ERNEST C AND MARION R KARRAS FAMILY FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
ERNEST C AND MARION R KARRAS FAMILY FOUNDATION (EIN 27-1530381)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-06-25
IRS object ID
202401779349100760
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)
Return2024-06-25T14:11:13-04:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN362946234PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BARRY A SWARTZ AND ASSOCIATES LTDBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1540 FRONTAGE RD STE 2133AddressLine1Txt
CityNORTHFIELDCityNm
State AbbreviationILStateAbbreviationCd
ZIP60093ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN271530381EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ERNEST C & MARION R KARRAS FAMILYBusinessNameLine1Txt
Business Name Line2FOUNDATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlERNEBusinessNameControlTxt
Phone6302485418PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line175 FOREST GATE CIRCLEAddressLine1Txt
CityOAK BROOKCityNm
State AbbreviationILStateAbbreviationCd
ZIP60523ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonERNEST KARRASPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone6302485418PhoneNum
Signature2024-06-18SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstERNESTPersonFirstNm
Person LastKARRASPersonLastNm
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 PersonBARRY A SWARTZPreparerPersonNm
PTINP00057409PTIN
Phone3128060000PhoneNum
Preparation2024-06-25PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,111,413FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$100,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$1,482InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,482InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$1,482InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$4,543DividendsRevAndExpnssAmt
Dividends Net Invst Incm$4,543DividendsNetInvstIncmAmt
Dividends Adj Net Incm$4,543DividendsAdjNetIncmAmt
Total Rev And Expnss$106,025TotalRevAndExpnssAmt
Total Net Invst Incm$6,025TotalNetInvstIncmAmt
Total Adj Net Incm$6,025TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$300LegalFeesRevAndExpnssAmt
Taxes Rev And Expnss$15TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$322OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$637TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$59,700ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$59,700ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$60,337TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$59,700TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$45,688ExcessRevenueOverExpensesAmt
Net Investment Income$6,025NetInvestmentIncomeAmt
Adjusted Net Income$6,025AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$401,598CashBOYAmt
Cash EOY$159,204CashEOYAmt
Cash EOYFMV$159,204CashEOYFMVAmt
Corporate Stock BOY$664,128CorporateStockBOYAmt
Corporate Stock EOY$952,209CorporateStockEOYAmt
Corporate Stock EOYFMV$952,209CorporateStockEOYFMVAmt
Total Assets BOY$1,065,726TotalAssetsBOYAmt
Total Assets EOY$1,111,413TotalAssetsEOYAmt
Total Assets EOYFMV$1,111,413TotalAssetsEOYFMVAmt
Other Liabilities BOY$1OtherLiabilitiesBOYAmt
Total Liabilities BOY$1TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,065,725RetainedEarningBOYAmt
Retained Earning EOY$1,111,413RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,065,725TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,111,413TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,065,726TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,111,413TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,065,725TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$45,688ExcessRevenueOverExpensesAmt
Subtotal$1,111,413SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,111,413TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$84InvestmentIncomeExciseTaxAmt
Subtotal$84SubtotalAmt
Tax Based On Investment Income$84TaxBasedOnInvestmentIncomeAmt
Tax Due$84TaxDueAmt

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
Individual With BooksERNEST KARRASIndividualWithBooksNm
Phone6302485418PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line175 FOREST GATE CIRCLEAddressLine1Txt
CityOAK BROOKCityNm
State AbbreviationILStateAbbreviationCd
ZIP60522ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ERNEST KARRAS
75 FOREST GATE CIRCLEOAK BROOKIL60523TRUSTEE0.00$0$0$0
MARION KARRAS
75 FOREST GATE CIRCLEOAK BROOKIL60523TRUSTEE0.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1TO HELP RELIGIOUS AND EDUCATIONAL ORGANIZATIONSDescription1Txt

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$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$59,700ExpensesAndContributionsAmt
Qualifying Distributions$59,700QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$59,700QualifyingDistributionsAmt
Remaining Distri From Corpus$59,700RemainingDistriFromCorpusAmt
Total Corpus$59,700TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonERNEST KARRASRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line175 FOREST GATE CIRCLEAddressLine1Txt
CityOAK BROOKCityNm
State AbbreviationILStateAbbreviationCd
ZIP60522ZIPCd
FieldValueIRS element (for citing)
Recipient Phone6032485418RecipientPhoneNum
Recipient Email AddressINFO@SWARTZMGMT.COMRecipientEmailAddressTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (16 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtBusiness Name Line2RecipientBusinessName/BusinessNameLine2TxtAddress Line2RecipientUSAddress/AddressLine2Txt
ASSUMPTION CHURCH
601 S CENTRALCHICAGOIL60644CHURCH$5,000
BENET ACADEMY
2200 MAPLELISLEIL60532ACADEMIC$10,000
GREEK AMERICAN REHAB
220 FIRST STREETWHEELINGIL60090REHAB AND PATIENT CARE$1,000AND CARE CENTRE
HOLY APOSTLES CHURCH
2501 S WOLF ROADWESTCHESTERIL60154CHURCH$7,450
IOCC
110 WEST ROAD SUITE 360BALTIMOREMD21201CHARITY$1,250
NATIONAL HELLENIC MUSEUM
333 SOUTH HALSTEDCHICAGOIL60661PESERVATION$6,200
GREEKK ORTHO LADIES
555 E BUTTERFIELD ROADLOMBARDIL60607RELATIONSHIPS$1,050PHILOPTOCHOS SOCIETYSUITE 201
RUSH UNIVERSITY MEDICAL
1201 W HARRISON STREETCHICAGOIL60607RESEARCH$1,000SUITE 300
ST IAKOUOS RETREAT CENTER
920 224TH AVENUEKANSASVILLEWI53139RELIGIOUS$10,250
ST KATHERINE GO CHURCH
7100 AIRPORT PULLING ROADNAPLESFL34109CHURCH$1,000
SOUTH SHORE COMMUNITY ASSOCIATION
PO BOX 922SAN PEDROCA90733EDUCATIONAL$2,500SCHOLARSHIP FUND
ST JOHN OF THE CROSS
708 51ST STREETWESTERN SPRINGSIL60558CHURCH$1,000
ST JUDES
501 ST JUDES PLACEMEMPHISTN38105HOSPITAL$1,000
SHRINERS HOSPITAL
2900 ROCKY POINT DRIVETAMPAFL33607HOSPITAL$1,000
TIMOTHY CHRISTIAN SCHOOLS
1880 WEST BUTTERFIELD ROAELMHURSTIL60126EDUCATIONAL$5,000
UNIVERSITY IF ILLINOIS
1305 GREEN STREETURBANAIL61801EDUCATIONAL$5,000COLLEGE OF ENGINEERING
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$59,700TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,482RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$4,543RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$6,025RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$6,025TotalIncomeProducingActyAmt

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

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonERNEST MARION KARRASContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line175 FOREST GATE CIRCLEAddressLine1Txt
CityOAK BROOKCityNm
State AbbreviationILStateAbbreviationCd
ZIP60523ZIPCd
FieldValueIRS element (for citing)
Total Contributions$100,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockINVESTMENTSStockNm
EOY Book Value$952,209EOYBookValueAmt
EOYFMV$952,209EOYFMVAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryINDIRECT LEGAL FEESCategoryTxt
Legal Fees$300LegalFeesAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
POST OFFICE EXPENSES$322

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

FieldValueIRS element (for citing)
DescROUNDINGDesc
BOY Book Value$1BOYBookValueAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT TAXES/LICENSESCategoryTxt
Amt$15Amt

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