Name/Title
IRS Tax Exemption Question 10Entry/Object ID
001688Tags
William Bull and Sarah Wells Stone House AssociationScope and Content
The uploaded documents comprise a financial and historical statement for the William Bull and Sarah Wells Family Association, dated around July 1952. This appears to be a formal submission (likely for tax-exempt status, as it references "Form 1023") detailing the organization's purpose and assets.
Historical Significance
The Bull Stone House: The Association maintains what is described as the "oldest house in the region," located in the Town of Hamptonburgh, Orange County, N.Y.
Documentation: The house is cited in several historical texts, including Eager’s History of Orange County (1846-47) and Ruttenber & Clark’s History of Orange County (1881).
Purpose: The Association is non-profit and non-commercial. It exists solely to preserve the property and display historical artifacts related to the early life of the region. It does not collect membership dues.
Financial Overview (July 1951 – July 10, 1952)
The Association reported a modest but stable financial position, funded primarily through contributions and rental income.
Category Amount
Total Receipts $2,341.94
Total Disbursements (Maintenance, Taxes, 1951 Picnic) $1,393.63
Endowment Fund Balance (Held in Newburgh Savings Bank) $5,278.05
Total Assets (as of July 10, 1952): $16,917.76
The valuation includes:
Real Estate: The stone house and outbuildings ($8,000 assessed value).
Cash: Balances in Monroe and Newburgh banks.
Investments: 3 shares of Chester National Bank stock and a U.S. Series F Bond.
Liabilities: The Association reported zero liabilities.
Notable Details
Memorial Gifts: The endowment was bolstered by memorial donations from family members, including the Gregory, Mould, and Brush families.
Operating Costs: A significant portion of the annual budget ($551.40) was dedicated to the physical maintenance and repair of the historic stone house.
