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AL KING FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
AL KING FAMILY FOUNDATION (EIN 87-2914039)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-10-16
IRS object ID
202512899349100921
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)
Return2025-10-16T18:39:29-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13333 New Hyde Park Rd Ste 406AddressLine1Txt
CityNew Hyde ParkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN872914039EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Al King Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlALKIBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonAl W King IIIPersonNm
Person TitlePresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2025-10-07SignatureDt
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 PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
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$11,675,351FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,745,090ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$109,727InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$109,727InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$109,432DividendsRevAndExpnssAmt
Dividends Net Invst Incm$109,432DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$2,585,481NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$11,083,984GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$3,787,909CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$5,549,730TotalRevAndExpnssAmt
Total Net Invst Incm$4,007,068TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$1,187OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$1,187OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$200TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$23,012OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$23,012OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$24,399TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$1,187TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$23,012TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$20,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$20,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$44,399TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$1,187TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$43,012TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$5,505,331ExcessRevenueOverExpensesAmt
Net Investment Income$4,005,881NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$313,970SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$11,562,860SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$11,562,860SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$5,853,319CorporateStockBOYAmt
Corporate Stock EOY$109,760CorporateStockEOYAmt
Corporate Stock EOYFMV$112,491CorporateStockEOYFMVAmt
Total Assets BOY$6,167,289TotalAssetsBOYAmt
Total Assets EOY$11,672,620TotalAssetsEOYAmt
Total Assets EOYFMV$11,675,351TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$6,167,289RetainedEarningBOYAmt
Retained Earning EOY$11,672,620RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$6,167,289TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$11,672,620TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$6,167,289TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$11,672,620TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$6,167,289TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$5,505,331ExcessRevenueOverExpensesAmt
Subtotal$11,672,620SubtotalAmt
Tot Net Ast Or Fund Balances EOY$11,672,620TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$11,083,984GrossSalesPriceAmt
Cost Or Other Basis$7,296,075CostOrOtherBasisAmt
Gain Or Loss$3,787,909GainOrLossAmt
Gains Minus Excess Or Losses$3,787,909GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$3,787,909CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$55,682InvestmentIncomeExciseTaxAmt
Subtotal$55,682SubtotalAmt
Tax Based On Investment Income$55,682TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$60EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$57,200ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$57,260TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt
Overpayment$1,578OverpaymentAmt
Applied To ES Tax$1,578AppliedToESTaxAmt

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 StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundYes (true)DonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionYes (true)ForeignAccountsQuestionInd
Foreign CountryUKForeignCountryCd

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
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

FieldValueIRS element (for citing)
PersonAl W King IIIPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
TitleDir, Pres, Sec, TreasTitleTxt
Average Hrs Per Wk Devoted To Pos1.0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
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$5,825,316AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$2,683,737AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$8,509,053TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$8,509,053AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$127,636CashDeemedCharitableAmt
Net Vl Noncharitable Assets$8,381,417NetVlNoncharitableAssetsAmt
Minimum Investment Return$419,071MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$419,071MinimumInvestmentReturnAmt
Tax Based On Investment Income$55,682TaxBasedOnInvestmentIncomeAmt
Total Tax$55,682TotalTaxAmt
Distributable Before Adj$363,389DistributableBeforeAdjAmt
Distributable Before Ded$363,389DistributableBeforeDedAmt
Distributable As Adjusted$363,389DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$43,012ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$43,012QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$363,389DistributableAsAdjustedAmt
Undistributed Income PY$36,744UndistributedIncomePYAmt
Qualifying Distributions$43,012QualifyingDistributionsAmt
Applied To Year1$36,744AppliedToYear1Amt
Applied To Current Year$6,268AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$357,121UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerAl W King IIIContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INCBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1555 CALIFORNIA ST 14TH FLAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94104ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeAl King Family Foundation FUNDGrantOrContributionPurposeTxt
Amt$20,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$20,000TotalGrantOrContriPdDurYrAmt

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$109,727ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$109,432ExclusionAmt
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$2,585,481ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$2,804,640ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$2,804,640TotalIncomeProducingActyAmt

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 PersonKing III Al WContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line137 Ferry Lane EastAddressLine1Txt
CityWestportCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06880ZIPCd
FieldValueIRS element (for citing)
Total Contributions$2,745,090TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Noncash PropertyJTC PLC JTCPF, 194015 sh.NoncashPropertyDesc
Fair Market Value$2,720,090FairMarketValueAmt
Received2024-09-09ReceivedDt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (18 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
AMERICAN BEACON AHL MNGD FUTUR$3,480$3,398
ARISTOTLE VALUE EQUITY FUND CL$5,863$6,052
BLACKROCK GLOBAL LONG SHORT EQ$5,821$5,600
FIRST TR EXCHANGE TRADED FD VI$2,456$2,336
FIRST TRUST S&P REIT INDEX F$2,335$2,260
GLOBAL X MLP & ENERGY INFRASTR$1,816$2,273
GOLDMAN SACHS ABSOLUTE RETURN$4,234$4,498
GUGGENHEIM TOTAL RETURN BOND F$24,884$23,216
HARRIS ASSOCIATION INVT TRUST$5,339$6,178
HARTFORD MUTUAL FDS INC INTL V$7,530$8,711
INVESCO S&P MIDCAP 400 PURE VA$959$1,143
JANUS ENTERPRISE CL I$3,408$3,346
PGIM ULTRA SHORT BD ETF$1,139$1,144
POLEN GROWTH FUND INSTITUTIONA$4,297$4,969
SCHRODER EMERGING MKT EQUITY F$5,812$5,576
VANGARD RUSSELL 1000 GROWTH$3,123$5,273
VANGUARD S&P 500 ETF$2,458$3,409
WELLS FARGO CORE PLUS BOND FUN$24,806$23,109

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$22,987$22,987
State or Local Filing Fees$25$25

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment Management ServicesCategoryTxt
Amt$1,187Amt
Net Investment Income$1,187NetInvestmentIncomeAmt

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationWe respectfully request that Al King Family Foundation's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $8 penalty indicated on Form 2220 be abated because the underpayment in Q3 and Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm's software correctly determined that the foundation could pay its Q3 and Q4 estimate based on prior year tax liability. However, since that liability was under $500, the software incorrectly indicated that no quarterly payment was due. As soon as the error was discovered, the foundation paid the required tax. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules and respectfully request that no 2220 penalty be assessed.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Extension for 2023CategoryTxt
Amt$200Amt

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