WALLY FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
WALLY FOUNDATION INC (EIN 34-1992544)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-07
IRS object ID
202103119349100205
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)
Return2021-11-07T12:07:59-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MADELINE G WEINREBE CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1103 N RIDING DRAddressLine1Txt
CityMOORESTOWNCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08057ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN341992544EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE WALLY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWALLBusinessNameControlTxt
Phone9132624246PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 8583AddressLine1Txt
CityPRAIRIE VILLAGECityNm
State AbbreviationKSStateAbbreviationCd
ZIP66208ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonELLEN BRESKYPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone9132624246PhoneNum
Signature2021-10-31SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstELLENPersonFirstNm
Person LastBRESKYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMADELINE WEINREBEPreparerPersonNm
PTINP00185043PTIN
Phone8562354345PhoneNum
Preparation2021-10-25PreparationDt
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$264,067FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$25,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$3InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$3InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$696DividendsRevAndExpnssAmt
Dividends Net Invst Incm$696DividendsNetInvstIncmAmt
Total Rev And Expnss$25,699TotalRevAndExpnssAmt
Total Net Invst Incm$699TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$1,000AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,000AccountingFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$5,487OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$5,487OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$40TaxesRevAndExpnssAmt
Taxes Net Invst Incm$40TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$246OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$246OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$6,773TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$6,773TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$24,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$24,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$30,773TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$6,773TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$24,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$5,074ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$20,565CashBOYAmt
Cash EOY$14,741CashEOYAmt
Cash EOYFMV$14,741CashEOYFMVAmt
Corporate Stock BOY$45,438CorporateStockBOYAmt
Corporate Stock EOY$45,438CorporateStockEOYAmt
Corporate Stock EOYFMV$249,326CorporateStockEOYFMVAmt
Total Assets BOY$66,003TotalAssetsBOYAmt
Total Assets EOY$60,179TotalAssetsEOYAmt
Total Assets EOYFMV$264,067TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$66,003RetainedEarningBOYAmt
Retained Earning EOY$60,179RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$66,003TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$60,179TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$66,003TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$60,179TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$66,003TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$5,074ExcessRevenueOverExpensesAmt
Subtotal$60,929SubtotalAmt
Other Decreases$750OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$60,179TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Estimated Plus Ovpmt Incm Tx$209EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$209TotalPaymentsAndCreditsAmt
Overpayment$209OverpaymentAmt
Applied To ES Tax$209AppliedToESTaxAmt

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 StateKSOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenfalseForm990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNONEWebsiteAddressTxt
Individual With BooksELLEN BRESKYIndividualWithBooksNm
Phone9132624246PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line13411 W 87TH STAddressLine1Txt
CityLEAWOODCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66206ZIPCd
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
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

FieldValueIRS element (for citing)
PersonELLEN BRESKYPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13411 W 87TH STAddressLine1Txt
CityLEAWOODCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66206ZIPCd
FieldValueIRS element (for citing)
TitlePRESIDENTTitleTxt
Average Hrs Per Wk Devoted To Pos1.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$230,000AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$18,000AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$249,327FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$497,327TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$497,327AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$7,460CashDeemedCharitableAmt
Net Vl Noncharitable Assets$489,867NetVlNoncharitableAssetsAmt
Minimum Investment Return$24,493MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$24,493MinimumInvestmentReturnAmt
Distributable Before Adj$24,493DistributableBeforeAdjAmt
Distributable Before Ded$24,493DistributableBeforeDedAmt
Distributable As Adjusted$24,493DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$24,000ExpensesAndContributionsAmt
Qualifying Distributions$24,000QualifyingDistributionsAmt
Adjusted Qualifying Distri$24,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$24,493DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$20,000ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$13,993ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$15,391ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$17,825ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$51,391ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$118,600TotalExcessDistributionCyovAmt
Qualifying Distributions$24,000QualifyingDistributionsAmt
Applied To Current Year$24,000AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$493ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$493ExcessDistributionCyovAppCYAmt
Total Corpus$118,107TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$19,507ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$98,600ExcessDistriCyovToNextYrAmt
Excess From Year4$13,993ExcessFromYear4Amt
Excess From Year3$15,391ExcessFromYear3Amt
Excess From Year2$17,825ExcessFromYear2Amt
Excess From Year1$51,391ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE ATTACHED SCHEDULEBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1VARIOUSAddressLine1Txt
Address Line2VARIOUSAddressLine2Txt
CityKANSAS CITYCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66208ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationshipTxt
Grant Or Contribution PurposeGENERAL SUPPORTGrantOrContributionPurposeTxt
Amt$24,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$24,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$3RelatedOrExemptFunctionIncmAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$696RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$699RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$699TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number4LineNumberTxt
Relationship StatementINTEREST AND DIVIDENDS ON MONIES HELD FOR CONTRIBUTIONRelationshipStatementTxt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonSTEVE AND ELLEN BRESKYContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line13411 W 87TH STAddressLine1Txt
CityLEAWOODCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66206ZIPCd
FieldValueIRS element (for citing)
Total Contributions$25,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT ACCOUNTING FEESCategoryTxt
Amt$1,000Amt
Net Investment Income$1,000NetInvestmentIncomeAmt

Expln Of Non Filing With AG Stmt ExplnOfNonFilingWithAGStmt

FieldValueIRS element (for citing)
ExplanationTHE KANSAS SECRETARY OF STATE AND ATTORNEY GENERAL DO NOT REQUIRE A COPY OF FORM 990-PF TO BE FILED WITH THE KANSAS NOT-FOR-PROFIT ANNUAL REPORT OR WITH THE ATTORNEY GENERAL'S OFFICE. A COPY WILL BE FURNISHED TO THE SECRETARY OF STATE AND / OR ATTORNEY GENERAL UPON THEIR REQUEST.ExplanationTxt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (4 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ISHARES RUSSELL 3000 GROWTH INDEX FU$13,299$59,422
ISHARES RUSSELL 3000 INDEX FUND$3,465$11,178
GOOGLE INC. CLASS C NON VTG$15,743$98,105
GOOGLE INC. CLASS A NON VTG$12,931$80,621

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescFEDERAL INCOME TAXESDesc
Amt$750Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
POSTAGE$30$30
SUPPLIES$216$216

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT OTHER PROFESSIONAL FEESCategoryTxt
Amt$5,487Amt
Net Investment Income$5,487NetInvestmentIncomeAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonSTEVE AND ELLEN BRESKYPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13411 W 87TH STAddressLine1Txt
CityLEAWOODCityNm
State AbbreviationKSStateAbbreviationCd
ZIP66206ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryKANSAS STATE FILING FEECategoryTxt
Amt$40Amt
Net Investment Income$40NetInvestmentIncomeAmt

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