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RICHARD DESICH FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
RICHARD DESICH FOUNDATION (EIN 26-4308958)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-05-15
IRS object ID
202441369349100614
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 ReturnHeader

FieldValueIRS element (for citing)
Return2024-05-15T09:36:14-04:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN341753699PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1RADACHI AND COMPANY CPASBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1900 EAST BROAD STREET SUITE AAddressLine1Txt
CityELYRIACityNm
State AbbreviationOHStateAbbreviationCd
ZIP44035ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN264308958EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1DESICH FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlDESIBusinessNameControlTxt
Phone4402925214PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 EQUITY WAYAddressLine1Txt
CityWESTLAKECityNm
State AbbreviationOHStateAbbreviationCd
ZIP44145ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRICHARD DESICHPersonNm
Person TitlePRES., DIR. SECPersonTitleTxt
Phone4402925214PhoneNum
Signature2024-05-14SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstRICHARDPersonFirstNm
Person LastDESICHPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRICHARD R RADACHIPreparerPersonNm
PTINP01350286PTIN
Phone4403653115PhoneNum
Preparation2024-05-15PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$8,678,972FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$6,766,807ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$8,413InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$8,413InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$8,413InterestOnSavingsAdjNetIncmAmt
Other Income Rev And Expnss-$1,000,431OtherIncomeRevAndExpnssAmt
Other Income Adj Net Incm-$1,000,431OtherIncomeAdjNetIncmAmt
Total Rev And Expnss$5,774,789TotalRevAndExpnssAmt
Total Net Invst Incm$8,413TotalNetInvstIncmAmt
Total Adj Net Incm-$992,018TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$291AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$291AccountingFeesChrtblPrpsAmt
Other Expenses Rev And Expnss$611,792OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$8,872OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$612,083TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$9,163TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$91,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$91,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$703,083TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$100,163TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$5,071,706ExcessRevenueOverExpensesAmt
Net Investment Income$8,413NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$7,983SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$218,297SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$218,297SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$3,599,283OtherInvestmentsBOYAmt
Other Investments EOY$8,460,675OtherInvestmentsEOYAmt
Other Investments EOYFMV$8,460,675OtherInvestmentsEOYFMVAmt
Total Assets BOY$3,607,266TotalAssetsBOYAmt
Total Assets EOY$8,678,972TotalAssetsEOYAmt
Total Assets EOYFMV$8,678,972TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$3,607,266NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$8,678,972NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$3,607,266TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$8,678,972TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,607,266TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$8,678,972TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,607,266TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$5,071,706ExcessRevenueOverExpensesAmt
Subtotal$8,678,972SubtotalAmt
Tot Net Ast Or Fund Balances EOY$8,678,972TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$117InvestmentIncomeExciseTaxAmt
Subtotal$117SubtotalAmt
Tax Based On Investment Income$117TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$74EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$74TotalPaymentsAndCreditsAmt
Tax Due$43TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksRICHARD DESICHIndividualWithBooksNm
Phone4402925214PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11 EQUITY WAYAddressLine1Txt
CityWESTLAKECityNm
State AbbreviationOHStateAbbreviationCd
ZIP44145ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JEFFREY A DESICH
1 EQUITY WAYWESTLAKEOH44145V.P.1.00$0$0$0
RICHARD DESICH
1 EQUITY WAYWESTLAKEOH44145PRES., DIR.1.00$0$0$0
RICHARD A DESICH
1 EQUITY WAYWESTLAKEOH44145V.P.1.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$157,146AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$8,131,359FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$8,288,505TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$8,288,505AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$124,328CashDeemedCharitableAmt
Net Vl Noncharitable Assets$8,164,177NetVlNoncharitableAssetsAmt
Minimum Investment Return$408,209MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$408,209MinimumInvestmentReturnAmt
Tax Based On Investment Income$117TaxBasedOnInvestmentIncomeAmt
Total Tax$117TotalTaxAmt
Distributable Before Adj$408,092DistributableBeforeAdjAmt
Distributable Before Ded$408,092DistributableBeforeDedAmt
Distributable As Adjusted$408,092DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$100,163ExpensesAndContributionsAmt
Qualifying Distributions$100,163QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$408,092DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$442,383ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$401,740ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$390,975ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$837,613ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$2,072,711TotalExcessDistributionCyovAmt
Qualifying Distributions$100,163QualifyingDistributionsAmt
Applied To Current Year$100,163AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$307,929ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$307,929ExcessDistributionCyovAppCYAmt
Total Corpus$1,764,782TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$134,454ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,630,328ExcessDistriCyovToNextYrAmt
Excess From Year4$401,740ExcessFromYear4Amt
Excess From Year3$390,975ExcessFromYear3Amt
Excess From Year2$837,613ExcessFromYear2Amt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerRICHARD DESICHContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
GOVERNOR DUMMER ACADEMY
1 ELM STBYFIELDMA01922ANNUAL FUND$50,000
BOYS & GIRLS CLUBS OF PALM BEACH
800 NORTHPOINT PKWY 204WEST PALM BEACHFL33407GREATUR FUTURES POLO BRONZE BENEFACT$5,000
COMMUNITY FDN OF LORAIN COUNTY
9080 LEAVITT RDELYRIAOH44035GENERAL SUPPORT$1,000
AMERICAN HEART ASSOC
1375 E 9TH ST STE 600CLEVELANDOH44114CLEVELAND HEART WALK$10,000
SUNDANCE INSTITUTE
P O BOX 684429PARK CITYUT84068SUNDANCE INSTITUTE CONTRIBUTION$25,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$91,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$8,413ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescPARTNERSHIPSDesc
Related Or Exempt Function Incm-$1,000,431RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$8,413ExclusionAmt
Related Or Exempt Function Incm-$1,000,431RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty-$992,018TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (3 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtAddress Line2ContributorUSAddress/AddressLine2TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
RICHARD DESICH
1200 DORADO BEACH DRAPT 3632DORADOPR00646$2,731,807Yes (X)
RICHARD A DESICH
212502 WORLD CUP LANEWELLINGTONFL33414$2,010,000Yes (X)
JEFFREY A DESICH
312521 CYPRESS ISLAND WAYWELLINGTONFL33414$2,025,000Yes (X)

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT ACCOUNTING FEESCategoryTxt
Amt$291Amt
Disbursements Charitable Prps$291DisbursementsCharitablePrpsAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (2 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
PACIFIC LIFE - POLICY VF5191FMV$3,671,269$3,671,269
TT FAMILY 1891 W JOHNSON LLCAT COST$4,789,406$4,789,406

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (5 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
ADMINISTRATIVE FEES$7,842$7,842
LIFE INSURANCE PREMIUM$602,920
STATE OR LOCAL FILING FEE$25$25
BANK CHARGES$1,005$1,005

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescPARTNERSHIPSDesc
Revenue And Expenses Per Books-$1,000,431RevenueAndExpensesPerBooksAmt
Adjusted Net Income-$1,000,431AdjustedNetIncomeAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCd
RICHARD A DESICH
12502 WORLD CUP LANEWELLINGTONFL33414
JEFFREY A DESICH
12521 CYPRESS ISLAND WAYWELLINGTONFL33414

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