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RICHARD DESICH FOUNDATION: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
RICHARD DESICH FOUNDATION (EIN 26-4308958)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-04-17
IRS object ID
201841079349100019
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 ReturnHeader

FieldValueIRS element (for citing)
Return2018-04-17T14:22:41-05:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1Txt
CityLake SuccessCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN264308958EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Richard Desich FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlRICHBusinessNameControlTxt
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)
PersonRICHARD DESICHPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2018-04-09SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,737,399FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,234,907ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$80InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$80InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,234,987TotalRevAndExpnssAmt
Total Net Invst Incm$80TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Expenses Rev And Expnss$553,902OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,025OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$553,902TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,025TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$550,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$550,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,103,902TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$555,025TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$131,085ExcessRevenueOverExpensesAmt
Net Investment Income$80NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$3,683SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$8,738SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$8,738SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$2,711,375OtherInvestmentsBOYAmt
Other Investments EOY$2,837,405OtherInvestmentsEOYAmt
Other Investments EOYFMV$2,728,661OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,715,058TotalAssetsBOYAmt
Total Assets EOY$2,846,143TotalAssetsEOYAmt
Total Assets EOYFMV$2,737,399TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$2,715,058RetainedEarningBOYAmt
Retained Earning EOY$2,846,143RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,715,058TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,846,143TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,715,058TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,846,143TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,715,058TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$131,085ExcessRevenueOverExpensesAmt
Subtotal$2,846,143SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,846,143TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$613,225AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$2,520,347NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.24331DistributionYr1Rt
Adjusted Qlfy Distri Yr2$746,824AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$2,221,262NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.336216DistributionYr2Rt
Adjusted Qlfy Distri Yr3$505,025AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,311,115NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.385187DistributionYr3Rt
Adjusted Qlfy Distri Yr4$505,684AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,634,793NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.309326DistributionYr4Rt
Adjusted Qlfy Distri Yr5$506,678AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$1,390,352NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.364424DistributionYr5Rt
Total Distribution1.638463TotalDistributionRt
Average Distribution0.327693AverageDistributionRt
Net Vl Noncharitable Assets$2,693,015NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$882,482AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$1NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$882,483AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$555,025QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2InvestmentIncomeExciseTaxAmt
Subtotal$2SubtotalAmt
Tax Based On Investment Income$2TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$93EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$93TotalPaymentsAndCreditsAmt
Overpayment$91OverpaymentAmt
Applied To ES Tax$91AppliedToESTaxAmt

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 FundfalseDonorAdvisedFundInd
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 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 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

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonRichard DesichPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
TitlePres, Dir, SecTitleTxt
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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$5,364AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$2,728,661FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$2,734,025TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$2,734,025AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$41,010CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,693,015NetVlNoncharitableAssetsAmt
Minimum Investment Return$134,651MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$134,651MinimumInvestmentReturnAmt
Tax Based On Investment Income$2TaxBasedOnInvestmentIncomeAmt
Total Tax$2TotalTaxAmt
Distributable Before Adj$134,649DistributableBeforeAdjAmt
Distributable Before Ded$134,649DistributableBeforeDedAmt
Distributable As Adjusted$134,649DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$555,025ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$555,025QualifyingDistributionsAmt
Adjusted Qualifying Distri$555,025AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$134,649DistributableAsAdjustedAmt
Prior Year12015PriorYear1Yr
Prior Year22014PriorYear2Yr
Prior Year32013PriorYear3Yr
Excess Distribution Cyov Yr5$437,167ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$423,945ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$439,471ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$635,763ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$487,211ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$2,423,557TotalExcessDistributionCyovAmt
Qualifying Distributions$555,025QualifyingDistributionsAmt
Applied To Current Year$134,649AppliedToCurrentYearAmt
Remaining Distri From Corpus$420,376RemainingDistriFromCorpusAmt
Total Corpus$2,843,933TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$437,167ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$2,406,766ExcessDistriCyovToNextYrAmt
Excess From Year4$423,945ExcessFromYear4Amt
Excess From Year3$439,471ExcessFromYear3Amt
Excess From Year2$635,763ExcessFromYear2Amt
Excess From Year1$487,211ExcessFromYear1Amt
Excess From Current Year$420,376ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION
1005 ABBE RD NELYRIAOH44035N/ASO III FILegacy of Leadership Program$50,000
LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION
1005 ABBE RD NELYRIAOH44035N/ASO III FIfor the Capital Campaign and various Programs as outlined in the foundation's pledge agreement$500,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$550,000TotalGrantOrContriPdDurYrAmt

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$80ExclusionAmt
FieldValueIRS element (for citing)
Div And Int From Sec Part VIIDivAndIntFromSecPartVIIGrp
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$80ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$80TotalIncomeProducingActyAmt

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 PersonDesich RichardContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1200 Dorado Beach Drive Apt 3632AddressLine1Txt
CityDoradoCityNm
State AbbreviationPRStateAbbreviationCd
ZIP00646ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,234,907TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

FieldValueIRS element (for citing)
Category Or ItemPACIFIC LIFE-POLICY VF51918560CategoryOrItemTxt
Book Value$2,837,405BookValueAmt
EOYFMV$2,728,661EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$5,000$5,000
Life Insurance Premium$548,877
State or Local Filing Fees$25$25

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