2025-05-13T20:08:04+00:00 2024-06-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-07-01 271777206 THE JIM AND MARGARET KRUM FOUNDATION INC JIMA 8436819100 4 NORTHRIDGE DRIVE HILTON HEAD ISLAND SC 29925 EMMY ROONEY SECRETARY/TREASURER 2025-05-14 true true Amy Bibby P00445891 8282542254 2025-05-08 2023 2025-03-06 01:10:19Z EMMY ROONEY 4 NORTHRIDGE DRIVE HILTON HEAD ISLAND SC 29925 129205 false 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 5751 0 0 0 78419 124747 25 356 84195 125103 358800 132400 0 0 0 0 0 0 0 140140 128163 498940 260563 -414745 -135460 11252230 11944370 401894 163545 10850336 11780825 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. false false 234022 132400 The Foundation's additional program expenses aid the Foundation in aligning their functions with the mission. 234022 true false false false false false false false false false false false false false true false true false false false false false false false false false false true false false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 5 4 false false false false false false false true true false false true true true true true true false false false SC X THE ORGANIZATION 8436819100 4 NORTHRIDGE DRIVE HILTON HEAD ISLAND SC 29925 EMMY ROONEY SECRETARY/TREASURER 1.0 40.0 X X 0 112650 5858 MARTIN COHN CHAIRMAN 1.0 X X 0 0 0 WADE WEBSTER VICE CHAIRMAN 1.0 X X 0 0 0 HANK NOBLE DIRECTOR 1.0 X 0 0 0 Trish heichel board member 1.0 X 0 0 0 0 112650 5858 0 false false false 0 0 0 0 0 0 0 128849 128849 0 0 4102 -4102 0 -4102 -4102 Miscellaneous 900099 356 356 0 0 0 0 356 125103 0 0 125103 132400 132400 2600 2600 23941 23941 0 0 0 0 Fund Administrative Fee 101592 101592 Program Expenses 30 30 0 0 0 0 260563 234022 26541 0 0 0 0 0 0 11252230 11944370 0 0 0 0 11252230 11944370 170494 2145 231400 161400 0 0 0 401894 163545 X 10850336 11780825 10850336 11780825 11252230 11944370 -135460 1065949 0 X X false true X true false X X X 1 Community Foundation of the LowCountry 570756987 7 false 0 0 1 0 0 true false false false false false false false false false false false false false false true false 0 X Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote 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, 2024. false SCHOLARSHIPS 57 132400 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. N/A Form 990, Part VI, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy 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, Line 19 Required documents available to the public The Board makes the audit, annual report and Form 990 available upon request. Form 990, Part XII, Line 2c Change of oversight process or selection process 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 GRANTMAKING SC 501(c)(3) 7 NA false false false false false false false false false false false false false false false false false false false false