MENLO FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: MENLO FOUNDATION INC (EIN 95-3388159)
Tax period: 2022-12-01 to 2023-11-30
Filed: 2024-10-15
IRS object ID: 202412899349101181
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
Form 990-PF
Schedule B
Accounting Fees Schedule
Investments Corp Stock Schedule
Other Decreases Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-10-15T21:08:20-04:00	ReturnTs
Tax Period End	2023-11-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	461587174	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	MIRACLE MILE CPA AN ACCOUNTANCY CORP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	5757 WILSHIRE BLVD PH 5	AddressLine1Txt
City	LOS ANGELES	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	90036	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2022-12-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	953388159	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MENLO FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	MENL	BusinessNameControlTxt
Phone	3239371050	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4221 WILSHIRE BOULEVARDSUITE 480	AddressLine1Txt
City	LOS ANGELES	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	900103541	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	FRANKLIN MENLO	PersonNm
Person Title	PRESIDENT	PersonTitleTxt
Phone	3239371050	PhoneNum
Signature	2024-10-15	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	false	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	POLINA TSIKMAN	PreparerPersonNm
PTIN	P00634963	PTIN
Phone	3234561888	PhoneNum
Preparation	2024-10-15	PreparationDt

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2024-10-15 13:58:12Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$5,247,472	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$5,769,164	ContriRcvdRevAndExpnssAmt
Total Rev And Expnss	$5,769,164	TotalRevAndExpnssAmt
Total Net Invst Incm	$0	TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss	$79,550	AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss	$1,020	TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$80,570	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$2,539,320	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$2,539,320	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$2,619,890	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$2,539,320	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$3,149,274	ExcessRevenueOverExpensesAmt
Net Investment Income	$0	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$2,098,198	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$5,247,472	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$5,247,472	SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY	$4,109,446	CorporateStockBOYAmt
Corporate Stock EOY	$3,900,596	CorporateStockEOYAmt
Total Assets BOY	$6,207,644	TotalAssetsBOYAmt
Total Assets EOY	$9,148,068	TotalAssetsEOYAmt
Total Assets EOYFMV	$5,247,472	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY	$6,207,644	NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY	$9,148,068	NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY	$6,207,644	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$9,148,068	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$6,207,644	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$9,148,068	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$6,207,644	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$3,149,274	ExcessRevenueOverExpensesAmt
Subtotal	$9,356,918	SubtotalAmt
Other Decreases	$208,850	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$9,148,068	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$0	InvestmentIncomeExciseTaxAmt

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	CA	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
Individual With Books	FRANKLIN MENLO	IndividualWithBooksNm
Phone	3239371050	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	4221 WILSHIRE BLVD STE 480	AddressLine1Txt
City	LOS ANGELES	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	90010	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
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 (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
FRANKLIN MENLO
4221 WILSHIRE BLVD STE 480	LOS ANGELES	CA	90010	PRESIDENT	000.00	$0	$0	$0
MOSHE FRANKEL
4221 WILSHIRE BLVD STE 480	LOS ANGELES	CA	90010	TREASURER	000.00	$0	$0	$0
STEVE ATLAS
4331 WILSHIRE BLVD STE 480	LOS ANGELES	CA	90010	SECRETARY	000.00	$0	$0	$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

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$2,894,733	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$3,840,558	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$6,735,291	TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast	$6,735,291	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$101,029	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$6,634,262	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$331,713	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$331,713	MinimumInvestmentReturnAmt
Distributable Before Adj	$331,713	DistributableBeforeAdjAmt
Distributable Before Ded	$331,713	DistributableBeforeDedAmt
Distributable As Adjusted	$331,713	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$2,539,320	ExpensesAndContributionsAmt
Qualifying Distributions	$2,539,320	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$331,713	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr4	$4,999,488	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$5,056,160	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$4,960,094	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$5,281,066	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$20,296,808	TotalExcessDistributionCyovAmt
Qualifying Distributions	$2,539,320	QualifyingDistributionsAmt
Applied To Current Year	$331,713	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$2,207,607	RemainingDistriFromCorpusAmt
Total Corpus	$22,504,415	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$22,504,415	ExcessDistriCyovToNextYrAmt
Excess From Year4	$4,999,488	ExcessFromYear4Amt
Excess From Year3	$5,056,160	ExcessFromYear3Amt
Excess From Year2	$4,960,094	ExcessFromYear2Amt
Excess From Year1	$5,281,066	ExcessFromYear1Amt
Excess From Current Year	$2,207,607	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	FRANKLIN MENLO	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SEE ATTACHED STATEMENT	BusinessNameLine1Txt

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	4221 WILSHIRE BLVD 480	AddressLine1Txt
City	LOS ANGELES	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	90010	ZIPCd

Field	Value	IRS element (for citing)
Recipient Relationship	NONE	RecipientRelationshipTxt
Grant Or Contribution Purpose	CHARITABLE	GrantOrContributionPurposeTxt
Amt	$2,539,320	Amt

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$2,539,320	TotalGrantOrContriPdDurYrAmt

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

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
General Rule	Yes (X)	GeneralRuleInd

Contributor Information ContributorInformationGrp (3 entries)

ContributorContributorNum	Address Line1ContributorUSAddress/AddressLine1Txt	CityContributorUSAddress/CityNm	State AbbreviationContributorUSAddress/StateAbbreviationCd	ZIPContributorUSAddress/ZIPCd	Total ContributionsTotalContributionsAmt	Person ContributionPersonContributionInd
MENLO 2014 CHARITABLE LEAD TRUST
1	4221 WILSHIRE BLVD STE 480	LOS ANGELES	CA	90010	$3,344,164	Yes (X)
MENLO 2019 CHARITABLE LEAD TRUST
2	4221 WILSHIRE BLVD STE 480	LOS ANGELES	CA	90010	$1,350,000	Yes (X)
SURVIVOR'S TRUST
3	4221 WILSHIRE BLVD	LOS ANGELES	CA	90010	$1,000,000	Yes (X)

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail (2 entries)

CategoryCategoryTxt	AmtAmt
AUDIT FEE	$4,550
IN KIND SERVICES - ACCOUNTING	$75,000

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

Field	Value	IRS element (for citing)
Stock	MARQETA INC CLASS A	StockNm
EOY Book Value	$3,900,596	EOYBookValueAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

Field	Value	IRS element (for citing)
Desc	UNREALISED LOSS ON CORPORATE STOCKS	Desc
Amt	$208,850	Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	STATE REGISTRATION RENEWAL FEE	CategoryTxt
Amt	$1,020	Amt

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