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HAROLD AND PATRICIA KORELL FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
HAROLD AND PATRICIA KORELL FOUNDATION (EIN 27-1507283)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-07-05
IRS object ID
201941869349100304
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)
Return2019-07-05T15:34:41-07:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Roger Goddard CPA PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13100 Timmons Lane Suite 440AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77027ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN271507283EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Harold and Patricia Korell FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlHAROBusinessNameControlTxt
Phone7135222293PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Pkwy Unit 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHarold M KorellPersonNm
Person TitlePresidentPersonTitleTxt
Phone7135222293PhoneNum
Signature2019-07-01SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRoger D GoddardPreparerPersonNm
PTINP01219221PTIN
Phone7136225088PhoneNum
Preparation2019-07-05PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address74.213.53.26IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-07-05IPDt
IP Tm15:34:37IPTm
IP TimezonePDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id16E3B034A97A269718EB753575D53CBE46767BCFAtSubmissionCreationDeviceId
At Submission Filing Device Id16E3B034A97A269718EB753575D53CBE46767BCFAtSubmissionFilingDeviceId
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$559,308FMVAssetsEOYAmt
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$472InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$472InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss$0GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss$0OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$472TotalRevAndExpnssAmt
Total Net Invst Incm$472TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$0LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss$0AccountingFeesRevAndExpnssAmt
Other Prof Fees Rev And Expnss$0OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$3TaxesRevAndExpnssAmt
Deprec And Dpltn Rev And Expnss$0DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$0OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$3TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$2,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$2,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,003TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$1,531ExcessRevenueOverExpensesAmt
Net Investment Income$472NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$247,119SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$245,588SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$245,588SavAndTempCashInvstEOYFMVAmt
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY$0OtherNtsAndLoansRcvblEOYAmt
Corporate Stock BOY$4,638,640CorporateStockBOYAmt
Corporate Stock EOY$4,638,640CorporateStockEOYAmt
Corporate Stock EOYFMV$313,720CorporateStockEOYFMVAmt
Land Bldg Investments EOY$0LandBldgInvestmentsEOYAmt
Other Investments EOY$0OtherInvestmentsEOYAmt
Land EOY$0LandEOYAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$0OtherAssetsEOYAmt
Other Assets EOYFMV$0OtherAssetsEOYFMVAmt
Total Assets BOY$4,885,759TotalAssetsBOYAmt
Total Assets EOY$4,884,228TotalAssetsEOYAmt
Total Assets EOYFMV$559,308TotalAssetsEOYFMVAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY$0MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY$0OtherLiabilitiesBOYAmt
Other Liabilities EOY$0OtherLiabilitiesEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$4,885,759RetainedEarningBOYAmt
Retained Earning EOY$4,884,228RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$4,885,759TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,884,228TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,885,759TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,884,228TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,885,759TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$1,531ExcessRevenueOverExpensesAmt
Subtotal$4,884,228SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,884,228TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$0AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$857,533NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.000000DistributionYr1Rt
Adjusted Qlfy Distri Yr2$0AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$1,227,778NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.000000DistributionYr2Rt
Adjusted Qlfy Distri Yr3$203,716AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$2,222,459NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.091662DistributionYr3Rt
Adjusted Qlfy Distri Yr4$225,000AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$4,779,796NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.047073DistributionYr4Rt
Adjusted Qlfy Distri Yr5$219,000AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$4,628,318NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.047317DistributionYr5Rt
Total Distribution0.186052TotalDistributionRt
Average Distribution0.037210AverageDistributionRt
Net Vl Noncharitable Assets$678,033NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$25,230AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$5NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$25,235AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$2,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$9InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$9SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$9TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Original Return Tax Paid$0OriginalReturnTaxPaidAmt
Tax Due$9TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 StateTXOrgReportOrRegisterStateCd
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
Website AddressN/AWebsiteAddressTxt
Individual With BooksHarold KorellIndividualWithBooksNm
Phone7135222293PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Parkway 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd
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 PYYes (true)UndistributedIncomePYInd
Undistributed Income PY12017UndistributedIncomePY1Yr
Undistr Incm Sect4942a2 Not AppYes (true)UndistrIncmSect4942a2NotAppInd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Harold M Korell
3333 Allen Parkway 2708HoustonTX77019P/Director1.00$0$0$0
Patricia Korell
3333 Allen Parkway 2708HoustonTX77019Sec/Director1.00$0$0$0
Roger D Goddard
3100 Timmons Lane 440HoustonTX77027Tre/Director0.00$0$0$0
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

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$442,635AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$245,723AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$688,358TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$688,358AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$10,325CashDeemedCharitableAmt
Net Vl Noncharitable Assets$678,033NetVlNoncharitableAssetsAmt
Minimum Investment Return$33,902MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$33,902MinimumInvestmentReturnAmt
Tax Based On Investment Income$9TaxBasedOnInvestmentIncomeAmt
Total Tax$9TotalTaxAmt
Distributable Before Adj$33,893DistributableBeforeAdjAmt
Distributable Before Ded$33,893DistributableBeforeDedAmt
Distributable As Adjusted$33,893DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,000ExpensesAndContributionsAmt
Qualifying Distributions$2,000QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$2,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$33,893DistributableAsAdjustedAmt
Undistributed Income PY$20,007UndistributedIncomePYAmt
Excess Distribution Cyov Yr5$0ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$0ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$0ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$0ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$2,000QualifyingDistributionsAmt
Applied To Year1$2,000AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$18,007Taxable2Amt
Undistributed Income CY$33,893UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Year4$0ExcessFromYear4Amt
Excess From Year3$0ExcessFromYear3Amt
Excess From Year2$0ExcessFromYear2Amt
Excess From Year1$0ExcessFromYear1Amt
Excess From Current Year$0ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerHarold M Korell and Patricia KorellContributingManagerNm
Contributing Managertraded securities with a market valContributingManagerNm
Contributing ManagerHarold M Korell and Patricia KorellContributingManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonHarold KorellRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Parkway 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd
FieldValueIRS element (for citing)
Recipient Phone7135222293RecipientPhoneNum
Form And Info And MaterialsWritten request including brochure on organizationFormAndInfoAndMaterialsTxt
Submission DeadlinesNoneSubmissionDeadlinesTxt
Restrictions On AwardsNoneRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1Sandy Creek ChurchBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1FM 389AddressLine1Txt
CityBrenhamCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77833ZIPCd
FieldValueIRS element (for citing)
Recipient Foundation StatusN.A.RecipientFoundationStatusTxt
Grant Or Contribution PurposeGeneral supportfor religiousinstitutionGrantOrContributionPurposeTxt
Amt$2,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$2,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$472ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$472ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$472TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSouthwestern Energy Co. - 92,000 shares (value at time of receiptStockNm
EOY Book Value$4,638,640EOYBookValueAmt
EOYFMV$313,720EOYFMVAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFederal income taxCategoryTxt
Amt$3Amt

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