The Kaycliff Foundation in Kingsport, Tennessee (TN)

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The Kaycliff Foundation
Employer Identification Number (EIN)721620189
Name of OrganizationThe Kaycliff Foundation
In Care of NameDavid H Hornik
AddressPO BOX 3705, Kingsport, TN 37664-0705
SubsectionCharitable Organization, Educational Organization
Ruling Date12/2006
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$7,389,898
Amount of Income$4,996,623
Form 990 Revenue Amount$114,457
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: History Museums


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Amount of income in 2013: $4,996,623 (it was $1,314,001 in 2012)
This organization: 

 $4,996,623
Other organizations performing similar types of work: 

 $42,230

Assets in 2013: $7,389,898 (it was $7,148,814 in 2012)
The Kaycliff Foundation: 

 $7,389,898
Other organizations performing similar types of work: 

 $110,927

Expenses in 2013: $270,718
This organization: 

 $270,718
Other organizations performing similar types of work: 

 $32,454

Income to expenses ratio in 2013: 18.5
The Kaycliff Foundation: 

 18.5
Other organizations performing similar types of work: 

 1.6

Grants share in income in 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 27.1%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$513,202$102,616$108,666
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$9
Dividends and interest from securities$102,607
Gross rents$0
Gross sales price for all assets$4,887,957
Gross profit from sales of goods$0
Other income$6,050
Other$404,536
Total expenses and disbursements$270,718$55,451$68,317$115,130
Compensation of officers, directors, trustees, etc.$32,286
Pension plans, employee benefits$0
Legal fees$8,926
Accounting fees$0
Interest$0
Depreciation$87,271
Occupancy$42,692
Travel, conferences, and meetings$1,422
Printing and publications$249
Total operating and administrative expenses$270,718$55,451$115,130
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$242,484
Net investment income$47,165
Adjusted net income$40,349
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$7,176,598$7,308,366$7,148,814$7,511,999$7,389,898$8,253,756
Cash - non-interest-bearing$16,855$25,985$500
Investments-U.S. and state government obligations$3,398,218$3,271,454$3,668,957
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
Total liabilities$2,800$1,700$300
Mortgages and other notes payable$0$0$0
Other liabilities$1,700$300
Total liabilities and net assets/fund balances$7,173,798$7,147,114$7,389,598
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$0$174,792$404,536
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$726$946$943
Total credits and payments$1,200$974$1,128
Current year estimated tax payments and previous year's overpayment credited to current year$1,200$974$1,128
Exempt foreign organizations-tax withheld at source$0$0$0
Tax paid with application for extension of time to file (Form 8868)$0$0$0
Backup withholding erroneously withheld$0$0$0
Any penalty for underpayment of estimated tax$0$0$7
Tax due$0$0
Overpayment$28$178
Amount to be credited to next year's estimated tax$474$28$178
Statements Regarding Activities
201120122013
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?NoNo
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?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
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?NoNo
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?YesYesYes
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
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?NoNo
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?NoNo
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?NoNo
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?NoNo
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?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$8,175,813$7,359,164$7,957,904
Net value of noncharitable-use assets$7,248,777$7,838,535
Minimum investment return$402,659$362,439$391,927
Distributable Amount
201120122013
Distributable amount$0$0$0
Undistributed Income
201120122013
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 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$40,349$0$36,282$32,884$109,515
Qualifying distributions made directly for active conduct of exempt activities$115,130$323,522$1,675,079$515,175$2,628,906
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$261,285$241,626$268,439$248,671$1,020,021
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 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
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$9$0
Dividends and interest from securities$102,607$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
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 Kaycliff FoundationPO BOX 3705, Kingsport, TN 37664-0705TN2006-12$4,996,623
2Shae Foundation11306 Blair Rd, Apison, TN 37302-9706TN2007-07$185,001
3Engel Foundation IncPO BOX 3622, Chattanooga, TN 37404-0622TN2011-08$124,066
4The Charles A Hall And Billie L Hall Family Foundation229 Cherohala Skwy, Tellico Plns, TN 37385-5500TN2006-01$34,940
5Oak Ridge Revitalization Effort1666 Oak Ridge Tpke, Oak Ridge, TN 37830-4933TN2010-10$34,249
6Union County Historical Society IncPO BOX 95, Maynardville, TN 37807TN2013-04$12,536
7Overton County Heritage Museum Inc318 W Broad St, Livingston, TN 38570-1804TN2010-07$4,454
8African American Heritage Society Of Maury CountyPo Box 1403, Columbia, TN 38402TN2013-01$0
9African American Museum Of Memphis5117 White Lake Cv, Memphis, TN 38125-3825TN2006-03$0
10African Roots Museum12704 Tina Turner Hwy 19 East, Nutbush, TN 38063TN2004-03$0
11Buford Pusser Foundation IncPO BOX 24, Adamsville, TN 38310-0024TN2008-07$0
12City Garage Car Museum IncPo Box 459, Greeneville, TN 37744TN2011-12$0
13Clifton Historical Foundation IncorporatedPO BOX 657, Clifton, TN 38425-0657TN1996-09$0
14Coal Miners Museum Of The Cumberlands IncP O Box 223, Rocky Top, TN 37769TN2014-04$0
15Daughters Of Union Veterans Of The Civil War 1861-1865, 2 Tennessee Tent429 Foundry Cir, Murfreesboro, TN 37128-5125TN2010-02$0
16Daughters Of Union Veterans Of The Civil War 1861-1865, Daughters Of Union Veterans Of The Civil War 1861-1865 Tennessee Tent 3318 Ownby Circle, Gatlinburg, TN 37738TN2010-02$0
17Fentress County MuseumPo Box 1214, Jamestown, TN 38556TN2001-03$0
18First Fire Truck FundPo Box 2325, Morristown, TN 37816TN2011-05$0
19Giles County Historical SocietyPo Box 957, Pulaski, TN 38478TN2013-03$0
20Grand Junction Depot Museum Corporation10000 Lake Hardeman Road, Middleton, TN 38052TN2014-12$0
Number of organizations performing similar types of work
Alaska8
Alabama36
Arkansas25
Arizona32
California185
Colorado49
Connecticut18
District of Columbia12
Delaware5
Florida78
Georgia53
Hawaii11
Iowa57
Idaho14
Illinois84
Indiana53
Kansas32
Kentucky38
Louisiana28
Massachusetts57
Maryland44
Maine30
Michigan82
Minnesota50
Missouri51
Mississippi27
Montana19
North Carolina73
North Dakota4
Nebraska24
New Hampshire21
New Jersey57
New Mexico23
Nevada20
New York129
Ohio91
Oklahoma33
Oregon37
Pennsylvania105
Rhode Island11
South Carolina39
South Dakota21
Tennessee53
Texas176
Utah14
Virginia91
Vermont17
Washington57
Wisconsin47
West Virginia33
Wyoming12
International9
Total2,375

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