BETA

297 FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
297 FOUNDATION (EIN 81-4657113)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-12-09
IRS object ID
202123439349100002
Schema version
2020v4.1
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)
Return2021-12-09T09:02:21-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt
Disaster ReliefNEW YORK-HURRICANE IDADisasterReliefTxt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1Txt
CityLake SuccessCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN814657113EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The 297 FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name Control297FBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonALLEN HALLIDAYPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8008391754PhoneNum
Signature2021-12-08SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstALLENPersonFirstNm
Person LastHALLIDAYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
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$5,681,413FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,025,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$340InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$340InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$83,395DividendsRevAndExpnssAmt
Dividends Net Invst Incm$83,395DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$24,869NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$24,869GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$24,869CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,133,604TotalRevAndExpnssAmt
Total Net Invst Incm$108,604TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$15,268OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$15,268OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$600TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$21,217OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$21,217OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$37,085TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$15,268TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$21,217TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$135,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$135,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$172,085TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$15,268TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$156,217TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$961,519ExcessRevenueOverExpensesAmt
Net Investment Income$93,336NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,033,225SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$73,451SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$73,451SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$2,960,236CorporateStockBOYAmt
Corporate Stock EOY$4,881,529CorporateStockEOYAmt
Corporate Stock EOYFMV$5,607,962CorporateStockEOYFMVAmt
Total Assets BOY$3,993,461TotalAssetsBOYAmt
Total Assets EOY$4,954,980TotalAssetsEOYAmt
Total Assets EOYFMV$5,681,413TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$3,993,461RetainedEarningBOYAmt
Retained Earning EOY$4,954,980RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$3,993,461TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,954,980TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,993,461TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,954,980TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,993,461TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$961,519ExcessRevenueOverExpensesAmt
Subtotal$4,954,980SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,954,980TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$24,869GrossSalesPriceAmt
Cost Or Other Basis$0CostOrOtherBasisAmt
Gain Or Loss$24,869GainOrLossAmt
Gains Minus Excess Or Losses$24,869GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$24,869CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,297InvestmentIncomeExciseTaxAmt
Subtotal$1,297SubtotalAmt
Tax Based On Investment Income$1,297TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$728EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$569ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,297TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd

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 BylawsYes (true)ChangesToArticlesOrBylawsInd
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 FundYes (true)DonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
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
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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Allen Halliday
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Pres1.0$0$0$0
Grace M Halliday
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Sec, Treas1.0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$4,083,881AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$123,666AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,207,547TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$4,207,547AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$63,113CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,144,434NetVlNoncharitableAssetsAmt
Minimum Investment Return$207,222MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$207,222MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,297TaxBasedOnInvestmentIncomeAmt
Total Tax$1,297TotalTaxAmt
Distributable Before Adj$205,925DistributableBeforeAdjAmt
Distributable Before Ded$205,925DistributableBeforeDedAmt
Distributable As Adjusted$205,925DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$156,217ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$156,217QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$156,217AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$205,925DistributableAsAdjustedAmt
Undistributed Income PY$152,909UndistributedIncomePYAmt
Prior Year12018PriorYear1Yr
Prior Year22017PriorYear2Yr
Prior Year32016PriorYear3Yr
Qualifying Distributions$156,217QualifyingDistributionsAmt
Applied To Year1$152,909AppliedToYear1Amt
Applied To Current Year$3,308AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$202,617UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerAllen HallidayContributingManagerNm
Contributing ManagerGrace M HallidayContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SCHWAB CHARITABLE FUNDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1211 MAIN STAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94105ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeHalliday Family Charitable donor advisor FundGrantOrContributionPurposeTxt
Amt$135,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$135,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$340ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$83,395ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$24,869ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$108,604ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$108,604TotalIncomeProducingActyAmt

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 PersonHalliday AllenContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line15449 Normandy AvenueAddressLine1Txt
CityMemphisCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38120ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,025,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (15 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ARTISAN GLOBAL VALUE FUND INVE$160,872$171,465
CHARLES SCHWAB INTRNTNL EQ$398,616$424,630
DB X TRACKERS MSCI EUROPE HEDG$338,622$346,743
DOUBLELINE TOTAL RETURN BOND$251,767$253,830
ISHARE SP SMALL CAP 600 INDEX$260,882$309,152
PRESERVER ALTERNATIVE OPPORTUN$263,440$284,014
RTISAN GLOBAL OPPORTUNITIES$130,993$171,099
SCHWAB 1000 INDEX FD$652,448$795,348
SCHWAB STRATEGIC TR US LARGE C$359,578$376,587
SCHWAB U.S. LARGE-CAP GROWTH$234,352$375,214
SCHWAB US DIVIDEND EQUITY ETF$439,004$516,648
SCHWAB US MID CAP$399,132$486,464
SPDR DOW JONES INDUSTRIAL AVER$406,445$460,520
VANGUARD FTSE EUROPEAN ETF$342,071$353,970
WISDOMTREE INTERNATIONAL HDGD$243,307$282,278

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$21,192$21,192
State or Local Filing Fees$25$25

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment Management ServicesCategoryTxt
Amt$15,268Amt
Net Investment Income$15,268NetInvestmentIncomeAmt

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationThe 297 Foundation (EIN: 81-4657113) 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 return was timely filed on April 22, 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 administrator's tax software was unable to transmit returns marked with a "name change" to be e-filed, since the IRS had never allowed for that before. It wasn't until the Foundation received an IRS notice dated November 1, 2021, that the administrator became aware that the IRS now accepts short period initial returns via e-file and that the software's capability had been updated. 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.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Estimated Tax for 2020CategoryTxt
Amt$600Amt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.