RED JET FOUNDATION: Form 990PF, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- RED JET FOUNDATION (EIN 41-2021695)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-15
- IRS object ID
- 202143199349101709
- 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
- Form 990-PF
- Schedule B
- Accounting Fees Schedule
- All Oth Prog Rltd Investments Sch
- Depreciation Schedule
- Land Etc Schedule2
- Other Expenses Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-11-15T08:43:12-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390758449 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WIPFLI LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1502 LONDON ROAD SUITE 200 | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55812 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 412021695 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RED JET FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | REDJ | BusinessNameControlTxt |
| Phone | 7634490245 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1245 OAKVIEW ROAD | AddressLine1Txt |
| City | MEDINA | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 553569595 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL J SULLIVAN III | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 7634490245 | PhoneNum |
| Signature | 2021-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DANIEL | PersonFirstNm |
| Person Last | SULLIVAN III | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MICHAEL J PETERSON CPA | PreparerPersonNm |
| PTIN | P01833529 | PTIN |
| Phone | 2187224705 | PhoneNum |
| Preparation | 2021-11-11 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $1,200,811 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $37,813 | ContriRcvdRevAndExpnssAmt |
| Dividends Rev And Expnss | $1 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $1 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $1 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | -$695 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $33,319 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Net ST Capital Gain Adj Net Incm | $0 | NetSTCapitalGainAdjNetIncmAmt |
| Total Rev And Expnss | $37,119 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $1 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $1 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $0 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Adj Net Incm | $0 | CompOfcrDirTrstAdjNetIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $0 | CompOfcrDirTrstDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $5,300 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $5,300 | AccountingFeesChrtblPrpsAmt |
| Deprec And Dpltn Rev And Expnss | $54,791 | DeprecAndDpltnRevAndExpnssAmt |
| Deprec And Dpltn Net Invst Incm | $0 | DeprecAndDpltnNetInvstIncmAmt |
| Deprec And Dpltn Adj Net Incm | $55,433 | DeprecAndDpltnAdjNetIncmAmt |
| Other Expenses Rev And Expnss | $28,007 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $0 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $28,007 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $88,098 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $55,433 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $33,307 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $88,098 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $55,433 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $33,307 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$50,979 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $1 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $0 | CashBOYAmt |
| Cash EOY | $17,151 | CashEOYAmt |
| Cash EOYFMV | $17,151 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $20,912 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $7,573 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $7,573 | SavAndTempCashInvstEOYFMVAmt |
| Inventories BOY | $699,496 | InventoriesBOYAmt |
| Inventories EOY | $699,496 | InventoriesEOYAmt |
| Inventories EOYFMV | $699,496 | InventoriesEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $1,132,362 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $655,771 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $531,382 | LandBOYAmt |
| Land EOY | $476,591 | LandEOYAmt |
| Land EOYFMV | $476,591 | LandEOYFMVAmt |
| Total Assets BOY | $1,251,790 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,200,811 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $1,200,811 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $0 | CapitalStockBOYAmt |
| Capital Stock EOY | $0 | CapitalStockEOYAmt |
| Additional Paid In Capital BOY | $0 | AdditionalPaidInCapitalBOYAmt |
| Additional Paid In Capital EOY | $0 | AdditionalPaidInCapitalEOYAmt |
| Retained Earning BOY | $0 | RetainedEarningBOYAmt |
| Retained Earning EOY | $0 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $1,251,790 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $1,200,811 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $1,251,790 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $1,200,811 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $1,251,790 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$50,979 | ExcessRevenueOverExpensesAmt |
| Other Increases | $0 | OtherIncreasesAmt |
| Subtotal | $1,200,811 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $1,200,811 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | PUBLICLY TRADED SECURITES | PropertyDesc |
| Gross Sales Price | $33,319 | GrossSalesPriceAmt |
| Cost Or Other Basis | $34,014 | CostOrOtherBasisAmt |
| Gain Or Loss | -$695 | GainOrLossAmt |
| Gains Minus Excess Or Losses | -$695 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | -$695 | CapitalGainNetIncomeAmt |
| Net Short Term Capital Gain Loss | -$695 | NetShortTermCapitalGainLossAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $0 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $0 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $0 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $3,763 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $3,763 | TotalPaymentsAndCreditsAmt |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $3,763 | OverpaymentAmt |
| Applied To ES Tax | $3,763 | AppliedToESTaxAmt |
| Refund | $0 | RefundAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | 0 | LegislativePoliticalActyInd |
| More Than100 Spent | 0 | MoreThan100SpentInd |
| Form1120 POL Filed | 0 | Form1120POLFiledInd |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
| Activities Not Previously Rpt | 0 | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | 0 | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | 0 | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (1) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | MN | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | Yes (1) | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | 0 | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (1) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
| Individual With Books | DANIEL J SULLIVAN III | IndividualWithBooksNm |
| Phone | 7634731550 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1245 OAKVIEW ROAD | AddressLine1Txt |
| City | MEDINA | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55356 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | 0 | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | 0 | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | 0 | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | 0 | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | 0 | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Uncorrected Prior Acts | 0 | UncorrectedPriorActsInd |
| Undistributed Income PY | 0 | UndistributedIncomePYInd |
| Business Holdings | 0 | BusinessHoldingsInd |
| Jeopardy Investments | 0 | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | 0 | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | 0 | InfluenceLegislationInd |
| Influence Election | 0 | InfluenceElectionInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL J SULLIVAN III | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1245 OAKVIEW ROAD | AddressLine1Txt |
| City | MEDINA | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55356 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | PRESIDENT | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 2.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Employee Benefit Program | $0 | EmployeeBenefitProgramAmt |
| Expense Account Other Allwnc | $0 | ExpenseAccountOtherAllwncAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | ANOKA COUNTY AIRPORT, BLAINE, MN JUNE 2020THE L-39 AIRCRAFT PERFORMED FORMATION FLIGHT DEMONSTRATIONS. THE AIRCRAFT AND PILOT ALSO PARTICIPATED IN STATIC DISPLAY DEMONSTRATIONS AND CROWD INTERACTIONS: PICTURES WITH CHILDREN PROVIDING EDUCATION INFORMATION TO THE VIEWING PUBLICAPPROXIMATELY 5,000 PEOPLE ATTENDED THE AIR SHOW. | Description1Txt |
| Expenses1 | $0 | Expenses1Amt |
| Description2 | WITTMAN AIRPORT, OSHKOSH, WI, JULY 2020THE MIG 17 STATIC DISPLAY PROVIDING EDUCATION INFORMATION TO THE VIEWING PUBLICAPPROXIMATELY 150,000 PEOPLE ATTENDED THE AIR SHOW. | Description2Txt |
| Expenses2 | $0 | Expenses2Amt |
| Description3 | AIREXPO 2020, EDEN PRAIRIE, MN, JULY 2020THE L-39 AIRCRAFT PERFORMED FORMATION FLIGHT AND STATIC DEMONSTRATIONS. PROVIDING EDUCATION INFORMATION TO THE VIEWING PUBLIC.APPROXIMATELY 10,000 PEOPLE ATTENDED. | Description3Txt |
| Expenses3 | $0 | Expenses3Amt |
| Description4 | NORTHERN ILLINOIS AIRSHOW, WAUKEGAN, IL SEPTEMBER 2020THE L-39 AIRCRAFT PERFORMED FORMATION FLIGHT AND STATIC DEMONSTRATIONS. PROVIDING EDUCATION INFORMATION TO THE VIEWING PUBLIC.APPROXIMATELY 8,000 PEOPLE ATTENDED. | Description4Txt |
| Expenses4 | $0 | Expenses4Amt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| All Other Program Rltd Invst Tot | $0 | AllOtherProgramRltdInvstTotAmt |
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $17,309 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $17,309 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $17,309 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $260 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $17,049 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $852 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sect4942j3j5 Fndtn And Frgn Org | Yes (X) | Sect4942j3j5FndtnAndFrgnOrgInd |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $33,307 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $33,307 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $0 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $33,307 | AdjustedQualifyingDistriAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Fndtn Ruling | 2003-07-01 | PrivateOperatingFndtnRulingDt |
| Section4942j3 | Yes (X) | Section4942j3Ind |
Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Year1 | $0 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $0 | TotalAmt |
Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Year1 | $0 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $0 | TotalAmt |
Qualifying Distributions QualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $33,307 | CurrentYearAmt |
| Year1 | $34,058 | Year1Amt |
| Year2 | $63,232 | Year2Amt |
| Year3 | $73,892 | Year3Amt |
| Total | $204,489 | TotalAmt |
Qualifying Distri Not Used Drt QualifyingDistriNotUsedDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Year1 | $0 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $0 | TotalAmt |
Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $33,307 | CurrentYearAmt |
| Year1 | $34,058 | Year1Amt |
| Year2 | $63,232 | Year2Amt |
| Year3 | $73,892 | Year3Amt |
| Total | $204,489 | TotalAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,225,329 | CurrentYearAmt |
| Year1 | $1,251,790 | Year1Amt |
| Year2 | $1,296,105 | Year2Amt |
| Year3 | $1,329,332 | Year3Amt |
| Total | $5,102,556 | TotalAmt |
Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,176,087 | CurrentYearAmt |
| Year1 | $1,230,878 | Year1Amt |
| Year2 | $1,285,669 | Year2Amt |
| Year3 | $1,263,762 | Year3Amt |
| Total | $4,956,396 | TotalAmt |
Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $568 | CurrentYearAmt |
| Year1 | $486 | Year1Amt |
| Year2 | $1,531 | Year2Amt |
| Year3 | $5,125 | Year3Amt |
| Total | $7,710 | TotalAmt |
Total Support TotalSupportGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Public Support Type PublicSupportType
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Largest Support From EO LargestSupportFromEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Gross Investment Income GrossInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | DANIEL J SULLIVAN III | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
| Total Grant Or Contri Pd Dur Yr | $0 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | -$695 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | -$694 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | -$694 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | 0 | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | 0 | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | 0 | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | 0 | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | 0 | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | 0 | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | 0 | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | 0 | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | 0 | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | 0 | RelationshipsNonchrtblEOInd |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp (2 entries)
| ContributorContributorNum | Address Line1ContributorUSAddress/AddressLine1Txt | CityContributorUSAddress/CityNm | State AbbreviationContributorUSAddress/StateAbbreviationCd | ZIPContributorUSAddress/ZIPCd | Total ContributionsTotalContributionsAmt | Noncash ContributionNoncashContributionInd |
|---|---|---|---|---|---|---|
| DANIEL J SULLIVAN III | ||||||
| 1 | 1245 OAKVIEW ROAD | MEDINA | MN | 55356 | $13,033 | Yes (X) |
| DANIEL J SULLIVAN III | ||||||
| 2 | 1245 OAKVIEW ROAD | MEDINA | MN | 55356 | $20,286 | Yes (X) |
Non Cash Property Contribution NonCashPropertyContributionGrp (2 entries)
| ContributorContributorNum | Noncash PropertyNoncashPropertyDesc | Fair Market ValueFairMarketValueAmt | ReceivedReceivedDt |
|---|---|---|---|
| 1 | 11 SHARES AUTOZONE | $13,033 | 2020-12-16 |
| 2 | 1000 SHARES RAFAEL HLDGS INC | $20,286 | 2020-11-18 |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ACCOUNTING EXPENSES | CategoryTxt |
| Amt | $5,300 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $5,300 | DisbursementsCharitablePrpsAmt |
All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch
All Other Program Related Invst AllOtherProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NONE | Desc |
| Amt | $0 | Amt |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp (11 entries)
| PropertyPropertyDesc | AcquiredAcquiredDt | Cost Or Other BasisCostOrOtherBasisAmt | Prior Year DepreciationPriorYearDepreciationAmt | Computation MethodComputationMethodTxt | LifeLifeRt | Current Year ExpenseCurrentYearExpenseAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt |
|---|---|---|---|---|---|---|---|---|
| L-29 JET | 2001-12-05 | $90,000 | $85,500 | SL | 20.000000000000 | $4,500 | $0 | $4,500 |
| L-39 JET | 2001-12-05 | $650,000 | $365,500 | SL | 20.000000000000 | $32,500 | $0 | $32,500 |
| MIG-17 JET | 2001-12-05 | $150,000 | $114,500 | SL | 20.000000000000 | $7,500 | $0 | $7,500 |
| PARTS EJECTION | 2012-07-18 | $34,259 | $17,129 | 200DB | 5.000000000000 | $0 | $0 | $0 |
| TRAILER | 2013-12-09 | $1,572 | $786 | 200DB | 5.000000000000 | $0 | $0 | $0 |
| PARACHUTE | 2015-08-04 | $3,234 | $1,256 | 200DB | 7.000000000000 | $144 | $0 | $462 |
| PARACHUTE | 2015-09-16 | $3,297 | $1,280 | 200DB | 7.000000000000 | $147 | $0 | $471 |
| JET REPAIRS | 2017-07-19 | $50,000 | $6,042 | SL | 20.000000000000 | $2,500 | $0 | $2,500 |
| JET REPAIRS | 2017-08-11 | $70,000 | $8,458 | SL | 20.000000000000 | $3,500 | $0 | $3,500 |
| JET CAPITALIZED MAINT | 2017-01-01 | $40,000 | $6,000 | SL | 20.000000000000 | $2,000 | $0 | $2,000 |
| JET CAP MAINT | 2017-06-01 | $40,000 | $5,167 | SL | 20.000000000000 | $2,000 | $0 | $2,000 |
Land Etc Schedule2 LandEtcSchedule2
Land Etc LandEtcGrp (11 entries)
| Category Or ItemCategoryOrItemTxt | Cost Or Other BasisCostOrOtherBasisAmt | Accumulated DepreciationAccumulatedDepreciationAmt | Book ValueBookValueAmt |
|---|---|---|---|
| L-29 JET | $90,000 | $90,000 | $0 |
| L-39 JET | $650,000 | $398,000 | $252,000 |
| MIG-17 JET | $150,000 | $122,000 | $28,000 |
| PARTS EJECTION | $34,259 | $34,259 | $0 |
| TRAILER | $1,572 | $1,572 | $0 |
| PARACHUTE | $3,234 | $3,017 | $217 |
| PARACHUTE | $3,297 | $3,076 | $221 |
| JET REPAIRS | $50,000 | $8,542 | $41,458 |
| JET REPAIRS | $70,000 | $11,958 | $58,042 |
| JET CAPITALIZED MAINT | $40,000 | $8,000 | $32,000 |
| JET CAP MAINT | $40,000 | $7,167 | $32,833 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (7 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| MN REGISTRATION | $90 | $0 | $0 | $90 |
| SUPPLIES/OXYGEN | $2,192 | $0 | $0 | $2,192 |
| MAINTENANCE | $774 | $0 | $0 | $774 |
| JET FUEL | $3,228 | $0 | $0 | $3,228 |
| MISCELLANEOUS | $1,880 | $0 | $0 | $1,880 |
| AIR SHOW | $19,703 | $0 | $0 | $19,703 |
| BANK FEES | $140 | $0 | $0 | $140 |