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PATRICK M MCCARTHY FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
PATRICK M MCCARTHY FOUNDATION INC (EIN 26-2804772)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-05-31
IRS object ID
202211519349100021
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)
Return2022-05-31T09:59:22-07:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN952101327PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Lund & Guttry LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line136917 Cook Street Ste 102AddressLine1Txt
CityPalm DesertCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92211ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN262804772EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Edeltraud McCarthy Foundation IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPATRBusinessNameControlTxt
Phone7603469773PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line175483 14th Green DriveAddressLine1Txt
CityIndian WellsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92210ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonEdeltraud McCarthyPersonNm
Person TitleTrusteePersonTitleTxt
Phone7603469773PhoneNum
Signature2022-05-18SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstEdeltraudPersonFirstNm
Person LastMcCarthyPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKeith H LyrlaPreparerPersonNm
PTINP00542524PTIN
Phone7605682242PhoneNum

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)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Name ChangeYes (X)NameChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$12,020,745FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$241,197DividendsRevAndExpnssAmt
Dividends Net Invst Incm$241,197DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$556,121NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$3,095,603GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$556,121CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$797,318TotalRevAndExpnssAmt
Total Net Invst Incm$797,318TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$4,785AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$2,392AccountingFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$99,964OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$96,086OtherProfFeesNetInvstIncmAmt
Other Prof Fees Dsbrs Chrtbl$1,939OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss$3,288TaxesRevAndExpnssAmt
Taxes Net Invst Incm$1,491TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$297TaxesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$108,037TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$99,969TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$2,236TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$429,876ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$429,876ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$537,913TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$99,969TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$432,112TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$259,405ExcessRevenueOverExpensesAmt
Net Investment Income$697,349NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$150,992CashBOYAmt
Cash EOY$306,259CashEOYAmt
Cash EOYFMV$306,259CashEOYFMVAmt
Corporate Stock BOY$7,933,961CorporateStockBOYAmt
Corporate Stock EOY$8,216,782CorporateStockEOYAmt
Corporate Stock EOYFMV$11,714,486CorporateStockEOYFMVAmt
Total Assets BOY$8,084,953TotalAssetsBOYAmt
Total Assets EOY$8,523,041TotalAssetsEOYAmt
Total Assets EOYFMV$12,020,745TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$9,603,288CapitalStockBOYAmt
Capital Stock EOY$9,603,288CapitalStockEOYAmt
Retained Earning BOY-$1,518,335RetainedEarningBOYAmt
Retained Earning EOY-$1,080,247RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$8,084,953TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$8,523,041TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$8,084,953TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$8,523,041TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$8,084,953TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$259,405ExcessRevenueOverExpensesAmt
Other Increases$178,683OtherIncreasesAmt
Subtotal$8,523,041SubtotalAmt
Tot Net Ast Or Fund Balances EOY$8,523,041TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (6 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdGross Sales PriceGrossSalesPriceAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmtCost Or Other BasisCostOrOtherBasisAmt
CAPITAL GAIN DISTRIBUTIONSP$10,633$10,633$10,633
csP$446,568$6,685$6,685$439,883
csP$199,761$199,761
csP$688,353$99,608$99,608$588,745
csP$1,512,808$317,224$317,224$1,195,584
csP$237,480$121,971$121,971$115,509
FieldValueIRS element (for citing)
Capital Gain Net Income$556,121CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$556,121NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$9,693InvestmentIncomeExciseTaxAmt
Subtotal$9,693SubtotalAmt
Tax Based On Investment Income$9,693TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$5,531EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$5,531TotalPaymentsAndCreditsAmt
Tax Due$4,162TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Edeltraud McCarthyBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7603469773PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line175483 14th Green DriveAddressLine1Txt
CityIndian WellsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92210ZIPCd
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

FieldValueIRS element (for citing)
PersonEdeltraud McCarthyPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line175483 14th Green DriveAddressLine1Txt
CityIndian WellsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92210ZIPCd
FieldValueIRS element (for citing)
TitleTrusteeTitleTxt
Average Hrs Per Wk Devoted To Pos10.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$10,969,710AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$287,896AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$11,257,606TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$11,257,606AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$168,864CashDeemedCharitableAmt
Net Vl Noncharitable Assets$11,088,742NetVlNoncharitableAssetsAmt
Minimum Investment Return$554,437MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$554,437MinimumInvestmentReturnAmt
Tax Based On Investment Income$9,693TaxBasedOnInvestmentIncomeAmt
Total Tax$9,693TotalTaxAmt
Distributable Before Adj$544,744DistributableBeforeAdjAmt
Distributable Before Ded$544,744DistributableBeforeDedAmt
Distributable As Adjusted$544,744DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$432,112ExpensesAndContributionsAmt
Qualifying Distributions$432,112QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$544,744DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1$27,802ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$27,802TotalExcessDistributionCyovAmt
Qualifying Distributions$432,112QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$432,112AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$27,802ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$27,802ExcessDistributionCyovAppCYAmt
Undistributed Income CY$84,830UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (13 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Living Desert Reserve
47-900 portola avpalm desertCA92260nonePCgeneral$71,000
miscellaneous charitable organizati
36917 cook stPalm DesertCA92211nonePCgeneral$43,800
MCCALLUM THEATRE
73000 FRED WARING DRIVEPALM DESERTCA92260NONEPCgeneral$12,076
ALASKA RAPTOR CENTER
1000 RAPTOR WAYSITKAAK99835NONEPCgeneral$5,000
MARTHAS VILLAGE KITCHEN
83791 DATE AVEINDIOCA92201NONEPCgeneral$10,000
SPECIAL OLYMPICS
1 EUNICE KENNEDY SHRIVER WAYLAWRENCEVILLENJ08648NONEPCgeneral$1,000
Coachella Valley Rescue Mission
47470 Van Buren StIndioCA92201NONEPCgeneral$50,000
Loma Linda University Health
25455 Barton Road 102BLoma LindaCA92354NONEPCgeneral$210,000
Salvation Army
36917 cook stpalm desertCA92211NONEPCgeneral$6,000
Palm Springs Art Museum
101 N Museum DrPalm SpringsCA92262NONEPCgeneral$5,000
Ronald McDonald
36917 cook stPalm DesertCA92211NONEPCgeneral$1,000
find food bank
36917 cook stpalm desertCA92211NONEPCgeneral$5,000
DAV
36917 cook stpalm desertCA92211NONEPCgeneral$10,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$429,876TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$241,197ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Related Or Exempt Function Incm$556,121RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$241,197ExclusionAmt
Related Or Exempt Function Incm$556,121RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$797,318TotalIncomeProducingActyAmt

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$4,785Amt
Net Investment Income$2,392NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail (2 entries)

DescDescAmtAmt
alternative investment distributions$172,040
non dividend distributions$6,643

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Investment fees$96,086$96,086$0$0
legal fees$3,878$0$0$1,939

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxtAmtAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmtNet Investment IncomeNetInvestmentIncomeAmt
Corp tax$297$297
FEDERAL ESTIMATED TAX PAYMENTS$1,500
foreign tax paid$1,491$1,491

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