| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Tax consulting & preparation fees | 13,824 | 6,912 | 6,912 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| Part II, Line 15: Program-related Investment #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 to 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 periodic updates from the missionaries regarding their missionary activities in the foreign country.During the 2018 tax year the remaining balance on the loan was repaid to the Foundation. | |
| Part VII-A, Line 11: | The Foundation does not directly or indirectly own a controlled entity within the meaning of Section 512(b)(13); therefore, Part VII-A, Line 11 has been answered "No." The Foundation does exercise control over a nonstock, tax-exempt organization, as outlined in Reg. 1.512(b)-1(l)(4). This organization does not constitute an excess business holding of the Foundation.Name of Controlled Nonstock, Tax-Exempt Entity:Regal Family Center, Inc.EIN: 20-26206992300 Jetport DriveOrlando, FL 32809There were no transfers between the Foundation and the Controlled Nonstock, Tax-Exempt Entity during the tax year. | |
| Part VII-B, Line 3a: | During the 7/31/19 year, the Foundation received by bequest certain shares of stock which represented more than a 2% interest in a business enterprise. Pursuant to IRC 4943(c)(6), the Foundation immediately disposed of the bequested shares via a grant to NCF Corporation, solely in its capacity as the sole trustee of NCF Charitable Trust, a wholly charitable trust and tax-exempt organization described in Section 501(c)(3) of the Code, which is classified as a Type I supporting organization under Section 509(a)(3) of the Code. Neither NCF Corporation, NCF Charitable Trust, nor its supported organization, National Christian Charitable Foundation, are controlled, directly or indirectly, by any disqualified person of the Foundation. The shares were subsequently liquidated by NCF Charitable Trust, with the proceeds from the liquidation deposited into a donor advised fund of NCF Charitable Trust over which the Foundation has advisory privileges. |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Huntington Bancshares Incorporated NTS | 101,057 | 101,057 |
| Autozone, Inc. NTS | 110,164 | 110,164 |
| Kellogg Company NTS | 101,509 | 101,509 |
| Dr. Pepper Snapple Group Inc. NTS | 99,546 | 99,546 |
| Citigroup Inc. NTS | 104,829 | 104,829 |
| American Express Company NTS | 100,314 | 100,314 |
| Ryder System, Inc. MTN | 99,869 | 99,869 |
| Invesco Finance PLC NTS | 101,549 | 101,549 |
| Suntrust Bank MTN | 101,682 | 101,682 |
| Avalonbay Communities, Inc. MTN | 101,484 | 101,484 |
| Dollar General Corporation NTS | 102,512 | 102,512 |
| Halliburton Company NTS | 103,454 | 103,454 |
| Simon Property Group, L.P. NTS | 105,416 | 105,416 |
| Quest Diagnostics Incorporated NTS | 106,136 | 106,136 |
| McCormick & Company, Incorporated NTS | 127,904 | 127,904 |
| Netapp Inc. NTS | 101,789 | 101,789 |
| Tiffany & Co. NTS | 103,433 | 103,433 |
| Laboratory Corp of America Holdings NTS | 61,992 | 61,992 |
| Marriott International, Inc. NTS OID | 104,600 | 104,600 |
| Morgan Stanley MTN | 110,510 | 110,510 |
| Hyatt Hotels Corporation NTS | 108,919 | 108,919 |
| Broadridge Financial Solutions Inc. NTS | 104,010 | 104,010 |
| 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 |
|---|---|---|---|
| Raymond James Cash & Cash Alternatives | FMV | 79,258 | 79,258 |
| Federated Government Obligation Fund Class I | FMV | 1,539,304 | 1,539,304 |
| Bank of Baroda New York, NY | FMV | 200,314 | 200,314 |
| UBS Bank USA Salt Lake City, UT | FMV | 253,213 | 253,213 |
| 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) | 3,326,210 | 3,056,006 | 3,056,006 |
| Program-related investment #1 | 73,571 | 0 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Bank service charges | 155 | 155 | 0 | |
| 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 | 69,121 | 69,121 | 69,121 |
| Mortgage investment income | 535,087 | 535,087 | 535,087 |
| Income tax refund | 1,403 | 0 | 0 |
| Description | Amount |
|---|---|
| Change in unrealized gain/loss | 25,035 |
| Name | Address |
|---|---|
| Nellie E Kandel Rev Trust |
570 Village Place Apt 116 Longwood,FL327796035 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Federal excise tax | 7,400 | 0 | 0 |