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THE KARESE FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
THE KARESE FOUNDATION (EIN 47-5125279)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-18
IRS object ID
202413249349100006
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)
Return2024-11-18T23:59:29-08:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN911537751PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Barry W Merrell CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1316 W BOONE AVE STE 675AddressLine1Txt
CitySPOKANECityNm
State AbbreviationWAStateAbbreviationCd
ZIP99201ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN475125279EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE KARESE FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlKAREBusinessNameControlTxt
Phone5092382708PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 499AddressLine1Txt
CityCOLBERTCityNm
State AbbreviationWAStateAbbreviationCd
ZIP99005ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFOSTER H CHASE JRPersonNm
Person TitlePresidentPersonTitleTxt
Signature2024-11-18SignatureDt
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 PersonBARRY W MERRELLPreparerPersonNm
PTINP00055845PTIN
Phone5093269266PhoneNum
Self EmployedYes (X)SelfEmployedInd
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$354,020FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$4InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$4InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$4InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$11,880DividendsRevAndExpnssAmt
Dividends Net Invst Incm$11,880DividendsNetInvstIncmAmt
Dividends Adj Net Incm$11,880DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss-$7,518NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$241,029GrossSalesPriceAmt
Net ST Capital Gain Adj Net Incm$2,621NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$4,366TotalRevAndExpnssAmt
Total Net Invst Incm$11,884TotalNetInvstIncmAmt
Total Adj Net Incm$14,505TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$4,385OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$4,385OtherProfFeesNetInvstIncmAmt
Other Expenses Rev And Expnss$734OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$200OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$534OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$5,119TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$4,585TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$534TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$100,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$100,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$105,119TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$4,585TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$100,534TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$100,753ExcessRevenueOverExpensesAmt
Net Investment Income$7,299NetInvestmentIncomeAmt
Adjusted Net Income$14,505AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$203,281CashBOYAmt
Cash EOY$7,250CashEOYAmt
Cash EOYFMV$7,250CashEOYFMVAmt
Corporate Stock BOY$226,262CorporateStockBOYAmt
Corporate Stock EOY$321,540CorporateStockEOYAmt
Corporate Stock EOYFMV$346,770CorporateStockEOYFMVAmt
Total Assets BOY$429,543TotalAssetsBOYAmt
Total Assets EOY$328,790TotalAssetsEOYAmt
Total Assets EOYFMV$354,020TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$429,543RetainedEarningBOYAmt
Retained Earning EOY$328,790RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$429,543TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$328,790TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$429,543TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$328,790TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$429,543TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$100,753ExcessRevenueOverExpensesAmt
Subtotal$328,790SubtotalAmt
Tot Net Ast Or Fund Balances EOY$328,790TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
COMMON STOCK, MORGAN STANLEY STP2023-07-012023-12-31$181,618$178,997$2,621$2,621
COMMON STOCK, MORGAN STANLEY LTP2010-01-012023-12-31$59,411$69,550-$10,139-$10,139
FieldValueIRS element (for citing)
Capital Gain Net Income-$7,518CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$2,621NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$101InvestmentIncomeExciseTaxAmt
Subtotal$101SubtotalAmt
Tax Based On Investment Income$101TaxBasedOnInvestmentIncomeAmt
Tax Due$101TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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
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
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1FOSTER H CHASE JRBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5092382708PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 499AddressLine1Txt
CityCOLBERTCityNm
State AbbreviationWAStateAbbreviationCd
ZIP990050499ZIPCd
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
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
BRENDA JO CHASE
PO BOX 499COLBERTWA99005Treasurer1.00$0
FOSTER H CHASE JR
PO BOX 499COLBERTWA99005President1.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$274,371AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$203,281AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$477,652TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$477,652AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$7,165CashDeemedCharitableAmt
Net Vl Noncharitable Assets$470,487NetVlNoncharitableAssetsAmt
Minimum Investment Return$23,524MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$23,524MinimumInvestmentReturnAmt
Tax Based On Investment Income$101TaxBasedOnInvestmentIncomeAmt
Total Tax$101TotalTaxAmt
Distributable Before Adj$23,423DistributableBeforeAdjAmt
Distributable Before Ded$23,423DistributableBeforeDedAmt
Distributable As Adjusted$23,423DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$100,534ExpensesAndContributionsAmt
Qualifying Distributions$100,534QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$23,423DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$844,177ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$355,214ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$64,122ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$117,250ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$14,747ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,395,510TotalExcessDistributionCyovAmt
Qualifying Distributions$100,534QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$23,423AppliedToCurrentYearAmt
Remaining Distri From Corpus$77,111RemainingDistriFromCorpusAmt
Total Corpus$1,472,621TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$844,177ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$628,444ExcessDistriCyovToNextYrAmt
Excess From Year4$355,214ExcessFromYear4Amt
Excess From Year3$64,122ExcessFromYear3Amt
Excess From Year2$117,250ExcessFromYear2Amt
Excess From Year1$14,747ExcessFromYear1Amt
Excess From Current Year$77,111ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerBRENDA JO CHASEContributingManagerNm
Contributing ManagerFOSTER H CHASE JRContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
GORDON COLLEGE
255 GRAPEVINE RDWENHAMMA01984N/APCUNRESTRICTED OPERATIONAL FUNDING$20,000
NORTHWEST CHRISTIAN SCHOOLS
5104 BERNHILL RDCOLBERTWA99005N/APCTEACHER SALARY INCREASE$80,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$100,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$4ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$11,880ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm-$7,518RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$11,884ExclusionAmt
Related Or Exempt Function Incm-$7,518RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$4,366TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (35 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
HARDING LOEVNER INTL EQTY INST$13,428$14,032
PRINCIPAL REAL EST SEC INST$9,120$9,394
ALCON INC.$3,800$3,594
ALPHABET INC. CL A$2,155$2,375
AMAZON COM INC.$2,506$2,730
AMERICAN EXPRESS CO$3,923$4,496
APPLE INC$3,607$4,043
COSTCO WHOLESALE CORP NEW$3,640$4,621
HOME DEPOT INC$4,730$4,159
L3HARRIS TECHNOLOGIES INC$4,272$4,423
MICROSOFT CORP$4,162$4,889
SHERWIN WILLIAMS COMPANY OHIO$3,971$3,743
T-MOBILE US INC COM$2,906$4,169
UBER TECHNOLOGIES INC$2,479$5,295
VISA INC CL A$3,794$4,686
ZOETIS INC$4,554$4,145
BERKSHIRE HATHAWAY CL-B NEW$2,967$3,567
DELTA AIR LINES INC NEW$3,129$3,822
LOCKHEED MARTIN CORP$3,512$4,079
PALO ALTO NETWORKS INC$2,381$4,423
PROLOGIS INC COM$3,343$4,132
SALESFORCE INC$2,998$4,737
TRANE TECHNOLOGIES PLC$3,010$4,390
SCHWAB SHORT-TERM US TREAS$2,024$2,035
UNITED RENTALS INC$2,291$4,587
NEXTERA ENERGY$2,574$2,855
E V INCOME FUND OF BOSTON$19,912$20,761
FULLER&THALER BHV SMCP EQ INST$13,111$14,587
GOLDMAN SACHS GQG INT OPP$12,781$14,555
LAZARD GLB LSTD INFR PTF INST$8,733$9,002
LORD ABBETT INCOME I$40,940$42,133
METROPOLITAN WEST TOT RET BD$58,111$59,267
MS MORTGAGE SECURITIES TRUST$19,983$20,606
PRINCIPAL SPC PRF&CP SEC INC$20,765$20,571
ISHARES FLOATING RATE BD EFT$25,928$25,867

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
BANK AND SERVICE CHARGES$200$200
REGISTERED AGENT FEE$534$534

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryINVESTMENT MANAGEMENT FEESCategoryTxt
Amt$4,385Amt
Net Investment Income$4,385NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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