ERNEST C AND MARION R KARRAS FAMILY FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: ERNEST C AND MARION R KARRAS FAMILY FOUNDATION (EIN 27-1530381)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-09-04
IRS object ID: 202202479349100100
Schema version: 2021v4.0
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
Schedule B
Accounting Fees Schedule
Other Assets Schedule
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-09-04T10:44:38-04:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	472378004	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	SWARTZ & REEDER ADVISORS	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	333 SKOKIE BLVD STE 101	AddressLine1Txt
City	NORTHBROOK	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60062	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2021-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	271530381	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ERNEST C AND MARION R KARRAS FAMILY	BusinessNameLine1Txt
Business Name Line2	FOUNDATION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	ERNE	BusinessNameControlTxt
Phone	6305799800	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 4942	AddressLine1Txt
City	OAK BROOK	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60522	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	ERNEST C KARRAS	PersonNm
Person Title	CO-TRUSTEE	PersonTitleTxt
Phone	6305799800	PhoneNum
Signature	2022-08-29	SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	ERNEST	PersonFirstNm
Person Last	KARRAS	PersonLastNm

Field	Value	IRS element (for citing)
SSN	XXX-XX-XXXX	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	MICHAEL REEDER	PreparerPersonNm
PTIN	P01696338	PTIN
Phone	8472415800	PhoneNum
Preparation	2022-09-04	PreparationDt
Self Employed	Yes (X)	SelfEmployedInd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
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	$100,000	ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss	$189	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$189	InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm	$189	InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss	$10,026	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$10,026	DividendsNetInvstIncmAmt
Dividends Adj Net Incm	$10,026	DividendsAdjNetIncmAmt
Total Rev And Expnss	$110,215	TotalRevAndExpnssAmt
Total Net Invst Incm	$10,215	TotalNetInvstIncmAmt
Total Adj Net Incm	$10,215	TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss	$300	AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss	$163	TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss	$118	OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$581	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$59,400	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$59,150	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$59,981	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$59,150	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$50,234	ExcessRevenueOverExpensesAmt
Net Investment Income	$10,215	NetInvestmentIncomeAmt
Adjusted Net Income	$10,215	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$628,218	CashBOYAmt
Cash EOY	$382,091	CashEOYAmt
Other Assets BOY	$339,718	OtherAssetsBOYAmt
Other Assets EOY	$636,079	OtherAssetsEOYAmt
Total Assets BOY	$967,936	TotalAssetsBOYAmt
Total Assets EOY	$1,018,170	TotalAssetsEOYAmt
Total Assets EOYFMV	$0	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$967,936	RetainedEarningBOYAmt
Retained Earning EOY	$1,018,170	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$967,936	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$1,018,170	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$967,936	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$1,018,170	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$967,936	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$50,234	ExcessRevenueOverExpensesAmt
Subtotal	$1,018,170	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$1,018,170	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$142	InvestmentIncomeExciseTaxAmt
Subtotal	$142	SubtotalAmt
Tax Based On Investment Income	$142	TaxBasedOnInvestmentIncomeAmt
Tax Due	$142	TaxDueAmt

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	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	IL	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	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	ERNEST C KARRAS	IndividualWithBooksNm
Phone	6305799800	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	75 FOREST GATE CIR	AddressLine1Txt
City	OAK BROOK	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60523	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	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
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
ERNEST C KARRAS
75 FOREST GATE CIRCLE	OAK BROOK	IL	60523	CO-TRUSTEE	000.00	$0	$0	$0
MARION R KARRAS
75 FOREST GATE CIRCLE	OAK BROOK	IL	60523	CO-TRUSTEE	000.00	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt

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
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)
Tax Based On Investment Income	$142	TaxBasedOnInvestmentIncomeAmt
Total Tax	$142	TotalTaxAmt
Distributable As Adjusted	$0	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$59,150	ExpensesAndContributionsAmt
Qualifying Distributions	$59,150	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$0	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5	$35,851	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4	$5,005	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$26,041	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$86,089	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$61,850	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$214,836	TotalExcessDistributionCyovAmt
Qualifying Distributions	$59,150	QualifyingDistributionsAmt
Remaining Distri From Corpus	$59,150	RemainingDistriFromCorpusAmt
Total Corpus	$273,986	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5	$35,851	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$238,135	ExcessDistriCyovToNextYrAmt
Excess From Year4	$5,005	ExcessFromYear4Amt
Excess From Year3	$26,041	ExcessFromYear3Amt
Excess From Year2	$86,089	ExcessFromYear2Amt
Excess From Year1	$61,850	ExcessFromYear1Amt
Excess From Current Year	$59,150	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (12 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
NORTHWESTERN UNIVERSITY
1201 DAVIS STREET	EVANSTON	IL	60208	RESERCH	$1,000
UNIVERSITY OF ILLINOIS
1305 W GREEN STREET	URBANA	IL	61801	EDUCATION	$5,000
HOLY APOSTLES PHILOPTOCHOS
2501 S WOLF RD	WESTCHESTER	IL	60154	RELIGIOUS	$1,100
HOLY APOSTLES CHURCH
2501 S WOLF RD	WESTCHESTER	IL	60154	RELIGIOUS	$5,000
INTERNATIONAL ORTHODOX CHARITIES
110 WEST ROAD SUITE 360	BALTIMORE	MD	21204	RELIGIOUS	$1,000
ASSUMPTION CHURCH
601 S CENTRAL	CHICAGO	IL	60644	RELIGIOUS	$7,500
TIMOTHY CHRISTIAN SCHOOL
188 W BUTTERFIELD RD	ELMHURST	IL	60126	EDUCATION	$5,000
BENET ACADEMY
2200 MAPLE AVE	LISLE	IL	60532	EDUCATION	$5,000
ST IAKOVOS RETREAT CENTER
920 224TH AVE	KANSASVILLE	WI	53139	RELIGIOUS	$25,500
METROPOLIIS PHILOPTOCHOS SOCIETY
555 BUTTERFIELD RD	LOMBARD	IL	60148	EDUCATION	$1,050
HELLENIC MUSEUM
6251-53 W TOUCHY	CHICAGO	IL	60646	EDUCATION	$1,000
RUSH UNIV MED CENTER
1620 HARRISON ST	CHICAGO	IL	60612	RESEARCH	$1,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$59,150	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$189	RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$10,026	RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$10,215	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$10,215	TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
General Rule	Yes (X)	GeneralRuleInd

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	1	ContributorNum
Contributor Person	ERNEST C KARRAS	ContributorPersonNm

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	75 FOREST GATE CIRCLE	AddressLine1Txt
City	OAK BROOK	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60523	ZIPCd

Field	Value	IRS element (for citing)
Total Contributions	$100,000	TotalContributionsAmt
Person Contribution	Yes (X)	PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	INDIRECT ACCOUNTING FEES	CategoryTxt
Amt	$300	Amt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

Field	Value	IRS element (for citing)
Desc	INVESTMENTS	Desc
BOY Book Value	$339,718	BOYBookValueAmt
EOY Book Value	$636,079	EOYBookValueAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
PO BOX FEE	$118

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxt	AmtAmt
TAXES	$148
IL CHARITY BUREAU	$15

ERNEST C AND MARION R KARRAS FAMILY FOUNDATION: Form 990PF, tax year 2021

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Preparer Person PreparerPersonGrp

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

PF Qualifying Distributions PFQualifyingDistributionsGrp

Undistributed Income UndistributedIncomeGrp

Supplementary Information SupplementaryInformationGrp

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (12 entries)

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Contributor US Address ContributorUSAddress

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

Comments