BILL AND FAYE STALLINGS FAMILY FOUNDATION: Form 990PF, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
BILL AND FAYE STALLINGS FAMILY FOUNDATION (EIN 20-8383433)
Tax period
2015-01-01 to 2015-12-31
Filed
2016-07-21
IRS object ID
201622039349100612
Schema version
2015v2.1
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)
Return2016-07-21T13:11:32-05:00ReturnTs
Tax Period End2015-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1Txt
CityLake SuccessCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2015-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN208383433EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Bill and Faye Stallings Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlBILLBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMELISSA L GOODSONPersonNm
Person TitleSecretaryPersonTitleTxt
Phone8008391754PhoneNum
Signature2016-07-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2016-09-27 15:27:22ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$147,336FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$162,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$2InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$2InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$3,429DividendsRevAndExpnssAmt
Dividends Net Invst Incm$3,429DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$165,431TotalRevAndExpnssAmt
Total Net Invst Incm$3,431TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$37TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$5,025OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,025OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$5,062TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,025TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$150,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$150,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$155,062TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$155,025TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$10,369ExcessRevenueOverExpensesAmt
Net Investment Income$3,431NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$13,504SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$23,873SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$23,873SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$96,038CorporateStockBOYAmt
Corporate Stock EOY$96,038CorporateStockEOYAmt
Corporate Stock EOYFMV$123,463CorporateStockEOYFMVAmt
Total Assets BOY$109,542TotalAssetsBOYAmt
Total Assets EOY$119,911TotalAssetsEOYAmt
Total Assets EOYFMV$147,336TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$109,542RetainedEarningBOYAmt
Retained Earning EOY$119,911RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$109,542TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$119,911TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$109,542TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$119,911TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$109,542TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$10,369ExcessRevenueOverExpensesAmt
Subtotal$119,911SubtotalAmt
Tot Net Ast Or Fund Balances EOY$119,911TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$168,025AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$140,451NetVlNoncharitableAssetsYr1Amt
Distribution Yr11.196325DistributionYr1Rt
Adjusted Qlfy Distri Yr2$172,714AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$128,556NetVlNoncharitableAssetsYr2Amt
Distribution Yr21.343492DistributionYr2Rt
Adjusted Qlfy Distri Yr3$1,280,322AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$151,159NetVlNoncharitableAssetsYr3Amt
Distribution Yr38.470035DistributionYr3Rt
Adjusted Qlfy Distri Yr4$119,631AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$126,203NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.947925DistributionYr4Rt
Adjusted Qlfy Distri Yr5$107,088AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$205,705NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.52059DistributionYr5Rt
Total Distribution12.478367TotalDistributionRt
Average Distribution2.495673AverageDistributionRt
Net Vl Noncharitable Assets$142,262NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$355,039AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$34NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$355,073AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$155,025QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$69InvestmentIncomeExciseTaxAmt
Subtotal$69SubtotalAmt
Tax Based On Investment Income$69TaxBasedOnInvestmentIncomeAmt
Applied To Es Tax$69AppliedToEsTaxAmt
Total Payments And Credits$69TotalPaymentsAndCreditsAmt

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 EtcYes (true)OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
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

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
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 (6 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Melissa L Goodson
Foundation Source 501 Silverside RdWilmingtonDE198091377Sec1.0$0$0$0
Faye Stallings
Foundation Source 501 Silverside RdWilmingtonDE198091377Pres / Dir1.0$0$0$0
G Blake Stallings
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
Jeffrey S Stallings
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
K Clark Stallings
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
William R Stallings Jr
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$124,292AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$20,136AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$144,428TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$144,428AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,166CashDeemedCharitableAmt
Net Vl Noncharitable Assets$142,262NetVlNoncharitableAssetsAmt
Minimum Investment Return$7,113MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$7,113MinimumInvestmentReturnAmt
Tax Based On Investment Income$69TaxBasedOnInvestmentIncomeAmt
Total Tax$69TotalTaxAmt
Distributable Before Adj$7,044DistributableBeforeAdjAmt
Distributable Before Ded$7,044DistributableBeforeDedAmt
Distributable As Adjusted$7,044DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$155,025ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$155,025QualifyingDistributionsAmt
Adjusted Qualifying Distri$155,025AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$7,044DistributableAsAdjustedAmt
Prior Year12013PriorYear1Yr
Prior Year22012PriorYear2Yr
Prior Year32011PriorYear3Yr
Excess Distribution Cyov Yr5$96,899ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$113,877ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$1,272,812ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$166,361ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$161,064ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,811,013TotalExcessDistributionCyovAmt
Qualifying Distributions$155,025QualifyingDistributionsAmt
Applied To Current Year$7,044AppliedToCurrentYearAmt
Remaining Distri From Corpus$147,981RemainingDistriFromCorpusAmt
Total Corpus$1,958,994TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$96,899ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,862,095ExcessDistriCyovToNextYrAmt
Excess From Year4$113,877ExcessFromYear4Amt
Excess From Year3$1,272,812ExcessFromYear3Amt
Excess From Year2$166,361ExcessFromYear2Amt
Excess From Year1$161,064ExcessFromYear1Amt
Excess From Current Year$147,981ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerNONEContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
BOYS & GIRLS CLUBS OF THE COASTAL PLAIN INC
621 W FIRE TOWER RDWINTERVILLENC28590N/APCGeneral & Unrestricted$15,000
HOPE OF GLORY MINISTRIES INC
PO BOX 2038GREENVILLENC27836N/APCGeneral & Unrestricted$60,000
UNITED METHODIST RETIREMENT HOMES FOUNDATION
2600 CROASDAILE FARM PKWYDURHAMNC27705N/APCWellness Center Campaign$75,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$150,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$2ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$3,429ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$3,431ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$3,431TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonMarion Faye Stallings Living TrustContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1STALLINGS GRP 1645 E ARLINGTON BLVDAddressLine1Txt
CityGreenvilleCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27858ZIPCd
FieldValueIRS element (for citing)
Total Contributions$162,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockBB&T CPStockNm
EOY Book Value$96,038EOYBookValueAmt
EOYFMV$123,463EOYFMVAmt

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationThis statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2015, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $150,000. This amount represents over 25% of the Foundation's net assets of $140,493 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2015. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XV, Line 3a; each such grant was made solely for the charitable purpose specified therein.ExplanationTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$5,000$5,000
State or Local Filing Fees$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Excise Tax for 2014CategoryTxt
Amt$37Amt

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