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

Form 990 for tax year 2022

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

Totals

Total revenue
$130,250
Total expenses
$1,081,750
Contributions and grants received
$0
Grants paid
$816,000
Program service revenue
$0
Investment income
$130,250
Other revenue
$0
Total assets, end of year
$10,301,383
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$10,301,383
Program services expenses (Part IX)
$824,875
Management and general expenses
$256,875
Fundraising expenses
$0
Program service expenses (Part III)
$824,875

Program services were 76.3% 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.

  • 3 · Investment income

    total $129,341 · related or exempt $129,341

  • 7a · Gross sales of assets other than inventory

    securities $1,832,264

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

    securities $1,831,355

  • 7c · Gain or loss

    securities $909

  • 7d · Net gain or loss

    total $909 · related or exempt $909

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $816,000 · program services $816,000

  • 11a · Fees: management

    total $222,866 · management and general $222,866

  • 11c · Fees: accounting

    total $12,986 · management and general $12,986

  • 16 · Occupancy

    total $4,999 · management and general $4,999

  • 23 · Insurance

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

  • 24a · Other expenses: TRAIL MAINTENANCE

    total $8,875 · program services $8,875

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $919,107 · end of year $892,334

  • 12 · Investments: other securities

    beginning of year $8,537,406 · end of year $6,002,975

  • 13 · Investments: program-related

    beginning of year $3,247,426 · end of year $3,406,074

  • 27 · Net assets without donor restrictions

    beginning of year $2,005,849 · end of year $0

  • 28 · Net assets with donor restrictions

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

Mission and programs · 2022

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 POLK COUNTY COMMUNITY FOUNDATION (PCCF) DISTRIBUTED GRANTS IN THE NAME OF THE MARJORIE M. AND LAWRENCE R. BRADLEY ENDOWMENT FUND OF POLK COUNTY, NORTH CAROLINA (BRADLEY FUND). THESE GRANTS SUPPORTED THE PCCF UNRESTRICTED FUND AWARDS, SCHOLARSHIPS AND BRADLEY COMMUNITY BENEFIT GRANTS WHICH ARE RECOMMENDED BY THE BRADLEY FUND BOARD AND DISTRIBUTED TO THE COMMUNITY BY PCCF ON BEHALF OF THE BRADLEY FUND BOARD.

    Expenses $816,000 · Grants $816,000

  • THE ENDOWMENT FUND INCURS EXPENSES TO MAINTAIN NATURE TRAILS FOR GENERAL PUBLIC USE ON ITS REAL PROPERTY.

    Expenses $8,875

As filed on the 2022 return.

Listed in Part VII

  • Sherry M Carter

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • A Thomas Jackson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Peter Franklin

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Monica E Jones

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dr Faith Weathington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Philip H Burrus III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dale L McEntire

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stacey Lindsay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jay Geddings

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sara Bell

    PRESIDENT & CEO

    Total calculated
    $228,380
    From this org
    $0
    From related orgs
    $201,250
    Other
    $27,130
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,000 related
    Bonus
    $0 + $26,250 related
    Other
    $0
    Deferred
    $0 + $26,788 related
    Nontaxable benefits
    $0 + $342 related
    Filer's total
    $0 + $228,380 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 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

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 -$153,029 · assets $1,288,835

  • SUNNY COMMUNITY VIEW LLC

    HOLD REAL ESTATE · NC · income -$2,151 · assets $424,545

  • COMMUNITY GREEN LLC

    HOLD REAL ESTATE · NC · income -$6,617 · assets $3,168,564

Provenance

Return type
form_990
Tax year
2022
Filed
21 August 2023
IRS schema version
2022v5.0
Source object
202302369349300810

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