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Nonprofiteer
← CAROL WOODS CHARITABLE FUND INC

Form 990 for tax year 2022

Filed by CAROL WOODS CHARITABLE FUND INC.

Totals

Total revenue
$247,300
Total expenses
$273,833
Contributions and grants received
$247,242
Grants paid
$267,405
Program service revenue
$0
Investment income
$58
Other revenue
$0
Total assets, end of year
$2,273,420
Total liabilities, end of year
$925
Net assets or fund balances, end of year
$2,272,495
Program services expenses (Part IX)
$267,405
Management and general expenses
$6,428
Fundraising expenses
$0
Program service expenses (Part III)
$267,405

Program services were 97.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $247,242

  • 1g · Noncash contributions included above

    $39,223

  • 3 · Investment income

    total $58 · excluded $58

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $267,405 · program services $267,405

  • 11c · Fees: accounting

    total $2,700 · management and general $2,700

  • 24a · Other expenses: MISCELLANEOUS

    total $3,728 · management and general $3,728

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,305,778 · end of year $2,272,820

  • 4 · Accounts receivable

    beginning of year $50 · end of year $600

  • 7 · Other notes and loans receivable

    beginning of year $100,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,800 · end of year $925

  • 27 · Net assets without donor restrictions

    beginning of year $880,592 · end of year $782,873

  • 28 · Net assets with donor restrictions

    beginning of year $1,518,436 · end of year $1,489,622

Mission and programs · 2022

Mission

TO PROVIDE SUPPORT TO THE CHAPEL HILL RESIDENTIAL RETIREMENT CENTER, INC D/B/A THE CAROL WOODS RETIREMENT COMMUNITY, A 501(C)(3) ORGANIZATION.

Activities or mission (Part I)

PROVIDE SUPPORT TO THE CHAPEL HILL RESIDENTIAL RETIREMENT CENTER, INC.

  • AS A SUPPORTING CORPORATION TO THE CAROL WOODS RETIREMENT COMMUNITY, SUPPORTWAS PROVIDED IN VARIOUS WAYS. THE CHARITABLE FUND PROVIDED $190,240 TO SUPPORTRESIDENTS WHO HAD OUTLIVED THEIR ASSETS. IT PROVIDED $2,828 IN SUPPORT TO VARIOUSCAMPUS NEEDS OF CAROL WOODS, INCLUDING MAINTENANCE OF GIFTED GARDENS. IT PROVIDED$3,100 IN SUPPORT OF CAROL WOODS' TUITION ASSISTANCE PROGRAM FOR CAREER GROWTH OFCAROL WOODS' EMPLOYEES. IT PROVIDED $13,836 IN ASSISTANCE TO EMPLOYEESEXPERIENCING FINANCIAL HARDSHIP THROUGH A STAFF HARDSHIP FUND.AS A SUPPORTING CORPORATION TO THE CAROL WOODS RETIREMENT COMMUNITY, THECHARITABLE FUND PROVIDED $47,000 IN SUPPORT OF THE CAROL WOODS RESIDENTASSOCIATION, SUPPORTING THE BUDGETS OF A VARIETY OF RESIDENT COMMITTEES INVOLVED INENRICHING THE LIVES OF THE RESIDENTS OF THE COMMUNITY.

    Expenses $267,405 · Grants $267,405

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mark Royster

    PRESIDENT OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Marlene Rifkin

    VICE PRESIDENT OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Curt McLaughlin

    RESIDENT/SECRETARY OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Marian Stephenson

    RESIDENT/VOTING BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Crystal Torain

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Reeb Jr

    TREASURER

    Total calculated
    $238,731
    From this org
    $0
    From related orgs
    $220,479
    Other
    $18,252
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,479 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $18,252 related
    Filer's total
    $0 + $238,731 related

  • Marianne Ratcliffe

    PRESIDENT AND CEO

    Total calculated
    $301,574
    From this org
    $0
    From related orgs
    $279,662
    Other
    $21,912
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,231 related
    Bonus
    $0 + $35,431 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $21,912 related
    Filer's total
    $0 + $301,574 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION DOES NOT DIRECTLY COMPENSATE ANY OFFICERS OR KEY EMPLOYEES. IT RELIES ON THE CHAPEL HILL RESIDENTIAL RETIREMENT CENTER, INC., A RELATED ORGANIZATION, TO SET AND REMIT COMPENSATION TO ITS OFFICERS. THE RELATED ORGANIZATION USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE INDIVIDUALS LISTED ON SCHEDULE J: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
4 April 2023
IRS schema version
2022v5.0
Source object
202321009349300317

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