KAPILA FAMILY FOUNDATION INC: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: KAPILA FAMILY FOUNDATION INC (EIN 20-8096516)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-05-07
IRS object ID: 202421289349102452
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
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-05-07T06:57:55-07:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	465394135	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	KapilaMukamal LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1000 S Federal Highway 200	AddressLine1Txt
City	Fort Lauderdale	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33316	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	208096516	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	THE KAPILA FAMILY FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	KAPI	BusinessNameControlTxt
Phone	9547611011	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1000 S FEDERAL HIGHWAY 200	AddressLine1Txt
City	FT LAUDERDALE	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33316	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	SONEET KAPILA	PersonNm
Person Title	President & CEO	PersonTitleTxt
Signature	2024-05-07	SignatureDt
Discuss With Paid Preparer	false	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	SONEET	PersonFirstNm
Person Last	KAPILA	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	LESLEY J JOHNSON	PreparerPersonNm
PTIN	P01079089	PTIN
Phone	9547611011	PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd
Federated Assurance Level	FAL1	FederatedAssuranceLevelCd

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	$0	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Dividends Rev And Expnss	$209,924	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$209,924	DividendsNetInvstIncmAmt
Dividends Adj Net Incm	$209,924	DividendsAdjNetIncmAmt
Total Rev And Expnss	$209,924	TotalRevAndExpnssAmt
Total Net Invst Incm	$209,924	TotalNetInvstIncmAmt
Total Adj Net Incm	$209,924	TotalAdjNetIncmAmt
Taxes Rev And Expnss	$1,879	TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$1,879	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$213,736	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$213,736	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$215,615	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$213,736	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$5,691	ExcessRevenueOverExpensesAmt
Net Investment Income	$209,924	NetInvestmentIncomeAmt
Adjusted Net Income	$209,924	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$4,245,213	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$4,239,522	SavAndTempCashInvstEOYAmt
Total Assets BOY	$4,245,213	TotalAssetsBOYAmt
Total Assets EOY	$4,239,522	TotalAssetsEOYAmt
Total Assets EOYFMV	$0	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY	$4,245,213	NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY	$4,239,522	NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY	$4,245,213	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$4,239,522	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$4,245,213	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$4,239,522	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$4,245,213	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$5,691	ExcessRevenueOverExpensesAmt
Subtotal	$4,239,522	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$4,239,522	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$2,918	InvestmentIncomeExciseTaxAmt
Subtotal	$2,918	SubtotalAmt
Tax Based On Investment Income	$2,918	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$920	EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits	$920	TotalPaymentsAndCreditsAmt
Tax Due	$1,998	TaxDueAmt
Applied To ES Tax	$0	AppliedToESTaxAmt

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
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
Website Address	N/A	WebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	SONEET R KAPILA	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	9547611011	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	1000 S FEDERAL HIGHWAY SUITE 200	AddressLine1Txt
City	FT LAUDERDALE	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33316	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
Acts Fail To Qlfy As Exceptions	false	ActsFailToQlfyAsExceptionsInd
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 (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt
SONEET R KAPILA
2420 DEL LAGO DRIVE	FT LAUDERDALE	FL	33316	President & CEO	0.00	$0
PRABODH K KAPILA
2420 DEL LAGO DRIVE	FT LAUDERDALE	FL	33316	Director	0.00	$0
RAVI P KAPILA
2420 DEL LAGO DRIVE	FT LAUDERDALE	FL	33316	Director	0.00	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$4,312,388	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$4,312,388	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast	$4,312,388	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$64,686	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$4,247,702	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$212,385	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$212,385	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$2,918	TaxBasedOnInvestmentIncomeAmt
Total Tax	$2,918	TotalTaxAmt
Distributable Before Adj	$209,467	DistributableBeforeAdjAmt
Distributable Before Ded	$209,467	DistributableBeforeDedAmt
Distributable As Adjusted	$209,467	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$213,736	ExpensesAndContributionsAmt
Qualifying Distributions	$213,736	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$209,467	DistributableAsAdjustedAmt
Undistributed Income PY	$213,336	UndistributedIncomePYAmt
Qualifying Distributions	$213,736	QualifyingDistributionsAmt
Applied To Year1	$213,336	AppliedToYear1Amt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$400	AppliedToCurrentYearAmt
Undistributed Income CY	$209,067	UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	SONEET R KAPILA	ContributingManagerNm
Contributing Manager	PRABODH K KAPILA	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (26 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
Friends of WLRN Inc
172 NE 15th Street	Miami	FL	33131	PC	support public radio	$5,000
National Parkinson Foundation
200 SE 1st St Suite 800	Miami	FL	33131	PC	medical research	$2,000
Broward Performing Arts Foundation
201 SW Fifth Avenue	Fort Lauderdale	FL	33312	PC	support performing arts	$172,000
South Florida Hindu Temple
3310 NE 57th Court	Fort Lauderdale	FL	33308	PC	church/temple	$3,000
HILLSBOROUGH COUNTY BAR FOUNDATION
1610 North Tampa Street	Tampa	FL	33602	PC	community organization	$500
ABI Endowment Fund
66 Canal Center Plaza Suite 600	Alexandria	VA	22314	PC	endowment fund	$5,000
STETSON UNIVERSITY COLLEGE OF LAW
1401 61ST STREET S	GULFPORT	FL	33707	PC	scholarships	$5,000
American College of Bankruptcy Fdn
P O Box 249	Stanardsville	VA	22973	PC	endowment fund	$2,111
Bankruptcy Bar Foundation
7154 NUniversity Drive 299	Tamarac	FL	33321	PC	community organization	$500
Bankruptcy Law Education Series Fdn
329 Park Avenue N 2nd Floor	Winter Park	FL	32789	PC	education	$250
Educate Tomorrow
1717 NBayshore Dr 203	Miami	FL	33132	PC	education	$1,500
Sheridan House Family Ministries
1700 S Flamingo Road	Davie	FL	33325	PC	community outreach	$2,500
Students for Liberty
2221 S Clark Street 12th Floor	Arlington	VA	22202	PC	community organization	$2,000
Indian Regional & Cultural Center
13792 N GARDEN COVE CIRCLE	DAVIE	FL	33325	PC	community organization	$425
Bay Area Legal Services
1302 N 19TH STREET SUITE 400	TAMPA	FL	33605	PC	community services	$250
Give Directly
P O Box 3221	New York	NY	10008	PC	community service	$2,000
Alex's Lemonade Stand Foundation
333 E Lancaster Ave 414	Wynnewood	PA	19096	PF	medical research	$1,000
Kozyak Minority Mentoring Foundatio
2525 Ponce de Leon 9th Floor	Coral Gables	FL	33134	PF	community organization	$250
The Optimist Club of Cooper City In
10500 Stirling Road	Cooper City	FL	33026	PF	community organization - children's sports	$500
Alzheimer's Association SE Fla Chap
100 W Cypress Creek Road Ste 1046	Fort Lauderdale	FL	33309	PC	medical research	$500
Friends of PMBL
216 Christian Street	Philadelphia	PA	19147	PC	public services	$200
Ft Lauderdale Historical Society
219 SW 2nd Avenue	Fort Lauerdale	FL	33301	PF	historical society	$150
Joe DiMaggio Children's Hospital Fd
3329 Johnson Street	Hollywood	FL	33021	POF	medical services	$100
Legal Services of Greater Miami Inc
4343 W Flagler Street 100	Miami	FL	33134	PC	public services	$500
Palm Beach India Assoc Inc
2126 Milao Court	Palm Beach Gardens	FL	33418	PC	public service	$2,500
Vision-Aid Inc
8 VIne Brook Road	Lexington	MA	02421	PC	medical research	$4,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$213,736	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$209,924	RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$209,924	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$209,924	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

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxt	AmtAmt
2022 TAX	$898
2023 PREPAID TAX	$920
CORPORATION ANNUAL REPORT	$61

KAPILA FAMILY FOUNDATION INC: Form 990PF, tax year 2023

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Preparer Person PreparerPersonGrp

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Persons With Books Name PersonsWithBooksName

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

PF Qualifying Distributions PFQualifyingDistributionsGrp

Undistributed Income UndistributedIncomeGrp

Supplementary Information SupplementaryInformationGrp

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (26 entries)

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

Comments