THE TRUSTEES AGREED AND SIGNED A RESOLUTION IN OCTOBER 2023 TO EXECUTE A PLAN OF DISSOLUTION WITH THE DISBURSEMENT OF THE REMAINING FINANCIAL ASSETS IN A 50/50 PRORATED SHARE TO THE UNITED WAY OF METROPOLITAN ATLANTA (40 COURTLAND STREET NE #300, ATLANTA, GA 30303) AND THE ATLANTA COMMUNITY FOOD BANK (3400 N DESERT DRIVE EAST POINT, GA 30344). BOTH ORGANIZATIONS ARE QUALIFIED 501(C) PUBLIC CHARITIES. DISSEMINATING THE FOUNDATION PLAN ASSETS TO THESE TWO ORGANIZATIONS IS CONSISTENT WITH A LONG-TERM PLAN TO SUPPORT THESE TWO PARTICULAR CHARITIES AT SUCH TIME AS THE TRUSTEES DESIRED TO DISSOLVE THE FOUNDATION. THE STOCK HOLDINGS OF THE FOUNDATION WERE LIQUIDATED IN JANUARY 2024 TO A CASH BALANCE. IN COORDINATION WITH THE RECEIVING ORGANIZATIONS, A TRANSFER OF $474,696 TO THE UNITED WAY AND $474,636 TO THE ATLANTA COMMUNITY FOOD BANK WAS WIRE TRANSFERRED ON 2/14/2024. A SMALL RESIDUAL PAYMENT RESULTING FROM A FINAL DEPOSIT OF INTEREST INTO THE FOUNDATION ACCOUNT WAS DISBURSED ON 2/29/2024 IN THE AMOUNT OF $1,003 TO UNITED WAY OR METROPOLITAN ATLANTA AND $1,033 TO THE ATLANTA COMMUNITY FOOD BANK THEREBY DEPLETING THE FOUNDATIONS FUNDS TO $0 AND FURTHER OPERATION OF THE FOUNDATION WAS TERMINATED THAT DAY. A COPY OF THE SIGNED AGREEMENT FOR TERMINATION BY THE FOUNDATION TRUSTEES IS INCLUDED HEREIN.
Application Information
Accepts Unsolicited ProposalsUnknown
Contact PersonKENT C NELSON
Phone4042569114
DeadlinesSUBMISSIONS WILL BE CONSIDERED WHEN RECEIVED.
How to ApplyTHE FOUNDATION HAS NO REQUIRED FORM. ALL INFORMATION THAT THE REQUESTING ORGANIZATION DEEMS APPOPRIATE SHOULD BE SUBMITTED.
RestrictionsTHERE ARE NO RESTRICTIONS OR LIMITATIONS ON AWARDS OTHERS THAN THEY BE USED FOR QUALIFIED PURPOSES.
Financial Trends
2022 data appears limited (dashed line) because the IRS transitioned its e-filing system that year and only published 2 months of XML archives.