BETA

PRL KEYSTONE FOUNDATION INC: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
PRL KEYSTONE FOUNDATION INC (EIN 87-3127665)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-13
IRS object ID
202413189349104006
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)
Return2024-11-13T18:27:00-06:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1FOLEY & LARDNER LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1777 E WISCONSIN AVEAddressLine1Txt
CityMILWAUKEECityNm
State AbbreviationWIStateAbbreviationCd
ZIP532025306ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN873127665EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PRL KEYSTONE FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% CHERRY CREEK FAMILY OFFICESInCareOfNm
Business Name ControlPRLKBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line16580 MONONA DRIVE SUITE 1035AddressLine1Txt
CityMADISONCityNm
State AbbreviationWIStateAbbreviationCd
ZIP53716ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonBECKY STEINHOFFPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone6085989036PhoneNum
Signature2024-11-11SignatureDt
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 PersonEMMALINE S JURGENAPreparerPersonNm
PTINP02299102PTIN
Phone4142712400PhoneNum
Preparation2024-11-07PreparationDt
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$184,666FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$828,954ContriRcvdRevAndExpnssAmt
Total Rev And Expnss$828,954TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Legal Fees Rev And Expnss$12,221LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$0LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm$0LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl$12,221LegalFeesDsbrsChrtblAmt
Other Prof Fees Rev And Expnss$3,261OtherProfFeesRevAndExpnssAmt
Other Prof Fees Dsbrs Chrtbl$3,261OtherProfFeesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss$21,606DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$349,148OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$349,148OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$386,236TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$364,630TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$598,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$598,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$984,736TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$963,130TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$155,782ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$278,082CashBOYAmt
Cash EOY$73,204CashEOYAmt
Cash EOYFMV$73,204CashEOYFMVAmt
Acct Rcvbl$13,549AcctRcvblAmt
Acct Rcvbl EOY$13,549AcctRcvblEOYAmt
Acct Rcvbl EOYFMV$13,549AcctRcvblEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$123,606LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$25,693LandBldgEquipAccumDeprecAmt
Land BOY$57,213LandBOYAmt
Land EOY$97,913LandEOYAmt
Land EOYFMV$97,913LandEOYFMVAmt
Total Assets BOY$335,295TotalAssetsBOYAmt
Total Assets EOY$184,666TotalAssetsEOYAmt
Total Assets EOYFMV$184,666TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Tot Net Ast Or Fund Balances BOY$335,295TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$184,666TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$335,295TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$184,666TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$335,295TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$155,782ExcessRevenueOverExpensesAmt
Other Increases$5,153OtherIncreasesAmt
Subtotal$184,666SubtotalAmt
Tot Net Ast Or Fund Balances EOY$184,666TotNetAstOrFundBalancesEOYAmt
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$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$0TaxDueAmt

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 StateWIOrgReportOrRegisterStateCd
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 Line1CHERRY CREEK FAMILY OFFICESBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3038629550PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1210 UNIVERSITY BLVD STE 650AddressLine1Txt
CityDENVERCityNm
State AbbreviationCOStateAbbreviationCd
ZIP80206ZIPCd
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
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
BECKY STEINHOFF
6580 MONONA DRIVE SUITE 1035MADISONWI53716PRESIDENT, DIRECTOR20.0$0$0$0
SHERI KOLE
6580 MONONA DRIVE SUITE 1035MADISONWI53716TREASURER, DIRECTOR1.0$0$0$0
TIMOTHY ULFIG
6580 MONONA DRIVE SUITE 1035MADISONWI53716SECRETARY, DIRECTOR1.0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1SEE ATTACHED STATEMENTDescription1Txt
Expenses1$364,630Expenses1Amt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$154,805AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$154,805TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$154,805AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,322CashDeemedCharitableAmt
Net Vl Noncharitable Assets$152,483NetVlNoncharitableAssetsAmt
Minimum Investment Return$7,624MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$7,624MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$7,624DistributableBeforeAdjAmt
Distributable Before Ded$7,624DistributableBeforeDedAmt
Distributable As Adjusted$7,624DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$963,130ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$62,306CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$1,025,436QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$7,624DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12021PriorYear1Yr
Prior Year22020PriorYear2Yr
Prior Year32019PriorYear3Yr
Excess Distribution Cyov Yr1$595,641ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$595,641TotalExcessDistributionCyovAmt
Qualifying Distributions$1,025,436QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$7,624AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,017,812RemainingDistriFromCorpusAmt
Total Corpus$1,613,453TotalCorpusAmt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,613,453ExcessDistriCyovToNextYrAmt
Excess From Year1$595,641ExcessFromYear1Amt
Excess From Current Year$1,017,812ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerNONEContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonBECKY STEINHOFFRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line16580 MONONA DRIVE SUITE 1035AddressLine1Txt
CityMADISONCityNm
State AbbreviationWIStateAbbreviationCd
ZIP53716ZIPCd
FieldValueIRS element (for citing)
Recipient Email AddressBECKY@PRLKEYSTONE.ORGRecipientEmailAddressTxt
Form And Info And MaterialsFOR THE SCHOLARS PROGRAM, THE ORGANIZATION FACILITATES AN ONLINE APPLICATION FORM. APPLICANTS ARE ASKED TO COMPLETE THE FORM AND INCLUDE INFORMATION ABOUT THEIR INTEREST IN THE PROGRAM AND THEIR ACADEMIC GOALS. THE ORGANIZATION ALSO ACCEPTS GRANT REQUESTS FROM OTHER ORGANIZATIONS WITH MISSIONS THAT ALIGN WITH THE ORGANIZATION'S MISSION.FormAndInfoAndMaterialsTxt
Submission DeadlinesAPPLICATIONS FOR THE SCHOLAR PROGRAM OPEN IN FEBRUARY AND ARE REVIEWED ON A ROLLING BASIS. APPLICATISubmissionDeadlinesTxt
Restrictions On AwardsTHE ORGANIZATION'S SCHOLAR PROGRAM SUPPORTS STUDENTS IN THE MADISON, WISCONSIN AREA. THE ORGANIZATION'S GRANTMAKING PROGRAM IS OPEN TO ANY GOGRAPHICAL AREA, BUT GRANTS ARE GENERALLY FOCUSED IN THE MADISON, WISCONSIN AREA.RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE ATTACHED SCHEDULEBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1SEE ATTACHED SCHEDULEAddressLine1Txt
CityVARIOUSCityNm
State AbbreviationWIStateAbbreviationCd
ZIP00000ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationshipTxt
Grant Or Contribution PurposeGENERALGrantOrContributionPurposeTxt
Amt$598,500Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$598,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp
Dividends And Interest From Sec DtlDividendsAndInterestFromSecDtl
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
Subtotals Incm Producing ActySubtotalsIncmProducingActyGrp

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 (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
SPL
1FOLEY LARDNER LLP 777 E WISCONSIMILWAUKEEWI532025306$757,954Yes (X)
OUT HEALTH INC
2TAMARA PACKARD 122 W WASHINGTON AVMADISONWI537032718$71,000Yes (X)

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (2 entries)

PropertyPropertyDescAcquiredAcquiredDtCost Or Other BasisCostOrOtherBasisAmtPrior Year DepreciationPriorYearDepreciationAmtComputation MethodComputationMethodTxtLifeLifeRtCurrent Year ExpenseCurrentYearExpenseAmt
FORD TRANSIT VAN2022-08-18$61,300$4,087SL5$12,260
PACIFICA MINIVAN2023-04-01$62,306SL5$9,346

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryFOLEY & LARDNER LLPCategoryTxt
Legal Fees$12,221LegalFeesAmt
Disbursements Charitable Prps$12,221DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
SCHOLARS PROGRAM EXPENSES$340,826$340,826
CHILDREN'S FUNDING STREAM$5,450$5,450
OTHER$2,872$2,872

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescPRIOR YEAR LIABILITY ADJUSTMENTDesc
Amt$5,153Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryCONSULTING FEESCategoryTxt
Amt$3,261Amt
Disbursements Charitable Prps$3,261DisbursementsCharitablePrpsAmt

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