BETA

ERIC AND SARAH LANE FAMILY FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
ERIC AND SARAH LANE FAMILY FOUNDATION (EIN 30-6681859)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-10-01
IRS object ID
202442759349100609
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)
Return2024-10-01T09:45:38-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ERNST & YOUNG US LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE MANHATTAN WESTAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN306681859EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Eric and Sarah Lane Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% GOLDMAN SACHS PFOInCareOfNm
Business Name ControlERICBusinessNameControlTxt
Phone2129028711PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO Box 73 Bowling Green StationAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP102740073ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonEric LanePersonNm
Person TitleTrusteePersonTitleTxt
Phone5186405000PhoneNum
Signature2024-06-30SignatureDt
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 PersonChristine DiIonnaPreparerPersonNm
PTINP00999533PTIN
Phone2127733000PhoneNum
Preparation2024-06-25PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$680,010FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,425,872ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$11,586InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$11,586InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$23,312DividendsRevAndExpnssAmt
Dividends Net Invst Incm$23,312DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$678,086NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,424,234GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$678,086CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$2,138,856TotalRevAndExpnssAmt
Total Net Invst Incm$712,984TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Accounting Fees Rev And Expnss$7,939AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$3,970AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$3,969AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$10,000TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$17,939TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$3,970TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$3,969TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,482,900ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,482,900ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,500,839TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$3,970TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$1,486,869TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$638,017ExcessRevenueOverExpensesAmt
Net Investment Income$709,014NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$662,107SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$549,165SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$549,165SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$45,766CorporateStockBOYAmt
Corporate Stock EOY$72,792CorporateStockEOYAmt
Corporate Stock EOYFMV$130,845CorporateStockEOYFMVAmt
Total Assets BOY$707,873TotalAssetsBOYAmt
Total Assets EOY$621,957TotalAssetsEOYAmt
Total Assets EOYFMV$680,010TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$707,873CapitalStockBOYAmt
Capital Stock EOY$621,957CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$707,873TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$621,957TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$707,873TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$621,957TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$707,873TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$638,017ExcessRevenueOverExpensesAmt
Subtotal$1,345,890SubtotalAmt
Other Decreases$723,933OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$621,957TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPUBLICLY TRADED SECURITIESPropertyDesc
Gross Sales Price$1,424,234GrossSalesPriceAmt
Cost Or Other Basis$746,148CostOrOtherBasisAmt
Gain Or Loss$678,086GainOrLossAmt
Gains Minus Excess Or Losses$678,086GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$678,086CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$9,855InvestmentIncomeExciseTaxAmt
Subtotal$9,855SubtotalAmt
Tax Based On Investment Income$9,855TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$11,924EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$25,000ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$36,924TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$103EsPenaltyAmt
Overpayment$26,966OverpaymentAmt
Applied To ES Tax$26,966AppliedToESTaxAmt

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 StateNYOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenfalseForm990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNONEWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1GOLDMAN SACHS PFOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2129028711PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1200 WEST STREETAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10282ZIPCd
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
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd
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
Eric Lane
PO Box 73 Bowling Green StationNew YorkNY102740073Trustee1.0$0$0$0
Sarah Lane
PO Box 73 Bowling Green StationNew YorkNY102740073Trustee1.0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$87,104AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$667,989AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$755,093TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$755,093AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$11,326CashDeemedCharitableAmt
Net Vl Noncharitable Assets$743,767NetVlNoncharitableAssetsAmt
Minimum Investment Return$37,188MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$37,188MinimumInvestmentReturnAmt
Tax Based On Investment Income$9,855TaxBasedOnInvestmentIncomeAmt
Total Tax$9,855TotalTaxAmt
Distributable Before Adj$27,333DistributableBeforeAdjAmt
Distributable Before Ded$27,333DistributableBeforeDedAmt
Distributable As Adjusted$27,333DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,486,869ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$1,486,869QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$27,333DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12021PriorYear1Yr
Prior Year22020PriorYear2Yr
Prior Year32019PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr2$363,265ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,060,172ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,423,437TotalExcessDistributionCyovAmt
Qualifying Distributions$1,486,869QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$27,333AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,459,536RemainingDistriFromCorpusAmt
Total Corpus$2,882,973TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$2,882,973ExcessDistriCyovToNextYrAmt
Excess From Year2$363,265ExcessFromYear2Amt
Excess From Year1$1,060,172ExcessFromYear1Amt
Excess From Current Year$1,459,536ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerERIC LANEContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1See List AttachedBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 73 Bowling Green StationAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP102740073ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNoneRecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeGeneral Charitable PurposesGrantOrContributionPurposeTxt
Amt$1,482,900Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,482,900TotalGrantOrContriPdDurYrAmt

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$11,586ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$23,312ExclusionAmt
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 Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$678,086ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$712,984ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$712,984TotalIncomeProducingActyAmt

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 PersonEric LaneContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 73 Bowling Green StationAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP102740073ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,425,872TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp (3 entries)

ContributorContributorNumNoncash PropertyNoncashPropertyDescFair Market ValueFairMarketValueAmtReceivedReceivedDt
11,000 Shares Goldman Sachs Group Inc$368,7202023-02-02
11,000 Shares Goldman Sachs Group Inc$367,4032023-02-27
120,000 Shares Vertiv Holdings LLC$689,7502023-08-15

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$7,939Amt
Net Investment Income$3,970NetInvestmentIncomeAmt
Disbursements Charitable Prps$3,969DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (3 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
WHEELS UP EXPERIENCE INC CMN$0$0
CROWN CASTLE INTL CORP CMN$1,558$57,595
GOLDMAN SACHS INC$71,234$73,250

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail (2 entries)

DescDescAmtAmt
APPRECIATION OVER DONOR'S COST BASIS FOR$0
STOCK DONATED TO THE FOUNDATION$723,933

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAX PAIDCategoryTxt
Amt$10,000Amt

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