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SAUNDERS FAMILY CHARITABLE FUND: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
SAUNDERS FAMILY CHARITABLE FUND (EIN 68-0616611)
Tax period
2022-01-01 to 2022-12-31
Filed
2024-05-30
IRS object ID
202431519349100513
Schema version
2022v5.0
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)
Return2024-05-30T16:54:03-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN371852224PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CAL ACCOUNTINGBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line126335 CARMEL RANCHO BLVD SUITE 9AddressLine1Txt
CityCARMELCityNm
State AbbreviationCAStateAbbreviationCd
ZIP93923ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN680616611EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SAUNDERS FAMILY CHARITABLE FUNDBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlSAUNBusinessNameControlTxt
Phone4157300057PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1765 MARKET ST SUITE 24DAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94103ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOSEPH W SAUNDERSPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone4157300057PhoneNum
Signature2024-05-30SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJOEPersonFirstNm
Person LastSAUNDERSPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCHRISTOPHER LOCKEPreparerPersonNm
PTINP01541040PTIN
Phone8312750084PhoneNum
Preparation2024-05-30PreparationDt
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,028,052FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$12,500ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$129InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$129InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$129InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$63,941DividendsRevAndExpnssAmt
Dividends Net Invst Incm$63,941DividendsNetInvstIncmAmt
Dividends Adj Net Incm$63,941DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$98,042NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$989,283GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$3,938CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$174,612TotalRevAndExpnssAmt
Total Net Invst Incm$68,008TotalNetInvstIncmAmt
Total Adj Net Incm$64,070TotalAdjNetIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$10,000CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$5,000CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$5,000CompOfcrDirTrstDsbrsChrtblAmt
Accounting Fees Rev And Expnss$16,561AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$8,281AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$8,280AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$2,799TaxesRevAndExpnssAmt
Taxes Net Invst Incm$2,799TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$36,243OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$6,243OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$65,603TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$22,323TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$13,280TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$493,967ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$493,967ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$559,570TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$22,323TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$507,247TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$384,958ExcessRevenueOverExpensesAmt
Net Investment Income$45,685NetInvestmentIncomeAmt
Adjusted Net Income$64,070AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$57,512CashBOYAmt
Cash EOY$43,613CashEOYAmt
Cash EOYFMV$43,615CashEOYFMVAmt
Corporate Stock BOY$1,002,763CorporateStockBOYAmt
Corporate Stock EOY$798,180CorporateStockEOYAmt
Corporate Stock EOYFMV$2,384,959CorporateStockEOYFMVAmt
Corporate Bonds BOY$729,513CorporateBondsBOYAmt
Corporate Bonds EOY$600,437CorporateBondsEOYAmt
Corporate Bonds EOYFMV$528,950CorporateBondsEOYFMVAmt
Other Investments BOY$109,511OtherInvestmentsBOYAmt
Other Investments EOY$72,111OtherInvestmentsEOYAmt
Other Investments EOYFMV$70,528OtherInvestmentsEOYFMVAmt
Total Assets BOY$1,899,299TotalAssetsBOYAmt
Total Assets EOY$1,514,341TotalAssetsEOYAmt
Total Assets EOYFMV$3,028,052TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$1,899,299NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$1,514,341NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$1,899,299TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,514,341TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,899,299TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,514,341TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,899,299TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$384,958ExcessRevenueOverExpensesAmt
Subtotal$1,514,341SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,514,341TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$3,938CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$635InvestmentIncomeExciseTaxAmt
Subtotal$635SubtotalAmt
Tax Based On Investment Income$635TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$27EsPenaltyAmt
Tax Due$662TaxDueAmt

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
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1CHRIS LOCKE CPABusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8312750084PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line126335 CARMEL RANCHO BLVD SUITE 9AddressLine1Txt
CityCARMELCityNm
State AbbreviationCAStateAbbreviationCd
ZIP93923ZIPCd
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 (5 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JOSEPH W SAUNDERS
765 MARKET STREET 24DSAN FRANCISCOCA94103PRESIDENT2.00$0$0$0
SHARON P SAUNDERS
765 MARKET STREET 24DSAN FRANCISCOCA94103VICE-PRESIDE2.00$0$0$0
CHRISTINE SAUNDERS
765 MARKET STREET 24DSAN FRANCISCOCA94103VICE-PRESIDE2.00$5,000$0$0
THOMAS J SAUNDERS
765 MARKET STREET 24DSAN FRANCISCOCA94103VICE-PRESIDE2.00$5,000$0$0
JOHN N STAPLES III ESQ
215 W FRANKLIN ST 5TH FLOORMONTEREYCA93940SECRETARY2.00$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$3,174,984AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$50,564AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$93,388FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,318,936TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$3,318,936AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$49,784CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,269,152NetVlNoncharitableAssetsAmt
Minimum Investment Return$163,458MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$163,458MinimumInvestmentReturnAmt
Tax Based On Investment Income$635TaxBasedOnInvestmentIncomeAmt
Total Tax$635TotalTaxAmt
Distributable Before Adj$162,823DistributableBeforeAdjAmt
Distributable Before Ded$162,823DistributableBeforeDedAmt
Distributable As Adjusted$162,823DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$507,247ExpensesAndContributionsAmt
Qualifying Distributions$507,247QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$162,823DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$591,052ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$592,346ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$592,346ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$146,121ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$688,110ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$2,609,975TotalExcessDistributionCyovAmt
Qualifying Distributions$507,247QualifyingDistributionsAmt
Applied To Current Year$162,823AppliedToCurrentYearAmt
Remaining Distri From Corpus$344,424RemainingDistriFromCorpusAmt
Total Corpus$2,954,399TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$591,052ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$2,363,347ExcessDistriCyovToNextYrAmt
Excess From Year4$592,346ExcessFromYear4Amt
Excess From Year3$592,346ExcessFromYear3Amt
Excess From Year2$146,121ExcessFromYear2Amt
Excess From Year1$688,110ExcessFromYear1Amt
Excess From Current Year$344,424ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonHELEN BURROWSRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1765 MARKET STREET SUITE 24DAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94103ZIPCd
FieldValueIRS element (for citing)
Recipient Phone6508679385RecipientPhoneNum
Recipient Email AddressSAUNDERSHOMEOFFICE@GMAIL.COMRecipientEmailAddressTxt
Form And Info And MaterialsIN WRITINGFormAndInfoAndMaterialsTxt
Submission DeadlinesNONESubmissionDeadlinesTxt
Restrictions On AwardsPREFERENCE TO EDUCATIONAL PURPOSESRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
NORTHWESTERN UNIVERSITY
633 CLARK STREETEVANSTONIL60208EDUCATION$16,000
YOUTH ALIVE
3300 ELM STREETOAKLANDCA94609GENERAL PURPOSES$50,000
NORTH BAY CHILDREN'S CENTER
932 C STREETNOVATOCA94949GENERAL PURPOSES$25,000
GUARDIAN TRAINING
3007 SACRAMENTO STREETBERKELEYCA94702EDUCATION$25,000
HAWAIIAN ISLANDS LAND TRUST
126 QUEEN STREETHONOLULUHI96813GENERAL PURPOSES$50,000SUITE 306
THE BASIC FUND
1301 CLAY STREET 70450OAKLANDCA94612GENERAL PURPOSES$40,000
SPARE FOR CHANGE
576 KAIOLA STREETKIHEIHI96753GENERAL PURPOSES$10,000
THE BAY EDUCATION FUND
1616 FRANKLIN ST FL 2OAKLANDCA94612GENERAL PURPOSES$250,000
MARINE CORPS SCHOLARSHIP FUND
909 N WASHINGTON STREETALEXANDRIAVA22314SCHOLARSHIPS$10,000SUITE 400
UNIVERSITY OF HAWAII
3444 DOLE STREETHONOLULUHI96822SCHOLARSHIPS$17,967
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$493,967TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$129RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$63,941RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$98,042RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$162,112RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$162,112TotalIncomeProducingActyAmt

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

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT ACCOUNTING FEESCategoryTxt
Amt$16,561Amt
Net Investment Income$8,281NetInvestmentIncomeAmt
Disbursements Charitable Prps$8,280DisbursementsCharitablePrpsAmt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (2 entries)

AssetAssetDescHow AcquiredHowAcquiredTxtGross Sales PriceGrossSalesPriceAmtBasisBasisAmtTotal NetTotalNetAmt
ST COVERED JP MORGANPURCHASE$274,925$291,146-$16,221
LT COVERED JP MORGANPURCHASE$710,420$600,095$110,325

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp

FieldValueIRS element (for citing)
BondFIXED INCOME INVESTMENTSBondNm
EOY Book Value$600,437EOYBookValueAmt
EOYFMV$528,950EOYFMVAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSTOCKS HELDStockNm
EOY Book Value$798,180EOYBookValueAmt
EOYFMV$2,384,959EOYFMVAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

FieldValueIRS element (for citing)
Category Or ItemALTERNATIVE INVESTMENTSCategoryOrItemTxt
Listed At Cost Or FMVAT COSTListedAtCostOrFMVCd
Book Value$72,111BookValueAmt
EOYFMV$70,528EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
ADMINISTRATIVE ASSISTANT$30,000
INVESTMENT MANAGEMENT FEES$6,243$6,243

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationFOUNDATIONS PRIOR CPA PASSED AWAY AND HAD KEPT ALL THE RECORDS REQUIRED FOR THE BOOKKEEPING. IT HAS TAKEN SOME TIME TO PUT TOGETHER EVERYTHING NECESSARY TO FILE THE RETURN. WE ARE REQUESTING AN ABATEMENT OF THE FAILURE TO FILE PENALTY BASED ON THE ABOVE REASONABLE CAUSE. ADDITIONALLY, WE RESPECTFULLY REQUEST THAT THE FAILURE TO FILE PENALTY BE ABATED BASED ON THE IRS'S FIRST TIME ABATE ADMINISTRATIVE WAIVER PROCEDURES, AS DISCUSSED IN IRM 20.1.1.3.6.1, FIRST TIME ABATE (FTA). TAXPAYER MEETS FIRST-TIME PENALTY ABATEMENT CRITERIA ACCORDING TO IRM 20.1.1.3.6, THE IRS'S REASONABLE CAUSE ASSISTANT PROVIDES AN OPTION FOR PENALTY RELIEF FOR FAILURE-TO-FILE, FAILURE-TO-PAY, AND FAILURE-TO-DEPOSIT PENALTIES IF THE TAXPAYER MEETS CERTAIN CRITERIA. THE TAXPAYER MEETS ALL OF THE FIRST-TIME PENALTY ABATEMENT CRITERIA AS STATED BELOW: "FILING COMPLIANCE: MUST HAVE FILED (OR FILED A VALID EXTENSION FOR) ALL REQUIRED RETURNS AND CAN'T HAVE AN OUTSTANDING REQUEST FOR A RETURN FROM THE IRS. "PAYMENT COMPLIANCE: MUST HAVE PAID, OR ARRANGED TO PAY ALL TAX DUE (CAN BE IN AN INSTALLMENT AGREEMENT AS LONG AS THE PAYMENTS ARE CURRENT). "CLEAN PENALTY HISTORY: HAS NO PRIOR PENALTIES (EXCEPT AN ESTIMATED TAX PENALTY) FOR THE PRECEDING THREE YEARS.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT TAXES/LICENSESCategoryTxt
Amt$2,799Amt
Net Investment Income$2,799NetInvestmentIncomeAmt

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