LIBERTY FOUNDATION INC: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: LIBERTY FOUNDATION INC (EIN 72-1249256)
Tax period: 2018-01-01 to 2018-12-31
Filed: 2019-11-12
IRS object ID: 201923169349301042
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
Form 990
Schedule A
Schedule I
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2019-11-12T08:43:14-06:00	ReturnTs
Tax Period End	2018-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	720877929	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	BRUNO & TERVALON LLP CPAS	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	4298 ELYSIAN FIELDS AVE	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70122	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2018-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	721249256	EIN

Business Name BusinessName

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

Field	Value	IRS element (for citing)
Business Name Control	LIBE	BusinessNameControlTxt
Phone	5042405264	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	P O BOX 60131	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	701600131	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	ALDEN J MCDONALD	PersonNm
Person Title	PRES/SEC'Y.	PersonTitleTxt
Phone	5042405167	PhoneNum
Signature	2019-11-08	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	WALDO J MORET JR	PreparerPersonNm
PTIN	P01239199	PTIN
Phone	5042848733	PhoneNum
Preparation	2019-11-08	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	98.172.42.138	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2019-11-12	IPDt
IP Tm	08:43:14	IPTm
IP Timezone	CS	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	F18ED24ED9506EDA7C105966AE009E4DC268BB16	AtSubmissionCreationDeviceId
At Submission Filing Device Id	41DC859E3B3E081B1B61F1EEA880D53B9325C3B8	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2020-04-17 16:48:07Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	ALDEN J MCDONALD	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	6600 PLAZA DR	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70126	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$1,234,149	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1993	FormationYr
Legal Domicile State	LA	LegalDomicileStateCd
Activity Or Mission	COMMUNITY IMPROVEMENT	ActivityOrMissionDesc
Voting Members Governing Body	3	VotingMembersGoverningBodyCnt
Voting Members Independent	3	VotingMembersIndependentCnt
Total Employee	0	TotalEmployeeCnt
Total Gross UBI	$0	TotalGrossUBIAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	$91,682	PYInvestmentIncomeAmt
CY Investment Income	$72,132	CYInvestmentIncomeAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$91,682	PYTotalRevenueAmt
CY Total Revenue	$72,132	CYTotalRevenueAmt
PY Grants And Similar Paid	$64,583	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$131,463	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid	$0	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$25,032	PYOtherExpensesAmt
CY Other Expenses	$18,816	CYOtherExpensesAmt
PY Total Expenses	$89,615	PYTotalExpensesAmt
CY Total Expenses	$150,279	CYTotalExpensesAmt
PY Revenues Less Expenses	$2,067	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$78,147	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,171,070	TotalAssetsBOYAmt
Total Assets EOY	$907,512	TotalAssetsEOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,171,070	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$907,512	NetAssetsOrFundBalancesEOYAmt
Mission	COMMUNITY IMPROVEMENT	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$150,279	ExpenseAmt
Grant	$131,463	GrantAmt
Desc	DONATIONS TO VARIOUS COMMUNITY SCHOOLS,ORGANIZATIONS AND INDIVIDUALS.	Desc
Total Program Service Expenses	$150,279	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	false	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Temp Or Permanent Endowments	false	TempOrPermanentEndowmentsInd
Report Land Building Equipment	false	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	false	ReportOtherLiabilitiesInd
Include FIN48 Footnote	false	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	false	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	Yes (true)	GrantsToOrganizationsInd
Grants To Individuals	Yes (true)	GrantsToIndividualsInd
Schedule J Required	false	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	false	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	false	ScheduleORequiredInd
IRP Document	0	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Employee	0	EmployeeCnt
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Governing Body Voting Members	3	GoverningBodyVotingMembersCnt
Independent Voting Member	3	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	false	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	false	ConflictOfInterestPolicyInd
Whistleblower Policy	false	WhistleblowerPolicyInd
Document Retention Policy	false	DocumentRetentionPolicyInd
Compensation Process CEO	false	CompensationProcessCEOInd
Compensation Process Other	false	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	TRAVIS MCDONALD	PersonNm
Phone	5042405102	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	6600 PLAZA DR	AddressLine1Txt
City	NEW ORLEANS	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70127	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxt	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
ALDEN J MCDONALD
PRES/SEC'Y.	Yes (X)	$0	$0	$0
RONALD BURNS
VICE-PRESIDE	Yes (X)	$0	$0	$0
LEROY WATTS
TREASURER	Yes (X)	$0	$0	$0

Field	Value	IRS element (for citing)
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	false	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$19,704	TotalRevenueColumnAmt
Exclusion	$19,704	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$1,214,445	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$1,162,017	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$52,428	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$52,428	TotalRevenueColumnAmt
Related Or Exempt Func Income	$52,428	RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$72,132	TotalRevenueColumnAmt
Related Or Exempt Func Income	$52,428	RelatedOrExemptFuncIncomeAmt
Exclusion	$19,704	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$113,963	TotalAmt
Program Services	$113,963	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$17,500	TotalAmt
Program Services	$17,500	ProgramServicesAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$18,816	TotalAmt
Program Services	$18,816	ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$150,279	TotalAmt
Program Services	$150,279	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$66,756	BOYAmt
EOY	$46,507	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$1,104,314	BOYAmt
EOY	$861,005	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,171,070	BOYAmt
EOY	$907,512	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,171,070	BOYAmt
EOY	$907,512	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,171,070	BOYAmt
EOY	$907,512	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,171,070	BOYAmt
EOY	$907,512	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	-$78,147	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$185,411	NetUnrlzdGainsLossesInvstAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	false	FSAuditedInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Public Organization170	Yes (X)	PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$6,048	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$39,761	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$10,000	CurrentTaxYearMinus2YearsAmt
Total	$55,809	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$6,048	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$39,761	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$10,000	CurrentTaxYearMinus2YearsAmt
Total	$55,809	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$7,405	SubstantialContributorsTotAmt
Public Support Total170	$48,404	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$16,287	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$89,094	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$23,353	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$20,379	CurrentTaxYearMinus1YearAmt
Current Tax Year	$19,704	CurrentTaxYearAmt
Total	$168,817	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$224,626	TotalSupportAmt
Public Support CY170	0.21550	PublicSupportCY170Pct
Public Support PY170	0.45990	PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests PY170	Yes (X)	ThirtyThrPctSuprtTestsPY170Ind

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	false	GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ORTIQUE LEADERSHIP INSTITUTE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Cash Grant	$113,963	CashGrantAmt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

Field	Value	IRS element (for citing)
Grant Type	SCHOLARSHIPS	GrantTypeTxt
Recipient	5	RecipientCnt
Cash Grant	$17,500	CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE I, PAGE 1, PART I, LINE 2	FormAndLineReferenceDesc
Explanation	THE LIBERTY FOUNDATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS IS TO MAKE ANNUAL SITE VISITS. THE GRANT RECIPIENT IS ALSO REQUIRED TO PRESENT QUARTERLY PERFORMANCE REPORTS.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11B	NO REVIEW WAS OR WILL BE CONDUCTED.
FORM 990, PAGE 6, PART VI, LINE 19	NO DOCUMENTS AVAILABLE TO THE PUBLIC

LIBERTY FOUNDATION INC: Form 990, tax year 2018

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Preparer Person PreparerPersonGrp

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Form 990 IRS990

US Address USAddress

Books In Care Of Detail BooksInCareOfDetail

US Address USAddress

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

Investment Income InvestmentIncomeGrp

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Gain Or Loss GainOrLossGrp

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Total Revenue TotalRevenueGrp

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Office Expenses OfficeExpensesGrp

Total Functional Expenses TotalFunctionalExpensesGrp

Cash Non Interest Bearing CashNonInterestBearingGrp

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Total Assets TotalAssetsGrp

Total Liabilities TotalLiabilitiesGrp

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Schedule A IRS990ScheduleA

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Total Calendar Year170 TotalCalendarYear170Grp

Gross Investment Income170 GrossInvestmentIncome170Grp

Schedule I IRS990ScheduleI

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

Supplemental Information Detail SupplementalInformationDetail

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Comments