The Drake Foundation: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
The Drake Foundation (EIN 62-1684643)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-08-06
IRS object ID
201912189349100201
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)
Return2019-08-06T09:03:54-05:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN454110923PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DelBrocco & Associates PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14735 Spottswood Suite 201AddressLine1Txt
CityMemphisCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38117ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN621684643EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Drake FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlDRAKBusinessNameControlTxt
Phone9012215220PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1482 Halle Park Drive Suite 101AddressLine1Txt
CityColliervilleCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDarin DrakePersonNm
Person TitleSecretaryPersonTitleTxt
Phone9012211524PhoneNum
Signature2019-07-25SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonPeter F VoehringerPreparerPersonNm
PTINP00846402PTIN
Phone9016819272PhoneNum
Preparation2019-07-25PreparationDt
Self EmployedYes (X)SelfEmployedInd

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address216.37.73.30IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-07-25IPDt
IP Tm14:15:06IPTm
IP TimezoneCDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdDA39A3EE5E6B4B0D3255BFEF95601890AFD80709AtSubmissionCreationDeviceId
At Submission Filing Device Id6C9B1A35775087DBDB8A6D25ECA509C7F6C27838AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$234,248FMVAssetsEOYAmt
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$3,549InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$3,549InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$3,549TotalRevAndExpnssAmt
Total Net Invst Incm$3,549TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
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$116,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$116,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$116,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$116,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$112,451ExcessRevenueOverExpensesAmt
Net Investment Income$3,549NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY-$3CashEOYAmt
Cash EOYFMV-$3CashEOYFMVAmt
Sav And Temp Cash Invst BOY$346,699SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$234,251SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$234,251SavAndTempCashInvstEOYFMVAmt
Total Assets BOY$346,699TotalAssetsBOYAmt
Total Assets EOY$234,248TotalAssetsEOYAmt
Total Assets EOYFMV$234,248TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Capital Stock BOY$0CapitalStockBOYAmt
Capital Stock EOY$0CapitalStockEOYAmt
Additional Paid In Capital BOY$0AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY$0AdditionalPaidInCapitalEOYAmt
Retained Earning BOY$346,699RetainedEarningBOYAmt
Retained Earning EOY$234,248RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$346,699TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$234,248TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$346,699TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$234,248TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$346,699TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$112,451ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$234,248SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$234,248TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 Tax0LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$73,600AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$346,699NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.212288DistributionYr1Rt
Adjusted Qlfy Distri Yr2$155,000AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$484,591NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.319857DistributionYr2Rt
Adjusted Qlfy Distri Yr3$202,000AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$567,120NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.356186DistributionYr3Rt
Adjusted Qlfy Distri Yr4$251,000AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$491,356NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.510831DistributionYr4Rt
Adjusted Qlfy Distri Yr5$305,652AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$477,871NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.639612DistributionYr5Rt
Total Distribution2.038774TotalDistributionRt
Average Distribution0.407755AverageDistributionRt
Net Vl Noncharitable Assets$288,580NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$117,670AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$35NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$117,705AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$116,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$71InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$71SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$71TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$0EstimatedPlusOvpmtIncmTxAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld$0BackupWithholdingWithheldAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Es Penalty$0EsPenaltyAmt
Tax Due$71TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateTNOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial Contributors0NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksDarin DrakeIndividualWithBooksNm
Phone9012215220PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1482 Halle Park Drive Suite 101AddressLine1Txt
CityColliervilleCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonDarin DrakePersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1482 Halle Park Drive Suite 101AddressLine1Txt
CityMemphisCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd
FieldValueIRS element (for citing)
TitleSecretary/BODTitleTxt
Average Hrs Per Wk Devoted To Pos0.50AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$292,975AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$292,975TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$292,975AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,395CashDeemedCharitableAmt
Net Vl Noncharitable Assets$288,580NetVlNoncharitableAssetsAmt
Minimum Investment Return$14,429MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$14,429MinimumInvestmentReturnAmt
Tax Based On Investment Income$71TaxBasedOnInvestmentIncomeAmt
Total Tax$71TotalTaxAmt
Distributable Before Adj$14,358DistributableBeforeAdjAmt
Recoveries Qualfied Distri$0RecoveriesQualfiedDistriAmt
Distributable Before Ded$14,358DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$14,358DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$116,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$116,000QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$116,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$14,358DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$116,000QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$14,358AppliedToCurrentYearAmt
Remaining Distri From Corpus$101,642RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$101,642TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$101,642ExcessDistriCyovToNextYrAmt
Excess From Current Year$101,642ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Kindred Place
2180 Union AvenueMemphisTN38104NoneFurther exempt purpose$1,000
Montrose Community Foundation
PO Box 3020MontroseCO81402NoneFurther exempt purpose$5,000
Pastoral Leadership Institute
PO Box 972WheatonIL601870972NoneFurther Exempt Purpose$110,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$116,000TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion02ExclusionCd
Exclusion$3,549ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$3,549ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$3,549TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Comments

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