KAREN AND RICK HARGROVE FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
KAREN AND RICK HARGROVE FOUNDATION (EIN 77-0587271)
Tax period
2021-07-01 to 2022-06-30
Filed
2022-11-10
IRS object ID
202223149349102317
Schema version
2021v4.1
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)
Return2022-11-10T13:39:06-08:00ReturnTs
Tax Period End2022-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN770460195PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1McGilloway Ray Brown & KaufmanBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1379 WEST MARKET STREETAddressLine1Txt
CitySALINASCityNm
State AbbreviationCAStateAbbreviationCd
ZIP93901ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN770587271EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Karen & Rick Hargrove FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlKAREBusinessNameControlTxt
Phone8317222244PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1100 Oceanview DriveAddressLine1Txt
CityLa Selva BeachCityNm
State AbbreviationCAStateAbbreviationCd
ZIP95076ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRichard HargrovePersonNm
Person TitlePresident & DirPersonTitleTxt
Signature2022-11-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstRichardPersonFirstNm
Person LastHargrovePersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonPatricia M Kaufman CPAPreparerPersonNm
PTINP00312047PTIN
Phone8314242737PhoneNum

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)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$5,659,019FMVAssetsEOYAmt
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$78,444DividendsRevAndExpnssAmt
Dividends Net Invst Incm$78,444DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$269,264NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$777,283GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$269,264CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$347,708TotalRevAndExpnssAmt
Total Net Invst Incm$347,708TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$1,552AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$775AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$777AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss$162OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$162OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$25TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$25TaxesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$1,739TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$937TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$802TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$825,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$825,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$826,739TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$937TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$825,802TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$479,031ExcessRevenueOverExpensesAmt
Net Investment Income$346,771NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$25,891SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$54,879SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$54,879SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$87,147CorporateStockBOYAmt
Corporate Stock EOY$5,162,540CorporateStockEOYAmt
Corporate Stock EOYFMV$5,162,540CorporateStockEOYFMVAmt
Corporate Bonds BOY$993,315CorporateBondsBOYAmt
Corporate Bonds EOY$441,600CorporateBondsEOYAmt
Corporate Bonds EOYFMV$441,600CorporateBondsEOYFMVAmt
Total Assets BOY$1,106,353TotalAssetsBOYAmt
Total Assets EOY$5,659,019TotalAssetsEOYAmt
Total Assets EOYFMV$5,659,019TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,106,353RetainedEarningBOYAmt
Retained Earning EOY$5,659,019RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,106,353TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$5,659,019TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,106,353TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$5,659,019TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,106,353TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$479,031ExcessRevenueOverExpensesAmt
Other Increases$5,031,697OtherIncreasesAmt
Subtotal$5,659,019SubtotalAmt
Tot Net Ast Or Fund Balances EOY$5,659,019TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
18212.36 PIMCOP2017-11-212021-08-06$220,000$223,206-$3,206-$3,206
307283.28 MSFTP2017-11-212021-10-22$307,283$2,261$305,022$305,022
4604.54 PIMCOP2017-11-212022-05-11$50,000$62,907-$12,907-$12,907
18365.955 PIMCOP2017-11-212022-06-13$200,000$219,645-$19,645-$19,645
FieldValueIRS element (for citing)
Capital Gain Net Income$269,264CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$4,820InvestmentIncomeExciseTaxAmt
Subtotal$4,820SubtotalAmt
Tax Based On Investment Income$4,820TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$1,217EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$1,217TotalPaymentsAndCreditsAmt
Tax Due$3,603TaxDueAmt
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 StateCAOrgReportOrRegisterStateCd
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 Line1McGilloway Ray Brown & KaufmBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8313733337PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12511 Garden Road Suite A-180AddressLine1Txt
CityMontereyCityNm
State AbbreviationCAStateAbbreviationCd
ZIP93940ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Richard Hargrove
100 Oceanview DriveLa Selva BeachCA95067President8.00$0
Karen Hargrove
100 Oceanview DriveLa Selva BeachCA95067TREASURER8.00$0
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$6,877,445AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$96,836AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,974,281TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$6,974,281AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$104,614CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,869,667NetVlNoncharitableAssetsAmt
Minimum Investment Return$343,483MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$343,483MinimumInvestmentReturnAmt
Tax Based On Investment Income$4,820TaxBasedOnInvestmentIncomeAmt
Total Tax$4,820TotalTaxAmt
Distributable Before Adj$338,663DistributableBeforeAdjAmt
Distributable Before Ded$338,663DistributableBeforeDedAmt
Distributable As Adjusted$338,663DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$825,802ExpensesAndContributionsAmt
Qualifying Distributions$825,802QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$338,663DistributableAsAdjustedAmt
Excess Distribution Cyov Yr4$149,711ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$65,466ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$1,472ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$464,521ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$681,170TotalExcessDistributionCyovAmt
Qualifying Distributions$825,802QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$338,663AppliedToCurrentYearAmt
Remaining Distri From Corpus$487,139RemainingDistriFromCorpusAmt
Total Corpus$1,168,309TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,168,309ExcessDistriCyovToNextYrAmt
Excess From Year4$149,711ExcessFromYear4Amt
Excess From Year3$65,466ExcessFromYear3Amt
Excess From Year2$1,472ExcessFromYear2Amt
Excess From Year1$464,521ExcessFromYear1Amt
Excess From Current Year$487,139ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerRichard HargroveContributingManagerNm
Contributing ManagerKaren HargroveContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
THE SPCA FOR MONTEREY COUNTY
PO BOX 3058MONTEREYCA93942NonePCANIMAL PROTECTION$150,000
NAVY POSTGRADUATE SCHOOL FOUNDATION
283 COLLEGE WAYMONTEREYCA93943NonePCEDUCATION$375,000
STANFORD UNIVERSITY -HOOVER INSTITU
434 GALVEZ MALLSTANFORDCA94305NonePCEDUCATION$200,000
BOYS GIRLS CLUBS OF MONTEREY
1332 LA SALLE AVESEASIDECA93955NonePCCHILDREN SERVICES$50,000
Monterey Bay Aquarium
886 Cannery RowMontereyCA93940nonePCExhibitions$50,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$825,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$78,444ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$269,264ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$347,708ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$347,708TotalIncomeProducingActyAmt

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 ExpenseCategoryTxt
Amt$1,552Amt
Net Investment Income$775NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$777DisbursementsCharitablePrpsAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment FeesCategoryTxt
Amt$162Amt
Net Investment Income$162NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryRegistration Fee & OtherCategoryTxt
Amt$25Amt
Disbursements Charitable Prps$25DisbursementsCharitablePrpsAmt

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