FLORENCE FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: FLORENCE FOUNDATION (EIN 95-7054097)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-05-11
IRS object ID: 202221319349103502
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
Form 990-PF
Accounting Fees Schedule
Depreciation Schedule
Investments Corp Stock Schedule
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-05-11T10:30:16-05:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	HOLTHOUSE CARLIN & VAN TRIGT LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	11444 w OLYMPIC BLVD 11TH FLR	AddressLine1Txt
City	LOS ANGELES	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	90064	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2021-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	957054097	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	THE FLORENCE FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
In Care Of	% WENDY MUNGER CO-TRUSTEE	InCareOfNm
Business Name Control	FLOR	BusinessNameControlTxt
Phone	6264415068	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1000 S MADISON AVENUE	AddressLine1Txt
City	PASADENA	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	91106	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	WENDY MUNGER	PersonNm
Person Title	CO-TRUSTEE	PersonTitleTxt
Phone	6264415068	PhoneNum
Signature	2022-05-11	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	WENDY	PersonFirstNm
Person Last	MUNGER	PersonLastNm

Field	Value	IRS element (for citing)
SSN	XXX-XX-XXXX	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	MICHAEL S DREYER	PreparerPersonNm
PTIN	P00002084	PTIN
Phone	3105661900	PhoneNum
Preparation	2022-05-11	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$1,384,146	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$0	ContriRcvdRevAndExpnssAmt
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$4	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$4	InterestOnSavNetInvstIncmAmt
Total Rev And Expnss	$4	TotalRevAndExpnssAmt
Total Net Invst Incm	$4	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$0	CompOfcrDirTrstRevAndExpnssAmt
Accounting Fees Rev And Expnss	$1,950	AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm	$1,950	AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm	$0	AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps	$0	AccountingFeesChrtblPrpsAmt
Other Expenses Rev And Expnss	$80	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$80	OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss	$2,030	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$2,030	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm	$0	TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$0	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$0	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$2,030	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$2,030	TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm	$0	TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl	$0	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$2,026	ExcessRevenueOverExpensesAmt
Net Investment Income	$0	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$31,768	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$29,742	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$29,742	SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY	$594,576	CorporateStockBOYAmt
Corporate Stock EOY	$594,576	CorporateStockEOYAmt
Corporate Stock EOYFMV	$1,354,404	CorporateStockEOYFMVAmt
Total Assets BOY	$626,344	TotalAssetsBOYAmt
Total Assets EOY	$624,318	TotalAssetsEOYAmt
Total Assets EOYFMV	$1,384,146	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY	$626,344	NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY	$624,318	NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY	$626,344	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$624,318	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$626,344	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$624,318	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$626,344	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$2,026	ExcessRevenueOverExpensesAmt
Subtotal	$624,318	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$624,318	TotNetAstOrFundBalancesEOYAmt

Field	Value	IRS element (for citing)
Cap Gains Loss Tx Invst Incm Detail		CapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$0	InvestmentIncomeExciseTaxAmt
Subtotal	$0	SubtotalAmt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$5,000	EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce	$0	ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits	$5,000	TotalPaymentsAndCreditsAmt
Overpayment	$5,000	OverpaymentAmt
Applied To ES Tax	$5,000	AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	CA	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	WENDY MUNGER CO-TRUSTEE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	6264415068	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	2050 ASHBOURNE DRIVE	AddressLine1Txt
City	SOUTH PASADENA	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	910303908	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Undistr Incm Sect4942a2 Not App	false	UndistrIncmSect4942a2NotAppInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
WENDY MUNGER
1000 S MADISON AVENUE	PASADENA	CA	91106	TRUSTEE	0.0	$0	$0	$0
LEONARD L GUMPORT
1000 S MADISON AVENUE	PASADENA	CA	91106	TRUSTEE	0.0	$0	$0	$0

Field	Value	IRS element (for citing)
Summary Of Direct Chrtbl Acty		SummaryOfDirectChrtblActyGrp
Sum Of Program Related Invst		SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$1,232,302	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$30,437	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$1,262,739	TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$1,262,739	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$18,941	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$1,243,798	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$62,190	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$62,190	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Total Tax	$0	TotalTaxAmt
Distributable Before Adj	$62,190	DistributableBeforeAdjAmt
Distributable Before Ded	$62,190	DistributableBeforeDedAmt
Distributable As Adjusted	$62,190	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

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

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$62,190	DistributableAsAdjustedAmt
Undistributed Income PY	$0	UndistributedIncomePYAmt
Prior Year1	2019	PriorYear1Yr
Prior Year2	2018	PriorYear2Yr
Prior Year3	2017	PriorYear3Yr
Total For Prior Years	$0	TotalForPriorYearsAmt
Excess Distribution Cyov Yr5	$10,969	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr3	$20,833	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$6,671	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$788	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$39,261	TotalExcessDistributionCyovAmt
Qualifying Distributions	$0	QualifyingDistributionsAmt
Applied To Year1	$0	AppliedToYear1Amt
Remaining Distri From Corpus	$0	RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus	$39,261	ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY	$39,261	ExcessDistributionCyovAppCYAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$22,929	UndistributedIncomeCYAmt

Field	Value	IRS element (for citing)
Private Operating Foundations		PrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	WENDY MUNGER	ContributingManagerNm
Contributing Manager	LEONARD L GUMPORT	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Field	Value	IRS element (for citing)
Fees Contracts From Govt Ag		FeesContractsFromGovtAgGrp
Membership Dues And Assmnt		MembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$4	ExclusionAmt

Field	Value	IRS element (for citing)
Dividends And Interest From Sec Dtl		DividendsAndInterestFromSecDtl
Net Rntl Incm Re Debt Fincd Prop		NetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd Prop		NetRntlIncmReNotDebtFincdProp
Net Rental Income Personal Prop		NetRentalIncomePersonalPropGrp
Other Investment Income		OtherInvestmentIncomeGrp
Gain Sales Ast Oth Than Invntry		GainSalesAstOthThanInvntryGrp
Net Income Loss From Special Evt		NetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of Invntry		GrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Exclusion	$4	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$4	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	TAX RETURN PREPARATION	CategoryTxt
Amt	$1,950	Amt
Net Investment Income	$1,950	NetInvestmentIncomeAmt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
3 SHS BERKSHIRE HATHAWAY INC	$593,400	$1,351,986
70 SHS LEE ENTERPRISES INC REG	$1,176	$2,418

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

Field	Value	IRS element (for citing)
Desc	BANK CHARGES	Desc
Revenue And Expenses Per Books	$80	RevenueAndExpensesPerBooksAmt
Net Investment Income	$80	NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	FRANCHISE TAX BOARD	CategoryTxt