2021-12-22T11:14:43-06:00 2020-12-31 NEW YORK-HURRICANE IDA FOUNDATION SOURCE ONE HOLLOW LN STE 212 LAKE SUCCESS NY 11042 990PF 2020-09-16 853068681 The Silseth Foundation % Foundation Source SILS 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 JOHN M SILSETH PRESIDENT 8008391754 2021-12-21 true JOHN M SILSETH 999009999 Jeffrey D Haskell P01345770 8008391754 2020 2022-09-23 18:48:47Z X X X 330652 X 324375 6 6 8475 286913 265515 332856 265521 0 6500 6500 6500 0 6500 0 0 6500 0 6500 326356 265521 18904 18904 307452 311748 0 326356 330652 0 0 X 326356 0 326356 0 326356 0 326356 326356 326356 Publicly-traded Securities 286913 21398 265515 265515 265515 3691 3691 3691 0 0 3691 false false false false false false false true true DE true false true false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false false false false false false false false false false false false false false false false false false Jennifer S Binversie Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, Sec 0.0 0 0 0 John M Silseth Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, Pres 1.0 0 0 0 John B Silseth Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, Treas 0.0 0 0 0 Karen K Silseth Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, VP 1.0 0 0 0 77937 4489 0 82426 0 82426 1236 81190 1187 1187 3691 3691 0 0 0 6500 0 0 0 0 6500 0 6500 0 2018 2017 2016 6500 0 6500 0 0 6500 0 6500 6500 John M Silseth KAREN K SILSETH X 14 6 18 8475 8481 8481 false false false false false false false false false false X X 1 Silseth John M 15815 Choctaw Trail Brookfield WI 53045 324375 X X 1 TESLA MOTORS INC TSLA, 500 sh. 309375 2020-12-16 ALLEGHANY CP 24067 24148 ALPHABET INC CL C 34593 35038 BANK OF AMERICA CORP 29030 30310 ELI LILLY & CO 17115 16884 FASTENAL COMPANY 24576 24415 INTEL CORP 50555 49820 KINDER MORGAN INC 43254 41010 TESLA MOTORS INC 30938 35284 THE COCA-COLA CO 53324 54839 Administrative Set-Up Fee 5400 5400 Delaware Incorporation Fees 500 500 IRS Application Fees 600 600 The Silseth Foundation (EIN: 85-3068681) respectfully requests abatement of any penalties for late filing of Form 990-PF for taxable year ending December 31, 2020 because the delay was inadvertent, unintended, and due to reasonable causes. Treasury Regulations Section 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to prepare its Form 990-PF for tax period ending 12/31/2020. The Foundation's 2020 Form 990-PF was timely filed on May 3, 2021. The return was originally mailed to the IRS, but was returned along with a notice instructing the Foundation to submit the return electronically. The Foundation's administrator advised the Foundation to submit the return for paper filing initially because at the time the return was filed, the foundation's exempt application was still pending and the IRS does not have the capability to accept e-filed returns for exempt organizations where tax exempt status is still pending. The foundation has since received their federal tax exempt status, and the foundation's administrator is now submitting the return via e-file, and the delay in filing Form 990-PF for the taxable year ending 2020 is no fault or willful neglect of the foundation. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's actions were reasonable and in good faith. These administrative actions were in no way an intentional disregard of the IRS rules and therefore entitled to abatement of any penalty. The organization acted in good faith in complying with the filing deadline and in rectifying the situation as soon as it was known. Therefore, we again request that no penalty be assessed for late filing. Silseth John M 15815 Choctaw Trail Brookfield WI 53045 Silseth Karen K 15815 Choctaw Trail Brookfield WI 53045