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BENZ FAMILY FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
BENZ FAMILY FOUNDATION (EIN 83-2778884)
Tax period
2020-01-01 to 2020-12-31
Filed
2022-09-20
IRS object ID
202202639349100000
Schema version
2020v4.1
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)
Return2022-09-20T04:31:09-05:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt
Disaster ReliefNew York-Hurricane IdaDisasterReliefTxt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1Txt
CityLake SuccessCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN832778884EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Benz Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlBENZBusinessNameControlTxt
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)
PersonWilliam BenzPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2022-09-19SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstWilliamPersonFirstNm
Person LastBenzPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,150,141FMVAssetsEOYAmt
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$319InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$319InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$82,500OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$82,500OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$82,819TotalRevAndExpnssAmt
Total Net Invst Incm$82,819TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$339TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$10,735OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$25OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$10,710OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$11,074TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$25TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$10,710TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$8,724ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$8,724ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$19,798TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$25TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$19,434TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$63,021ExcessRevenueOverExpensesAmt
Net Investment Income$82,794NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$87,120SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$150,141SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$150,141SavAndTempCashInvstEOYFMVAmt
Other Nts And Loans Rcvbl$1,000,000OtherNtsAndLoansRcvblAmt
Other Nts And Loans Rcvbl BOY$1,000,000OtherNtsAndLoansRcvblBOYAmt
Other Nts And Loans Rcvbl EOY$1,000,000OtherNtsAndLoansRcvblEOYAmt
Other Nts And Loans Rcvbl EOYFMV$1,000,000OtherNtsAndLoansRcvblEOYFMVAmt
Total Assets BOY$1,087,120TotalAssetsBOYAmt
Total Assets EOY$1,150,141TotalAssetsEOYAmt
Total Assets EOYFMV$1,150,141TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,087,120RetainedEarningBOYAmt
Retained Earning EOY$1,150,141RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,087,120TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,150,141TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,087,120TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,150,141TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,087,120TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$63,021ExcessRevenueOverExpensesAmt
Subtotal$1,150,141SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,150,141TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,151InvestmentIncomeExciseTaxAmt
Subtotal$1,151SubtotalAmt
Tax Based On Investment Income$1,151TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$7,697EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$7,697TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$6,546OverpaymentAmt
Applied To ES Tax$1,200AppliedToESTaxAmt
Refund$5,346RefundAmt

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 StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundYes (true)DonorAdvisedFundInd
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 PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
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

FieldValueIRS element (for citing)
PersonWilliam R Benz IIPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
TitleDir, Pres, Sec, TreasTitleTxt
Average Hrs Per Wk Devoted To Pos1.0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$124,075AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$1,000,000FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,124,075TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$1,124,075AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$16,861CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,107,214NetVlNoncharitableAssetsAmt
Minimum Investment Return$55,361MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$55,361MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,151TaxBasedOnInvestmentIncomeAmt
Total Tax$1,151TotalTaxAmt
Distributable Before Adj$54,210DistributableBeforeAdjAmt
Distributable Before Ded$54,210DistributableBeforeDedAmt
Distributable As Adjusted$54,210DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$19,434ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$19,434QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$19,434AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$54,210DistributableAsAdjustedAmt
Undistributed Income PY$19,434UndistributedIncomePYAmt
Prior Year12018PriorYear1Yr
Prior Year22017PriorYear2Yr
Prior Year32016PriorYear3Yr
Qualifying Distributions$19,434QualifyingDistributionsAmt
Applied To Year1$19,434AppliedToYear1Amt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$54,210UndistributedIncomeCYAmt
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 ManagerWilliam R Benz IIContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SCHWAB CHARITABLE FUNDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1211 MAIN STAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94105ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeBenz Family Charitable FundGrantOrContributionPurposeTxt
Amt$8,724Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$8,724TotalGrantOrContriPdDurYrAmt

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$319ExclusionAmt
FieldValueIRS element (for citing)
Div And Int From Sec Part VIIDivAndIntFromSecPartVIIGrp
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescINTEREST INCOME FROM NOTE RECEIVABLEDesc
Exclusion14ExclusionCd
Exclusion$82,500ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$82,819ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$82,819TotalIncomeProducingActyAmt

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

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmtNet Investment IncomeNetInvestmentIncomeAmt
Administrative Fees$10,685$10,685
Bank Charges$25$25
State or Local Filing Fees$25$25

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescINTEREST INCOME FROM NOTE RECEIVABLEDesc
Revenue And Expenses Per Books$82,500RevenueAndExpensesPerBooksAmt
Net Investment Income$82,500NetInvestmentIncomeAmt

Other Notes Loans Rcvbl Long Sch OtherNotesLoansRcvblLongSch

Other Notes Loans Rcvbl Long OtherNotesLoansRcvblLongGrp

Borrower Name BorrowerNameGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BUCHANAN MORTGAGE HOLDINGS LLCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Loan Original$1,000,000LoanOriginalAmt
Balance Due$1,000,000BalanceDueAmt
Note2019-05NoteDt
Loan Maturity2023-05LoanMaturityDt
Repayment TermsPRINCIPAL UPON MATURITY, INTEREST MONTHLYRepaymentTermsTxt
Interest8.25InterestRt
Security Provided BorrowerNONESecurityProvidedBorrowerTxt
Loan PurposeINVESTMENTLoanPurposeTxt
Lender ConsiderationNONELenderConsiderationDesc
Consideration FMV$0ConsiderationFMVAmt

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationBenz Family Foundation (EIN: 83-2778884) respectfully requests abatement of any penalties for late filing of Form 990-PF for taxable year ending December 31, 2020 because the delay was inadvertent, unintended, and due to reasonable causes. Treasury Regulations Section 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to prepare its Form 990-PF for tax period ending 12/31/2020. The Foundation's 2020 Form 990-PF was timely filed on April 30, 2021. The return was originally mailed to the IRS, but was returned along with a notice instructing the Foundation to submit the return electronically. The Foundation's administrator advised the Foundation to submit the return for paper filing initially because at the time the return was filed, the foundation's exempt application was still pending and the IRS does not have the capability to accept e-filed returns for exempt organizations where tax exempt status is still pending. The foundation has since received their federal tax exempt status, and the foundation's administrator is now submitting the return via e-file, and the delay in filing Form 990-PF for the taxable year ending 2020 is no fault or willful neglect of the foundation. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's actions were reasonable and in good faith. These administrative actions were in no way an intentional disregard of the IRS rules and therefore entitled to abatement of any penalty. The organization acted in good faith in complying with the filing deadline and in rectifying the situation as soon as it was known. Therefore, we again request that no penalty be assessed for late filing.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Extension for 2019CategoryTxt
Amt$339Amt

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