990-PF Return of Private Foundation

Transcription

1 I.. Z Form 990-PF Return of Private Foundation OMB NO Department of the Treasury Internal Revenje Service (77) or Section 4947(a)(1) Nonexempt Charitale Trust 2007 Treated as a Private Foundation Note : The foundation may e ale to use a copy of this return to satisfy state reporting requirements. For calendar year 2007, or tax year eginning r-^ ^, and ending r^ ^ I (`hnnl, nu that -he 1 I Inifial -turn rofiirn I I n.nnn.lnd rnf rn 1 I Ad,1rnnn nh x nnn I I ntn.nn, hxnn_ Use the IRS Name of foundation A Employer identification numer lael IRE STREAK MINISTRY Otherwise, O ROBERT G. WATKINS, PRES print Numer and street (or P 0 ox numer if mail is not delivered to street address) Room/suite B Telephone numer ortype 34 LONGVIEW ROAD ( 610 ) See Specific City or town, state, and ZIP code C It exemption application is pending, check here Instructions. FALLOWFIELD, PA D 1. Foreign organizations, check here H Check type of organization: Section 501(c)(3) exempt private foundation E_]Section 4947 ( a )( 1 ) nonexem p t charitale trust 0 Other taxale p rivate foundation I Fair market value of all assets at end of year J Accounting method. Cash E] Accrual 85% test, 2 check h erean d attac h compta tio E If priva te foun da t ion s ta tus was termina te d under section 507()(1)(A), check here (from Part Il, co! (c), line 16) 0 Other (specify) F If the foundation is in a 60-month terminations $ 108, 371, (Part 1, column (d) must e on cash asis) under section 507 ( )( 1 B), check here Part I Analysis of Revenue and Expenses (a) Revenue and ( ) Net investment (c) Adjusted net ( d) Disursements (The total of amounts in columns (), (c), and (d) may not necessarily equal the amounts in column (a)) expenses per ooks income income 1 Contriutions, gifts, grants, etc., received 80, for charitale purposes (cash asis only) 2 Check If the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments S TATEMENT 1 4 Dividends and interest from securities 5a Gross rents Net rental income or (loss) y 6a Net gain or (loss) from sale of assets not on line 10 7 Gross sales price for all a assets on line 6a 7 Capital gain net income (from Part IV, fine 2) 0, cc 8 Net short-term capital gain 9 Income modifications Gross sales less returns 10a and allowances Less Cost of goods sold c Gross profit or (loss) 11 Other income 12 Total Add lines 1 throu g h 11 80, Compensation of officers, directors trustees etc Other employee salaries and wages 15 Pension plans, employee enefits 16a Legal fees a Accounting fees W c Other professional fees = > 17 Interest Q 18 Taxes CJ E 19 Depreciation and depletion E 20 Occupancy 'D a 21 Travel, conferences, and meetings V 22 Printing and pulications 23 Other expenses 24 Total operating and administrative MAY nnnq IS cuu%j, o. expenses Add lines 13 through Contriutions, gifts, grants paid 77, , Total expenses and disursements. Add lines 24 and 25 77, , Sutract line 26 from line 12: a Excess of revenue over expenses and disursements 2, 976. Net investment income ( if negative enter -0-) c Ad l usted net income (if negative, enter -0-) LHA For Privacy Act and Paperwork Reduction Act Notice, see the instructions OB 1 p 1 61

2 f FIRE STREAK MINISTRY Form 990-PF ( /n PC P.PPT a- WATKTMc ID PR _q 0; 9 ' )QQ Pana9 Part II Balance Sheets Attached schedules and amounts in the description Beginning of year End of year column should etorend-ol -yearamountsonly (a) Book Value () Book Value (c) Fair Market Value 1 Cash - non-interest-earing 2 Savings and temporary cash investments 105, , , Accounts receivale Less: allowance for doutful accounts 4 Pledges receivale Less: allowance for doutful accounts 5 Grants receivale 6 Receivales due from officers, directors, trustees, and other disqualified persons 7 Other notes and loans receivale Less: allowance for doutful accounts. 8 Inventories for sale or use 9 Prepaid expenses and deferred charges 10a Investments - U.S. and state government oligations Investments - corporate stock c Investments - corporate onds 11 Investments - land, uildings, and equipment asis Less accumulated depreciation 12 Investments - mortgage loans 13 Investments - other 14 Land, uildings, and equipment: asis Less accumulated depreciahoo 15 Other assets (descrie 16 Total assets ( to e com p leted y all filers ) 105, , , Accounts payale and accrued expenses 18 Grants payale u) 19 Deferred revenue 20 Loans from officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payale J 22 Other liailities (descrie 23 Total liailities ( add lines 17 throu g h 22 ) Foundations that follow SFAS 117, check here 0 and complete lines 24 through 26 and lines 30 and 31 N ' 24 Unrestricted 25 Temporarily restricted Ta m 26 Permanently restricted Foundations that do not follow SFAS 117, check here LL and complete lines 27 through Capital stock, trust principal, or current funds a 28 Paid-in or capital surplus, or land, ldg., and equipment fund N < 29 Retained earnings, accumulated income, endowment, or other funds , 371. Z 30 Total net assets or fund alances , Total liailities and net assets /fund alances , 371. Part III Analysis of Changes in Net Assets or Fund Balances ' 1 Total net assets or fund alances at eginning of year - Part II, column ( a), line 30 (must agree with end-of-year figure reported on prior year s return ) 1 105, Enter amount from Part I, line 27a 2 2, Other increases not included in line 2 ( itemize) Add lines 1, 2, and , Decreases not included in line 2 ( itemize) Total net assets or fund alances at end of year ( line 4 mi nus line 5) - Part II, column (), line , FIRE STREAK MINISTRY C/0 RO

3 C/O ROBERT G. WATKINS, PRE S Page 3 Part IV I Capital Gains and Losses for Tax on Investment Income (a) List and descrie the kind(s) of property sold (e.g., real estate, ( How acquired Date acquired (d) Date sold 2-story rick warehouse; or common stock, 200 shs. MLC Co.) D - Purchase D - Donation (mo., day, yr.) (mo., day, yr.) 1a NONE C d e (e) Gross sales price (f) Depreciation allowed (g) Cost or other asis (h) Gain or (loss) (or allowale) plus expense of sale (e) plus (f) minus (g) a c d e a c d e Complete only for assets showing gain in column (h) and owned y the foundation on 12/31/69 (I) Gains (Col. (h) gain minus (j) Adjusted asis (k) Excess of col. (i) c ol. (k), ut not less than -0-) or (i) F.M.V. as of 12/31/69 as of 12/31/69 over col. (I), if any Losses (from col. (h)) If gain, also enter in Part I, line 7 2 Capital gain net income or ( net capital P loss ) If (loss), enter -0- in Part I, line 7 f 2 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) If (loss), enter -0- in Part I, line 8 3 Fart y uualitication antler Section 494U(e ) for Hecluceci f ax on Net investment income (For optional use y domestic private foundations suject to the section 4940(a) tax on net investment income.) If section 4940(d)(2) applies, leave this part lank. Was the foundation liale for the section 4942 tax on the distriutale amount of any year in the ase period? E:1 Yes No If "Yes," the foundation does not qualify under section 4940( e). Do not complete this part. 1 Enter the appropriate amount in each column for each year : see instructions efore makino any entries. Base aperiod years Calendar y ear ( o r tax y ear e e inn^n m ( ) Adjusted qualifying distriutions (0 Net value of noncharitale-use assets Distriution co (col. ( d ) di vided y y col. (c)) , , , , , , , , , , Total of line 1, column (d) Average distriution ratio for the 5-year ase period - divide the total on line 2 y 5, or y the numer of years the foundation has een in existence if less than 5 years Enter the net value of noncharitale-use assets for 2007 from Part X, line , Multiply line 4 y line , Enter 1% of net investment income (1% of Part I, line 27) Add lines 5 and , Enter qualifying distriutions from Part XII, line , 425. If line 8 is equal to or greater than line 7, check the ox in Part VI, line 1, and complete that part using a 1% tax rate. See the Part VI instructions /

4 C / O ROBERT G. WATKINS, PRES Page 4 Part VI Excise Tax Based on Investment Income (Section 4940 (a), 4940 (), 4940(e), or see instructions) la Exempt operating foundations descried in section 4940(d)(2), check here L and enter 'N/A' on line 1. Date of ruling letter : (attach copy of ruling letter if necessary-see instructions) Domestic foundations that meet the section 4940(e) requirements in Part V, check here = and enter 1% 1 8. of Part I, line 27 c All other domestic foundations enter 2% of line 27. Exempt foreign organizations enter 4% of Part I, line 12, col. () 2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxale foundations only. Others enter -0-) Add lines 1 and Sutitle A (income) tax (domestic section 4947(a)(1) trusts and taxale foundations only. Others enter -0-) Tax ased on investment income Sutract line 4 from line 3. If zero or less, enter Credits/Payments: a 2007 estimated tax payments and 2006 overpayment credited to a Exempt foreign organizations - tax withheld at source 6 c Tax paid with application for extension of time to file (Form 8868) 6c d Backup withholding erroneously withheld 6d 7 Total credits and payments. Add lines 6a through 6d Enter any penalty for underpayment of estimated tax. Check here 0 if Form 2220 is attached 8-9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid Enter the amount of line 10 to e: Credited to 2008 estimated tax Poo, Refunded No. 11 Part VII -A Statements Regarding Activities la During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in Yes No any political campaign? is X Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)? l X If the answer is "Yes" to 1a or 1, attach a detailed description of the activities and copies of any materials pulished or distriuted y the foundation in connection with the activities c Did the foundation file Form POL for this year? is X d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year: (1) On the foundation. $ 0. (2) On foundation managers. $ 0. e Enter the reimursement (if any) paid y the foundation during the year for political expenditure tax imposed on foundation managers. $ 0. 2 Has the foundation engaged in any activities that have not previously een reported to the IRS? 2 X If "Yes, " attach a detailed description of the activities 3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or ylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes 3 X 4a Did the foundation have unrelated usiness gross income of $1,000 or more during the year? 4a X If "Yes," has it filed a tax return on Form 990 -T for this year? N/A 4 5 Was there a liquidation, termination, dissolution, or sustantial contraction during the year? 5 X If "Yes, " attach the statement required y General Instruction T 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either. By language in the governing instrument, or By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law remain in the governing instrument? 6 X 7 Did the foundation have at least $5,000 in assets at any time during the year? 7 X If "Yes, " complete Part ll, col (c), and Part XV 8a Enter the states to which the foundation reports or with which it is registered (see instructions) PA If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state as required y General Instruction G2 If "No," attach explanation 8 X 9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(1)(3) or 4942(1)(5) for calendar year 2007 or the taxale year eginning in 2007 (see instructions for Part XIV)2 If "Yes," complete Part XIV 9 X 10 Did any persons ecome sustantial contriutors during the tax year? if "Yes." attach a schedule hstmu their names and addresses 10 X

5 C / O ROBERT G. WATKINS, PRES Page 5 Part VII -A Statements Regarding Activities (continued) 11a At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the meaning of section 512()(13)' If 'Yes; attach schedule. (see instructions) If'Yes,' did the foundation have a inding written contract in effect on August 17, 2006, covering the interest, rents, royalties, and annuities descried in the attachment for line 1la? N/A 12 Did the foundation acquire a direct or indirect interest in any applicale insurance contract? 12 X I 13 Did the foundation comply with the pulic inspection requirements for its annual returns and exemption application? 13 X Wesite address N/A 14 The ooks are in care of ROBERT G. WATKINS Telephone no Located at 3 4 LONGVI EW ROAD, E. FALLOWF I ELD, PA ZIP Section 4947( a)(1) nonexempt charitale trusts filing Form 990-PF in lieu of Form Check here 0 and enter the amount of tax - exempt interest received or accrued durino the year 15 I N/A Part VII- B Statements Regarding Activities for Which Form 4720 May Be Required File Form 4720 if any item is checked in the "Yes " column, unless an exception applies. Yes No la During the year did the foundation (either directly or indirectly): (1) Engage in the sale or exchange, or leasing of property with a disqualified person9 Yes No (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? 0 Yes No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person' 0 Yes No (4) Pay compensation to, or pay or reimurse the expenses of, a disqualified persons 0 Yes No (5) Transfer any income or assets to a disqualified person (or make any of either availale for the enefit or use of a disqualified person)' = Yes No (6) Agree to pay money or property to a government official9 ( Exception Check 'No' if the foundation agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days.) Yes No If any answer is "Yes" to 1a ( 1)-(6), did any of the acts fail to qualify under the exceptions descried in Regulations section ( d)-3 or in a current notice regarding disaster assistance ( see page 22 of the instructions)' N/A Organizations relying on a current notice regarding disaster assistance check here 0 c Did the foundation engage in a prior year in any of the acts descried in la, other than excepted acts, that were not corrected efore the first day of the tax year eginning in Taxes on failure to distriute income ( section 4942 ) ( does not apply for years the foundation was a private operating foundation defined in section 4942 ( l)(3) or 4942 ( l)(5)): a At the end of tax year 2007, did the foundation have any undistriuted income ( lines 6d and 6e, Part XIII ) for tax year ( s) eginning efore Yes No If "Yes," list the years Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistriuted income9 (If applying section 4942(a)(2) to all years listed, answer "No' and attach statement - see instructions.) N/A 2 c If the provisions of section 4942(a)(2) are eing applied to any of the years listed in 2a, list the years here. 3a Did the foundation hold more than a 2% direct or indirect interest in any usiness enterprise at any time during the year' 0 Yes No If "Yes," did it have excess usiness holdings in 2007 as a result of (1) any purchase y the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved y the Commissioner under section 4943(c)(7)) to dispose of holdings acquired y gift or equest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine if the foundation had excess usiness holdings in 2007) N/A 3 4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitale purposes? 4a Did the foundation make any investment in a prior year (ut after Decemer 31, 1969) that could jeopardize its charitale purpose that had not een removed from ieooardv efore the first day of the tax year eginning in 2007?

6 r 1n PfRRRT M- WATKTMP PRRR Part VII- B I Statements Regardinq Activities for Which Form 4720 May Be Required (continued) 5a During the year did the foundation pay or incur any amount to: (1) Carry on propaganda, or otherwise attempt to influence legislation ( section 4945 (e))? Yes No (2) Influence the outcome of any specific pulic election ( see section 4955 ); or to carry on, directly or indirectly, any voter registration drive? Yes No (3) Provide a grant to an individual for travel, study, or other similar purposes? Yes No (4) Provide a grant to an organization other than a charitale, etc., organization descried in section 509(a)(1), (2), or (3 ), or section 4940 (d)(2)9 0 Yes No (5) Provide for any purpose other than religious, charitale, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? LI Yes No If any answer is "Yes" to 5a ( 1)-(5), did any of the transactions fail to qualify under the exceptions descried in Regulations section or in a current notice regarding disaster assistance (see instructions)? N/A Organizations relying on a current notice regarding disaster assistance check here c If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the tax ecause it maintained expenditure responsiility for the grant? N/A Yes 0 No If "Yes, " attach the statement required y Regulations section (d) 6a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal enefit contract? 0 Yes No If Did the foundation, during the year, pay premiums, directly or indirectly, on a personal enefit contract? If you answered "Yes" to 6, also file Form a At any time during the tax year, was the foundation a party to a prohiited tax shelter transaction? 0 Yes No Part VIII Information Aout Officers, Directors, Trustees, Foundation Managers, Highly 0 Paid Employees, and Contractors I list all officers- direetnrc_ trustpes_ foundation managers and their cmmnensatinn_ (a) Name and address () Title, and average (c) Compensation (d) Contnuuonsto (e) Expense a pand deterrraplans hours per week devoted ( If not paid, and deterred account, other to position enter -0 -) compensation allowances ROBERT G. WATKINS PRESIDENT 34 LONGVIEW ROAD E. FALLOWFIELD, PA r_mm-nc.tinn of fn, hi,hocf_nairl umnlnvnna lnthar than thnca inrlt,rlori on lino 11 It nnna antar "NfNF " (a) Name and address of each employee paid more than $50,000 NONE () Title and average hours per week devoted to position (c) Com p ensation ( d)contriuonsto emp and eterre plans compensation (e) Expense account, other allowances Total numer of other employees paid over $50,

7 C/O ROBERT G. WATKINS, PRE S Page 7 Information Aout Officers, Directors, Trustees, Foundation Managers, Highly 0 Part VIII Paid Employees, and Contractors (continued) 3 Five highest-paid independent contractors for professional services. If none, enter "NONE." (a) Name and address of each person paid more than $50,000 () Type of service (c) Compensation NONE Total numer of others receivin g over $50, 000 for p rofessional services 0 Part IX- A Summary of Direct Charitale Activities List the foundation's four largest direct charitale activities during the tax year. Include relevant statistical information such as the numer of organizations and other eneficiaries served, conferences convened, research papers produced, etc. N / A Expenses Part IX-B I Summary of Pro g ram -R elated Invest ments Descrie the two largest program-related investments made y the foundation during the tax year on lines 1 and 2. Amount 1 N / A 2 3 All other program-related investments. See instructions. Total. Add lines 1 throu gh FIRE STREAK MINISTRY C/O RO

8 C/O ROBERT G. WATKINS, PRES Page 8 Part X Minimum Investment Return (All domestic foundations must complete this part Foreign foundations, see instructions) 1 Fair market value of assets not used (or held for use) directly in carrying out charitale, etc., purposes: a Average monthly fair market value of securities la Average of monthly cash alances 1 56, 724. c Fair market value of all other assets 1c d Total (add lines la,, and c) 1d 56, 724. e Reduction claimed for lockage or other factors reported on lines la and 1c (attach detailed explanation) le 0. 2 Acquisition indetedness applicale to line 1 assets Sutract line 2 from line 1d 3 56, Cash deemed held for charitale activities. Enter 1 1/2% of line 3 (for greater amount, see instructions) Net value of noncharitale-use assets. Sutract line 4 from line 3. Enter here and on Part V, line , Minimum investment return. Enter 5% of line Distriutale Amount (see instructions) (Section 4942(l)(3) and (j)(5) private operating foundations and certain Part XI foreign organizations check here EJ and do not complete this part.) 1 Minimum investment return from Part X, line 6 1 2, a Tax on investment income for 2007 from Part VI, line 5 2a 8. Income tax for (This does not include the tax from Part VI.) 2 c Add lines 2a and 2 2c 8. 3 Distriutale amount efore adjustments. Sutract line 2c from line 1 3 2, Recoveries of amounts treated as qualifying distriutions Add lines 3 and 4 5 2, Deduction from distriutale amount (see instructions) Distriutale amount as adjusted. Sutract line 6 from line 5. Enter here and on Part XIII, line 1 7 2, PartXII Qualifying Distriutions (see instructions) 1 Amounts paid (including administrative expenses) to accomplish charitale, etc., purposes: a Expenses, contriutions, gifts, etc. - total from Part I, column (d), line 26 la 77, 425. Program-related investments - total from Part IX-B Amounts paid to acquire assets used (or held for use) directly in carrying out charitale, etc., purposes 2 3 Amounts set aside for specific charitale projects that satisfy the: a Suitaility test (prior IRS approval required) 3a Cash distriution test (attach the required schedule) 3 4 Qualifying distriutions Add lines la through 3. Enter here and on Part V, line 8, and Part XIII, line , Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income. Enter 1% of Part I, line Adjusted qualifying distriutions Sutract line 5 from line , 425. Note : The amount on line 6 will e used in Part V, column (), in susequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years

9 C/O ROBERT G. WATKINS, PRES Page 9 Part XIII Undistriuted Income (see instructions) (a) () (c) (d) Corpus Years prior to Distriutale amount for 2007 from Part XI, line 7 2, Undistriuted income, if any, as of the end of 2006 a Enter amount for 2006 only 0. Total for prior years: 0. 3 Excess distriutions ca rryover, if any, to 2007: a From , 487. From , 014. c From , 685. d From , 538. e From , 086. f Total of lines 3a throug h e 385, Qualifying distriutions for 2007 from Part Xl1,line 77, 425. a Applied to 2006, ut not more than line 2a 0. Applied to undistriuted income of prior years (Election required - see instructions) 0. c Treated as distriutions out of corpus (Election required - see instructions) 0. d Applied to 2007 distriutale amount 2, 786. e Remaining amount distriuted out of corpus 74, Excess distriutions carryover applied to (If an amount appears in column ( d), the same amount must e shown in column (a) ) 6 Enter the net total of each column as indicated elow: a Corpus Add lines 3f, 4c, and 4e Sutract line 5 460, 449. Prior years' undistriuted income Sutract line 4 from line 2 0. c Enter the amount of prior years' undistriuted income for which a notice of deficiency has een issued, or on which the section 4942(a) tax has een previously assessed 0, d Sutract line 6c from line 6 Taxale amount - see instructions 0. e Undistriuted income for Sutract line 4a from line 2a. Taxale amount - see instr. 0 f Undistriuted income for Sutract lines 4d and 5 from line 1 This amount must e distriuted in Amounts treated as distriutions out of corpus to satisfy requirements imposed y section 170()(1)(F) or 4942(g)(3) 0 8 Excess distriutions carryover from 2002 not applied on line 5 or line 7 77, Excess distriutions carryover to 2008 Sutract lines 7 and 8 from line 6a 382, Analysis of line 9: a Excess from , 014. Excess from , 685. c Excess from , 538. d Excess from , 086. e Excess from ,

10 Form 990-PF 2007 C / O ROBERT G. WATKINS, PRES Page 10 Part XIV Private Operating Foundations (see instructions and Part VII-A, question 9) N / A 1 a If the foundation has received a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2007, enter the date of the ruling Check ox to indicate whether the foundation is a p rivate o eratm foundation descried in section 4942 (1)( 3 ) or (1)(5) 2 a Enter the lesser of the adjusted net Tax year Prior 3 years income from Part I or the minimum ( a) 2007 ( ) 2006 (c) 2005 ( d) 2004 (e) Total investment return from Part X for each year listed 85% of line 2a c Qualifying distriutions from Part XII, line 4 for each year listed d Amounts included in line 2c not used directly for active conduct of exempt activities e Qualifying distriutions made directly for active conduct of exempt activities. Sutract line 2d from line 2c 3 Complete 3a,, or c for the alternative test relied upon: a "Assets" alternative test - enter: (1) Value of all assets (2) Value of assets qualifying under section 4942 ( j)(3)(b)(i) "Endowment alternative test - enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed c "Support " alternative test - enter: (1) Total support other than gross investment income ( interest, dividends, rents, payments on securities loans ( section 512(a)(5 )), or royalties) (2) Support from general pulic and 5 or more exempt organizations as provided in section 4942( I)(3)(B)(m) (3) Largest amount of support from an exempt organization ( 4 ) Gross investment income Part XV Supplementary Information (Complete this part only if the foundation had $5, 000 or more in assets at any time during the year- see the instructions.) 1 Information Regarding Foundation Managers: a List any managers of the foundation who have contriuted more than 2% of the total contriutions received y the foundation efore the close of any tax year ( ut only if they have contriuted more than $5,000 ). ( See section 507(d)(2).) ROBERT G. WATKINS List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the ownership of a partnership or other entity) of which the foundation has a 10% or greater interest. NONE 2 Information Regarding Contriution, Grant, Gift, Loan, Scholarship, etc., Programs: Check here if the foundation only makes contriutions to preselected charitale organizations and does not accept unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under other conditions, complete items 2a,, c, and d. a The name, address, and telephone numer of the person to whom applications should e addressed N/A The form in which applications should e sumitted and information and materials they should include N c Any sumission deadlines: N/A d Any restrictions or limitations on awards, such as y geographical areas, charitale fields, kinds of institutions, or other factors: N/A / FIRE STREAK MINISTRY C/O RO

11 C / O ROBERT G. WATKINS, PRES Page 11 Part XV Supplementary Information (continued) 3 Grants and Contriutions Paid During the Year or Approved for Future Pa ment Recipient If recipient is an individual, show any relationship to Foundation Purpose of grant or Name and address (home or usiness) any foundation manager status of contriution Amount or sustantial contriutor recipient a Paid during the year THREESIXTEEN MINISTRY, INC., 34 LONGVIEW ROAD, EAST FALLOWFIELD, PA CHARITABLE 22,000. JESUS BRETHREN MINISTRIES, ABA, NIGERIA CHARITABLE 25,000. PRAISE FELLOWSHIP CHURCH, 142 WALLACE AVE, DOWNINGTOWN, PA CHARITABLE 1,500. AIR AMBULANCE SPECIALISTS, INC., 8001 S. INTERPORT BLVD, STE 250, ENGLEWOOD, CO CHARITABLE 23,925. ASSEMBLIES OF CHRIST CHURCH, INC., P.O. BOX 4068, SIDNEY, OH CHARITABLE 2,000. CAMPUS CRUSADERS FOR CHRIST, P.O. BOX 28222, ORLANDO, FL CHARITABLE 1,000. COUNTY CORRECTIONS GOSPEL MISSION, P.O. BOX 1136, COATESVILLE, PA CHARITABLE 2,000. Total 3a 77, 425. Approved for future payment NONE Total /

12 C/O ROBERT G. WATKINS, PRES Page 12 Part XVI -A Enter 1 Program service revenue: a c d e Analysis of Income-Producing Activities f 9 Fees and contracts from government agencies 2 Memership dues and assessments 3 Int Brest on savings and temporary cash myestments Dividends and interest from securities 5 Net rental income or (loss) from real estate: a Det-financed property Not det-financed property 6 Net rental income or (loss) from personal pro perty 7 0th er investment income 8 Gal n or (loss) from sales of assets other tha n inventory 9 Net income or (loss) from special events 10 Gr o ss profit or (loss) from sales of inventory 11 0th er revenue: a c d e ross amounts unless otherwise indicated Unrelate d usiness income Exclu ded. y section 512, 513 or Sutotal Add columns (), (d), and (e) Total Add line 12, columns (), (d), and (e) (See worksheet in line 13 instructions to verify calculations.) Part XVI- B (a) Busi n ess co d e () Amount Excfusion code ( d) Amount Relationship of Activities to the Accomplishment of Exempt Purposes (e) Related or exempt function income 12

13 C/O ROBERT G. WATKINS, PRES Page 13 Part XVII Information Regarding Transfers To and Transactions and Relationships With Noncharitale Exempt Organizations a Did the organization directly or indirectly engage in any of the following with any other organization descried in section 501 (c) of Yes No the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations? Transfers from the reporting foundation to a noncharitale exempt organization of: (1) Cash Wi ll X (2) Other assets la ( 2 ) X Other transactions: (1) Sales of assets to a noncharitale exempt organization l ( l ) X (2) Purchases of assets from a noncharitale exempt organization l ( 2 ) X (3) Rental of facilities, equipment, or other assets l ( 3 ) X (4) Reimursement arrangements l ( 4 ) X (5) Loans or loan guarantees l ( 5 ) X (6) Performance of services or memership or fundraising solicitations l ( 6 ) X Sharing of facilities, equipment, mailing lists, other assets, or paid employees 1c X If the answer to any of the aove is 'Yes,' complete the following schedule. Column () should always show the fair market value of the goods, other assets, or services given y the reporting foundation. If the foundation received less than fair market value in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received. 2a Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations descried in section 501 ( c) of the Code ( other than section 501(c)(3)) or in section Yes [XI No If "Yes," complete the following schedule. (a) Name of organization () Type of organization (c) Description of relationship N / A Unde allies of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the est of my knowledge and elief, it is true, correct, and complete Declara ro axpayer or fiduciary) is on all information of which preparer has any knowledge Signature f officer or trustee Preparer's signature ROBERT F. FISCHER CPA ay Firmsname (oryours FISCHER CUNNANE & ASSO' a U) If self-employed), 11 TURNER LANE address,andzlpcode ' WEST CHESTER, PA

14 Schedule B Schedule of Contriutors OMB No (Form 990, 990-EZ, or PF) Supplementary Information for 2007 Department of- he Treasury Internal Revenue Service line 1 of Form 990, 990-EZ, and PF (see instructions) Name of organization Employer identification numer FIRE STREAK MINISTRY C/O ROBERT G. WATKINS, PRES Organization type (check one) Filers of : Section: Form 990 or 990-EZ = 501(c)( ) (enter numer) organization ( a)(1) nonexempt charitale trust not treated as a private foundation 527 political organization Form 990-PF 501(c)(3) exempt private foundation 4947( a)(1) nonexempt charitale trust treated as a private foundation 501( c)(3) taxale private foundation Check if your organization is covered y the General Rule or a Special Rule. (Note : Only a section 501(c)(7), (8), or (10) organization can check oxes for oth the General Rule and a Special Rule-see instructions ) General Rule- For organizations filing Form 990, 990-EZ, or 990-PF that received, during the year, $5,000 or more (in money or property) from any one contriutor. (Complete Parts I and II ) Special Rules- 0 For a section 501 (c )(3) organization filing Form 990, or Form EZ, that met the 33 1/3% support test of the regulations under sections 509 ( a)(1)/170 ()(1)(A)(vl), and received from any one contriutor, during the year, a contriution of the greater of $5,000 or 2% of the amount on line 1 of these forms (Complete Parts I and II ) For a section 501(c )( 7), (8), or ( 10) organization filing Form 990, or Form 990-EZ, that received from any one contriutor, during the year, aggregate contriutions or equests of more than $ 1,000 for use exclusively for religious, charitale, scientific, literary, or educational purposes, or the prevention of cruelty to children or animals ( Complete Parts I, II, and III ) 0 For a section 501(c )( 7), (8), or ( 10) organization filing Form 990, or Form 990-EZ, that received from any one contriutor, during the year, some contriutions for use exclusively for religious, charitale, etc, purposes, ut these contriutions did not aggregate to more than $1,000 ( If this ox is checked, enter here the total contriutions that were received during the year for an exclusively religious, charitale, etc, purpose Do not complete any of the Parts unless the General Rule applies to this organization ecause it received nonexclusively religious, charitale, etc, contriutions of $5,000 or more during the year). $ Caution : Organizations that are not covered y the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF), ut they must check the ox in the heading of their Form 990, Form 990-EZ, or on line 2 of their Form 990-PF, to certify that they do not meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF) LHA For Paperwork Reduction Act Notice, see the Instructions Schedule B (Form 990, 990-EZ, or PF) (2007) for Form 990, Form 990-EZ, and Form 990-PF

15 Schedule B (Form 990, 990-EZ, or 990-PF)(2007) Name of organization FIRE STREAK MINISTRY Employer identification numer of I of Part Part I Contriutors (See Specific Instructions) (a) No. () Name, address, and ZIP + 4 (c) Aggregate contriutions (d) Type of contriution 1 ROBERT G. WATKINS Person If] Payroll 0 34 LONGVIEW ROAD $ 80,000. Noncash 0 E. FALLOWF I ELD, PA (Complete Part II if there is a noncash contriution ) (a) No. () Name, address, and ZIP + 4 (c) Aggregate contriutions (d) Type of contriution Person $ Payroll 0 Noncash (Complete Part II if there is a noncash contriution ) (a) No. () Name, address, and ZIP + 4 (c) Aggregate contriutions (d) Type of contriution $ Person 0 Payroll 0 Noncash 0 (Complete Part II if there is a noncash contriution) (a) No. () Name, address, and ZIP + 4 (c) Aggregate contriutions (d) Type of contriution Person 0 $ Payroll 0 Noncash 0 (Complete Part II if there is a noncash contriution J (a) No. () Name, address, and ZIP + 4 (c) Aggregate contriutions (d) Type of contriution $ Person Payroll 0 Noncash (Complete Part II if there is a noncash contriution (a) No. () Name, address, and ZIP + 4 (c) Aggregate contriutions (d) Type of contriution $ Person Payroll 0 Noncash 0 (Complete Part II if there is a noncash contriution ; Schedule B (Form 990, 990-EZ, or 990 -PF) (2007) 15

16 C/O ROBERT G. WATKI FORM 990-PF INTEREST ON SAVINGS AND TEMPORARY CASH INVESTMENTS STATEMENT 1 SOURCE AMOUNT PNC BANK 401. TOTAL TO FORM 990-PF, PART I, LINE 3, COLUMN A STATEMENT(S) 1