BETA

P AND C CARROLL FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
P AND C CARROLL FOUNDATION (EIN 45-0529796)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-05-11
IRS object ID
202341319349102674
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)
Return2023-05-11T13:24:47-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN453113602PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Britton & Associates CPAs PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line19660 Hillcroft Suite 240AddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN450529796EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE P AND C CARROLL FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPANDBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line19660 HILLCROFT STE 240AddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHARLENE P CARROLLPersonNm
Person TitleSECRETARY AS NEPersonTitleTxt
Phone7132835200PhoneNum
Signature2023-05-02SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstCHARLENEPersonFirstNm
Person LastCARROLLPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMarvin Lynn BrittonPreparerPersonNm
PTINP01351802PTIN
Phone7132835200PhoneNum
Preparation2023-05-11PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
OOB Security Verification00OOBSecurityVerificationCd
Authentication Assurance LevelAAL2AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
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$3,077,578FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$34,205DividendsRevAndExpnssAmt
Dividends Net Invst Incm$34,205DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$446,366NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,255,242GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$446,366CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$480,571TotalRevAndExpnssAmt
Total Net Invst Incm$480,571TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$3,600OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$3,600OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$572TaxesRevAndExpnssAmt
Taxes Net Invst Incm$572TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$38,115OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$38,115OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$42,287TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$42,287TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$584,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$584,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$626,787TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$42,287TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$584,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$146,216ExcessRevenueOverExpensesAmt
Net Investment Income$438,284NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$102,334CashBOYAmt
Cash EOY$166,075CashEOYAmt
Cash EOYFMV$166,075CashEOYFMVAmt
Corporate Stock BOY$2,367,042CorporateStockBOYAmt
Corporate Stock EOY$2,150,261CorporateStockEOYAmt
Corporate Stock EOYFMV$2,911,503CorporateStockEOYFMVAmt
Total Assets BOY$2,469,376TotalAssetsBOYAmt
Total Assets EOY$2,316,336TotalAssetsEOYAmt
Total Assets EOYFMV$3,077,578TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$2,469,376RetainedEarningBOYAmt
Retained Earning EOY$2,316,336RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,469,376TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,316,336TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,469,376TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,316,336TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,469,376TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$146,216ExcessRevenueOverExpensesAmt
Subtotal$2,323,160SubtotalAmt
Other Decreases$6,824OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$2,316,336TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (6 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmt
MORGAN STANLEY ACCT 825 ST PDF ATTP2022-07-012022-12-31$48,314$67,327-$19,013
MORGAN STANLEY ACCT 825 LT PDF ATTP2021-07-012022-12-31$845,306$546,896$298,410
MORGAN STANLEY ACCT 824 ST PDF ATTP2022-07-012022-12-31$7,847$9,494-$1,647
MORGAN STANLEY ACCT 824 LT PDF ATTP2021-07-012022-12-31$82,971$45,010$37,961
MORGAN STGANLEY ACCT 823 LT PDF ATTP2022-07-012022-12-31$41,574$43,775-$2,201
MORGAN STANLEY ACCT 823 LT PDF ATTP2021-07-012022-12-31$229,230$96,374$132,856
FieldValueIRS element (for citing)
Capital Gain Net Income$446,366CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss-$22,861NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$6,092InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$6,092SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$6,092TaxBasedOnInvestmentIncomeAmt
Tax Due$6,092TaxDueAmt

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 StateTXOrgReportOrRegisterStateCd
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
Individual With BooksBRITTON ASSOCIATES CPAS PLLCIndividualWithBooksNm
Phone7132835200PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line19660 HILLCROFT SUITE 240AddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd
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 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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
CHARLENE P CARROLL
9660 HILLCROFTHOUSTONTX77096SECRETARY AS NEEDED0.00$0$0$0
KENNETH CARROLL
9660 HILLCROFTHOUSTONTX77096SECRETARY AS NEEDED0.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1PLEASE NOTE THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES ITS PURPOSE IS TO SUPPPORT BY CONTRIBUTIONS OTHER 501 C 3 ORGANIZATIONSDescription1Txt
Expenses1$0Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$3,915,129AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$134,205AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,049,334TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$4,049,334AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$60,740CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,988,594NetVlNoncharitableAssetsAmt
Minimum Investment Return$199,430MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$199,430MinimumInvestmentReturnAmt
Tax Based On Investment Income$6,092TaxBasedOnInvestmentIncomeAmt
Total Tax$6,092TotalTaxAmt
Distributable Before Adj$193,338DistributableBeforeAdjAmt
Distributable Before Ded$193,338DistributableBeforeDedAmt
Distributable As Adjusted$193,338DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$584,500ExpensesAndContributionsAmt
Qualifying Distributions$584,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$193,338DistributableAsAdjustedAmt
Prior Year12014PriorYear1Yr
Prior Year22013PriorYear2Yr
Prior Year32012PriorYear3Yr
Excess Distribution Cyov Yr5$139,381ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$266,523ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$310,124ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$287,999ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$447,401ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,451,428TotalExcessDistributionCyovAmt
Qualifying Distributions$584,500QualifyingDistributionsAmt
Applied To Current Year$193,338AppliedToCurrentYearAmt
Remaining Distri From Corpus$391,162RemainingDistriFromCorpusAmt
Total Corpus$1,842,590TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$139,381ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,703,209ExcessDistriCyovToNextYrAmt
Excess From Year4$266,523ExcessFromYear4Amt
Excess From Year3$310,124ExcessFromYear3Amt
Excess From Year2$287,999ExcessFromYear2Amt
Excess From Year1$447,401ExcessFromYear1Amt
Excess From Current Year$391,162ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerPHILLIP J CARROLL JRContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonPDF ATTACHEDRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PDF ATTACHEDAddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd
FieldValueIRS element (for citing)
Grant Or Contribution PurposeCHARITYGrantOrContributionPurposeTxt
Amt$584,500Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$584,500TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$34,205ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$446,366ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$480,571ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$480,571TotalIncomeProducingActyAmt

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 (3 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
PDF ATTACHED MOR STAN 141823$0$0
PDF ATTACHED MOR STAN 141824$188,962$286,159
PDF ATTACHED MOR STAN 141825$1,961,299$2,625,344

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail (2 entries)

DescDescAmtAmt
2021 FEDERAL INCOME TAX$6,823
ROUNDING$1

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescINVESTMENT FEESDesc
Revenue And Expenses Per Books$38,115RevenueAndExpensesPerBooksAmt
Net Investment Income$38,115NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryTAX RETURN PREP FEESCategoryTxt
Amt$3,600Amt
Net Investment Income$3,600NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$572Amt
Net Investment Income$572NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.