2022-11-15T07:57:56-06:00 2020-12-31 204193611 Batts Morrison Wales & Lee PA 801 North Orange Avenue Suite 800 Orlando FL 32801 990PF 2020-01-01 596152316 St Augustine Foundation Inc STAU 9048296481 74 King Street St Augustine FL 32084 Dr William Abare President 9048296481 2022-11-10 1 Dr William Abare 999009999 P00428093 4077706000 2022-11-10 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z X X X 5428369 X X 17 17 73462 73462 124089 234831 124089 299038 292538 0 496606 490106 0 0 0 0 0 98892 5105 0 93787 32239 1664 0 30575 12560 3616 0 8944 8750 8750 0 0 60530 50153 0 6975 18809 0 0 8631 2485 0 6147 88749 14111 0 74638 329160 85884 0 221066 190001 1 519161 85884 0 221067 -22555 404222 0 29701 22438 22438 123125 304409 304409 28927 31883 31883 3201435 3645018 3645018 896299 976925 976925 1028840 583724 460535 445116 445116 4070 2580 2580 4744092 5428369 5428369 22971 22457 25000 215000 55860 56245 103831 293702 X 4640261 5134667 4640261 5134667 4744092 5428369 4640261 -22555 516961 5134667 0 5134667 Vangaurd Total Stock Market Index Fund P 190000 110742 79258 79258 Capital Gains Dividends P 44831 44831 44831 124089 5619 0 5619 0 5619 1720 0 51 0 2709 938 93 3003 0 0 0 0 0 0 0 0 0 0 1 1 FL 1 0 0 0 0 1 N/A The Foundation 9048296481 74 King Street St Augustine FL 32084 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Dr William Proctor 74 King Street St Augustine FL 32084 President, Chairman, Director 1.00 0 0 0 David Carson 74 King Street St Augustine FL 32084 Treasurer, Secretary 1.00 0 0 0 Kramer Upchurch 74 King Street St Augustine FL 32084 Director 1.00 0 0 0 Dr William Abare 74 King Street St Augustine FL 32084 Director 1.00 0 0 0 NONE 0 NONE 0 The Foundation maintains an extensive historical research library featuring books, microfilms, translation works, articles, and other publications related to the history of St. Augustine, Florida, as well as the U.S. and Spain. These resources are provided free of charge to members of the public who may utilize the resources for historical research projects, publications, lectures, or other purposes. 51560 The Foundation maintains and preserves nine historical properties in St. Augustine, Florida. The Foundation (through the use of vendors, as needed) manages the upkeep of the properties to ensure that the architecture is historically accurate and to preserve the condition of the properties such that the properties can be enjoyed and appreciated by the general public for years to come. 104350 0 4123993 168289 34463 4326745 0 0 4326745 64901 4261844 213092 213092 5619 5619 207473 1500 208973 0 208973 221067 0 221067 0 221067 208973 0 0 69404 34085 79069 45565 1383 229506 221067 0 0 0 208973 12094 0 0 241600 0 0 0 0 0 0 69404 172196 34085 79069 45565 1383 12094 The Board of Directors 74 King Street St Augustine FL 32084 9048298481 Staugustinefound@bellsouth.net The Foundation does not have a universal application for grant awards. The Foundation has a detailed document instructing the potential grantee regarding the information required to be included in the proposal, including: applicant's name, institutional affiliation, and other identifying information; description of the project, methodology, and expected research outcomes (including a connection between the research and the Foundation); a projected budget and the amount requested; expected timetable of the project; professional vitas and references; permits to conduct the research; and other information, includng information regarding the applicant's public charity status. None. Grants are awarded to public charities to support individuals selected by the public institution to conduct serious or advanced research. While grants are available to all qualified applicants, in general, those who have completed the undergraduate level of the education will be given preference. As a rule, grants are not awarded for research conducted by individuals whose academic credentials are below the Ph.D. level. Miscellaneous Adjustment 74 King Street St Augustine FL 32084 PC Miscellaneous adjustment. 1 1 Historic St Augustine Research Institute Inc 74 King Street St Augustine FL 32084 PF To support historical research projects and public lecture series. 20000 Lightner Museum of Hobbies PO Box 334 St Augustine FL 32085 PC Grant for the study and promotion of the history and restoration of St. Augustine. 25000 Friends of Lincolnville Inc 102 ML King Ave St Augustine FL 32084 PC Grant for the study and promotion of the history and restoration of St. Augustine. 25000 Saint Augustine Historical Society 271 Charlotte St St Augustine FL 32084 PC Grant for the study and promotion of the history and restoration of St. Augustine. 25000 Flagler College Inc 74 King Street St Augustine FL 32084 PC Grant for the study and promotion of the history and restoration of St. Augustine. 95000 190000 14 17 14 73462 18 299038 18 124089 0 496606 0 496606 0 0 0 0 0 0 0 0 0 0 Accounting Fees 12560 3616 0 8944 Vehicle 1978-01-01 14041 14041 SL 0.000000000000 0 0 0 Historical Rental Properties F&E 1985-12-31 57067 38157 SL 0.000000000000 0 0 0 Historical Research F&E 1985-12-31 19601 19601 SL 0.000000000000 0 0 0 Buildings 1964-12-31 272032 233052 SL 0.000000000000 0 0 0 Building Improvements 1989-06-30 411997 278873 SL 0.000000000000 0 0 0 Books 1997-12-31 25000 NC 0.000000000000 0 0 0 Land 1978-01-01 229102 NC 0.000000000000 0 0 0 Explanation for Amended Return Form 990-PF, Item G This Form 990-PF is being amended for the following reasons: (1) to report rental income received from real property held for historic preservation purposes as net investment income at Part I, Line 11, Column (b), (2) to update expense allocations at Part I between Column (b) and Column (d) based on a reasonable methodology, (3) to remove grants approved for payment but not paid during 2020 from Part I, Line 25, Column (d), (4) to report transactions for which Part VII-B, Line 1(a)(4) was applicable, (5) to recalculate the value of non-charitable use assets at Part X, and (6) to update excess distribution carryovers at Part XII, Line 3 for amounts that would have been carried forward had the corrections made to Part I (related to the treatment of rental income and the use of a reasonable expense allocation methodology) been applied consistently in the years in which the carryovers were generated.Additionally, certain other minor corrections, clarifications, and adjustments were made to the return. Request for Abatement of Penalties Form 990-PF, Part VI, Line 9 St. Augustine Foundation, Inc.74 King StreetSt. Augustine, FL 32084EIN: 59-6152316For the tax year ended December 31, 2020.The Foundation owns various historic properties in St. Augustine that it preserves, maintains, and exhibits in furtherance of its exempt purposes. The Foundation has no acquisition indebtedness on such properties. The Foundation rents certain of its historical properties to unrelated entities to operate retail businesses, and for other purposes. The Foundation generates rental income from the leases and incurs expenses associated with such rental activity. The Foundation has historically utilized the services of a CPA firm for the preparation of its Form 990-PF, Return of Private Foundation. The Foundation was not aware of and had not been advised that rent payments received from the rental of assets devoted to charitable activities were subject to the excise tax on net investment income [Treas. Reg. 53.4940-1(d)]. In 2022, the Foundation engaged a new CPA firm to evaluate the Foundation's treatment of the rental activities. The Foundation is amending the Forms 990-PF filed for the open years (2019 and 2020) to report the rental activity as subject to the tax on net investment income, and to correct other issues identified on these returns. Because the Foundation was not aware of and had not been advised that rental income derived from assets devoted to charitable activities (or that the expenses associated with the rental activities) were includable in the computation of net investment income, the Foundation respectfully requests that the IRS abate late-payment penalties associated with these Forms 990-PF as the Foundation's late-payment was due to reasonable cause and not willful neglect. Metropolitan West Total Return Bond Fund 976925 976925 Vanguard Total Stock Market Index Fund 2744437 2744437 American Funds EuroPacific Growth Fund 515849 515849 BlackRock Multi-Asset Income Fund 384732 384732 Vehicle 14041 14041 0 Historical Rental Properties F&E 57067 38157 18910 Historical Research F&E 19601 19601 0 Buildings 272032 233052 38980 Building Improvements 411997 278873 133124 Books 25000 0 25000 Land 229102 0 229102 Accrued Interest Receivable 4070 2580 2580 D&O Insurance 4138 1191 0 2947 Liability Insurance 39836 11468 0 28368 Repairs and Maitenance - Historic Preservation Properties 33735 0 0 33735 Office Supplies and Expense 6348 635 0 5713 Storage - Research Artifacts 1853 0 0 1853 Other 2577 742 0 1835 Licenses and Fees 262 75 0 187 Real Property Rent Income - Historic Properties 292538 292538 Return of Grant Funds (not previously treated as a qualifying distribution) 5000 0 Proceeds From Sale of Charitable Asset 1500 0 Unrealized Gains and Losses 516961 Due to Affiliated Agency 32539 33542 Pension Obligation 23321 22703 Investment Fees 8750 8750 0 0 Payroll Taxes 7354 379 0 6975 Property Taxes 49774 49774 0 0 Form 990-PF Excise Tax 3402 0 0 0