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TOWNSEND FAMILY FOUNDATION: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
TOWNSEND FAMILY FOUNDATION (EIN 81-4749431)
Tax period
2019-01-01 to 2019-12-31
Filed
2020-05-14
IRS object ID
202021359349101852
Schema version
2019v5.1
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)
Return2020-05-14T15:55:37-05:00ReturnTs
Tax Period End2019-12-31TaxPeriodEndDt

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 Begin2019-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN814749431EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Townsend Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlTOWNBusinessNameControlTxt
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)
PersonSHANNON TOWNSENDPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2020-04-21SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
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$267,103FMVAssetsEOYAmt
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$46InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$46InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$6,566DividendsRevAndExpnssAmt
Dividends Net Invst Incm$6,566DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$141NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$69,029GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$141CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$6,753TotalRevAndExpnssAmt
Total Net Invst Incm$6,753TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$2,374OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$2,374OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$55TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$5,778OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,778OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$8,207TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$2,374TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,778TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$3,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$3,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$11,207TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$2,374TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$8,778TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$4,454ExcessRevenueOverExpensesAmt
Net Investment Income$4,379NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$13,818SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$4,274SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$4,274SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$223,948CorporateStockBOYAmt
Corporate Stock EOY$229,038CorporateStockEOYAmt
Corporate Stock EOYFMV$262,829CorporateStockEOYFMVAmt
Total Assets BOY$237,766TotalAssetsBOYAmt
Total Assets EOY$233,312TotalAssetsEOYAmt
Total Assets EOYFMV$267,103TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$237,766RetainedEarningBOYAmt
Retained Earning EOY$233,312RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$237,766TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$233,312TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$237,766TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$233,312TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$237,766TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$4,454ExcessRevenueOverExpensesAmt
Subtotal$233,312SubtotalAmt
Tot Net Ast Or Fund Balances EOY$233,312TotNetAstOrFundBalancesEOYAmt

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$69,029GrossSalesPriceAmt
Cost Or Other Basis$68,888CostOrOtherBasisAmt
Gain Or Loss$141GainOrLossAmt
Gains Minus Excess Or Losses$141GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$141CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$9,510AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$251,148NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.037866DistributionYr1Rt
Adjusted Qlfy Distri Yr2$15,513AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$252,875NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.061347DistributionYr2Rt
Net Vl Noncharitable Assets Yr3$123,137NetVlNoncharitableAssetsYr3Amt
Adjusted Qlfy Distri Yr4$0AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$0NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.0DistributionYr4Rt
Adjusted Qlfy Distri Yr5$0AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$0NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.0DistributionYr5Rt
Total Distribution0.099213TotalDistributionRt
Average Distribution0.033071AverageDistributionRt
Net Vl Noncharitable Assets$252,803NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$8,360AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$44NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$8,404AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$8,778QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$44InvestmentIncomeExciseTaxAmt
Subtotal$44SubtotalAmt
Tax Based On Investment Income$44TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$44TaxDueAmt

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 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
Shannon S Townsend
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Pres, Treas1.0$0$0$0
William Townsend
Foundation Source 501 Silverside RdWilmingtonDE198091377Dir, Sec, VP1.0$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$247,229AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$9,424AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$256,653TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$256,653AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$3,850CashDeemedCharitableAmt
Net Vl Noncharitable Assets$252,803NetVlNoncharitableAssetsAmt
Minimum Investment Return$12,640MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$12,640MinimumInvestmentReturnAmt
Tax Based On Investment Income$44TaxBasedOnInvestmentIncomeAmt
Total Tax$44TotalTaxAmt
Distributable Before Adj$12,596DistributableBeforeAdjAmt
Distributable Before Ded$12,596DistributableBeforeDedAmt
Distributable As Adjusted$12,596DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$8,778ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$8,778QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$44PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$8,734AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$12,596DistributableAsAdjustedAmt
Undistributed Income PY$120UndistributedIncomePYAmt
Prior Year12017PriorYear1Yr
Prior Year22016PriorYear2Yr
Prior Year32015PriorYear3Yr
Qualifying Distributions$8,778QualifyingDistributionsAmt
Applied To Year1$120AppliedToYear1Amt
Applied To Current Year$8,658AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$3,938UndistributedIncomeCYAmt
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 ManagerShannon S TownsendContributingManagerNm
Contributing ManagerWilliam TownsendContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1CAPE HENRY COLLEGIATE SCHOOL INCBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line11320 MILL DAM RDAddressLine1Txt
CityVIRGINIA BCHCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23454ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeGeneral & UnrestrictedGrantOrContributionPurposeTxt
Amt$3,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$3,000TotalGrantOrContriPdDurYrAmt

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$46ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$6,566ExclusionAmt
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$141ExclusionAmt
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$6,753ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$6,753TotalIncomeProducingActyAmt

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 (18 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
DFA EMERGING MARKETS CORE EQ P$7,555$8,834
DFA LARGE CAP INTERNATIONAL PO$21,868$24,583
DFA U.S. LARGE CAP VALUE PORTF$18,506$20,030
HENDERSON STRATEGIC INCOME FD$9,910$10,104
ISHARES RUSSELL MIDCAP G IN FD$5,932$6,256
ISHARES RUSSELL MIDCAP VALUE$6,916$8,055
ISHARES TRUST RUSSELL 1000 GRO$17,091$26,564
ISHARES TRUST RUSSELL MIDCAP I$7,292$9,539
JANUS HENDERSON MULTI SECTOR I$5,290$5,249
METROPOLITAN WEST RETURN BOND$14,956$15,419
PIMCO INCOME FUND$15,731$15,469
PIMCO INVESTMENT GRADE CORP BD$15,333$15,714
SEMPER MBS TOTAL RETURN FUND I$10,170$10,021
VANGUARD INTERMEDIATE TERM INV$15,025$15,476
VANGUARD S&P 500 ETF$33,288$44,073
VANGUARD SM-CAP ETF$6,627$7,951
VANGUARD TOTAL BOND MARKET IND$13,542$14,195
WISDOMTREE LC DVDND$4,006$5,297

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$5,753$5,753
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$2,374Amt
Net Investment Income$2,374NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Excise Tax for 2018CategoryTxt
Amt$55Amt

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