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
- 2018-01-01 to 2018-07-06
- Filed
- 2018-08-09
- IRS object ID
- 201842219349100504
- 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
- Liquidation Explanation Stmt
- Legal Fees Schedule
- Other Decreases Schedule
- Other Expenses Schedule
- Other Liabilities Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-08-09T09:39:32-05:00 | ReturnTs |
| Tax Period End | 2018-07-06 | 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 | 2018-01-01 | 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 22 | 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 | 2018-07-02 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JACOB COOK | PreparerPersonNm |
| PTIN | P01240455 | 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) |
|---|---|---|
| Final Return | Yes (X) | FinalReturnInd |
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $0 | 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 | $17,765 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $17,765 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $0 | DividendsAdjNetIncmAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $17,765 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $17,765 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $0 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Adj Net Incm | $0 | CompOfcrDirTrstAdjNetIncmAmt |
| Legal Fees Rev And Expnss | $26,950 | 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 | $39,312 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $0 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Adj Net Incm | $0 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $0 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $907 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $0 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $0 | TaxesAdjNetIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Occupancy Rev And Expnss | $8,885 | OccupancyRevAndExpnssAmt |
| Occupancy Adj Net Incm | $0 | OccupancyAdjNetIncmAmt |
| Occupancy Dsbrs Chrtbl | $8,885 | OccupancyDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $881 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Dsbrs Chrtbl | $881 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $76,935 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $9,766 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $76,935 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $9,766 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$59,170 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $17,765 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $615,686 | CashBOYAmt |
| Sav And Temp Cash Invst BOY | $110,156 | SavAndTempCashInvstBOYAmt |
| Acct Rcvbl BOY | $0 | AcctRcvblBOYAmt |
| Prepaid Expenses BOY | $8,885 | PrepaidExpensesBOYAmt |
| US Government Obligations BOY | $0 | USGovernmentObligationsBOYAmt |
| Corporate Stock BOY | $0 | CorporateStockBOYAmt |
| Other Assets BOY | $174,511 | OtherAssetsBOYAmt |
| Total Assets BOY | $909,238 | TotalAssetsBOYAmt |
| Total Assets EOY | $0 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $0 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $2,734 | AccountsPayableBOYAmt |
| Other Liabilities BOY | $2,076 | OtherLiabilitiesBOYAmt |
| Total Liabilities BOY | $4,810 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
| Unrestricted BOY | $904,428 | UnrestrictedBOYAmt |
| Unrestricted EOY | $0 | UnrestrictedEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $904,428 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $0 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $909,238 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $0 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $904,428 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$59,170 | ExcessRevenueOverExpensesAmt |
| Subtotal | $845,258 | SubtotalAmt |
| Other Decreases | $845,258 | OtherDecreasesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cap Gains Loss Tx Invst Incm Detail | CapGainsLossTxInvstIncmDetail |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $10,861,015 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $190,709,658 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.056951 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $9,735,816 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $184,469,936 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.052777 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $9,682,313 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $184,481,515 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.052484 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $9,710,262 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $189,643,235 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.051203 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $8,933,255 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $167,746,088 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.053255 | DistributionYr5Rt |
| Total Distribution | 0.26667 | TotalDistributionRt |
| Average Distribution | 0.053334 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $270,163 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $14,409 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $178 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $14,587 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $9,766 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $355 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $355 | SubtotalAmt |
| Tax Based On Investment Income | $355 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $355 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $355 | TotalPaymentsAndCreditsAmt |
| Applied To ES Tax | $0 | AppliedToESTaxAmt |
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 | false | UnrelatedBusIncmOverLimitInd |
| 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 (3 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 WALLACE DOUGLAS | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | VP & TREASURER/DIRECTOR | 0.0 | $0 | $0 | $0 |
| JOAN D MURRAY | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | SECRETARY/DIRECTOR | 0.0 | $0 | $0 | $0 |
| ANN DOUGLAS CORNELL | ||||||||
| 4910 MASSACHUSETTS AVE NW | WASHINGTON | DC | 20016 | PRESIDENT/DIRECTOR | 0.0 | $0 | $0 | $0 |
| 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 | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $274,277 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $274,277 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $274,277 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $4,114 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $270,163 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $13,508 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $13,508 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $355 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $355 | TotalTaxAmt |
| Distributable Before Adj | $13,153 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $13,153 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $13,153 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $9,766 | 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 | $9,766 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $9,766 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $13,153 | 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 Yr5 | $789,648 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $336,610 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $610,407 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $590,600 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $1,579,948 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $3,907,213 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $9,766 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Applied To Current Year | $9,766 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $0 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $3,387 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $3,387 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $3,903,826 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $786,261 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $3,117,565 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $336,610 | ExcessFromYear4Amt |
| Excess From Year3 | $610,407 | ExcessFromYear3Amt |
| Excess From Year2 | $590,600 | ExcessFromYear2Amt |
| Excess From Year1 | $1,579,948 | ExcessFromYear1Amt |
| 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 |
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 | $17,765 | 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 | |
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $17,765 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $17,765 | 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 | $39,312 | Amt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Depreciation Schedule DepreciationSchedule
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 IRS 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 (E.G., PAY CREDITORS, ASSIGN LEASES, PREPARE FINAL TAX RETURNS, ETC.). DURING 2018, WGF PAID ALL CREDITORS AND DISTRIBUTED THE REMAINING ASSETS TO WGF II AND FARVUE. WGF THEN DISSOLVED UNDER STATE LAW ON JULY 6, 2018. A CERTIFIED COPY OF THE CERTIFICATE OF DISSOLUTION ISSUED BY THE NEW YORK SECRETARY OF STATE IS ATTACHED TO THIS RETURN. WGF TERMINATED ITS PRIVATE FOUNDATION STATUS UNDER IRC SECTION 509(A)(1) JULY 6, 2018 WITH NO ASSETS. AS SUCH, NO TERMINATION TAX IS DUE. THE ALLOCATION OF THE ORIGINAL TAX ATTRIBUTES HAVE BEEN ALLOCATED BASED ON THE AGREED ASSET ALLOCATION PERCENTAGES. ADJUSTED QUALIFYING DISTRIBUTIONS TOTAL WGF II FARVUE YEAR ENDED DECEMBER 31, 2014 9,710,262 6,473,508 3,236,754 YEAR ENDED DECEMBER 31, 2015 9,682,313 6,454,875 3,227,438 YEAR ENDED DECEMBER 31, 2016 9,735,816 6,490,544 3,245,272 YEAR ENDED DECEMBER 31, 2017 10,861,015 7,240,677 3,620,338 YEAR ENDED JULY 6, 2018 9,766 6,511 3,255 TOTAL 39,999,172 26,666,115 13,333,057 NET VALUE NONCHARITABLE-USE ASSETS TOTAL WGF II FARVUE YEAR ENDED DECEMBER 31, 2014 189,643,235 126,428,823 63,214,412 YEAR ENDED DECEMBER 31, 2015 184,481,515 122,987,677 61,493,838 YEAR ENDED DECEMBER 31, 2016 184,469,936 122,979,957 61,489,979 YEAR ENDED DECEMBER 31, 2017 190,709,658 127,139,772 63,569,886 YEAR ENDED JULY 6, 2018 270,163 180,109 90,054 TOTAL 749,574,507 499,716,338 249,858,169 EXCESS DISTRIBUTIONS FROM: TOTAL WGF II FARVUE YEAR ENDED DECEMBER 31, 2014 336,610 224,407 112,203 YEAR ENDED DECEMBER 31, 2015 610,407 406,938 203,469 YEAR ENDED DECEMBER 31, 2016 590,600 393,733 196,867 YEAR ENDED DECEMBER 31, 2017 1,579,948 1,053,299 526,649 YEAR ENDED JULY 6, 2018 0 0 0 TOTAL 3,117,565 2,078,377 1,039,188 | ExplanationTxt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $26,950 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail (2 entries)
| DescDesc | AmtAmt |
|---|---|
| TRANSFER TO FARVUE FOUNDATION | $239,804 |
| TRANSFER TO WALLACE II FOUNDATION | $605,454 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|
| NY FILING FEE | $100 | $100 |
| INSURANCE | $209 | $209 |
| OFFICE EXPENSES | $572 | $572 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ACCRUED COMMISSION | Desc |
| BOY Book Value | $2,076 | BOYBookValueAmt |