2018-08-09T09:39:32-05:00 2018-07-06 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990PF 2018-01-01 136162575 WALLACE GENETIC FOUNDATION INC % DAVID DOUGLAS WALL 2029662932 4910 MASSACHUSETTS AVE NW Suite 22 WASHINGTON DC 20016 DAVID DOUGLAS Director 2029662932 2018-07-02 true JACOB COOK P01240455 7038930600 2017 2022-09-23 18:48:47Z X X 0 X 0 X 17765 17765 0 0 17765 17765 0 0 0 26950 0 0 0 39312 0 0 0 0 0 907 0 0 0 8885 0 8885 881 881 76935 0 0 9766 0 0 76935 0 0 9766 -59170 17765 0 615686 110156 0 8885 0 0 174511 909238 0 0 2734 2076 4810 0 X 904428 0 904428 0 909238 0 904428 -59170 845258 845258 false 10861015 190709658 0.056951 9735816 184469936 0.052777 9682313 184481515 0.052484 9710262 189643235 0.051203 8933255 167746088 0.053255 0.26667 0.053334 270163 14409 178 14587 9766 355 355 355 355 355 0 false false false false false false true true true DC NY true false false false false true WWW.WALLACEGENETIC.ORG DAVID DOUGLAS 2029662932 4910 MASSACHUSETTS AVE NW STE 221 WASHINGTON DC 20016 false false false false true false false false false false false false false false false false false false false false 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 0 274277 0 274277 0 274277 4114 270163 13508 13508 355 355 13153 13153 13153 9766 0 0 0 0 9766 9766 13153 0 2015 2014 2013 0 789648 336610 610407 590600 1579948 3907213 9766 0 9766 0 3387 3387 3903826 0 0 0 0 786261 3117565 336610 610407 590600 1579948 NA NA X 14 17765 17765 17765 false false false false false false false false false false ACCOUNTING FEES 39312 0 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 LEGAL FEES 26950 0 0 TRANSFER TO FARVUE FOUNDATION 239804 TRANSFER TO WALLACE II FOUNDATION 605454 NY FILING FEE 100 100 INSURANCE 209 209 OFFICE EXPENSES 572 572 ACCRUED COMMISSION 2076