BETA

FRIES FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
FRIES FOUNDATION (EIN 46-5144602)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-03-22
IRS object ID
202210819349100706
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)
Return2022-03-22T09:14:15-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1FOUNDATION SOURCEBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE HOLLOW LN STE 212AddressLine1Txt
CityLAKE SUCCESSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN465144602EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Fries FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlFRIEBusinessNameControlTxt
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)
Personmichael t friesPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2022-03-16SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person Firstmichael tPersonFirstNm
Person LastfriesPersonLastNm
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)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,028,073FMVAssetsEOYAmt
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$122InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$122InterestOnSavNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$274,410NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,247,474GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$274,410CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$274,532TotalRevAndExpnssAmt
Total Net Invst Incm$274,532TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$34,420TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$15,268OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$15,268OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$49,688TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$15,268TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,905,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,905,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,954,688TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,920,268TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$1,680,156ExcessRevenueOverExpensesAmt
Net Investment Income$274,532NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,275,893SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$568,801SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$568,801SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$1,459,250CorporateStockBOYAmt
Corporate Stock EOY$486,186CorporateStockEOYAmt
Corporate Stock EOYFMV$459,272CorporateStockEOYFMVAmt
Total Assets BOY$2,735,143TotalAssetsBOYAmt
Total Assets EOY$1,054,987TotalAssetsEOYAmt
Total Assets EOYFMV$1,028,073TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$2,735,143RetainedEarningBOYAmt
Retained Earning EOY$1,054,987RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,735,143TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,054,987TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,735,143TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,054,987TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,735,143TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$1,680,156ExcessRevenueOverExpensesAmt
Subtotal$1,054,987SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,054,987TotNetAstOrFundBalancesEOYAmt

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$1,247,474GrossSalesPriceAmt
Cost Or Other Basis$973,064CostOrOtherBasisAmt
Gain Or Loss$274,410GainOrLossAmt
Gains Minus Excess Or Losses$274,410GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$274,410CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3,816InvestmentIncomeExciseTaxAmt
Subtotal$3,816SubtotalAmt
Tax Based On Investment Income$3,816TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,909EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$3,909TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt
Overpayment$93OverpaymentAmt
Applied To ES Tax$93AppliedToESTaxAmt

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 EtcYes (true)OrganizationDissolvedEtcInd
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 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 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)
PersonMichael T FriesPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
TitlePres, Dir, 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$708,188AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,243,656AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,951,844TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$1,951,844AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$29,278CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,922,566NetVlNoncharitableAssetsAmt
Minimum Investment Return$96,128MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$96,128MinimumInvestmentReturnAmt
Tax Based On Investment Income$3,816TaxBasedOnInvestmentIncomeAmt
Total Tax$3,816TotalTaxAmt
Distributable Before Adj$92,312DistributableBeforeAdjAmt
Distributable Before Ded$92,312DistributableBeforeDedAmt
Distributable As Adjusted$92,312DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,920,268ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$1,920,268QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$92,312DistributableAsAdjustedAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Excess Distribution Cyov Yr5$1,072,857ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$1,721,422ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$2,407,225ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$1,773,404ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,911,632ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$8,886,540TotalExcessDistributionCyovAmt
Qualifying Distributions$1,920,268QualifyingDistributionsAmt
Applied To Current Year$92,312AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,827,956RemainingDistriFromCorpusAmt
Total Corpus$10,714,496TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$1,072,857ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$9,641,639ExcessDistriCyovToNextYrAmt
Excess From Year4$1,721,422ExcessFromYear4Amt
Excess From Year3$2,407,225ExcessFromYear3Amt
Excess From Year2$1,773,404ExcessFromYear2Amt
Excess From Year1$1,911,632ExcessFromYear1Amt
Excess From Current Year$1,827,956ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerMichael T FriesContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CIVIC CENTER CONSERVANCY
1410 N GRANT ST STE C205DENVERCO80203N/APCGeneral & Unrestricted$10,000
DENVER BIENNIAL OF THE AMERICAS CORPORATION
1550 WEWATTA ST STE 950DENVERCO80202N/APCGeneral & Unrestricted$100,000
GLOBAL DOWN SYNDROME FOUNDATION
3239 E 2ND AVEDENVERCO80206N/APCCharitable Event$25,000
MCA DENVER
1485 DELGANY STDENVERCO80202N/APCThe Exhibition Endowment; The Scholarship Endowment; The Youth and Family fund$750,000
SCHOOL IN THE WOODS MONTESSORI SCHOOL
4176 E FLORIDA AVEDENVERCO80222N/APCGeneral & Unrestricted$10,000
SELFLESS LOVE FOUNDATION INC
1095 MILITARY TRAIL 1033JUPITERFL33458N/APCGeneral & Unrestricted$150,000
SERIESFEST
1550 WEWATTA ST NO 820DENVERCO80202N/APCGeneral & Unrestricted$35,000
TRUSTEES OF COLUMBIA UNIVERSITY
33 WEST 60TH ST 7TH FLOORNEW YORKNY10023N/APCThe Fries Professorship of Media and Technology Fund$250,000
TRUSTEES OF COLUMBIA UNIVERSITY
33 WEST 60TH ST 7TH FLOORNEW YORKNY10023N/APCCharitable Event$100,000
WESLEYAN UNIVERSITY The Wesleyan Fund (obsolete)
318 HIGH STMIDDLETOWNCT06459N/APCJeanine Basinger Center for Film Studies$475,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,905,000TotalGrantOrContriPdDurYrAmt

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$122ExclusionAmt
FieldValueIRS element (for citing)
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$274,410ExclusionAmt
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$274,532ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$274,532TotalIncomeProducingActyAmt

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

FieldValueIRS element (for citing)
StockLIBERTY GLOBAL PLC - SERIES CStockNm
EOY Book Value$486,186EOYBookValueAmt
EOYFMV$459,272EOYFMVAmt

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationAs explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2021, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $1,905,000. This amount represents 25% or more of the Foundation's net assets of $2,255,821 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2021. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein.ExplanationTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$15,243$15,243
State or Local Filing Fees$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
990-PF Estimated Tax for 2021$3,900
990-PF Extension for 2020$30,520

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