2022-11-15T07:59:19-06:00 2021-12-31 204193611 Batts Morrison Wales & Lee PA 801 North Orange Avenue Suite 800 Orlando FL 32801 990PF 2021-01-01 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 2021 2022-09-23 18:48:47Z X X X 5957238 X X 12 12 76598 76598 507643 1046127 507643 342814 340995 0 927067 925248 0 0 0 0 0 103102 5322 0 97780 33038 1705 0 31333 15160 2744 0 12416 21250 21250 0 0 62999 52201 0 7209 17403 0 0 7685 523 0 7161 76613 4330 0 72283 337250 88075 0 228182 0 170000 337250 88075 0 398182 589817 837173 0 22438 33802 33802 304409 1113070 1113070 31883 37938 37938 3645018 3376211 3376211 976925 966973 966973 1028840 601127 445116 427713 427713 2580 1531 1531 5428369 5957238 5957238 22457 26888 215000 15000 56245 56935 293702 98823 X 5134667 5858415 5134667 5858415 5428369 5957238 5134667 589817 133931 5858415 0 5858415 Vanguard Total Stock Market Index Fund 750000 351860 398140 398140 EuroPacific Growth Fund 250000 186624 63376 63376 Capital Gains Dividends P 46127 46127 46127 507643 11637 0 11637 0 11637 2640 0 0 0 2640 90 9087 0 0 0 0 0 0 0 1 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 Joy MacMillan 74 King Street St Augustine FL 32084 Executive Director 40.00 52651 11800 0 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. 42500 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. 89600 0 4964376 263631 39469 5267476 0 0 5267476 79012 5188464 259423 259423 11637 11637 247786 0 247786 0 247786 398182 0 398182 247786 0 0 34085 79069 45565 1383 12094 172196 398182 0 0 0 247786 150396 0 0 322592 0 0 0 0 0 0 34085 288507 79069 45565 1383 12094 150396 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. 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 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 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 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 170000 0 14 12 14 76598 18 342814 18 507643 0 927067 0 927067 0 0 0 0 0 0 0 0 0 0 Accounting Fees 15160 2744 0 12416 Vehicle 1978-01-01 14041 14041 SL 0.000000000000 0 0 0 Historical Rental Properties F&E 1985-12-31 57067 40371 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 237190 SL 0.000000000000 0 0 0 Building Improvements 1989-06-30 411997 289924 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 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, 2021.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 for net investment income purposes. The new CPA's firm analysis was not complete until after the original due date of the 2021 Form 990-PF. 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. The Foundation is also preparing the 2021 Form 990-PF to report the rental activities as subject to the tax on net investment income.Since the new CPA firm's analysis associated with the correct treatment and computation of the rental activities for net investment income purposes was not complete before the due date of the 2021 Form 990-PF, 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 966973 966973 Vanguard Total Stock Market Index Fund 2689665 2689665 American Funds EuroPacific Growth Fund 412596 412596 BlackRock Multi-Asset Income Fund 273950 273950 Vehicle 14041 14041 0 Historical Rental Properties F&E 57067 40371 16696 Historical Research F&E 19601 19601 0 Buildings 272032 237190 34842 Building Improvements 411997 289924 122073 Books 25000 0 25000 Land 229102 0 229102 Accrued Interest Receivable 2580 1531 1531 Insurance 46870 3085 0 43785 Repairs and Maitenance - Historic Preservation Properties 19401 0 0 19401 Office Supplies and Expense 3757 388 0 3369 Storage - Research Artifacts 1853 0 0 1853 Licenses and Fees 274 50 0 224 Other 4458 807 0 3651 Real Property Rent Income - Historic Properties 340795 340795 Return of Grant Funds (not previously treated as a qualifying distribution) 1819 0 Miscellaneous Income 200 200 Unrealized Gains and Losses 133931 Due to Affiliated Agency 33542 35029 Pension Obligation 22703 21906 Investment Fees 21250 21250 0 0 Payroll Taxes 7601 392 0 7209 Property Taxes 51809 51809 0 0 Form 990-PF Excise Tax 3589 0 0 0