BETA

TOWNSEND FAMILY FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
TOWNSEND FAMILY FOUNDATION (EIN 81-4749431)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-05-03
IRS object ID
202231239349102028
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)
Return2022-05-03T16:39:07-05:00ReturnTs
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)
EIN814749431EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Townsend Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlTOWNBusinessNameControlTxt
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)
PersonSHANNON S TOWNSENDPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8008391754PhoneNum
Signature2022-05-02SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstSHANNON SPersonFirstNm
Person LastTOWNSENDPersonLastNm
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$655,114FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$350,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$19InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$19InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$5,334DividendsRevAndExpnssAmt
Dividends Net Invst Incm$5,334DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$13,009NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$67,334GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$13,009CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$368,362TotalRevAndExpnssAmt
Total Net Invst Incm$18,362TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$2,370OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$2,370OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$50TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$5,874OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,874OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$8,294TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$2,370TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,874TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$11,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$11,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$19,294TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$2,370TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$16,874TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$349,068ExcessRevenueOverExpensesAmt
Net Investment Income$15,992NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$13,473SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$255,575SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$255,575SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$214,298CorporateStockBOYAmt
Corporate Stock EOY$321,264CorporateStockEOYAmt
Corporate Stock EOYFMV$399,539CorporateStockEOYFMVAmt
Total Assets BOY$227,771TotalAssetsBOYAmt
Total Assets EOY$576,839TotalAssetsEOYAmt
Total Assets EOYFMV$655,114TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$227,771RetainedEarningBOYAmt
Retained Earning EOY$576,839RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$227,771TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$576,839TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$227,771TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$576,839TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$227,771TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$349,068ExcessRevenueOverExpensesAmt
Subtotal$576,839SubtotalAmt
Tot Net Ast Or Fund Balances EOY$576,839TotNetAstOrFundBalancesEOYAmt

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$67,334GrossSalesPriceAmt
Cost Or Other Basis$54,325CostOrOtherBasisAmt
Gain Or Loss$13,009GainOrLossAmt
Gains Minus Excess Or Losses$13,009GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$13,009CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$222InvestmentIncomeExciseTaxAmt
Subtotal$222SubtotalAmt
Tax Based On Investment Income$222TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$4EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$4TotalPaymentsAndCreditsAmt
Tax Due$218TaxDueAmt

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 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
Shannon S Townsend
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Pres, Treas1.0$0$0$0
William Townsend
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Sec, VP1.0$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$300,116AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$17,997AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$318,113TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$318,113AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,772CashDeemedCharitableAmt
Net Vl Noncharitable Assets$313,341NetVlNoncharitableAssetsAmt
Minimum Investment Return$15,667MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$15,667MinimumInvestmentReturnAmt
Tax Based On Investment Income$222TaxBasedOnInvestmentIncomeAmt
Total Tax$222TotalTaxAmt
Distributable Before Adj$15,445DistributableBeforeAdjAmt
Distributable Before Ded$15,445DistributableBeforeDedAmt
Distributable As Adjusted$15,445DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$16,874ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$16,874QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$15,445DistributableAsAdjustedAmt
Undistributed Income PY$10,801UndistributedIncomePYAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Qualifying Distributions$16,874QualifyingDistributionsAmt
Applied To Year1$10,801AppliedToYear1Amt
Applied To Current Year$6,073AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$9,372UndistributedIncomeCYAmt
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 ManagerShannon S TownsendContributingManagerNm
Contributing ManagerWilliam TownsendContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
EASTERN SHORE CHAPEL EPISCOPAL CHURCH
2020 LASKIN RDVIRGINIA BEACHVA23454N/APCGeneral & Unrestricted$3,500
KEVIN & BRITTANY KISNER FOUNDATION
PO BOX 784AIKENSC29802N/APCGeneral & Unrestricted$5,000
LIL ROAR CAT RESCUE
928 DIAMOND SPRINGS RD STE 119VIRGINIA BEACHVA23455N/APCVet bills, cat/kitten food, Den rent$2,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$11,000TotalGrantOrContriPdDurYrAmt

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$19ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$5,334ExclusionAmt
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$13,009ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$18,362ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$18,362TotalIncomeProducingActyAmt

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 PersonTownsend WilliamContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line12265 Calvert StreetAddressLine1Txt
CityVirginia BeachCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23451ZIPCd
FieldValueIRS element (for citing)
Total Contributions$350,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (17 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
DFA LARGE CAP INTERNATIONAL PO$20,622$23,976
GUGGENHEIM LIMITED DURATION FU$36,212$35,911
ISHARES CORE MSCI EAFE ETF$16,441$16,570
ISHARES RUSSELL MIDCAP G IN FD$10,329$14,057
ISHARES TRUST RUSSELL 1000 GRO$16,656$37,588
ISHARES TRUST RUSSELL MIDCAP I$6,608$12,036
JANUS HENDERSON MULTI SECTOR I$5,777$5,714
METROPOLITAN WEST RETURN BOND$29,231$29,656
PIMCO INCOME FUND$17,165$16,791
SPDR PORTFOLIO EMERGING MARKET$11,088$10,580
VANGUARD INTERMEDIATE TERM INV$16,676$16,926
VANGUARD MID-CAP ETF$3,239$4,841
VANGUARD S&P 500 ETF$38,986$70,725
VANGUARD SM-CAP ETF$6,627$10,848
VANGUARD TOTAL BOND MARKET IND$55,941$56,706
VANGUARD VALUE ETF$25,660$30,010
WISDOMTREE LC DVDND$4,006$6,604

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescAdministrative FeesDesc
Revenue And Expenses Per Books$5,874RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$5,874DisbursementsCharitablePrpsAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment Management ServicesCategoryTxt
Amt$2,370Amt
Net Investment Income$2,370NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Extension for 2020CategoryTxt
Amt$50Amt

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