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MCKARNS FAMILY FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
MCKARNS FAMILY FOUNDATION (EIN 34-1664641)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-07-11
IRS object ID
202101929349100000
Schema version
2020v4.0
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)
Return2021-07-11T04:26:18-07:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN341380250PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Herrens Tax Service LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line112837 Cenfield St NEAddressLine1Txt
CityAllianceCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44601ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN341664641EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MCKARNS FAMILY FOUNDATIONBusinessNameLine1Txt
Business Name Line2TR DTD 12311990BusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlMCKABusinessNameControlTxt
Phone3302232180PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line129950 CAMPBELL RDAddressLine1Txt
CityHANOVERTONCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44423ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonWILLIAM T MCKARNSPersonNm
Person TitleCO-TRUSTEEPersonTitleTxt
Signature2021-07-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstWILLIAM TPersonFirstNm
Person LastMCKARNSPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCarolyn J GabricPreparerPersonNm
PTINP00104093PTIN
Phone3308755701PhoneNum

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)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Final ReturnYes (X)FinalReturnInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$0FMVAssetsEOYAmt
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$754DividendsRevAndExpnssAmt
Dividends Net Invst Incm$754DividendsNetInvstIncmAmt
Dividends Adj Net Incm$754DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss-$124NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$8,046GrossSalesPriceAmt
Net ST Capital Gain Adj Net Incm$16NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$630TotalRevAndExpnssAmt
Total Net Invst Incm$754TotalNetInvstIncmAmt
Total Adj Net Incm$770TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$130LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$52LegalFeesNetInvstIncmAmt
Legal Fees Dsbrs Chrtbl$78LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$1,025AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$410AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$615AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$53TaxesRevAndExpnssAmt
Taxes Net Invst Incm$21TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$32TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$50OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$20OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$30OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$1,258TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$503TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$755TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$36,901ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$36,901ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$38,159TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$503TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$37,656TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$37,529ExcessRevenueOverExpensesAmt
Net Investment Income$251NetInvestmentIncomeAmt
Adjusted Net Income$770AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$2,192SavAndTempCashInvstBOYAmt
Corporate Stock BOY$11,593CorporateStockBOYAmt
Total Assets BOY$13,785TotalAssetsBOYAmt
Total Assets EOY$0TotalAssetsEOYAmt
Total Assets EOYFMV$0TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$5,022CapitalStockBOYAmt
Additional Paid In Capital BOY$5,014AdditionalPaidInCapitalBOYAmt
Retained Earning BOY$3,749RetainedEarningBOYAmt
Tot Net Ast Or Fund Balances BOY$13,785TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$0TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$13,785TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$0TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$13,785TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$37,529ExcessRevenueOverExpensesAmt
Other Increases$23,744OtherIncreasesAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (5 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmtCost Or Other BasisCostOrOtherBasisAmt
DODGE & COX CGDP2011-12-202020-12-31$67$67$67
92 DODGE & COXP2019-12-312020-10-01$614$16$16$598
84 DODGE & COXP2012-01-012020-05-06$3,950-$297-$297$4,247
93 DODGE & COXP2012-01-012020-10-01$3,365$86$86$3,279
84 DODGE & COXP2011-12-202020-05-06$50$4$4$46
FieldValueIRS element (for citing)
Capital Gain Net Income-$124CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$16NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3InvestmentIncomeExciseTaxAmt
Subtotal$3SubtotalAmt
Tax Based On Investment Income$3TaxBasedOnInvestmentIncomeAmt
Tax Due$3TaxDueAmt
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 EtcYes (true)OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
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 Line1WILLIAM T MCKARNSBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3302232180PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line129950 CAMPBELL RDAddressLine1Txt
CityHANOVERTONCityNm
State AbbreviationOHStateAbbreviationCd
ZIP44423ZIPCd
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
WILLIAM T MCKARNS
29950 CAMPBELL RDHANOVERTONOH44423CO-TRUSTEE0.25$0
PAULINE M MCKARNS
29950 CAMPBELL RDHANOVERTONOH44423CO-TRUSTEE0.25$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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Tax Based On Investment Income$3TaxBasedOnInvestmentIncomeAmt
Total Tax$3TotalTaxAmt
Distributable Before Adj$3DistributableBeforeAdjAmt
Distributable Before Ded$3DistributableBeforeDedAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$37,656ExpensesAndContributionsAmt
Qualifying Distributions$37,656QualifyingDistributionsAmt
Adjusted Qualifying Distri$37,656AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$5,506ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$5,448ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$16,571ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$4,602ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$5,842ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$37,969TotalExcessDistributionCyovAmt
Qualifying Distributions$37,656QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$37,656RemainingDistriFromCorpusAmt
Total Corpus$75,625TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$5,506ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$70,119ExcessDistriCyovToNextYrAmt
Excess From Year4$5,448ExcessFromYear4Amt
Excess From Year3$16,571ExcessFromYear3Amt
Excess From Year2$4,602ExcessFromYear2Amt
Excess From Year1$5,842ExcessFromYear1Amt
Excess From Current Year$37,656ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
ST JOHNS CHURCH
PO BOX 309HANOVERTONOH44423N/APCRELIGIOUS ACTIVITIES$7,400
BISHOPS APPEAL DIOCESE OF YOUNGSTOWN
PO BOX 1195YOUNGSTOWNOH44501N/APCRELIGIOUS ACTIVITIES$2,000
FIRST BRETHREN CHURCH
27333 MAIN STNORTH GEORGETOWNOH44655N/APCRELIGIOUS ACTIVITIES$50
KNIGHTS OF COLUMBUS
PO BOX 133SUMMITVILLEOH43962N/APCCHARITABLE ACTIVITIES$100
SALEM COMMUNITY FOUNDATION
PO BOX 553SALEMOH44460N/APCCHARITABLE ACTIVITIES$20,934
SALEM COMMUNITY FOUNDATION
PO BOX 533SALEMOH44460N/APCCHARITABLE ACTIVITIES$6,417
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$36,901TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$754RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm-$124RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$630RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$630TotalIncomeProducingActyAmt

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)
CategoryTax Preparation Fee Form 990CategoryTxt
Amt$1,025Amt
Net Investment Income$410NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$615DisbursementsCharitablePrpsAmt

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

FieldValueIRS element (for citing)
Form And Line ReferenceGeneral Explanation Supplemental Information for Form 990-PFFormAndLineReferenceDesc
Medium ExplanationFinal Return:Assets consisting of 50 shares of Walt Disney Stock valued at $6,417.50 and 150 shares of Pepsico Inc. Stock valued at $20,934.00 were transferred by charitable gift to the Salem Community Foundation at PO Box 533, Salem OH 44460, EIN 34-1001130, a valid 501(c) (3) nonprofit organization.The liquidation plan is attached to this tax return.Final distribution of assets occurred on 10.23.2020 and liquidation occurred on 10.27.2020.MediumExplanationTxt

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationTermination of the McKarns Family Foundation was made on October 27, 2020 by transferring all remaining investments and funds to the Salem Community Foundation pursuant to ORC 5804.14 and Section 3(B) of the Trust, thereby creating a Donor Advised Fund by which the remaining funds will, in the future, be distributed to charitable organizations.The Salem Community Foundation, a public non-profit charitable trust, has as its mission to improve the quality of life in Salem, Ohio, and the immediate area. The mission of the Salem Community Foundation is to assess and meet changing community needs and interests through financial awards, and to assist donors to build and preserve enduring assets for charitable purposes. Grants are provided through endowment funds established by generous donors and support a broad range of needs in the areas of arts and humanities, health and human services, public and community services, and education.ExplanationTxt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLegal ServicesCategoryTxt
Legal Fees$130LegalFeesAmt
Net Investment Income$52NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$78DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescOhio Filing FeesDesc
Revenue And Expenses Per Books$50RevenueAndExpensesPerBooksAmt
Net Investment Income$20NetInvestmentIncomeAmt
Disbursements Charitable Prps$30DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescAll investments transferred to Salem Community FoundationDesc
Amt$23,744Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryU.S. TreasuryCategoryTxt
Amt$53Amt
Net Investment Income$21NetInvestmentIncomeAmt
Disbursements Charitable Prps$32DisbursementsCharitablePrpsAmt

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