VERENA FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
VERENA FOUNDATION (EIN 26-0129922)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-11-15
IRS object ID
202243199349109349
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)
Return2022-11-15T19:46:39-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DP ACCOUNTING & TAXBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1348 NE 167TH STREETAddressLine1Txt
CityMiamiCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33162ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN260129922EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1VERENA FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlVEREBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line123 SW 3rd StAddressLine1Txt
CityPompano BeachCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33060ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHART PORSCHPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone3056748388PhoneNum
Signature2022-04-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstHARTPersonFirstNm
Person LastPORSCHPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonPRISCILLA MICHELPreparerPersonNm
PTINP01841835PTIN
Phone5612123826PhoneNum
Preparation2022-11-15PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
OOB Security Verification00OOBSecurityVerificationCd
Authentication Assurance LevelAAL2AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
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$8,037FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Gross Rents Rev And Expnss$5,993GrossRentsRevAndExpnssAmt
Total Rev And Expnss$5,993TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$30,480OtherProfFeesRevAndExpnssAmt
Deprec And Dpltn Rev And Expnss$583DeprecAndDpltnRevAndExpnssAmt
Occupancy Rev And Expnss$3,111OccupancyRevAndExpnssAmt
Other Expenses Rev And Expnss$769OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$34,943TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$34,943TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$28,950ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$5,567CashBOYAmt
Cash EOY$8,037CashEOYAmt
Cash EOYFMV$8,037CashEOYFMVAmt
Invst Land Cost Or Other Basis$1,996,907InvstLandCostOrOtherBasisAmt
Land Bldg Investments BOY$1,996,907LandBldgInvestmentsBOYAmt
Land Bldg Investments EOY$1,996,907LandBldgInvestmentsEOYAmt
Other Investments BOY$160,186OtherInvestmentsBOYAmt
Other Investments EOY$160,185OtherInvestmentsEOYAmt
Land Bldg Equip Cost Or Other Bss$116,134LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$102,700LandBldgEquipAccumDeprecAmt
Land BOY$14,017LandBOYAmt
Land EOY$13,434LandEOYAmt
Total Assets BOY$2,176,677TotalAssetsBOYAmt
Total Assets EOY$2,178,563TotalAssetsEOYAmt
Total Assets EOYFMV$8,037TotalAssetsEOYFMVAmt
Loans From Officers BOY$51,824LoansFromOfficersBOYAmt
Loans From Officers EOY$83,187LoansFromOfficersEOYAmt
Other Liabilities BOY$527OtherLiabilitiesBOYAmt
Total Liabilities BOY$52,351TotalLiabilitiesBOYAmt
Total Liabilities EOY$83,187TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$2,124,326RetainedEarningBOYAmt
Retained Earning EOY$2,095,376RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,124,326TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,095,376TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,176,677TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,178,563TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,124,326TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$28,950ExcessRevenueOverExpensesAmt
Subtotal$2,095,376SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,095,376TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt

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 StateFLOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityYes (true)OwnControlledEntityInd
Donor Advised FundYes (true)DonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Individual With BooksVERENA FOUNDATIONIndividualWithBooksNm
Phone3056748388PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line123 SW 3rd StAddressLine1Txt
CityPompano BeachCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33060ZIPCd
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
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
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

FieldValueIRS element (for citing)
PersonHARTMUT PORSCHPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line123 SW 3rd StAddressLine1Txt
CityPompano BeachCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33060ZIPCd
FieldValueIRS element (for citing)
TitleDIRECTORTitleTxt
Average Hrs Per Wk Devoted To Pos20.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$703,443AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$99AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$703,542TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$703,542AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$10,553CashDeemedCharitableAmt
Net Vl Noncharitable Assets$692,989NetVlNoncharitableAssetsAmt
Minimum Investment Return$34,649MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$34,649MinimumInvestmentReturnAmt
Distributable Before Adj$34,649DistributableBeforeAdjAmt
Distributable Before Ded$34,649DistributableBeforeDedAmt
Distributable As Adjusted$34,649DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$0ExpensesAndContributionsAmt
Set Aside Cash Distri Test$36,126SetAsideCashDistriTestAmt
Qualifying Distributions$36,126QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$34,649DistributableAsAdjustedAmt
Undistributed Income PY$34,105UndistributedIncomePYAmt
Qualifying Distributions$36,126QualifyingDistributionsAmt
Applied To Year1$34,105AppliedToYear1Amt
Applied To Current Year$2,021AppliedToCurrentYearAmt
Undistributed Income CY$32,628UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerHARRT PORSCHContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonHARTMUT PORSCHRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line123 SW 3rd StAddressLine1Txt
CityPompano BeachCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33060ZIPCd
FieldValueIRS element (for citing)
Recipient Phone3056748388RecipientPhoneNum
Form And Info And MaterialsMAIL OR EMAILVERENAFOUNDATION@GMAIL.COMFormAndInfoAndMaterialsTxt
Submission DeadlinesNONESubmissionDeadlinesTxt
Restrictions On AwardsARTS & EDUCATION RELATEDRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientForeignAddress/AddressLine1TxtCityRecipientForeignAddress/CityNmProvince Or StateRecipientForeignAddress/ProvinceOrStateNmCountryRecipientForeignAddress/CountryCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
RACHEL BIAMANIH
240 HAATSO RDACCRAACCRAGHNONEISTUDENT FINANCIAL AID$500
SAMPRAM BHATIWHITE
97 SPINTEX RDACCRAACCRAGHNONEISTUDENT FINANCIAL AID$600
FRANCIS AMUMSIPH
202 BOULEVARD WESTLANDACCRAACCRAGHNONEISTUDENT FINANCIAL AID$255
VINCE NGISWE
HOUSE NO 301 TAIFAACCRAACCRAGHNONEISTUDENT FINANCIAL AID$1,010
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$2,365TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Program Service Revenue Dtl ProgramServiceRevenueDtl

FieldValueIRS element (for citing)
DescPROPERTY RENTALDesc
Business531110BusinessCd
Exclusion03ExclusionCd

Net Rntl Incm Re Not Debt Fincd Prop NetRntlIncmReNotDebtFincdProp

FieldValueIRS element (for citing)
Exclusion16ExclusionCd

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

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (6 entries)

PropertyPropertyDescAcquiredAcquiredDtCost Or Other BasisCostOrOtherBasisAmtPrior Year DepreciationPriorYearDepreciationAmtComputation MethodComputationMethodTxtLifeLifeRtCurrent Year ExpenseCurrentYearExpenseAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmt
FURNITURE2006-01-01$72,155$72,155SL7$0$0$0
LEASEHOLD IMPROV2006-01-01$22,738$8,721SL39$583$0$0
OFFICE EQUIPMENT2007-01-01$18,941$18,941SL7$0$0$0
COMPUTER2008-07-01$1,855$1,855M5$0$0$0
COMPUTER2013-07-31$374$374M5$0$0$0
OFFICE EQUIPMENT2015-01-01$71$71SL1$0$0$0

Investments Land Schedule2 InvestmentsLandSchedule2

Investment Land InvestmentLandGrp

FieldValueIRS element (for citing)
Category Or ItemLAND HOLDING BALAMCategoryOrItemTxt
Cost Or Other Basis$1,996,907CostOrOtherBasisAmt
Accumulated Depreciation$0AccumulatedDepreciationAmt
Book Value$1,996,907BookValueAmt
EOYFMV$0EOYFMVAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (5 entries)

Category Or ItemCategoryOrItemTxtBook ValueBookValueAmtEOYFMVEOYFMVAmt
ZIMBABWE LAND$10,660$0
PAINTINGS AND FRAMES$57,568$0
ZIMBABWE ART CENTER$43,720$0
ART WORK$48,237$0
ARCUEIL$0$0

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (5 entries)

Category Or ItemCategoryOrItemTxtCost Or Other BasisCostOrOtherBasisAmtAccumulated DepreciationAccumulatedDepreciationAmtBook ValueBookValueAmtEOYFMVEOYFMVAmt
COMPUTERS 3028$1,855$1,855$0$0
OFFICE EQUIPMENT 3027$19,012$19,012$0$0
LEASEHOLD IMPROVEMENTS 3026$22,738$9,304$13,434$0
FURNITURE 3025$72,155$72,155$0$0
COMPUTER 3028$374$374$0$0

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp (2 entries)

TitleTitleTxtLoan OriginalLoanOriginalAmtBalance DueBalanceDueAmtInterestInterestRtConsideration FMVConsiderationFMVAmt
HARTMUT PORSCH
DIRECTOR$0$58,0510$0
BALAM INVESTMENTS
$25,136$25,1360$0

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (6 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
BANK SERVICE CHARGES$412$0$0$0
MARKETING$0$0$0$0
OFFICE EXPENSE$0$0$0$0
LICENSE AND PERMITS$0$0$0$0
BUSINESS EXPENSE$0$0$0$0
TELEPHONE$357$0$0$0

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail (2 entries)

DescDescBOY Book ValueBOYBookValueAmtEOY Book ValueEOYBookValueAmt
Other liabilities$0$0
CREDIT CARD$527$0

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
PROFESSIONAL FEES OTHER$25,136$0$0$0
PROFESSIONAL FEES OTHER$5,344$0$0$0

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