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297 FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
297 FOUNDATION (EIN 81-4657113)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-07-07
IRS object ID
202211889349101601
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)
Return2022-07-07T11:25:05-05:00ReturnTs
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)
EIN814657113EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The 297 FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name Control297FBusinessNameControlTxt
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)
PersonALLEN HALLIDAYPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8008391754PhoneNum
Signature2022-06-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstALLENPersonFirstNm
Person LastHALLIDAYPersonLastNm
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$8,256,399FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,635,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$39InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$39InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$116,656DividendsRevAndExpnssAmt
Dividends Net Invst Incm$116,656DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$61,128NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$61,128GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$61,128CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$75OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$1,812,898TotalRevAndExpnssAmt
Total Net Invst Incm$177,823TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$21,494OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$21,494OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$1,569TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$30,719OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$30,719OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$53,782TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$21,494TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$30,719TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$171,899ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$171,899ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$225,681TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$21,494TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$202,618TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$1,587,217ExcessRevenueOverExpensesAmt
Net Investment Income$156,329NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$73,451SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,660,668SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,660,668SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$4,881,529CorporateStockBOYAmt
Corporate Stock EOY$4,881,529CorporateStockEOYAmt
Corporate Stock EOYFMV$6,595,731CorporateStockEOYFMVAmt
Total Assets BOY$4,954,980TotalAssetsBOYAmt
Total Assets EOY$6,542,197TotalAssetsEOYAmt
Total Assets EOYFMV$8,256,399TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$4,954,980RetainedEarningBOYAmt
Retained Earning EOY$6,542,197RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$4,954,980TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$6,542,197TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,954,980TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$6,542,197TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,954,980TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$1,587,217ExcessRevenueOverExpensesAmt
Subtotal$6,542,197SubtotalAmt
Tot Net Ast Or Fund Balances EOY$6,542,197TotNetAstOrFundBalancesEOYAmt

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$61,128GrossSalesPriceAmt
Cost Or Other Basis$0CostOrOtherBasisAmt
Gain Or Loss$61,128GainOrLossAmt
Gains Minus Excess Or Losses$61,128GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$61,128CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2,173InvestmentIncomeExciseTaxAmt
Subtotal$2,173SubtotalAmt
Tax Based On Investment Income$2,173TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$1,000EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$1,173ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$2,173TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt

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 FundYes (true)DonorAdvisedFundInd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Allen Halliday
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Pres1.0$0$0$0
Grace M Halliday
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Sec, Treas1.0$0$0$0
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$6,254,440AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$158,574AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,413,014TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$6,413,014AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$96,195CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,316,819NetVlNoncharitableAssetsAmt
Minimum Investment Return$315,841MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$315,841MinimumInvestmentReturnAmt
Tax Based On Investment Income$2,173TaxBasedOnInvestmentIncomeAmt
Total Tax$2,173TotalTaxAmt
Distributable Before Adj$313,668DistributableBeforeAdjAmt
Distributable Before Ded$313,668DistributableBeforeDedAmt
Distributable As Adjusted$313,668DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$202,618ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$202,618QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$313,668DistributableAsAdjustedAmt
Undistributed Income PY$202,617UndistributedIncomePYAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Qualifying Distributions$202,618QualifyingDistributionsAmt
Applied To Year1$202,617AppliedToYear1Amt
Applied To Current Year$1AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$313,667UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerAllen HallidayContributingManagerNm
Contributing ManagerGrace M HallidayContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SCHWAB CHARITABLE FUNDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1211 MAIN STAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94105ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeHALLIDAY FAMILY CHARITABLE DONOR ADVISOR FUNDGrantOrContributionPurposeTxt
Amt$171,899Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$171,899TotalGrantOrContriPdDurYrAmt

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$39ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$116,656ExclusionAmt
FieldValueIRS element (for citing)
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$61,128ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescFederal Tax RefundDesc
Exclusion01ExclusionCd
Exclusion$75ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$177,898ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$177,898TotalIncomeProducingActyAmt

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 PersonHalliday AllenContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line15449 Normandy AvenueAddressLine1Txt
CityMemphisCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38120ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,635,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (15 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ARTISAN GLOBAL VALUE FUND INVE$160,872$181,021
CHARLES SCHWAB INTRNTNL EQ$398,616$458,355
DB X TRACKERS MSCI EUROPE HEDG$338,622$421,608
DOUBLELINE TOTAL RETURN BOND$251,767$246,713
ISHARE SP SMALL CAP 600 INDEX$260,882$385,212
PRESERVER ALTERNATIVE OPPORTUN$263,440$298,584
RTISAN GLOBAL OPPORTUNITIES$130,993$175,611
SCHWAB 1000 INDEX FD$652,448$985,428
SCHWAB STRATEGIC TR US LARGE C$359,578$463,190
SCHWAB U.S. LARGE-CAP GROWTH$234,352$478,478
SCHWAB US DIVIDEND EQUITY ETF$439,004$651,086
SCHWAB US MID CAP$399,132$573,868
SPDR DOW JONES INDUSTRIAL AVER$406,445$547,160
VANGUARD FTSE EUROPEAN ETF$342,071$400,978
WISDOMTREE INTERNATIONAL HDGD$243,307$328,439

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$30,399$30,399
Postage/Delivery Service$31$31
State or Local Filing Fees$289$289

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescFederal Tax RefundDesc
Revenue And Expenses Per Books$75RevenueAndExpensesPerBooksAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment Management ServicesCategoryTxt
Amt$21,494Amt
Net Investment Income$21,494NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
990-PF Estimated Tax for 2021$1,000
990-PF Excise Tax for 2020$569

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