Harvest Time Foundation in Shelby, North Carolina (NC)

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Harvest Time Foundation
Employer Identification Number (EIN)061700689
Name of OrganizationHarvest Time Foundation
In Care of NameMachine Builders Inc
Address806 N Post Rd, Shelby, NC 28150-4247
SubsectionReligious Organization
Ruling Date03/2008
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$3,591,169
Amount of Income$1,381,360
Form 990 Revenue Amount$384,717
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $1,381,360 (it was $1,392,795 in 2012)
Harvest Time Foundation: 

 $1,381,360
Other organizations performing similar types of work: 

 $105,489

Assets in 2013: $3,591,169 (it was $3,771,357 in 2012)
This organization: 

 $3,591,169
Other organizations performing similar types of work: 

 $325,460

Expenses in 2012: $1,441,663
Harvest Time Foundation: 

 $1,441,663
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2012: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 43.0%
This organization: 

 43.0%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$1,245,243$40,170$696,550
Contributions, gifts, grants, etc., received$535,198
Interest on savings and temporary cash investments$1,244
Dividends and interest from securities$25,431
Gross rents$0
Gross profit from sales of goods$0
Other income$669,875
Other$13,495
Total expenses and disbursements$1,441,663$42,773$1,223,146$212,800
Compensation of officers, directors, trustees, etc.$37,848
Total operating and administrative expenses$1,228,863$42,773$0
Contributions, gifts, grants paid$212,800
Excess of revenue over expenses and disbursements$-196,420
Net investment income$0
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$3,771,357$4,123,989
Cash - non-interest-bearing$52,057
Investments-U.S. and state government obligations$0
Investments-corporate stock$163,891
Investments-corporate bonds$30,000
Investments-mortgage loans$0
Investments-other$1,091,978
Other$2,433,431
Total liabilities$0
Total liabilities and net assets/fund balances$3,771,357
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$13,495
Net capital loss$0
Excise Tax Based on Investment Income (for 2012)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$0
Total credits and payments$2,723
2012 estimated tax payments and 2011 overpayment credited to 2012$1,223
Exempt foreign organizations-tax withheld at source$0
Tax paid with application for extension of time to file (Form 8868)$1,500
Backup withholding erroneously withheld$0
Any penalty for underpayment of estimated tax$0
Tax due$0
Overpayment$2,723
Amount to be credited to 2013 estimated tax$2,723
Statements Regarding Activities (for 2012)
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?No
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2012)
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?No
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?No
Furnish goods, services, or facilities to (or accept them from) a disqualified person?No
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?No
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?No
Agree to pay money or property to a government official?No
At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012?No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?Yes
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?No
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?No
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?No
Provide a grant to an individual for travel, study, or other similar purposes?No
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?No
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?No
Minimum Investment Return (for 2012)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$4,177,879
Net value of noncharitable-use assets$4,115,220
Minimum investment return$205,761
Distributable Amount (for 2012)
Distributable amount$205,761
Undistributed Income (for 2012)
Distributable amount for 2012$205,761
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1William R Kenan Jr Charitable Tr, F H & T S Kenan Et Al TteesPO BOX 4150, Chapel Hill, NC 27515-4150NC2012-08$93,330,220
2Fredrick D And Karen G Schaufeld Family Foundation1101 Norwalk St, Greensboro, NC 27407-2022NC2015-01$16,232,798
3The@w Duke Kimbrell Family Foundation1525 W W T Harris Blvd D1114-044, Charlotte, NC 28262-8522NC2005-11$12,213,200
4Roland R & Hazel C Todd Foundation Trust - 826749001 W 4th St 4th Fl, Winston Salem, NC 27101-3818NC2010-12$9,883,267
5Weston Havens Foundation Tr1 W 4th St 4th Fl, Winston Salem, NC 27101-3818NC2003-06$9,675,167
6William Josef Foundation Inc1525 W W T Harris Blvd, Charlotte, NC 28262-8522NC2007-06$9,263,796
7James B Linsmayer Foundation Tr1 W 4th St, Winston Salem, NC 27101-3818NC2011-02$8,487,098
8The Asha And Sajjan Agarwal Foundation1330 Sunday Dr Ste 105, Raleigh, NC 27607-5196NC2008-02$7,910,308
9E Claiborne Robins Jr Charitable Tr1525 W W T Harris Blvd, Charlotte, NC 28262-8522NC2011-03$7,353,862
10City Of Oaks Foundation IncPO BOX 18928, Raleigh, NC 27619-8928NC2011-11$6,160,041
11Mark And Judy Heinemann Foundationinc18916 Riverwind Ln, Davidson, NC 28036-7849NC2007-06$5,960,044
12Smithville Charitable Foundation1525 W W T Harris D1114-044, Charlotte, NC 28288-0001NC2007-09$5,864,555
13Jt Hobby Jr Endowment Fund, J T Hobby Jr TteePO BOX 18506, Raleigh, NC 27619-8506NC2012-07$5,557,143
14Margaret B Vaughn Charitable Foundation, First Presylerian Church Et Al TteePO BOX 2907, Wilson, NC 27894-2907NC2012-10$5,545,055
15Alexander Mccausland Charitable Tr 65208581021525 W Wt Harris Blvd D1114-044, Charlotte, NC 28262NC2009-06$5,049,483
16Robert K Mosser Trust Uw1 W 4th St 4th Fl, Winston Salem, NC 27101-3818NC2009-08$5,006,608
17The 25th Century Foundation1525 W W T Harris Blvd, Charlotte, NC 28262-8522NC2000-11$4,880,972
18Victor W Kramer Charitable Tr1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28262NC2012-10$4,675,466
19Robert Sidney Needham Foundation1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28262NC2010-04$4,395,351
20William C Ethridge Foundation IncPO BOX 18347, Raleigh, NC 27619-8347NC2014-02$3,826,608
Number of organizations performing similar types of work
Alaska25
Alabama219
Arkansas78
Arizona303
California2,586
Colorado408
Connecticut419
District of Columbia111
Delaware583
Florida1,525
Georgia481
Hawaii85
Iowa178
Idaho58
Illinois1,113
Indiana311
Kansas157
Kentucky167
Louisiana161
Massachusetts705
Maryland425
Maine85
Michigan619
Minnesota384
Missouri346
Mississippi70
Montana69
North Carolina788
North Dakota20
Nebraska169
New Hampshire75
New Jersey876
New Mexico92
Nevada215
New York2,617
Ohio698
Oklahoma228
Oregon208
Pennsylvania1,086
Rhode Island184
South Carolina171
South Dakota32
Tennessee266
Texas1,263
Utah274
Virginia477
Vermont54
Washington401
Wisconsin354
West Virginia69
Wyoming63
International44
Total22,395

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