Teach Foundation in Hartsville, South Carolina (SC)

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Teach Foundation
Employer Identification Number (EIN)452542245
Name of OrganizationTeach Foundation
In Care of NameSharman Poplava
Address214 N 5th St, Hartsville, SC 29550-4136
SubsectionCharitable Organization
Ruling Date12/2011
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$100,000 to $499,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$206,979
Amount of Income$820,000
Form 990 Revenue Amount$820,000
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2014: $820,000 (it was $925,002 in 2013)
This organization: 

 $820,000
Other organizations performing similar types of work: 

 $105,489

Assets in 2014: $206,979 (it was $163,838 in 2013)
This organization: 

 $206,979
Other organizations performing similar types of work: 

 $325,460

Expenses in 2014: $776,976
This organization: 

 $776,976
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2014: 1.1
Teach Foundation: 

 1.1
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2014: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot ($)

Expenses for 2014

Analysis of Revenue and Expenses (for 2014)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$820,000$0$0
Contributions, gifts, grants, etc., received$820,000
Interest on savings and temporary cash investments$0
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$776,976$0$0$0
Compensation of officers, directors, trustees, etc.$63,317
Pension plans, employee benefits$4,844
Legal fees$0
Accounting fees$11,100
Interest$0
Depreciation$0
Occupancy$1,108
Travel, conferences, and meetings$7,640
Printing and publications$0
Total operating and administrative expenses$95,742$0$0
Contributions, gifts, grants paid$681,234
Excess of revenue over expenses and disbursements$43,024
Net investment income$0
Adjusted net income$0
Balance Sheets
201220132014
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$63,548$63,548$163,838$163,838$206,979$206,979
Cash - non-interest-bearing$63,548$163,838$206,979
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$0$0
Total liabilities$1,532$1,621$1,738
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$62,016$162,217$205,241
Capital Gains and Losses for Tax on Investment Income
201220132014
Capital gain net income$0$0$0
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201220132014
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$0$0$0
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0$0
Overpayment$0$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201220132014
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?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?YesYesYes
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201220132014
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
Minimum Investment Return
201220132014
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$0$0$0
Net value of noncharitable-use assets$0$0$0
Minimum investment return$0$0$0
Distributable Amount
201220132014
Distributable amount$0$0$0
Undistributed Income
201220132014
Distributable amount for this year$0$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2011 - 2014)
2014201320122011Total
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
Supplementary Information (for 2014)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2014)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2014)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The@james B Near Family Foundation251 Grove St, Charleston, SC 29403-3537SC2001-05$2,802,056
2Workman Family Charitable Tr6 Calendar Court No 1, Columbia, SC 29206-4715SC2010-10$2,137,125
3Richard & Evelyn Venable Foundation Under The Evelyn Venable Tr, Harley D Ruff Ttee17 Professional Village Cir, Beaufort, SC 29907-1573SC2013-12$1,100,798
4Watts Family Foundation391 Beach Bridge Rd, Pawleys Isl, SC 29585-8239SC2015-04$1,089,181
5Teach Foundation214 N 5th St, Hartsville, SC 29550-4136SC2011-12$820,000
6The Laura E Dupont FoundationPO BOX 8099, Greenville, SC 29604-8099SC1999-04$668,132
7Fred And Boots Dodson Charitable FoundationPO BOX 865, Greenville, SC 29602-0865SC2014-02$592,617
8Smith Family Fund 07-02-002-0188748120 Edisto Ave, Columbia, SC 29205-3012SC2001-05$459,391
9Robert S & Vivian Johnsonfoundation, Johnson FoundationPO BOX 476, Latta, SC 29565-0476SC2008-11$387,361
10Medford Family Foundation Inc107 Outrigger, Greenwood, SC 29649-8622SC2010-06$212,647
11Gary Davis Family FoundationPO BOX 339, Awendaw, SC 29429-0339SC2012-03$179,423
12Shirley Smith FoundationPO BOX 4284, Anderson, SC 29622-4284SC2001-09$176,595
13Safety Components First Responder 911 Foundation40 Emery St, Greenville, SC 29605-4572SC2003-01$172,995
14Wolfe Family Foundation420 Davega Dr, Lexington, SC 29073-7485SC2005-03$145,591
15Hart Foundation, James M Hart Ttee136 Cove Ct, Irmo, SC 29063-8986SC2011-02$139,496
16The@o Perry Earle Jr And Louise Jordan Earle Foundation, Earle Jordan F TteeLocal, Fountain Inn, SC 29644SC1999-07$135,464
17Johnson Family Foundation Inc711 Rivers St, Lake City, SC 29560-2913SC2013-09$100,001
18Tim And Sarah Jur Foundation1102 Axtell Dr, Cayce, SC 29033-4306SC2013-01$97,467
19Destined To Succeed IncPo Box 2971, Summerville, SC 29484SC2000-03$62,623
20The@bill And Mary Carter Charitable Foundation, Carter Mary Ellen Et Al TteePO BOX 668, Newberry, SC 29108-0668SC2005-06$59,815
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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