WHEAT FAMILY FOUNDATION INC: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- WHEAT FAMILY FOUNDATION INC (EIN 87-2369633)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-08-22
- IRS object ID
- 202432359349100713
- Schema version
- 2023v5.1
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-08-22T10:47:06-07:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 202620101 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | POTENZA CPA PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10645 N TATUM BLVD STE 200-653 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85028 | 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 | 872369633 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Wheat Family Foundation Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | WHEA | BusinessNameControlTxt |
| Phone | 6023703706 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1768 Ramsgate Drive | AddressLine1Txt |
| City | Prescott | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 86305 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Ronald Wheat | PersonNm |
| Person Title | President | PersonTitleTxt |
| Signature | 2024-08-22 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| 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 | Jana K Potenza CPA | PreparerPersonNm |
| PTIN | P01435020 | PTIN |
| Phone | 4809077753 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $165,133 | 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 |
| Interest On Sav Rev And Expnss | $1,010 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $1,010 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $1,010 | InterestOnSavingsAdjNetIncmAmt |
| Dividends Rev And Expnss | $2,793 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,793 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $2,793 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $1,251 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $12,466 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $1,251 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $5,054 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $5,054 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $3,803 | TotalAdjNetIncmAmt |
| Other Prof Fees Rev And Expnss | $3,120 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $3,120 | OtherProfFeesNetInvstIncmAmt |
| Tot Opr Expenses Rev And Expnss | $3,120 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $3,120 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $12,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $12,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $15,120 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $3,120 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $12,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$10,066 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $1,934 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $3,803 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $34,591 | CashBOYAmt |
| Cash EOY | $1,361 | CashEOYAmt |
| Cash EOYFMV | $1,361 | CashEOYFMVAmt |
| Corporate Stock BOY | $122,260 | CorporateStockBOYAmt |
| Corporate Stock EOY | $145,424 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $163,772 | CorporateStockEOYFMVAmt |
| Total Assets BOY | $156,851 | TotalAssetsBOYAmt |
| Total Assets EOY | $146,785 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $165,133 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $156,851 | CapitalStockBOYAmt |
| Capital Stock EOY | $146,785 | CapitalStockEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $156,851 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $146,785 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $156,851 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $146,785 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $156,851 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$10,066 | ExcessRevenueOverExpensesAmt |
| Subtotal | $146,785 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $146,785 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt |
|---|---|---|---|---|---|---|---|
| FT VI RSG DIV ACHIEV ETF | P | 2022-01-05 | 2023-12-26 | $3,901 | $3,226 | $675 | $675 |
| FT D WRIGHT FOC 5 ETF | P | 2022-08-04 | 2023-12-26 | $3,918 | $3,319 | $599 | $599 |
| FT VAL LINE DIV INDEX ETF | P | 2022-08-04 | 2023-12-26 | $4,048 | $4,064 | -$16 | -$16 |
| FLEX MSTAR NAT RES ETF | P | 2022-06-22 | 2023-08-25 | $599 | $606 | -$7 | -$7 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $1,251 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $27 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $27 | SubtotalAmt |
| Tax Based On Investment Income | $27 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $27 | 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 |
| Org Report Or Register State | AZ | 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 |
| Website Address | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Ronald Wheat | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6023703706 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1768 Ramsgate Drive | AddressLine1Txt |
| City | Prescott | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 86305 | 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 (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| Ronald Wheat | ||||||
| 1768 Ramsgate Dr | Prescott | AZ | 86305 | President | 0.50 | $0 |
| Marcia Wheat | ||||||
| 1768 Ramsgate Dr | Prescott | AZ | 86305 | Secretary | 0.50 | $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 |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | Cash donation to Warrior Mountain River Adventures | Description1Txt |
| Expenses1 | $12,000 | Expenses1Amt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $144,572 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $22,147 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $166,719 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $166,719 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $2,501 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $164,218 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $8,211 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $8,211 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $27 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $27 | TotalTaxAmt |
| Distributable Before Adj | $8,184 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $8,184 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $8,184 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $12,000 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $12,000 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $8,184 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr2 | $11,599 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $31,029 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $42,628 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $12,000 | QualifyingDistributionsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $8,184 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $3,816 | RemainingDistriFromCorpusAmt |
| Total Corpus | $46,444 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $46,444 | ExcessDistriCyovToNextYrAmt |
| Excess From Year2 | $11,599 | ExcessFromYear2Amt |
| Excess From Year1 | $31,029 | ExcessFromYear1Amt |
| Excess From Current Year | $3,816 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | Warrior Mountain River Adventures | RecipientPersonNm |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 72 Lakeview Village | AddressLine1Txt |
| City | Montgomery | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77356 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Relationship | Not Related | RecipientRelationshipTxt |
| Recipient Foundation Status | Public | RecipientFoundationStatusTxt |
| Grant Or Contribution Purpose | Charitable | GrantOrContributionPurposeTxt |
| Amt | $12,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $12,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1,010 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,793 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $1,251 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $3,803 | ExclusionAmt |
| Related Or Exempt Function Incm | $1,251 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $5,054 | 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 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| Accounting Fees | $1,895 | $1,895 | $0 | $0 |
| Legal Fees | $310 | $310 | $0 | $0 |
| Management Fees | $915 | $915 | $0 | $0 |
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