PEP FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
PEP FOUNDATION (EIN 22-3376822)
Tax period
2020-01-01 to 2020-12-31
Filed
2022-04-06
IRS object ID
202210969349102011
Schema version
2020v4.0
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 ReturnHeader

FieldValueIRS element (for citing)
Return2022-04-06T11:28:38-07:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN223238410PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Harold V Goovaerts CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1504 Valley Road First FloorAddressLine1Txt
CityWayneCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07470ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN223376822EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PEP FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPEPFBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line143 FRANKLIN PLACEAddressLine1Txt
CitySUMMITCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07901ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonPATRICK J WELSHPersonNm
Person TitleTrusteePersonTitleTxt
Signature2021-06-29SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstPATRICK JPersonFirstNm
Person LastWELSHPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonHAROLD V GOOVAERTS CPAPreparerPersonNm
PTINP01204124PTIN
Phone9736961633PhoneNum
Self EmployedYes (X)SelfEmployedInd

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
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$1,776,915FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$862,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$494InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$494InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$494InterestOnSavingsAdjNetIncmAmt
Total Rev And Expnss$862,494TotalRevAndExpnssAmt
Total Net Invst Incm$494TotalNetInvstIncmAmt
Total Adj Net Incm$494TotalAdjNetIncmAmt
Oth Empl Slrs Wgs Rev And Expnss$368,922OthEmplSlrsWgsRevAndExpnssAmt
Oth Empl Slrs Wgs Net Invst Incm$368,922OthEmplSlrsWgsNetInvstIncmAmt
Oth Empl Slrs Wgs Adj Net Incm$368,922OthEmplSlrsWgsAdjNetIncmAmt
Oth Empl Slrs Wgs Dsbrs Chrtbl$368,922OthEmplSlrsWgsDsbrsChrtblAmt
Taxes Rev And Expnss$30,438TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$30,438TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss$17,172DeprecAndDpltnRevAndExpnssAmt
Deprec And Dpltn Net Invst Incm$17,172DeprecAndDpltnNetInvstIncmAmt
Deprec And Dpltn Adj Net Incm$17,172DeprecAndDpltnAdjNetIncmAmt
Other Expenses Rev And Expnss$306,171OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$306,171OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$722,703TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$386,094TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$386,094TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$705,531TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$722,703TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$386,094TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$386,094TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$705,531TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$139,791ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,009,810SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,172,640SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,172,640SavAndTempCashInvstEOYFMVAmt
Prepaid Expenses BOY$7,112PrepaidExpensesBOYAmt
Invst Land Cost Or Other Basis$604,326InvstLandCostOrOtherBasisAmt
Invst Land Accum Depreciation$252,107InvstLandAccumDepreciationAmt
Land Bldg Investments BOY$369,393LandBldgInvestmentsBOYAmt
Land Bldg Investments EOY$352,219LandBldgInvestmentsEOYAmt
Land EOYFMV$604,275LandEOYFMVAmt
Other Assets EOY$5OtherAssetsEOYAmt
Total Assets BOY$1,386,315TotalAssetsBOYAmt
Total Assets EOY$1,524,864TotalAssetsEOYAmt
Total Assets EOYFMV$1,776,915TotalAssetsEOYFMVAmt
Other Liabilities BOY$1,440OtherLiabilitiesBOYAmt
Other Liabilities EOY$198OtherLiabilitiesEOYAmt
Total Liabilities BOY$1,440TotalLiabilitiesBOYAmt
Total Liabilities EOY$198TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$1,384,875CapitalStockBOYAmt
Capital Stock EOY$1,524,666CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$1,384,875TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,524,666TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,386,315TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,524,864TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,384,875TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$139,791ExcessRevenueOverExpensesAmt
Subtotal$1,524,666SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,524,666TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt

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 GenYes (true)Form990PFFiledWithAttyGenInd
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 Line1TRUSTEESBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9082771106PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line143 FRANKLIN PLACEAddressLine1Txt
CitySUMMITCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07901ZIPCd
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
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 (12 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
PATRICK J WELSH
7 SEA COURTVERO BEACHFL32963Trustee0.00$0
CAROL A WELSH
7 SEA COURTVERO BEACHFL32963Trustee0.00$0
TERI SUZUKI
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
MICHELLE MOON
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
LAUREN NAKACHI
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
MICHELLE DEMUTH
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
DONNA FISK
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
SAMANTHA KANTER
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
MICHAEL MA
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
CHRISTOPHER MOON
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
MARTHA SAYRE
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0
ROBY WEINREICH
43 FRANKLIN PLACESUMMITNJ07901Trustee0.00$0

Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
MICHAEL McCOOK
43 FRANKLIN PLACESUMMITNJ07901EXECUTIVE DIRECTOR40.00$96,000
MELISSA HORN
43 FRANKLIN PLACESUMMITNJ07901DIRECTOR OF POST40.00$80,770
ELIZABETH DEAN
43 FRANKLIN PLACESUMMIT NJNJ07901DIRECTOR OF ACADEM40.00$73,660
FieldValueIRS element (for citing)
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1PEP INCREASES OPPORTUNITY FOR A SELECT GROUP OF MOTIVATED SUMMIT PUBLIC SCHOOL STUDENTS WITH DEMONSTRATED FINANCIAL NEEED. PEP PROVIDES TUITION ASSISTANCE FOR COLLEGE, TUTORING AND ACADEMIC ENRICHMENT, SUMMER CAMP EXPERIENCES AND OTHER SUPPORT, ENSURING THAT PARTICIPANTS ACCOMPLISH A POST SECONDARY EDUCATION AND BECOME PRODUCTIVE ADULTS. THERE ARE APPROXIMATLY 70 CHILDREN IN THE PROGRAMDescription1Txt
Expenses1$0Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$705,531ExpensesAndContributionsAmt
Qualifying Distributions$705,531QualifyingDistributionsAmt
Adjusted Qualifying Distri$705,531AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Qualifying Distributions$705,531QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$705,531RemainingDistriFromCorpusAmt
Total Corpus$705,531TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$705,531ExcessDistriCyovToNextYrAmt
Excess From Current Year$705,531ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonPEP FOUNDATIONRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line143 FRANKLIN PLACEAddressLine1Txt
CitySUMMITCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07901ZIPCd
FieldValueIRS element (for citing)
Recipient Email Addresswww.pepprogramnj.orgRecipientEmailAddressTxt
Form And Info And MaterialsWRITE OR E-MAIL TO RECEIVE INFORMATION AS TO WHAT FORMAT REQUEST MUST BE SUBMITTEDFormAndInfoAndMaterialsTxt
Submission DeadlinesNONESubmissionDeadlinesTxt
Restrictions On AwardsNONERestrictionsOnAwardsTxt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$494ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$494ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$494TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonWELSH FAMILY FOUNDATIONContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line17 SEA COURTAddressLine1Txt
CityVERO BEACHCityNm
State AbbreviationFLStateAbbreviationCd
ZIP32963ZIPCd
FieldValueIRS element (for citing)
Total Contributions$862,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Investments Land Schedule2 InvestmentsLandSchedule2

Investment Land InvestmentLandGrp (2 entries)

Category Or ItemCategoryOrItemTxtCost Or Other BasisCostOrOtherBasisAmtAccumulated DepreciationAccumulatedDepreciationAmtBook ValueBookValueAmt
Buildings$509,826$252,107$257,719
Land$94,500$94,500

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescRoundingDesc
EOY Book Value$5EOYBookValueAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (30 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
BUILDING AND GROUNDS MAINTENANCE$14,929$14,929
CLEANING$12,567$12,567
COLLEGE SUPPORT$1,206$1,206
COPIER RENTAL$3,619$3,619
DUES AND MEMBERSHIPS$463$463
EMPLOYEE FRINGE BENEFITS$4,139$4,139
EMPLOYER SIMPLE IRA CONTRIBUTION$9,109$9,109
EVALUATIONS$700$700
EVENTS FOR KIDS$5,743$5,743
GOVERNANCE$143$143
HEALTH INSURANCE$37,601$37,601
INSURANCE$17,801$17,801
MISCELLANEOUS$25$25
MISCELLANEOUS YEAR ROUND COSTS$336$336
OFFICE AND COMPUTER SUPPLIES AND EXPENSE$7,633$7,633
OUTSIDE BOOKKEEPING SERVICE$8,434$8,434
PAYROLL SERVICE BUREAU AND BANK CHARGES$7,918$7,918
PROGRAMS FOR KIDS$7,257$7,257
SNACKS AND MEALS FOR KIDS$5,257$5,257
SPOT RECOGNITION$1,184$1,184
STAFF PROFESSIONAL DEVELOPMENT$537$537
STUDENT FIELD TRIPS$5,044$5,044
SUMMER CAMP FOR KIDS$2,236$2,236
SUMMER ENRICHMENT TUTORS$16,850$16,850
TECHNOLOGY$10,316$10,316
TELEPHONE AND INTERNET$6,120$6,120
TRANSPORTATION COSTS$2,315$2,315
TUITION ASSISTANCE$113,360$113,360
UTILITIES$3,205$3,205
VAN EXPENSES$124$124

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail (2 entries)

DescDescBOY Book ValueBOYBookValueAmtEOY Book ValueEOYBookValueAmt
SIMPLE SEP PAYABLE$770$198
PAYROLL TAXES PAYABLE$670

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryPAYROLL TAXESCategoryTxt
Amt$30,438Amt
Disbursements Charitable Prps$30,438DisbursementsCharitablePrpsAmt

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