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WALLY FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
WALLY FOUNDATION INC (EIN 34-1992544)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-13
IRS object ID
202323179349100227
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)
Return2023-11-13T08:53:41-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MADELINE G WEINREBE CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line110 E 28TH ST BOX 637AddressLine1Txt
CityBARNEGAT LIGHTCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08006ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN341992544EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE WALLY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWALLBusinessNameControlTxt
Phone9132624246PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 8583AddressLine1Txt
CityPRAIRIE VILLAGECityNm
State AbbreviationKSStateAbbreviationCd
ZIP66208ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonELLEN BRESKYPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone9132624246PhoneNum
Signature2023-11-10SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstELLENPersonFirstNm
Person LastBRESKYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMADELINE G WEINREBE CPAPreparerPersonNm
PTINP00185043PTIN
Phone8568315400PhoneNum
Preparation2023-11-06PreparationDt
Self EmployedYes (X)SelfEmployedInd
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$10,365,990FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$8,040,982ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$5,140InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$5,140InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$32,235DividendsRevAndExpnssAmt
Dividends Net Invst Incm$32,235DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$78,714NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,659,429GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$78,714CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$8,157,071TotalRevAndExpnssAmt
Total Net Invst Incm$116,089TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$1,000AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,000AccountingFeesNetInvstIncmAmt
Taxes Rev And Expnss$40TaxesRevAndExpnssAmt
Taxes Net Invst Incm$40TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$8,927OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$8,927OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$9,967TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$9,967TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$5,100ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$5,100ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$15,067TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$9,967TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$5,100TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$8,142,004ExcessRevenueOverExpensesAmt
Net Investment Income$106,122NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$2,332,235CashBOYAmt
Cash EOY$236,698CashEOYAmt
Cash EOYFMV$236,698CashEOYFMVAmt
Corporate Stock BOY$45,438CorporateStockBOYAmt
Corporate Stock EOY$10,282,979CorporateStockEOYAmt
Corporate Stock EOYFMV$10,129,292CorporateStockEOYFMVAmt
Total Assets BOY$2,377,673TotalAssetsBOYAmt
Total Assets EOY$10,519,677TotalAssetsEOYAmt
Total Assets EOYFMV$10,365,990TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$2,377,673RetainedEarningBOYAmt
Retained Earning EOY$10,519,677RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,377,673TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$10,519,677TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,377,673TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$10,519,677TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,377,673TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$8,142,004ExcessRevenueOverExpensesAmt
Subtotal$10,519,677SubtotalAmt
Tot Net Ast Or Fund Balances EOY$10,519,677TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
SEE ATTACHED SCHWABD$114,441$16,150$98,291$98,291
SEE ATTACHED SCHWABD$1,544,976$1,564,565-$19,589-$19,589
P
P
FieldValueIRS element (for citing)
Capital Gain Net Income$78,714CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,475InvestmentIncomeExciseTaxAmt
Subtotal$1,475SubtotalAmt
Tax Based On Investment Income$1,475TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$209EstimatedPlusOvpmtIncmTxAmt
Extsn Request Income Tax Paid$1,500ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,709TotalPaymentsAndCreditsAmt
Overpayment$234OverpaymentAmt
Applied To ES Tax$234AppliedToESTaxAmt

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 StateKSOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenfalseForm990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNONEWebsiteAddressTxt
Individual With BooksELLEN BRESKYIndividualWithBooksNm
Phone9132624246PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line13411 W 87TH STAddressLine1Txt
CityLEAWOODCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66206ZIPCd
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

FieldValueIRS element (for citing)
PersonELLEN BRESKYPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13411 W 87TH STAddressLine1Txt
CityLEAWOODCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66206ZIPCd
FieldValueIRS element (for citing)
TitlePRESIDENTTitleTxt
Average Hrs Per Wk Devoted To Pos000.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
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$3,065,415AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$159,750AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,225,165TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$3,225,165AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$48,377CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,176,788NetVlNoncharitableAssetsAmt
Minimum Investment Return$158,839MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$158,839MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,475TaxBasedOnInvestmentIncomeAmt
Total Tax$1,475TotalTaxAmt
Distributable Before Adj$157,364DistributableBeforeAdjAmt
Distributable Before Ded$157,364DistributableBeforeDedAmt
Distributable As Adjusted$157,364DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$5,100ExpensesAndContributionsAmt
Qualifying Distributions$5,100QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$157,364DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$15,391ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$17,825ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$51,391ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr1$16,127ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$100,734TotalExcessDistributionCyovAmt
Qualifying Distributions$5,100QualifyingDistributionsAmt
Applied To Current Year$5,100AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$100,734ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$100,734ExcessDistributionCyovAppCYAmt
Undistributed Income CY$51,530UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE ATTACHED SCHEDULEBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1VARIOUSAddressLine1Txt
Address Line2VARIOUSAddressLine2Txt
CityKANSAS CITYCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66208ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationshipTxt
Grant Or Contribution PurposeGENERAL SUPPORTGrantOrContributionPurposeTxt
Amt$5,100Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$5,100TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$5,140RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$32,235RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$78,714RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$116,089RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$116,089TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number4LineNumberTxt
Relationship StatementINTEREST DIVIDENDS & GAINS ON MONIES HELD FOR CONTRIBUTIONRelationshipStatementTxt

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

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT ACCOUNTING FEESCategoryTxt
Amt$1,000Amt
Net Investment Income$1,000NetInvestmentIncomeAmt

Expln Of Non Filing With AG Stmt ExplnOfNonFilingWithAGStmt

FieldValueIRS element (for citing)
ExplanationTHE KANSAS SECRETARY OF STATE AND ATTORNEY GENERAL DO NOT REQUIRE A COPY OF FORM 990-PF TO BE FILED WITH THE KANSAS NOT-FOR-PROFIT ANNUAL REPORT OR WITH THE ATTORNEY GENERAL'S OFFICE. A COPY WILL BE FURNISHED TO THE SECRETARY OF STATE AND / OR ATTORNEY GENERAL UPON THEIR REQUEST.ExplanationTxt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ISHARES RUSSELL 3000 GROWTH INDEX FU
ISHARES RUSSELL 3000 INDEX FUND
GOOGLE INC. CLASS C NON VTG
GOOGLE INC. CLASS A NON VTG
SEE ATTACHED SCHEDULE$10,282,979$10,129,292

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (5 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
POSTAGE$216$216
SUPPLIES$105$105
BANK AND INVESTMENT FEES$6,623$6,623
INSURANCE$1,983$1,983

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationCERTAIN FINANCIAL INFORMATION WAS NOT YET AVAILABLE.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryKANSAS STATE FILING FEECategoryTxt
Amt$40Amt
Net Investment Income$40NetInvestmentIncomeAmt

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