TY 2020 IRS 990 e-File Render
Name:
THE GOSNOLD FOUNDATION INC
EIN:
04-2662134
Statement:
GOSNOLD FOUNDATION, INC. (THE ORGANIZATION") TERMINATION UNDER SECTION 507(B)(1)(A) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE") 1. DESCRIPTION OF TRANSACTIONS. THE ORGANIZATION HAS TRANSFERRED ALL RIGHT, TITLE, AND INTEREST IN ALL OF THE FUNDS FROM ITS OWN FINANCIAL ACCOUNTS TO THE FOLLOWING ORGANIZATION (THE "GRANTEE"), WHICH IS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE CODE BY REASON OF BEING DESCRIBED IN SECTIONS 501(C)(3), 509(A)(1), AND 170(B)(1)(A)(VI) OF THE CODE: GOSNOLD, INC. EIN: 04-2502970 THE USES TO WHICH THE TRANSFERRED FUNDS WILL BE PUT SHALL FURTHER THE CHARITABLE PURPOSES OF THE ORGANIZATION AND ARE CONSISTENT WITH THE CHARITABLE PURPOSES OF THE GRANTEE. NO MATERIAL RESTRICTIONS OR CONDITIONS THAT MIGHT PREVENT THE GRANTEE FROM FREELY AND EFFECTIVELY EMPLOYING THE TRANSFERRED FUNDS, OR THE INCOME DERIVED THEREFROM, IN FURTHERANCE OF THEIR EXEMPT PURPOSES HAVE BEEN IMPOSED ON THE TRANSFERRED FUNDS. THE GRANTEE WAS FORMED IN 1972 AND THUS HAS BEEN IN EXISTENCE FOR AT LEAST 60 CALENDAR MONTHS IMMEDIATELY PRECEDING THE DATE OF DISTRIBUTION. 2. VOTES OF THE BOARD OF DIRECTORS. PLEASE SEE THE ATTACHED OFFICER'S CERTIFICATE THAT INCLUDES THE VOTES TAKEN BY THE ORGANIZATION'S BOARD OF DIRECTORS ON 11/4/2020 THAT AUTHORIZE THE DISTRIBUTION TO THE GRANTEE BY WAY OF AUTHORIZATION OF A MERGER WITH AND INTO GRANTEE. A COPY OF THE ARTICLES OF MERGER FILED ON 5/11/2021IS ALSO ATTACHED. 3. RECIPIENT OF THE ORGANIZATION'S ASSETS. THE GRANTEE INTO WHICH THE ORGANIZATION HAS MERGED AND WHICH RECEIVED ALL OF THE ORGANIZATION'S ASSETS IN THE MERGER IS: GOSNOLD, INC., 200 TER HEUN DRIVE, FALMOUTH, MA 02540 4. NATURE AND FAIR MARKET VALUE OF THE TRANSFERRED ASSETS. THE VALUE OF THE CASH AND ASSETS OF THE ORGANIZATION THAT WERE TRANSFERRED TO THE GRANTEE BY OPERATION OF THE MERGER WAS $203,036 5. CORPORATE TERMINATION. THE ORGANIZATION WAS OFFICIALLY DISSOLVED AS A RESULT OF THE MERGER WITH GRANTEE, WHICH WAS EFFECTIVE ON 4/21/2021. THE FINAL DISTRIBUTION OF THE ORGANIZATION'S ASSETS WAS MADE ON 4/21/21, THE EFFECTIVE DATE OF THE MERGER.