2024-11-14T08:04:30-06:00 2022-12-31 721396621 CARR RIGGS & INGRAM LLC 4004 SUMMIT BLVD NE SUITE 800 ATLANTA GA 30319 990 2022-01-01 582171570 NDSC FOUNDATION INC NDSC 7706049500 30 MANSELL COURT 108 ROSWELL GA 30076 BROOKS ROBINSON PRESIDENT 7706049500 2024-11-13 1 1 TIFFANY T ORR CPA P01559485 7703948000 2024-11-13 2022 2024-10-15 13:58:12Z X BROOKS ROBINSON 30 MANSELL COURT 108 ROSWELL GA 30076 119224 0 X WWW.NDSCCENTER.ORG X 1995 GA PROVIDE FINANCIAL ASSISTANCE TO THE NATIONAL DOWN SYNDROME CONGRESS, A 501(C)(3) ORGANIZATION, BY ACQUIRING, HOLDING, INVESTING, AND DISTRIBUTING FUNDS FOR NATIONAL DOWN SYNDROME CONGRESS. 6 6 0 0 0 0 30000 23650 0 0 300385 40240 0 0 330385 63890 0 0 0 0 0 0 0 0 0 212321 126835 212321 126835 118064 -62945 3434096 2744905 0 8250 3434096 2736655 PROVIDE FINANCIAL ASSISTANCE TO THE NATIONAL DOWN SYNDROME CONGRESS, A 501(C)(3) ORGANIZATION, BY ACQUIRING, HOLDING, INVESTING, AND DISTRIBUTING FUNDS FOR NATIONAL DOWN SYNDROME CONGRESS. 0 0 126835 PROVIDE SUPPORT TO THE NATIONAL DOWN SYNDROME CONGRESS, A 501(C)(3) ORGANIZATION. 126835 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 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 X 6 6 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X X JORDAN KOUGH 7706049500 30 MANSELL COURT SUITE 108 ROSWELL GA 30776 X BROOKS ROBINSON PRESIDENT 1.00 X X 0 0 0 JAY FREELAND SECRETARY 0.50 X X 0 0 0 BRET BOWERMAN TRUSTEE 0.30 X 0 0 0 STEWART L ASPLUNDH TRUSTEE 0.30 X 0 0 0 TANYA MARINO CASEY TRUSTEE 0.30 X 0 0 0 CARLENE MATTSON TRUSTEE 0.30 X 0 0 0 0 0 0 0 0 0 0 0 23500 150 23650 62924 62924 32650 55334 -22684 -22684 -22684 63890 0 0 40240 15043 15043 18192 18192 93600 93600 126835 126835 0 0 205989 30662 3226107 2714243 2000 0 3434096 2744905 0 8250 0 8250 X 1267321 1018754 2166775 1717901 3434096 2736655 3434096 2744905 -62945 -634496 0 X X 1 X 0 1 0 X X 1 NATIONAL DOWN SYNDROME CONGRESS INC 510163631 10 1 93600 0 1 93600 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 3420050 20150 -586539 97990 2755671 3138540 30000 383488 131978 3420050 2911428 25000 372401 170289 3138540 2500964 5000 515412 109948 2911428 2823559 20000 -192900 149695 2500964 0.36934 0.63066 0.00000 0 0 0 OTHER INVESTMENTS 2714243 F 2714243 DUE TO NDSC 8250 8250 X PART V, LINE 4: THE NDSC FOUNDATION (NDSCF) HAS ADOPTED INVESTMENT AND SPENDING POLICIES, APPROVED BY THE BOARD OF DIRECTORS, FOR ENDOWMENT ASSETS. THOSE POLICIES ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT FUNDS WHILE ALSO MAINTAINING THE PURCHASING POWER OF THOSE ENDOWMENT ASSETS OVER THE LONG-TERM. ACCORDINGLY, THE INVESTMENT PROCESS SEEKS TO ACHIEVE AN AFTER-COST TOTAL REAL RATE OF RETURN, INCLUDING INVESTMENT INCOME AS WELL AS CAPITAL APPRECIATION, WHICH EXCEEDS THE ANNUAL DISTRIBUTION WITH ACCEPTABLE LEVELS OF RISK. ENDOWMENT ASSETS ARE INVESTED IN A WELL-DIVERSIFIED ASSET MIX, WHICH INCLUDES EQUITY AND DEBT SECURITIES. THE ORGANIZATION EXPECTS ITS ENDOWMENT ASSETS, OVER TIME, TO PRODUCE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 5% ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. INVESTMENT RISK IS MEASURED IN TERMS OF THE TOTAL ENDOWMENT FUND; INVESTMENT ASSETS AND ALLOCATION BETWEEN ASSET CLASSES AND STRATEGIES ARE MANAGED TO PREVENT EXPOSING THE FUND TO UNACCEPTABLE LEVELS OF RISK. SPENDING POLICY. THE ORGANIZATION HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 5% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OF THE PRIOR 12 QUARTERS THROUGH THE CALENDAR YEAR-END PRECEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE ORGANIZATION CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS INVESTMENT ASSETS, THE NATURE AND DURATION OF THE INDIVIDUAL ENDOWMENT FUNDS, MANY OF WHICH MUST BE MAINTAINED IN PERPETUITY BECAUSE OF DONOR-RESTRICTIONS, AND THE POSSIBLE EFFECTS OF INFLATION. THE ORGANIZATION EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT FUNDS TO GROW AT AN AVERAGE RATE OF 3% ANNUALLY. THIS IS CONSISTENT WITH THE ORGANIZATION'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: THE CONGRESS HAS RECEIVED A DETERMINATION BY THE UNITED STATES INTERNAL REVENUE SERVICE (IRS) THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRS CODE SECTION 501(C)(3). THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRS CODE SECTION 509(A)(3) BECAUSE IT SUPPORTS THE CONGRESS, AN EXEMPT ORGANIZATION. THEREFORE, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2022 AND 2021, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS OF NDSC APPOINTS INDIVIDUALS TO THE BOARD OF TRUSTEES OF NDSC FOUNDATION. THE BOARD OF NDSC FOUNDATION THEN ELECTS THE OFFICERS. FORM 990, PART VI, SECTION B, LINE 11B BEFORE THE AMENDED FORM 990 IS FILED, A PRELIMINARY COPY IS PROVIDED TO THE BOARD OF TRUSTEES FOR REVIEW. ALL ISSUES THAT ARISE FROM THIS REVIEW ARE ADDRESSED AND ANY NECESSARY CHANGES ARE MADE. A FINAL COPY OF THE AMENDED FORM 990 IS THEN RE-CIRCULATED TO THE BOARD OF TRUSTEES WITH ANY ADDITIONAL INFORMATION DEEMED NECESSARY DUE TO THE CHANGES. UPON APPROVAL OF THE BOARD OF TRUSTEES, THE AMENDED FORM 990 IS FINALIZED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, MANAGEMENT REVIEWS THE CONFLICT OF INTEREST POLICY WITH ALL BOARD MEMBERS. ALL BOARD MEMBERS MUST SUBMIT WRITTEN DISCLOSURE FORMS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE GENERALLY MADE AVAILABLE TO PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS HAS NOT CHANGED IN PROCESS FROM THE PRIOR YEAR. FORM 990, ITEM B, AMENDED RETURN EXPLANATION: THE ORGANIZATION'S FORM 990 IS BEING AMENDED TO REPORT THE UPDATED REVIEWED FINANCIAL STATEMENTS ISSUED SUBSEQUENT TO THE ORGANIZATION'S ORIGINAL FILING. THE FOLLOWING ITEMS HAVE BEEN UPDATED RESPECTIVE OF THE ORIGINALLY FILED RETURN. FORM 990, ITEM G, GROSS RECEIPTS, AMENDED RETURN EXPLANATION: THE GROSS RECEIPTS ($119,224) HAVE BEEN UPDATED TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS AND QUALIFIED ON FORM 990, PAGE 9, PART VIII, STATEMENT OF REVENUE. THE ORIGINALLY FILED ITEM G, GROSS RECEIPTS, WERE $96,622. FORM 990, PART I, SUMMARY, LINES 8-22; AMENDED RETURN EXPLANATION: THE REVENUE, EXPENSES, AND NET ASSETS REFLECTED IN THIS SECTION HAVE BEEN UPDATED TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS AND QUALIFIED ON FORM 990, PAGE 9, PART VIII, STATEMENT OF REVENUE; FORM 990, PAGE 10, PART IX, STATEMENT OF FUNCTIONAL EXPENSES; FORM 990, PAGE 11, PART X, BALANCE SHEET; FORM 990, PAGE 12, PART XI, RECONCILIATION OF NET ASSETS. THESE AREAS WILL EXPLAINED PER THEIR RESPECTIVE PAGE/PARTS BELOW. FORM 990, PART III, STATEMENT OF PSA; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINE 4A EXPENSES TO $126,835 (FROM ORIGINALLY FILED $150,224). THE ORGANIZATION UPDATED LINE 4E TOTAL PROGRAM SERVICE EXPENSES TO $126,835 (FROM ORIGINALLY FILED $150,224). FORM 990, PART IV, CHECKLIST OF REQUIRED SCH.; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINE 11B TO REPORT AN AMOUNT FOR INVESTMENTS - OTHER SECURITIES IN PART X, LINE 12, THAT IS 5% OR MORE OF ITS TOTAL ASSETS REPORTED IN PART X, LINE 16. FORM 990, PART IV, CHECKLIST OF REQUIRED SCH.; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINE 11E TO REPORT AN AMOUNT FOR OTHER LIABILITIES IN PART X, LINE 25. FORM 990, PART IV, CHECKLIST OF REQUIRED SCH.; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINE 11F TO REPORT THAT THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE TAX YEAR INCLUDED A FOOTNOTE THAT ADDRESSES THE ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740). FORM 990, PART IV, CHECKLIST OF REQUIRED SCH.; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINE 12B TO NOTE THEY WERE INCLUDED IN CONSOLIDATED, INDEPENDENT REVIEWED FINANCIAL STATEMENTS FOR THE TAX YEAR. FORM 990, PART VIII, STATEMENT OF REVENUE; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINES 1D THROUGH F , LINE 3 AND LINE 7 A THROUGH D, TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION UPDATED LINE 1D TO $23,500 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 1F TO $150 (FROM ORIGINALLY FILED $32,650). THE ORGANIZATION UPDATED LINE 1H TO $23,650 (FROM ORIGINALLY FILED $32,650). THE ORGANIZATION UPDATED LINE 3 TO $62,924 (FROM ORIGINALLY FILED $63,972). THE ORGANIZATION UPDATED LINE 7A TO $32,650 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 7B TO $55,334 (FROM ORIGINALLY FILED $633,680). THE ORGANIZATION UPDATED LINE 7C AND 7D TO -$22,684 (FROM ORIGINALLY FILED -$633,680). THE ORGANIZATION UPDATED LINE 12 TO $63,890 (FROM ORIGINALLY FILED -$537,058). FORM 990, PART IX, STATEMENT OF FUNCTIONAL EXP.; AMENDED RETURN EXPLANATION THE ORGANIZATION UPDATED LINES 11 THROUGH 25 TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION UPDATED LINE 11C TO $15,043 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 11F TO $18,192 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 11G TO $0 (FROM ORIGINALLY FILED $150,224). THE ORGANIZATION UPDATED LINE 21 TO $93,600 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 25 TO $126,835 (FROM ORIGINALLY FILED $150,224). FORM 990, PART X, BALANCE SHEET; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINES 1 THROUGH 33, COLUMN B, END OF YEAR, TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION UPDATED LINE 1B TO $30,662 (FROM ORIGINALLY FILED $30,831). THE ORGANIZATION UPDATED LINE 11B TO $0 (FROM ORIGINALLY FILED $2,715,983). THE ORGANIZATION UPDATED LINE 12B TO $2,714,243 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 16 TO $2,744,905 (FROM ORIGINALLY FILED $2,746,814). THE ORGANIZATION UPDATED LINE 25 TO $8,250 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 26 TO $8,250 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 27 TO $1,018,754 (FROM ORIGINALLY FILED $580,039). THE ORGANIZATION UPDATED LINE 28 TO $1,717,901 (FROM ORIGINALLY FILED $2,166,775). THE ORGANIZATION UPDATED LINE 32 TO $2,736,655 (FROM ORIGINALLY FILED $2,746,814). THE ORGANIZATION UPDATED LINE 33 TO $2,744,905 (FROM ORIGINALLY FILED $2,746,814). FORM 990, PART XI, RECONCILIATION OF NET ASSETS; AMENDED RETURN EXPLANATION THE ORGANIZATION UPDATED LINES 1 THROUGH 10, TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION UPDATED LINE 1 TO $63,890 (FROM ORIGINALLY FILED -$537,058). THE ORGANIZATION UPDATED LINE 2 TO $126,835 (FROM ORIGINALLY FILED $150,224). THE ORGANIZATION UPDATED LINE 3 TO -$62,945 (FROM ORIGINALLY FILED -$687,282). THE ORGANIZATION UPDATED LINE 5 TO -$634,496 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED LINE 10 TO $2,736,655 (FROM ORIGINALLY FILED $2,746,814). FORM 990, PART XI, FINANCIAL STATEMENT REPORT.; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED LINE 2A TO "YES AND CHECKED THE "CONSOLIDATED BASIS" BOX. THE ORGANIZATION UPDATED LINE 2C TO "YES". FORM 990, SCHEDULE A, PUBLIC CHARITY STATUS; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED PART I, LINE 12G, COLUMN V, TO REFLECT THE AMOUNTS QUANTIFIED ON THE ORGANIZATION'S FORM 990, PART VIII, STATEMENT OF REVENUE. THE ORGANIZATION UPDATED LINE 12G, COLUMN V TO $93,600 (FROM ORIGINALLY FILED $0). FORM 990, SCHEDULE D, SUPPLEMENTAL FINANCIAL ST; AMENDED RETURN EXPLANATION THE ORGANIZATION UPDATED PART V, LINES 1B THROUGH G, COLUMN A, ALONG WITH LINES 2A THROUGH B. THE ORGANIZATION UPDATED LINE 1B TO $20,150 (FROM ORIGINALLY FILED $32,650). THE ORGANIZATION UPDATED LINE 1C TO -$586,539 (FROM ORIGINALLY FILED -$569,708). THE ORGANIZATION UPDATED LINE 1E TO $97,990 (FROM ORIGINALLY FILED $136,178). THE ORGANIZATION UPDATED LINE 1G TO $2,755,671 (FROM ORIGINALLY FILED $2,746,814). THE ORGANIZATION UPDATED LINE 2A TO 36.9340% (FROM ORIGINALLY FILED 21.1170%). THE ORGANIZATION UPDATED LINE 2B TO 63.0660% (FROM ORIGINALLY FILED 78.8830%). FORM 990, SCHEDULE D, SUPPLEMENTAL FINANCIAL ST; AMENDED RETURN EXPLANATION THE ORGANIZATION UPDATED PART VII, LINE 3A, COLUMNS A THROUGH C. THE ORGANIZATION UPDATED LINE 3A, OTHER INVESTMENTS, TO $2,714,243 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED PART X, LINE 2, COLUMN B. THE ORGANIZATION UPDATED LINE 2 TO $8,250 (FROM ORIGINALLY FILED $0). THE ORGANIZATION UPDATED PART XIII, SUPPLEMENTAL INFORMATION, PART X, LINE 2 EXPLANATION. FORM 990, SCHEDULE R, RELATED ORGANIZATIONS; AMENDED RETURN EXPLANATION: THE ORGANIZATION UPDATED PART V, LINE 1S TO "YES". THE ORGANIZATION UPDATED PART V, LINE 2, COLUMNS A THROUGH D, SUB-LINES 2 THROUGH 3, TO REFLECT RELATED PARTY TRANSACTIONS. THE ORGANIZATION UPDATED SUB-LINE 2, COLUMN A (NAME THE SAME AS SUB-LINES 1 AND 3, COLUMN A), COLUMN B (CODE S), COLUMN C ($8,250), COLUMN D (FMV). THE ORGANIZATION UPDATED SUB-LINE 3, COULMN A (NAME), COLUMN B (CODE S), COLUMN C ($93,600), COLUMN D (FMV). NATIONAL DOWN SYNDROME CONGRESS INC 30 MANSELL COURT SUITE 108 ROSWELL GA 30076 510163631 WELFARE GA 501(C)(3) LINE 11 N/A 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 NATIONAL DOWN SYNDROME CONGRESS C 23500 FMV NATIONAL DOWN SYNDROME CONGRESS S 8250 FMV NATIONAL DOWN SYNDROME CONGRESS S 93600 FMV SCHEDULE R - ADDITIONAL INFORMATION NDSC FOUNDATION (NDSCF) PERFORMS INVESTMENT MANAGEMENT AND FUNDRAISING FOR NATIONAL DOWN SYNDROME CONGRESS (NDSC). BOTH OF THESE 501(C)(3) ORGANIZATIONS SHARE FACILITIES, EQUIPMENT, AND OTHER ASSETS. ALSO, NDSC PERFORMS SERVICES FOR NDSCF, SUCH AS, ACCOUNTING AND OTHER ADMINISTRATIVE SERVICES.