STRATEGY STUDIO / PUBLIC DATA EXPLORER

OTHA E HERRING SCHOLARSHIP FUND I: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
OTHA E HERRING SCHOLARSHIP FUND I (EIN 75-6690165)
Tax period
2014-07-01 to 2015-06-30
Filed
2015-09-02
IRS object ID
201512459349300241
Schema version
2014v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2015-09-02T09:01:09-05:00ReturnTs
Tax Period End2015-06-30TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2014-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN756690165EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1OTHA E HERRING SCHOLARSHIP FUND IBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlHERRBusinessNameControlTxt
Phone2522464027PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 2907 - TRUST TAX DEPTAddressLine1Txt
CityWILSONCityNm
State AbbreviationNCStateAbbreviationCd
ZIP278942907ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonBRANCH BANKING TRUST CO TRUSTEEPersonNm
Person TitleVice PresidentPersonTitleTxt
Phone2522464027PhoneNum
Signature2015-08-27SignatureDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Gross Receipts$1,246,674GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization TrustYes (X)TypeOfOrganizationTrustInd
Formation2003FormationYr
Legal Domicile StateNCLegalDomicileStateCd
Activity Or MissionPROVIDE SCHOLARSHIPS FOR RESIDENTS OF DUPLIN COUNTY AND THE TOWN OF MOUNT OLIVE, NC WHO ARE FULL OR PART-TIME STUDENTS OF MOUNT OLIVE COLLEGEActivityOrMissionDesc
Voting Members Governing Body0VotingMembersGoverningBodyCnt
Voting Members Independent0VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$0CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$588,434PYInvestmentIncomeAmt
CY Investment Income$217,133CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$588,434PYTotalRevenueAmt
CY Total Revenue$217,133CYTotalRevenueAmt
PY Grants And Similar Paid$200,000PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$200,000CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$47,902PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$48,034CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$11,406PYOtherExpensesAmt
CY Other Expenses$95,856CYOtherExpensesAmt
PY Total Expenses$259,308PYTotalExpensesAmt
CY Total Expenses$343,890CYTotalExpensesAmt
PY Revenues Less Expenses$329,126PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$126,757CYRevenuesLessExpensesAmt
Total Assets BOY$3,613,535TotalAssetsBOYAmt
Total Assets EOY$3,482,776TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$3,613,535NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$3,482,776NetAssetsOrFundBalancesEOYAmt
MissionPROVIDE SCHOLARSHIPS FOR RESIDENTS OF DUPLIN COUNTY AND THE TOWN OF MOUNT OLIVE, NC WHO ARE FULL OR PART-TIME STUDENTS OF MOUNT OLIVE COLLEGEMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$200,000ExpenseAmt
Grant$200,000GrantAmt
DescPROVIDE SCHOLARSHIPS TO STUDENTS WHO ATTEND MT. OLIVE COLLEGEDesc
Total Program Service Expenses$200,000TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsYes (true)ReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members0GoverningBodyVotingMembersCnt
Independent Voting Member0IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyfalseMinutesOfGoverningBodyInd
Minutes Of CommitteesfalseMinutesOfCommitteesInd
Officer Mailing AddressYes (true)OfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BRANCH BANKING & TRUST COMPANYBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2522464027PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 2907 MC100-01-02-10AddressLine1Txt
CityWILSONCityNm
State AbbreviationNCStateAbbreviationCd
ZIP278942907ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BRANCH BANKING AND TRUST COMPANYBusinessNameLine1Txt
FieldValueIRS element (for citing)
TitleTRUSTEETitleTxt
Institutional TrusteeYes (X)InstitutionalTrusteeInd
Reportable Comp From Org$48,034ReportableCompFromOrgAmt
Reportable Comp From Rltd Org$0ReportableCompFromRltdOrgAmt
Other Compensation$0OtherCompensationAmt
FieldValueIRS element (for citing)
Total Reportable Comp From Org$48,034TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$94,615TotalRevenueColumnAmt
Exclusion$94,615ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$1,152,059SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$1,029,541SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$122,518SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$122,518TotalRevenueColumnAmt
Exclusion$122,518ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$217,133TotalRevenueColumnAmt
Exclusion$217,133ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$200,000TotalAmt
Program Services$200,000ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$48,034TotalAmt
Management And General$48,034ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$567TotalAmt
Management And General$567ManagementAndGeneralAmt

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$95,289TotalAmt
Management And General$95,289ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$343,890TotalAmt
Program Services$200,000ProgramServicesAmt
Management And General$143,890ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$264EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$220,434BOYAmt
EOY$185,112EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$11,445LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$11,445BOYAmt
EOY$11,445EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$3,381,656BOYAmt
EOY$3,285,955EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$3,613,535BOYAmt
EOY$3,482,776EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$3,613,535BOYAmt
EOY$3,482,776EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$3,613,535BOYAmt
EOY$3,482,776EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$3,613,535BOYAmt
EOY$3,482,776EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$126,757ReconcilationRevenueExpnssAmt
Other Changes In Net Assets-$4,002OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
Acct Compile Or Review BasisAcctCompileOrReviewBasisGrp
FS AuditedfalseFSAuditedInd
FS Audited BasisFSAuditedBasisGrp
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type1Yes (X)SupportingOrgType1Ind
Supported Organizations1SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp

Supported Organization Name SupportedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1MOUNT OLIVE COLLEGEBusinessNameLine1Txt
FieldValueIRS element (for citing)
EIN560623936EIN
Organization Type2OrganizationTypeDesc
Governing Document ListedYes (true)GoverningDocumentListedInd
Support$200,000SupportAmt
Other Support$0OtherSupportAmt
FieldValueIRS element (for citing)
Supported Organizations Total1SupportedOrganizationsTotalCnt
Support Sum$200,000SupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (true)ListedByNameGoverningDocInd
Suprt Org No IRS DeterminationfalseSuprtOrgNoIRSDeterminationInd
Supported Org Section C456falseSupportedOrgSectionC456Ind
Supported Org Not Organized USfalseSupportedOrgNotOrganizedUSInd
Organization Change Suprt OrgfalseOrganizationChangeSuprtOrgInd
Support Non Supported OrgfalseSupportNonSupportedOrgInd
Payment Substantial ContribtrfalsePaymentSubstantialContribtrInd
Loan Disqualified PersonfalseLoanDisqualifiedPersonInd
Controlled Disqualified PrsnfalseControlledDisqualifiedPrsnInd
Disqualified Prsn Controll IntfalseDisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr IntfalseDisqualifiedPrsnOwnrIntInd
Excess Business Holdings RulesfalseExcessBusinessHoldingsRulesInd
Contribution ControllerfalseContributionControllerInd
Contribution FamilyfalseContributionFamilyInd
Contribution35 ControlledfalseContribution35ControlledInd

Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp

FieldValueIRS element (for citing)
Power Appoint Majority Dir TrstYes (true)PowerAppointMajorityDirTrstInd
Operate Benefit Non Suprt OrgfalseOperateBenefitNonSuprtOrgInd

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
CY Adj Net Income Distributable$0CYAdjNetIncomeDistributableAmt
CY Pct85 Adjusted Net Income$0CYPct85AdjustedNetIncomeAmt
CY Total Min Ast Distributable$0CYTotalMinAstDistributableAmt
CY Greater Adjusted Minimum$0CYGreaterAdjustedMinimumAmt
CY Income Tax Imposed PY$0CYIncomeTaxImposedPYAmt
CY Distributable As Adjusted$0CYDistributableAsAdjustedAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$11,445OtherCostOrOtherBasisAmt
Book Value$11,445BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$11,445TotalBookValueLandBuildingsAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedfalseGrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1MOUNT OLIVE COLLEGEBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1634 HENDERSON STREETAddressLine1Txt
CityMOUNT OLIVECityNm
State AbbreviationNCStateAbbreviationCd
ZIP28365ZIPCd
FieldValueIRS element (for citing)
Recipient EIN560623936RecipientEIN
Cash Grant$200,000CashGrantAmt
Purpose Of GrantPROVIDE SCHOLARSHIPS FOR RESIDENTS OF DUPLIN COUNTY AND THE TOWN OF MOUNT OLIVE, NC WHO ARE FULL OR PART-TIME STUDENTS OF MOUNT OLIVE COLLEGEPurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceEXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2FormAndLineReferenceDesc
ExplanationALL OF THE FUNDS ARE DISBURSED TO MOUNT OLIVE COLLEGE AND SENT TO THE COLLEGE CASHIER TO BE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS AS SCHOLARSHIP AWARDS.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (19 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 1aNO DIFFERENCES
DESCRIPTION OF REASONABLE EFFORTS UNDERTAKENNONE
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 3N/A
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 4NONE
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 5N/A
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 6NONE
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 7aNONE
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 7bNO
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8aN/A
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8bN/A
FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEWREVIEWED BY TRUSTEE
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 9MARY H DRUMMOND - 607 COLONIAL DR, HIGH POINT, NC 27262 MOUNT OLIVE COLLEGE - 634 HENDERSON ST, MOUNT OLIVE, NC 28365
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12cNONE
DESCRIPTION OF PROCESS FOR DETERMINING COMPENSATIONNONE
DESCRIPTION OF PROCESS FOR DETERMINING COMPENSATIONNONE
DESCRIPTION FOR MAKING DOCUMENTS PUBLICWE MAKE OUR FORM 1023 AND FORMS 990 AVAILABLE TO THE PUBLIC UPON REQUEST
DESCRIPTION FOR MAKING DOCUMENTS PUBLICWE MAKE OUR GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
ESTIMATE OF AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONSBRANCH BANKING & TRUST COMPANY, 1 HOUR
EXPLANATION FOR FORM 990, PART XI, LINE 9DIFFERENCE IN MUTUAL FUNDS RECEIVED/REPORTED