Vollman Family Foundation: Form 990PF, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- Vollman Family Foundation (EIN 74-2939499)
- Tax period
- 2022-07-01 to 2023-02-01
- Filed
- 2023-11-21
- IRS object ID
- 202333259349100303
- 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
- Form 990-PF
- Depreciation Schedule
- General Explanation Attachment
- Liquidation Explanation Stmt
- Legal Fees Schedule
- Other Decreases Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-21T10:13:10-06:00 | ReturnTs |
| Tax Period End | 2023-02-01 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3333 New Hyde Park Rd Ste 406 | AddressLine1Txt |
| City | New Hyde Park | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11042 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 742939499 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Vollman Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % Foundation Source | InCareOfNm |
| Business Name Control | VOLL | BusinessNameControlTxt |
| Phone | 8008391754 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1Txt |
| City | Wilmington | CityNm |
| State Abbreviation | DE | StateAbbreviationCd |
| ZIP | 198091377 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Michael Vollman | PersonNm |
| Person Title | President | PersonTitleTxt |
| Phone | 8008391754 | PhoneNum |
| Signature | 2023-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Michael | PersonFirstNm |
| Person Last | Vollman | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jeffrey D Haskell | PreparerPersonNm |
| PTIN | P01345770 | PTIN |
| Phone | 8008391754 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | TrustedCustomerGrp |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Final Return | Yes (X) | FinalReturnInd |
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $0 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $0 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $181 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $181 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $12,774 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $12,774 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | -$35,286 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $1,198,969 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $22,331 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | -$12,955 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $0 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $0 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $11,911 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $11,911 | CompOfcrDirTrstDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $911 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $911 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $2,693 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $2,693 | LegalFeesDsbrsChrtblAmt |
| Other Prof Fees Rev And Expnss | $4,079 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $4,079 | OtherProfFeesNetInvstIncmAmt |
| Other Expenses Rev And Expnss | -$19,594 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | -$4,079 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | -$15,515 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $0 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $0 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $0 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $0 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $58,825 | SavAndTempCashInvstBOYAmt |
| Corporate Stock BOY | $913,236 | CorporateStockBOYAmt |
| Total Assets BOY | $972,061 | TotalAssetsBOYAmt |
| Total Assets EOY | $0 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $0 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $972,061 | RetainedEarningBOYAmt |
| Tot Net Ast Or Fund Balances BOY | $972,061 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $0 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $972,061 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $0 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $972,061 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $0 | ExcessRevenueOverExpensesAmt |
| Subtotal | $972,061 | SubtotalAmt |
| Other Decreases | $972,061 | OtherDecreasesAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | Publicly-traded Securities | PropertyDesc |
| Gross Sales Price | $1,198,969 | GrossSalesPriceAmt |
| Cost Or Other Basis | $1,234,255 | CostOrOtherBasisAmt |
| Gain Or Loss | -$35,286 | GainOrLossAmt |
| Gains Minus Excess Or Losses | -$35,286 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | -$35,286 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $0 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $0 | SubtotalAmt |
| Tax Based On Investment Income | $0 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $139 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Total Payments And Credits | $139 | TotalPaymentsAndCreditsAmt |
| Overpayment | $139 | OverpaymentAmt |
| Applied To ES Tax | $0 | AppliedToESTaxAmt |
| Refund | $139 | RefundAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | Yes (true) | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | TX | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | Yes (true) | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8008391754 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 Silverside Road Suite 123 | AddressLine1Txt |
| City | Wilmington | CityNm |
| State Abbreviation | DE | StateAbbreviationCd |
| ZIP | 198091377 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| Martha Vollman | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir, Sec, Treas, VP | 2.0 | $5,956 | $0 | $0 |
| Michael Vollman | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir, Pres | 2.0 | $5,956 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Summary Of Direct Chrtbl Acty | SummaryOfDirectChrtblActyGrp | |
| Sum Of Program Related Invst | SumOfProgramRelatedInvstGrp |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $0 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $0 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $0 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $0 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $0 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $0 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $0 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $0 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $0 | TotalTaxAmt |
| Distributable Before Adj | $0 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $0 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $0 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $0 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
| Prior Year1 | 2020 | PriorYear1Yr |
| Prior Year2 | 2019 | PriorYear2Yr |
| Prior Year3 | 2018 | PriorYear3Yr |
| Qualifying Distributions | $0 | QualifyingDistributionsAmt |
| Remaining Distri From Corpus | $0 | RemainingDistriFromCorpusAmt |
| Total Corpus | $0 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $0 | ExcessDistriCyovToNextYrAmt |
| Excess From Current Year | $0 | ExcessFromCurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Foundations | PrivateOperatingFoundationsGrp |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Martha Vollman | ContributingManagerNm |
| Contributing Manager | Michael Vollman | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| Victoria and Albert Museum Americas Foundation | |||||||
| 1301 Avenue of the Americas | New York | NY | 10019 | N/A | PC | Photography Centre | $12,000 |
| To Successor Foundation | |||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | N/A | PC | See General Explanation | -$12,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $0 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp |
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $181 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $12,774 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Income | OtherInvestmentIncomeGrp |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | -$35,286 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TO SUCCESSOR FDN (SEE GEN'L EXPLANATION) | Desc |
| Exclusion | 01 | ExclusionCd |
| Exclusion | $22,331 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotals Incm Producing Acty | SubtotalsIncmProducingActyGrp |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Depreciation Schedule DepreciationSchedule
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Transfer to Successor Foundation | IdentifierTxt |
| Form And Line Reference | Form 990-PF - Explanation of Transfer to Successor Foundation | FormAndLineReferenceDesc |
| Medium Explanation | EXPLANATION OF TRANSFER TO SUCCESSOR FOUNDATION During 2022, Vollman Family Foundation ("Old Foundation") (EIN 74-2939499) transferred all of its assets into Vollman Foundation ("New Foundation") (EIN: 88-2267432), which was controlled by the same persons that effectively controlled the Old Foundation at the time of such transfer. Such a transfer is described in Section 507(b)(2) of the Internal Revenue Code of 1986, as amended (the "Code"), which provides that "in the case of a transfer of assets of any private foundation to another private foundation pursuant to any liquidation, merger, redemption, recapitalization, or other adjustment, organization, or reorganization, the transferee foundation shall not be treated as a newly created organization." Additionally, Treasury Regulations Section 1.507-3(a)(9)(i) states: If a private foundation transfers all of its net assets to one or more private foundations which are effectively controlled (within the meaning of 1.482-1(a)(3)), directly or indirectly, by the same person or persons which effectively controlled the transferor private foundation, for purposes of chapter 42 (section 4940 et seq.) and part II of subchapter F of chapter 1 of the Code (sections 507 through 509) such a transferee private foundation shall be treated as if it were the transferor. In accordance with the above referenced Regulation and Code sections, the Old Foundation has completed its 2022 return to allocate all of its activity to the New Foundation as if it were the Old Foundation for purposes of Chapter 42 for the entire taxable year. Correspondingly, the New Foundation will complete its 2022 return to report the activity allocated to it by the Old Foundation through December 31, 2022 in addition to the activity the New Foundation conducted directly during calendar year 2022. See the following summary by return part: Part I: The New Foundation has picked up the Old Foundation's income and expenses for purposes of Code Sections 4940 and 4942. Part V: The New Foundation has picked up the Code Section 4940 tax overpayment from the Old Foundation's 2022 Form 990-PF. Part IX: The New Foundation has calculated the average value of assets to include its own as well as the Old Foundation's assets through December 31, 2022. Part X: The New Foundation has calculated the distributable amount to include its own as well as the Old Foundation's income tax through December 31, 2022. Part XI: The New Foundation has included the 2022 qualifying distributions made by the Old Foundation as if they were made by the New Foundation. Part XII: The New Foundation has included the 2022 qualifying distributions made by the Old Foundation as if they were made by the New Foundation. Part XV: The New Foundation has reported the Old Foundation's 2022 grants of $12,000 as if they were made by the New Foundation. Details for Old Foundation's 2022 expenses reported on Part I, Lines 13 - 23: Compensation of officers, directors, trustees, etc: Column (a): $11,911 Column (b): $0 Column (d): $11,911 Pension plans, employee benefits: Column (a): $911 Column (b): $0 Column (d): $911 Legal Fees: Column (a): $2,693 Column (b): $0 Column (d): $2,693 Investment Management Services: Column (a): $4,079 Column (b): $4,079 Column (d): $0 Administrative Fees: Column (a): $9,908 Column (b): $0 Column (d): $9,908 | MediumExplanationTxt |
Liquidation Explanation Stmt LiquidationExplanationStmt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | During the taxable year ending February 1, 2023, Vollman Family Foundation (the "Foundation") transferred all of its net assets to Vollman Foundation EIN: 88-2267432, which was controlled by the same persons that effectively controlled the Foundation. See the General Explanation Statement for more information regarding this Internal Revenue Code Section 507(B)(2) transfer. | ExplanationTxt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | General Consultations | CategoryTxt |
| Legal Fees | $2,693 | LegalFeesAmt |
| Disbursements Charitable Prps | $2,693 | DisbursementsCharitablePrpsAmt |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TO SUCCESSOR FDN (SEE GEN'L EXPLANATION) | Desc |
| Amt | $972,061 | Amt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|---|
| Administrative Fees | $9,908 | $9,908 | |
| TO SUCCESSOR FDN- SEE GEN EXPL | -$29,502 | -$25,423 | -$4,079 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | To Successor Foundation (see Gen Expl) | Desc |
| Revenue And Expenses Per Books | $22,331 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | -$12,955 | NetInvestmentIncomeAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment Management Services | CategoryTxt |
| Amt | $4,079 | Amt |
| Net Investment Income | $4,079 | NetInvestmentIncomeAmt |