Weldon Family Foundation in Wilson, North Carolina (NC)

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Weldon Family Foundation
Employer Identification Number (EIN)546786175
Name of OrganizationWeldon Family Foundation
In Care of NameBranch Banking And Trust Company
AddressPO BOX 2907, Wilson, NC 27894-2907
SubsectionCharitable Organization
Ruling Date11/2008
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$500,000 to $999,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$815,900
Amount of Income$146,655
Form 990 Revenue Amount$42,031
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2012: $146,655 (it was $174,786 in 2011)
This organization: 

 $146,655
Other organizations performing similar types of work: 

 $97,434

Assets in 2012: $815,900 (it was $795,259 in 2011)
Weldon Family Foundation: 

 $815,900
Other organizations performing similar types of work: 

 $303,611

Financial snapshot ($)

Revenue for 2011

Expenses for 2011

Assets for 2011

Analysis of Revenue and Expenses (for 2011)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$42,031$42,031$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$18,355
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$23,676
Total expenses and disbursements$48,658$10,180$0$37,400
Compensation of officers, directors, trustees, etc.$10,180
Total operating and administrative expenses$11,258$10,180$0
Contributions, gifts, grants paid$37,400
Excess of revenue over expenses and disbursements$-6,627
Net investment income$31,851
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$795,259$867,591
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$761,921
Other$33,338
Total liabilities$1
Mortgages and other notes payable$0
Other$1
Total liabilities and net assets/fund balances$795,259
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$23,676
Net capital loss$0
Excise Tax Based on Investment Income (for 2011)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$319
Total credits and payments$352
2011 estimated tax payments and 2010 overpayment credited to 2011$352
Exempt foreign organizations-tax withheld at source$0
Tax paid with application for extension of time to file (Form 8868)$0
Backup withholding erroneously withheld$0
Any penalty for underpayment of estimated tax$0
Overpayment$33
Amount to be credited to 2012 estimated tax$33
Statements Regarding Activities (for 2011)
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 2011 or the taxable year beginning in 2011?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2011)
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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011?No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?No
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 2011)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$928,403
Net value of noncharitable-use assets$914,480
Minimum investment return$45,724
Distributable Amount (for 2011)
Distributable amount$45,405
Undistributed Income (for 2011)
Distributable amount for 2011$45,405
Undistributed income for 2011. This amount must be distributed in 2012$3,575
Private Operating Foundations (for 2011)
2011201020092008Total
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$129,599,125
2Mary And Fred Godley Family Foundation, Elizabeth Godley Spence Ttee1525 W Wt Harris Blvd, Charlotte, NC 28288-0001NC2012-11$15,457,472
3E Claiborne Robins Jr Charitable Tr1525 W Wt Harris Blvd, Charlotte, NC 28288-0001NC2011-03$14,528,817
4The@w Duke Kimbrell Family Foundation1525 W Wt Harris Blvd, Charlotte, NC 28288-0001NC2005-11$13,091,785
5Alexander Mccausland Charitable Tr 65208581021525 W Wt Harris Blvd D1114-044, Charlotte, NC 28288-0001NC2009-06$7,367,464
6The 25th Century Foundation1525 Wwt Harris Blvd D1114-044, Charlotte, NC 28288-0001NC2000-11$6,978,112
7Strowd Roses Inc1526 E Franklin St Ste 202, Chapel Hill, NC 27514-2827NC2001-05$6,763,654
8Smithville Charitable Foundation1525 W W T Harris D1114-044, Charlotte, NC 28288-0001NC2007-09$5,864,555
9Satterwhite Family Foundation Inc1525 W Wt Harris Blvd, Charlotte, NC 28288-0001NC2007-06$5,267,907
10Tom Davis FundPO BOX 25864, Winston Salem, NC 27114-5864NC1989-01$3,905,466
11The Elizabeth@hurlock Beckman Award Trust1525 W Wt Harris Blvd, Charlotte, NC 28288-0001NC2009-01$3,724,331
12Diana Springer Scholarship Tr Uw David Springer, Diane Foster Ttee250 Magnolia Ave, Mocksville, NC 27028-2910NC2013-07$3,689,066
13Don And Jo Cline Family Foundation1210 Hobbs Rd, Greensboro, NC 27410-4822NC2009-09$3,392,345
14The Asha And Sajjan Agarwal Foundation1330 Sunday Dr Ste 105, Raleigh, NC 27607-5196NC2008-02$3,330,984
15Bissell Foundation13860 Ballantyne Corporate Pl 300, Charlotte, NC 28277-3167NC2007-09$3,263,153
16Well-Spring Foundation4100 Well Spring Drive, Greensboro, NC 27410-8857NC2001-04$2,956,311
17Zelnak Private Foundation409 Drummond Dr, Raleigh, NC 27609-7033NC1999-08$2,467,516
18Laughing Gull Foundation1003 Lamond Ave, Durham, NC 27701-2020NC2013-02$2,227,509
19Vivan S West TrustOne Hanover Square 3rd Fl, Raleigh, NC 27601-1754NC1999-07$2,210,025
20Trent Ragland Jr Trust 1019894918, Ust1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28288-0001NC1961-03$1,957,686
Number of organizations performing similar types of work
Alaska25
Alabama192
Arkansas70
Arizona288
California2,416
Colorado378
Connecticut382
District of Columbia106
Delaware539
Florida1,396
Georgia456
Hawaii80
Iowa165
Idaho53
Illinois1,024
Indiana284
Kansas148
Kentucky156
Louisiana146
Massachusetts669
Maryland401
Maine82
Michigan596
Minnesota362
Missouri307
Mississippi62
Montana62
North Carolina519
North Dakota20
Nebraska159
New Hampshire72
New Jersey843
New Mexico87
Nevada190
New York2,482
Ohio691
Oklahoma217
Oregon198
Pennsylvania1,160
Rhode Island172
South Carolina161
South Dakota27
Tennessee240
Texas1,146
Utah259
Virginia453
Vermont52
Washington359
Wisconsin355
West Virginia66
Wyoming57
International34
Total20,864

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