Cart Foundation in Sullivans Is, South Carolina (SC)

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Cart Foundation
Employer Identification Number (EIN)570987085
Name of OrganizationCart Foundation
In Care of NameKatharine Crawford
Address927 Middle St, Sullivans Is, SC 29482-8729
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date02/1995
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$2,164,672
Amount of Income$520,625
Form 990 Revenue Amount$116,094
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations


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Amount of income in 2011: $520,625 (it was $1,226,714 in 2010)
Cart Foundation: 

 $520,625
Other organizations performing similar types of work: 

 $120,021

Assets in 2011: $2,164,672 (it was $2,204,543 in 2010)
This organization: 

 $2,164,672
Other organizations performing similar types of work: 

 $470,342

Expenses in 2011: $155,964
Cart Foundation: 

 $155,964
Other organizations performing similar types of work: 

 $61,754

Income to expenses ratio in 2011: 3.3
Cart Foundation: 

 3.3
Other organizations performing similar types of work: 

 2.0

Grants share in income in 2011: 1.0%
Cart Foundation: 

 1.0%
Other organizations performing similar types of work: 

 0.0%

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$116,094$114,891$70,980
Contributions, gifts, grants, etc., received$1,203
Interest on savings and temporary cash investments$389
Dividends and interest from securities$66,123
Gross rents$0
Gross profit from sales of goods$0
Other income$999
Other$47,380
Total expenses and disbursements$155,964$23,102$35,964$120,000
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$35,964$23,102$0
Contributions, gifts, grants paid$120,000
Excess of revenue over expenses and disbursements$-39,870
Net investment income$91,789
Adjusted net income$35,016
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$2,164,672$2,271,372
Cash - non-interest-bearing$386,109
Investments-U.S. and state government obligations$0
Investments-corporate stock$1,778,562
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$1
Total liabilities$0
Total liabilities and net assets/fund balances$2,164,672
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$47,380
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$1,836
Total credits and payments$7,523
2011 estimated tax payments and 2010 overpayment credited to 2011$6,800
Exempt foreign organizations-tax withheld at source$723
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$5,687
Amount to be credited to 2012 estimated tax$5,687
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$2,337,158
Net value of noncharitable-use assets$2,302,100
Minimum investment return$115,105
Distributable Amount (for 2011)
Distributable amount$113,269
Undistributed Income (for 2011)
Distributable amount for 2011$113,269
Undistributed income for 2011. This amount must be distributed in 2012$39,204
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
1S & G FoundationPO BOX 860, Saratoga Spgs, NY 12866-0860NY1998-01$316,260,515
2The Walsh Foundation190 S Lasalle St Ste 1700, Chicago, IL 60603-3496IL1995-06$46,605,330
3Cassels Foundation420 Davega Dr, Lexington, SC 29073-7485SC1996-07$12,841,178
4Vandy Charitable Foundation IncPO BOX 458, Georgetown, SC 29442-0458SC1995-10$5,497,977
5Pope-Brown FoundationPO BOX 190, Newberry, SC 29108-0190SC1996-10$772,032
6Cart Foundation927 Middle St, Sullivans Is, SC 29482-8729SC1995-02$520,625
7Securitys Lending Hand FoundationPO BOX 811, Spartanburg, SC 29304-0811SC1996-03$420,000
8Jewish Endowment Fund Inc635 Rutledge Ave Ste 201, Charleston, SC 29403-4464SC1996-12$393,643
9Herzman-Fishman Foundation330 Concord St Apt 17c, Charleston, SC 29401-1510SC1995-11$290,561
10The Ano Charitable Foundation Trust9 Woodstork Watch Callawassie, Okatie, SC 29909SC1997-07$210,839
11Eleanor A And Bernard H Breedlove FoundationPO BOX 785, Bluffton, SC 29910-0785SC1995-09$185,906
12Linda Moody Robertson FoundationPO BOX 9443, Greenville, SC 29604-9443SC1997-12$149,938
13Brookland FoundtionPO BOX 2026, Columbia, SC 29202-2026SC1997-01$82,238
14Smith Foundation Dtd 062195, Potts Eugenia S Ttee515 Wade Hampton Blvd, Greer, SC 29652SC1996-01$75,603
15Button & Rod Cook Fdn Charitable Tr 041498, Merritt & Tenney Llp503 Scarborough Dr, Greer, SC 29650-3669SC1998-05$56,288
16Dee And Rick Ray Foundation Inc33 S Beach Lagoon Rd, Hilton Head, SC 29928-5716SC1997-05$32,783
17Roger S Strange Memorial Endowment For Christian Education, The Roger S Strange Memorial Endowment For Christian Education406 Brushy Creek Rd, Taylors, SC 29687-3530SC1995-03$6,693
18Ryan Crout Foundation Charitable Trust141 Bridgewood Ct, Gilbert, SC 29054-9046SC1996-09$3,283
19Rushing FoundationPO BOX 6648, Greenville, SC 29606-6648SC1995-03$2,000
20Abbeville Presbyterian Church Foundation201 N Main St, Abbeville, SC 29620-1744SC1997-12$0
Number of organizations performing similar types of work
Alabama57
Arkansas13
Arizona25
California194
Colorado52
Connecticut33
District of Columbia19
Delaware17
Florida265
Georgia95
Hawaii12
Iowa17
Idaho7
Illinois126
Indiana58
Kansas19
Kentucky18
Louisiana33
Massachusetts75
Maryland77
Maine8
Michigan100
Minnesota45
Missouri17
Mississippi18
Montana7
North Carolina122
North Dakota2
Nebraska18
New Hampshire11
New Jersey112
New Mexico4
Nevada17
New York230
Ohio138
Oklahoma29
Oregon20
Pennsylvania166
Rhode Island22
South Carolina27
South Dakota2
Tennessee51
Texas160
Utah24
Virginia74
Vermont8
Washington23
Wisconsin52
West Virginia16
Wyoming7
International2
Total2,744

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