GATEWOOD FOUNDATION INC: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
GATEWOOD FOUNDATION INC (EIN 20-4254147)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-02-13
IRS object ID
201810449349100711
Schema version
2017v2.2
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 ReturnHeader

FieldValueIRS element (for citing)
Return2018-02-13T14:12:43-08:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Owens & Owens CPA PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12300 J L Todd DrAddressLine1Txt
CityRomeCityNm
State AbbreviationGAStateAbbreviationCd
ZIP301615065ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN204254147EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GATEWOOD FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGATEBusinessNameControlTxt
Phone7707490180PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 897AddressLine1Txt
CityCEDARTOWNCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30125ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDEBORAH S FREEMANPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone7707490180PhoneNum
Signature2018-02-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSAMANTHA TEWPreparerPersonNm
PTINP01414051PTIN
Phone7062355222PhoneNum
Preparation2018-02-13PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address50.243.200.205IPv4AddressTxt
FieldValueIRS element (for citing)
IP2018-02-13IPDt
IP Tm14:12:39IPTm
IP TimezonePSIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id08E108191FD5EB1DA4A7FCF323D378C068F9A8FBAtSubmissionCreationDeviceId
At Submission Filing Device Id08E108191FD5EB1DA4A7FCF323D378C068F9A8FBAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$25,324FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$750DividendsRevAndExpnssAmt
Net Gain Sale Ast Rev And Expnss-$2,273NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$2,487GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss-$1,523TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$195AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$195AccountingFeesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$195TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$195TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,750ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,750ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,945TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$195TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,750TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$3,468ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,129SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$2,384SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$2,384SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$22,940CorporateStockBOYAmt
Corporate Stock EOY$22,940CorporateStockEOYAmt
Corporate Stock EOYFMV$22,940CorporateStockEOYFMVAmt
Total Assets BOY$24,069TotalAssetsBOYAmt
Total Assets EOY$25,324TotalAssetsEOYAmt
Total Assets EOYFMV$25,324TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Capital Stock BOY$24,069CapitalStockBOYAmt
Capital Stock EOY$25,324CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$24,069TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$25,324TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$24,069TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$25,324TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$24,069TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$3,468ExcessRevenueOverExpensesAmt
Other Increases$4,723OtherIncreasesAmt
Subtotal$25,324SubtotalAmt
Tot Net Ast Or Fund Balances EOY$25,324TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property100 shares BAC stockPropertyDesc
How AcquiredPHowAcquiredCd
Acquired2007-10-26AcquiredDt
Sold2017-03-16SoldDt
Gross Sales Price$2,487GrossSalesPriceAmt
Depreciation$0DepreciationAmt
Cost Or Other Basis$4,760CostOrOtherBasisAmt
Gain Or Loss-$2,273GainOrLossAmt
FMV As Of123169$0FMVAsOf123169Amt
Adjusted Basis As Of123169$0AdjustedBasisAsOf123169Amt
Excess FMV Over Adjusted Bss$0ExcessFMVOverAdjustedBssAmt
Gains Minus Excess Or Losses-$2,273GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income-$2,273CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Adjusted Qlfy Distri Yr1$2,500AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$23,708NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.105450DistributionYr1Rt
Adjusted Qlfy Distri Yr2$2,650AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$22,816NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.116147DistributionYr2Rt
Adjusted Qlfy Distri Yr3$6,000AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$28,062NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.213812DistributionYr3Rt
Adjusted Qlfy Distri Yr4$4,250AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$32,713NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.129918DistributionYr4Rt
Adjusted Qlfy Distri Yr5$7,000AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$33,313NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.210128DistributionYr5Rt
Total Distribution0.775455TotalDistributionRt
Average Distribution0.155091AverageDistributionRt
Net Vl Noncharitable Assets$24,944NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$3,869AdjNetVlNoncharitableAssetsAmt
Adj Nonchrtbl Net Invst Incm Pct$3,869AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$1,750QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Applied To ES Tax$0AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateGAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksREED FREEMANIndividualWithBooksNm
Phone7707490180PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14 N MAIN STAddressLine1Txt
CityCEDARTOWNCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30125ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
DEBORAH S FREEMAN
607 CHEROKEE RDCEDARTOWNGA30125PRESIDENT0$0$0$0
MOLLY F JORDAN
CHEROKEE RDCEDARTOWNGA30125SECRETARY0$0$0$0
JOHN R FREEMAN
607 CHEROKEE RDCEDARTOWNGA30125TREASURER0$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1PROVIDED FUNDS TO 501(C)(3) ORGANIZATIONSDescription1Txt
Expenses1$1,750Expenses1Amt
Expenses2$0Expenses2Amt
Expenses3$0Expenses3Amt
Expenses4$0Expenses4Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$25,324FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$25,324TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$25,324AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$380CashDeemedCharitableAmt
Net Vl Noncharitable Assets$24,944NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,247MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,247MinimumInvestmentReturnAmt
Distributable Before Adj$1,247DistributableBeforeAdjAmt
Distributable Before Ded$1,247DistributableBeforeDedAmt
Distributable As Adjusted$1,247DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,750ExpensesAndContributionsAmt
Qualifying Distributions$1,750QualifyingDistributionsAmt
Adjusted Qualifying Distri$1,750AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,247DistributableAsAdjustedAmt
Undistributed Income PY$1,185UndistributedIncomePYAmt
Excess Distribution Cyov Yr5$5,334ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$948ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$4,364ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$1,247ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$2,500ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$14,393TotalExcessDistributionCyovAmt
Qualifying Distributions$1,750QualifyingDistributionsAmt
Remaining Distri From Corpus$1,750RemainingDistriFromCorpusAmt
Total Corpus$16,143TotalCorpusAmt
Taxable2$1,185Taxable2Amt
Undistributed Income CY$1,247UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$5,334ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$10,809ExcessDistriCyovToNextYrAmt
Excess From Year4$948ExcessFromYear4Amt
Excess From Year3$4,364ExcessFromYear3Amt
Excess From Year2$1,247ExcessFromYear2Amt
Excess From Year1$2,500ExcessFromYear1Amt
Excess From Current Year$1,750ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerREED DEBORAH FREEMANContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
DARLINGTON SCHOOL
1014 CAVE SPRING RDROMEGA30165501(C)EDUCATION$1,500
ROME FIRST METHODIST
202 E 3RD AVENUECEDARTOWNGA30161501(C)3EDUCATION$250
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,750TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Program Service Rev Part VII ProgramServiceRevPartVIIGrp

FieldValueIRS element (for citing)
DescNONEDesc

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm-$2,273RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm-$2,273RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty-$2,273TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryVICKI OWENS CPA TAX RETURNCategoryTxt
Amt$195Amt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp

FieldValueIRS element (for citing)
Asset100 SHARE BANK OF AMERICA STOCKAssetDesc
Acquired2007-10AcquiredDt
How AcquiredPurchasedHowAcquiredTxt
Sold2017-03SoldDt
Gross Sales Price$2,487GrossSalesPriceAmt
Basis$4,760BasisAmt
Total Net-$2,273TotalNetAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockCETERA ADVISORSStockNm
EOY Book Value$22,940EOYBookValueAmt
EOYFMV$22,940EOYFMVAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescINCREASE IN MARKET VALUEDesc
Amt$4,723Amt

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