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THE KARESE FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
THE KARESE FOUNDATION (EIN 47-5125279)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-15
IRS object ID
202123209349100902
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)
Return2021-11-15T21:30:38-08:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN911537751PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Barry W Merrell CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1316 W Boone Ste 670AddressLine1Txt
CitySpokaneCityNm
State AbbreviationWAStateAbbreviationCd
ZIP99201ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN475125279EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE KARESE FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlKAREBusinessNameControlTxt
Phone5092382708PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 499AddressLine1Txt
CityCOLBERTCityNm
State AbbreviationWAStateAbbreviationCd
ZIP99005ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFOSTER H CHASE JRPersonNm
Person TitlePresidentPersonTitleTxt
Signature2021-11-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstFOSTER H CHASEPersonFirstNm
Person LastJRPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBARRY W MERRELLPreparerPersonNm
PTINP00055845PTIN
Phone5093269266PhoneNum
Self EmployedYes (X)SelfEmployedInd

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$330,865FMVAssetsEOYAmt
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$1,002DividendsRevAndExpnssAmt
Dividends Net Invst Incm$1,002DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$25,185NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$137,653GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$25,185CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$11,278OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$11,278OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$37,465TotalRevAndExpnssAmt
Total Net Invst Incm$37,465TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$967OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$967OtherProfFeesNetInvstIncmAmt
Other Expenses Rev And Expnss$3,476OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$3,476OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$4,443TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$967TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$3,476TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$75,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$75,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$79,443TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$967TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$78,476TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$41,978ExcessRevenueOverExpensesAmt
Net Investment Income$36,498NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$8,425CashBOYAmt
Cash EOY$29,117CashEOYAmt
Cash EOYFMV$29,117CashEOYFMVAmt
Other Nts And Loans Rcvbl$281,427OtherNtsAndLoansRcvblAmt
Other Nts And Loans Rcvbl BOY$282,385OtherNtsAndLoansRcvblBOYAmt
Other Nts And Loans Rcvbl EOY$281,427OtherNtsAndLoansRcvblEOYAmt
Other Nts And Loans Rcvbl EOYFMV$281,427OtherNtsAndLoansRcvblEOYFMVAmt
Corporate Stock BOY$78,610CorporateStockBOYAmt
Corporate Stock EOY$18,681CorporateStockEOYAmt
Corporate Stock EOYFMV$20,321CorporateStockEOYFMVAmt
Total Assets BOY$369,420TotalAssetsBOYAmt
Total Assets EOY$329,225TotalAssetsEOYAmt
Total Assets EOYFMV$330,865TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$369,420RetainedEarningBOYAmt
Retained Earning EOY$329,225RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$369,420TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$329,225TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$369,420TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$329,225TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$369,420TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$41,978ExcessRevenueOverExpensesAmt
Other Increases$1,783OtherIncreasesAmt
Subtotal$329,225SubtotalAmt
Tot Net Ast Or Fund Balances EOY$329,225TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
PUBLICLY TRADED SECURITIESP2020-06-012020-12-31$53,085$46,565$6,520$6,520
PUBLICLY TRADED SECURITIESP2010-01-012020-12-31$84,568$65,903$18,665$18,665
FieldValueIRS element (for citing)
Capital Gain Net Income$25,185CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$507InvestmentIncomeExciseTaxAmt
Subtotal$507SubtotalAmt
Tax Based On Investment Income$507TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$10EsPenaltyAmt
Tax Due$517TaxDueAmt

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
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 Line1FOSTER H CHASE JRBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5092382708PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 499AddressLine1Txt
CityCOLBERTCityNm
State AbbreviationWAStateAbbreviationCd
ZIP99005ZIPCd
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
BRENDA JO CHASE
PO BOX 499COLBERTWA99005Treasurer1.00$0
FOSTER H CHASE JR
PO BOX 499COLBERTWA99005President1.00$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$20,321AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$281,427FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$301,748TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$301,748AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,526CashDeemedCharitableAmt
Net Vl Noncharitable Assets$297,222NetVlNoncharitableAssetsAmt
Minimum Investment Return$14,861MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$14,861MinimumInvestmentReturnAmt
Tax Based On Investment Income$507TaxBasedOnInvestmentIncomeAmt
Total Tax$507TotalTaxAmt
Distributable Before Adj$14,354DistributableBeforeAdjAmt
Distributable Before Ded$14,354DistributableBeforeDedAmt
Distributable As Adjusted$14,354DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$78,476ExpensesAndContributionsAmt
Qualifying Distributions$78,476QualifyingDistributionsAmt
Adjusted Qualifying Distri$78,476AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$14,354DistributableAsAdjustedAmt
Excess Distribution Cyov Yr4$8,944ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$470,532ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$844,177ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$355,214ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,678,867TotalExcessDistributionCyovAmt
Qualifying Distributions$78,476QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$14,354AppliedToCurrentYearAmt
Remaining Distri From Corpus$64,122RemainingDistriFromCorpusAmt
Total Corpus$1,742,989TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,742,989ExcessDistriCyovToNextYrAmt
Excess From Year4$8,944ExcessFromYear4Amt
Excess From Year3$470,532ExcessFromYear3Amt
Excess From Year2$844,177ExcessFromYear2Amt
Excess From Year1$355,214ExcessFromYear1Amt
Excess From Current Year$64,122ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerBRENDA JO CHASEContributingManagerNm
Contributing ManagerFOSTER H CHASE JRContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
COLLEGE SUCCESS FOUNDATION
2917 W FORT GEORGE WRIGHT DRSPOKANEWA99224N/APCUNRESTRICTED OPERATIONAL FUNDING$50,000
WORLD RELIEF
7 E BALTIMORE STREETBALTIMOREMD21202N/APCUNRESTRICTED OPERATIONAL FUNDING$25,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$75,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,002ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$25,185ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescINTEREST FROM NOTE RECDesc
Exclusion14ExclusionCd
Exclusion$11,278ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$37,465ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$37,465TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (9 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
FULLER&THALER BHV SMCP EQ INST$1,277$1,751
GQG PARTNERS EMRG MKTS EQ INS$832$1,286
HARDING LOEVNER INTL EQTY INST$1,190$1,679
VANGUARD TTL STK MKT ETF$4,633$4,671
DELAWARE VALUE INSTL$3,683$3,741
LAZARD GLB STD INFR PTF INST$862$824
POLEN GROWTH INSTITUTIONAL$4,295$4,322
PRINCIPAL MIDCAP INSTL$1,225$1,239
PRINCIPAL REAL EST SEC INST$684$808

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescADMINISTRATIVE FEESDesc
Revenue And Expenses Per Books$3,476RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$3,476DisbursementsCharitablePrpsAmt

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescINTEREST FROM NOTE RECDesc
Revenue And Expenses Per Books$11,278RevenueAndExpensesPerBooksAmt
Net Investment Income$11,278NetInvestmentIncomeAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescPRIOR YEAR TAX REFUND RECEIVEDDesc
Amt$1,783Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryMANAGEMENT FEESCategoryTxt
Amt$967Amt
Net Investment Income$967NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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