BILL AND FAYE STALLINGS FAMILY FOUNDATION: Form 990PF, tax year 2012

View the entire original 990 at ProPublica ↗

Organization
BILL AND FAYE STALLINGS FAMILY FOUNDATION (EIN 20-8383433)
Tax period
2012-01-01 to 2012-12-31
Filed
2013-07-08
IRS object ID
201321899349100222
Schema version
2012v2.2
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)
Timestamp2013-07-08T02:28:07-00:00Timestamp
Tax Period End Date2012-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Lane Suite 212AddressLine1
CityLake SuccessCity
StateNYState
ZIP Code11042ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnType
Tax Period Begin Date2012-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN208383433EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1Bill and Faye Stallings Family FoundationBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlBILLNameControl
Phone8008391754Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1
CityWilmingtonCity
StateDEState
ZIP Code198091377ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameMelissa L GoodsonName
TitleSecretaryTitle
Date Signed2013-07-08DateSigned
Authorize Third PartytrueAuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameJeffrey D HaskellName
Phone8008391754Phone
Date Prepared2013-07-08DatePrepared
FieldValueIRS element (for citing)
Tax Year2012TaxYear
Build TS2016-02-25 16:41:14ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Exempt PFXExemptPF
FMV Assets EOY107436FMVAssetsEOY
Method Of Accounting CashXMethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Received Rev And Expnss1120000ContriReceivedRevAndExpnss
Interest On Savings Rev And Expnss6InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm6InterestOnSavingsNetInvstIncm
Dividends Rev And Expnss2482DividendsRevAndExpnss
Dividends Net Invst Incm2482DividendsNetInvstIncm
Capital Gain Net Incm Net Invst Incm0CapitalGainNetIncmNetInvstIncm
Total Revenue And Expenses1122488TotalRevenueAndExpenses
Total Net Investment Income2488TotalNetInvestmentIncome
Other Expenses Rev And Expnss5716OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm120OtherExpensesNetInvstIncm
Other Expenses Dsbrs Chrtbl Prps5596OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss5716TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm120TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps5596TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss1274750ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps1274750ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss1280466TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm120TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps1280346TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses-157978ExcessOfRevenueOverExpenses
Net Investment Income2368NetInvestmentIncome

Balance Sheets BalanceSheets

FieldValueIRS element (for citing)
Savings And Temp Cash Invst BOY170360SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY12382SavingsAndTempCashInvstEOY
Savings And Temp Cash Invst EOYFMV12382SavingsAndTempCashInvstEOYFMV
Investments Corp Stock BOY96038InvestmentsCorpStockBOY
Investments Corp Stock EOY96038InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV95054InvestmentsCorpStockEOYFMV
Total Assets BOY266398TotalAssetsBOY
Total Assets EOY108420TotalAssetsEOY
Total Assets EOYFMV107436TotalAssetsEOYFMV
Total Liabilities EOY0TotalLiabilitiesEOY
Org That Do Not Follow SFAS117XOrgThatDoNotFollowSFAS117
Retained Earnings BOY266398RetainedEarningsBOY
Retained Earnings EOY108420RetainedEarningsEOY
Total Net Assets BOY266398TotalNetAssetsBOY
Total Net Assets EOY108420TotalNetAssetsEOY
Total Liabilities Net Assets BOY266398TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY108420TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

FieldValueIRS element (for citing)
Total Net Assets Fund Balances BOY266398TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses-157978ExcessOfRevenueOverExpenses
Subtotal108420Subtotal
Total Net Assets Fund Balances EOY108420TotalNetAssetsFundBalancesEOY

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

FieldValueIRS element (for citing)
Liable For4942 TaxfalseLiableFor4942Tax
Qualifying Distributions Year1119631QualifyingDistributionsYear1
Noncharitable Assets Year1126203NoncharitableAssetsYear1
Distribution Ratio Year1000.947925DistributionRatioYear1
Qualifying Distributions Year2107088QualifyingDistributionsYear2
Noncharitable Assets Year2205705NoncharitableAssetsYear2
Distribution Ratio Year2000.520590DistributionRatioYear2
Qualifying Distributions Year3101134QualifyingDistributionsYear3
Noncharitable Assets Year3260033NoncharitableAssetsYear3
Distribution Ratio Year3000.388928DistributionRatioYear3
Qualifying Distributions Year444922QualifyingDistributionsYear4
Noncharitable Assets Year4260299NoncharitableAssetsYear4
Distribution Ratio Year4000.172578DistributionRatioYear4
Qualifying Distributions Year5104549QualifyingDistributionsYear5
Noncharitable Assets Year5141252NoncharitableAssetsYear5
Distribution Ratio Year5000.740159DistributionRatioYear5
Total Distribution Ratio002.770180TotalDistributionRatio
Average Distribution Ratio000.554036AverageDistributionRatio
Net Noncharitable Assets151159NetNoncharitableAssets
Adjusted Noncharitable Assets83748AdjustedNoncharitableAssets
One Percent Net Investment Income24OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One83772AdjNonchrtblAssetsAndOnePct
Qualifying Distributions1280346QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eXDomesticOrgMeetingSect4940e
Investment Income Excise Tax24InvestmentIncomeExciseTax
Subtotal24Subtotal
Tax Based On Investment Income24TaxBasedOnInvestmentIncome
Est Tax Payments And Overpayment151EstTaxPaymentsAndOverpayment
Total Credits And Payments151TotalCreditsAndPayments
Tax Paid Original Return151TaxPaidOriginalReturn
Overpayment127Overpayment
Amount Credited To Next Year100AmountCreditedToNextYear
Amount To Be Refunded27AmountToBeRefunded

Statements Regarding Activities StatementsRegardingActivities

FieldValueIRS element (for citing)
Legislative Political ActivitiesfalseLegislativePoliticalActivities
More Than100 SpentfalseMoreThan100Spent
Form1120 POL FiledfalseForm1120POLFiled
Activities Not Prev ReportedfalseActivitiesNotPrevReported
Changes To Articles Or BylawsfalseChangesToArticlesOrBylaws
Unrelated Bus Income Over1000falseUnrelatedBusIncomeOver1000
Termination EtctrueTerminationEtc
Requirements Of Sect508etrueRequirementsOfSect508e
At Least5000 In AssetstrueAtLeast5000InAssets
Form990 PF Filed With AGtrueForm990PFFiledWithAG
Private Operating FoundationfalsePrivateOperatingFoundation
New Substantial ContributorsfalseNewSubstantialContributors
Interest In Controlled EntityfalseInterestInControlledEntity
Applicable Insurance ContractfalseApplicableInsuranceContract
Comply With Public Inspection RqrtrueComplyWithPublicInspectionRqr

Books In Care Of Business Name BooksInCareOfBusinessName

FieldValueIRS element (for citing)
Business Name Line1co Foundation SourceBusinessNameLine1
FieldValueIRS element (for citing)
Books In Care Of Phone Number8008391754BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1
CityWilmingtonCity
StateDEState
ZIP Code198091377ZIPCode
FieldValueIRS element (for citing)
Foreign BankfalseForeignBank

Statements Regarding Acty4720 StatementsRegardingActy4720

FieldValueIRS element (for citing)
Sale Or Exchange With Dsqfly PersonfalseSaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly PersonfalseBorrowOrLendWithDsqflyPerson
Furnished Goods With Dsqfly PersonfalseFurnishedGoodsWithDsqflyPerson
Pay Compensation To Dsqfly PersonfalsePayCompensationToDsqflyPerson
Transfer Assets To Dsqfly PersonfalseTransferAssetsToDsqflyPerson
Payment To Government OfficalfalsePaymentToGovernmentOffical
Uncorrected Prior ActsfalseUncorrectedPriorActs
Undistributed Income Prior YearsfalseUndistributedIncomePriorYears
Business HoldingsfalseBusinessHoldings
Jeopardy InvestmentsfalseJeopardyInvestments
Uncorrected Jeopardy InvestmentsfalseUncorrectedJeopardyInvestments
Influence LegislationfalseInfluenceLegislation
Influence ElectionfalseInfluenceElection
Grants To IndividualsfalseGrantsToIndividuals
Grants To OrganizationsfalseGrantsToOrganizations
Noncharitable PurposefalseNoncharitablePurpose
Pay Premiums Prsnl Bnft ContractfalsePayPremiumsPrsnlBnftContract
Prohibited Tax Shelter TransactnfalseProhibitedTaxShelterTransactn

Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo

Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (6 entries)

Address Line1USAddress/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleAvg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPositionCompensationCompensation
Melissa L Goodson
Foundation Source 501 Silverside RdWilmingtonDE19809Sec001.000
Faye Stallings
Foundation Source 501 Silverside RdWilmingtonDE19809Pres / Dir001.000
G Blake Stallings
Foundation Source 501 Silverside RdWilmingtonDE19809VP001.000
Jeffrey S Stallings
Foundation Source 501 Silverside RdWilmingtonDE19809VP001.000
K Clark Stallings
Foundation Source 501 Silverside RdWilmingtonDE19809VP001.000
William R Stallings Jr
Foundation Source 501 Silverside RdWilmingtonDE19809VP001.000

Minimum Investment Return MinimumInvestmentReturn

FieldValueIRS element (for citing)
Avg Monthly FMV Of Securities98842AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances54619AvgMonthlyCashBalances
FMV All Other Noncharitable Assets0FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets153461TotalFMVOfUnusedAssets
Adj Total FMV Of Unused Assets153461AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable2302CashDeemedCharitable
Net Noncharitable Assets151159NetNoncharitableAssets
Minimum Investment Return7558MinimumInvestmentReturn

Distributable DistributableAmount

FieldValueIRS element (for citing)
Minimum Investment Return7558MinimumInvestmentReturn
Tax Based On Investment Income24TaxBasedOnInvestmentIncome
Total Tax24TotalTax
Distributable Amount Before Adj7534DistributableAmountBeforeAdj
Distributable Amount Before Ded7534DistributableAmountBeforeDed
Distributable Amount As Adjusted7534DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

FieldValueIRS element (for citing)
Expenses And Contributions1280346ExpensesAndContributions
Qualifying Distributions1280346QualifyingDistributions
One Pct Sect4940e Org Net Invst Incm24OnePctSect4940eOrgNetInvstIncm
Adj Qualifying Distributions1280322AdjQualifyingDistributions

Undistributed Income UndistributedIncome

FieldValueIRS element (for citing)
Distributable Amount As Adjusted7534DistributableAmountAsAdjusted
Excess Distri Carryover Year5100031ExcessDistriCarryoverYear5
Excess Distri Carryover Year432913ExcessDistriCarryoverYear4
Excess Distri Carryover Year388455ExcessDistriCarryoverYear3
Excess Distri Carryover Year296899ExcessDistriCarryoverYear2
Excess Distri Carryover Year1113877ExcessDistriCarryoverYear1
Total Excess Distri Carryover432175TotalExcessDistriCarryover
Qualifying Distributions1280346QualifyingDistributions
Applied To Current Year7534AppliedToCurrentYear
Remaining Distri From Corpus1272812RemainingDistriFromCorpus
Total Corpus1704987TotalCorpus
Undistributed Income CY0UndistributedIncomeCY
Excess Distri Cyov From Year5100031ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year1604956ExcessDistriCyovToNextYear
Excess From Year432913ExcessFromYear4
Excess From Year388455ExcessFromYear3
Excess From Year296899ExcessFromYear2
Excess From Year1113877ExcessFromYear1
Excess From Current Year1272812ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

FieldValueIRS element (for citing)
Contributing ManagerNONEContributingManager
Only Contributes To PreselectedXOnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (5 entries)

Address Line1RecipientUSAddress/AddressLine1CityRecipientUSAddress/CityStateRecipientUSAddress/StateZIP CodeRecipientUSAddress/ZIPCodeRecipient RelationshipRecipientRelationshipRecipient Foundation StatusRecipientFoundationStatusPurpose Of Grant Or ContributionPurposeOfGrantOrContributionAmountAmount
CPT CHRISTOPHER CASH MEMORIAL FDN OF NC
508 HOLLAND MILL LNSTELLANC28582N/A509a1General Unrestricted$250
HOPE OF GLORY MINISTRIES INC
PO BOX 2038GREENVILLENC27836N/A509a2General Unrestricted$60,000
LITTLE LEAGUE BASEBALL INC
301 BAYTREE DRGREENVILLENC27858N/A509a1General Unrestricted$1,189,000
MOBILE MEDICAL DISASTER RELIEF INC
5409 MARYLAND WAY STE 119BRENTWOODTN37027N/A509a1Haiti Hospital$25,000
SANDRAS TONS OF LOVE LTD
100 ALLENDALE DRGREENVILLENC27834N/A509a2General Unrestricted$500
FieldValueIRS element (for citing)
Tot Grant Or Contri Paid During Year1274750TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst

FieldValueIRS element (for citing)
Exclusion Code14ExclusionCode
Exclusion$6ExclusionAmount

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

FieldValueIRS element (for citing)
Exclusion Code14ExclusionCode
Exclusion$2,482ExclusionAmount

Subtotals Part XVIA SubtotalsPartXVIA

FieldValueIRS element (for citing)
Exclusion$2,488ExclusionAmount
FieldValueIRS element (for citing)
Total Part XVIA2488TotalPartXVIA

Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO

FieldValueIRS element (for citing)
Trnsfr Of Cash To Noncharitable EOfalseTrnsfrOfCashToNoncharitableEO
Trnsfr Oth Assets Noncharitable EOfalseTrnsfrOthAssetsNoncharitableEO
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssets
Purchase Assets Noncharitable EOfalsePurchaseAssetsNoncharitableEO
Rental Of Facilities EtcfalseRentalOfFacilitiesEtc
Reimbursement ArrangementsfalseReimbursementArrangements
Loans Or Loan GuaranteesfalseLoansOrLoanGuarantees
Performance Of Services EtcfalsePerformanceOfServicesEtc
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtc
Relationships Noncharitable E OsfalseRelationshipsNoncharitableEOs

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFXOrganization501c3ExemptPF
General RuleXGeneralRule

Contributor Info ContributorInfo

FieldValueIRS element (for citing)
Contributor Number1ContributorNumber
Contributor Name IndividualMarion Faye Stallings Living TrustContributorNameIndividual

Contributor Address US ContributorAddressUS

FieldValueIRS element (for citing)
Address Line1Stallings Grp 1645 E Arlington BlvdAddressLine1
CityGreenvilleCity
StateNCState
ZIP Code27858ZIPCode
FieldValueIRS element (for citing)
Aggregate Contributions1120000AggregateContributions
Person Contribution TypeXPersonContributionType

General Explanation Attachment GeneralExplanationAttachment

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock

FieldValueIRS element (for citing)
Name Of Stock3265 shares of BBT CPNameOfStock
EOY Book Value96038EOYBookValue
EOYFMV95054EOYFMV

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
StatementThis statement is submitted to report the distribution of certain assets during the above-referenced year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3a1 and the Form 990-PF instructions During the taxable year ending December 31, 2012, Bill and Faye Stallings Family Foundation the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled 1,274,750. This amount represents over 25 of the Foundations net assets of 252,549 as measured by fair market value at the beginning of the Foundations taxable year ending December 31, 2012. 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.Statement

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses (3 entries)

DescriptionDescriptionRevenue And Expenses Per BooksRevenueAndExpensesPerBooksDisbursements Charitable PrpsDisbursementsCharitablePrpsNet Investment IncomeNetInvestmentIncome
Administrative Fees55715571
Bank Charges120120
State or Local Filing Fees2525

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.