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GERALD AND JANET CARRUS FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
GERALD AND JANET CARRUS FOUNDATION (EIN 13-3929249)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-15
IRS object ID
202531359349101468
Schema version
2024v5.1
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)
Return2025-05-15T07:50:08-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

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 Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN133929249EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Gerald & Janet Carrus FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlGERABusinessNameControlTxt
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)
Personjanet carrusPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2025-04-30SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,854,316FMVAssetsEOYAmt
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$11,391InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$11,391InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$58,021DividendsRevAndExpnssAmt
Dividends Net Invst Incm$58,021DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$174,959NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$694,246GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$174,959CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$244,371TotalRevAndExpnssAmt
Total Net Invst Incm$244,371TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$90,800CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$90,800CompOfcrDirTrstDsbrsChrtblAmt
Pension Empl Bnft Rev And Expnss$7,582PensionEmplBnftRevAndExpnssAmt
Pension Empl Bnft Dsbrs Chrtbl$7,582PensionEmplBnftDsbrsChrtblAmt
Other Prof Fees Rev And Expnss$25,193OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$25,193OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$4,716TaxesRevAndExpnssAmt
Taxes Net Invst Incm$79TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$22,127OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$22,127OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$150,418TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$25,272TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$120,509TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$800,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$800,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$950,418TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$25,272TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$920,509TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$706,047ExcessRevenueOverExpensesAmt
Net Investment Income$219,099NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$526,561SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$339,801SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$339,801SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$2,654,163CorporateStockBOYAmt
Corporate Stock EOY$2,134,876CorporateStockEOYAmt
Corporate Stock EOYFMV$2,514,515CorporateStockEOYFMVAmt
Total Assets BOY$3,180,724TotalAssetsBOYAmt
Total Assets EOY$2,474,677TotalAssetsEOYAmt
Total Assets EOYFMV$2,854,316TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$3,180,724RetainedEarningBOYAmt
Retained Earning EOY$2,474,677RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$3,180,724TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,474,677TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,180,724TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,474,677TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,180,724TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$706,047ExcessRevenueOverExpensesAmt
Subtotal$2,474,677SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,474,677TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$694,246GrossSalesPriceAmt
Cost Or Other Basis$519,287CostOrOtherBasisAmt
Gain Or Loss$174,959GainOrLossAmt
Gains Minus Excess Or Losses$174,959GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$174,959CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3,045InvestmentIncomeExciseTaxAmt
Subtotal$3,045SubtotalAmt
Tax Based On Investment Income$3,045TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$2,100EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$2,100TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt
Tax Due$945TaxDueAmt

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 StateNHOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
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 (6 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Janet Carrus
FOUNDATION SOURCE 501 SILVERSIDE RDWilmingtonDE198091377Dir, Pres1.0$0$0$0
Robin Miller
FOUNDATION SOURCE 501 SILVERSIDE RDWilmingtonDE198091377Dir1.0$0$0$0
Michelle Peperone
FOUNDATION SOURCE 501 SILVERSIDE RDWilmingtonDE198091377Dir1.0$0$0$0
Renee Peperone
FOUNDATION SOURCE 501 SILVERSIDE RDWilmingtonDE198091377Dir1.0$0$0$0
Cathey Romano
FOUNDATION SOURCE 501 SILVERSIDE RDWilmingtonDE198091377Executive Dir20.0$90,800$373$0
Irving Sitnick
FOUNDATION SOURCE 501 SILVERSIDE RDWilmingtonDE198091377Dir, Sec, VP1.0$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$2,804,480AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$290,012AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,094,492TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$3,094,492AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$46,417CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,048,075NetVlNoncharitableAssetsAmt
Minimum Investment Return$152,404MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$152,404MinimumInvestmentReturnAmt
Tax Based On Investment Income$3,045TaxBasedOnInvestmentIncomeAmt
Total Tax$3,045TotalTaxAmt
Distributable Before Adj$149,359DistributableBeforeAdjAmt
Distributable Before Ded$149,359DistributableBeforeDedAmt
Distributable As Adjusted$149,359DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$920,509ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$920,509QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$149,359DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$1,094,312ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$1,180,021ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$818,376ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$931,501ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,222,081ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$5,246,291TotalExcessDistributionCyovAmt
Qualifying Distributions$920,509QualifyingDistributionsAmt
Applied To Current Year$149,359AppliedToCurrentYearAmt
Remaining Distri From Corpus$771,150RemainingDistriFromCorpusAmt
Total Corpus$6,017,441TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$1,094,312ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$4,923,129ExcessDistriCyovToNextYrAmt
Excess From Year4$1,180,021ExcessFromYear4Amt
Excess From Year3$818,376ExcessFromYear3Amt
Excess From Year2$931,501ExcessFromYear2Amt
Excess From Year1$1,222,081ExcessFromYear1Amt
Excess From Current Year$771,150ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
HURLEYVILLE PERFORMING ARTS CENTRE INC
219 MAIN STHURLEYVILLENY12747N/APCGeneral & Unrestricted$600,000
HURLEYVILLE PERFORMING ARTS CENTRE INC
219 MAIN STHURLEYVILLENY12747N/APCHPAC-Tango Cafe$100,000
THE INTERNATIONAL WILDERNESS LEADERSHIP FOUNDATION
717 POPLAR AVEBOULDERCO80304N/APCTo support Indigenous Led$100,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$800,000TotalGrantOrContriPdDurYrAmt

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$11,391ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$58,021ExclusionAmt
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 Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$174,959ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$244,371ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$244,371TotalIncomeProducingActyAmt

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 (8 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
FIDELITY ADVISOR TOTAL BOND Z$126,000$119,268
ISHARES BARCLAYS 1-3 YEAR TREA$234,933$235,693
ISHARES S&P 500 INDEX FD$360,328$502,145
ISHARESLEHMAN 7-10YR$251,525$242,496
JANUS HENDERSON BALANCED FUND$345,148$463,862
JANUS HENDERSON ENTERPRISE FUN$414,287$498,941
JOHN HANCOCK FDS III DISCIPLIN$329,688$382,149
PIMCO INCOME FUND$72,967$69,961

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$21,499$21,499
Equipment/Furniture Purchase$553$553
State or Local Filing Fees$75$75

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment Management ServicesCategoryTxt
Amt$25,193Amt
Net Investment Income$25,193NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
990-PF Estimated Tax for 2024$2,100
990-PF Excise Tax for 2023$2,537
Foreign Tax Paid$79$79

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