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Nonprofiteer
← DONALD R WATSON FOUNDATION INC

Form 990 for tax year 2022

Filed by DONALD R WATSON FOUNDATION INC.

Totals

Total revenue
$52,410
Total expenses
$93,848
Contributions and grants received
$0
Grants paid
$77,334
Program service revenue
$0
Investment income
$52,410
Other revenue
$0
Total assets, end of year
$1,440,739
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,440,739
Program services expenses (Part IX)
$77,334
Management and general expenses
$16,514
Fundraising expenses
$0
Program service expenses (Part III)
$77,334

Program services were 82.4% 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 $59,712 · excluded $59,712

  • 7a · Gross sales of assets other than inventory

    securities $128,828

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

    securities $136,130

  • 7c · Gain or loss

    securities -$7,302

  • 7d · Net gain or loss

    total -$7,302 · excluded -$7,302

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $77,334 · program services $77,334

  • 11c · Fees: accounting

    total $6,500 · management and general $6,500

  • 11f · Fees: investment management

    total $9,209 · management and general $9,209

  • 23 · Insurance

    total $805 · management and general $805

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4 · end of year $125

  • 11 · Investments: publicly traded securities

    beginning of year $1,412,799 · end of year $1,440,614

  • 28 · Net assets with donor restrictions

    beginning of year $1,412,803 · end of year $1,440,739

Mission and programs · 2022

Mission

TO DONATE FUNDS TO CHARITABLE, EDUCATIONAL, LITERARY, RELIGIOUS, AND SCIENTIFIC ORGANIZATIONS, PROVIDED ALL RECIPIENT ORGANIZATIONS ARE TAX EXEMPT ORGANIZATIONS AND ELIGIBLE TO RECEIVE CHARITABLE DONATIONS.

  • TO DONATE FUNDS TO CHARITABLE, EDUCATIONAL, LITERARY, RELIGIOUS, AND SCIENTIFIC ORGANIZATIONS, PROVIDED ALL RECIPIENT ORGANIZATIONS ARE EXEMPT ORGANIZATIONS AND ELIGIBLE TO RECEIVE CHARITABLE DONATIONS UNDER SECTIONS 501(C)(3) AND 170(C)(1) OR (2) OF THE CODE, OR THE PROVISIONS OF ANY FUTURE IRS REGULATIONS. THE FOUNDATION PROVIDED $61,868 IN SCHOLARSHIPS FOR STUDENTS TO ATTEND THE UNIVERSITY OF NORTH CAROLINA AT WILMINGTON AND $15,466 IN SUPPORT TO OTHER NON-PROFIT ORGANIZATIONS: DUKE UNIVERSITY FOR MEDICAL RESEARCH AND ST. JOHN'S EPISCOPAL CHURCH.

    Expenses $77,334 · Grants $77,334

As filed on the 2022 return.

Listed in Part VII

  • Aswani Volety

    PRESIDENT

    Total calculated
    $250,386
    From this org
    $0
    From related orgs
    $219,974
    Other
    $30,412
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $215,419 related
    Bonus
    $0
    Other
    $0 + $4,555 related
    Deferred
    $0 + $26,623 related
    Nontaxable benefits
    $0 + $3,789 related
    Filer's total
    $0 + $250,386 related

  • Monica Watson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Bill Anlyan

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

  • Robert Warwick

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1

  • Eddie Stuart

    DIRECTOR

    Total calculated
    $269,930
    From this org
    $0
    From related orgs
    $230,948
    Other
    $38,982
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,948 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $31,169 related
    Nontaxable benefits
    $0 + $7,813 related
    Filer's total
    $0 + $269,930 related

  • Jose Sartarelli

    PAST PRESIDENT

    Total calculated
    $286,505
    From this org
    $0
    From related orgs
    $250,937
    Other
    $35,568
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,609 related
    Bonus
    $0
    Other
    $0 + $6,328 related
    Deferred
    $0 + $31,922 related
    Nontaxable benefits
    $0 + $3,646 related
    Filer's total
    $0 + $286,505 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

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

  • UNIVERSITY OF NORTH CAROLINA WILMINGTON

    $61,868

    SCHOLARSHIPS

  • DUKE UNIVERSITY

    $7,733

    MEDICAL RESEARCH

  • ST JOHN'S EPISCOPAL CHURCH

    $7,733

    GENERAL FUNDING

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.

  • UNIVERSITY OF NORTH CAROLINA WILMINGTON

    EDUCATION · NC

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202303139349302235

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