2024-05-15T11:32:03-05:00 2023-06-30 440160260 FORVIS LLP 525 EAST BAY STREET STE 100 CHARLESTON SC 29403 990 2022-07-01 570611604 MIDDLETON PLACE FOUNDATION MIDD 8435566020 4300 ASHLEY RIVER ROAD CHARLESTON SC 29414 BETH KERRIGAN INTERIM PRESIDENT & CEO 8435566020 2024-05-15 1 BETH KERRIGAN 999009999 1 AMY BIBBY P00445891 8437226443 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BETH KERRIGAN 4300 ASHLEY RIVER ROAD CHARLESTON SC 29414 3221707 0 X WWW.MIDDLETONPLACE.ORG X 1974 SC TO SUSTAIN THE HIGHEST LEVELS OF PRESERVATION AND INTERPRETATION FOR MIDDLETON PLACE. 18 18 63 183 0 0 1142914 1046500 1667416 1936371 393393 -119806 18335 68706 3222058 2931771 0 0 0 0 858601 988322 0 0 0 552649 1089915 1411250 2078237 1810808 853534 37050119 38319132 593826 385601 36456293 37933531 TO SUSTAIN THE HIGHEST LEVELS OF PRESERVATION AND INTERPRETATION FOR THE COLLECTIONS AND PROGRAMS OF THE MIDDLETON PLACE NATIONAL HISTORIC LANDMARK, ITS GARDENS, HOUSE, PLANTATION STABLEYARDS AND THE EDMONDSTON-ALSTON HOUSE MUSEUM. 0 0 1591398 1942315 THE MIDDLETON PLACE FOUNDATION OWNS AND OPERATES THE GARDENS, HOUSE MUSEUM, AND PLANTATION STABLEYARDS AT MIDDLETON PLACE AND MANAGES THE EDMONDSTON-ALSTON HOUSE MUSEUM ON EAST BATTERY STREET IN DOWNTOWN CHARLESTON. 1591398 1 1 0 0 0 0 1 1 0 1 1 0 1 0 0 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 1 0 0 0 1 5 0 1 63 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 SC X TRACEY TODD 8435566020 4300 ASHLEY RIVER RD CHARLESTON SC 29414 MIKE LAUGHLIN CHAIR 1.00 X X 0 0 0 PIERRE MANIGAULT VICE CHAIRMAN 1.00 X X 0 0 0 CHARLES DUELL PRESIDENT EMERITUS 25.00 X X 0 100000 4215 SALLIE DUELL PRESIDENT EMERITUS 1.00 X X 0 0 4215 RICHARD LEADEM TREASURER 1.00 X X 0 0 0 CAROLINE PALMER SECRETARY 1.00 X X 0 0 0 ROBERT BELLINGER BOARD MEMBER 1.00 X 0 0 0 SCOTT BESSENT BOARD MEMBER 1.00 X 0 0 0 OLIVIA BROCK BOARD MEMBER 1.00 X 0 0 0 HERBERT DRAYTON BOARD MEMBER 1.00 X 0 0 0 ARTHUR AC GEORGE BOARD MEMBER 1.00 X 0 0 0 JONATHAN GREEN BOARD MEMBER 1.00 X 0 0 0 HANK HOLLIDAY BOARD MEMBER 1.00 X 0 0 0 JIM KUYK BOARD MEMBER 1.00 X 0 0 0 EARL MCMILLEN BOARD MEMBER 1.00 X 0 0 0 LEE PRINGLE BOARD MEMBER 1.00 X 0 0 0 ASCANIO SERENA BOARD MEMBER 1.00 X 0 0 0 ANNE TINKER BOARD MEMBER 1.00 X 0 0 0 TRACEY TODD CEO 40.00 X 0 125000 0 0 225000 8430 0 0 0 0 0 204134 842366 1046500 GARDEN AND STABLE YARDS 900099 703900 703900 MIDDLETON PLACE HOUSE ADMISSIONS 900099 541199 541199 EDMONDSTON-ALSTON HOUSE ADMISSION 900099 356163 356163 MEMBERSHIPS 900099 175009 175009 SERVICE REVENUE 900099 108131 108131 51969 51969 1936371 167982 167982 287788 -287788 -287788 -287788 8092 2148 5944 5944 MISCELLANEOUS INCOME 900099 62762 62762 62762 2931771 1942315 0 -57044 125000 125000 776931 712054 64877 16266 15314 952 70125 54519 15606 36392 36392 136296 19898 116398 11608 9671 1937 481258 371099 110159 1257 603 654 229471 224050 5421 2010 1409 601 1620 954 666 166316 166316 22465 14289 8176 EXHIBIT EXPENSE 1019 1019 CONSERVATION EXPENSES 203 203 2078237 1591398 486839 0 348694 245531 1726861 1654957 5729018 7262363 47777 27234 7828059 2029940 5950949 5798119 4208155 4292263 19038665 19038665 37050119 38319132 277992 264469 111700 121132 204134 0 593826 385601 X 33534141 34917922 2922152 3015609 36456293 37933531 37050119 38319132 853534 623704 0 X X 0 1 X 1 0 X 952631 768124 7380473 1142914 1046500 11290642 952631 768124 7380473 1142914 1046500 11290642 6349986 4940656 228292 264639 283911 160763 167982 1105587 37059 28482 5862 62762 134165 12530394 8031634 0.39430 0.38370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 1 2842165 X X X 0 1075031 161416 41360 1277807 1164678 64246 -153893 1075031 892302 52088 220288 1164678 842184 12750 37368 892302 784260 5950 51974 842184 0.18900 0.81100 0 0 2582547 2582547 3543285 1371202 2172083 1324732 512653 812079 223300 86414 136886 154195 59671 94524 5798119 COLLECTION ITEMS 2842165 C MIDDLETON PLACE LANDMARK 9450000 C MIDDLETON PLACE OPERATING 11500 C THE INN AT MP LLC STOCK 6735000 C 19038665 X 3674362 623704 623704 3050658 36392 -155279 -118887 2931771 2197124 155279 155279 2041845 36392 36392 2078237 PART II, LINE 9: CONSERVATION EASEMENTS ARE RECORDED AT ESTIMATED FAIR MARKET VALUE WHEN RECEIVED, PROVIDED THAT THE ORGANIZATION HAS A CLEARLY MEASURABLE AND OBJECTIVE BASIS FOR DETERMINING VALUE. IF VALUES ARE NOT REASONABLY DETERMINED, THE DONATIONS ARE NOT RECORDED. PART III, LINE 4: COLLECTION ITEMS INCLUDE ANTIQUE FURNISHINGS, PAINTINGS, AND HISTORICAL DOCUMENTS. ONE OF THE FOUNDATIONS PURPOSES IS TO PROVIDE THE HIGHEST LEVELS OF PRESERVATION AND INTERPRETATION FOR THE COLLECTION ITEMS DESCRIBED HEREIN. PART V, LINE 4: THE ORGANIZATIONS ENDOWMENTS INCLUDE THE FORT HILL FOUNDATION GIFT OF $100,000 TOWARD A CONSERVATION ENDOWMENT THAT IS SUBJECT TO THE FOLLOWING TERMS: A. THE PROPOSED CONSERVATION ENDOWMENT WOULD SPEND ANNUALLY AN AMOUNT NOT TO EXCEED THE REAL RATE OF RETURN FOR THE ON-GOING PRESERVATION NEEDS OF THE GARDENS AND BUILDINGS AT MIDDLETON PLACE. B. ONLY AFTER THE $100,000 ORIGINAL CORPUS OF THE CONSERVATION ENDOWMENT HAS BEEN MATCHED FOUR TO ONE, INCREASING THE ENDOWMENT TO $500,000, CAN THE PRINCIPAL BE INVADED BY A VOTE OF TWO-THIRDS OF THE TRUSTEES EMPOWERED TO VOTE, AND THEN ONLY FOR THE PURPOSE OF BORROWING FROM THE ENDOWMENT TO PAY FOR NECESSARY CONSERVATION MEASURES REQUIRED BY AN UNANTICIPATED EVENT SUCH AS A MAJOR HURRICANE. C. THE CONSERVATION ENDOWMENT OF THE MIDDLETON PLACE FOUNDATION WAS ESTABLISHED BY THIS GIFT IN THE LOVING MEMORY OF ANNA MATHESON WOOD. A PERMANENT RECORD OF THIS GIFT AND ITS MEMORIAL ASPECT HAS BEEN ESTABLISHED AS DEEMED APPROPRIATE BY THE TRUSTEES OF THE MIDDLETON PLACE FOUNDATION, AND THE FORMER TRUSTEES OF THE FORT HILL FOUNDATION HAVE BEEN SO INFORMED. PART X, LINE 2: MIDDLETON PLACE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES FOR MIDDLETON PLACE FOUNDATION. TAX POSITIONS MUST MEET A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT IN ORDER FOR THE BENEFIT OF THOSE TAX POSITIONS TO BE RECOGNIZED IN THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2023 AND 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -2,148. RESTRICTED CONTRIBUTION EXPENSES -153,131. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 2,148. RESTRICTED CONTRIBUTION EXPENSES 153,131. FORM 990, PART VI, SECTION A, LINE 2 CHARLES H. P. DUELL AND SALLIE M. DUELL HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTANT WITH ASSISTANCE AND OVERSIGHT BY MANAGEMENT. A DRAFT COPY OF FORM 990 WAS REVIEWED BY THE VP OF ACCOUNTING, PRESIDENT, AND THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO ACKNOWLEDGE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES RECOMMENDS AND APPROVES THE PRESIDENT'S SALARY ANNUALLY FROM KNOWLEDGE OF COMPARABLE POSITIONS IN THE CHARLESTON AREA. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ADMINISTRATION OFFICE. IN ADDITION, THE 990 IS AVAILABLE ON WWW.GUIDESTAR.ORG FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MIDDLETON PLACE PRESERVATION FOUNDATION 4300 ASHLEY RIVER ROAD CHARLESTON SC 29414 814458960 TO SERVE AS DONOR AND TRUSTEE OF THE MIDDLETON PLACE FOUNDATION SC 501(C)(3) 0 MIDDLETON OPERATING CORPORATION 4300 ASHLEY RIVER ROAD CHARLESTON SC 29414 570811262 TOURS & RENTALS SC MIDDLETON PLACE FOUNDATION C 837 1.00000 0 MIDDLETON PLACE REGISTERED NATIONAL HISTORIC LANDMARK INC 4300 ASHLEY RIVER ROAD CHARLESTON SC 29414 570605970 ADMISSIONS, MUSEUM SHOP & CATERING/RESTAURANT SC MIDDLETON PLACE FOUNDATION C 5847151 3733450 1.00000 0 THE INN AT MIDDLETON PLACE LLC 4300 ASHLEY RIVER ROAD CHARLESTON SC 29414 853648676 INN/LODGING SC MIDDLETON PLACE FOUNDATION C 2204092 10962733 1.00000 0 1 0 1 1 1 0 0 0 0 0 1 1 1 0 0 1 0 0 1 MIDDLETON PLACE REGISTERED NATIONAL HISTORIC LANDMARK INC A 2183 COST MIDDLETON PLACE REGISTERED NATIONAL HISTORIC LANDMARK INC D -1089704 COST MIDDLETON PLACE REGISTERED NATIONAL HISTORIC LANDMARK INC K 75181 COST THE INN AT MIDDLETON PLACE LLC E 1685089 COST