2024-05-14T17:32:50-05:00 2023-06-30 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2022-07-01 271777206 THE JIM AND MARGARET KRUM FOUNDATION INC JIMA 8436819100 4 NORTHRIDGE DRIVE STE A HILTON HEAD ISLAND SC 29925 EMMY ROONEY SECRETARY/TREASURER 8436819100 2024-05-14 1 EMMY ROONEY 999009999 1 AMY BIBBY P00445891 8282542254 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z EMMY ROONEY 4 NORTHRIDGE DRIVE STE A HILTON HEAD ISLAND SC 29925 84195 0 X WWW.CF-LOWCOUNTRY.ORG X 2009 SC THE KRUM FOUNDATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. ("FOUNDATION"), A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE CODE. A TRADITIONAL COMMUNITY FOUNDATION FOUNDED IN 1994, COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. SERVES THE RESIDENTS OF SOUTH CAROLINA COUNTIES: BEAUFORT, COLLETON, HAMPTON, AND JASPER. THE KRUM FOUNDATION WILL FURTHER ITS EXEMPT PURPOSES BY MAKING GRANTS DIRECTLY TO THE COMMUNITY FOUNDATION AND TO ORGANIZATIONS WHICH ARE, OR COULD BE SUPPORTED BY THE COMMUNITY FOUNDATION CONSISTENT WITH ITS OWN CHARITABLE PURPOSES. COMMUNITY FOUNDATION GRANTS ARE AWARDED TO ORGANIZATIONS THAT WORK IN A VARIETY OF CHARITABLE AREAS, INCLUDING ARTS & CULTURE, EDUCATION AND YOUTH DEVELOPMENT, AND HEALTH AND HUMAN SERVICES. BOTH THE KRUM FOUNDATION AND THE COMMUNITY FOUNDATION EXPECT TO MAKE SCHOLARSHIP GRANTS TO INDIVIDUALS. 5 4 0 0 0 0 0 5751 0 0 417496 78419 347 25 417843 84195 374000 358800 0 0 6000 0 0 0 0 130948 140140 510948 498940 -93105 -414745 10817776 11252230 399467 401894 10418309 10850336 X THE KRUM FOUNDATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. ("FOUNDATION"), A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE CODE. A TRADITIONAL COMMUNITY FOUNDATION FOUNDED IN 1994, COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. SERVES THE RESIDENTS OF SOUTH CAROLINA COUNTIES: BEAUFORT, COLLETON, HAMPTON, AND JASPER. THE KRUM FOUNDATION WILL FURTHER ITS EXEMPT PURPOSES BY MAKING GRANTS DIRECTLY TO THE COMMUNITY FOUNDATION AND TO ORGANIZATIONS WHICH ARE, OR COULD BE SUPPORTED BY THE COMMUNITY FOUNDATION CONSISTENT WITH ITS OWN CHARITABLE PURPOSES. COMMUNITY FOUNDATION GRANTS ARE AWARDED TO ORGANIZATIONS THAT WORK IN A VARIETY OF CHARITABLE AREAS, INCLUDING ARTS & CULTURE, EDUCATION AND YOUTH DEVELOPMENT, AND HEALTH AND HUMAN SERVICES. BOTH THE KRUM FOUNDATION AND THE COMMUNITY FOUNDATION EXPECT TO MAKE SCHOLARSHIP GRANTS TO INDIVIDUALS. 0 0 467562 358800 THE FOUNDATION'S ADDITIONAL PROGRAM EXPENSES AID THE FOUNDATION IN ALIGNING THEIR FUNCTIONS WITH THE MISSION. 467562 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 SC X THE ORGANIZATION 8436819100 4 NORTHRIDGE DRIVE STE A HILTON HEAD ISLAND SC 29925 MARTIN COHN CHAIRMAN 1.00 X X 0 0 0 HANK NOBLE DIRECTOR 1.00 X 0 0 0 WADE WEBSTER VICE CHAIRMAN 1.00 X X 0 0 0 EMMY ROONEY SECRETARY/TREASURER 1.00 40.00 X X 0 104732 0 BERYL LAMOTTE BOARD MEMBER 1.00 X 0 0 0 0 104732 0 0 0 0 0 0 5051 700 5751 41880 41880 36539 0 36539 36539 36539 MISCELLANEOUS 900099 25 25 25 84195 0 0 78444 6000 6000 352800 352800 2500 2500 28716 28716 162 162 FUND ADMINISTRATIVE FEE 96635 96635 PROGRAM EXPENSES 12127 12127 498940 467562 31378 0 10817776 11252230 10817776 11252230 1967 170494 397500 231400 399467 401894 X 10418309 10850336 10418309 10850336 10817776 11252230 -414745 846772 0 X X 0 1 X 1 0 X X X 1 COMMUNITY FOUNDATION OF THE LOWCOUNTRY 570756987 7 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: THE FOUNDATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A CHARITABLE ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING COMBINED FINANCIAL STATEMENTS. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2023. 0 COMMUNITY FOUNDATION OF THE LOWCOUNTRY INC 4 NORTHRIDGE DRIVE STE A HILTON HEAD ISLAND SC 29925 570756987 501(C)(3) 6000 0 PROGRAM SUPPORT 1 SCHOLARSHIPS 61 352800 FORM 990, PART VI, SECTION B, LINE 11B THE ANNUAL FORM 990 IS PREPARED BY THE FOUNDATION'S INDEPENDENT AUDITORS. AFTER THE COMPLETED FORM 990 IS REVIEWED BY THE FOUNDATION'S VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND THE KRUM FOUNDATION CHAIRMAN, AN ELECTRONIC COPY OF THE FORM IS THEN PROVIDED TO ALL FOUNDATION DIRECTORS WITH A 5 DAY COMMENT PERIOD BEFORE THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO REVIEW CONFLICTS ANNUALLY AND SIGN AN AFFIDAVIT DISCLOSING POTENTIAL CONFLICTS. IF POTENTIAL CONFLICTS ARISE, THE FOUNDATION UTILIZES ITS POLICY SO THAT THE CONFLICTED MEMBER IS NOT INVOLVED IN THE DETERMINATION PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE BOARD MAKES THE AUDIT, ANNUAL REPORT AND FORM 990 AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. COMMUNITY FOUNDATION OF THE LOWCOUNTRY 4 NORTHRIDGE DRIVE SUITE A HILTON HEAD ISLAND SC 29925 570756987 SC 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0