PROSPECT COMMUNITY FDN INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
PROSPECT COMMUNITY FDN INC (EIN 83-3090105)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-05-15
IRS object ID
202331359349101848
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 ReturnHeader

FieldValueIRS element (for citing)
Return2023-05-15T10:50:16-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN370623191PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LARSSON WOODYARD & HENSON LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 426AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP619440426ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN833090105EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PROSPECT COMMUNITY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPROSBusinessNameControlTxt
Phone2174654154PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonERIC VOLKMANNPersonNm
Person TitleCHAIRMANPersonTitleTxt
Phone2174654154PhoneNum
Signature2023-05-12SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstERICPersonFirstNm
Person LastVOLKMANNPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARLA D COFFMANPreparerPersonNm
PTINP00973603PTIN
Phone2174656494PhoneNum
Preparation2023-05-15PreparationDt
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$1,828,964FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$250,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$699InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$699InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$699InterestOnSavingsAdjNetIncmAmt
Total Rev And Expnss$250,699TotalRevAndExpnssAmt
Total Net Invst Incm$699TotalNetInvstIncmAmt
Total Adj Net Incm$699TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$135LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$135LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$3,500AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$3,500AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$4TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$1,601OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$1,601OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$5,240TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,236TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$5,868ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$5,868ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$11,108TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$11,104TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$239,591ExcessRevenueOverExpensesAmt
Net Investment Income$699NetInvestmentIncomeAmt
Adjusted Net Income$699AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$645,880CashBOYAmt
Cash EOY$319,664CashEOYAmt
Cash EOYFMV$319,664CashEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$918,212LandBldgEquipCostOrOtherBssAmt
Land BOY$918,212LandBOYAmt
Land EOY$918,212LandEOYAmt
Land EOYFMV$918,212LandEOYFMVAmt
Other Assets BOY$25,281OtherAssetsBOYAmt
Other Assets EOY$591,088OtherAssetsEOYAmt
Other Assets EOYFMV$591,088OtherAssetsEOYFMVAmt
Total Assets BOY$1,589,373TotalAssetsBOYAmt
Total Assets EOY$1,828,964TotalAssetsEOYAmt
Total Assets EOYFMV$1,828,964TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$1,589,373NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$1,828,964NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$1,589,373TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,828,964TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,589,373TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,828,964TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,589,373TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$239,591ExcessRevenueOverExpensesAmt
Subtotal$1,828,964SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,828,964TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$10InvestmentIncomeExciseTaxAmt
Subtotal$10SubtotalAmt
Tax Based On Investment Income$10TaxBasedOnInvestmentIncomeAmt
Tax Due$10TaxDueAmt

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 StateILOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksCAROL HUGHESIndividualWithBooksNm
Phone2174654154PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
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
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ERIC VOLKMANN
PO BOX 400PARISIL61944CHAIRMAN2.00$0$0$0
JENNELLE ADAMS
PO BOX 400PARISIL61944VICE CHAIRMA1.00$0$0$0
CAROL HUGHES
PO BOX 400PARISIL61944TREASURER1.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1EXPENDITURES RELATED TO DEVELOPING COMMUNITY PARKS AND OTHER BEAUTIFICATION PROJECTS.Description1Txt
Expenses1$11,104Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$382,115AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$382,115TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$382,115AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$5,732CashDeemedCharitableAmt
Net Vl Noncharitable Assets$376,383NetVlNoncharitableAssetsAmt
Minimum Investment Return$18,819MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$11,104ExpensesAndContributionsAmt
Qualifying Distributions$11,104QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$11,104QualifyingDistributionsAmt
Remaining Distri From Corpus$11,104RemainingDistriFromCorpusAmt
Total Corpus$11,104TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Private Operating Fndtn Ruling2021-03-02PrivateOperatingFndtnRulingDt
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$699CurrentYearAmt
Year1$279Year1Amt
Total$978TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

FieldValueIRS element (for citing)
Current Year$594CurrentYearAmt
Year1$237Year1Amt
Total$831TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$11,104CurrentYearAmt
Year1$13,396Year1Amt
Year2$115,697Year2Amt
Year3$25Year3Amt
Total$140,222TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$11,104CurrentYearAmt
Year1$13,396Year1Amt
Year2$115,697Year2Amt
Year3$25Year3Amt
Total$140,222TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$12,546CurrentYearAmt
Year1$15,579Year1Amt
Year2$9,410Year2Amt
Year3$13,231Year3Amt
Total$50,766TotalAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonPROSPECT BANKRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
FieldValueIRS element (for citing)
Recipient Phone2144654154RecipientPhoneNum
Form And Info And MaterialsWRITTEN APPEALFormAndInfoAndMaterialsTxt
Submission DeadlinesNOSubmissionDeadlinesTxt
Restrictions On AwardsDEVELOPMENT AND OPERATION OF PUBLIC PARKS, AMPHITHEATER AND COMMUNITY PARKS, COMMUNITY GARDEN AND OTHER COMMUNITY BEAUTIFICATION PROJECTS.RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtAddress Line2RecipientUSAddress/AddressLine2TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
VILLAGE OF ASHMORE
10 WEST ASHMORE STPO BOX 99ASHMOREIL61912N/ANON-PFGENERAL SUPPORT$1,768
ST MARY'S CATHOLIC CHURCH
528 N MAIN STPARISIL61944N/A501(C)(3)CHURCH REMODEL$4,100
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$5,868TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$699ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$699ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$699TotalIncomeProducingActyAmt

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 Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1EDGAR COUNTY BANCSHARES INCBusinessNameLine1Txt

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
FieldValueIRS element (for citing)
Total Contributions$250,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$3,500Amt
Disbursements Charitable Prps$3,500DisbursementsCharitablePrpsAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemLANDCategoryOrItemTxt
Cost Or Other Basis$918,212CostOrOtherBasisAmt
Book Value$918,212BookValueAmt
EOYFMV$918,212EOYFMVAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$135LegalFeesAmt
Disbursements Charitable Prps$135DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescPAVILION IN PROGRESSDesc
BOY Book Value$25,281BOYBookValueAmt
EOY Book Value$591,088EOYBookValueAmt
EOYFMV$591,088EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (6 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
FILING FEES$10$10
INSURANCE$895$895
IL ATTY GEN FILING FEE$15$15
UTILITIES$314$314
SUBSCRIPTIONS$367$367

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL TAX PAIDCategoryTxt
Amt$4Amt

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