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THE VELMANS FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
THE VELMANS FOUNDATION INC (EIN 13-3321706)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-05-16
IRS object ID
202211369349103481
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 ReturnHeader

FieldValueIRS element (for citing)
Return2022-05-16T12:16:46-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN042530803PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1SMITH WATSON & COMPANY LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line17 NORTH ST SUITE 205AddressLine1Txt
CityPITTSFIELDCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01201ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN133321706EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE VELMANS FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlVELMBusinessNameControlTxt
Phone4132292709PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 178AddressLine1Txt
CitySHEFFIELDCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01257ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonPAULINE EDITH VELMANSPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone4132292709PhoneNum
Signature2022-05-10SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstPAULINE EDITHPersonFirstNm
Person LastVELMANSPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJEFFREY BELAIR CPAPreparerPersonNm
PTINP00845921PTIN
Phone4134649940PhoneNum
Preparation2022-05-13PreparationDt
Self EmployedYes (X)SelfEmployedInd
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$213,050FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,776ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$2,394InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$2,394InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$2,394InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$3,859DividendsRevAndExpnssAmt
Dividends Net Invst Incm$3,859DividendsNetInvstIncmAmt
Dividends Adj Net Incm$3,859DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$2,492NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$33,849GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$2,492CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$206NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$11,521TotalRevAndExpnssAmt
Total Net Invst Incm$8,745TotalNetInvstIncmAmt
Total Adj Net Incm$6,459TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$2,650AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,325AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$1,325AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss$1,618OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$1,618OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$66TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$1,080OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$1,055OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$25OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$5,414TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$3,998TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$1,350TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$5,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$5,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$10,914TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$3,998TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$6,850TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$607ExcessRevenueOverExpensesAmt
Net Investment Income$4,747NetInvestmentIncomeAmt
Adjusted Net Income$6,459AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst EOY$15,213SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$15,213SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY$29,523USGovernmentObligationsBOYAmt
US Government Obligations EOY$27,829USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV$2,836USGovtObligationsEOYFMVAmt
Corporate Stock BOY$87,108CorporateStockBOYAmt
Corporate Stock EOY$82,666CorporateStockEOYAmt
Corporate Stock EOYFMV$145,695CorporateStockEOYFMVAmt
Corporate Bonds BOY$73,153CorporateBondsBOYAmt
Corporate Bonds EOY$47,933CorporateBondsEOYAmt
Corporate Bonds EOYFMV$49,306CorporateBondsEOYFMVAmt
Total Assets BOY$189,784TotalAssetsBOYAmt
Total Assets EOY$173,641TotalAssetsEOYAmt
Total Assets EOYFMV$213,050TotalAssetsEOYFMVAmt
Accounts Payable BOY$16,818AccountsPayableBOYAmt
Accounts Payable EOY$68AccountsPayableEOYAmt
Total Liabilities BOY$16,818TotalLiabilitiesBOYAmt
Total Liabilities EOY$68TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$172,966NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$173,573NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$172,966TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$173,573TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$189,784TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$173,641TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$172,966TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$607ExcessRevenueOverExpensesAmt
Subtotal$173,573SubtotalAmt
Tot Net Ast Or Fund Balances EOY$173,573TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
PUBLICLY TRADED SECURITIESP$5,229$5,023$206$206
PUBLICLY TRADED SECURITIESP$28,081$26,334$1,747$1,747
FieldValueIRS element (for citing)
Capital Gain Net Income$2,492CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$206NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$66InvestmentIncomeExciseTaxAmt
Subtotal$66SubtotalAmt
Tax Based On Investment Income$66TaxBasedOnInvestmentIncomeAmt
Tax Due$66TaxDueAmt

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 StateNYOrgReportOrRegisterStateCd
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
Individual With BooksPAULINE EDITH VELMANSIndividualWithBooksNm
Phone4132292709PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 178AddressLine1Txt
CitySHEFFIELDCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01257ZIPCd
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
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)
PersonPAULINE EDITH VELMANSPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 178AddressLine1Txt
CitySHEFFIELDCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01257ZIPCd
FieldValueIRS element (for citing)
TitleTRUSTEETitleTxt
Average Hrs Per Wk Devoted To Pos1.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$194,339AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$12,241AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$206,580TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$206,580AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$3,099CashDeemedCharitableAmt
Net Vl Noncharitable Assets$203,481NetVlNoncharitableAssetsAmt
Minimum Investment Return$10,174MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$10,174MinimumInvestmentReturnAmt
Tax Based On Investment Income$66TaxBasedOnInvestmentIncomeAmt
Total Tax$66TotalTaxAmt
Distributable Before Adj$10,108DistributableBeforeAdjAmt
Distributable Before Ded$10,108DistributableBeforeDedAmt
Distributable As Adjusted$10,108DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$6,850ExpensesAndContributionsAmt
Qualifying Distributions$6,850QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$10,108DistributableAsAdjustedAmt
Excess Distribution Cyov Yr4$51,438ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$34,551ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$41,943ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$78,096ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$206,028TotalExcessDistributionCyovAmt
Qualifying Distributions$6,850QualifyingDistributionsAmt
Applied To Current Year$6,850AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$3,258ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$3,258ExcessDistributionCyovAppCYAmt
Total Corpus$202,770TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$202,770ExcessDistriCyovToNextYrAmt
Excess From Year4$48,180ExcessFromYear4Amt
Excess From Year3$34,551ExcessFromYear3Amt
Excess From Year2$41,943ExcessFromYear2Amt
Excess From Year1$78,096ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
HEVREH OF SOUTHERN BERKSHIRE INC
270 STATE RDGREAT BARRINGTONMA01230501(C)(3)SUPPORT CHARITABLE ACTIVITIES$500
MAHAIWE PERFORMING ARTS CENTER
91 MAIN STSHEFFIELDMA01257501(C)(3)SUPPORT CHARITABLE ACTIVITIES$1,000
CLOSE ENCOUNTERS WITH MUSIC
PO BOX 34GREAT BARRINGTONMA01230501(C)(3)SUPPORT CHARITABLE ACTIVITIES$1,000
JACOBS PILLOW
358 GEORGE CARTER RDBECKETMA01223501(C)(3)SUPPORT CHARITABLE ACTIVITIES$1,000
NAF
218 WEST 40TH ST 5TH FLNEW YORKNY10018501(C)(3)SUPPORT CHARITABLE ACTIVITIES$2,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$5,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$2,394ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$3,859ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$2,492ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$8,745ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$8,745TotalIncomeProducingActyAmt

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

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$2,650Amt
Net Investment Income$1,325NetInvestmentIncomeAmt
Disbursements Charitable Prps$1,325DisbursementsCharitablePrpsAmt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (6 entries)

BondBondNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
CATERPILLAR FINANCIAL 15000
CAPITAL ONE FINANCIAL 5000
GENERAL MOTORS 5000$5,089$5,002
LAB CORP OF AMERICA HOLDINGS 15000$15,245$15,727
GOLDMAN SACHS 26000$27,599$28,577
MORGAN STANLEY 5000

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (12 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ISHARES CORPORATE BONDS$6,934$7,400
CALAMOS CONVERT OPP & INC FD 1700$17,828$25,687
WALT DISNEY CO 28$2,799$4,337
DUKE ENERGY 100$8,203$10,490
HONEYWELL INTERNATIONAL 100$9,767$20,851
MCDONALDS 70$9,337$18,765
MERCK & CO 125$6,476$9,580
MICROSOFT 89$5,319$29,932
ORGANON & CO 12$315$365
3M COMPANY 45$7,000$7,993
WEYERHAEUSER CO 250$8,688$10,295
IRON MOUNTAIN 125

Investments Govt Obligations Sch InvestmentsGovtObligationsSch

FieldValueIRS element (for citing)
US Govt Obligations Book Vl EOY$27,829USGovtObligationsBookVlEOYAmt
US Govt Obligations EOYFMV$2,836USGovtObligationsEOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
FILING FEES$50$25$25
OFFICE EXPENSES$1,030$1,030

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryINVESTMENT FEESCategoryTxt
Amt$1,618Amt
Net Investment Income$1,618NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryINCOME TAXES - FEDERALCategoryTxt
Amt$66Amt

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