AK FOUNDATION INC: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization: AK FOUNDATION INC (EIN 83-1146676)
Tax period: 2019-01-01 to 2019-12-31
Filed: 2020-04-21
IRS object ID: 202021129349100902
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
Form 990-PF
Accounting Fees Schedule
Investments Other Schedule2
Other Expenses Schedule
Other Income Schedule2
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2020-04-21T12:26:27-05:00	ReturnTs
Tax Period End	2019-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	455408593	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	ACCOUNTANTS RESOURCE LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	3348 PEACHTREE ROAD NE STE 150	AddressLine1Txt
City	ATLANTA	CityNm
State Abbreviation	GA	StateAbbreviationCd
ZIP	30326	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2019-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	831146676	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	AK FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	AKFO	BusinessNameControlTxt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2010 LEADENHALL STREET	AddressLine1Txt
City	JOHNS CREEK	CityNm
State Abbreviation	GA	StateAbbreviationCd
ZIP	30022	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	KAVITHA PALANI	PersonNm
Person Title	PRESIDENT/DIRECTOR	PersonTitleTxt
Phone	4042744413	PhoneNum
Signature	2020-04-20	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	ROBERT L WHITEHURST	PreparerPersonNm
PTIN	P01383986	PTIN
Phone	8882723683	PhoneNum
Preparation	2020-04-20	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	23.100.64.83	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2020-04-21	IPDt
IP Tm	12:26:27	IPTm
IP Timezone	CD	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	465177C94C2A87711399D9604253E178179F9D1B	AtSubmissionCreationDeviceId
At Submission Filing Device Id	8AF2D9E7D951ABB668548A662688165DBB9056FB	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2019	TaxYr
Build TS	2020-11-19 02:30:22Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$316,585	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$44,334	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$44,334	InterestOnSavNetInvstIncmAmt
Other Income Rev And Expnss	-$6,834	OtherIncomeRevAndExpnssAmt
Total Rev And Expnss	$37,500	TotalRevAndExpnssAmt
Total Net Invst Incm	$44,334	TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss	$1,250	AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss	$1,225	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$1,225	TaxesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss	$2,475	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$1,225	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$17,250	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$17,250	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$19,725	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$1,225	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$17,250	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$17,775	ExcessRevenueOverExpensesAmt
Net Investment Income	$43,109	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$48,810	CashBOYAmt
Cash EOY	$66,585	CashEOYAmt
Cash EOYFMV	$66,585	CashEOYFMVAmt
Other Investments BOY	$250,000	OtherInvestmentsBOYAmt
Other Investments EOY	$250,000	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$250,000	OtherInvestmentsEOYFMVAmt
Total Assets BOY	$298,810	TotalAssetsBOYAmt
Total Assets EOY	$316,585	TotalAssetsEOYAmt
Total Assets EOYFMV	$316,585	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY	$298,810	NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY	$316,585	NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY	$298,810	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$316,585	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$298,810	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$316,585	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$298,810	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$17,775	ExcessRevenueOverExpensesAmt
Subtotal	$316,585	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$316,585	TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Field	Value	IRS element (for citing)
Liable Section4942 Tax	false	LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1	$255,050	AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets	$303,083	NetVlNoncharitableAssetsAmt
Net Investment Income Pct	$431	NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct	$431	AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions	$267,250	QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Domestic Org Meeting Sect4940e	Yes (X)	DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax	$431	InvestmentIncomeExciseTaxAmt
Subtotal	$431	SubtotalAmt
Tax Based On Investment Income	$431	TaxBasedOnInvestmentIncomeAmt
Tax Due	$431	TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	KAVITHA PALANI	IndividualWithBooksNm
Phone	4042744413	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	2010 LEADENHALL STREET	AddressLine1Txt
City	JOHNS CREEK	CityNm
State Abbreviation	GA	StateAbbreviationCd
ZIP	30022	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
ARUL MURUGAN
2010 LEADENHALL STREET	JOHNS CREEK	GA	30022	TREASURER/DI	000.00	$0	$0	$0
KAVITHA PALANI
2010 LEADENHALL STREET	JOHNS CREEK	GA	30022	PRESIDENT/DI	000.00	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Field	Value	IRS element (for citing)
Description1	THE ORGANIZATION GRANTED FUNDS TO 7 DIFFERENT SECTION 501 (C)(3) ORGANIZATIONS THAT ASSIST CHILDREN IN POVERTY, HEALTHCARE, AND EDUCATION.	Description1Txt
Expenses1	$17,250	Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Description1	11-11 LEAP CREDIT	Description1Txt
Expenses1	$250,000	Expenses1Amt
Total	$250,000	TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$57,698	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$250,000	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$307,698	TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast	$307,698	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$4,615	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$303,083	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$15,154	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$15,154	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$431	TaxBasedOnInvestmentIncomeAmt
Total Tax	$431	TotalTaxAmt
Distributable Before Adj	$14,723	DistributableBeforeAdjAmt
Distributable Before Ded	$14,723	DistributableBeforeDedAmt
Distributable As Adjusted	$14,723	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$17,250	ExpensesAndContributionsAmt
Program Related Invst Total	$250,000	ProgramRelatedInvstTotalAmt
Qualifying Distributions	$267,250	QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm	$431	PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri	$266,819	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$14,723	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1	$255,050	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$255,050	TotalExcessDistributionCyovAmt
Qualifying Distributions	$267,250	QualifyingDistributionsAmt
Applied To Current Year	$14,723	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$252,527	RemainingDistriFromCorpusAmt
Total Corpus	$507,577	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$507,577	ExcessDistriCyovToNextYrAmt
Excess From Year1	$255,050	ExcessFromYear1Amt
Excess From Current Year	$252,527	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt	Address Line2RecipientUSAddress/AddressLine2Txt
HIMALAYAN CHILDREN CHARITIES
PO BOX 3837	ALPHARETTA	GA	30023	PROGRAM	$2,600
VIBHA
1030 E EL CAMINO REAL	SUNNYVALE	CA	94087	PROGRAM	$3,950	424
HEARTFULNESS INSTITUTE
6320 AYRES DR	AUSTIN	TX	78746	PROGRAM	$2,500
TAMIL NADU FOUNDATION
7409 GREEN HILL DR	MACUNGIE	PA	18062	PROGRAM	$1,000
ATLANTA INTERNATIONAL SCHOOL
2890 N FULTON DR	ATLANTA	GA	30305	PROGRAM	$1,500
GATS
6050 PEACHTREE PKWY	NORCROSS	GA	30092	PROGRAM	$5,000	240-253
ATLANTA MEDICAL CLINIC
1801 PEACHTREE RD NW	ATLANTA	GA	30309	PROGRAM	$700	250

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$17,250	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$44,334	ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

Field	Value	IRS element (for citing)
Desc	11-11 LEAP CREDIT	Desc
Business	900003	BusinessCd
Unrelated Business Taxbl Incm	-$6,834	UnrelatedBusinessTaxblIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	-$6,834	UnrelatedBusinessTaxblIncmAmt
Exclusion	$44,334	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$37,500	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	INDIRECT ACCOUNTING FEES	CategoryTxt
Amt	$1,250	Amt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

Field	Value	IRS element (for citing)
Category Or Item	11-11 LEAP CREDIT	CategoryOrItemTxt
Listed At Cost Or FMV	AT COST	ListedAtCostOrFMVCd
Book Value	$250,000	BookValueAmt
EOYFMV	$250,000	EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDesc
EXPENSES
BANK CHARGES

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

Field	Value	IRS element (for citing)
Desc	11-11 LEAP CREDIT	Desc
Revenue And Expenses Per Books	-$6,834	RevenueAndExpensesPerBooksAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt
ANNUAL STATE REGISTRATION FEES	$30	$30
EXEMPT APPLICATION FEE	$600	$600
TAX DUE	$595	$595

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