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MARTINO FAMILY FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
MARTINO FAMILY FOUNDATION (EIN 45-6635594)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-05-16
IRS object ID
202201369349102820
Schema version
2021v4.2
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)
Return2022-05-16T10:32:38-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BDO USA LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1100 PARK AVENUEAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP100175001ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN456635594EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Martino Family FoundationBusinessNameLine1Txt
Business Name Line2C/O Michael E MartinoBusinessNameLine2Txt
FieldValueIRS element (for citing)
In Care Of% MICHAEL E MARTINOInCareOfNm
Business Name ControlMARTBusinessNameControlTxt
Phone2127711232PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1329 Mariomi RoadAddressLine1Txt
CityNew CanaanCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06840ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMichael MartinoPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone2128858000PhoneNum
Signature2022-05-16SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMichaelPersonFirstNm
Person LastMartinoPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJONATHAN SCHMELTZ partnerPreparerPersonNm
PTINP00182786PTIN
Phone2128858000PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$105,958,632FMVAssetsEOYAmt
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
Net Gain Sale Ast Rev And Expnss$142,272NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$974,016GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$142,272CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$142,272TotalRevAndExpnssAmt
Total Net Invst Incm$142,272TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$3,155,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$3,155,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$3,155,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$3,155,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$3,012,728ExcessRevenueOverExpensesAmt
Net Investment Income$142,272NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$2,461,046CashBOYAmt
Cash EOY$306,046CashEOYAmt
Cash EOYFMV$306,046CashEOYFMVAmt
Corporate Stock BOY$91,206,132CorporateStockBOYAmt
Corporate Stock EOY$90,348,404CorporateStockEOYAmt
Corporate Stock EOYFMV$105,652,586CorporateStockEOYFMVAmt
Total Assets BOY$93,667,178TotalAssetsBOYAmt
Total Assets EOY$90,654,450TotalAssetsEOYAmt
Total Assets EOYFMV$105,958,632TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$93,667,178RetainedEarningBOYAmt
Retained Earning EOY$90,654,450RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$93,667,178TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$90,654,450TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$93,667,178TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$90,654,450TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$93,667,178TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$3,012,728ExcessRevenueOverExpensesAmt
Subtotal$90,654,450SubtotalAmt
Tot Net Ast Or Fund Balances EOY$90,654,450TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyAVAILABLE UPON REQUESTPropertyDesc
How AcquiredPHowAcquiredCd
Gross Sales Price$974,016GrossSalesPriceAmt
Cost Or Other Basis$831,744CostOrOtherBasisAmt
Gain Or Loss$142,272GainOrLossAmt
Gains Minus Excess Or Losses$142,272GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$142,272CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,978InvestmentIncomeExciseTaxAmt
Subtotal$1,978SubtotalAmt
Tax Based On Investment Income$1,978TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Es Penalty$45EsPenaltyAmt
Tax Due$2,023TaxDueAmt

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 SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Form990 PF Filed With Atty GenfalseForm990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1MICHAEL E MARTINOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127711232PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1329 MARIOMI ROADAddressLine1Txt
CityNEW CANNANCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06840ZIPCd
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 PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonMICHAEL E MARTINOPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1329 Mariomi RoadAddressLine1Txt
CityNew CanaanCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06840ZIPCd
FieldValueIRS element (for citing)
TitleDIRECTORTitleTxt
Average Hrs Per Wk Devoted To Pos0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$96,345,891AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$2,243,963AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$98,589,854TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$98,589,854AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,478,848CashDeemedCharitableAmt
Net Vl Noncharitable Assets$97,111,006NetVlNoncharitableAssetsAmt
Minimum Investment Return$4,855,550MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$4,855,550MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,978TaxBasedOnInvestmentIncomeAmt
Total Tax$1,978TotalTaxAmt
Distributable Before Adj$4,853,572DistributableBeforeAdjAmt
Distributable Before Ded$4,853,572DistributableBeforeDedAmt
Distributable As Adjusted$4,853,572DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$3,155,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$3,155,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$4,853,572DistributableAsAdjustedAmt
Undistributed Income PY$1,025,905UndistributedIncomePYAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Qualifying Distributions$3,155,000QualifyingDistributionsAmt
Applied To Year1$1,025,905AppliedToYear1Amt
Applied To Current Year$2,129,095AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Undistributed Income CY$2,724,477UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerNAContributingManagerNm
Shareholder ManagerNAShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (11 entries)

Address Line1RecipientUSAddress/AddressLine1TxtAddress Line2RecipientUSAddress/AddressLine2TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
THE FEDERALIST SOCIETY
1015 18TH STREET NWSUITE 425WASHINGTONDC20036NONECHARITABLE$350,000
FAIRFIELD UNIVERSITY
1073 NORTH BENSON ROADFAIRFILEDCT068245195NONECHARITABLE$500,000
Dana-Farber Cancer Institute
450 Brookline AveBOSTONMA02215NONECHARITABLE$750,000
INNER CITY SCHOLARSHIP FUND
1011 1st Avenue 1400NEW YORKNY10022NONECHARITABLE$500,000
ANNUAL CATHOLIC APpeal
310 prospect park westbrooklynNY11215NONECHARITABLE$500,000
Cato Institute
1000 Massachusetts Ave NWWashingtonDC20001nonecharitable$100,000
The boys and girls clubs of America
1275 Peachtree St NEAtlantaGA30309nonecharitable$5,000
MANHATTAN INSTITUTE
45 W 34th St Floor 5NEW YORKNY10001NO RELATIONSHIPCHARITABLE$100,000
St Luke's School
487 Hudson StNEW YORKNY10014NO RELATIONSHIPCHARITABLE$50,000
Turning Point USA
4940 East Beverly RoadPhoenixAZ85044NO RELATIONSHIPCHARITABLE$100,000
DOE Fund
345 E 102nd St 305NEW YORKNY10029NO RELATIONSHIPCHARITABLE$200,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$3,155,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp
Dividends And Interest From Sec DtlDividendsAndInterestFromSecDtl
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$142,272ExclusionAmt
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$142,272ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$142,272TotalIncomeProducingActyAmt

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

All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch

All Other Program Related Invst AllOtherProgramRelatedInvstGrp

FieldValueIRS element (for citing)
DescNONEDesc

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
FIRST REPUBLIC SECURITIES CORP$50,092$50,092
MASON CAPITAL, LTD.$90,298,312$105,602,494

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonMICHAEL E MARTINOPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1329 Mariomi RoadAddressLine1Txt
CityNEW CANAANCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06840ZIPCd

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