DIAMONDS DIRECT FOUNDATION: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
DIAMONDS DIRECT FOUNDATION (EIN 20-1313356)
Tax period
2019-01-01 to 2019-12-31
Filed
2020-11-11
IRS object ID
202043169349102339
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)
Return2020-11-11T20:30:32-06:00ReturnTs
Tax Period End2019-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BDO USA LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1615 South College St Suite 1200AddressLine1Txt
CityCharlotteCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28202ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2019-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN201313356EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Diamonds Direct FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% KELLY LOInCareOfNm
Business Name ControlDIAMBusinessNameControlTxt
Phone7045329041PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14521 Sharon Road Suite 101AddressLine1Txt
CityCharlotteCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28211ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonITAY BERGERPersonNm
Person TitleVice PresidentPersonTitleTxt
Phone7045329041PhoneNum
Signature2020-11-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKristi PindellPreparerPersonNm
PTINP00547697PTIN
Phone7048874236PhoneNum
Preparation2020-11-11PreparationDt
Self EmployedYes (X)SelfEmployedInd

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address76.232.11.68IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id56906020203165000003FederalOriginalSubmissionId
Federal Original Submission Id2020-11-11FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id33E8FED721BF910DA9CBA133DEB53502C2039E00AtSubmissionCreationDeviceId
At Submission Filing Device Id33E8FED721BF910DA9CBA133DEB53502C2039E00AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2021-04-22 16:20:28ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$10,365FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$68,420ContriRcvdRevAndExpnssAmt
Total Rev And Expnss$68,420TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$68,420ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$68,420ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$68,420TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$68,420TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$0ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$10,365CashBOYAmt
Cash EOY$10,365CashEOYAmt
Cash EOYFMV$10,365CashEOYFMVAmt
Total Assets BOY$10,365TotalAssetsBOYAmt
Total Assets EOY$10,365TotalAssetsEOYAmt
Total Assets EOYFMV$10,365TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$10,365RetainedEarningBOYAmt
Retained Earning EOY$10,365RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$10,365TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$10,365TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$10,365TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$10,365TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$10,365TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$0ExcessRevenueOverExpensesAmt
Subtotal$10,365SubtotalAmt
Tot Net Ast Or Fund Balances EOY$10,365TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$93,200AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$10,210NetVlNoncharitableAssetsYr1Amt
Distribution Yr19.128306DistributionYr1Rt
Adjusted Qlfy Distri Yr2$98,400AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$5,728NetVlNoncharitableAssetsYr2Amt
Distribution Yr217.178771DistributionYr2Rt
Adjusted Qlfy Distri Yr3$75,500AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$820NetVlNoncharitableAssetsYr3Amt
Distribution Yr392.073171DistributionYr3Rt
Adjusted Qlfy Distri Yr4$76,600AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$295NetVlNoncharitableAssetsYr4Amt
Distribution Yr4259.661017DistributionYr4Rt
Adjusted Qlfy Distri Yr5$66,150AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$295NetVlNoncharitableAssetsYr5Amt
Distribution Yr5224.237288DistributionYr5Rt
Total Distribution602.278553TotalDistributionRt
Average Distribution120.455711AverageDistributionRt
Net Vl Noncharitable Assets$10,210NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$1,229,853AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$0NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$1,229,853AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$68,420QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$0TaxDueAmt

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 StateNCOrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen0Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNoneWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1KELLY LOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7045329041PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14521 SHARON ROAD STE 101AddressLine1Txt
CityCHARLOTTECityNm
State AbbreviationNCStateAbbreviationCd
ZIP28211ZIPCd
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
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
Alon Arabov
4521 Sharon Road Suite 101CharlotteNC28211President/Director0.1$0$0$0
Itay Berger
4521 Sharon Road Suite 101CharlotteNC28211VP/Sec/Tre/Director0.25$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1TO PROVIDE SUPPORT TO LOCAL NONPROFIT ORGANIZATIONS, WITH SPECIAL EMPHASIS ON WOMEN'S AND CHILDREN'S PHILANTHROPIES.Description1Txt
Expenses1$0Expenses1Amt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$10,365AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$10,365TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$10,365AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$155CashDeemedCharitableAmt
Net Vl Noncharitable Assets$10,210NetVlNoncharitableAssetsAmt
Minimum Investment Return$511MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$68,420ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$68,420QualifyingDistributionsAmt
Adjusted Qualifying Distri$68,420AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12017PriorYear1Yr
Prior Year22016PriorYear2Yr
Prior Year32015PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$68,420QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$68,420AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Year1$0Year1Amt
Year2$0Year2Amt
Year3$0Year3Amt
Total$0TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Year1$0Year1Amt
Year2$0Year2Amt
Year3$0Year3Amt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$68,420CurrentYearAmt
Year1$93,200Year1Amt
Year2$98,400Year2Amt
Year3$75,500Year3Amt
Total$335,520TotalAmt
FieldValueIRS element (for citing)
Qualifying Distri Not Used DrtQualifyingDistriNotUsedDrtGrp

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$68,420CurrentYearAmt
Year1$93,200Year1Amt
Year2$98,400Year2Amt
Year3$75,500Year3Amt
Total$335,520TotalAmt
FieldValueIRS element (for citing)
Total AssetsTotalAssetsGrp

Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$341CurrentYearAmt
Year1$341Year1Amt
Year2$191Year2Amt
Year3$27Year3Amt
Total$900TotalAmt

Total Support TotalSupportGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Public Support Type PublicSupportType

FieldValueIRS element (for citing)
Total$0TotalAmt

Largest Support From EO LargestSupportFromEOGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Gross Investment Income GrossInvestmentIncomeGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Lubavitch
6619 Sardis RoadCharlotteNC28270PCEducation$63,420
United Way of South Hampton Roads
2515 Walmer AvenueNorfolkVA23513PCEducation$5,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$68,420TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp
Div And Int From Sec Part VIIDivAndIntFromSecPartVIIGrp
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 InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp
Subtotals Incm Producing ActySubtotalsIncmProducingActyGrp

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonDiamonds Direct USA IncContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line14521 Sharon Road Ste 101AddressLine1Txt
CityCharlotteCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28211ZIPCd
FieldValueIRS element (for citing)
Total Contributions$68,420TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Comments

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