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LOUIS J MASCARO FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
LOUIS J MASCARO FOUNDATION INC (EIN 82-2800196)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-03-16
IRS object ID
202340759349100309
Schema version
2022v4.1
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)
Return2023-03-16T08:43:28-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN822800196EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LOUIS J MASCARO FOUNDATION INCBusinessNameLine1Txt
Business Name Line2DBA MASCARO AUTOMOBILE MUSEUMBusinessNameLine2Txt
FieldValueIRS element (for citing)
In Care Of% THOMAS D SASSAMANInCareOfNm
Business Name ControlLOUIBusinessNameControlTxt
Phone4843986500PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12650 AUDUBON ROADAddressLine1Txt
CityAUDUBONCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19403ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonPASQUALE MASCAROPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone4843986500PhoneNum
Signature2023-03-14SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstPASQUALEPersonFirstNm
Person LastMASCAROPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonERIC R STEPHEN CPAPreparerPersonNm
PTINP01048554PTIN
Phone2679336164PhoneNum
Preparation2023-03-14PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$4,708,826FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$470,000ContriRcvdRevAndExpnssAmt
Gross Sales Less Ret And Allwnc$7,119GrossSalesLessRetAndAllwncAmt
Gross Profit Rev And Expnss$7,119GrossProfitRevAndExpnssAmt
Total Rev And Expnss$477,119TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Legal Fees Rev And Expnss$100LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$0LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm$0LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl$0LegalFeesDsbrsChrtblAmt
Other Prof Fees Rev And Expnss$18,495OtherProfFeesRevAndExpnssAmt
Other Prof Fees Dsbrs Chrtbl$18,495OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss$84,160TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$81,543TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss$21,523DeprecAndDpltnRevAndExpnssAmt
Occupancy Rev And Expnss$950OccupancyRevAndExpnssAmt
Occupancy Dsbrs Chrtbl$936OccupancyDsbrsChrtblAmt
Printing And Pub Rev And Expnss$1,742PrintingAndPubRevAndExpnssAmt
Printing And Pub Dsbrs Chrtbl$1,683PrintingAndPubDsbrsChrtblAmt
Other Expenses Rev And Expnss$198,562OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$159,077OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$325,532TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$261,734TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$325,532TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$261,734TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$151,587ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$13,746CashBOYAmt
Cash EOY$11,832CashEOYAmt
Cash EOYFMV$11,832CashEOYFMVAmt
Invst Land Cost Or Other Basis$3,483,155InvstLandCostOrOtherBasisAmt
Invst Land Accum Depreciation$21,523InvstLandAccumDepreciationAmt
Land Bldg Investments BOY$152,500LandBldgInvestmentsBOYAmt
Land Bldg Investments EOY$3,461,632LandBldgInvestmentsEOYAmt
Land Bldg Investments EOYFMV$3,461,632LandBldgInvestmentsEOYFMVAmt
Other Assets BOY$4,390,993OtherAssetsBOYAmt
Other Assets EOY$1,235,362OtherAssetsEOYAmt
Other Assets EOYFMV$1,235,362OtherAssetsEOYFMVAmt
Total Assets BOY$4,557,239TotalAssetsBOYAmt
Total Assets EOY$4,708,826TotalAssetsEOYAmt
Total Assets EOYFMV$4,708,826TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$4,557,239RetainedEarningBOYAmt
Retained Earning EOY$4,708,826RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$4,557,239TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,708,826TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,557,239TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,708,826TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,557,239TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$151,587ExcessRevenueOverExpensesAmt
Subtotal$4,708,826SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,708,826TotNetAstOrFundBalancesEOYAmt
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
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 Line1THOMAS D SASSAMANBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2679336040PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12650 AUDUBON ROADAddressLine1Txt
CityAUDUBONCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19403ZIPCd
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
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonLOUIS J MASCAROPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line12650 AUDUBON ROADAddressLine1Txt
CityAUDUBONCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19403ZIPCd
FieldValueIRS element (for citing)
TitleTRUSTEETitleTxt
Average Hrs Per Wk Devoted To Pos1.0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$33,040AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$33,040TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$33,040AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$496CashDeemedCharitableAmt
Net Vl Noncharitable Assets$32,544NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,627MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,627MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$1,627DistributableBeforeAdjAmt
Distributable Before Ded$1,627DistributableBeforeDedAmt
Distributable As Adjusted$1,627DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$261,734ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$261,734QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,627DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12020PriorYear1Yr
Prior Year22019PriorYear2Yr
Prior Year32018PriorYear3Yr
Total For Prior Years$21,389TotalForPriorYearsAmt
Excess Distribution Cyov Yr2$0ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$157,781ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$157,781TotalExcessDistributionCyovAmt
Qualifying Distributions$261,734QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$1,627AppliedToCurrentYearAmt
Remaining Distri From Corpus$260,107RemainingDistriFromCorpusAmt
Total Corpus$417,888TotalCorpusAmt
Prior Year Undistributed Incm$21,389PriorYearUndistributedIncmAmt
Taxable1$21,389Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$417,888ExcessDistriCyovToNextYrAmt
Excess From Year2$0ExcessFromYear2Amt
Excess From Year1$157,781ExcessFromYear1Amt
Excess From Current Year$260,107ExcessFromCurrentYearAmt
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 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

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescMUSEUM ENTRANCE FEESDesc
Related Or Exempt Function Incm$7,119RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$7,119RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$7,119TotalIncomeProducingActyAmt

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 PersonLOUIS J MASCAROContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line12650 AUDUBON ROADAddressLine1Txt
CityAUDUBONCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19403ZIPCd
FieldValueIRS element (for citing)
Total Contributions$470,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (4 entries)

PropertyPropertyDescAcquiredAcquiredDtCost Or Other BasisCostOrOtherBasisAmtComputation MethodComputationMethodTxtCurrent Year ExpenseCurrentYearExpenseAmt
LAND2020-04-20$152,500L
LAND-NEW LIFE2022-10-19$25,000L
BUILDING - AUTO MU2022-10-02$3,294,282M39$21,117
EQUIP - MUSEUM2022-10-01$11,373M7$406

Investments Land Schedule2 InvestmentsLandSchedule2

Investment Land InvestmentLandGrp (4 entries)

Category Or ItemCategoryOrItemTxtCost Or Other BasisCostOrOtherBasisAmtBook ValueBookValueAmtEOYFMVEOYFMVAmtAccumulated DepreciationAccumulatedDepreciationAmt
LAND$152,500$152,500$152,500
LAND-NEW LIFE$25,000$25,000$25,000
BUILDING - AUTO MU$3,294,282$3,273,165$3,273,165$21,117
EQUIP - MUSEUM$11,373$10,967$10,967$406

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$100LegalFeesAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescBUILDING DEPOSITDesc
BOY Book Value$4,390,993BOYBookValueAmt
EOY Book Value$1,235,362EOYBookValueAmt
EOYFMV$1,235,362EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (13 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
BANK FEES$75$72
MISCELLANEOUS EXPENSES$20,899$20,194
UTILITIES$62,520$61,617
CLEANING$25,700$25,257
MATERIALS$5,094$4,936
INSURANCE$31,156$0
1099 LABOR$5,275$5,275
LANDSCAPING$30,246$29,724
BUSINESS REGISTRATION FEES$5,380$0
MAINTENANCE$11,981$11,774
WEB HOSTING$0$0
OUTSIDE CONTRACT SERVICES$0$0
SUPPLIES$236$228

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
PERMITS AND FEES$0$0
ENGINEERING SERVICES$18,495$18,495

Sales Of Inventory List SalesOfInventoryList

Inventory Sale InventorySaleGrp

FieldValueIRS element (for citing)
CategoryMUSEUM ENTRANCE FEESCategoryTxt
Gross Sales$7,119GrossSalesAmt
Cost Of Goods Sold$0CostOfGoodsSoldAmt
Net$7,119NetAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryREAL ESTATE TAXESCategoryTxt
Amt$84,160Amt
Disbursements Charitable Prps$81,543DisbursementsCharitablePrpsAmt

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