H SMITH RICHARDSON CHARITABLE TRUST: Form 990PF, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- H SMITH RICHARDSON CHARITABLE TRUST (EIN 23-7245123)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-14
- IRS object ID
- 202333189349103823
- Schema version
- 2022v5.0
- 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
- Expenditure Responsibility Stmt
- General Explanation Attachment
- Investments Other Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Liabilities Schedule
- Other Professional Fees Schedule
- Taxes Schedule
- Transfers Frm Controlled Entities
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-14T13:43:16-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 230 N ELM ST STE 1100 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237245123 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | H SMITH RICHARDSON CHARITABLE TRUST | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HSMI | BusinessNameControlTxt |
| Phone | 3363798600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 701 GREEN VALLEY RD 306 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 274087096 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROSS HEMPHILL | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 3363798600 | PhoneNum |
| Signature | 2023-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | ROSS | PersonFirstNm |
| Person Last | HEMPHILL | 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 | GARRICK L MARTIN | PreparerPersonNm |
| PTIN | P00239389 | PTIN |
| Phone | 3362724551 | PhoneNum |
| Preparation | 2023-11-11 | 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 | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $62,685,495 | FMVAssetsEOYAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $888,140 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $881,768 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $808,184 | NetGainSaleAstRevAndExpnssAmt |
| Cap Gain Net Incm Net Invst Incm | $808,338 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | -$9,254,733 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $219,731 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | -$7,558,409 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $1,909,837 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $0 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $0 | CompOfcrDirTrstDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $1,823 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Dsbrs Chrtbl | $1,823 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $11,755 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Chrtbl Prps | $11,755 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $592,988 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $839,693 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $592,988 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $16,980 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $0 | TaxesNetInvstIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $983 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Net Invst Incm | $0 | TravConfMeetingNetInvstIncmAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $983 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $28,595 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $28,843 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $653,124 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $839,693 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $636,392 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $3,134,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $3,134,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $3,787,124 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $839,693 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $3,770,392 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$11,345,533 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $1,070,144 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $11,630 | CashBOYAmt |
| Cash EOY | $26,395 | CashEOYAmt |
| Cash EOYFMV | $26,395 | CashEOYFMVAmt |
| Other Investments BOY | $74,152,289 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $62,628,880 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $62,628,880 | OtherInvestmentsEOYFMVAmt |
| Other Assets BOY | $14,534 | OtherAssetsBOYAmt |
| Other Assets EOY | $30,220 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $30,220 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $74,178,453 | TotalAssetsBOYAmt |
| Total Assets EOY | $62,685,495 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $62,685,495 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $447 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $22 | AccountsPayableEOYAmt |
| Other Liabilities BOY | $338,000 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $191,000 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $338,447 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $191,022 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $73,840,006 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $62,494,473 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $73,840,006 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $62,494,473 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $74,178,453 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $62,685,495 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $73,840,006 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$11,345,533 | ExcessRevenueOverExpensesAmt |
| Other Increases | $0 | OtherIncreasesAmt |
| Subtotal | $62,494,473 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $62,494,473 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt |
|---|---|---|---|---|---|
| FLOW THROUGH FROM MOORINGS CAPITAL, LLC | P | 2022-01-01 | 2022-12-31 | -$794,111 | -$794,111 |
| FLOW THROUGH FROM MOORINGS CAPITAL, LLC | P | 2022-01-01 | 2022-12-31 | $1,602,295 | $1,602,295 |
| UBI (GAIN)/LOSS FLOW THROUGH FROM MOORINGS CAPITAL LLC | P | 2022-01-01 | 2022-12-31 | $154 | $154 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $808,338 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $14,875 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $14,875 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $14,875 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $35,020 | 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 | $35,020 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $20,145 | OverpaymentAmt |
| Applied To ES Tax | $20,145 | AppliedToESTaxAmt |
| Refund | $0 | 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 | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Organization Dissolved Etc | 0 | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (1) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | CT | OrgReportOrRegisterStateCd |
| Org Report Or Register State | NC | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | 0 | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | Yes (1) | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (1) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
| Individual With Books | ROSS HEMPHILL | IndividualWithBooksNm |
| Phone | 3363798600 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 701 GREEN VALLEY ROAD SUITE 306 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 274087096 | 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 | Yes (1) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | 0 | ActsFailToQlfyAsExceptionsInd |
| 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 | Yes (1) | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | 0 | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | Yes (1) | MaintainedExpenditureRspnsInd |
| 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 (4 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 |
|---|---|---|---|---|---|---|---|---|
| C GERHARD ANDERSON III | ||||||||
| 701 GREEN VALLEY ROAD NO306 | GREENSBORO | NC | 27408 | TRUSTEE | 1.00 | $0 | $0 | $0 |
| JOHN P RICHARDSON JR | ||||||||
| 701 GREEN VALLEY ROAD NO306 | GREENSBORO | NC | 27408 | TRUSTEE | 1.00 | $0 | $0 | $0 |
| TYLER B RICHARDSON | ||||||||
| 701 GREEN VALLEY ROAD NO306 | GREENSBORO | NC | 27408 | TRUSTEE | 1.00 | $0 | $0 | $0 |
| NICOLAS L RICHARDSON | ||||||||
| 701 GREEN VALLEY ROAD NO306 | GREENSBORO | NC | 27408 | TRUSTEE | 1.00 | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SMITH RICHARDSON FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 701 GREEN VALLEY ROAD | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27408 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Service Type | GRANT ADMINISTRATION SERVICES | ServiceTypeTxt |
| Compensation | $573,144 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | $65,514,192 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $13,236 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $65,527,428 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $65,527,428 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $982,911 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $64,544,517 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $3,227,226 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $3,227,226 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $14,875 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $14,875 | TotalTaxAmt |
| Distributable Before Adj | $3,212,351 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $0 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $3,212,351 | DistributableBeforeDedAmt |
| Deduction From Distributable | $0 | DeductionFromDistributableAmt |
| Distributable As Adjusted | $3,212,351 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $3,770,392 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $3,770,392 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $3,212,351 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $201,589 | UndistributedIncomePYAmt |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Total Excess Distribution Cyov | $0 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $3,770,392 | QualifyingDistributionsAmt |
| Applied To Year1 | $201,589 | AppliedToYear1Amt |
| Applied To Prior Years | $0 | AppliedToPriorYearsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $3,212,351 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $356,452 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $0 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $0 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $356,452 | 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 | $0 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $356,452 | ExcessDistriCyovToNextYrAmt |
| Excess From Current Year | $356,452 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| SMITH RICHARDSON FOUNDATION INC | ||||||
| 701 GREEN VALLEY ROAD | GREENSBORO | NC | 27408 | PF | FLOW THROUGH GRANT - FOR CHARITABLE, SCIENTIFIC, LITERARY, EDUCATIONAL PURPOSES OR RELIGIOUS NEEDS. | $3,114,000 |
| LAFAYETTE COLLEGE | ||||||
| 730 HIGH ST | EASTON | PA | 18042 | PC | GENERAL SUPPORT | $10,000 |
| GREENS FARMS ACADEMY | ||||||
| 35 BEACHSIDE AVE | WESTON | CT | 06880 | PC | GENERAL SUPPORT | $5,000 |
| SAILING FOUNDATION OF THE YACHT CLUB OF SEA ISLE CITY INC | ||||||
| 4487 VENICEAN RD | SEA ISLE CITY | NJ | 08243 | PC | GENERAL SUPPORT | $3,000 |
| WESTON VOLUNTEER FIRE DEPARTMENT | ||||||
| 56 NORTHFIELD RD | WESTON | CT | 06883 | PC | GENERAL SUPPORT | $2,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $3,134,000 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business | 523000 | BusinessCd |
| Unrelated Business Taxbl Incm | $6,372 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $881,768 | ExclusionAmt |
Other Investment Income OtherInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business | 523000 | BusinessCd |
| Unrelated Business Taxbl Incm | $14,175 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $327,354 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business | 523000 | BusinessCd |
| Exclusion | 18 | ExclusionCd |
| Exclusion | $808,338 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp (4 entries)
| DescDesc | BusinessBusinessCd | Unrelated Business Taxbl IncmUnrelatedBusinessTaxblIncmAmt | ExclusionExclusionCd | ExclusionExclusionAmt |
|---|---|---|---|---|
| MOORINGS CAPITAL UBIT CAPITAL LOSS | 523000 | -$154 | 18 | |
| DEFERRED TAX BENEFIT | 900099 | $127,000 | ||
| GAAP ADJUSTMENTS FROM FLOW THROUGH ENTITY | 523000 | -$8,775,946 | ||
| PORTFOLIO DEDUCTIONS FROM FLOW THROUGH ENTITY | 523000 | -$947,316 |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $20,393 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | -$7,578,802 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | -$7,558,409 | TotalIncomeProducingActyAmt |
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 | AUDIT FEE | CategoryTxt |
| Amt | $11,755 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $11,755 | DisbursementsCharitablePrpsAmt |
Expenditure Responsibility Stmt ExpenditureResponsibilityStmt
Expenditure Responsibility ExpenditureResponsibilityGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SMITH RICHARDSON FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 701 GREEN VALLEY ROAD SUITE 306 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27408 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant | 2022-03-16 | GrantDt |
| Grant | $3,114,000 | GrantAmt |
| Purpose Of Grant | TO BE USED FOR CHARITABLE, SCIENTIFIC, LITERARY, EDUCATIONAL PURPOSES OR RELIGIOUS NEEDS AS DEFINED UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). | PurposeOfGrantTxt |
| Expended By Grantee | $3,114,000 | ExpendedByGranteeAmt |
| Any Diversion By Grantee | NO | AnyDiversionByGranteeTxt |
| Dates Of Reports By Grantee | 9/26/23 | DatesOfReportsByGranteeTxt |
| Results Of Verification | GRANT WAS FULLY EXPENDED IN ACCORDANCE WITH AGREED UPON TERMS OF EXPENDITURE RESPONSIBILITY. | ResultsOfVerificationTxt |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | CONTROLLED ENTITIES | IdentifierTxt |
| Form And Line Reference | FORM 990-PF, PART VI-A, LINE 11 | FormAndLineReferenceDesc |
| Medium Explanation | THE H. SMITH RICHARDSON CHARITABLE TRUST (EIN 23-7245123) OWNS AN APPROXIMATELY 7.81% INTEREST IN MOORINGS CAPITAL LLC (EIN 56-2280118). MOORINGS CAPITAL LLC'S ADDRESS IS 701 GREEN VALLEY ROAD, SUITE 306, GREENSBORO, NC 27408. SOME OF THE OTHER LLC MEMBERS SHARE COMMON TRUSTEES WITH THE H. SMITH RICHARDSON CHARITABLE TRUST. WHEN THE TRUST'S OWNERSHIP INTEREST IN MOORINGS CAPITAL LLC IS COMBINED WITH THE OTHER LLC MEMBERS, THE TRUST COULD BE CONSIDERED TO OWN A CONTROLLED ENTITY. DURING THE 2021 TAX YEAR, THE H. SMITH RICHARDSON CHARITABLE TRUST DID NOT RECEIVE ANY SPECIFIED PAYMENTS FROM MOORINGS CAPITAL LLC WITHIN THE MEANING OF INTERNAL REVENUE CODE SECTION 512(B)(13)(A).ALSO, THE H. SMITH RICHARDSON CHARITABLE TRUST'S OWNERSHIP INTEREST IN MOORINGS CAPITAL LLC IS NOT AN EXCESS BUSINESS HOLDING UNDER INTERNAL REVENUE CODE SECTION 4943.MOORINGS CAPITAL LLC IS A PARTNERSHIP FOR FEDERAL INCOME TAX PURPOSES, AND IT HAS FOUR PARTNERS/LLC MEMBERS. ALL OF THE MEMBERS ARE TAX EXEMPT ENTITIES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3).THIS LLC WAS FORMED FOR THE PURPOSE OF POOLING EACH INDIVIDUAL TAX EXEMPT ENTITY'S SEPARATE INVESTMENTS INTO ONE LARGER INVESTMENT POOL. THIS POOLING OF INVESTMENTS PROVIDES MANY BENEFITS TO THE PARTNERS/MEMBERS WHICH INCLUDE LOWER INVESTMENT MANAGEMENT FEES AND ACCESS TO INVESTMENTS NOT OTHERWISE AVAILABLE. MOORINGS CAPITAL LLC DOES NOT HAVE ANY EMPLOYEES AND ITS ONLY ASSETS ARE THE INVESTMENTS IN LOWER TIER INVESTMENT PARTNERSHIPS. MOORINGS CAPITAL DOES NOT HAVE A CONTROLLING INTEREST IN ANY OF THE LOWER TIER INVESTMENT PARTNERSHIPS THAT IT OWNS. ALSO, NEITHER H. SMITH RICHARDSON CHARITABLE TRUST NOR ANY OTHER PARTNER/LLC MEMBER HAS ANY CONTROLLING INTEREST IN ANY OF THE LOWER TIER INVESTMENTS THAT ARE OWNED BY MOORINGS CAPITAL LLC.DURING THE 2022 TAX YEAR THE H. SMITH RICHARDSON CHARITABLE TRUST RECEIVED $3,838,000 OF CAPITAL DISTRIBUTIONS FROM MOORINGS CAPITAL LLC. | MediumExplanationTxt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category Or Item | INVESTMENT IN MOORINGS CAPITAL LLC | CategoryOrItemTxt |
| Listed At Cost Or FMV | FMV | ListedAtCostOrFMVCd |
| Book Value | $62,628,880 | BookValueAmt |
| EOYFMV | $62,628,880 | EOYFMVAmt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEE | CategoryTxt |
| Legal Fees | $1,823 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $1,823 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp (2 entries)
| DescDesc | BOY Book ValueBOYBookValueAmt | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| PREPAID INSURANCE | $14,534 | $15,200 | $15,200 |
| FEDERAL EXCISE TAX REFUNDABLE | $15,020 | $15,020 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| INSURANCE EXPENSE | $25,390 | $0 | $26,056 |
| MISCELLANEOUS EXPENSES | $2,163 | $0 | $1,745 |
| PROBATE COURT FEES | $1,042 | $0 | $1,042 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail (11 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt |
|---|---|---|---|
| NET RENTAL REAL ESTATE INCOME FROM FLOW THROUGH ENTITY | -$8,384 | -$2,529 | -$8,384 |
| CANCELLATION OF DEBT FROM FLOW THROUGH ENTITY | $0 | -$9 | $0 |
| OTHER INVESTMENT GAIN/(LOSS) FROM FLOW THROUGH ENTITY | $36,405 | $34,203 | $36,405 |
| ROYALTY INCOME FROM FLOW THROUGH ENTITY | $42,637 | $42,395 | $42,637 |
| ORDINARY BUSINESS INCOME FROM FLOW THROUGH ENTITY | $115,715 | -$10,527 | $115,715 |
| SECTION 1231 GAIN/LOSS FROM FLOW THROUGH ENTITY | $155,156 | $156,198 | $155,156 |
| ADJUST FOR UBI LOSS FROM FLOW THROUGH | $154 | $0 | $154 |
| MOORINGS CAPITAL UBIT CAPITAL LOSS | -$154 | -$154 | |
| DEFERRED TAX BENEFIT | $127,000 | $127,000 | |
| GAAP ADJUSTMENTS FROM FLOW THROUGH ENTITY | -$8,775,946 | -$8,775,946 | |
| PORTFOLIO DEDUCTIONS FROM FLOW THROUGH ENTITY | -$947,316 | -$947,316 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEFERRED FEDERAL EXCISE TAX ACCURAL | Desc |
| BOY Book Value | $338,000 | BOYBookValueAmt |
| EOY Book Value | $191,000 | EOYBookValueAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| OTHER PROFESSIONAL SERVICES | $19,844 | $0 | $19,844 |
| MANAGEMENT FEE | $573,144 | $0 | $573,144 |
| INVESTMENT EXPENSES FROM FLOW THROUGH ENTITY | $0 | $839,693 | $0 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | FEDERAL EXCISE TAX | CategoryTxt |
| Amt | $16,980 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Transfers Frm Controlled Entities TransfersFrmControlledEntities
Transfers From Controlled Ent TransfersFromControlledEntGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MOORINGS CAPITAL LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 701 GREEN VALLEY ROAD SUITE 306 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27408 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562280118 | EIN |
| Desc | CAPITAL CONTRIBUTION MADE FROM MOORINGS CAPITAL LLC SHOWN ON 2022 SCH K-1 RECEIVED FROM PARTNERSHIP. | Desc |
| Amt | $0 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,838,000 | TotalAmt |
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