Civic Intelligence

Springmoor Endowment Fund Inc.

990 • Fiscal year 2022 • EIN 56-1853969

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 02, 2023

Organization ProfileN/A
1500 Sawmill RoadRaleigh, NC 27615

(919) 848-7000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

38th percentile

0.09x

Higher debt load relative to revenue than 38% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

89th percentile

50%

Higher net margin than 89% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

57th percentile

3.5%

Faster asset growth than 57% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

7th percentile

-51%

Faster revenue growth than 7% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$8,903,326

Up $303,868 (+3.5%) from 2021

Net Assets

Up

$8,842,922

Up $322,837 (+3.8%) from 2021

Liabilities

Down

$60,404

Down $18,969 (-24%) from 2021

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin89th percentile

Revenue

Down

$647,906

Down $676,203 (-51%) from 2021

Expenses

Up

$325,069

Up $31,066 (+11%) from 2021

Net Income

Down

$322,837

Down $707,269 (-69%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2013: $4,194,286Liabilities 2013: $231,123Net Assets 2013: $3,963,1632013Assets 2014: $4,495,394Liabilities 2014: $212,155Net Assets 2014: $4,283,2392014Assets 2015: $4,770,222Liabilities 2015: $193,186Net Assets 2015: $4,577,0362015Assets 2016: $5,828,624Liabilities 2016: $174,217Net Assets 2016: $5,654,4072016Assets 2017: $6,311,848Liabilities 2017: $155,248Net Assets 2017: $6,156,6002017Assets 2018: $7,040,800Liabilities 2018: $136,279Net Assets 2018: $6,904,5212018Assets 2019: $7,295,594Liabilities 2019: $117,311Net Assets 2019: $7,178,2832019Assets 2020: $7,588,321Liabilities 2020: $98,342Net Assets 2020: $7,489,9792020Assets 2021: $8,599,458Liabilities 2021: $79,373Net Assets 2021: $8,520,0852021Assets 2022: $8,903,326Liabilities 2022: $60,404Net Assets 2022: $8,842,9222022Assets 2023: $9,162,598Liabilities 2023: $41,435Net Assets 2023: $9,121,1632023Assets 2024: $9,769,849Liabilities 2024: $22,466Net Assets 2024: $9,747,3832024

Highlighted filing

2022

Assets$8,903,326
Liabilities$60,404
Net Assets$8,842,922
Open 2022 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0Revenue 2013: $402,335Expenses 2013: $78,209Net Income 2013: $324,1262013Revenue 2014: $385,484Expenses 2014: $65,408Net Income 2014: $320,0762014Revenue 2015: $359,017Expenses 2015: $65,220Net Income 2015: $293,7972015Revenue 2016: $1,155,354Expenses 2016: $77,983Net Income 2016: $1,077,3712016Revenue 2017: $697,170Expenses 2017: $194,977Net Income 2017: $502,1932017Revenue 2018: $898,233Expenses 2018: $150,312Net Income 2018: $747,9212018Revenue 2019: $519,189Expenses 2019: $245,427Net Income 2019: $273,7622019Revenue 2020: $598,713Expenses 2020: $287,017Net Income 2020: $311,6962020Revenue 2021: $1,324,109Expenses 2021: $294,003Net Income 2021: $1,030,1062021Revenue 2022: $647,906Expenses 2022: $325,069Net Income 2022: $322,8372022Revenue 2023: $472,437Expenses 2023: $194,196Net Income 2023: $278,2412023Revenue 2024: $953,534Expenses 2024: $327,314Net Income 2024: $626,2202024

Highlighted filing

2022

Revenue$647,906
Expenses$325,069
Net Income$322,837
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 2, 2023
Return Version
2022v5.0
Gross Receipts
$3,578,487
Mission and Program Overview

Mission

To maintain in residence any resident who because of a financial reversal are otherwise unable to pay their regular charges and otherwise meeting these residents needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,529,875$8,841,334▲ $311,459
Savings and Temporary Cash Investments$63,883$56,292▼ $7,591
Land, Buildings, and Equipment, Net$5,700$5,700→ $0
Total Assets$8,599,458$8,903,326▲ $303,868
Liabilities
Accounts Payable and Accrued Expenses$79,373$60,404▼ $18,969
Total Liabilities$79,373$60,404▼ $18,969
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,520,085$8,842,922▲ $322,837
Total Net Assets Fund Balance$8,520,085$8,842,922▲ $322,837
Total Liabilities and Net Assets / Fund Balance$8,599,458$8,903,326▲ $303,868

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,000-$3,000
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
William BaxleyPresident
Charles B BallardMember
Chuck MillsapsMember
Mary Ann FreemanMember
Nina ColeMember
Susan WaltonMember
William MarleyMember
Judy HillSecretary
Ernest Carraway JrVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$229,196
Program Service Revenue
$0
Investment Income
$418,710
Other Revenue
$0
All Other Contributions
$229,196
Change in Net Assets
$322,837
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$187,830
Other Expenses$137,239
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$187,830--$187,830
Other Expenses$17,609$851-$851
All Other Expenses-$60-$60
Total Functional Expenses$205,439$119,630$0$325,069
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is provided to the board prior to filing with a request for questions or comments.”

Form 990, Page 6, Part VI, Line 12C

“Each board member signs a conflict of interest statement annually. Management relies on the individual board member to remedy any conflict of interest.”

Form 990, Page 6, Part VI, Line 19

“Documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Springmoor Endowment Fund Inc
EIN
56-1853969
Phone
9198487000
Address
1500 SAWMILL ROAD, RALEIGH, NC 27615

Signing Officer

Name
William Baxley
Title
President
Phone
9198487000
Signed
2023-11-02

Organization Details

Principal Officer
William Baxley
Formed
1993
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
James a Lucas and Company Llp
Address
4909 WESTERN BLVD STE 200, RALEIGH, NC 27606
Preparer
Joellen H Wilkes
Phone
9198514696
Supplemental Narrative

Additional Explanations

Form 990

“The springmoor endowment fund, inc. (tin 56-1853969) was organized on december 28, 1993 as a section 509(a) (3) supporting organization, with the supported organization being springmoor, inc. Seven of the springmoor endowment fund, inc.'s eight directors are directors of springmoor, inc. The springmoor endowment fund, inc. Solicits contributions from the general public, including residents of springmoor, inc. And their families. The purpose of these solicitations is to develop a fund to help carry out the exempt purpose of springmoor, inc., including, but not limited to, the purposes of maintaining in residence any residents who, because of financial reversal, are unable to pay their regular charges to springmoor, inc. And otherwise meeting these residents' needs. The springmoor endowment fund, inc. Filed a form 1023, application for recognition of exemption under sections 501(c)(3) of the internal revenue code and received a favorable determination letter dated august 10, 1994.”

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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt03000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03000
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0187830
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0RESIDENT SUBSIDY
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0APPLICATIONS FOR RESIDENT SUBSIDIES ARE MADE TO THE BOARD OF DIRECTORS, REVIEWED BY THE BOARD AND VOTED ON BY THE BOARD FOR MERIT AND APPROVAL. ONLY CURRENT RESIDENTS EXPERIENCING SEVERE FINANCIAL HARDSHIP ARE ELIGIBLE AND MUST MEET A DEFINED SET OF CRITERIA.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SPRINGMOOR ENDOWMENT FUND, INC. (TIN 56-1853969) WAS ORGANIZED ON DECEMBER 28, 1993 AS A SECTION 509(A) (3) SUPPORTING ORGANIZATION, WITH THE SUPPORTED ORGANIZATION BEING SPRINGMOOR, INC. SEVEN OF THE SPRINGMOOR ENDOWMENT FUND, INC.'S EIGHT DIRECTORS ARE DIRECTORS OF SPRINGMOOR, INC. THE SPRINGMOOR ENDOWMENT FUND, INC. SOLICITS CONTRIBUTIONS FROM THE GENERAL PUBLIC, INCLUDING RESIDENTS OF SPRINGMOOR, INC. AND THEIR FAMILIES. THE PURPOSE OF THESE SOLICITATIONS IS TO DEVELOP A FUND TO HELP CARRY OUT THE EXEMPT PURPOSE OF SPRINGMOOR, INC., INCLUDING, BUT NOT LIMITED TO, THE PURPOSES OF MAINTAINING IN RESIDENCE ANY RESIDENTS WHO, BECAUSE OF FINANCIAL REVERSAL, ARE UNABLE TO PAY THEIR REGULAR CHARGES TO SPRINGMOOR, INC. AND OTHERWISE MEETING THESE RESIDENTS' NEEDS. THE SPRINGMOOR ENDOWMENT FUND, INC. FILED A FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION UNDER SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE AND RECEIVED A FAVORABLE DETERMINATION LETTER DATED AUGUST 10, 1994.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING WITH A REQUEST FOR QUESTIONS OR COMMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER SIGNS A CONFLICT OF INTEREST STATEMENT ANNUALLY. MANAGEMENT RELIES ON THE INDIVIDUAL BOARD MEMBER TO REMEDY ANY CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SPRINGMOOR INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0561368256
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LIFE CARE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01500 SAWMILL ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0RALEIGH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027615
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0187830
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL PAYMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SPRINGMOOR INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08599458
IRS990/TotalAssetsEOYAmt08903326
IRS990/TotalAssetsGrp/BOYAmt08599458
IRS990/TotalAssetsGrp/EOYAmt08903326
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0229196
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0119630
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0205439
IRS990/TotalFunctionalExpensesGrp/TotalAmt0325069
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt079373
IRS990/TotalLiabilitiesEOYAmt060404
IRS990/TotalLiabilitiesGrp/BOYAmt079373
IRS990/TotalLiabilitiesGrp/EOYAmt060404
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08520085
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08842922
IRS990/TotalProgramServiceExpensesAmt0205439
IRS990/TotalRevenueGrp/ExclusionAmt0215772
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0202938
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0647906
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08599458
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08903326
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010509 CHARMFORD WAY
IRS990/USAddress/CityNm0RALEIGH
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027615
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM BAXLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09198487000
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPRINGMOOR ENDOWMENT FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0SPRI
ReturnHeader/Filer/EIN0561853969
ReturnHeader/Filer/PhoneNum09198487000
ReturnHeader/Filer/USAddress/AddressLine1Txt01500 SAWMILL ROAD
ReturnHeader/Filer/USAddress/CityNm0RALEIGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027615
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561137607
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JAMES A LUCAS AND COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04909 WESTERN BLVD STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RALEIGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027606
ReturnHeader/PreparerPersonGrp/PhoneNum09198514696
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOELLEN H WILKES
ReturnHeader/ReturnTs02023-11-15T15:40:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BAXLEY
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,903,326
Liabilities
$60,404
Net assets
$8,842,922
Revenue
$647,906
Expenses
$325,069
Net income
$322,837
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.77$0.02$9.75$0.95$0.33$0.63
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.16$0.04$9.12$0.47$0.19$0.28
2022Detailed filing. Detailed filing data is available for this year.$8.90$0.06$8.84$0.65$0.33$0.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.60$0.08$8.52$1.32$0.29$1.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.59$0.10$7.49$0.60$0.29$0.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.30$0.12$7.18$0.52$0.25$0.27
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.04$0.14$6.90$0.90$0.15$0.75
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.31$0.16$6.16$0.70$0.19$0.50
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.83$0.17$5.65$1.16$0.08$1.08
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.77$0.19$4.58$0.36$0.07$0.29
2014Detailed filing. Detailed filing data is available for this year.$4.50$0.21$4.28$0.39$0.07$0.32
2013Detailed filing. Detailed filing data is available for this year.$4.19$0.23$3.96$0.40$0.08$0.32