JOHN AND PATRICIA ADAMS FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
JOHN AND PATRICIA ADAMS FOUNDATION (EIN 20-4480039)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-07-25
IRS object ID
202312069349100721
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)
Return2023-07-25T14:53:02-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN751486711PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PSK LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13001 MEDLIN DR STE 100AddressLine1Txt
CityARLINGTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76015ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN204480039EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE JOHN AND PATRICIA ADAMSBusinessNameLine1Txt
Business Name Line2FOUNDATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlJOHNBusinessNameControlTxt
Phone8175457281PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12350 AIRPORT FREEWAY SUITE 160AddressLine1Txt
CityBEDFORDCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76022ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOHN ADAMSPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8175457281PhoneNum
Signature2023-07-24SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJOHNPersonFirstNm
Person LastADAMSPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKATHY HOWLETTPreparerPersonNm
PTINP00943345PTIN
Phone8176643000PhoneNum
Preparation2023-07-25PreparationDt
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$6,374,314FMVAssetsEOYAmt
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$22,603InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$22,603InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$125,123DividendsRevAndExpnssAmt
Dividends Net Invst Incm$125,123DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$245,368NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$2,970,160GrossSalesPriceAmt
Total Rev And Expnss$393,094TotalRevAndExpnssAmt
Total Net Invst Incm$147,726TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$8,730OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$3,212OtherProfFeesNetInvstIncmAmt
Other Prof Fees Adj Net Incm$280OtherProfFeesAdjNetIncmAmt
Other Prof Fees Dsbrs Chrtbl$5,238OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss$934TaxesRevAndExpnssAmt
Taxes Net Invst Incm$467TaxesNetInvstIncmAmt
Taxes Adj Net Incm$467TaxesAdjNetIncmAmt
Occupancy Rev And Expnss$9,313OccupancyRevAndExpnssAmt
Occupancy Net Invst Incm$3,427OccupancyNetInvstIncmAmt
Occupancy Adj Net Incm$298OccupancyAdjNetIncmAmt
Occupancy Dsbrs Chrtbl$5,588OccupancyDsbrsChrtblAmt
Other Expenses Rev And Expnss$41,977OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$20,989OtherExpensesNetInvstIncmAmt
Other Expenses Adj Net Incm$20,989OtherExpensesAdjNetIncmAmt
Tot Opr Expenses Rev And Expnss$60,954TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$28,095TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$22,034TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$10,826TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$275,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$275,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$335,954TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$28,095TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$22,034TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$285,826TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$57,140ExcessRevenueOverExpensesAmt
Net Investment Income$119,631NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$111,342SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$241,792SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$241,792SavAndTempCashInvstEOYFMVAmt
Acct Rcvbl$5,395AcctRcvblAmt
Acct Rcvbl BOY$4,128AcctRcvblBOYAmt
Acct Rcvbl EOY$5,395AcctRcvblEOYAmt
Acct Rcvbl EOYFMV$5,395AcctRcvblEOYFMVAmt
Prepaid Expenses EOY$177PrepaidExpensesEOYAmt
Prepaid Expenses EOYFMV$177PrepaidExpensesEOYFMVAmt
Corporate Stock BOY$6,516,920CorporateStockBOYAmt
Corporate Stock EOY$6,440,448CorporateStockEOYAmt
Corporate Stock EOYFMV$6,126,950CorporateStockEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$27,475LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$27,475LandBldgEquipAccumDeprecAmt
Total Assets BOY$6,632,390TotalAssetsBOYAmt
Total Assets EOY$6,687,812TotalAssetsEOYAmt
Total Assets EOYFMV$6,374,314TotalAssetsEOYFMVAmt
Accounts Payable BOY$55AccountsPayableBOYAmt
Total Liabilities BOY$55TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$6,632,335RetainedEarningBOYAmt
Retained Earning EOY$6,687,812RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$6,632,335TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$6,687,812TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$6,632,390TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$6,687,812TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$6,632,335TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$57,140ExcessRevenueOverExpensesAmt
Subtotal$6,689,475SubtotalAmt
Other Decreases$1,663OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$6,687,812TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,663InvestmentIncomeExciseTaxAmt
Subtotal$1,663SubtotalAmt
Tax Based On Investment Income$1,663TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$1,840EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$1,840TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$177OverpaymentAmt
Applied To ES Tax$177AppliedToESTaxAmt

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
Website AddressN/AWebsiteAddressTxt
Individual With BooksWAYNE WARDIndividualWithBooksNm
Phone8175457281PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12350 AIRPORT FREEWAY SUITE 160AddressLine1Txt
CityBEDFORDCityNm
State AbbreviationTXStateAbbreviationCd
ZIP76022ZIPCd
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 (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JOHN ADAMS
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022PRESIDENT000.00$0$0$0
PATRICIA ADAMS
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022SECRETARY000.00$0$0$0
JOHN ADAMS JR
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022FORMER VP000.00$0$0$0
LARY SNODGRASS
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022TRUSTEE000.00$0$0$0
SAM P BURFORD JR
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022TRUSTEE000.00$0$0$0
SHERRI ADAMS
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022TRUSTEE000.00$0$0$0
AMANDA BROWN
2350 AIRPORT FREEWAY STE 160BEDFORDTX76022TRUSTEE000.00$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)
Description1THE MISSION OF THE JOHN AND PATRICIA ADAMS FOUNDATION IS TO PROVIDE FUNDING ON A PERPETUAL BASIS TO DESERVING ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS OR EDUCATIONAL PURPOSES, WITH EMPHASIS ON EDUCATION, WITHIN THE MEANING OF SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE.Description1Txt
Expenses1$285,826Expenses1Amt

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$6,668,857AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$205,074AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,873,931TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$6,873,931AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$103,109CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,770,822NetVlNoncharitableAssetsAmt
Minimum Investment Return$338,541MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$338,541MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,663TaxBasedOnInvestmentIncomeAmt
Total Tax$1,663TotalTaxAmt
Distributable Before Adj$336,878DistributableBeforeAdjAmt
Distributable Before Ded$336,878DistributableBeforeDedAmt
Distributable As Adjusted$336,878DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$285,826ExpensesAndContributionsAmt
Qualifying Distributions$285,826QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$336,878DistributableAsAdjustedAmt
Undistributed Income PY$36,265UndistributedIncomePYAmt
Qualifying Distributions$285,826QualifyingDistributionsAmt
Applied To Year1$36,265AppliedToYear1Amt
Applied To Current Year$249,561AppliedToCurrentYearAmt
Undistributed Income CY$87,317UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
HEIDELBERG COLLEGE
310 E MARKET STTIFFINOH44883NONE501(C)3PATRICIA ADAM LECTURE SERIES$100,000
RANGER ACADEMIC ENRICHMENT FDT
PO BOX 179PERRYTONTX79070NONE501(C)3EDUCATIONAL PROGRAMS$35,000
HAPPY HILL FARM
386 NORTH HIGHWAY 144GRANBURYTX76048NONE501(C)3EDUCATIONAL PROGRAMS$20,000
CHILD CARE ASSOCIATES
3000 E BELKNAP STFORT WORTHTX76111NONE501(C)3PREK CHILD PARTNERSHIP$70,000
SEEDS OF LEARNING
PO BOX 5831PAGOSA SPRINGSCO81147NONE501(C)3ENDOWMENT FUND$50,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$275,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$22,603ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$125,123ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$245,368RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$147,726ExclusionAmt
Related Or Exempt Function Incm$245,368RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$393,094TotalIncomeProducingActyAmt

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

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (2 entries)

AssetAssetDescHow AcquiredHowAcquiredTxtGross Sales PriceGrossSalesPriceAmtBasisBasisAmtTotal NetTotalNetAmt
SECURITY SALESPURCHASE$2,955,926$2,724,792$231,134
SECURITY SALESPURCHASE$14,234$14,234

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockMUTUAL FUNDS - MERRILL LYNCHStockNm
EOY Book Value$6,440,448EOYBookValueAmt
EOYFMV$6,126,950EOYFMVAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemACCUMULATED DEPRECIATIONCategoryOrItemTxt
Cost Or Other Basis$27,475CostOrOtherBasisAmt
Accumulated Depreciation$27,475AccumulatedDepreciationAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescTAX EXPENSEDesc
Amt$1,663Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmt
EXPENSES
INVESTMENT MANAGEMENT FEES$41,977$20,989$20,989

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
ACCOUNTING$1,650$607$53$990
CONSULTING$7,080$2,605$227$4,248

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$934Amt
Net Investment Income$467NetInvestmentIncomeAmt
Adjusted Net Income$467AdjustedNetIncomeAmt

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