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RECTOR FAMILY FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
RECTOR FAMILY FOUNDATION (EIN 83-3743765)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-09
IRS object ID
202133139349101718
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)
Return2021-11-09T09:18:16-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

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)
EIN833743765EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Rector Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlRECTBusinessNameControlTxt
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)
Personanne sambyalPersonNm
Person TitletreasurerPersonTitleTxt
Phone8008391754PhoneNum
Signature2021-10-27SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstannePersonFirstNm
Person LastsambyalPersonLastNm
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)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,685,132FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$4,523InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$4,523InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$29,780DividendsRevAndExpnssAmt
Dividends Net Invst Incm$29,780DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$44,048NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$212,775GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$44,048CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$78,351TotalRevAndExpnssAmt
Total Net Invst Incm$78,351TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$3,750CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$3,750CompOfcrDirTrstDsbrsChrtblAmt
Pension Empl Bnft Rev And Expnss$381PensionEmplBnftRevAndExpnssAmt
Pension Empl Bnft Dsbrs Chrtbl$381PensionEmplBnftDsbrsChrtblAmt
Taxes Rev And Expnss$1,220TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$15,341OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$15,341OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$20,692TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$19,472TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$50,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$50,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$70,692TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$69,472TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$7,659ExcessRevenueOverExpensesAmt
Net Investment Income$78,351NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,620,945SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$554,247SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$554,247SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$830,795CorporateStockBOYAmt
Corporate Stock EOY$1,905,152CorporateStockEOYAmt
Corporate Stock EOYFMV$2,130,885CorporateStockEOYFMVAmt
Total Assets BOY$2,451,740TotalAssetsBOYAmt
Total Assets EOY$2,459,399TotalAssetsEOYAmt
Total Assets EOYFMV$2,685,132TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$2,451,740RetainedEarningBOYAmt
Retained Earning EOY$2,459,399RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,451,740TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,459,399TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,451,740TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,459,399TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,451,740TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$7,659ExcessRevenueOverExpensesAmt
Subtotal$2,459,399SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,459,399TotNetAstOrFundBalancesEOYAmt

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$212,775GrossSalesPriceAmt
Cost Or Other Basis$168,727CostOrOtherBasisAmt
Gain Or Loss$44,048GainOrLossAmt
Gains Minus Excess Or Losses$44,048GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$44,048CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,089InvestmentIncomeExciseTaxAmt
Subtotal$1,089SubtotalAmt
Tax Based On Investment Income$1,089TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$700EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$420ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,120TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$31OverpaymentAmt
Applied To ES Tax$31AppliedToESTaxAmt

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

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 PrsnYes (true)PayCompDisqualifiedPrsnInd
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 (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Aaron Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
April Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Sec1.0$0$0$0
Christian Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
Curtis Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Pres1.0$0$0$0
Julia Rector
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$0$0$0
Anne Sambyal
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Treas30.0$3,750$0$0
Troy Sambyal
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir1.0$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$1,624,625AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$850,260AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$2,474,885TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$2,474,885AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$37,123CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,437,762NetVlNoncharitableAssetsAmt
Minimum Investment Return$121,888MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$121,888MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,089TaxBasedOnInvestmentIncomeAmt
Total Tax$1,089TotalTaxAmt
Distributable Before Adj$120,799DistributableBeforeAdjAmt
Distributable Before Ded$120,799DistributableBeforeDedAmt
Distributable As Adjusted$120,799DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$69,472ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$69,472QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$69,472AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$120,799DistributableAsAdjustedAmt
Prior Year12018PriorYear1Yr
Prior Year22017PriorYear2Yr
Prior Year32016PriorYear3Yr
Excess Distribution Cyov Yr1$30,823ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$30,823TotalExcessDistributionCyovAmt
Qualifying Distributions$69,472QualifyingDistributionsAmt
Applied To Current Year$69,472AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$30,823ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$30,823ExcessDistributionCyovAppCYAmt
Undistributed Income CY$20,504UndistributedIncomeCYAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerApril RectorContributingManagerNm
Contributing ManagerCurtis RectorContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1ST LUKES UNITED METHODIST CHURCHBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1100 W 86TH STAddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46260ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeBenevolence Fund for individuals in needGrantOrContributionPurposeTxt
Amt$50,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$50,000TotalGrantOrContriPdDurYrAmt

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$4,523ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$29,780ExclusionAmt
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$44,048ExclusionAmt
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$78,351ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$78,351TotalIncomeProducingActyAmt

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

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (12 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
AMERICAN FUNDS EUROPACIFIC GRO$148,396$191,597
CAUSEWAY INTERNATIONAL VALUE F$103,033$117,444
DODGE & COX INCOME FUND$134,298$137,938
DOUBLELINE TOTAL RETURN BOND$216,253$215,589
HARDING LOEVNER INSTITUTIONAL$141,472$172,899
INVESCO S&P 500 EQUAL WEIGHT E$250,544$272,935
ISHARE SP SMALL CAP 600 INDEX$110,378$131,509
LAZARD INTL STRATEGY EQUITY PO$101,647$116,254
METROPOLITAN WEST RETURN BOND$224,432$223,929
SPDR S&P 500 ETF TRUST$282,615$343,969
VANGUARD FTSE EMERGING MARKETS$49,977$61,134
VANGUARD SHORT TERM CORPORATE$142,107$145,688

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (5 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$14,733$14,733
Administrative Set-Up Fee$350$350
Payroll Processing Fees$167$167
Postage/Delivery Service$66$66
State or Local Filing Fees$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
990-PF Estimated Tax for 2020$700
990-PF Excise Tax for 2019$520

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