BETA

JG FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
JG FOUNDATION (EIN 95-4693758)
Tax period
2024-06-01 to 2025-05-31
Filed
2025-08-27
IRS object ID
202542399349100929
Schema version
2024v5.2
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)
Return2025-08-27T18:26:48-05:00ReturnTs
Tax Period End2025-05-31TaxPeriodEndDt
Disaster ReliefDR-4856-CADisasterReliefTxt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1HOLTHOUSE CARLIN & VAN TRIGT LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line111444 w OLYMPIC BLVD 11TH FLRAddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90064ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-06-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN954693758EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1JG FOUNDATIONBusinessNameLine1Txt
Business Name Line2C/O JAMES GIPSONBusinessNameLine2Txt
FieldValueIRS element (for citing)
In Care Of% MICHAEL KROMMInCareOfNm
Business Name ControlJGFOBusinessNameControlTxt
Phone2136838790PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line19663 SANTA MONICA BLVD Suite 690AddressLine1Txt
CityBEVERLY HILLSCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90210ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMICHAEL KROMMPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone2136838790PhoneNum
Signature2025-10-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMICHAEL S DREYERPreparerPersonNm
PTINP00002084PTIN
Phone3105661900PhoneNum
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$7,285,505FMVAssetsEOYAmt
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$23,554InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$23,554InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$74,732DividendsRevAndExpnssAmt
Dividends Net Invst Incm$74,732DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$582,146NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$698,026GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$582,146CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$8,845OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$8,845OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$689,277TotalRevAndExpnssAmt
Total Net Invst Incm$689,277TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Accounting Fees Rev And Expnss$10,000AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$10,000AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$0AccountingFeesChrtblPrpsAmt
Tot Opr Expenses Rev And Expnss$10,000TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$10,000TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$30,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$30,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$40,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$10,000TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$30,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$649,277ExcessRevenueOverExpensesAmt
Net Investment Income$679,277NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$651,540SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,416,697SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,416,697SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$2,762,574CorporateStockBOYAmt
Corporate Stock EOY$2,646,694CorporateStockEOYAmt
Corporate Stock EOYFMV$5,868,808CorporateStockEOYFMVAmt
Total Assets BOY$3,414,114TotalAssetsBOYAmt
Total Assets EOY$4,063,391TotalAssetsEOYAmt
Total Assets EOYFMV$7,285,505TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$3,414,114RetainedEarningBOYAmt
Retained Earning EOY$4,063,391RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$3,414,114TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,063,391TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,414,114TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,063,391TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,414,114TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$649,277ExcessRevenueOverExpensesAmt
Subtotal$4,063,391SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,063,391TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property3020 SHS APPLE INCPropertyDesc
Gross Sales Price$698,026GrossSalesPriceAmt
Cost Or Other Basis$115,880CostOrOtherBasisAmt
Gain Or Loss$582,146GainOrLossAmt
Gains Minus Excess Or Losses$582,146GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$582,146CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$9,442InvestmentIncomeExciseTaxAmt
Subtotal$9,442SubtotalAmt
Tax Based On Investment Income$9,442TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$10,000EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$10,000TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$243EsPenaltyAmt
Overpayment$315OverpaymentAmt
Applied To ES Tax$315AppliedToESTaxAmt

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 StateCAOrgReportOrRegisterStateCd
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 Line1MICHAEL KROMMBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8057012059PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14210 NE 95TH CTAddressLine1Txt
CityKANSAS CITYCityNm
State AbbreviationMOStateAbbreviationCd
ZIP64156ZIPCd
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
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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
JAMES GIPSON
9663 SANTA MONICA BLVDBEVERLY HILLSCA90210PRESIDENT0.5$0$0$0
MICHAEL KROMM
4210 NE 95TH CTKANSAS CITYMO64156SECRETARY & CFO0.5$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$5,280,444AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,034,118AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,314,562TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$6,314,562AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$94,718CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,219,844NetVlNoncharitableAssetsAmt
Minimum Investment Return$310,992MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$310,992MinimumInvestmentReturnAmt
Tax Based On Investment Income$9,442TaxBasedOnInvestmentIncomeAmt
Total Tax$9,442TotalTaxAmt
Distributable Before Adj$301,550DistributableBeforeAdjAmt
Distributable Before Ded$301,550DistributableBeforeDedAmt
Distributable As Adjusted$301,550DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$30,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$30,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$301,550DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12022PriorYear1Yr
Prior Year22021PriorYear2Yr
Prior Year32020PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$2,876,184ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$2,220,495ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$1,073,791ExcessDistributionCyovYr3Amt
Total Excess Distribution Cyov$6,170,470TotalExcessDistributionCyovAmt
Qualifying Distributions$30,000QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$30,000AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$271,550ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$271,550ExcessDistributionCyovAppCYAmt
Total Corpus$5,898,920TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$2,604,634ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$3,294,286ExcessDistriCyovToNextYrAmt
Excess From Year4$2,220,495ExcessFromYear4Amt
Excess From Year3$1,073,791ExcessFromYear3Amt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1The Institute of Christ the King Sovereign PriestBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line16401 S WOODLAWN AVEAddressLine1Txt
CityCHICAGOCityNm
State AbbreviationILStateAbbreviationCd
ZIP60637ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeCHARITABLEGrantOrContributionPurposeTxt
Amt$30,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$30,000TotalGrantOrContriPdDurYrAmt

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$23,554ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$74,732ExclusionAmt
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 IncomeOtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$582,146ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescFEDERAL TAX REFUNDDesc
Exclusion$8,845ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$689,277ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$689,277TotalIncomeProducingActyAmt

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

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryHCVTCategoryTxt
Amt$10,000Amt
Net Investment Income$10,000NetInvestmentIncomeAmt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
12,500 GE AEROSPACE$1,406,157$3,073,875
3,020 SHS APPLE INC$0
10000 SHS EXON MOBILE CORP.$418,175$1,023,000
4166 SHS GE HEALTHCARE TECH$465,092$293,870
3125 GE VERNOVA IC$357,270$1,478,063

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX REFUNDDesc
Revenue And Expenses Per Books$8,845RevenueAndExpensesPerBooksAmt
Net Investment Income$8,845NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryCA FTB TAXCategoryTxt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.