LIBERTY FOUNDATION INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: LIBERTY FOUNDATION INC (EIN 72-1249256)
Tax period: 2022-01-01 to 2022-12-31
Filed: 2023-07-07
IRS object ID: 202301889349300110
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
Form 990
Schedule A
Schedule B
Schedule I
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2023-07-07T10:24:28-04:00	ReturnTs
Tax Period End	2022-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	720877929	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	BRUNO & TERVALON LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	4298 ELYSIAN FIELDS AVE A	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	701223800	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	721249256	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	LIBERTY FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	LIBE	BusinessNameControlTxt
Phone	5042405264	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	P O BOX 60131	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	701600131	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	ALDEN J MCDONALD	PersonNm
Person Title	PRES/SEC'Y.	PersonTitleTxt
Phone	5042405167	PhoneNum
Signature	2023-06-29	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	ALDEN	PersonFirstNm
Person Last	MCDONALD	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	false	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	WALDO J MORET JR	PreparerPersonNm
PTIN	P01239199	PTIN
Phone	3374787902	PhoneNum
Preparation	2023-07-05	PreparationDt

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	ALDEN J MCDONALD	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	6600 PLAZA DR	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70126	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$1,104,378	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1993	FormationYr
Legal Domicile State	LA	LegalDomicileStateCd
Activity Or Mission	COMMUNITY IMPROVEMENT	ActivityOrMissionDesc
Voting Members Governing Body	2	VotingMembersGoverningBodyCnt
Voting Members Independent	2	VotingMembersIndependentCnt
Total Employee	0	TotalEmployeeCnt
Total Gross UBI	$0	TotalGrossUBIAmt
CY Contributions Grants	$125,000	CYContributionsGrantsAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	$50,545	PYInvestmentIncomeAmt
CY Investment Income	$47,140	CYInvestmentIncomeAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$50,545	PYTotalRevenueAmt
CY Total Revenue	$172,140	CYTotalRevenueAmt
CY Grants And Similar Paid	$120,000	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid	$0	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$82,500	PYOtherExpensesAmt
CY Other Expenses	$40,131	CYOtherExpensesAmt
PY Total Expenses	$82,500	PYTotalExpensesAmt
CY Total Expenses	$160,131	CYTotalExpensesAmt
PY Revenues Less Expenses	-$31,955	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$12,009	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,701,275	TotalAssetsBOYAmt
Total Assets EOY	$1,352,388	TotalAssetsEOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,701,275	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,352,388	NetAssetsOrFundBalancesEOYAmt
Mission	COMMUNITY IMPROVEMENT	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$135,956	ExpenseAmt
Grant	$120,000	GrantAmt
Desc	DONATIONS TO VARIOUS COMMUNITY SCHOOLS,ORGANIZATIONS AND INDIVIDUALS.	Desc
Total Program Service Expenses	$135,956	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Donor Rstr Or Quasi Endowments	false	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	false	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	false	ReportOtherLiabilitiesInd
Include FIN48 Footnote	false	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	false	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	Yes (true)	GrantsToOrganizationsInd
Grants To Individuals	false	GrantsToIndividualsInd
Schedule J Required	false	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	false	ScheduleORequiredInd
IRP Document	0	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Employee	0	EmployeeCnt
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Governing Body Voting Members	2	GoverningBodyVotingMembersCnt
Independent Voting Member	2	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	false	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	false	ConflictOfInterestPolicyInd
Whistleblower Policy	false	WhistleblowerPolicyInd
Document Retention Policy	false	DocumentRetentionPolicyInd
Compensation Process CEO	false	CompensationProcessCEOInd
Compensation Process Other	false	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	TRAVIS MCDONALD	PersonNm
Phone	5042405102	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	6600 PLAZA DR	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70127	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (2 entries)

TitleTitleTxt	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
RONALD BURNS
VICE-PRESIDE	Yes (X)	$0	$0	$0
ALDEN J MCDONALD
PRES/SEC'Y.	Yes (X)	$0	$0	$0

Field	Value	IRS element (for citing)
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	false	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd
All Other Contributions	$125,000	AllOtherContributionsAmt
Total Contributions	$125,000	TotalContributionsAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$26,399	TotalRevenueColumnAmt
Exclusion	$26,399	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$952,979	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$932,238	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$20,741	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$20,741	TotalRevenueColumnAmt
Related Or Exempt Func Income	$20,741	RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$172,140	TotalRevenueColumnAmt
Related Or Exempt Func Income	$20,741	RelatedOrExemptFuncIncomeAmt
Exclusion	$26,399	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$120,000	TotalAmt
Program Services	$120,000	ProgramServicesAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$24,175	TotalAmt
Management And General	$24,175	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$2,456	TotalAmt
Program Services	$2,456	ProgramServicesAmt

Other Expenses OtherExpensesGrp

Field	Value	IRS element (for citing)
Desc	COMMUNITY OUTREACH	Desc
Total	$13,500	TotalAmt
Program Services	$13,500	ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$160,131	TotalAmt
Program Services	$135,956	ProgramServicesAmt
Management And General	$24,175	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$15,458	BOYAmt
EOY	$114,647	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$1,685,817	BOYAmt
EOY	$1,237,741	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,701,275	BOYAmt
EOY	$1,352,388	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,701,275	BOYAmt
EOY	$1,352,388	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,701,275	BOYAmt
EOY	$1,352,388	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,701,275	BOYAmt
EOY	$1,352,388	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$12,009	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$360,896	NetUnrlzdGainsLossesInvstAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	false	FSAuditedInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Public Organization170	Yes (X)	PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year	$125,000	CurrentTaxYearAmt
Total	$125,000	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year	$125,000	CurrentTaxYearAmt
Total	$125,000	TotalAmt

Field	Value	IRS element (for citing)
Public Support Total170	$125,000	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year	$26,399	CurrentTaxYearAmt
Total	$26,399	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$151,399	TotalSupportAmt
Public Support CY170	0.82560	PublicSupportCY170Pct
Thirty Thr Pct Suprt Tests CY170	Yes (X)	ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	false	GrantRecordsMaintainedInd

Recipient Table RecipientTable (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Cash GrantCashGrantAmt	Purpose Of GrantPurposeOfGrantTxt
EDGAR DOOKY CHASE FOUNDATION
P O BOX 791313	NEW ORLEANS	LA	70179	$10,000
ST AUGUSTINE HIGH SCHOOL
2600 A P TUREAUD AVE	NEW ORLEANS	LA	70119	$10,000	EDUCATION
SIGMA PIPHI FOUNDATION
				$100,000

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE I, PAGE 1, PART I, LINE 2	FormAndLineReferenceDesc
Explanation	THE LIBERTY FOUNDATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS IS TO MAKE ANNUAL SITE VISITS. THE GRANT RECIPIENT IS ALSO REQUIRED TO PRESENT QUARTERLY PERFORMANCE REPORTS.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11B	NO REVIEW WAS OR WILL BE CONDUCTED.
FORM 990, PAGE 6, PART VI, LINE 19	NO DOCUMENTS AVAILABLE TO THE PUBLIC

LIBERTY FOUNDATION INC: Form 990, tax year 2022

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Preparer Person PreparerPersonGrp

Form 990 IRS990

US Address USAddress

Books In Care Of Detail BooksInCareOfDetail

US Address USAddress

Form990 Part VII Section A Form990PartVIISectionAGrp (2 entries)

Investment Income InvestmentIncomeGrp

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Gain Or Loss GainOrLossGrp

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Total Revenue TotalRevenueGrp

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Office Expenses OfficeExpensesGrp

Other Expenses OtherExpensesGrp

Total Functional Expenses TotalFunctionalExpensesGrp

Cash Non Interest Bearing CashNonInterestBearingGrp

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Total Assets TotalAssetsGrp

Total Liabilities TotalLiabilitiesGrp

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Schedule A IRS990ScheduleA

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Total Calendar Year170 TotalCalendarYear170Grp

Gross Investment Income170 GrossInvestmentIncome170Grp

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Contributor Business Name ContributorBusinessName

Contributor US Address ContributorUSAddress

Schedule I IRS990ScheduleI

Recipient Table RecipientTable (3 entries)

Supplemental Information Detail SupplementalInformationDetail

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

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