GROWING TREE FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
GROWING TREE FOUNDATION INC (EIN 46-1533212)
Tax period
2022-07-01 to 2022-10-26
Filed
2023-11-14
IRS object ID
202333189349104643
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)
Return2023-11-14T16:34:42-06:00ReturnTs
Tax Period End2022-10-26TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN331197384PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ANDERSEN TAX LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11200 FIFTH AVENUEAddressLine1Txt
CitySEATTLECityNm
State AbbreviationWAStateAbbreviationCd
ZIP98101ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461533212EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GROWING TREE FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGROWBusinessNameControlTxt
Phone2062237000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1CO LANE POWELL 1420 5TH AVE 4200AddressLine1Txt
CitySEATTLECityNm
State AbbreviationWAStateAbbreviationCd
ZIP981012375ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHARLES M DRACKETT JRPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2062237000PhoneNum
Signature2023-11-14SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstCHARLESPersonFirstNm
Person LastDRACKETT JRPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonALINA DAVISPreparerPersonNm
PTINP02473513PTIN
Phone2065777880PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Final ReturnYes (X)FinalReturnInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$0FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$265InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$265InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$21,901DividendsRevAndExpnssAmt
Dividends Net Invst Incm$21,901DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$22,166TotalRevAndExpnssAmt
Total Net Invst Incm$22,166TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Other Prof Fees Rev And Expnss$3,843OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$3,843OtherProfFeesNetInvstIncmAmt
Other Prof Fees Dsbrs Chrtbl$0OtherProfFeesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$3,843TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$3,843TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$3,843TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$3,843TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$18,323ExcessRevenueOverExpensesAmt
Net Investment Income$18,323NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$15,178CashBOYAmt
US Government Obligations BOY$74,331USGovernmentObligationsBOYAmt
US Government Obligations EOY$0USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV$0USGovtObligationsEOYFMVAmt
Corporate Stock BOY$3,252,892CorporateStockBOYAmt
Corporate Stock EOY$0CorporateStockEOYAmt
Corporate Stock EOYFMV$0CorporateStockEOYFMVAmt
Corporate Bonds BOY$385,046CorporateBondsBOYAmt
Corporate Bonds EOY$0CorporateBondsEOYAmt
Corporate Bonds EOYFMV$0CorporateBondsEOYFMVAmt
Other Investments BOY$1,746,850OtherInvestmentsBOYAmt
Other Investments EOY$0OtherInvestmentsEOYAmt
Other Investments EOYFMV$0OtherInvestmentsEOYFMVAmt
Total Assets BOY$5,474,297TotalAssetsBOYAmt
Total Assets EOY$0TotalAssetsEOYAmt
Total Assets EOYFMV$0TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$0CapitalStockBOYAmt
Capital Stock EOY$0CapitalStockEOYAmt
Additional Paid In Capital BOY$0AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY$0AdditionalPaidInCapitalEOYAmt
Retained Earning BOY$5,474,297RetainedEarningBOYAmt
Retained Earning EOY$0RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$5,474,297TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$0TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$5,474,297TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$0TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$5,474,297TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$18,323ExcessRevenueOverExpensesAmt
Other Increases$7,686OtherIncreasesAmt
Subtotal$5,500,306SubtotalAmt
Other Decreases$5,500,306OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$0TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$255InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$255SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$255TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,571EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld$0BackupWithholdingWithheldAmt
Total Payments And Credits$3,571TotalPaymentsAndCreditsAmt
Es Penalty$0EsPenaltyAmt
Overpayment$3,316OverpaymentAmt
Applied To ES Tax$0AppliedToESTaxAmt
Refund$3,316RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved EtcYes (1)OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateOHOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial Contributors0NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksCHARLES M DRACKETT JRIndividualWithBooksNm
Phone2062237000PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1C/O LANE POWELL 1420 FIFTH AVENUEAddressLine1Txt
CitySEATTLECityNm
State AbbreviationWAStateAbbreviationCd
ZIP981012375ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PYYes (1)UndistributedIncomePYInd
Undistributed Income PY12021UndistributedIncomePY1Yr
Undistr Incm Sect4942a2 Not AppYes (1)UndistrIncmSect4942a2NotAppInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd

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
CHARLES M DRACKETT JR
13313 SALISHAN LANEMOUNT VERNONWA98273PRESIDENT0.00$0$0$0
SUSAN G DRACKETT
13313 SALISHAN LANEMOUNT VERNONWA98273SECRETARY/ TREASURER0.00$0$0$0
MARY FRANCES BURGIN
583 WALLA WALLA WAYLA CONNERWA98257DIRECTOR0.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$7,547,979AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$29,615AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$7,577,594TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$7,577,594AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$113,664CashDeemedCharitableAmt
Net Vl Noncharitable Assets$7,463,930NetVlNoncharitableAssetsAmt
Minimum Investment Return$120,647MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$120,647MinimumInvestmentReturnAmt
Tax Based On Investment Income$255TaxBasedOnInvestmentIncomeAmt
Total Tax$255TotalTaxAmt
Distributable Before Adj$120,392DistributableBeforeAdjAmt
Recoveries Qualfied Distri$0RecoveriesQualfiedDistriAmt
Distributable Before Ded$120,392DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$120,392DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$0ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$0QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$120,392DistributableAsAdjustedAmt
Undistributed Income PY$419,306UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$0QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$0AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$419,306Taxable2Amt
Undistributed Income CY$120,392UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerCHARLES M DRACKETT JRContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd
Total Grant Or Contri Pd Dur Yr$0TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$265ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$21,901ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$22,166ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$22,166TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Dissolution Stmt DissolutionStmt

Dissolution Information DissolutionInformationGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GROWING TREE FOUNDATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1CO LANE POWELL 1420 5TH AVE NO 4200AddressLine1Txt
CitySEATTLECityNm
State AbbreviationWAStateAbbreviationCd
ZIP98101ZIPCd
FieldValueIRS element (for citing)
Short ExplanationCASH TOTALING $33,501PUBLICLY TRADED SECURITIES WITH A FAIR MARKET VALUE TOTALING $7,410,565ShortExplanationTxt
Dissolution$7,444,066DissolutionAmt

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

FieldValueIRS element (for citing)
IdentifierEXCEPTION FOR FILING FORM 4720IdentifierTxt
Form And Line ReferenceFORM 990, PART VI-B, LINE 2(B)FormAndLineReferenceDesc
Medium ExplanationON OCTOBER 26TH, 2022, GROWING TREE FOUNDATION INC. ("OHIO ENTITY") MADE AN IRC SECTION 507(B)(2) TRANSFER OF ALL OF ITS ASSETS TO GROWING TREE FOUNDATION ("WASHINGTON ENTITY") (EIN: 87-2623940) PURSUANT TO A STAUTORY MERGER. THE WASHINGTON ENTITY IS ALSO A PRIVATE NON-OPERATING FOUNDATION. THIS TRANSFER CONSTITUTED A COMPLETE AND FINAL DISTRIBUTION OF THE OHIO ENTITY'S ASSETS.AT THE END OF THE TAX YEAR ENDING OCTOBER 26TH, 2022, THE OHIO ENTITY HAD "UNDISTRIBUTED INCOME" AS DESCRIBED IN IRC SECTION 4942(C). REV. RUL. 2002-28 PROVIDES THAT THE TRANSFEREE FOUNDATION(S) IN AN IRS SECTION 507(B)(2) TRANSFER ASSUME ALL OBLIGATIONS WITH RESPECT TO THE TRANSFEROR'S UNDISTRIBUTED INCOME WITHIN THE MEANING OF IRC SECTION 4942(C). ALL OF THE UNDISTRIBUTED INCOME ON THE OHIO ENTITY'S FINAL TAX RETURN WILL BE ASSUMED BY THE WASHINGTON ENTITY AND WILL BE REPORTED AS UNDISTRIBUTED INCOME AND MUST BE DISTRIBUTED BY THE WASHINGTON ENTITY BY THE END OF THE 2022 TAX YEAR TO AVOID EXCISE TAX ON UNDISTRIBUTED INCOME.THE OHIO ENTITY ANSWERED "YES" TO PART VI-B, QUESTION 2A OF FORM 990-PF. ACCORDING TO THE INSTRUCTIONS FOR FORM 4720, RETURN OF CERTAIN EXCISE TAXES UNDER CHAPTERS 41 AND 42 OF THE INTERNAL REVENUE CODE, GENERALLY FORM 4720 MUST BE FILED FOR ORGANIZATIONS THAT ANSWERED YES TO QUESTION 2A; HOWEVER, SINCE THE WASHINGTON ENTITY WILL ASSUME THE OBLIGATION WITH RESPECT TO THE UNDISTRIBUTED INCOME, THE OHIO ENTITY DOES NOT OWE EXCISE TAX AND IS NOT REQUIRED TO FILE FORM 4720 TO CALCULATE SUCH TAX.MediumExplanationTxt

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationON OCTOBER 26TH, 2022, THE FOUNDATION MADE AN IRC SECTION 507(B)(2) TRANSFER OF THE ENTIRETY OF ITS ASSETS TO GROWING TREE FOUNDATION (EIN: 87-2623940) PURSUANT TO A STATUTORY MERGER EFFECTIVE OCTOBER 26TH, 2022. THE RECIPIENT OF THE 507(B)(2) TRANSFER IS A PRIVATE NON-OPERATING FOUNDATION. THIS TRANSFER CONSTITUTED A FINAL DISTRIBUTION OF THE FOUNDATION'S ASSETS. REV. RUL. 2002-28 HOLDS THAT IF A PRIVATE FOUNDATION TRANSFERS ALL OF ITS ASSETS UNDER IRC SECTION 507(B)(2) AND CHOOSES TO PROVIDE NOTICE OF INTENT TO TERMINATE, IT IS SUBJECT TO THE IRS SECTION 507(C) TAX; HOWEVER, IF THE PRIVATE FOUNDATION HAS NO ASSETS ON THE DAY IT PROVIDES NOTICE, THE IRC SECTION 507(C) TAX WILL BE ZERO. SINCE THE FOUNDATION IS PROVIDING NOTICE AFTER ALL ASSETS WERE DISTRIBUTED, THE FOUNDATION DOES NOT OWE TERMINATION TAX UNDER SECTION 507(C).ExplanationTxt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
Desc507(B)(2) DISTRIB. TO GROWING TREE FOUNDATION (87-2623940)Desc
Amt$5,500,306Amt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescPRIOR YEAR ADJUSTMENTDesc
Amt$7,686Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryINVESTMENT ADVISORY FEESCategoryTxt
Amt$3,843Amt
Net Investment Income$3,843NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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