Franklin-Southampton Charities in Franklin, Virginia (VA)

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Franklin-Southampton Charities
Employer Identification Number (EIN)311613116
Name of OrganizationFranklin-Southampton Charities
In Care of NameJ William Gray Jr
AddressPO BOX 276, Franklin, VA 23851-0276
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date11/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$32,863,374
Amount of Income$2,788,788
Form 990 Revenue Amount$1,206,979
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Hospital, General

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Amount of income in 2013: $2,788,788 (it was $3,360,067 in 2012)
Franklin-Southampton Charities: 

Other organizations performing similar types of work: 


Assets in 2013: $32,863,374 (it was $30,448,974 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $1,779,972
Franklin-Southampton Charities: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 1.6
This organization: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 0.0%
Franklin-Southampton Charities: 

Other organizations performing similar types of work: 


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$2,788,788$2,788,788$1,000,267
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$489,989
Gross rents$0
Gross sales price for all assets$1,788,521
Gross profit from sales of goods$0
Other income$510,278
Total expenses and disbursements$1,779,972$146,246$0$1,579,200
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$1,437
Legal fees$0
Accounting fees$11,000
Travel, conferences, and meetings$730
Printing and publications$0
Total operating and administrative expenses$276,619$146,246$75,847
Contributions, gifts, grants paid$1,503,353
Excess of revenue over expenses and disbursements$1,008,816
Net investment income$2,642,542
Adjusted net income$1,000,267
Balance Sheets
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$31,694,007$31,370,777$28,582,554$28,708,940$30,448,974$30,240,393$32,863,374$34,280,398
Cash - non-interest-bearing$133,844$107,832$105,917$99,254
Investments-U.S. and state government obligations$0$0$0$0
Investments-corporate stock$31,559,902$28,474,722$29,341,151$32,761,818
Investments-corporate bonds$0$0$0$0
Investments-mortgage loans$0$0$0$0
Other assets$0$0$0
Total liabilities$441,417$450,998$443,422$475,828
Mortgages and other notes payable$0$0$0$0
Other liabilities$444,998$443,422$475,828
Total liabilities and net assets/fund balances$31,252,590$28,131,556$30,005,552$32,387,546
Capital Gains and Losses for Tax on Investment Income
Capital gain net income$366,716$742,894$1,311,644$1,788,521
Net capital loss$0$0$0$0
Excise Tax Based on Investment Income
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNoNo
Tax based on investment income$19,504$23,553$21,038$52,851
Total credits and payments$0$0$0$0
Any penalty for underpayment of estimated tax$198$473$472$472
Tax due$24,026$21,510$53,323
Amount to be credited to next year's estimated tax$0$0$0$0
Statements Regarding Activities
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?NoNoNoNo
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?NoNoNoNo
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?NoNoNoNo
Did any persons become substantial contributors during the tax year?NoNoNo
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
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNoNo
Agree to pay money or property to a government official?NoNoNoNo
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?NoNoNoNo
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?NoNoNoNo
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?NoNoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNoNo
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))?NoNoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNoNo
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)?NoNoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNoNo
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
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$30,107,595$32,580,650$31,897,052$32,907,545
Net value of noncharitable-use assets$32,091,940$31,418,596$32,413,932
Minimum investment return$1,482,799$1,604,597$1,570,930$1,620,697
Distributable Amount
Distributable amount$1,463,295$1,581,044$1,549,892$1,567,846
Undistributed Income
Distributable amount for this year$1,463,295$1,581,044$1,549,892$1,567,846
Undistributed income for this year. This amount must be distributed in the next year$1,414,839$1,487,246$1,456,519$1,445,165
Private Operating Foundations (for 2010 - 2013)
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 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$0$0
Dividends and interest from securities$489,989$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:
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 Degen FoundationPO BOX 10366, Fort Smith, AR 72917-0366AR1983-08$61,048,207
2Valley Hospital Foundation223 N Van Dien Ave, Ridgewood, NJ 07450-2726NJ1980-12$37,749,118
3United Hospital FoundationPO BOX 43, Minneapolis, MN 55440-0043MN1978-07$32,517,369
4The Spartanburg Regional Healthcare System FoundationC/O Jane Ovenden, Spartanburg, SC 29303SC1991-12$18,703,028
5Goodall-Witcher Hospital AuthorityPO BOX 549, Clifton, TX 76634-0549TX1966-11$18,046,045
6Saint Joseph Hospital Foundation1835 Franklin St, Denver, CO 80218-1126CO1977-06$13,974,946
7Sacred Heart Foundation5151 N 9th Ave, Pensacola, FL 32504-8721FL1946-03$11,443,875
8Franklin-Southampton CharitiesPO BOX 276, Franklin, VA 23851-0276VA1998-11$2,788,788
9Rappahannock General Hospital Foundation Inc101 Harris Rd, Kilmarnock, VA 22482-3880VA1983-01$1,669,962
10University Of Virginia Hospital Auxiliary IncPO BOX 800668, Charlottesvle, VA 22908-0668VA1950-03$728,184
11Carilion Clinic FoundationPO BOX 12385, Roanoke, VA 24025-2385VA1982-05$647,886
12Twig Junior Auxiliary Of The Alexandria HospitalPO BOX 16439, Alexandria, VA 22302-8439VA1977-05$442,431
13The Board For Womens Health2621 Grove Ave, Richmond, VA 23220-4308VA1972-01$185,128
14Culpeper Memorial Hospital Foundation501 Sunset Ln, Culpeper, VA 22701-3917VA1981-10$150,220
15Riverside Walter Reed Hospital Auxiliary IncPO BOX 1130, Gloucester, VA 23061-1130VA1995-07$104,840
16Sentara Hampton General Hospital Auxiliary3000 Coliseum Drive, Hampton, VA 23666-5963VA1964-12$48,358
17Norton Community Hospital Auxiliary Inc100 15th St Nw, Norton, VA 24273-1616VA1994-07$26,791
18Riverside Hospital Auxiliary500 J Clyde Morris Blvd, Newport News, VA 23601-1929VA1966-06$0
19Southampton Memorial Hospital Auxiliary100 Fairview Drive, Franklin, VA 23851-1238VA1973-02$0
20The National Hospital Health System Foundation219 Lloyds Ln, Alexandria, VA 22302-3708VA1988-11$0
Number of organizations performing similar types of work
District of Columbia4
North Carolina27
North Dakota7
New Hampshire7
New Jersey35
New Mexico11
New York61
Rhode Island11
South Carolina12
South Dakota1
West Virginia10
Total857 is not associated with, endorsed by, or sponsored by Franklin-Southampton Charities and has no official or unofficial affiliation with Franklin-Southampton Charities