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RECTOR FAMILY FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
RECTOR FAMILY FOUNDATION (EIN 83-3743765)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-08
IRS object ID
202333129349101943
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)
Return2023-11-08T16:29:19-06:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13333 New Hyde Park Rd Ste 406AddressLine1Txt
CityNew Hyde ParkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN833743765EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Rector Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlRECTBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonAnne SambyalPersonNm
Person TitleTreasurerPersonTitleTxt
Phone8008391754PhoneNum
Signature2023-11-01SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstAnnePersonFirstNm
Person LastSambyalPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
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$4,408,567FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$15,721InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$15,721InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$60,529DividendsRevAndExpnssAmt
Dividends Net Invst Incm$60,529DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$76,250TotalRevAndExpnssAmt
Total Net Invst Incm$76,250TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$46,350CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$46,350CompOfcrDirTrstDsbrsChrtblAmt
Pension Empl Bnft Rev And Expnss$3,783PensionEmplBnftRevAndExpnssAmt
Pension Empl Bnft Dsbrs Chrtbl$3,783PensionEmplBnftDsbrsChrtblAmt
Taxes Rev And Expnss$1,400TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$23,901OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$23,901OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$75,434TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$74,034TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$192,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$192,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$267,434TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$266,034TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$191,184ExcessRevenueOverExpensesAmt
Net Investment Income$76,250NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$2,388,907SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,102,792SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,102,792SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$2,464,495CorporateStockBOYAmt
Corporate Stock EOY$3,559,426CorporateStockEOYAmt
Corporate Stock EOYFMV$3,305,775CorporateStockEOYFMVAmt
Total Assets BOY$4,853,402TotalAssetsBOYAmt
Total Assets EOY$4,662,218TotalAssetsEOYAmt
Total Assets EOYFMV$4,408,567TotalAssetsEOYFMVAmt
Loans From Officers BOY$2,107LoansFromOfficersBOYAmt
Loans From Officers EOY$2,107LoansFromOfficersEOYAmt
Total Liabilities BOY$2,107TotalLiabilitiesBOYAmt
Total Liabilities EOY$2,107TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$4,851,295RetainedEarningBOYAmt
Retained Earning EOY$4,660,111RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$4,851,295TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,660,111TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,853,402TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,662,218TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,851,295TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$191,184ExcessRevenueOverExpensesAmt
Subtotal$4,660,111SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,660,111TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,060InvestmentIncomeExciseTaxAmt
Subtotal$1,060SubtotalAmt
Tax Based On Investment Income$1,060TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$821EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$300ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,121TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt
Overpayment$61OverpaymentAmt
Applied To ES Tax$61AppliedToESTaxAmt

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 StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundYes (true)DonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
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 PrsnYes (true)PayCompDisqualifiedPrsnInd
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 (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Aaron Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
April Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Sec1.0$0$0$0
Christian Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
Curtis Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Pres1.0$0$0$0
Julia Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
Anne Sambyal
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Treas20.0$46,350$0$0
Troy Sambyal
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$3,086,729AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,544,553AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,631,282TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$4,631,282AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$69,469CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,561,813NetVlNoncharitableAssetsAmt
Minimum Investment Return$228,091MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$228,091MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,060TaxBasedOnInvestmentIncomeAmt
Total Tax$1,060TotalTaxAmt
Distributable Before Adj$227,031DistributableBeforeAdjAmt
Distributable Before Ded$227,031DistributableBeforeDedAmt
Distributable As Adjusted$227,031DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$266,034ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$266,034QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$227,031DistributableAsAdjustedAmt
Prior Year12020PriorYear1Yr
Prior Year22019PriorYear2Yr
Prior Year32018PriorYear3Yr
Excess Distribution Cyov Yr1$30,798ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$30,798TotalExcessDistributionCyovAmt
Qualifying Distributions$266,034QualifyingDistributionsAmt
Applied To Current Year$227,031AppliedToCurrentYearAmt
Remaining Distri From Corpus$39,003RemainingDistriFromCorpusAmt
Total Corpus$69,801TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$69,801ExcessDistriCyovToNextYrAmt
Excess From Year1$30,798ExcessFromYear1Amt
Excess From Current Year$39,003ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerApril RectorContributingManagerNm
Contributing ManagerCurtis RectorContributingManagerNm
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
CHRIS CENTER INC
1721 WOOD VALLEY DRCARMELIN46032N/APCGeneral & Unrestricted$50,000
FIDELITY INVESTMENTS CHARITABLE GIFT FUND
PO BOX 770001CINCINNATIOH45277N/APCDONOR ADVISER FUND - CURTIS & APRIL RECTOR FAMILY CHARITABLE FUND$100,000
INDIANAPOLIS PUBLIC SCHOOLS EDUCATION FOUNDATION I
120 EAST WALNUT ST 116INDIANAPOLISIN46204N/APCGeneral & Unrestricted$10,000
LOVE LUCAS INC
PO BOX 17521INDIANAPOLISIN46217N/APCGeneral & Unrestricted$2,000
RENEWABLE HOPE INC
PO BOX 450PENDLETONIN46064N/APCGeneral & Unrestricted$30,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$192,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$15,721ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$60,529ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$76,250ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$76,250TotalIncomeProducingActyAmt

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

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (11 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
PRUDENTIAL JENNISON INTL OPP$372,743$241,835
CAUSEWAY INTERNATIONAL VALUE F$253,134$264,314
DODGE & COX INCOME FUND$275,278$244,379
DOUBLELINE TOTAL RETURN BOND$423,857$360,271
HARDING LOEVNER INSTITUTIONAL$265,240$213,076
INVESCO S&P 500 EQUAL WEIGHT E$275,545$326,994
ISHARE SP SMALL CAP 600 INDEX$185,489$204,990
LAZARD INTL STRATEGY EQUITY PO$249,439$227,491
METROPOLITAN WEST RETURN BOND$424,647$357,834
SPDR S&P 500 ETF TRUST$569,499$615,712
VANGUARD SHORT TERM CORPORATE$264,555$248,879

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

FieldValueIRS element (for citing)
Lender PersonANNE SAMBYALLenderPersonNm
Loan Original$2,107LoanOriginalAmt
Balance Due$2,107BalanceDueAmt
Note2021-11NoteDt
Repayment TermsN/ARepaymentTermsTxt
Interest0.InterestRt
Security Provided BorrowerNONESecurityProvidedBorrowerTxt
Loan PurposeCHARITABLELoanPurposeTxt
Lender ConsiderationAPPAREL, ELECTRONICS, SPORTING GOODS, TOYS, ETC.LenderConsiderationDesc

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$23,876$23,876
State or Local Filing Fees$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
990-PF Estimated Tax for 2022$700
990-PF Extension for 2021$700

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