ERNEST C AND MARION R KARRAS FAMILY FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
ERNEST C AND MARION R KARRAS FAMILY FOUNDATION (EIN 27-1530381)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-09-19
IRS object ID
202322629349100007
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)
Return2023-09-19T09:04:44-07:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN362946234PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Barry A Swartz & Associates LtdBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1540 W Frontage Rd Ste 2133AddressLine1Txt
CityNorthfieldCityNm
State AbbreviationILStateAbbreviationCd
ZIP60093ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN271530381EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ERNEST C & MARION R KARRAS FAMILYBusinessNameLine1Txt
Business Name Line2FOUNDATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlERNEBusinessNameControlTxt
Phone6302485418PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line175 Forest Gate CirAddressLine1Txt
CityOak BrookCityNm
State AbbreviationILStateAbbreviationCd
ZIP60523ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonErnest KarrasPersonNm
Person TitleTrusteePersonTitleTxt
Phone6302485418PhoneNum
Signature2023-09-19SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstErnestPersonFirstNm
Person LastKarrasPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBarry SwartzPreparerPersonNm
PTINP00057409PTIN
Phone8476863100PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
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$1,729,853FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$100,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$1,306InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,306InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$1,306InterestOnSavingsAdjNetIncmAmt
Other Income Rev And Expnss$9,852OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$111,158TotalRevAndExpnssAmt
Total Net Invst Incm$1,306TotalNetInvstIncmAmt
Total Adj Net Incm$1,306TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$300LegalFeesRevAndExpnssAmt
Other Expenses Rev And Expnss$298OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$598TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$63,005ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$63,005ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$63,603TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$63,005TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$47,555ExcessRevenueOverExpensesAmt
Net Investment Income$1,306NetInvestmentIncomeAmt
Adjusted Net Income$1,306AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$382,091CashBOYAmt
Cash EOY$401,598CashEOYAmt
Cash EOYFMV$401,597CashEOYFMVAmt
Corporate Stock EOYFMV$644,451CorporateStockEOYFMVAmt
Corporate Bonds EOYFMV$19,677CorporateBondsEOYFMVAmt
Other Assets BOY$636,079OtherAssetsBOYAmt
Other Assets EOY$664,128OtherAssetsEOYAmt
Other Assets EOYFMV$664,128OtherAssetsEOYFMVAmt
Total Assets BOY$1,018,170TotalAssetsBOYAmt
Total Assets EOY$1,065,726TotalAssetsEOYAmt
Total Assets EOYFMV$1,729,853TotalAssetsEOYFMVAmt
Other Liabilities EOY$1OtherLiabilitiesEOYAmt
Total Liabilities EOY$1TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,018,170RetainedEarningBOYAmt
Retained Earning EOY$1,065,725RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,018,170TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,065,725TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,018,170TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,065,726TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,018,170TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$47,555ExcessRevenueOverExpensesAmt
Subtotal$1,065,725SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,065,725TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$18InvestmentIncomeExciseTaxAmt
Subtotal$18SubtotalAmt
Tax Based On Investment Income$18TaxBasedOnInvestmentIncomeAmt
Tax Due$18TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 SatisfiedfalseSection508eRqrSatisfiedInd
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
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Ernest KarrasBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6302485418PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line175 Forest Gate CirAddressLine1Txt
CityOak BrookCityNm
State AbbreviationILStateAbbreviationCd
ZIP60522ZIPCd
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
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Ernest Karras
75 Forest Gate CirOak BrookIL60523Trustee0.00$0
Marion Karras
75 Forest Gate CirOak BrookIL60523Trustee0.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Tax Based On Investment Income$18TaxBasedOnInvestmentIncomeAmt
Total Tax$18TotalTaxAmt
Distributable Before Adj$18DistributableBeforeAdjAmt
Distributable Before Ded$18DistributableBeforeDedAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$63,005ExpensesAndContributionsAmt
Qualifying Distributions$63,005QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Qualifying Distributions$63,005QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$63,005RemainingDistriFromCorpusAmt
Total Corpus$63,005TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$63,005ExcessDistriCyovToNextYrAmt
Excess From Current Year$63,005ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Application Submission Info ApplicationSubmissionInfoGrp

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line170 Forest Gate CirAddressLine1Txt
CityOak BrookCityNm
State AbbreviationILStateAbbreviationCd
ZIP60522ZIPCd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (11 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
International Orthodox Christ
110 West RdBaltimoreMD21204Funds$1,000
St Iakouos Retreat Center
920 224th AveKansasvilleWI53139Church$32,000
Metropolis Philoptohos
2501 S Butterfield RdLombardIL60137Contribution$1,000
Holy Apostles Church
2501 S Wolf RdWestchesterIL60154Contribution$6,000
Benet Academy
2200 Maple AveLisleIL60532Contribution$5,000
Timothy Christian Schools
188 Butterfield RdElmhurstIL60126Contribution$5,000
St John Of The Cross
5005 Wolf RdWestern SpringsIL60558Contribution$1,000
Assumption Church
601 S CentralChicagoIL60044ontribution$5,000
Greek American Nursing Home
220 N First StWheelingIL60070Contribution$1,000
U of I Foundation
1305 W Green StUrbanaIL61802Contribution$5,005
Rush Medical Center Philanthropy
1201 Harrison Street Ste 300ChicagoIL60607Contribution$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$63,005TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,306RelatedOrExemptFunctionIncmAmt

Other Investment Income OtherInvestmentIncomeGrp

FieldValueIRS element (for citing)
Exclusion$9,852ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$9,852ExclusionAmt
Related Or Exempt Function Incm$1,306RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$11,158TotalIncomeProducingActyAmt

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 PersonErnest C KarrasContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line175 Forrest Gate CircleAddressLine1Txt
CityOak BrookCityNm
State AbbreviationILStateAbbreviationCd
ZIP60523ZIPCd
FieldValueIRS element (for citing)
Total Contributions$100,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLegal & AccountingCategoryTxt
Legal Fees$300LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp (3 entries)

EOYFMVEOYFMVAmtDescDescBOY Book ValueBOYBookValueAmtEOY Book ValueEOYBookValueAmt
$664,128
Investments$636,079$644,451
Other$19,677

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
Post Office$156
Taxes$142

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescOther Investment IncomeDesc
Revenue And Expenses Per Books$9,852RevenueAndExpensesPerBooksAmt

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

FieldValueIRS element (for citing)
DescRoundingDesc
EOY Book Value$1EOYBookValueAmt

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