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PATRICK M MCCARTHY FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
PATRICK M MCCARTHY FOUNDATION INC (EIN 26-2804772)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-09
IRS object ID
202103139349102640
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)
Return2021-11-09T15:39:08-08:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN952101327PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Lund & Guttry LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line136917 Cook Street Ste 102AddressLine1Txt
CityPalm DesertCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92211ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN262804772EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Patrick M McCarthy Foundation IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPATRBusinessNameControlTxt
Phone7603469773PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line175483 14th Green DriveAddressLine1Txt
CityIndian WellsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92210ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonEdeltraud McCarthyPersonNm
Person TitleTrusteePersonTitleTxt
Signature2021-11-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstEdeltraudPersonFirstNm
Person LastMcCarthyPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKeith H LyrlaPreparerPersonNm
PTINP00542524PTIN
Phone7605682242PhoneNum

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)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$10,377,812FMVAssetsEOYAmt
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$228,322DividendsRevAndExpnssAmt
Dividends Net Invst Incm$228,322DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss-$89,121NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$8,310,390GrossSalesPriceAmt
Total Rev And Expnss$139,201TotalRevAndExpnssAmt
Total Net Invst Incm$228,322TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$3,825AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,912AccountingFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$87,102OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$87,102OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$5,936TaxesRevAndExpnssAmt
Taxes Net Invst Incm$543TaxesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$96,863TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$89,557TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$541,880ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$541,880ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$638,743TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$89,557TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$541,880TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$499,542ExcessRevenueOverExpensesAmt
Net Investment Income$138,765NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$172,844CashBOYAmt
Cash EOY$150,992CashEOYAmt
Cash EOYFMV$150,992CashEOYFMVAmt
Corporate Stock BOY$8,337,781CorporateStockBOYAmt
Corporate Stock EOY$7,933,961CorporateStockEOYAmt
Corporate Stock EOYFMV$10,226,820CorporateStockEOYFMVAmt
Total Assets BOY$8,510,625TotalAssetsBOYAmt
Total Assets EOY$8,084,953TotalAssetsEOYAmt
Total Assets EOYFMV$10,377,812TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$9,603,288CapitalStockBOYAmt
Capital Stock EOY$9,603,288CapitalStockEOYAmt
Retained Earning BOY-$1,092,663RetainedEarningBOYAmt
Retained Earning EOY-$1,518,335RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$8,510,625TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$8,084,953TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$8,510,625TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$8,084,953TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$8,510,625TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$499,542ExcessRevenueOverExpensesAmt
Other Increases$73,870OtherIncreasesAmt
Subtotal$8,084,953SubtotalAmt
Tot Net Ast Or Fund Balances EOY$8,084,953TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdGross Sales PriceGrossSalesPriceAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmtCost Or Other BasisCostOrOtherBasisAmt
CG DistributionsP$6,317$6,317$6,317
Charles SchwabP$3,955,322-$269,366-$269,366$4,224,688
Charles SchwabP$81,025$81,025
Charles SchwabP$4,267,726$173,928$173,928$4,093,798
FieldValueIRS element (for citing)
Capital Gain Net Income-$89,121CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss-$89,121NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,929InvestmentIncomeExciseTaxAmt
Subtotal$1,929SubtotalAmt
Tax Based On Investment Income$1,929TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$5,960EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$5,960TotalPaymentsAndCreditsAmt
Overpayment$4,031OverpaymentAmt
Applied To ES Tax$4,031AppliedToESTaxAmt

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 StateDEOrgReportOrRegisterStateCd
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 Line1Edeltraud McCarthyBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7603469773PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line175483 14th Green DriveAddressLine1Txt
CityIndian WellsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92210ZIPCd
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

FieldValueIRS element (for citing)
PersonEdeltraud McCarthyPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line175483 14th Green DriveAddressLine1Txt
CityIndian WellsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92210ZIPCd
FieldValueIRS element (for citing)
TitleTrusteeTitleTxt
Average Hrs Per Wk Devoted To Pos10.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
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$9,460,268AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$178,686AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$9,638,954TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$9,638,954AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$144,584CashDeemedCharitableAmt
Net Vl Noncharitable Assets$9,494,370NetVlNoncharitableAssetsAmt
Minimum Investment Return$474,719MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$474,719MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,929TaxBasedOnInvestmentIncomeAmt
Total Tax$1,929TotalTaxAmt
Distributable Before Adj$472,790DistributableBeforeAdjAmt
Distributable Before Ded$472,790DistributableBeforeDedAmt
Distributable As Adjusted$472,790DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$541,880ExpensesAndContributionsAmt
Qualifying Distributions$541,880QualifyingDistributionsAmt
Adjusted Qualifying Distri$541,880AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$472,790DistributableAsAdjustedAmt
Undistributed Income PY$41,288UndistributedIncomePYAmt
Qualifying Distributions$541,880QualifyingDistributionsAmt
Applied To Year1$41,288AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$472,790AppliedToCurrentYearAmt
Remaining Distri From Corpus$27,802RemainingDistriFromCorpusAmt
Total Corpus$27,802TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$27,802ExcessDistriCyovToNextYrAmt
Excess From Current Year$27,802ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (22 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Living Desert Reserve
47-900 portola avpalm desertCA92260nonePCgeneral$32,500
college of the desert FOUNDATION
43-500 monterey avepalm desertCA92260noneGOVgeneral$50,000
miscellaneous charitable organizati
36917 cook stPalm DesertCA92211nonePCgeneral$19,000
DESERT ARC
73255 COUNTRY CLUB DRPALM DESERTCA92260NONEPCGeneral$30,000
MCCALLUM THEATRE
73000 FRED WARING DRIVEPALM DESERTCA92260NONEPCgeneral$9,380
ALASKA RAPTOR CENTER
1000 RAPTOR WAYSITKAAK99835NONEPCgeneral$5,000
THE DESERT SYMPHONY
72925 FRED WARING DRIVEPALM DESERTCA92260NONEPCgeneral$10,000
OLIVE CREST
73725 EL PASEO DRIVE ST 23CPALM DESERTCA92260NONEPCgeneral$30,000
MARTHAS VILLAGE KITCHEN
83791 DATE AVEINDIOCA92201NONEPCgeneral$30,000
Coachella Valley Rescue Mission
47470 Van Buren StIndioCA92201NONEPCgeneral$60,000
Loma Linda University Health
25455 Barton Road 102BLoma LindaCA92354NONEPCgeneral$165,000
Salvation Army
36917 cook stpalm desertCA92211NONEPCgeneral$15,000
Palm Springs Art Museum
101 N Museum DrPalm SpringsCA92262NONEPCgeneral$5,000
CDMOD
71701 Gerald Ford DrRancho MirageCA92270NONEPCgeneral$5,000
Boys Girls Club
36917 cook stpalm desertCA92211NONEPCgeneral$10,000
CV Horse Rescue
36917 cook stpalm desertCA92211NONEPCgeneral$5,000
Ronald McDonald
36917 cook stPalm DesertCA92211NONEPCgeneral$5,000
Desert Aids Project
36917 cook stpalm desertCA92211NONEPCgeneral$10,000
the joslyn center
36917 cook stpalm desertCA92211NONEPCgeneral$16,000
find food bank
36917 cook stpalm desertCA92211NONEPCgeneral$10,000
DAV
36917 cook stpalm desertCA92211NONEPCgeneral$15,000
desert healthcare foundation
36917 cook stpalm desertCA92211NONEPCgeneral$5,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$541,880TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$228,322ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion-$89,121ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$139,201ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$139,201TotalIncomeProducingActyAmt

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)
CategoryACCOUNTING FEESCategoryTxt
Amt$3,825Amt
Net Investment Income$1,912NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail (2 entries)

DescDescAmtAmt
alternative investment distributions$52,703
non dividend distributions$21,167

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment feesCategoryTxt
Amt$87,102Amt
Net Investment Income$87,102NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
FEDERAL ESTIMATED TAX PAYMENTS$5,393
foreign tax paid$543$543

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