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PATTERSON FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
PATTERSON FAMILY FOUNDATION (EIN 35-6975288)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-15
IRS object ID
202521359349103807
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)
Return2025-05-15T14:17:54-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN134125221PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PEYSER & ALEXANDER MGMT INCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1500 5TH AVE STE 5120AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10110ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN356975288EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE PATTERSON FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPATTBusinessNameControlTxt
Phone2127646455PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1500 FIFTH AVE STE 5120AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10110ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJAMES B PATTERSONPersonNm
Person TitleMANAGERPersonTitleTxt
Phone2127646455PhoneNum
Signature2025-05-15SignatureDt
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 PersonMARK WEISSPreparerPersonNm
PTINP00642536PTIN
Phone2127646455PhoneNum
Preparation2025-05-15PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$73,639,155FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,711,270ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$44,080InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$44,080InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$1,672,852DividendsRevAndExpnssAmt
Dividends Net Invst Incm$1,672,852DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$1,709,787NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$22,129,905GrossSalesPriceAmt
Total Rev And Expnss$6,137,989TotalRevAndExpnssAmt
Total Net Invst Incm$1,716,932TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$248,188OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$248,188OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$65,000TaxesRevAndExpnssAmt
Trav Conf Meeting Rev And Expnss$25,206TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Dsbrs Chrtbl$25,206TravConfMeetingDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$338,394TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$248,188TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$25,206TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$6,803,410ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$6,803,410ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$7,141,804TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$248,188TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$6,828,616TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$1,003,815ExcessRevenueOverExpensesAmt
Net Investment Income$1,468,744NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$2,902,038CashBOYAmt
Cash EOY$2,262,046CashEOYAmt
Cash EOYFMV$2,262,046CashEOYFMVAmt
Corporate Stock BOY$21,727,594CorporateStockBOYAmt
Corporate Stock EOY$17,403,575CorporateStockEOYAmt
Corporate Stock EOYFMV$42,832,161CorporateStockEOYFMVAmt
Corporate Bonds BOY$23,973,741CorporateBondsBOYAmt
Corporate Bonds EOY$21,542,946CorporateBondsEOYAmt
Corporate Bonds EOYFMV$20,719,051CorporateBondsEOYFMVAmt
Other Assets BOY$2,014,302OtherAssetsBOYAmt
Other Assets EOY$7,602,923OtherAssetsEOYAmt
Other Assets EOYFMV$7,825,897OtherAssetsEOYFMVAmt
Total Assets BOY$50,617,675TotalAssetsBOYAmt
Total Assets EOY$48,811,490TotalAssetsEOYAmt
Total Assets EOYFMV$73,639,155TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$50,617,675RetainedEarningBOYAmt
Retained Earning EOY$48,811,490RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$50,617,675TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$48,811,490TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$50,617,675TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$48,811,490TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$50,617,675TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$1,003,815ExcessRevenueOverExpensesAmt
Other Increases$416,582OtherIncreasesAmt
Subtotal$50,030,442SubtotalAmt
Other Decreases$1,218,952OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$48,811,490TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$20,416InvestmentIncomeExciseTaxAmt
Subtotal$20,416SubtotalAmt
Tax Based On Investment Income$20,416TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$78,231EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$78,231TotalPaymentsAndCreditsAmt
Overpayment$57,815OverpaymentAmt
Applied To ES Tax$57,815AppliedToESTaxAmt

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 StateFLOrgReportOrRegisterStateCd
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 Line1PEYSER AND ALEXANDER MANAGEMENT INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127646455PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1500 FIFTH AVE 4300AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10110ZIPCd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JAMES B PATTERSON
C/O PEYSER 500 FIFTH AVE STE 5120NEW YORKNY10110MANAGER000.00$0$0$0
SUSAN SOLIE PATTERSON
C/O PEYSER 500 FIFTH AVE STE 5120NEW YORKNY10110TRUSTEE000.00$0$0$0
JACK PATTERSON
C/O PEYSER 500 FIFTH AVE STE 5120NEW YORKNY10110TRUSTEE000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

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$65,434,855AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$2,282,214AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$2,844,713FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$70,561,782TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$70,561,782AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,058,427CashDeemedCharitableAmt
Net Vl Noncharitable Assets$69,503,355NetVlNoncharitableAssetsAmt
Minimum Investment Return$3,475,168MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$3,475,168MinimumInvestmentReturnAmt
Tax Based On Investment Income$20,416TaxBasedOnInvestmentIncomeAmt
Total Tax$20,416TotalTaxAmt
Distributable Before Adj$3,454,752DistributableBeforeAdjAmt
Distributable Before Ded$3,454,752DistributableBeforeDedAmt
Distributable As Adjusted$3,454,752DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$6,828,616ExpensesAndContributionsAmt
Qualifying Distributions$6,828,616QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$3,454,752DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$7,935,890ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$5,528,995ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$961,162ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$5,540,456ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,845,902ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$21,812,405TotalExcessDistributionCyovAmt
Qualifying Distributions$6,828,616QualifyingDistributionsAmt
Applied To Current Year$3,454,752AppliedToCurrentYearAmt
Remaining Distri From Corpus$3,373,864RemainingDistriFromCorpusAmt
Total Corpus$25,186,269TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$7,935,890ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$17,250,379ExcessDistriCyovToNextYrAmt
Excess From Year4$5,528,995ExcessFromYear4Amt
Excess From Year3$961,162ExcessFromYear3Amt
Excess From Year2$5,540,456ExcessFromYear2Amt
Excess From Year1$1,845,902ExcessFromYear1Amt
Excess From Current Year$3,373,864ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonSEE ATTACHEDRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1C/O PEYSER 500 FIFTH AVEAddressLine1Txt
Address Line2STE 4300AddressLine2Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10110ZIPCd
FieldValueIRS element (for citing)
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeEDUCATIONAL & SCHOLARSHIP SUPPORTGrantOrContributionPurposeTxt
Amt$6,803,410Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$6,803,410TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$44,080ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,672,852ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,709,787ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$3,426,719ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$3,426,719TotalIncomeProducingActyAmt

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 PersonJAMES PATTERSONContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1500 FIFTH AVE STE 5120AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10110ZIPCd
FieldValueIRS element (for citing)
Total Contributions$2,711,270TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp (5 entries)

ContributorContributorNumNoncash PropertyNoncashPropertyDescFair Market ValueFairMarketValueAmtReceivedReceivedDt
13,207 SHS IEFA$211,3602024-12-20
11,524 SHS XLV$222,5422024-05-20
12,804 SHS XLI$352,2812024-05-20
12,648 SHS IWD$1,547,1272024-05-20
1704 SHS VGT$377,9602024-05-20

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (7 entries)

AssetAssetDescHow AcquiredHowAcquiredTxtGross Sales PriceGrossSalesPriceAmtBasisBasisAmtTotal NetTotalNetAmt
JP MORGAN 93009PURCHASE$4,207,394$3,115,134$1,092,260
JP MORGAN 34004PURCHASE$106,616$95,697$10,919
JP MORGAN 34004PURCHASE$218,702$195,567$23,135
JP MORGAN 35001PURCHASE$122,338$119,258$3,080
JP MORGAN 35001PURCHASE$467,218$482,418-$15,200
JP MORGAN 59001PURCHASE$7,386,102$6,908,459$477,643
JP MORGAN 59001PURCHASE$9,621,535$9,503,585$117,950

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (4 entries)

BondBondNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
JP MORGAN 35001$1,500,802$1,490,266
JP MORGAN 59001$18,506,007$17,698,003
JP MORGAN 93009$264,643$259,288
JP MORGAN 34000$1,271,494$1,271,494

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
JP MORGAN 21006$532,037$392,544
JP MORGAN 35001$254,834$228,719
JP MORGAN 59001$12,281,867$22,945,340
UBS 50943$2,300,635$16,950,422
JP MORGAN 34004$2,034,202$2,315,136

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp (2 entries)

DescDescBOY Book ValueBOYBookValueAmtEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
JP MORGAN 21006$2,014,302$2,874,417$3,097,391
JP MORGAN 34000$4,728,506$4,728,506

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescEXCESS OF FMV OVER COST BASIS SECURTIES RECEIVEDDesc
Amt$1,218,952Amt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail (2 entries)

DescDescAmtAmt
COST BASIS ADJUSTMENTS FOR PY$280,249
WASH SALE ADJUSTMENTS$136,333

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryINVESTMENT ADVISORY FEESCategoryTxt
Amt$248,188Amt
Net Investment Income$248,188NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL TAXCategoryTxt
Amt$65,000Amt

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