WALLACE GENETIC FOUNDATION INC: Form 990PF, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- WALLACE GENETIC FOUNDATION INC (EIN 13-6162575)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-05-15
- IRS object ID
- 201831359349100538
- Schema version
- 2017v2.3
- 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-PF
- Accounting Fees Schedule
- Depreciation Schedule
- General Explanation Attachment
- Liquidation Explanation Stmt
- Legal Fees Schedule
- Other Assets Schedule
- Other Decreases Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Increases Schedule
- Other Liabilities Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-05-15T09:44:09-05:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8401 GREENSBORO DRIVE 800 | AddressLine1Txt |
| City | MCLEAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 136162575 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WALLACE GENETIC FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % DAVID DOUGLAS | InCareOfNm |
| Business Name Control | WALL | BusinessNameControlTxt |
| Phone | 2029662932 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4910 MASSACHUSETTS AVE NW Suite ST | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20016 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID DOUGLAS | PersonNm |
| Person Title | Director | PersonTitleTxt |
| Phone | 2029662932 | PhoneNum |
| Signature | 2018-05-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jeffrey J Schragg | PreparerPersonNm |
| PTIN | P00234543 | PTIN |
| Phone | 7038930600 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $909,238 | FMVAssetsEOYAmt |
| Method Of Accounting Other | Yes (X) | MethodOfAccountingOtherInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $0 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $2,939,270 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,939,270 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $0 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $10,284,202 | NetGainSaleAstRevAndExpnssAmt |
| Cap Gain Net Incm Net Invst Incm | $10,284,202 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $56 | OtherIncomeRevAndExpnssAmt |
| Total Rev And Expnss | $13,223,528 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $13,223,472 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $0 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $371,288 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $25,990 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Adj Net Incm | $0 | CompOfcrDirTrstAdjNetIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $345,298 | CompOfcrDirTrstDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $58,774 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $0 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $70,041 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $19,071 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $19,071 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $453,334 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $453,334 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Adj Net Incm | $0 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $0 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $86,715 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $4,046 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $0 | TaxesAdjNetIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Deprec And Dpltn Rev And Expnss | $2,523 | DeprecAndDpltnRevAndExpnssAmt |
| Deprec And Dpltn Adj Net Incm | $0 | DeprecAndDpltnAdjNetIncmAmt |
| Occupancy Rev And Expnss | $100,813 | OccupancyRevAndExpnssAmt |
| Occupancy Adj Net Incm | $0 | OccupancyAdjNetIncmAmt |
| Occupancy Dsbrs Chrtbl | $100,813 | OccupancyDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $23,262 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $222 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $23,041 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $1,166,750 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $502,663 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $488,223 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $10,500,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $10,500,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $11,666,750 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $502,663 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $10,988,223 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $1,556,778 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $12,720,809 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $692,573 | CashBOYAmt |
| Cash EOY | $615,686 | CashEOYAmt |
| Cash EOYFMV | $615,686 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $4,124,067 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $110,156 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $110,156 | SavAndTempCashInvstEOYFMVAmt |
| Acct Rcvbl BOY | $0 | AcctRcvblBOYAmt |
| Prepaid Expenses BOY | $0 | PrepaidExpensesBOYAmt |
| Prepaid Expenses EOY | $8,885 | PrepaidExpensesEOYAmt |
| Prepaid Expenses EOYFMV | $8,885 | PrepaidExpensesEOYFMVAmt |
| US Government Obligations BOY | $4,676,581 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $0 | USGovernmentObligationsEOYAmt |
| Corporate Stock BOY | $184,565,236 | CorporateStockBOYAmt |
| Corporate Stock EOY | $0 | CorporateStockEOYAmt |
| Land BOY | $15,384 | LandBOYAmt |
| Other Assets EOY | $174,511 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $174,511 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $194,073,841 | TotalAssetsBOYAmt |
| Total Assets EOY | $909,238 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $909,238 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $22,794 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $2,734 | AccountsPayableEOYAmt |
| Other Liabilities EOY | $2,076 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $22,794 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,810 | TotalLiabilitiesEOYAmt |
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
| Unrestricted BOY | $194,051,047 | UnrestrictedBOYAmt |
| Unrestricted EOY | $904,428 | UnrestrictedEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $194,051,047 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $904,428 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $194,073,841 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $909,238 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $194,051,047 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $1,556,778 | ExcessRevenueOverExpensesAmt |
| Other Increases | $35,280,928 | OtherIncreasesAmt |
| Subtotal | $230,888,753 | SubtotalAmt |
| Other Decreases | $229,984,325 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $904,428 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $10,284,202 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $9,735,816 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $184,469,936 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.052777 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $9,682,313 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $184,481,515 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.052484 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $9,710,262 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $189,643,235 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.051203 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $8,933,255 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $167,746,088 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.053255 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $7,656,689 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $157,369,200 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.048654 | DistributionYr5Rt |
| Total Distribution | 0.258373 | TotalDistributionRt |
| Average Distribution | 0.051675 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $190,709,658 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $9,854,922 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $127,208 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $9,982,130 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $10,988,223 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | Yes (X) | DomesticOrgMeetingSect4940eInd |
| Investment Income Excise Tax | $127,208 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $127,208 | SubtotalAmt |
| Tax Based On Investment Income | $127,208 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $301,719 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $301,719 | TotalPaymentsAndCreditsAmt |
| Overpayment | $174,511 | OverpaymentAmt |
| Applied To ES Tax | $355 | AppliedToESTaxAmt |
| Refund | $174,156 | RefundAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Organization Dissolved Etc | Yes (true) | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | DC | OrgReportOrRegisterStateCd |
| Org Report Or Register State | NY | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | WWW.WALLACEGENETIC.ORG | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAVID DOUGLAS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2029662932 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4910 MASSACHUSETTS AVE NW STE 221 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| DAVID DOUGLAS | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | VP, TREASURER & DIRECTOR | 3.0 | $0 | $0 | $0 |
| Joan Douglas Murray | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | PRESIDENT AND DIRECTOR | 25.0 | $0 | $0 | $0 |
| PATRICIA LEE | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | CO-EXEC. DIRECTOR (1/1-10/31) | 19.0 | $188,554 | $0 | $0 |
| Ann D Cornell | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | VP, Secretary AND DIRECTOR | 3.0 | $0 | $0 | $0 |
| Carolyn Sand | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | CO-EXEC. DIRECTOR (1/1-10/31) | 13.0 | $182,734 | $0 | $0 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| BDO USA LLP | |||||
| 770 KENMOOR SE STE 300 | GRAND RAPIDS | MI | 49546 | 0 | $72,669 |
| TRISTER ROSS SCHADLER & GOLD PLLC | |||||
| 1666 CONNECTICUT AVE NW STE 5 | WASHINGTON | DC | 20009 | 0 | $58,774 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Summary Of Direct Chrtbl Acty | SummaryOfDirectChrtblActyGrp | |
| Sum Of Program Related Invst | SumOfProgramRelatedInvstGrp |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $189,435,794 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $4,141,586 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $36,486 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $193,613,866 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $193,613,866 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $2,904,208 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $190,709,658 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $9,535,483 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $9,535,483 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $127,208 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $127,208 | TotalTaxAmt |
| Distributable Before Adj | $9,408,275 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $9,408,275 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $9,408,275 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $10,988,223 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $10,988,223 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $127,208 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $10,861,015 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $9,408,275 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $0 | UndistributedIncomePYAmt |
| Prior Year1 | 2015 | PriorYear1Yr |
| Prior Year2 | 2014 | PriorYear2Yr |
| Prior Year3 | 2013 | PriorYear3Yr |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Excess Distribution Cyov Yr4 | $789,648 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $336,610 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $610,407 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $590,600 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $2,327,265 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $10,988,223 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Applied To Current Year | $9,408,275 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $1,579,948 | RemainingDistriFromCorpusAmt |
| Total Corpus | $3,907,213 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $3,907,213 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $789,648 | ExcessFromYear4Amt |
| Excess From Year3 | $336,610 | ExcessFromYear3Amt |
| Excess From Year2 | $610,407 | ExcessFromYear2Amt |
| Excess From Year1 | $590,600 | ExcessFromYear1Amt |
| Excess From Current Year | $1,579,948 | ExcessFromCurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Foundations | PrivateOperatingFoundationsGrp |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | NA | ContributingManagerNm |
| Shareholder Manager | NA | ShareholderManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ATTACHMENT 5A | BusinessNameLine1Txt |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4910 Massachusetts Ave NW | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Or Contribution Purpose | Support | GrantOrContributionPurposeTxt |
| Amt | $10,500,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $10,500,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp | |
| Int On Sav And Temp Cash Invst | IntOnSavAndTempCashInvstGrp |
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,939,270 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Incm Part VII | OtherInvestmentIncmPartVIIGrp |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $10,284,202 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSURANCE REFUND | Desc |
| Exclusion | 29 | ExclusionCd |
| Exclusion | $56 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $13,223,528 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $13,223,528 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ACCOUNTING FEES | CategoryTxt |
| Amt | $70,041 | Amt |
| Net Investment Income | $19,071 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $19,071 | DisbursementsCharitablePrpsAmt |
Depreciation Schedule DepreciationSchedule
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | FIXED ASSET DETAIL | IdentifierTxt |
| Form And Line Reference | FIXED ASSET DETAIL | FormAndLineReferenceDesc |
| Medium Explanation | COMPUTER EQUIPMENT 4,801 FURNITURE 37,182 ------- TOTAL FIXED ASSETS 41,982 LESS: ACCUM. DEPRECIATION -41,844 ------- NET FIXED ASSETS 139 CURRENT YEAR DEPRECIATION EXPENSE 443 | MediumExplanationTxt |
Liquidation Explanation Stmt LiquidationExplanationStmt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | IN 2017 WALLACE GENETIC FOUNDATION, INC. ("WGF") UNDERTOOK STEPS TO BEGIN A PROCESS OF REORGANIZATION CONSISTENT WITH REVENUE RULING 2002-28. WGF FILED A PETITION FOR APPROVAL OF A PLAN OF DISSOLUTION AND DISTRIBUTION OF ASSETS ("THE PLAN") WITH THE NEW YORK ATTORNEY GENERAL. THE PLAN DESCRIBED THE INTENT TO DISTRIBUTE TWO-THIRD'S OF WGF'S NET ASSETS TO THE WALLACE GENETIC FOUNDATION II ("WGF II"), A DELAWARE CORPORATION, (EIN: 81-4236372), AND ONE-THIRD OF ITS NET ASSETS TO THE FARVUE FOUNDATION ("FARVUE"), A DELAWARE CORPORATION, (EIN: 27-1938940). THE NEW YORK ATTORNEY GENERAL TOOK THE FIRST STEPS IN APPROVING THE PLAN IN OCTOBER 2017. SEE ATTACHED COPY. AS SUCH, WGF DISTRIBUTED SUBSTANTIALLY ALL OF ITS ASSETS TO WGF II AND FARVUE PRIOR TO DECEMBER 31, 2017. A REASONABLE AMOUNT OF CASH WAS MAINTAINED TO COVER OUTSTANDING AND ANTICIPATED LIABILITIES. WGF HAS NOT AND WILL NOT GIVE NOTICE TO THE SECRETARY OF THE TREASURY OF ITS INTENT TO TERMINATE ITS PRIVATE FOUNDATION STATUS UNDER IRC SECTION 507(A)(1) UNTIL ALL REMAINING ASSETS ARE DISTRIBUTED AND WGF WINDS UP ITS AFFAIRS. | ExplanationTxt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $58,774 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | IRS TAX REFUND RECEIVABLE | Desc |
| EOY Book Value | $174,511 | EOYBookValueAmt |
| EOYFMV | $174,511 | EOYFMVAmt |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail (3 entries)
| DescDesc | AmtAmt |
|---|---|
| TRANSFERS TO FARVUE | $77,235,509 |
| TRANSFER TO WALLACE II FOUNDATION | $152,748,815 |
| ROUNDING | $1 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (6 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| BANK CHARGES | $443 | $222 | $222 |
| ADMINISTRATIVE EXPENSE | $2,000 | $2,000 | |
| INSURANCE | $6,479 | $6,479 | |
| OFFICE EXPENSES | $4,060 | $4,060 | |
| TELEPHONE | $6,888 | $6,888 | |
| PAYROLL EXPENSES | $3,392 | $3,392 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Revenue And Expenses Per Books | $56 | RevenueAndExpensesPerBooksAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail (2 entries)
| DescDesc | AmtAmt |
|---|---|
| UNREALIZED GAIN ON INVESTMENTS | $35,265,040 |
| BOOK TO TAX DIFFERENCE - COMPENSATION | $15,888 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ACCRUED COMMISSION | Desc |
| EOY Book Value | $2,076 | EOYBookValueAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | INVESTMENT FEES | CategoryTxt |
| Amt | $453,334 | Amt |
| Net Investment Income | $453,334 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (4 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| PAYROLL TAXES | $19,982 | $0 | $0 | $0 |
| OTHER TAXES PAID | $1,600 | $0 | $0 | $0 |
| TAXES PAID ON INVESTMENTS | $4,046 | $4,046 | $0 | $0 |
| FEDERAL TAXES PAID | $61,087 | $0 | $0 | $0 |