BETA

GRAY FAMILY FOUNDATION: Form 990PF, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
GRAY FAMILY FOUNDATION (EIN 20-7040780)
Tax period
2010-01-01 to 2010-12-31
Filed
2011-05-16
IRS object ID
201141369349100424
Schema version
2010v3.2
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)
Timestamp2011-05-16T11:25:52-05:00Timestamp
Tax Period End Date2010-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1DIXON HUGHES GOODMAN LLPBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 973AddressLine1
CityCHARLESTONCity
StateSCState
ZIP Code29402ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnType
Tax Period Begin Date2010-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN207040780EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1THE GRAY FAMILY FOUNDATIONBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlGRAYNameControl
Phone8435243109Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line122 SAMS POINT ROADAddressLine1
CityBEAUFORTCity
StateSCState
ZIP Code29907ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameRICHARD L GRAYName
TitleTRUSTEETitle
Phone8435243109Phone
Date Signed2011-05-16DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameRUDY THOMASName
Phone8437226443Phone
Date Prepared2011-05-16DatePrepared
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-03-07 17:11:31ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Exempt PFXExemptPF
FMV Assets EOY106282FMVAssetsEOY
Method Of Accounting CashXMethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Not Required To Attach Schedule BXNotRequiredToAttachScheduleB
Capital Gain Net Incm Net Invst Incm0CapitalGainNetIncmNetInvstIncm
Total Revenue And Expenses0TotalRevenueAndExpenses
Total Net Investment Income0TotalNetInvestmentIncome
Comp Ofcr Dir Trst Rev And Expnss0CompOfcrDirTrstRevAndExpnss
Comp Ofcr Dir Trst Net Invst Incm0CompOfcrDirTrstNetInvstIncm
Comp Ofcr Dir Trst Dsbrs Chrtbl Prps0CompOfcrDirTrstDsbrsChrtblPrps
Other Expenses Rev And Expnss160OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm160OtherExpensesNetInvstIncm
Other Expenses Dsbrs Chrtbl Prps0OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss160TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm160TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps0TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss25000ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps25000ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss25160TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm160TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps25000TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses-25160ExcessOfRevenueOverExpenses
Net Investment Income0NetInvestmentIncome

Balance Sheets BalanceSheets

FieldValueIRS element (for citing)
Cash BOY129242CashBOY
Cash EOY104082CashEOY
Cash EOYFMV104082CashEOYFMV
Receivables From Officers BOY2200ReceivablesFromOfficersBOY
Receivables From Officers EOY2200ReceivablesFromOfficersEOY
Receivables From Officers EOYFMV2200ReceivablesFromOfficersEOYFMV
Total Assets BOY131442TotalAssetsBOY
Total Assets EOY106282TotalAssetsEOY
Total Assets EOYFMV106282TotalAssetsEOYFMV
Total Liabilities BOY0TotalLiabilitiesBOY
Total Liabilities EOY0TotalLiabilitiesEOY
Org That Do Not Follow SFAS117XOrgThatDoNotFollowSFAS117
Capital Stock BOY0CapitalStockBOY
Capital Stock EOY0CapitalStockEOY
Paid In Or Capital Surplus BOY0PaidInOrCapitalSurplusBOY
Paid In Or Capital Surplus EOY0PaidInOrCapitalSurplusEOY
Retained Earnings BOY131442RetainedEarningsBOY
Retained Earnings EOY106282RetainedEarningsEOY
Total Net Assets BOY131442TotalNetAssetsBOY
Total Net Assets EOY106282TotalNetAssetsEOY
Total Liabilities Net Assets BOY131442TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY106282TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

FieldValueIRS element (for citing)
Total Net Assets Fund Balances BOY131442TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses-25160ExcessOfRevenueOverExpenses
Other Increases0OtherIncreases
Subtotal106282Subtotal
Other Decreases0OtherDecreases
Total Net Assets Fund Balances EOY106282TotalNetAssetsFundBalancesEOY

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

FieldValueIRS element (for citing)
Liable For4942 Tax0LiableFor4942Tax
Qualifying Distributions Year110000QualifyingDistributionsYear1
Noncharitable Assets Year1134005NoncharitableAssetsYear1
Distribution Ratio Year10.074624DistributionRatioYear1
Qualifying Distributions Year254400QualifyingDistributionsYear2
Noncharitable Assets Year255324NoncharitableAssetsYear2
Distribution Ratio Year20.983298DistributionRatioYear2
Qualifying Distributions Year34000QualifyingDistributionsYear3
Noncharitable Assets Year327904NoncharitableAssetsYear3
Distribution Ratio Year30.143349DistributionRatioYear3
Qualifying Distributions Year40QualifyingDistributionsYear4
Noncharitable Assets Year40NoncharitableAssetsYear4
Distribution Ratio Year40.0DistributionRatioYear4
Total Distribution Ratio1.201271TotalDistributionRatio
Average Distribution Ratio0.300318AverageDistributionRatio
Net Noncharitable Assets111907NetNoncharitableAssets
Adjusted Noncharitable Assets33608AdjustedNoncharitableAssets
One Percent Net Investment Income0OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One33608AdjNonchrtblAssetsAndOnePct
Qualifying Distributions25000QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

FieldValueIRS element (for citing)
Investment Income Excise Tax0InvestmentIncomeExciseTax
Tax Under Section5110TaxUnderSection511
Subtotal0Subtotal
Subtitle A Tax0SubtitleATax
Tax Based On Investment Income0TaxBasedOnInvestmentIncome
Total Credits And Payments0TotalCreditsAndPayments
Tax Due0TaxDue

Statements Regarding Activities StatementsRegardingActivities

FieldValueIRS element (for citing)
Legislative Political Activities0LegislativePoliticalActivities
More Than100 Spent0MoreThan100Spent
Form1120 POL Filed0Form1120POLFiled
Sect4955 Tax On Organization0Sect4955TaxOnOrganization
Sect4955 Tax On Managers0Sect4955TaxOnManagers
Reimbursement Of Tax0ReimbursementOfTax
Activities Not Prev Reported0ActivitiesNotPrevReported
Changes To Articles Or Bylaws0ChangesToArticlesOrBylaws
Unrelated Bus Income Over10000UnrelatedBusIncomeOver1000
Termination Etc0TerminationEtc
Requirements Of Sect508e0RequirementsOfSect508e
At Least5000 In Assets1AtLeast5000InAssets
States Filed WithSCStatesFiledWith
Form990 PF Filed With AG1Form990PFFiledWithAG
Private Operating Foundation0PrivateOperatingFoundation
New Substantial Contributors0NewSubstantialContributors
Interest In Controlled Entity0InterestInControlledEntity
Applicable Insurance Contract0ApplicableInsuranceContract
Comply With Public Inspection Rqr1ComplyWithPublicInspectionRqr
Website AddressN/AWebsiteAddress

Books In Care Of Business Name BooksInCareOfBusinessName

FieldValueIRS element (for citing)
Business Name Line1THE FOUNDATIONBusinessNameLine1
FieldValueIRS element (for citing)
Books In Care Of Phone Number8435243109BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

FieldValueIRS element (for citing)
Address Line122 SAMS POINT ROADAddressLine1
CityBEAUFORTCity
StateSCState
ZIP Code29907ZIPCode
FieldValueIRS element (for citing)
Foreign Bank0ForeignBank

Statements Regarding Acty4720 StatementsRegardingActy4720

FieldValueIRS element (for citing)
Sale Or Exchange With Dsqfly Person0SaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly Person0BorrowOrLendWithDsqflyPerson
Furnished Goods With Dsqfly Person0FurnishedGoodsWithDsqflyPerson
Pay Compensation To Dsqfly Person0PayCompensationToDsqflyPerson
Transfer Assets To Dsqfly Person0TransferAssetsToDsqflyPerson
Payment To Government Offical0PaymentToGovernmentOffical
Uncorrected Prior Acts0UncorrectedPriorActs
Undistributed Income Prior Years0UndistributedIncomePriorYears
Business Holdings0BusinessHoldings
Jeopardy Investments0JeopardyInvestments
Uncorrected Jeopardy Investments0UncorrectedJeopardyInvestments
Influence Legislation0InfluenceLegislation
Influence Election0InfluenceElection
Grants To Individuals0GrantsToIndividuals
Grants To Organizations0GrantsToOrganizations
Noncharitable Purpose0NoncharitablePurpose
Rcv Funds To Pay Prsnl Bnft Contract0RcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft Contract0PayPremiumsPrsnlBnftContract
Prohibited Tax Shelter Transactn0ProhibitedTaxShelterTransactn

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 PositionAvgHoursPerWkDevotedToPositionCompensationCompensationContri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtcExpense Account Other AllowancesExpenseAccountOtherAllowances
HERBERT G GRAY
22 SAMS POINT ROADBEAUFORTSC29907TRUSTEE1.00000
RICHARD L GRAY
22 SAMS POINT ROADBEAUFORTSC29907TRUSTEE1.00000
JOYCE G GRAY
22 SAMS POINT ROADBEAUFORTSC29907TRUSTEE1.00000
CAROLINE G BEVON
22 SAMS POINT ROADBEAUFORTSC29907TRUSTEE1.00000
SUZANNE GRAY BURNS
22 SAMS POINT ROADBEAUFORTSC29907TRUSTEE1.00000
RICHARD L GRAY JR
22 SAMS POINT ROADBEAUFORTSC29907TRUSTEE1.00000
FieldValueIRS element (for citing)
Comp Of Highest Paid Empl NONENONECompOfHighestPaidEmplNONE
Tot Number Of Oth Empl Paid Over50k0TotNumberOfOthEmplPaidOver50k
Comp Of Hghst Paid Cntrct NONENONECompOfHghstPaidCntrctNONE
Tot Number Of Cntrct Paid Over50k0TotNumberOfCntrctPaidOver50k

Sum Of Program Related Investments SumOfProgramRelatedInvestments

FieldValueIRS element (for citing)
Total0Total

Minimum Investment Return MinimumInvestmentReturn

FieldValueIRS element (for citing)
Avg Monthly FMV Of Securities0AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances113611AvgMonthlyCashBalances
FMV All Other Noncharitable Assets0FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets113611TotalFMVOfUnusedAssets
Reduction Claimed0ReductionClaimed
Acquisition Indebtedness0AcquisitionIndebtedness
Adj Total FMV Of Unused Assets113611AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable1704CashDeemedCharitable
Net Noncharitable Assets111907NetNoncharitableAssets
Minimum Investment Return5595MinimumInvestmentReturn

Distributable DistributableAmount

FieldValueIRS element (for citing)
Minimum Investment Return5595MinimumInvestmentReturn
Total Tax0TotalTax
Distributable Amount Before Adj5595DistributableAmountBeforeAdj
Recoveries Qlfy Distributions0RecoveriesQlfyDistributions
Distributable Amount Before Ded5595DistributableAmountBeforeDed
Deduction Fr Distributable$0DeductionFrDistributableAmount
Distributable Amount As Adjusted5595DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

FieldValueIRS element (for citing)
Expenses And Contributions25000ExpensesAndContributions
Program Related Investments Total0ProgramRelatedInvestmentsTotal
Qualifying Distributions25000QualifyingDistributions
One Pct Sect4940e Org Net Invst Incm0OnePctSect4940eOrgNetInvstIncm
Adj Qualifying Distributions25000AdjQualifyingDistributions

Undistributed Income UndistributedIncome

FieldValueIRS element (for citing)
Distributable Amount As Adjusted5595DistributableAmountAsAdjusted
Undistributed Income Prior Year0UndistributedIncomePriorYear
Total For Prior Years0TotalForPriorYears
Excess Distri Carryover Year32605ExcessDistriCarryoverYear3
Excess Distri Carryover Year251634ExcessDistriCarryoverYear2
Excess Distri Carryover Year13300ExcessDistriCarryoverYear1
Total Excess Distri Carryover57539TotalExcessDistriCarryover
Qualifying Distributions25000QualifyingDistributions
Applied To Year10AppliedToYear1
Applied To Prior Years0AppliedToPriorYears
Treated As Distri From Corpus0TreatedAsDistriFromCorpus
Applied To Current Year5595AppliedToCurrentYear
Remaining Distri From Corpus19405RemainingDistriFromCorpus
Excess Distri Cyov App CY Corpus0ExcessDistriCyovAppCYCorpus
Excess Distri Cyov Applied CY0ExcessDistriCyovAppliedCY
Total Corpus76944TotalCorpus
Prior Year Undistributed Income0PriorYearUndistributedIncome
Prior Year Deficiency Or Tax0PriorYearDeficiencyOrTax
Taxable Amount10TaxableAmount1
Taxable Amount20TaxableAmount2
Undistributed Income CY0UndistributedIncomeCY
Distri From Corpus170b1 E Or4942g30DistriFromCorpus170b1EOr4942g3
Excess Distri Cyov From Year50ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year76944ExcessDistriCyovToNextYear
Excess From Year32605ExcessFromYear3
Excess From Year251634ExcessFromYear2
Excess From Year13300ExcessFromYear1
Excess From Current Year19405ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

FieldValueIRS element (for citing)
Only Contributes To PreselectedXOnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1BEAUFORT ACADEMYBusinessNameLine1

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1240 SAMS POINT ROADAddressLine1
CityBEAUFORTCity
StateSCState
ZIP Code29907ZIPCode
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationship
Recipient Foundation StatusPUBLIC CHARITYRecipientFoundationStatus
Purpose Of Grant Or ContributionGENERAL OPERATIONSPurposeOfGrantOrContribution
Amount$25,000Amount
FieldValueIRS element (for citing)
Tot Grant Or Contri Paid During Year25000TotGrantOrContriPaidDuringYear
Tot Grant Or Contri Approved Future0TotGrantOrContriApprovedFuture

Analysis Income Producing Acty AnalysisIncomeProducingActy

Subtotals Part XVIA SubtotalsPartXVIA

FieldValueIRS element (for citing)
Unrelated Business Income$0UnrelatedBusinessIncomeAmount
Exclusion$0ExclusionAmount
Related Or Exempt Function Income0RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Part XVIA0TotalPartXVIA

Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO

FieldValueIRS element (for citing)
Trnsfr Of Cash To Noncharitable EO0TrnsfrOfCashToNoncharitableEO
Trnsfr Oth Assets Noncharitable EO0TrnsfrOthAssetsNoncharitableEO
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssets
Purchase Assets Noncharitable EO0PurchaseAssetsNoncharitableEO
Rental Of Facilities Etc0RentalOfFacilitiesEtc
Reimbursement Arrangements0ReimbursementArrangements
Loans Or Loan Guarantees0LoansOrLoanGuarantees
Performance Of Services Etc0PerformanceOfServicesEtc
Sharing Of Facilities Etc0SharingOfFacilitiesEtc
Relationships Noncharitable E Os0RelationshipsNoncharitableEOs

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses

FieldValueIRS element (for citing)
DescriptionBANK CHARGESDescription
Revenue And Expenses Per Books160RevenueAndExpensesPerBooks
Net Investment Income160NetInvestmentIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

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