BETA

JG FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
JG FOUNDATION (EIN 95-4693758)
Tax period
2023-06-01 to 2024-05-31
Filed
2024-08-13
IRS object ID
202442269349100964
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

FieldValueIRS element (for citing)
Return2024-08-13T18:00:26-05:00ReturnTs
Tax Period End2024-05-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1HOLTHOUSE CARLIN & VAN TRIGT LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line111444 w OLYMPIC BLVD 11TH FLRAddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90064ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-06-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN954693758EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1JG FOUNDATIONBusinessNameLine1Txt
Business Name Line2C/O JAMES GIPSONBusinessNameLine2Txt
FieldValueIRS element (for citing)
In Care Of% MICHAEL KROMMInCareOfNm
Business Name ControlJGFOBusinessNameControlTxt
Phone2136838790PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line19663 SANTA MONICA BLVD Suite 690AddressLine1Txt
CityBEVERLY HILLSCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90210ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMICHAEL KROMMPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone2136838790PhoneNum
Signature2024-08-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMICHAEL S DREYERPreparerPersonNm
PTINP00002084PTIN
Phone3105661900PhoneNum
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-08-08 14:25:15ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$5,343,621FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$20,313InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$20,313InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$47,254DividendsRevAndExpnssAmt
Dividends Net Invst Incm$47,254DividendsNetInvstIncmAmt
Other Income Rev And Expnss$19,953OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$19,953OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$87,520TotalRevAndExpnssAmt
Total Net Invst Incm$87,520TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Accounting Fees Rev And Expnss$4,450AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$4,450AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$0AccountingFeesChrtblPrpsAmt
Tot Opr Expenses Rev And Expnss$4,450TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$4,450TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$4,450TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$4,450TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$83,070ExcessRevenueOverExpensesAmt
Net Investment Income$83,070NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$568,471SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$651,540SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$651,540SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$2,762,575CorporateStockBOYAmt
Corporate Stock EOY$2,762,574CorporateStockEOYAmt
Corporate Stock EOYFMV$4,692,081CorporateStockEOYFMVAmt
Total Assets BOY$3,331,046TotalAssetsBOYAmt
Total Assets EOY$3,414,114TotalAssetsEOYAmt
Total Assets EOYFMV$5,343,621TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$3,331,046RetainedEarningBOYAmt
Retained Earning EOY$3,414,114RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$3,331,046TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,414,114TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,331,046TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,414,114TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,331,046TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$83,070ExcessRevenueOverExpensesAmt
Subtotal$3,414,116SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,414,116TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,155InvestmentIncomeExciseTaxAmt
Subtotal$1,155SubtotalAmt
Tax Based On Investment Income$1,155TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$10,000EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$10,000TotalPaymentsAndCreditsAmt
Overpayment$8,845OverpaymentAmt
Applied To ES Tax$0AppliedToESTaxAmt
Refund$8,845RefundAmt

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 StateCAOrgReportOrRegisterStateCd
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

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1MICHAEL KROMMBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8057012059PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14210 NE 95TH CTAddressLine1Txt
CityKANSAS CITYCityNm
State AbbreviationMOStateAbbreviationCd
ZIP64156ZIPCd
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
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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
JAMES GIPSON
9663 SANTA MONICA BLVDBEVERLY HILLSCA90210PRESIDENT0.5$0$0$0
MICHAEL KROMM
4210 NE 95TH CTKANSAS CITYMO64156SECRETARY & CFO0.5$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$3,924,770AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$610,005AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,534,775TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$4,534,775AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$68,022CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,466,753NetVlNoncharitableAssetsAmt
Minimum Investment Return$223,338MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$223,338MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,155TaxBasedOnInvestmentIncomeAmt
Total Tax$1,155TotalTaxAmt
Distributable Before Adj$222,183DistributableBeforeAdjAmt
Distributable Before Ded$222,183DistributableBeforeDedAmt
Distributable As Adjusted$222,183DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$0ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$0QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$222,183DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12021PriorYear1Yr
Prior Year22020PriorYear2Yr
Prior Year32019PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$1,871,948ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$2,876,184ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$2,220,495ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$1,073,791ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$8,042,418TotalExcessDistributionCyovAmt
Qualifying Distributions$0QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$222,183ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$222,183ExcessDistributionCyovAppCYAmt
Total Corpus$7,820,235TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$1,649,765ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$6,170,470ExcessDistriCyovToNextYrAmt
Excess From Year4$2,876,184ExcessFromYear4Amt
Excess From Year3$2,220,495ExcessFromYear3Amt
Excess From Year2$1,073,791ExcessFromYear2Amt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$20,313ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$47,254ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescFEDERAL TAX REFUNDDesc
Exclusion$19,953ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$87,520ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$87,520TotalIncomeProducingActyAmt

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)
CategoryHCVTCategoryTxt
Amt$4,450Amt
Net Investment Income$4,450NetInvestmentIncomeAmt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
12,500 GE AEROSPACE$1,406,157$2,064,250
3,020 SHS APPLE INC$115,880$580,595
10000 SHS EXON MOBILE CORP.$418,175$1,172,600
4166 SHS GE HEALTHCARE TECH$465,092$324,948
3125 GE VERNOVA IC$357,270$549,688

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX REFUNDDesc
Revenue And Expenses Per Books$19,953RevenueAndExpensesPerBooksAmt
Net Investment Income$19,953NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryCA FTB TAXCategoryTxt

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