ERNEST C AND MARION R KARRAS FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
ERNEST C AND MARION R KARRAS FAMILY FOUNDATION (EIN 27-1530381)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-12
IRS object ID
202521329349102472
Schema version
2024v5.0
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)
Return2025-05-12T14:32:09-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN362946234PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BARRY A SWARTZ AND ASSOCIATES LTDBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1540 FRONTAGE RD STE 2133AddressLine1Txt
CityNORTHFIELDCityNm
State AbbreviationILStateAbbreviationCd
ZIP60093ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

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 CIRCLEAddressLine1Txt
CityOAK BROOKCityNm
State AbbreviationILStateAbbreviationCd
ZIP60523ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonERNEST KARRASPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone6302485418PhoneNum
Signature2025-05-12SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBARRY A SWARTZPreparerPersonNm
PTINP00057409PTIN
Phone3128060000PhoneNum
Preparation2025-05-12PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,199,657FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$100,000ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$18,816InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$18,816InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$18,816InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$18,479DividendsRevAndExpnssAmt
Dividends Net Invst Incm$18,479DividendsNetInvstIncmAmt
Dividends Adj Net Incm$18,479DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$3,853NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$3,853GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$3,853CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$141,148TotalRevAndExpnssAmt
Total Net Invst Incm$41,148TotalNetInvstIncmAmt
Total Adj Net Incm$37,295TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$300OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$1,084TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$1,570OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$2,954TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$51,350ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$51,350ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$54,304TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$51,350TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$86,844ExcessRevenueOverExpensesAmt
Net Investment Income$41,148NetInvestmentIncomeAmt
Adjusted Net Income$37,295AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$159,204CashBOYAmt
Cash EOY$152,204CashEOYAmt
Cash EOYFMV$152,204CashEOYFMVAmt
Corporate Stock BOY$952,209CorporateStockBOYAmt
Corporate Stock EOY$1,047,453CorporateStockEOYAmt
Corporate Stock EOYFMV$1,047,453CorporateStockEOYFMVAmt
Total Assets BOY$1,111,413TotalAssetsBOYAmt
Total Assets EOY$1,199,657TotalAssetsEOYAmt
Total Assets EOYFMV$1,199,657TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,111,413RetainedEarningBOYAmt
Retained Earning EOY$1,199,657RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,111,413TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,199,657TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,111,413TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,199,657TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,111,413TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$86,844ExcessRevenueOverExpensesAmt
Other Increases$1,400OtherIncreasesAmt
Subtotal$1,199,657SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,199,657TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$3,853CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$572InvestmentIncomeExciseTaxAmt
Subtotal$572SubtotalAmt
Tax Based On Investment Income$572TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$400ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$400TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$6EsPenaltyAmt
Tax Due$178TaxDueAmt

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
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 BooksERNEST KARRASIndividualWithBooksNm
Phone6302485418PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line175 FOREST GATE CIRCLEAddressLine1Txt
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
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
ERNEST KARRAS
75 FOREST GATE CIRCLEOAK BROOKIL60523TRUSTEE000.00$0$0$0
MARION KARRAS
75 FOREST GATE CIRCLEOAK BROOKIL60523TRUSTEE000.00$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)
Description1TO HELP AND ASSIST WITH RELIGIOUS AND EDUCATIONAL ORGANIZATIONS.Description1Txt
Expenses1$18,300Expenses1Amt
Description2TO HELP AND ASSIST WITH RELIGIOUS AND EDUCATIONAL ORGANIZATIONS.Description2Txt
Expenses2$10,000Expenses2Amt
Description3TO HELP AND ASSIST WITH RELIGIOUS AND EDUCATIONAL ORGANIZATIONS.Description3Txt
Expenses3$5,000Expenses3Amt
Description4TO HELP AND ASSIST WITH RELIGIOUS AND EDUCATIONAL ORGANIZATIONS.Description4Txt
Expenses4$5,000Expenses4Amt

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$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
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)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$51,350ExpensesAndContributionsAmt
Qualifying Distributions$51,350QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$51,350QualifyingDistributionsAmt
Remaining Distri From Corpus$51,350RemainingDistriFromCorpusAmt
Total Corpus$51,350TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$51,350CurrentYearAmt
Year1$59,700Year1Amt
Total$111,050TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$51,350CurrentYearAmt
Year1$59,700Year1Amt
Total$111,050TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonERNEST KARRASRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line175 FOREST GATE CIRCLEAddressLine1Txt
CityOAK BROOKCityNm
State AbbreviationILStateAbbreviationCd
ZIP60522ZIPCd
FieldValueIRS element (for citing)
Recipient Phone6032485418RecipientPhoneNum
Recipient Email AddressINFO@SWARTZMGMT.COMRecipientEmailAddressTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (11 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtBusiness Name Line2RecipientBusinessName/BusinessNameLine2Txt
ASSUMPTION CHURCH
601 S CENTRALCHICAGOIL60644CHURCH$5,000
BENET ACADEMY
2200 MAPLELISLEIL60532ACADEMIC$10,000
HOLY APOSTLE CHURCH
2501 S WOLF ROADWESTCHESTERIL60154CHURCH$5,000
HOLY APOSTLES CHURCH
2501 S WOLF ROADWESTCHESTERIL60154CHURCH$1,000
IOCC
110 WEST ROAD STE 360BALTIMOREMD21201CHARITY$1,250
METRO PHILOPTORHAN
555 E BUTTERFIELD RDLOMBARDIL60148CHARITY$1,300
NATIONAL HELLENIC MUSEUM
333 SOUTH HALSTEDCHICAGOIL60661PRESERVATION$2,500
ST IAKOUOS RETREAT CENTER
920 224TH AVENUEKANSASVILLEWI53139RELIGIOUS$18,300
ST JOHN OF THE CROSS
708 51ST STREETWESTERN SPRINGSIL60558CHURCH$1,000
ST JUDES
501 ST JUDES PLACEMEMPHISTN38105HOSPITAL$1,000
UNIVERSITY OF ILLINOIS
1305 GREEN STREETURBANAIL61801EDUCATIONAL$5,000COLLEGE OF ENGINEERING
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$51,350TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$18,816RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$18,479RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$3,853RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$41,148RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$41,148TotalIncomeProducingActyAmt

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

FieldValueIRS element (for citing)
StockCHARLES SCHWAB INVESTMENTSStockNm
EOY Book Value$1,047,453EOYBookValueAmt
EOYFMV$1,047,453EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
CONSULTING FEES$1,400
POST OFFICE BOX RENTAL$170

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescCHARLES SCHWAB INVESTMENTSDesc
Amt$1,400Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryTAX PREPARATIONCategoryTxt
Amt$300Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTAXESCategoryTxt
Amt$1,084Amt

Comments

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