NAZARETH & NILA FESTEKJIAN FAMILY FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: NAZARETH & NILA FESTEKJIAN FAMILY FOUNDATION (EIN 20-8679656)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-04-04
IRS object ID: 202440959349101109
Schema version: 2023v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Depreciation Schedule
Investments Corp Stock Schedule
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-04-04T15:27:21-05:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	Foundation Source	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	3333 New Hyde Park Rd Ste 406	AddressLine1Txt
City	New Hyde Park	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	11042	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2023-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	208679656	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Nazareth & Nila Festekjian Family Foundation	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
In Care Of	% Foundation Source	InCareOfNm
Business Name Control	NAZA	BusinessNameControlTxt
Phone	8008391754	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	Foundation Source 501 Silverside Rd	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	DE	StateAbbreviationCd
ZIP	198091377	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	NAZARETH FESTEKJIAN	PersonNm
Person Title	PRESIDENT	PersonTitleTxt
Phone	8008391754	PhoneNum
Signature	2024-03-26	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	NAZARETH	PersonFirstNm
Person Last	FESTEKJIAN	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Jeffrey D Haskell	PreparerPersonNm
PTIN	P01345770	PTIN
Phone	8008391754	PhoneNum

Additional Filer Information AdditionalFilerInformation

Field	Value	IRS element (for citing)
Trusted Customer		TrustedCustomerGrp

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$1,690,680	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$0	ContriRcvdRevAndExpnssAmt
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$8,366	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$8,366	InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss	$32,720	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$32,720	DividendsNetInvstIncmAmt
Gross Sales Price	$441,790	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$41,086	TotalRevAndExpnssAmt
Total Net Invst Incm	$41,086	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$0	CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss	$773	TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss	$4,075	OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl	$4,075	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$4,848	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$4,075	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$82,500	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$82,500	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$87,348	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$86,575	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$46,262	ExcessRevenueOverExpensesAmt
Net Investment Income	$41,086	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$71,885	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$270,011	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$270,011	SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY	$244,388	USGovernmentObligationsBOYAmt
Corporate Stock BOY	$1,162,825	CorporateStockBOYAmt
Corporate Stock EOY	$1,162,825	CorporateStockEOYAmt
Corporate Stock EOYFMV	$1,420,669	CorporateStockEOYFMVAmt
Total Assets BOY	$1,479,098	TotalAssetsBOYAmt
Total Assets EOY	$1,432,836	TotalAssetsEOYAmt
Total Assets EOYFMV	$1,690,680	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$1,479,098	RetainedEarningBOYAmt
Retained Earning EOY	$1,432,836	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$1,479,098	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$1,432,836	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$1,479,098	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$1,432,836	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$1,479,098	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$46,262	ExcessRevenueOverExpensesAmt
Subtotal	$1,432,836	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$1,432,836	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

Field	Value	IRS element (for citing)
Property	Publicly-traded Securities	PropertyDesc
Gross Sales Price	$441,790	GrossSalesPriceAmt
Cost Or Other Basis	$441,790	CostOrOtherBasisAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$571	InvestmentIncomeExciseTaxAmt
Subtotal	$571	SubtotalAmt
Tax Based On Investment Income	$571	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$400	EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce	$0	ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits	$400	TotalPaymentsAndCreditsAmt
Form2220 Attached	Yes (X)	Form2220AttachedInd
Es Penalty	$0	EsPenaltyAmt
Tax Due	$171	TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	DE	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	Foundation Source	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8008391754	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	501 Silverside Road Suite 123	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	DE	StateAbbreviationCd
ZIP	198091377	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
Nazareth A Festekjian
Foundation Source 501 Silverside Rd	Wilmington	DE	198091377	Pres, Dir, Sec	1.0	$0	$0	$0
Nila Festekjian
Foundation Source 501 Silverside Rd	Wilmington	DE	198091377	VP	1.0	$0	$0	$0

Field	Value	IRS element (for citing)
Summary Of Direct Chrtbl Acty		SummaryOfDirectChrtblActyGrp
Sum Of Program Related Invst		SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$1,384,497	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$175,590	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$1,560,087	TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$1,560,087	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$23,401	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$1,536,686	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$76,834	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$76,834	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$571	TaxBasedOnInvestmentIncomeAmt
Total Tax	$571	TotalTaxAmt
Distributable Before Adj	$76,263	DistributableBeforeAdjAmt
Distributable Before Ded	$76,263	DistributableBeforeDedAmt
Distributable As Adjusted	$76,263	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$86,575	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid	$0	CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test	$0	SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test	$0	SetAsideCashDistriTestAmt
Qualifying Distributions	$86,575	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$76,263	DistributableAsAdjustedAmt
Undistributed Income PY	$85,829	UndistributedIncomePYAmt
Prior Year1	2021	PriorYear1Yr
Prior Year2	2020	PriorYear2Yr
Prior Year3	2019	PriorYear3Yr
Qualifying Distributions	$86,575	QualifyingDistributionsAmt
Applied To Year1	$85,829	AppliedToYear1Amt
Applied To Current Year	$746	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$0	RemainingDistriFromCorpusAmt
Total Corpus	$0	TotalCorpusAmt
Undistributed Income CY	$75,517	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$0	ExcessDistriCyovToNextYrAmt
Excess From Current Year	$0	ExcessFromCurrentYearAmt

Field	Value	IRS element (for citing)
Private Operating Foundations		PrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	Nazareth A Festekjian	ContributingManagerNm
Contributing Manager	Nila Festekjian	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (13 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
AMERICAN UNIVERSITY OF BEIRUT
3 DAG HAMMARSKJOLD PLZ 8TH FLOOR	NEW YORK	NY	10017	N/A	PC	Armenian Student in need Scholarship Fund	$1,000
ARMENIAN AMERICAN HEALTHPROFESSIONALS ORGANIZATION
PO BOX 645	FAR HILLS	NJ	07931	N/A	PC	General & Unrestricted	$1,000
ARMENIAN GENERAL BENEVOLENT UNION
55 EAST 59TH ST	NEW YORK	NY	10022	N/A	PC	Charitable Event	$10,000
ARMENIAN GENERAL BENEVOLENT UNION
55 E 59TH ST	NEW YORK	NY	10022	N/A	PC	Artoun & Alice Festekjian Endowment Fund	$10,000
ARMENIAN GENERAL BENEVOLENT UNION
55 E 59TH ST	NEW YORK	NY	10022	N/A	PC	APRI, General Puropose, & NYSEC	$37,500
ARMENIAN MISSIONARY ASSOC OF AMER INC
31 W CENTURY RD	PARAMUS	NJ	07652	N/A	PC	Eugene & Nazeli Ekmekji Endowment Fund	$2,500
DIOCESE OF THE ARMENIAN CHURCH OF AMERICA
630 2ND AVE	NEW YORK	NY	10016	N/A	PC	Annual Appeal Fund	$2,500
ENGLEWOOD HOSPITAL AND MEDICAL CENTER FOUNDATION I
350 ENGLE ST	ENGLEWOOD	NJ	07631	N/A	PC	Charitable Event	$2,500
NORTHWESTERN UNIVERSITY - KELLOGG SCHOOL OF MANAGE
1007 CHURCH ST STE 400	EVANSTON	IL	60201	N/A	PC	Scholarship Fund	$2,500
ST THOMAS ARMENIAN CHURCH
P O BOX 53	TENAFLY	NJ	07670	N/A	PC	General & Unrestricted	$1,000
TEKEYAN CULTURAL ASSOCIATION INC
755 MT AUBURN ST	WATERTOWN	MA	02472	N/A	PC	Charitable Event	$5,000
THE ARMENIAN EYECARE PROJECT
100 W FOOTHILL BLVD STE 203	SAN DIMAS	CA	91773	N/A	PC	General & Unrestricted	$1,000
VEM USA INC
400 N BRAND BLVD STE 750	GLENDALE	CA	91203	N/A	PC	General & Unrestricted	$6,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$82,500	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Field	Value	IRS element (for citing)
Fees Contracts From Govt Ag		FeesContractsFromGovtAgGrp
Membership Dues And Assmnt		MembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$8,366	ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$32,720	ExclusionAmt

Field	Value	IRS element (for citing)
Net Rntl Incm Re Debt Fincd Prop		NetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd Prop		NetRntlIncmReNotDebtFincdProp
Net Rental Income Personal Prop		NetRentalIncomePersonalPropGrp
Other Investment Income		OtherInvestmentIncomeGrp
Gain Sales Ast Oth Than Invntry		GainSalesAstOthThanInvntryGrp
Net Income Loss From Special Evt		NetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of Invntry		GrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Exclusion	$41,086	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$41,086	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
CAPITAL ONE FINANCIAL CORP	$76,499	$170,456
CITIGROUP INC	$282,125	$205,760
GURU ORGANIC ENERGY CORP	$458,125	$49,059
MOODYS CORP	$111,135	$585,840
TRAVELERS COMPANIES INC	$234,941	$409,554

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees	$4,050	$4,050
State or Local Filing Fees	$25	$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxt	AmtAmt
990-PF Estimated Tax for 2023	$400
990-PF Excise Tax for 2022	$373