2024-10-11T09:57:35-05:00 2022-05-31 561304727 BLACKMAN & SLOOP ADVISORS INC 1414 RALEIGH ROAD SUITE 300 CHAPEL HILL NC 27517 990EZ 2021-06-01 562073623 CRESSET ACADEMY EDUCATIONAL FOUNDATION CRES 9196027328 3707 GARRETT ROAD DURHAM NC 27707 TY GREEN CHAIR 9196027328 2024-10-07 1 ELIZABETH MAUCH P01988953 9199428700 2021 2024-10-15 13:58:12Z X X X X 79231 X 44885 11189 23157 20855 2302 58376 44200 2198 46398 11978 123 -12039 62 X 498 1123 149330 135649 149828 136772 149705 136710 123 62 X SUPPORTING ORGANIZATION FOR CRESSET BAPTIST CHURCH/CRESSET ACADEMY. TO PROVIDE AN ENDOWMENT PROGRAM FOR THE LONG-TERM SUPPORT OF THE SCHOOL TO CRESSET BAPTIST CHURCH AND CRESSET ACADEMY FOR STUDENT SCHOLARSHIPS, ENHANCEMENT OF THE PHYSICAL FACILITIES AND OTHER PROJECTS. 44200 44200 44200 TY GREEN CHAIR 5.00 0 0 0 LAWRENCE VUELTA VICE CHAIR 5.00 0 0 0 NATHANIEL FRY SECRETARY 5.00 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NC STACY DOBSON 3707 GARRETT ROAD DURHAM NC 27707 9196027328 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X X 1 CRESSET CHRISTIAN ACADEMY 560707033 2 1 44200 0 1 44200 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 FUN RUN 30830 30830 30830 30830 FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME DESCRIPTION: DIVIDEND INCOME. AMOUNT: 11,189. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: . GRANTEE NAME: CRESSETT CHRISTIAN ACADEMY. GRANTEE ADDRESS: 3707 GARRETT ROAD DURHAM, NC 27707. GRANTEE RELATIONSHIP: SUPPORTED ORGANIZATION. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 44,200. FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES DESCRIPTION: BANK FEES. AMOUNT: 60. DESCRIPTION: INVESTMENT FEES. AMOUNT: 2,138. TOTAL TO FORM 990-EZ, LINE 16: 2,198. FORM 990-EZ, PART I, LINE 20 - OTHER CHANGES IN NET ASSETS DESCRIPTION: UNREALIZED LOSSES ON INVESTMENTS. AMOUNT: -11,353. DESCRIPTION: CHANGE IN PAYABLES. AMOUNT: -686. TOTAL TO FORM 990-EZ, LINE 20: -12,039. FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS DESCRIPTION: EDWARD JONES INVESTMENTS. BEG. OF YEAR AMOUNT: 149,330. END OF YEAR AMOUNT: 135,649. FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES DESCRIPTION: ACCOUNTS PAYABLE - RELATED PARTY. BEG. OF YEAR AMOUNT: 375. END OF YEAR AMOUNT: 1,005. DESCRIPTION: CONTRIBUTION PAYABLE. BEG. OF YEAR AMOUNT: 149,330. END OF YEAR AMOUNT: 135,705. PLEASE ACCEPT THIS LETTER AS A SIGNED REASONABLE CAUSE STATEMENT FOR CONSIDERATION OF PENALTY ABATEMENT. THE ORGANIZATION INADVERTENTLY MISSED FILING THEIR 2021 AND 2022 990 SERIES RETURNS DUE TO CHANGE IN MANAGEMENT. AS SOON AS THE ORGANIZATION REALIZED THAT THE 2021 AND 2022 FORM 990-EZ HAD NOT BEEN FILED, THEY REACHED OUT TO AN ACCOUNTING FIRM TO PREPARE THE LATE RETURNS. THE ACCOUNTING FIRM HAS SET THE ORGANIZATION UP IN THEIR REMINDER SYSTEM SO THAT FUTURE 990S ARE FILED ON A TIMELY BASIS. THE 2023 RETURN FOR THE PERIOD ENDING MAY 31, 2024 WILL BE TIMELY FILED BY THE OCTOBER 15, 2024 DUE DATE.IN ADDITION, WE ASK THAT YOU CONSIDER THAT THE ORGANIZATION DOES NOT HAVE ANY PAID EMPLOYEES AND ANY LATE FILING PENALTIES WOULD DIVERT NEEDED FUNDS AWAY FROM THE CHARITABLE PROGRAMS OF THE ORGANIZATION.BASED ON THE FOREGOING FACTS AND CIRCUMSTANCES, WE RESPECTFULLY REQUEST THAT YOU ADJUST YOUR RECORDS AND ABATE ANY AND ALL LATE FILING PENALTIES, INCLUDING INTEREST ACCRUED ON THOSE PENALTIES, ACCORDINGLY. THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.