BETA

HAROLD AND PATRICIA KORELL FOUNDATION: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
HAROLD AND PATRICIA KORELL FOUNDATION (EIN 27-1507283)
Tax period
2019-01-01 to 2019-12-31
Filed
2020-03-02
IRS object ID
202010629349100011
Schema version
2019v5.0
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)
Return2020-03-02T14:11:27-08:00ReturnTs
Tax Period End2019-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Roger Goddard CPA PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13100 Timmons Lane Suite 440AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77027ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2019-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN271507283EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Harold and Patricia Korell FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlHAROBusinessNameControlTxt
Phone7135222293PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Pkwy Unit 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHarold M KorellPersonNm
Person TitlePresidentPersonTitleTxt
Phone7135222293PhoneNum
Signature2020-02-18SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRoger D GoddardPreparerPersonNm
PTINP01219221PTIN
Phone7136225088PhoneNum
Preparation2020-03-02PreparationDt
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$411,410FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$586InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$586InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss$0GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss$0OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$586TotalRevAndExpnssAmt
Total Net Invst Incm$586TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$0LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss$0AccountingFeesRevAndExpnssAmt
Other Prof Fees Rev And Expnss$0OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$5,411TaxesRevAndExpnssAmt
Deprec And Dpltn Rev And Expnss$0DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$0OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,411TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$51,993ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$51,993ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$57,404TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$51,993TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$56,818ExcessRevenueOverExpensesAmt
Net Investment Income$586NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$245,588SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$188,770SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$188,770SavAndTempCashInvstEOYFMVAmt
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY$0OtherNtsAndLoansRcvblEOYAmt
Corporate Stock BOY$4,638,640CorporateStockBOYAmt
Corporate Stock EOY$4,638,640CorporateStockEOYAmt
Corporate Stock EOYFMV$222,640CorporateStockEOYFMVAmt
Land Bldg Investments EOY$0LandBldgInvestmentsEOYAmt
Other Investments EOY$0OtherInvestmentsEOYAmt
Land EOY$0LandEOYAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$0OtherAssetsEOYAmt
Other Assets EOYFMV$0OtherAssetsEOYFMVAmt
Total Assets BOY$4,884,228TotalAssetsBOYAmt
Total Assets EOY$4,827,410TotalAssetsEOYAmt
Total Assets EOYFMV$411,410TotalAssetsEOYFMVAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY$0MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY$0OtherLiabilitiesBOYAmt
Other Liabilities EOY$0OtherLiabilitiesEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$4,884,228RetainedEarningBOYAmt
Retained Earning EOY$4,827,410RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$4,884,228TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,827,410TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,884,228TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,827,410TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,884,228TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$56,818ExcessRevenueOverExpensesAmt
Subtotal$4,827,410SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,827,410TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$2,000AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$678,033NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.002950DistributionYr1Rt
Adjusted Qlfy Distri Yr2$0AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$857,533NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.000000DistributionYr2Rt
Adjusted Qlfy Distri Yr3$0AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,227,778NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.000000DistributionYr3Rt
Adjusted Qlfy Distri Yr4$203,716AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$2,222,459NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.091662DistributionYr4Rt
Adjusted Qlfy Distri Yr5$225,000AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$4,779,796NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.047073DistributionYr5Rt
Total Distribution0.141685TotalDistributionRt
Average Distribution0.028337AverageDistributionRt
Net Vl Noncharitable Assets$503,929NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$14,280AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$6NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$14,286AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$51,993QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$6InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$6SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$6TaxBasedOnInvestmentIncomeAmt
Original Return Tax Paid$0OriginalReturnTaxPaidAmt
Tax Due$6TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 StateTXOrgReportOrRegisterStateCd
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
Individual With BooksHarold KorellIndividualWithBooksNm
Phone7135222293PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Parkway 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd
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

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Harold M Korell
3333 Allen Parkway 2708HoustonTX77019P/Director1.00$0$0$0
Patricia Korell
3333 Allen Parkway 2708HoustonTX77019Sec/Director1.00$0$0$0
Roger D Goddard
3100 Timmons Lane 440HoustonTX77027Tre/Director0.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$279,718AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$231,885AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$511,603TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$511,603AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$7,674CashDeemedCharitableAmt
Net Vl Noncharitable Assets$503,929NetVlNoncharitableAssetsAmt
Minimum Investment Return$25,196MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$25,196MinimumInvestmentReturnAmt
Tax Based On Investment Income$6TaxBasedOnInvestmentIncomeAmt
Total Tax$6TotalTaxAmt
Distributable Before Adj$25,190DistributableBeforeAdjAmt
Distributable Before Ded$25,190DistributableBeforeDedAmt
Distributable As Adjusted$25,190DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$51,993ExpensesAndContributionsAmt
Qualifying Distributions$51,993QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$6PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$51,987AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$25,190DistributableAsAdjustedAmt
Undistributed Income PY$33,893UndistributedIncomePYAmt
Prior Year12017PriorYear1Yr
Total For Prior Years$18,007TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$0ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$0ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$0ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$0ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$51,993QualifyingDistributionsAmt
Applied To Year1$33,893AppliedToYear1Amt
Applied To Prior Years$18,007AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$93AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$25,097UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Year4$0ExcessFromYear4Amt
Excess From Year3$0ExcessFromYear3Amt
Excess From Year2$0ExcessFromYear2Amt
Excess From Year1$0ExcessFromYear1Amt
Excess From Current Year$0ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerHarold M Korell and Patricia KorellContributingManagerNm
Contributing Managertraded securities with a market valContributingManagerNm
Contributing ManagerHarold M Korell and Patricia KorellContributingManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonHarold KorellRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Parkway 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd
FieldValueIRS element (for citing)
Recipient Phone7135222293RecipientPhoneNum
Form And Info And MaterialsWritten request including brochure on organizationFormAndInfoAndMaterialsTxt
Submission DeadlinesNoneSubmissionDeadlinesTxt
Restrictions On AwardsNoneRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Colorado School of Mines
PO Box 4005GoldenCO804024005N.A.Education institution$38,493
University of Washington Foundation
4333 Brooklyn Ave NESeattleWA98105N.A.Education institution$7,500
San Juan Community Theatre
100 2nd St NFriday HarborWA98250N.A.Support for general fund ofcommunity theatre$6,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$51,993TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$586ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$586ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$586TotalIncomeProducingActyAmt

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

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

FieldValueIRS element (for citing)
Form And Line ReferenceTreasury Regulation 53-4942(a)-(3)(d)(2) electionFormAndLineReferenceDesc
Medium ExplanationTaxpayer elects under Treasury Regulation 53-4942(a)-(3)(d)(2) to applyTaxpayer elects under Treasury Regulation 53-4942(a)-(3)(d)(2) to applyTaxpayer elects under Treasury Regulation 53-4942(a)-(3)(d)(2) to applyTaxpayer elects under Treasury Regulation 53-4942(a)-(3)(d)(2) to applyMediumExplanationTxt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSouthwestern Energy Co. - 92,000 shares (value at time of receiptStockNm
EOY Book Value$4,638,640EOYBookValueAmt
EOYFMV$222,640EOYFMVAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFederal income taxCategoryTxt
Amt$5,411Amt

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