Return of Private Foundation
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Return of Private Foundation OMB No 1545-0052 Form 'PF 990 or Section 4947(a)(1) Nonexempt Charitable Trust ^007 Department of the Treasury Treated as a Private Foundation L Internal Revenue Service Note : The foundation may be able to use a copy of this return to satisfy state reporting requirements For calendar year 2007 , or tax year beginning February 1 , 2007, and ending January 31 , 2003 G Check all that apply: n Initial return n Final return n Amended return n Address change (1 Name change Use the IRS Name of foundation A Employer identification number label. Lowe 's Charitable and Educational Foundation 56-6061689 Otherwise , Number and street (or P O box number if mad is not delivered to street address ) Room/swte B Telephone number ( see page 10 of the instruct^on< print or typpe. PO Box 1111 (704) 758-2009 See Specific City or town , state , and ZIP code q C If exemption application is pending , check here ► Instructions . North Wilkesboro, NC 28656 D 1. Foreign organizations, check here . H Check type of organization : Section 501 (c)(3) exempt private foundation 2. Foreign organizations meeting the 85% test, q Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation check here and attach com putation .. ► E If private foundation status was terminated I Fair market value of all assets at end J Accounting method : B] Cash El Accrual q under section 507(bx1)(A)• check here... ► of year (from Part ll, col. (c), q Other ( specify ) F If the foundation is in a 60-month termination line 16) ► $ 15,095,667. (Part 1, column (d) must be on cash basis ) under section 507(b)(1)(B), check here... ► ,Part 1) Analysis of Revenue and Expenses (The total of (a) Revenue and (d ) Disbursements ) Net investment (c) Adjusted net for charitable amounts in columns (b), (c), and (d) may not necessarily equal expenses per (b income income purposes the amounts in column (a) (see page 11 of the instructions)) books (cash basis only) I Contributions , gifts , grants , etc , received (attach schedule) 25, 057 , 442. q 2 Check ► if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 208, 356. 208, 356. 208, 356. - 4 Dividends and interest from securities .......... - 5a Gross rents ................... ............. b Net rental income or ( loss) - - 6a Net gain or (loss) from sale of assets not on line 10 d b Gross sales price for all assets on line 6a > 7 Capital gain net income (from Part IV, line 2). .. 8 Net short-term capital gain .. • ............... - 0 9 Income modifications Recoveries - ' , - 17,060. 10a Gross sales less returns and allowances b Less : Cost of goods sold ..... - c Gross profit or (loss ) ( attach schedule) .......... 0 . 0 . 11 Other income (attach schedule ) ................ 12 Total . Add lines 1 throw h 11 .. 25, 265, 798. 208, 356. 225, 416. • w 13 Compensation of Icew d*eetom -, es , e . oQ U) 14 Other employee s lariesM 9 a) 15 Pension plans, a plo ee benefits . ^.. 0 CL w 16a Legal fees (attach d®^)P..1..$. 20$ .. cn y b Accounting fees ( schedule) , , cc w.2 c Other professional ee ul .... W bT Z - 17 Interest .......... .......... 18 Taxes (attach schedule) see page 14 of the instructions) ... U E 19 Depreciation ( attach schedule ) and depletion .... U) Q 20 Occupancy ................................... 21 Travel , conferences , and meetings ............. 22 Printing and publications .. ................... 23 Other expenses (attach schedule ) 151, 634. 151, 550. 24 Total operating and administrative expenses. y Add lines 13 through 23 ............. .... 151, 634. 0. 0. 151, 550. 25 Contributions, gifts, grants paid ................ 19, 368, 491. 19, 368, 491. 26 Total expenses and disbursements . Add lines 24 and 25 19, 520, 125. 0. 0. 19,520,041. 27 Subtract line 26 from line 12: - - a Excess of revenue over expenses and disbursements 5 , 745, 673. b Net investment income ( if negative, enter -0-) - 208, 356. c Adjusted net income ( if negative , enter -0-) .... 225, 416. For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions . - Form 990-PF (2007) BKA WK7T ri+65oi-001 3 Foirn990-PF(2007 ) Lowe's Charitable and Educational Foundation FEIN 56-6061689 FYE 1/ 31/08 Page 2 ` Attached schedules and amounts in the description column Beginning of year End of year l^a"r't: II Balance Sheets should be for end-of-year amounts only (See instructions) (a) Book Value (b) Book Value (c) Fair Market Value I Cash-non-interest-bearing 9, 332, 934. 15, 095, 667. 15,095,667. 2 Savings and temporary cash investments ............... 3 Accounts receivable ► 0 . Less: allowance for doubtful accounts ► 4 Pledges receivable ► 0. Less: allowance for doubtful accounts ► 5 Grants receivable .................. .................... 6 Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see the instructions) ..... 7 Other notes and loans receivable (attach schedule) ► Less. allowance for doubtful accounts ► 0. w 8 Inventories for sale or use ............. ... ..... .. ... Q 9 Prepaid expenses and deferred charges .................. 10a Investments-U S and state government obligations (attach schedule) b Investments-corporate stock (attach schedule) ......... c Investments-corporate bonds (attach schedule) .......... 11 Investments-land , buildings , and equipment- basis ► 0 . Less accumulated depreciation (attach schedule) ► 12 Investments-mortgage loans .............. ........... 13 Investments-other (attach schedule) ..................... 14 Land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) ► 0 15 Other assets (describe ► 16 Total assets (to be completed by all filers-see the instructions. Also, see page 1, item I) ...................... 9, 332, 934. 15, 095, 667. 15, 095, 667. 17 Accounts payable and accrued expenses ................ 18 Grants payable .......................................... aLD 19 Deferred revenue ........................................ 20 Loans from officers, directors, trustees, and other disqualified persons ca 21 Mortgages and other notes payable (attach schedule) ..... 22 Other liabilities (describe ► 23 Total liabilities (add lines 17 throug h 22 ) . ... ... .... 0. 0. U) Foundations that follow SFAS 117, check here ► and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted ............. ....... ....................... 25 Temporarily restricted ....................... .......... 26 Permanently restricted ................................... LLLL Foundations that do not follow SFAS 117, check here 10, QX and complete lines 27 through 31. to 27 Capital stock, trust principal, or current funds ............. N 28 Paid-in or capital surplus, or land, bldg., and equipment fund Q 29 Retained earnings, accumulated income, endowment, or other funds 9, 332, 934. 15, 095, 667. 30 Total net assets or fund balances (see page 17 of the Z instructions) ............................................. 9, 332, 934. 15, 095, 667. 31 Total liabilities and net assetsifund balances (see page 17 of the instructions) ...................................... 9, 332, 934. 15, 095, 667. LPart 111.1 Analysis Ot changes in Net Assets or Fund Balances 1 Total net assets or fund balances at beginning of year-Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return ) 332, 934. 2 Enter amount from Part I, line 27a ................................................. 2 5,745, 673. Recoveries of prior yr grants-See Sch 3 17,060. 3 Other increases not included in line 2 ( itemize ) ► 4 Add lines 1, 2, and 3 ..... ............... .................................................... 4 15, 095, 667. 5 Decreases not included in line 2 (itemize) ► 5 6 Total net assets or fund balances at end of year ( line 4 minus line 5)-Part II, column (b), line 30 6 15, 09 5, 667. Form 990-PF (2007) W17T FD6591-002 3 Form990-PF(2007) Lowe's Charitable and Educational Foundation FEIN 56-6061689 FYE 1/31/08 Page 3 Piar iVR Capital Gains and Losses for Tax on Investment Income (b) How acquired (a) List and describe the kind(s) of property sold (e g , real estate , P-Purchase (c) Date acquired (d) Date sold stock, 200 shs MLC Co) (mo, day, yr) (mo, day, yr ) 2-story buck warehouse, or common D-Donation 1a b c d e allowed or other (h) Gain or (loss) Gross sales puce (f) Depreciation (g) Cost basis (e) (or allowable) plus expense of sale (e) plus (f) minus (g) a 0. b 0. c 0. d 0. e 0. Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (1) Gains (Col ()h gain minus (k) Excess col (i) col (k), but not less than -0-) or (I) F M V as of 12/31/69 (I) Adjusted basis of as of 12/31/69 over col 0), if any Losses (from col (h)) a 0. 0. b 0. 0. C 0. 0. d 0. 0. e 0. 0. If gain, also enter in Part line 2 Capital gain net income or (net capital loss) I, 7 If (loss), enter -0- in Part I, line 7 2 0. 3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6): If gain, also enter in Part I, line 8, column (c) (see the instructions). If (loss), enter -D- in Part I, line 8 . 3 lPail ,V,I Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.) If section 4940(d)(2) applies, leave this part blank. Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? [ Yes X] No If "Yes ," the foundation does not qualify under section 4940(e). Do not complete this part. I Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries. (a) (d ) Base period years Adjusted distributions Net value of -use assets Distribution ratio Calendar year (or tax year beginning in) qualifying nonchantable (col (b) divided by col (c)) 2006 15,701,118.