2023-11-21T10:13:10-06:00 2023-02-01 Foundation Source 3333 New Hyde Park Rd Ste 406 New Hyde Park NY 11042 990PF 2022-07-01 742939499 Vollman Family Foundation % Foundation Source VOLL 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 Michael Vollman President 8008391754 2023-11-14 true Michael Vollman 999009999 Jeffrey D Haskell P01345770 8008391754 2022 2023-04-26 12:10:37Z X X 0 X 0 X 181 181 12774 12774 -35286 1198969 0 22331 -12955 0 0 11911 11911 911 911 2693 0 0 2693 4079 4079 -19594 -4079 -15515 0 0 0 0 0 0 0 0 0 0 0 0 58825 913236 972061 0 0 0 0 X 972061 972061 0 972061 0 972061 0 972061 972061 Publicly-traded Securities 1198969 1234255 -35286 -35286 -35286 0 0 0 139 0 139 139 0 139 false false false false false false true true true TX true false false false true true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false true false false false false false false false false false false false false false false false false false Martha Vollman Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, Sec, Treas, VP 2.0 5956 0 0 Michael Vollman Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, Pres 2.0 5956 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2020 2019 2018 0 0 0 0 0 0 Martha Vollman Michael Vollman X Victoria and Albert Museum Americas Foundation 1301 Avenue of the Americas New York NY 10019 N/A PC Photography Centre 12000 To Successor Foundation Foundation Source 501 Silverside Rd Wilmington DE 198091377 N/A PC See General Explanation -12000 0 14 181 14 12774 18 -35286 TO SUCCESSOR FDN (SEE GEN'L EXPLANATION) 01 22331 false false false false false false false false false false Transfer to Successor Foundation Form 990-PF - Explanation of Transfer to Successor Foundation 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 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. General Consultations 2693 2693 TO SUCCESSOR FDN (SEE GEN'L EXPLANATION) 972061 Administrative Fees 9908 9908 TO SUCCESSOR FDN- SEE GEN EXPL -29502 -4079 -25423 To Successor Foundation (see Gen Expl) 22331 -12955 Investment Management Services 4079 4079