The Drake Foundation: Form 990PF, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- The Drake Foundation (EIN 62-1684643)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2017-11-14
- IRS object ID
- 201713189349102846
- Schema version
- 2015v3.0
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-11-14T13:32:42-06:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 454110923 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELBROCCO & ASSOCIATES PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4735 SPOTTSWOOD SUITE 201 | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38117 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 621684643 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE DRAKE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | DRAK | BusinessNameControlTxt |
| Phone | 9012215220 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 482 HALLE PARK DRIVE SUITE 101 | AddressLine1Txt |
| City | COLLIERVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38017 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DARIN DRAKE | PersonNm |
| Person Title | SECRETARY/BOD | PersonTitleTxt |
| Phone | 9012215220 | PhoneNum |
| Signature | 2017-11-13 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | PETER F VOEHRINGER | PreparerPersonNm |
| PTIN | P00846402 | PTIN |
| Phone | 9016819272 | PhoneNum |
| Preparation | 2017-11-13 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $567,120 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $206,619 | ContriRcvdRevAndExpnssAmt |
| Interest On Sav Rev And Expnss | $5,100 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $5,100 | InterestOnSavNetInvstIncmAmt |
| Total Rev And Expnss | $211,719 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $5,100 | TotalNetInvstIncmAmt |
| Other Expenses Rev And Expnss | $7 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $7 | OtherExpensesNetInvstIncmAmt |
| Tot Opr Expenses Rev And Expnss | $7 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $7 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $202,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $202,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $202,007 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $7 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $202,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $9,712 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $5,093 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $557,408 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $567,120 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $567,120 | SavAndTempCashInvstEOYFMVAmt |
| Total Assets BOY | $557,408 | TotalAssetsBOYAmt |
| Total Assets EOY | $567,120 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $567,120 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
| Retained Earning BOY | $557,408 | RetainedEarningBOYAmt |
| Retained Earning EOY | $567,120 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $557,408 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $567,120 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $557,408 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $567,120 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $557,408 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $9,712 | ExcessRevenueOverExpensesAmt |
| Subtotal | $567,120 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $567,120 | TotNetAstOrFundBalancesEOYAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $251,000 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $491,356 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.510831 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $305,652 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $477,871 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.639612 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $336,600 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $498,021 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.675875 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $76,000 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $376,927 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.201631 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $305,800 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $317,031 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.964574 | DistributionYr5Rt |
| Total Distribution | 2.992523 | TotalDistributionRt |
| Average Distribution | 0.598505 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $553,830 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $331,470 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $51 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $331,521 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $202,000 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $102 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $102 | SubtotalAmt |
| Tax Based On Investment Income | $102 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $102 | TaxDueAmt |
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 | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | TN | 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 | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DARIN DRAKE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9012215220 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 482 HALLE PARK DRIVE SUITE 101 | AddressLine1Txt |
| City | COLLIERVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38017 | 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 | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DARIN DRAKE | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 482 HALLE PARK DRIVE SUITE 101 | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | SECRETARY/BO | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 5.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Employee Benefit Program | $0 | EmployeeBenefitProgramAmt |
| Expense Account Other Allwnc | $0 | ExpenseAccountOtherAllwncAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $562,264 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $562,264 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $562,264 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $8,434 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $553,830 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $27,692 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $27,692 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $102 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $102 | TotalTaxAmt |
| Distributable Before Adj | $27,590 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $27,590 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $27,590 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $202,000 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $202,000 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $202,000 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $27,590 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr3 | $311,826 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $281,838 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $226,492 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $820,156 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $202,000 | QualifyingDistributionsAmt |
| Applied To Current Year | $27,590 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $174,410 | RemainingDistriFromCorpusAmt |
| Total Corpus | $994,566 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $994,566 | ExcessDistriCyovToNextYrAmt |
| Excess From Year3 | $311,826 | ExcessFromYear3Amt |
| Excess From Year2 | $281,838 | ExcessFromYear2Amt |
| Excess From Year1 | $226,492 | ExcessFromYear1Amt |
| Excess From Current Year | $174,410 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
Application Submission Info ApplicationSubmissionInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | DARIN DRAKE | RecipientPersonNm |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 482 HALLE PARK DRIVE SUITE 101 | AddressLine1Txt |
| City | COLLIERVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Phone | 9012211524 | RecipientPhoneNum |
| Form And Info And Materials | N/A | FormAndInfoAndMaterialsTxt |
| Submission Deadlines | N/A | SubmissionDeadlinesTxt |
| Restrictions On Awards | N/A | RestrictionsOnAwardsTxt |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| PASTORAL LEADERSHIP INSTITUTE | ||||||
| PO BOX 972 | WHEATON | IL | 601870972 | NONE | FURTHER EXEMPT PURPOSE | $200,000 |
| HEIFER INTERNATIONAL | ||||||
| 1 WORLD AVENUE | LITTLE ROCK | AR | 72202 | NONE | FURTHER EXEMPT PURPOSE | $2,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $202,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 2 | ExclusionCd |
| Exclusion | $5,100 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $5,100 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $5,100 | 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 |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DRAKE INDUSTRIES LLC | BusinessNameLine1Txt |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 482 HALLE PARK DRIVE SUITE 101 | AddressLine1Txt |
| City | COLLIERVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 380177089 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | $206,619 | TotalContributionsAmt |
| Person Contribution | Yes (X) | PersonContributionInd |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| EXPENSES | ||
| BANK CHARGES | $7 | $7 |
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