ASBURY FOUNDATION OF HATTIESBURG INC: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ASBURY FOUNDATION OF HATTIESBURG INC (EIN 64-0692161)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-05-02
- IRS object ID
- 202401239349100120
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- Depreciation Schedule
- Dissolution Stmt
- General Explanation Attachment
- Liquidation Explanation Stmt
- Legal Fees Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Increases Schedule
- Other Liabilities Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-02T09:16:19-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 205857627 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TMH | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O DRAWER 15099 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 394045099 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 640692161 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ASBURY FOUNDATION OF HATTIESBURG INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ASBU | BusinessNameControlTxt |
| Phone | 6012963555 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 17797 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 394047797 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM K RAY | PersonNm |
| Person Title | CEO & BOARD MEM | PersonTitleTxt |
| Phone | 6012963555 | PhoneNum |
| Signature | 2024-05-02 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | WILLIAM | PersonFirstNm |
| Person Last | RAY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RICHARD G TOPP CPA | PreparerPersonNm |
| PTIN | P00144777 | PTIN |
| Phone | 6012643519 | PhoneNum |
| Preparation | 2024-05-01 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| PF Status Term Sect507b1 A | Yes (X) | PFStatusTermSect507b1AInd |
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $43,978 | FMVAssetsEOYAmt |
| Method Of Accounting Other | Yes (X) | MethodOfAccountingOtherInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $4,502 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $4,502 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $706,585 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $706,585 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $1,537,392 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $28,183,827 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $1,537,392 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $11,269 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $0 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $2,259,748 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,248,479 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $426,731 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $42,673 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $384,058 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $101,281 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Net Invst Incm | $10,128 | OthEmplSlrsWgsNetInvstIncmAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $91,153 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $4,729 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Dsbrs Chrtbl | $4,729 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $48,500 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $14,550 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Chrtbl Prps | $33,950 | AccountingFeesChrtblPrpsAmt |
| Taxes Rev And Expnss | $64,249 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $14,784 | TaxesNetInvstIncmAmt |
| Taxes Dsbrs Chrtbl | $20,543 | TaxesDsbrsChrtblAmt |
| Deprec And Dpltn Rev And Expnss | $2,882 | DeprecAndDpltnRevAndExpnssAmt |
| Deprec And Dpltn Net Invst Incm | $576 | DeprecAndDpltnNetInvstIncmAmt |
| Occupancy Rev And Expnss | $28,693 | OccupancyRevAndExpnssAmt |
| Occupancy Net Invst Incm | $5,739 | OccupancyNetInvstIncmAmt |
| Occupancy Dsbrs Chrtbl | $22,954 | OccupancyDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $707 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Net Invst Incm | $100 | TravConfMeetingNetInvstIncmAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $607 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $102,631 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $86,632 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $15,999 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $780,403 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $175,182 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $573,993 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $29,189,513 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $29,189,513 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $29,969,916 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $175,182 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $29,763,506 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$27,710,168 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,073,297 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $561,850 | CashBOYAmt |
| Cash EOY | $10,218 | CashEOYAmt |
| Cash EOYFMV | $10,218 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $1,277,585 | SavAndTempCashInvstBOYAmt |
| Acct Rcvbl | $33,760 | AcctRcvblAmt |
| Acct Rcvbl EOY | $33,760 | AcctRcvblEOYAmt |
| Acct Rcvbl EOYFMV | $33,760 | AcctRcvblEOYFMVAmt |
| Prepaid Expenses BOY | $12,579 | PrepaidExpensesBOYAmt |
| Corporate Stock BOY | $14,112,381 | CorporateStockBOYAmt |
| Corporate Stock EOY | $0 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $0 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $8,438,429 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $0 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $0 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $3,339,051 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $0 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $0 | OtherInvestmentsEOYFMVAmt |
| Land BOY | $12,271 | LandBOYAmt |
| Land EOY | $0 | LandEOYAmt |
| Land EOYFMV | $0 | LandEOYFMVAmt |
| Total Assets BOY | $27,754,146 | TotalAssetsBOYAmt |
| Total Assets EOY | $43,978 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $43,978 | TotalAssetsEOYFMVAmt |
| Grants Payable BOY | $1,262,889 | GrantsPayableBOYAmt |
| Grants Payable EOY | $43,978 | GrantsPayableEOYAmt |
| Other Liabilities BOY | $30,862 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $0 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $1,293,751 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $43,978 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $26,460,395 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $0 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $26,460,395 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $0 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $27,754,146 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $43,978 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $26,460,395 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$27,710,168 | ExcessRevenueOverExpensesAmt |
| Other Increases | $1,249,773 | OtherIncreasesAmt |
| Subtotal | $0 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $0 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | PUBLICY TRADED SECURITIES | PropertyDesc |
| Gross Sales Price | $28,183,827 | GrossSalesPriceAmt |
| Cost Or Other Basis | $26,646,435 | CostOrOtherBasisAmt |
| Gain Or Loss | $1,537,392 | GainOrLossAmt |
| Gains Minus Excess Or Losses | $1,537,392 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $1,537,392 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $28,819 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $28,819 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $28,819 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $62,579 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $62,579 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $33,760 | OverpaymentAmt |
| Applied To ES Tax | $0 | AppliedToESTaxAmt |
| Refund | $33,760 | RefundAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | 0 | LegislativePoliticalActyInd |
| More Than100 Spent | 0 | MoreThan100SpentInd |
| Form1120 POL Filed | 0 | Form1120POLFiledInd |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
| Activities Not Previously Rpt | 0 | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | 0 | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | Yes (1) | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | 0 | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | MS | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | 0 | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | 0 | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | 0 | ComplyWithPublicInspRqrInd |
| Website Address | WWW.ASBURYFOUNDATIONOFHATTIESBURG.COM | WebsiteAddressTxt |
| Individual With Books | WILLIAM K RAY | IndividualWithBooksNm |
| Phone | 6012963555 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 METHODIST BLVD | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39402 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | 0 | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | 0 | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | 0 | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | 0 | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | 0 | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Uncorrected Prior Acts | 0 | UncorrectedPriorActsInd |
| Undistributed Income PY | 0 | UndistributedIncomePYInd |
| Business Holdings | 0 | BusinessHoldingsInd |
| Jeopardy Investments | 0 | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | 0 | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | 0 | InfluenceLegislationInd |
| Influence Election | 0 | InfluenceElectionInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (9 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| MR GLENN GALEY | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $5,500 | $0 | $0 |
| MR HARRY MCARTHUR | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $0 | $0 | $0 |
| MR WILLIAM RAY | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | CEO & BOARD MEM | 30.00 | $391,231 | $0 | $0 |
| MS JAN LACY | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $1,500 | $0 | $0 |
| MR JOSEPH HURSTON | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $5,500 | $0 | $0 |
| MR RAY HUMPHREYS | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $6,000 | $0 | $0 |
| MR RON CAIN | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $6,000 | $0 | $0 |
| MR JEROME BROWN | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $5,500 | $0 | $0 |
| MR JOE STEVENS | ||||||||
| PO BOX 17797 | HATTIESBURG | MS | 394047797 | BOARD MEMBER | 0.25 | $5,500 | $0 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STACIE WALLACE | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 METHODIST BLVD | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39402 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | ASSOCIATE DIRECTOR | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 24.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $101,281 | CompensationAmt |
| Employee Benefits | $0 | EmployeeBenefitsAmt |
| Expense Account | $0 | ExpenseAccountAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $26,638,957 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $11,649,285 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $38,288,242 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $38,288,242 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $574,324 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $37,713,918 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $1,885,696 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $1,885,696 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $28,819 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $28,819 | TotalTaxAmt |
| Distributable Before Adj | $1,856,877 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $0 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $1,856,877 | DistributableBeforeDedAmt |
| Deduction From Distributable | $0 | DeductionFromDistributableAmt |
| Distributable As Adjusted | $1,856,877 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $29,763,506 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $29,763,506 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $1,856,877 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $0 | UndistributedIncomePYAmt |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Excess Distribution Cyov Yr5 | $676,759 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $749,719 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $826,965 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $1,739,311 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $547,461 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $4,540,215 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $29,763,506 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Applied To Prior Years | $0 | AppliedToPriorYearsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $1,856,877 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $27,906,629 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $0 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $0 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $32,446,844 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Prior Year Deficiency Or Tax | $0 | PriorYearDeficiencyOrTaxAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Corpus Distri170b1 E Or4942g3 | $0 | CorpusDistri170b1EOr4942g3Amt |
| Excess Distri Cyov From Yr5 | $676,759 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $31,770,085 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $749,719 | ExcessFromYear4Amt |
| Excess From Year3 | $826,965 | ExcessFromYear3Amt |
| Excess From Year2 | $1,739,311 | ExcessFromYear2Amt |
| Excess From Year1 | $547,461 | ExcessFromYear1Amt |
| Excess From Current Year | $27,906,629 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
Application Submission Info ApplicationSubmissionInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | WILLIAM K RAY | RecipientPersonNm |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 17797 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 394047797 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Phone | 6012963555 | RecipientPhoneNum |
| Form And Info And Materials | A BOUND APPLICATION MUST BE PRESENTED TO INCLUDE A COPY OF THE ORGANIZATION'S 501(C)3, BUDGETS, COMPLETED FINANCIAL INFORMATION, AND A COMPLETED GRANT APPLICATION. | FormAndInfoAndMaterialsTxt |
| Submission Deadlines | MAY 31, AUGUST 31, OCTOBER 31, OR MARCH 31. | SubmissionDeadlinesTxt |
| Restrictions On Awards | APPLICANTS MUST BE RECOGNIZED BY THE IRS AS 501(C)3 ORGANIZATIONS OR MUST BE UNITS OF GOVERNMENT SERVING IN THE FOLLOWING COUNTIES: LAMAR, FORREST, MARION, PERRY, JONES, COVINGTON, PEARL RIVER, AND JEFFERSON DAVIS. | RestrictionsOnAwardsTxt |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (22 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt | Address Line2RecipientUSAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|
| AREA DEVELOPMENT PARTNERSHIP | |||||||
| 1 CONVENTION CENTER PLAZA | HATTIESBURG | MS | 39401 | NONE | FORWARD TOGETHER CAMPAIGN | $80,000 | |
| ASSOCIATION FOR RETARDED CITIZENS | |||||||
| PO BOX 1800 | HATTIESBURG | MS | 39404 | NONE | UNRESTRICTED | $100,000 | |
| CHRISTIAN FOOD MISSIONS INC | |||||||
| 506 CHANTILLY STREET | LAUREL | MS | 39440 | NONE | FOOD PANTRY PROGRAM | $175,000 | |
| CHRISTIAN SERVICES OF AMERICA | |||||||
| 301 E SECOND ST | HATTIESBURG | MS | 39401 | NONE | FOOD PANTRY PROGRAM | $275,000 | |
| CITY OF HATTIESBURG | |||||||
| 200 FORREST ST | HATTIESBURG | MS | 39401 | NONE | POLICE | $13,000 | |
| EDWARDS STREET MISSION | |||||||
| PO BOX 17532 | HATTIESBURG | MS | 39404 | NONE | FOOD PANTRY PROGRAM | $275,000 | |
| EXTRA TABLE INC | |||||||
| 3904 HARDY ST | HATTIESBURG | MS | 39402 | NONE | FOOD PANTRY AND SOUP KITCHENS | $275,000 | |
| FELLOWSHIP OF CHRISTIAN ATHLETES | |||||||
| PO BOX 449 | RIDGELAND | MS | 39158 | NONE | UNRESTRICTED | $330,000 | |
| HATTIESBURG CONVENTION COMMISSION | |||||||
| ONE CONVENTION CENTER PLAZA | HATTIESBURG | MS | 39401 | NONE | UNRESTRICTED | $100,000 | |
| HOMES OF HOPE FOR CHILDREN | |||||||
| 344 HAROLD TUCKER ROAD | PURVIS | MS | 39475 | NONE | UNRESTRICTED | $100,000 | |
| JONES COUNTY JUNIOR COLLEGE FOUNDATION | |||||||
| 900 SOUTH COURT STREET | ELLISVILE | MS | 39437 | NONE | ASBURY ENDOWED SCHOLARSHIP | $6,378,537 | |
| KIDS HUB | |||||||
| 15 MILLBRANCH RD | HATTIESBURG | MS | 39401 | NONE | UNRESTRICTED | $80,976 | |
| MAKE-A-WISH FOUNDATION | |||||||
| 607 HIGHLAND COLONY PARKWAY SUITE | RIDGELAND | MS | 39157 | NONE | WISHES | $75,000 | 100 |
| MISSION AT THE CROSS | |||||||
| 324 S MAGNOLIA STREET | LAUREL | MS | 39440 | NONE | IMPROVEMENTS TO FACILITY | $51,300 | |
| MISSION MISSISSIPPI | |||||||
| PO BOX 22655 | JACKSON | MS | 392252655 | NONE | UNRESTRICTED | $25,000 | |
| MOUNT OLIVE MINISTRIES | |||||||
| PO BOX 875 | MT OLIVE | MS | 39119 | NONE | MOM'S KID ZONE GRANT | $240,700 | |
| PEARL RIVER COMMUNITY COLLEGE | |||||||
| PO BOX 5389 | POPLARVILLE | MS | 39470 | NONE | ASBURY ENDOWED SCHOLARSHIP | $6,000,000 | |
| THE SALVATION ARMY | |||||||
| PO BOX 1750 | HATTIESBURG | MS | 39403 | NONE | FOOD PANTRY PROGRAM | $175,000 | |
| THE UNITED WAY OF SOUTHEAST MISSISSIPPI | |||||||
| 210 W FRONT ST SUITE 400 | HATTIESBURG | MS | 39401 | NONE | MATCHING GRANT | $200,000 | |
| UNIVERSITY OF SOUTHERN MISSISSIPPI WESLEY FOUNDATION | |||||||
| 3200 MONTAGUE BLVD | HATTIESBURG | MS | 39401 | NONE | UNRESTRICTED | $240,000 | |
| UNIVERSITY OF SOUTHERN MISSISSIPPI | |||||||
| 118 COLLEGE DRIVE 5210 | HATTIESBURG | MS | 394060001 | NONE | ASBURY ENDOWED SCHOLARSHIP | $6,000,000 | |
| WILLIAM CAREY UNIVERSITY FOUNDATION | |||||||
| 498 TUSCAN AVENUE | HATTIESBURG | MS | 39401 | NONE | ASBURY ENDOWED SCHOLARSHIP AND COLLEGE OF HEALTH | $8,000,000 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $29,189,513 | TotalGrantOrContriPdDurYrAmt |
Grant Or Contri Apprv For Fut GrantOrContriApprvForFutGrp
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDWARDS STREET MISSION | BusinessNameLine1Txt |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 17532 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39404 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Or Contribution Purpose | FOOD PANTRY PROGRAM | GrantOrContributionPurposeTxt |
| Amt | $43,978 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Apprv Fut | $43,978 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $4,502 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $706,585 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $1,537,392 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER RECEIPTS | Desc |
| Exclusion | 01 | ExclusionCd |
| Exclusion | $11,269 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $2,259,748 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,259,748 | TotalIncomeProducingActyAmt |
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Line Number | 8 | LineNumberTxt |
| Relationship Statement | THE VAST MAJORITY OF THE ENTITY'S ASSETS ARE IN INVESTMENTS WHICH FUND THE ORGANIZATIONS ACTIVITIES. WITHOUT THESE INVESTMENT ASSETS, THE ENTITY WOULD BE UNABLE TO FUND ITS MISSION. | RelationshipStatementTxt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | 0 | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | 0 | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | 0 | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | 0 | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | 0 | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | 0 | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | 0 | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | 0 | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | 0 | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | 0 | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | PROFESSIONAL FEES | CategoryTxt |
| Amt | $48,500 | Amt |
| Net Investment Income | $14,550 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $33,950 | DisbursementsCharitablePrpsAmt |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp (43 entries)
| PropertyPropertyDesc | AcquiredAcquiredDt | Cost Or Other BasisCostOrOtherBasisAmt | Prior Year DepreciationPriorYearDepreciationAmt | Computation MethodComputationMethodTxt | LifeLifeRt | Current Year ExpenseCurrentYearExpenseAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|---|---|---|---|---|
| STACIE'S CHAIR | 1999-07-26 | $385 | $385 | SL | 7.000000000000 | $0 | $0 |
| 2-SEATER SOFA | 1999-07-26 | $689 | $689 | SL | 7.000000000000 | $0 | $0 |
| CLUB CHAIR | 1999-07-26 | $591 | $591 | SL | 7.000000000000 | $0 | $0 |
| CORNER TABLE | 1999-07-26 | $490 | $490 | SL | 7.000000000000 | $0 | $0 |
| ARC TOP DESK | 1999-07-26 | $2,289 | $2,289 | SL | 7.000000000000 | $0 | $0 |
| CORNER COMP DESK | 1999-07-26 | $1,165 | $1,165 | SL | 7.000000000000 | $0 | $0 |
| MAGAZINE SOFA TABLE | 1999-07-26 | $485 | $485 | SL | 7.000000000000 | $0 | $0 |
| LATERAL FILE | 1999-07-26 | $895 | $895 | SL | 7.000000000000 | $0 | $0 |
| 2-DWR LATERAL FILE | 1999-07-26 | $895 | $895 | SL | 7.000000000000 | $0 | $0 |
| STORAGE CREDENZA | 1999-07-26 | $1,763 | $1,763 | SL | 7.000000000000 | $0 | $0 |
| BOOKCASE W/GLASS DOORS | 1999-07-26 | $2,106 | $2,106 | SL | 7.000000000000 | $0 | $0 |
| TV CABINET W/STORAGE | 1999-07-26 | $595 | $595 | SL | 7.000000000000 | $0 | $0 |
| DESK CHAIR | 1999-07-26 | $593 | $593 | SL | 7.000000000000 | $0 | $0 |
| 2 GUEST CHAIRS | 1999-07-26 | $967 | $967 | SL | 7.000000000000 | $0 | $0 |
| STACIE'S DESK | 1999-08-16 | $590 | $590 | SL | 7.000000000000 | $0 | $0 |
| U SHAPED CREDENZA | 2006-03-30 | $3,406 | $3,405 | SL | 7.000000000000 | $0 | $0 |
| COMPUTER--HOWARD COMPUTERS | 1999-07-26 | $1,355 | $1,355 | SL | 5.000000000000 | $0 | $0 |
| TRANSCRIBE STATION | 1999-08-27 | $2,731 | $2,731 | SL | 5.000000000000 | $0 | $0 |
| GRANT MANAGEMENT SOFTWARE | 2000-02-14 | $7,800 | $7,800 | 200DB | 3.000000000000 | $0 | $0 |
| CANON CFX-L4500 FAX MACHINE | 2000-10-18 | $1,065 | $1,065 | 200DB | 5.000000000000 | $0 | $0 |
| SCANNER | 2001-10-03 | $262 | $262 | SL | 5.000000000000 | $0 | $0 |
| FLAT SCREEN MONITOR | 2001-12-03 | $856 | $856 | SL | 5.000000000000 | $0 | $0 |
| COMPUTER SYSTEM | 2001-12-17 | $2,554 | $2,554 | SL | 5.000000000000 | $0 | $0 |
| COMPUTER FOR MR. RAY'S OFFICE | 2004-05-10 | $1,043 | $1,043 | SL | 5.000000000000 | $0 | $0 |
| MONITOR, PRINTER AND SOFTWARE | 2006-02-28 | $615 | $615 | SL | 5.000000000000 | $0 | $0 |
| CANON COPIER | 2006-03-20 | $10,529 | $10,529 | SL | 5.000000000000 | $0 | $0 |
| LASER COLOR PRINTER | 2006-03-23 | $641 | $641 | SL | 5.000000000000 | $0 | $0 |
| COMPUTER | 2007-02-21 | $1,861 | $1,861 | 200DB | 5.000000000000 | $0 | $0 |
| LG 26" LCD HD TV | 2010-01-04 | $481 | $481 | 200DB | 5.000000000000 | $0 | $0 |
| CANNON UNIVERSAL SCANNER | 2010-01-20 | $461 | $461 | 200DB | 5.000000000000 | $0 | $0 |
| COMPETER SYSTEM: GATEWAY TOWER, MONITOR, & SOFTWAR | 2010-01-21 | $1,113 | $1,113 | 200DB | 5.000000000000 | $0 | $0 |
| SAMSUNG LCD MONITOR | 2010-03-31 | $320 | $320 | 200DB | 5.000000000000 | $0 | $0 |
| HEWLETT PACKARD WORKSTATION WHARDWARE & SOFTWARE | 2010-04-22 | $4,093 | $4,093 | 200DB | 5.000000000000 | $0 | $0 |
| COMPUTER SERVER, MONITOR, AND BACKUP SYSTEM | 2012-11-20 | $6,415 | $6,412 | SL | 5.000000000000 | $0 | $0 |
| COMPUTER | 2013-06-06 | $1,572 | $1,572 | 200DB | 5.000000000000 | $0 | $0 |
| HP WORKSTATION, WRITER, & SOFTWARE | 2013-12-10 | $1,848 | $1,848 | 200DB | 5.000000000000 | $0 | $0 |
| XEROX 8570 PRINTER | 2015-01-28 | $1,230 | $1,230 | 200DB | 7.000000000000 | $0 | $0 |
| HP ELITEONE 800 ALL IN ONE | 2016-08-19 | $2,134 | $2,134 | 200DB | 5.000000000000 | $0 | $0 |
| HP PRONE 400 G2 AIO | 2016-08-19 | $1,529 | $1,529 | 200DB | 5.000000000000 | $0 | $0 |
| CANON COPIER | 2017-01-17 | $11,214 | $11,214 | SL | 5.000000000000 | $0 | $0 |
| SAMSUNG TV | 2020-11-10 | $1,462 | $622 | SL | 5.000000000000 | $280 | $0 |
| KYOCERA COLOR PRINTER | 2020-11-18 | $791 | $338 | SL | 5.000000000000 | $152 | $0 |
| ML 350 GEN 10 SERVER | 2022-04-13 | $12,786 | $1,812 | SL | 5.000000000000 | $2,450 | $0 |
Dissolution Stmt DissolutionStmt
Dissolution Information DissolutionInformationGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDWARDS STREET MISSION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 17532 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39404 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Short Explanation | THE FOUNDATION DISTRIBUTED ALL OF ITS ASSETS IN 2023 WITH THE EXCEPTION OF THIS SINGLE GRANT, WHICH IS SCHEDULED TO BE PAID IN 2024 UPON RECEIPT OF THE 2023 TAX REFUND. | ShortExplanationTxt |
| Dissolution | $43,978 | DissolutionAmt |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | STATEMENT EXPLAINING LIQUIDATION | IdentifierTxt |
| Form And Line Reference | FORM 990-PF, PART VI-A, LINE 5 | FormAndLineReferenceDesc |
| Medium Explanation | ASBURY FOUNDATION OF MISSISSIPPI, INC. ELECTED TO LIQUIDATE AND TERMINATE ITS 501(C)(3) PRIVATE FOUNDATION STATUS AND HAS LIQUIDATED ITS ASSETS AS EXPLAINED IN THE PDF ATTACHMENTS. ALL ASSETS WERE GIVEN AS GRANTS TO 501(C)(3) ORGANIZATIONS IN 2023 WITH A FINAL GRANT ACCRUED AND PAID TO A 501(C)(3) ORGANIZATION WITH FUNDS RETAINED FOR ANY RESIDUAL COSTS OR TAX LIABILITIES, OF WHCH THERE WERE NONE. | MediumExplanationTxt |
Liquidation Explanation Stmt LiquidationExplanationStmt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE BOARD OF DIRECTORS OF ASBURY FOUNDATION OF HATTIESBURG, INC., AT THEIR REGULAR MONTHLY MEETING ON JUNE 20, 2023, DECIDED TO BEGIN THE PROCESS OF CLOSING THE FOUNDATION AND LIQUIDATING ALL ASSETS BY YEAR-END OR AS ADMINISTRATIVELY FEASIBLE THEREAFTER. IN THIS PROCESS AND CONSISTENT WITH THEIR MISSION TO PROVIDE GRANTS WITH AN EMPHASIS ON FUNDING NON-PROFIT ORGANIZATIONS PROVIDING NURSING AND HEALTHCARE EDUCATION AND SUPPORT DID DISBURSE THE MAJORITY OF THEIR ASSETS BY YEAR-END. A RESERVE AMOUNT OF $10,218 WAS RETAINED TO COVER ANY UNEXPECTED EXPENSES INCLUDING ANY FEDERAL EXCISE TAX LIABILITY FOR THE YEAR 2023. IN FACT, AFTER COMPLETION OF THE 2023 IRS FORM 990-PF, A RESULTING OVERPAYMENT OF $33,760 WAS CALCULATED. THE CASH RESERVE ALONG WITH THIS REFUNDED PREPAYMENT OF TAXES IS SCHEDULED TO BE PAID TO THE EDWARDS STREET MISSION BY ORDER OF THE BOARD. | ExplanationTxt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $4,729 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $4,729 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| OFFICE SUPPLIES & EXPENSES | $19,376 | $3,875 | $15,501 |
| INVESTMENT FEES | $82,674 | $82,674 | $0 |
| BANK CHARGES | $164 | $0 | $164 |
| POSTAGE AND SHIPPING | $417 | $83 | $334 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER RECEIPTS | Desc |
| Revenue And Expenses Per Books | $11,269 | RevenueAndExpensesPerBooksAmt |
| Adjusted Net Income | $11,269 | AdjustedNetIncomeAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DECREASE IN GRANTS PAYABLE | $1,218,911 |
| CHANGE IN DEFERRED EXCISE TAXES | $30,862 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEFERRED TAX LIABILITY | Desc |
| BOY Book Value | $30,862 | BOYBookValueAmt |
| EOY Book Value | $0 | EOYBookValueAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (4 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| PAYROLL TAXES | $22,826 | $2,283 | $20,543 |
| FOREIGN TAXES ON INVESTMENT INCOME | $12,501 | $12,501 | $0 |
| OTHER TAXES | $103 | $0 | $0 |
| FEDERAL TAX EXPENSE | $28,819 | $0 | $0 |