2018-07-12T14:03:21-05:00 2017-12-31 860683059 BEACHFLEISCHMAN PC 1985 E RIVER ROAD SUITE 201 TUCSON AZ 85718 990 2017-01-01 472052113 LOWELL OBSERVATORY FOUNDATION LOWE 9287743358 1400 W MARS HILL ROAD FLAGSTAFF AZ 860014470 W DAVID CONNELL BOARD CHAIRMAN 9287743358 2018-07-06 1 KAREN K MCCLOSKEY CPA P00099644 5203214600 2017 2022-09-23 18:48:47Z W DAVID CONNELL 1400 W MARS HILL ROAD FLAGSTAFF AZ 860014470 3609765 0 X HTTPS://FOUNDATION.LOWELL.EDU/ X 2014 AZ A FOUNDATION GOVERNED BY AN INDEPENDENT BOARD OF TRUSTEES AND DEDICATED SOLELY TO SUPPORTING LOWELL OBSERVATORY'S MISSION. 7 6 0 6 0 0 1341096 1508622 0 0 81092 180219 0 0 1422188 1688841 109006 94026 0 0 0 0 0 0 0 20000 29393 129006 123419 1293182 1565422 3468940 5339642 0 0 3468940 5339642 X THE FOUNDATION WAS ESTABLISHED TO HELP DONORS ACHIEVE THEIR LONG-TERM ENDOWMENT GOALS AND MANAGE SHORT-TERM TARGETED DONATIONS TO LOWELL OBSERVATORY IN ORDER TO SUPPORT THE OBSERVATORY'S MISSION IN PERPETUITY. 0 0 94026 94026 LOWELL OBSERVATORY FOUNDATION MANAGES THE ENDOWMENT FUNDS FOR LOWELL OBSERVATORY. IN 2017, THE FOUNDATION TRANSFERRED $94,026 OF INVESTMENT EARNINGS TO THE OBSERVATORY IN ORDER TO SUPPORT GENERAL OPERATIONS. IN 2017 THE FOUNDATION ESTABLISHED TWO NEW ENDOWMENTS. THEY RECEIVED A $537,143 DONATION TO CREATE A NEW ENDOWMENT TO SUPPORT THE ACQUISITION, DEVELOPMENT, MAINTENANCE OF AND ACCESS TO TECHNOLOGIES, INSTRUMENTS, AND TELESCOPES LOCATED WITHIN THE OBSERVATORY'S FACILITIES OR ELSEWHERE. ALSO, THEY RECEIVED A $500,000 DONATION TO CREATE A NEW ENDOWMENT WHICH SUPPORTS ASTRONOMICAL RESEARCH BY THE LOWELL OBSERVATORY ASTRONOMERS. ALONG WITH THESE TWO NEW ENDOWMENTS, THE CURRENT EXPLORATION FUND ENDOWMENT RECEIVED AN ADDITIONAL $360,000 IN DONATIONS TO SUPPORT RESEARCH AND RESEARCHERS AT LOWELL OBSERVATORY. 94026 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 AZ X X ANNE LABRUZZO 9282333239 1400 MARS HILL ROAD FLAGSTAFF AZ 860014470 W LOWELL PUTNAM TRUSTEE 2.00 32.00 X 0 1175 7523 STEPHEN W BROWN TRUSTEE 2.00 X 0 0 0 DAVID D CHASE TRUSTEE 2.00 X 0 0 0 DONNA WEISTROP TRUSTEE 2.00 X 0 0 0 JOHN A RADWAY JR TRUSTEE 2.00 X 0 0 0 VIRGINIA G GIOVALE TRUSTEE 2.00 X 0 0 0 W DAVID CONNELL BOARD CHAIR 2.00 X X 0 0 0 LISA ACTOR EXECUTIVE DIRECTOR 2.00 X 0 0 0 0 1175 7523 0 0 0 0 0 920047 588575 13910 1508622 173964 173964 1927179 1920924 6255 6255 6255 1688841 0 0 180219 94026 94026 29325 29325 68 68 123419 94026 29393 0 27344 42339 186482 2560981 60000 60000 3195114 2675322 1000 3468940 5339642 0 0 X -63424 6341 94516 419397 3437848 4913904 3468940 5339642 3468940 5339642 1565422 305280 0 X 0 1 X 0 0 X X 1 LOWELL OBSERVATORY 860098918 7 1 94026 0 1 94026 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3288078 1476056 466533 82526 29325 5118816 2075218 1254991 181391 109006 94516 20000 3288078 2282857 -207639 2075218 0.00000 1.00000 0.00000 0 0 0 X PART V, LINE 4: A MAJORITY OF THE ENDOWMENT FUNDS ARE HELD IN PERPETUITY FOR THE BENEFIT OF LOWELL OBSERVATORY. PART X, LINE 2: THE FOLLOWING DISCLOSURE IS RELATED TO THE COMBINED FINANCIAL STATEMENTS OF THE LOWELL OBSERVATORY, TRUST U/W OF PERCIVAL LOWELL, AND THE LOWELL OBSERVATORY FOUNDATION: THE OBSERVATORY AND THE FOUNDATION ARE EXEMPT FROM INCOME TAXES UNDER BOTH INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND ARIZONA INCOME TAX LAWS. THE OBSERVATORY IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION UNDER IRC SECTION 509(A)(1). THE FOUNDATION IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION UNDER IRC SECTION 509(A)(3) AS A SUPPORTING ORGANIZATION OF THE OBSERVATORY. THE TRUST QUALIFIES AS AN IRC SECTION 509(A)(3) SUPPORTING ORGANIZATION OF THE OBSERVATORY. NO PROVISION FOR FEDERAL AND STATE INCOME TAXES IS MADE. INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE, HOWEVER, MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS TAXABLE INCOME (UBTI). GAAP REQUIRES MANAGEMENT TO PERFORM AN EVALUATION OF ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. THIS EVALUATION IS REQUIRED TO BE PERFORMED FOR ALL OPEN TAX YEARS, AS DEFINED BY THE VARIOUS STATUTES OF LIMITATIONS, FOR FEDERAL AND STATE PURPOSES. THE ORGANIZATION IS ONLY SUBJECT TO INCOME TAXES ON UBTI AS APPLICABLE. THE ORGANIZATION IS REQUIRED TO FILE INFORMATIONAL RETURNS FOR FEDERAL AND STATE PURPOSES AND, IF IT HAS UBTI, FEDERAL AND STATE INCOME TAX RETURNS. MANAGEMENT HAS PERFORMED ITS EVALUATION OF TAX POSITIONS TAKEN ON ALL OPEN TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. FROM TIME TO TIME, THE ORGANIZATION MAY BE SUBJECT TO PENALTIES AND INTEREST ASSESSED BY VARIOUS TAXING AUTHORITIES, WHICH ARE CLASSIFIED AS GENERAL AND ADMINISTRATIVE EXPENSES IF THEY OCCUR. 0 LOWELL OBSERVATORY 1400 W MARS HILL RD FLAGSTAFF AZ 86001 860098918 501(C)(3) 94026 ENDOWMENT EARNINGS/GENERAL SUPPORT 1 PART I, LINE 2: THE FOUNDATION EXISTS WITH THE SOLE PURPOSE OF SUPPORTING LOWELL OBSERVATORY, THEREFORE SELECTION CRITERIA AND ELIGIBILITY REQUIREMENTS ARE NOT APPLICABLE. SUBSTANTIATION FOR THE AMOUNTS OF GRANTS ARE KEPT WITHIN LOWELL'S INTERNAL ACCOUNTING DEPARTMENT. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES CONSISTS OF SEVEN INDIVIDUALS. ONE OF THE INDIVIDUALS SHALL BE THE SOLE TRUSTEE OF THE LOWELL OBSERVATORY WHO SHALL ALWAYS BE A TRUSTEE OF THE FOUNDATION. OF THE REMAINING SIX INDIVIDUALS, TWO OF THESE INDIVIDUALS WILL BE SELECTED FOR A THREE YEAR TERM, TWO FOR A TWO YEAR TERM, AND TWO FOR A ONE YEAR TERM. THESE REMAINING SIX MEMBERS OF THE BOARD OF TRUSTEES WILL BE SELECTED BY THE SOLE TRUSTEE AND THE EXECUTIVE COMMITTEE OF THE ADVISORY BOARD OF THE LOWELL OBSERVATORY. AT THE END OF THE TERMS OF THE INITIAL MEMBERS OF THE BOARD OF TRUSTEES, NEW SUCCESSOR TRUSTEES WILL BE SELECTED FOR THREE YEAR TERMS. ANY NEW SUCCESSOR TRUSTEES WILL BE SELECTED BY NOMINATION OF THE EXECUTIVE COMMITTEE OF THE ADVISORY BOARD OF THE LOWELL OBSERVATORY AND SUBJECT TO THE APPROVAL OF A MAJORITY VOTE BY THE ADVISORY BOARD OF THE LOWELL OBSERVATORY PRESENT AT ITS ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 DRAFT WILL BE FIRST REVIEWED BY THE DEPUTY DIRECTOR FOR ADMINISTRATION (DDA) FOR THE OBSERVATORY FOR ACCURACY. ONCE IT HAS BEEN DEEMED ACCURATE BY THE DDA IT WILL BE FORWARDED TO THE LOWELL OBSERVATORY AUDIT COMMITTEE AND THE FOUNDATION BOARD OF TRUSTEES FOR THEIR REVIEW AND COMMENTS. AFTER ANY QUESTIONS AND COMMENTS HAVE BEEN ADDRESSED IT WILL BE APPROVED AND A FINAL COPY WILL BE SIGNED BY THE BOARD CHAIRMAN. FORM 990, PART VI, SECTION B, LINE 12C TO ENSURE THE FOUNDATION OPERATES IN A MANNER CONSISTENT WITH ITS CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION AND BENEFITS ARRANGEMENTS, IF ANY, ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE FOUNDATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER ITS CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION. FORM 990, PART VI, SECTION C, LINE 19 ALL OF THESE DOCUMENTS WILL BE POSTED ON THE FOUNDATION WEBSITE AND THE FORM 990 WILL BE AVAILABLE ON GUIDESTAR. LOWELL OBSERVATORY 1400 W MARS HILL ROAD FLAGSTAFF AZ 860014470 860098918 ASTRONOMICAL RESEARCH AND EDUCATION AZ 501(C)(3) LINE 7 TRUST UW OF PERCIVAL LOWELL 0 PERCIVAL LOWELL TRUST UW 1400 W MARS HILL ROAD FLAGSTAFF AZ 860014470 042007327 CHARITABLE TRUST F/B/O LOWELL OBSERVATORY AZ 501(C)(3) LINE 12B, II LOWELL OBSERVATORY 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0