| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Tax consulting & preparation fees | 9,250 | 4,625 | 4,625 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| Part VII-A, Line 12 | During the year ended July 31, 2015, the Foundation made distributions in the amount of approximately $864,000 to a donor advised fund over which the Foundation had advisory privileges and has treated this distribution as a qualifying distribution.The Foundation made this irrevocable distribution to a donor advised fund sponsored by the National Christian Charitable Foundation, Inc. ("the Sponsoring Organization") for the purpose of providing grants to organizations that have been recognized by the IRS as public charities under Section 501(c)(3) of the Internal Revenue Code and who are effectively proclaiming through thought, word, and deed the good news of the Kingdom of God in Jesus Christ. The Sponsoring Organization vets proposed grantees that meet these criteria, as well as other specific criteria of the Sponsoring Organization. The Foundation's Board of Directors serves as an Advisory Committee to advise the Sponsoring Organization of its wishes concerning distributions from the donor advised fund, but understands that the Sponsoring Organization will evaluate whether the advice is consistent with the specific needs of the proposed recipient and deserving of the support according to the criteria of the Sponsoring Organization.All funds held in the donor advised fund are normally distributed to selected grantees within six months of the Foundation's distribution to the donor advised fund. | |
| Part IX-B, Line 1 | During a prior tax year, the Foundation entered into a loan agreement with missionaries located in a foreign country. The missionaries are not disqualified persons with respect to the Foundation. The purpose of the loan was to allow these individuals to purchase a home in the foreign country to further their religious and charitable missionary work in that country. This purpose is in furtherance of the Foundation's exempt purpose to "glorify God and His Son, Jesus Christ, by contributing resources to such individuals and entities as are effectively proclaiming through thought, word, and deed the Good News of the Kingdom of God in Jesus Christ." Under Regulation Section 53.4945-4(a)(3)(i), a grant to individuals for purposes other than travel, study, or similar purposes is not a taxable expenditure within the meaning of Section 4945(d)(3). Therefore, the transaction is not subject to the requirements of Section 4945(g).However, to ensure that funds are used in furtherance of the Foundation's exempt purposes, the Foundation followed procedures similar to the expenditure responsibility requirements of Regulation Section 53.4945-5. The Foundation performed the following procedures with respect the loan:1. Pre-grant inquiry: The recipient missionaries are personally known by a Foundation Board member. The Board member is familiar with the religious missionary activities of the individuals and was aware of the missionaries' need to secure housing to further their missionary activities in the foreign country.2. Grant agreement: The loan agreement between the Foundation and the missionaries indicates that the funds are to be used only for the intended purposes and not for any prohibited purposes. The loan agreement additionally indicates that any portion of the funds not used for the intended purposes is required to be repaid.3. Periodic reporting: The Foundation receives regular repayments of the loan from the missionaries and the balance on the loan is current. The Foundation will also receive periodic updates from the missionaries regarding their missionary activities in the foreign country. | |
| Part IX-B, Line 2 | During the tax year, the Foundation entered into a loan agreement with a 501(c)(3) public charity. The recipient organization is not a related organization of the Foundation. The purpose of the loan was to provide additional funding to the recipient organization to allow it to continue its religious and charitable activities. This purpose is in furtherance of the Foundation's exempt purpose to "glorify God and His Son, Jesus Christ, by contributing resources to such individuals and entities as are effectively proclaiming through thought, word, and deed the Good News of the Kingdom of God in Jesus Christ." Under Section 4945(d)(4)(A), a grant to an organization described in Section 509(a)(1) is not a taxable expenditure within the meaning of Section 4945(d)(3). Therefore, the transaction is not subject to the requirements of Section 4945(g). The Foundation receives regular repayments of the loan from the recipient organization and the balance on the loan is current. The Foundation will also receive periodic updates from the recipient organization regarding its religious and charitable activities. |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| New Knoxville Telephone Co. stock | 24,000 | 24,000 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| Virtus Alpha Sector Rotation Fund | FMV | 321,477 | 321,477 |
| Double Line Total Return Fund | FMV | 238,121 | 238,121 |
| Goldman Sachs Strategic Fund | FMV | 393,604 | 393,604 |
| Loomis Sayles Strategic Income Fund | FMV | 319,323 | 319,323 |
| TCW Total Return Bond Fund | FMV | 240,470 | 240,470 |
| Neuberger Berman Absolute Return Multi-Mgr Fund | FMV | 92,544 | 92,544 |
| Wells Fargo Advantage Absolute Return Fund | FMV | 204,704 | 204,704 |
| Janus Balanced Class I Fund | FMV | 401,053 | 401,053 |
| PACE Alternative Strategies Investments | FMV | 204,048 | 204,048 |
| Lord Abbett Short Duration Income Fund | FMV | 393,557 | 393,557 |
| Pimco Low Duration Fund | FMV | 503,899 | 503,899 |
| RS Low Duration Bond Fund | FMV | 368,990 | 368,990 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Legal & advisory fees | 4,204 | 4,204 | 0 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| Note recvble rec'd pursuant to admin of revoc trust - Reg. 53.4941(d)-2(c) | 4,566,842 | 4,268,978 | 4,268,978 |
| Program-related investments | 127,000 | 187,720 | 187,720 |
| Description | Amount |
|---|---|
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Bank service charges | 140 | 140 | 0 | |
| Office supplies | 60 | 0 | 60 | |
| Business licenses and permits | 61 | 0 | 61 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Interest on note recvble rec'd pursuant to admin of revoc trust | 118,307 | 118,307 | 118,307 |
| Mortgage interest income | 212,721 | 212,721 | 212,721 |
| Interest on program related investments | 5,220 | 5,220 | 5,220 |
| Miscellaneous investment income | 153,642 | 153,642 | 153,642 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment management fees | 20,551 | 20,551 | 0 | |
| Vision & Values event speaker fees | 5,000 | 0 | 5,000 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Federal excise tax | 4,500 | 0 | 0 |
| Name | US / Foreign Address |
EIN | Description | Amount |
|---|---|---|---|---|
|
2300 Jetport Drive Orlando,FL32809 |
20-2620699 | None | 0 | |
| Total | 0 | |||