HOBBS CHARITABLE FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
HOBBS CHARITABLE FOUNDATION (EIN 45-4067573)
Tax period
2018-10-01 to 2019-09-30
Filed
2020-08-17
IRS object ID
202042309349100404
Schema version
2018v3.1
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)
Return2020-08-17T06:35:51-07:00ReturnTs
Tax Period End2019-09-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN811010213PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LICHT & ANDREWS LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13033 Riviera Dr Suite 106AddressLine1Txt
CityNaplesCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34103ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-10-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN454067573EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Hobbs Charitable FoundationBusinessNameLine1Txt
Business Name Line2UA DTD 12162011BusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlHOBBBusinessNameControlTxt
Phone9418705592PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1720 N Collier Blvd Unit 501AddressLine1Txt
CityMarco IslandCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34145ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonAllen HobbsPersonNm
Person TitleTrusteePersonTitleTxt
Signature2020-08-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMichael A LichtPreparerPersonNm
PTINP00275534PTIN
Phone2392624513PhoneNum
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,171,630FMVAssetsEOYAmt
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$231InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$231InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$231InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$6,300DividendsRevAndExpnssAmt
Dividends Net Invst Incm$6,300DividendsNetInvstIncmAmt
Dividends Adj Net Incm$6,300DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$75,044NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$125,938GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$75,044CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$81,575TotalRevAndExpnssAmt
Total Net Invst Incm$81,575TotalNetInvstIncmAmt
Total Adj Net Incm$6,531TotalAdjNetIncmAmt
Taxes Rev And Expnss$4,467TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$4,467TaxesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$4,467TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$4,467TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$53,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$53,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$57,967TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$57,967TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$23,608ExcessRevenueOverExpensesAmt
Net Investment Income$81,575NetInvestmentIncomeAmt
Adjusted Net Income$6,531AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$10,468SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$84,970SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$84,970SavAndTempCashInvstEOYFMVAmt
Pledges Rcvbl$100PledgesRcvblAmt
Pledges Rcvbl BOY$100PledgesRcvblBOYAmt
Pledges Rcvbl EOY$100PledgesRcvblEOYAmt
Pledges Rcvbl EOYFMV$100PledgesRcvblEOYFMVAmt
Corporate Stock BOY$451,950CorporateStockBOYAmt
Corporate Stock EOY$580,050CorporateStockEOYAmt
Corporate Stock EOYFMV$2,863,680CorporateStockEOYFMVAmt
Other Investments BOY$443,700OtherInvestmentsBOYAmt
Other Investments EOY$365,400OtherInvestmentsEOYAmt
Other Investments EOYFMV$222,880OtherInvestmentsEOYFMVAmt
Total Assets BOY$906,218TotalAssetsBOYAmt
Total Assets EOY$1,030,520TotalAssetsEOYAmt
Total Assets EOYFMV$3,171,630TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Capital Stock BOY$1,739,100CapitalStockBOYAmt
Capital Stock EOY$1,739,100CapitalStockEOYAmt
Retained Earning BOY-$832,882RetainedEarningBOYAmt
Retained Earning EOY-$708,580RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$906,218TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,030,520TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$906,218TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,030,520TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$906,218TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$23,608ExcessRevenueOverExpensesAmt
Other Increases$146,400OtherIncreasesAmt
Subtotal$1,076,226SubtotalAmt
Other Decreases$45,706OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$1,030,520TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
3,000 Shrs ISHARES Silver TrustP2009-05-202018-11-05$41,224$42,240-$1,016-$1,016
1,000 Shrs Paypal HoldingsP2008-11-062018-11-29$84,714$8,654$76,060$76,060
FieldValueIRS element (for citing)
Capital Gain Net Income$75,044CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$93,703AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$2,671,742NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.03507DistributionYr1Rt
Adjusted Qlfy Distri Yr2$249,269AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$2,081,756NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.11974DistributionYr2Rt
Adjusted Qlfy Distri Yr3$70,865AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,841,375NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.03849DistributionYr3Rt
Adjusted Qlfy Distri Yr4$102,916AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,785,395NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.05764DistributionYr4Rt
Adjusted Qlfy Distri Yr5$46,451AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$1,843,036NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.02520DistributionYr5Rt
Total Distribution0.276144TotalDistributionRt
Average Distribution0.055229AverageDistributionRt
Net Vl Noncharitable Assets$2,998,483NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$165,603AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$816NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$166,419AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$57,967QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,632InvestmentIncomeExciseTaxAmt
Subtotal$1,632SubtotalAmt
Tax Based On Investment Income$1,632TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$4,799EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$4,799TotalPaymentsAndCreditsAmt
Overpayment$3,167OverpaymentAmt
Applied To ES Tax$3,167AppliedToESTaxAmt

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
Form990 T FiledfalseForm990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateFLOrgReportOrRegisterStateCd
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

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Allan Hamm HobbsBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9418705592PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1720 N Collier Blvd Unit 501AddressLine1Txt
CityMarco IslandCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34145ZIPCd
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
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsfalseMaintainedExpenditureRspnsInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Allen Hamm Hobbs
720 N Collier Blvd Unit 501Marco IslandFL34145Trustee2.00$0
Deborah Hobbs
720 N Collier Blvd Unit 501Marco IslandFL34145Trustee2.00$0
Allen Hobbs Jr
11 Savannah CourtBethesdaMD20817Trustee2.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$2,959,260AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$84,885AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,044,145TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$3,044,145AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$45,662CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,998,483NetVlNoncharitableAssetsAmt
Minimum Investment Return$149,924MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$149,924MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,632TaxBasedOnInvestmentIncomeAmt
Total Tax$1,632TotalTaxAmt
Distributable Before Adj$148,292DistributableBeforeAdjAmt
Distributable Before Ded$148,292DistributableBeforeDedAmt
Distributable As Adjusted$148,292DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$57,967ExpensesAndContributionsAmt
Qualifying Distributions$57,967QualifyingDistributionsAmt
Adjusted Qualifying Distri$57,967AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$148,292DistributableAsAdjustedAmt
Excess Distribution Cyov Yr2$81,388ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$81,388TotalExcessDistributionCyovAmt
Qualifying Distributions$57,967QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$57,967AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$81,388ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$81,388ExcessDistributionCyovAppCYAmt
Undistributed Income CY$8,937UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerAllen Hamm HobbsContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (9 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Landon High School
6101 Wilson LaneBethesdaMD20817NonePCEducation Advancement$10,000
National Lutheran Home Village
2301 Research BlvdRockvilleMD20850NonePCElderly Support$5,000
Marco Island Academy
1450 Winterberry DrMarco IslandFL34145NonePCEducation Advancement$10,000
Red Cross
2610 North Brooke Plaza DrNaplesFL34119NonePCDisaster Relief$5,000
Rensselaer Polytechnic Institute
PO Box 3164BostonMA02241NonePCEducation Advancement$10,000
Catholic Charities
4848 Cordell AveBethesdaMD20814NonePCServe the poor and needy$5,000
Wounded Warriors
4899 Belfort Rd Ste 300JacksonvilleFL32256NonePCWounded Warriors Support$5,000
Fairfield University
1073 North Benson RoadFairfieldCT06824NonePCEducation Advancement$1,500
American Cancer Society
583 Tallwood Court Ste 101Marco IslandFL34145PCCancer Research$2,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$53,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion3ExclusionCd
Exclusion$231ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion3ExclusionCd
Exclusion$6,300ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion3ExclusionCd
Exclusion$75,044ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$81,575ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$81,575TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
15,000 Shares of Ebay, Inc.$177,497$584,700
22,000 Shares of Paypal Holdings Inc.$402,553$2,278,980

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

FieldValueIRS element (for citing)
Category Or Item14,000 IShares Silver Trust Index FundCategoryOrItemTxt
Listed At Cost Or FMVAT COSTListedAtCostOrFMVCd
Book Value$365,400BookValueAmt
EOYFMV$222,880EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescUnrealized LossDesc
Amt$45,706Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFederal Income TaxesCategoryTxt
Amt$4,467Amt
Disbursements Charitable Prps$4,467DisbursementsCharitablePrpsAmt

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