AK FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
AK FOUNDATION INC (EIN 83-1146676)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-06-15
IRS object ID
202211669349100011
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)
Return2022-06-15T09:13:15-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN455408593PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ACCOUNTANTS RESOURCE LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13348 PEACHTREE ROAD NE STE 700AddressLine1Txt
CityATLANTACityNm
State AbbreviationGAStateAbbreviationCd
ZIP30326ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN831146676EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1AK FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlAKFOBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line11000 BISCAYNE BLVD SUITE 2401AddressLine1Txt
CityMIAMICityNm
State AbbreviationFLStateAbbreviationCd
ZIP33132ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKAVITHA PALANIPersonNm
Person TitlePRESIDENT/DIRECTORPersonTitleTxt
Phone4042744413PhoneNum
Signature2022-06-02SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstKAVITHAPersonFirstNm
Person LastPALANIPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonROBERT L WHITEHURSTPreparerPersonNm
PTINP01383986PTIN
Phone8882723683PhoneNum
Preparation2022-06-02PreparationDt
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$977,163FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$626,222ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$41,691InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$41,691InterestOnSavNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$3,809NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$9,255GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$3,809CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss-$5,572OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$181OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$666,150TotalRevAndExpnssAmt
Total Net Invst Incm$45,681TotalNetInvstIncmAmt
Other Expenses Rev And Expnss$174OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$174TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$19,670ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$19,670ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$19,844TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$19,670TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$646,306ExcessRevenueOverExpensesAmt
Net Investment Income$45,681NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$90,113CashBOYAmt
Cash EOY$581,400CashEOYAmt
Cash EOYFMV$581,400CashEOYFMVAmt
Other Investments BOY$250,000OtherInvestmentsBOYAmt
Other Investments EOY$395,763OtherInvestmentsEOYAmt
Other Investments EOYFMV$395,763OtherInvestmentsEOYFMVAmt
Total Assets BOY$340,113TotalAssetsBOYAmt
Total Assets EOY$977,163TotalAssetsEOYAmt
Total Assets EOYFMV$977,163TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$340,113NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$977,163NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$340,113TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$977,163TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$340,113TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$977,163TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$340,113TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$646,306ExcessRevenueOverExpensesAmt
Subtotal$986,419SubtotalAmt
Other Decreases$9,256OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$977,163TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyTDAPropertyDesc
How AcquiredPHowAcquiredCd
Acquired2021-01-01AcquiredDt
Sold2021-12-31SoldDt
Gross Sales Price$9,255GrossSalesPriceAmt
Cost Or Other Basis$5,446CostOrOtherBasisAmt
Gain Or Loss$3,809GainOrLossAmt
Gains Minus Excess Or Losses$3,809GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$3,809CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$3,809NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$635InvestmentIncomeExciseTaxAmt
Subtotal$635SubtotalAmt
Tax Based On Investment Income$635TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$530EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$530TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$8EsPenaltyAmt
Tax Due$113TaxDueAmt

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
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 BooksKAVITHA PALANIIndividualWithBooksNm
Phone4042744413PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11000 BISCAYNE BLVD STE 2401AddressLine1Txt
CityMIAMICityNm
State AbbreviationFLStateAbbreviationCd
ZIP33132ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ARUL MURUGAN
610 W DILIDO DRMIAMI BEACHFL33139TREASURER/DI1.00$0$0$0
KAVITHA PALANI
610 W DILIDO DRMIAMI BEACHFL33139PRESIDENT/DI2.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1THE ORGANIZATION GRANTED FUNDS TO 6 DIFFERENT SECTION 501 (C)(3) ORGANIZATIONS THAT ASSIST CHILDREN IN POVERTY, HEALTHCARE, AND EDUCATION.Description1Txt
Expenses1$19,670Expenses1Amt

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$183,888AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$107,920AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$125,000FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$416,808TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$416,808AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$6,252CashDeemedCharitableAmt
Net Vl Noncharitable Assets$410,556NetVlNoncharitableAssetsAmt
Minimum Investment Return$20,528MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$20,528MinimumInvestmentReturnAmt
Tax Based On Investment Income$635TaxBasedOnInvestmentIncomeAmt
Total Tax$635TotalTaxAmt
Distributable Before Adj$19,893DistributableBeforeAdjAmt
Distributable Before Ded$19,893DistributableBeforeDedAmt
Distributable As Adjusted$19,893DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$19,670ExpensesAndContributionsAmt
Qualifying Distributions$19,670QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$19,893DistributableAsAdjustedAmt
Excess Distribution Cyov Yr3$251,588ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$252,527ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$504,115TotalExcessDistributionCyovAmt
Qualifying Distributions$19,670QualifyingDistributionsAmt
Applied To Current Year$19,670AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$223ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$223ExcessDistributionCyovAppCYAmt
Total Corpus$503,892TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$503,892ExcessDistriCyovToNextYrAmt
Excess From Year3$251,365ExcessFromYear3Amt
Excess From Year2$252,527ExcessFromYear2Amt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
HIMALAYAN CHILDREN CHARITIES
PO BOX 3837ALPHARETTAGA30023PROGRAM$2,600
VIBHA
1030 E EL CAMINO REALSUNNYVALECA94087PROGRAM$6,000424
GATS
6050 PEACHTREE PKWYNORCROSSGA30092PROGRAM$10,000240-253
THE RED CURTAIN INTERNATIONAL INC
5413 SAINT LYONN PLACEMARIETTAGA30068PROGRAM$300
GIVE INDIA
PO BOX 50876PALO ALTOCA94303PROGRAM$270
CURE CHILDHOOD
200 ASHFORD CENTER N STEATLANTAGA30338PROGRAM$500250
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$19,670TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$41,691ExclusionAmt

Other Investment Income OtherInvestmentIncomeGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$181ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$3,809RelatedOrExemptFunctionIncmAmt

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
Desc11-11 LEAP CREDITDesc
Business900003BusinessCd
Unrelated Business Taxbl Incm-$5,753UnrelatedBusinessTaxblIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm-$5,753UnrelatedBusinessTaxblIncmAmt
Exclusion$41,872ExclusionAmt
Related Or Exempt Function Incm$3,809RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$39,928TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number8LineNumberTxt
Relationship StatementGENERAL SUPPORTRelationshipStatementTxt

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 (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionIndNoncash ContributionNoncashContributionInd
ARUL KAVITHA MURUGAN
1610 W DILIDO DRMIAMI BEACHFL33139$500,000Yes (X)
ELEVEN ELEVEN ALGO CI LTD
2610 W DILIDO DRMIAMI BEACHFL33139$16,589Yes (X)

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor2ContributorNum
Noncash PropertyALGOSNoncashPropertyDesc
Fair Market Value$16,589FairMarketValueAmt
Received2021-12-05ReceivedDt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (3 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
11-11 LEAP CREDITAT COST$125,000$125,000
TDA CRYPTOAT COST$144,360$144,360
ALGOSAT COST$126,403$126,403

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescUNREALIZED LOSSDesc
Amt$9,256Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
BANK CHARGES$91
WEBSITE$78
OTHER EXPENSES$5

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
OTHER INCOME$181$181
11-11 LEAP CREDIT-$5,753

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