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← MARJORIE M & LAWRENCE R BRADLEY ENDOWMENT FUND OF POLK COUNTY N CA

Form 990 for tax year 2023

Filed by MARJORIE M & LAWRENCE R BRADLEY ENDOWMENT FUND OF POLK COUNTY N CA.

Totals

Total revenue
$268,831
Total expenses
$309,354
Contributions and grants received
$34,500
Grants paid
$0
Program service revenue
$0
Investment income
$234,331
Other revenue
$0
Total assets, end of year
$11,087,417
Total liabilities, end of year
$198
Net assets or fund balances, end of year
$11,087,219
Program services expenses (Part IX)
$43,375
Management and general expenses
$265,979
Fundraising expenses
$0
Program service expenses (Part III)
$43,375

Program services were 14.0% 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

    $34,500

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $186,584 · related or exempt $186,584

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $2,512,552

  • 7b · Less cost or other basis and sales expenses

    securities $2,464,805

  • 7c · Gain or loss

    securities $47,747 · other assets $0

  • 7d · Net gain or loss

    total $47,747 · related or exempt $47,747

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $213,336 · management and general $213,336

  • 11c · Fees: accounting

    total $24,093 · management and general $24,093

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $12,526 · management and general $12,526

  • 23 · Insurance

    total $16,024 · management and general $16,024

  • 24a · Other expenses: Other Expenses

    total $43,375 · program services $43,375

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $892,334 · end of year $882,024

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 12 · Investments: other securities

    beginning of year $6,002,975 · end of year $6,799,319

  • 13 · Investments: program-related

    beginning of year $3,406,074 · end of year $3,406,074

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    end of year $198

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    end of year $389,129

  • 28 · Net assets with donor restrictions

    beginning of year $10,301,383 · end of year $10,698,090

Mission and programs · 2023

Mission

To give grants in Polk County, NC for charitable, educational, medical and community benefit purposes within the meaning of Section 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1986 and to support the Polk County Community Foundation.

  • The endowment fund, through a grant provided by The Dogwood Health Trust, incurred expenses for the engineering and design of an affordable housing project and community park.

    Expenses $34,500

  • The endowment fund incurs expenses to maintain nature trails for general public use on its real property.

    Expenses $8,875

As filed on the 2023 return.

Listed in Part VII

  • A Thomas Jackson

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Monica E Jones

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Peter R Franklin

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sherry M Carter

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Carolyn Gibson

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dale L McEntire

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Stacey Lindsay

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan S McHugh

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sara Barron Bell

    President & CEO

    Total calculated
    $244,960
    From this org
    $0
    From related orgs
    $204,134
    Other
    $40,826
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,634 related
    Bonus
    $0 + $32,500 related
    Other
    $0
    Deferred
    $0 + $40,826 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $244,960 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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)

Schedule J, Part I, Line 3
THE RELATED ORGANIZATION CONDUCTS AN ANNUAL REVIEW OF THE CEO TO REVIEW PERFORMANCE AND GOALS. COMPENSATION PAID IS BASED ON MULTIPLE FACTORS INCLUDING COMPARISON CEO SALARIES FOR THE RESPONSIBILITIES AND EXPERTISE OF THE CEO. ALL COMPENSATION IS RECOMMENDED BY THE COMPENSATION COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS OF THE RELATED ORGANIZATION PRIOR TO THE START OF THE FISCAL YEAR.

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

No itemized grants to organizations 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Bradley Fund LLC

    Hold Real Estate · NC · income $76,291 · assets $1,365,324

    Directly controlled by NA

  • Sunny Community View LLC

    Hold Real Estate · NC · income -$5,270 · assets $419,275

    Directly controlled by NA

  • Community Green LLC

    Hold Real Estate · NC · income $4,802 · assets $3,173,366

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
29 April 2025
IRS schema version
2023v6.0
Source object
202501199349302205

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