PROSPECT COMMUNITY FDN INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
PROSPECT COMMUNITY FDN INC (EIN 83-3090105)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-08-27
IRS object ID
202122399349100212
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)
Return2021-08-27T11:29:14-05:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN370623191PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LARSSON WOODYARD & HENSON LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 426AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP619440426ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN833090105EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PROSPECT COMMUNITY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPROSBusinessNameControlTxt
Phone2174654154PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonERIC VOLKMANNPersonNm
Person TitleCHAIRMANPersonTitleTxt
Phone2174654154PhoneNum
Signature2021-08-26SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstERICPersonFirstNm
Person LastVOLKMANNPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARLA D COFFMANPreparerPersonNm
PTINP00973603PTIN
Phone2174656494PhoneNum
Preparation2021-08-27PreparationDt
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Name ChangeYes (X)NameChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,352,490FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$691,000ContriRcvdRevAndExpnssAmt
Total Rev And Expnss$691,000TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$2,365LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$2,365LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$11,000AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$11,000AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss$1,330OtherProfFeesRevAndExpnssAmt
Other Prof Fees Dsbrs Chrtbl$1,330OtherProfFeesDsbrsChrtblAmt
Other Expenses Rev And Expnss$11,990OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$11,990OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$26,685TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$26,685TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$26,685TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$26,685TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$664,315ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$299,975CashBOYAmt
Cash EOY$434,278CashEOYAmt
Cash EOYFMV$434,278CashEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$918,212LandBldgEquipCostOrOtherBssAmt
Land BOY$388,200LandBOYAmt
Land EOY$918,212LandEOYAmt
Land EOYFMV$918,212LandEOYFMVAmt
Total Assets BOY$688,175TotalAssetsBOYAmt
Total Assets EOY$1,352,490TotalAssetsEOYAmt
Total Assets EOYFMV$1,352,490TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$688,175NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$1,352,490NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$688,175TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,352,490TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$688,175TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,352,490TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$688,175TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$664,315ExcessRevenueOverExpensesAmt
Subtotal$1,352,490SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,352,490TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt

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 StateILOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksCAROL HUGHESIndividualWithBooksNm
Phone2174654154PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
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 (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ERIC VOLKMANN
PO BOX 400PARISIL61944CHAIRMAN2.00$0$0$0
JENNELLE ADAMS
PO BOX 400PARISIL61944VICE CHAIRMA1.00$0$0$0
CAROL HUGHES
PO BOX 400PARISIL61944TREASURER1.00$0$0$0
NORMA PRUITT
PO BOX 400PARISIL61944SECRETARY1.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1EXPENDITURES RELATED TO DEVELOPING COMMUNITY PARKS AND OTHER BEAUTIFICATION PROJECTS.Description1Txt
Expenses1$26,685Expenses1Amt

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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$286,596AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$286,596TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$286,596AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,299CashDeemedCharitableAmt
Net Vl Noncharitable Assets$282,297NetVlNoncharitableAssetsAmt
Minimum Investment Return$14,115MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$26,685ExpensesAndContributionsAmt
Charitable Assets Acquis Paid$89,012CharitableAssetsAcquisPaidAmt
Qualifying Distributions$115,697QualifyingDistributionsAmt
Adjusted Qualifying Distri$115,697AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$115,697QualifyingDistributionsAmt
Remaining Distri From Corpus$115,697RemainingDistriFromCorpusAmt
Total Corpus$115,697TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Private Operating Fndtn Ruling2021-03-02PrivateOperatingFndtnRulingDt
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$115,697CurrentYearAmt
Year1$25Year1Amt
Total$115,722TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$115,697CurrentYearAmt
Year1$25Year1Amt
Total$115,722TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$9,410CurrentYearAmt
Year1$13,231Year1Amt
Year2$1Year2Amt
Total$22,642TotalAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonPROSPECT BANKRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
FieldValueIRS element (for citing)
Recipient Phone2144654154RecipientPhoneNum
Form And Info And MaterialsWRITTEN APPEALFormAndInfoAndMaterialsTxt
Submission DeadlinesNOSubmissionDeadlinesTxt
Restrictions On AwardsDEVELOPMENT AND OPERATION OF PUBLIC PARKS, AMPHITHEATER AND COMMUNITY PARKS, COMMUNITY GARDEN AND OTHER COMMUNITY BEAUTIFICATION PROJECTS.RestrictionsOnAwardsTxt

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 (3 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionIndNoncash ContributionNoncashContributionInd
EDGAR COUNTY BANCSHARES INC
1PO BOX 400PARISIL61944$250,000Yes (X)
ROBERT MORGAN
2P O BOX 877PARISIL61944$415,000Yes (X)
DMB RESOURCES INC
3P O BOX 621PARISIL61944$26,000Yes (X)

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor2ContributorNum
Noncash PropertyLANDNoncashPropertyDesc
Fair Market Value$415,000FairMarketValueAmt
Received2020-12-30ReceivedDt

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$11,000Amt
Disbursements Charitable Prps$11,000DisbursementsCharitablePrpsAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemLANDCategoryOrItemTxt
Cost Or Other Basis$918,212CostOrOtherBasisAmt
Book Value$918,212BookValueAmt
EOYFMV$918,212EOYFMVAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$2,365LegalFeesAmt
Disbursements Charitable Prps$2,365DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (5 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
FILING FEES$1,733$1,733
PROPERTY TAXES$5,472$5,472
REPAIRS$3,935$3,935
INSURANCE$850$850

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
INSPECTION FEES$500$500
APPRAISAL FEES$830$830

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