BETA

EFC Europe Foundation: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
EFC Europe Foundation (EIN 98-1178339)
Tax period
2023-01-01 to 2023-12-31
Filed
2025-02-19
IRS object ID
202530509349100618
Schema version
2023v6.0
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

FieldValueIRS element (for citing)
Return2025-02-19T12:56:51-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Everest Ito Group LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1466 Foothill Blvd Suite 407AddressLine1Txt
CityLa Canada FlintridgeCityNm
State AbbreviationCAStateAbbreviationCd
ZIP91011ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN981178339EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1EFC Europe FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% MARXER & PARTNER ATTORNEYSInCareOfNm
Business Name ControlEFCEBusinessNameControlTxt
Phone4232358265PhoneNum

Foreign Address ForeignAddress

FieldValueIRS element (for citing)
Address Line1Heiligkreuz 6AddressLine1Txt
CityVaduzCityNm
CountryLSCountryCd
Foreign Postal9490ForeignPostalCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMarkus SummerPersonNm
Person TitleFoundation CouncilPersonTitleTxt
Phone4232358265PhoneNum
Signature2024-10-31SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDennis ItoPreparerPersonNm
PTINP00541120PTIN
Phone8187162701PhoneNum
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Foreign OrganizationYes (X)ForeignOrganizationInd
Foreign Org Meeting85 Pct TestYes (X)ForeignOrgMeeting85PctTestInd
Initial ReturnYes (X)InitialReturnInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$132,099,476FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$201,312DividendsRevAndExpnssAmt
Net Gain Sale Ast Rev And Expnss$15,925,432NetGainSaleAstRevAndExpnssAmt
Other Income Rev And Expnss$280,428OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$16,407,172TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Legal Fees Rev And Expnss$112,439LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$0LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm$0LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl$0LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$10,134AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$0AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$0AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss$242,753OtherProfFeesRevAndExpnssAmt
Interest Rev And Expnss$890InterestRevAndExpnssAmt
Taxes Rev And Expnss$19,743TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$39,318OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$425,277TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$425,277TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$15,981,895ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$1,208,395CashBOYAmt
Cash EOY$57,592CashEOYAmt
Cash EOYFMV$57,592CashEOYFMVAmt
Corporate Stock BOY$109,065,741CorporateStockBOYAmt
Corporate Stock EOY$130,826,905CorporateStockEOYAmt
Corporate Stock EOYFMV$130,826,905CorporateStockEOYFMVAmt
Corporate Bonds BOY$0CorporateBondsBOYAmt
Corporate Bonds EOY$0CorporateBondsEOYAmt
Invst Land Cost Or Other Basis$1,214,979InvstLandCostOrOtherBasisAmt
Land Bldg Investments BOY$1,214,979LandBldgInvestmentsBOYAmt
Land Bldg Investments EOY$1,214,979LandBldgInvestmentsEOYAmt
Land Bldg Investments EOYFMV$1,214,979LandBldgInvestmentsEOYFMVAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$0OtherAssetsEOYAmt
Total Assets BOY$111,489,115TotalAssetsBOYAmt
Total Assets EOY$132,099,476TotalAssetsEOYAmt
Total Assets EOYFMV$132,099,476TotalAssetsEOYFMVAmt
Accounts Payable BOY$101,660AccountsPayableBOYAmt
Accounts Payable EOY$152,409AccountsPayableEOYAmt
Other Liabilities BOY$0OtherLiabilitiesBOYAmt
Total Liabilities BOY$101,660TotalLiabilitiesBOYAmt
Total Liabilities EOY$152,409TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$30,012CapitalStockBOYAmt
Capital Stock EOY$30,012CapitalStockEOYAmt
Additional Paid In Capital BOY$88,634,468AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY$88,634,468AdditionalPaidInCapitalEOYAmt
Retained Earning BOY$22,664,576RetainedEarningBOYAmt
Retained Earning EOY$43,282,587RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$111,329,056TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$131,947,067TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$111,430,716TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$132,099,476TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$111,329,056TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$15,981,895ExcessRevenueOverExpensesAmt
Other Increases$5,614,966OtherIncreasesAmt
Subtotal$132,925,917SubtotalAmt
Other Decreases$978,850OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$131,947,067TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$0TaxDueAmt

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 LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Form990 PF Filed With Atty Gen0Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrfalseComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1MARXER & PARTNER ATTORNEYSBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone4232358265PhoneNum

Location Of Books Foreign Address LocationOfBooksForeignAddress

FieldValueIRS element (for citing)
Address Line1Heiligkreuz 6AddressLine1Txt
CityVaduzCityNm
CountryLSCountryCd
Foreign Postal9490ForeignPostalCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionYes (true)ForeignAccountsQuestionInd

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 PrsnYes (true)PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
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
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1ForeignAddress/AddressLine1TxtCityForeignAddress/CityNmCountryForeignAddress/CountryCdForeign PostalForeignAddress/ForeignPostalCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmtAddress Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCd
Igor Czernecki
19 ALEXANDER STREETLONDONUKW2 5NTFoundation Council0$0$0$0
Dr Markus Summer
HEILIGKREUZ 6VADUZLS9490Foundation Council0$0$0$0
Andrzej Czernecki
Foundation Council0$0$0$0900 Brickell Key Blvd APT 2602MiamiFL33131
Admintrust Services AG
STADTLE 31VADUZLS9490Foundation Council0$0$0$39,318

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Cambridge Associates LtdBusinessNameLine1Txt

Foreign Address ForeignAddress

FieldValueIRS element (for citing)
Address Line180 VICTORIA STREET CARDINAL PLACEAddressLine1Txt
CityLONDONCityNm
CountryUKCountryCd
Foreign PostalSW1E 5JLForeignPostalCd
FieldValueIRS element (for citing)
Service TypeAdvisoryServiceTypeTxt
Compensation$242,753CompensationAmt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1VARIOUS DONATIONS TO EDUCATIONAL FOUNDATIONSDescription1Txt
Expenses1$978,850Expenses1Amt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$0MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$0DistributableBeforeAdjAmt
Distributable Before Ded$0DistributableBeforeDedAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

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

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12021PriorYear1Yr
Prior Year22020PriorYear2Yr
Prior Year32019PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$0QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion24ExclusionCd
Exclusion$201,312ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion24ExclusionCd
Exclusion$15,925,432ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescOTHERDesc
Exclusion24ExclusionCd
Exclusion$280,428ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$16,407,172ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$16,407,172TotalIncomeProducingActyAmt

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

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryVARIOUS ACCOUNTING FEESCategoryTxt
Amt$10,134Amt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp

FieldValueIRS element (for citing)
PropertyREAL ESTATEPropertyDesc
Cost Or Other Basis$1,214,979CostOrOtherBasisAmt
Computation MethodLComputationMethodTxt

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

FieldValueIRS element (for citing)
IdentifierForm 990-PF Page 1 Line Item D2IdentifierTxt
Form And Line ReferenceForm 990-PF Page 1 Line Item D2FormAndLineReferenceDesc
Medium Explanation85% Test under Treas. Reg. Sec. 53.4948-1(b): The foundation received the following support as defined under IRC Section 509(d), other than IRC Section 509(d)(4), since the date of its creation from: - Sources outside the United States ........ $88,664,855 - Sources within the United States ......... NONE - In total ................................. $88,664,855 Percentage of the total support received from sources outside the United States .............. 100% Therefore, since the percentage above is at least 85% of the total support, the foundation meets the 85% test under Treas. Reg. Sec. 53.4948-1(b).MediumExplanationTxt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp

FieldValueIRS element (for citing)
BondVARIOUS BONDSBondNm
EOY Book Value$0EOYBookValueAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
INVESTMENT PORTFOLIOS$130,702,018$130,702,018
INVESTMENT ENTITIES$124,887$124,887

Investments Land Schedule2 InvestmentsLandSchedule2

Investment Land InvestmentLandGrp

FieldValueIRS element (for citing)
Category Or ItemREAL ESTATECategoryOrItemTxt
Cost Or Other Basis$1,214,979CostOrOtherBasisAmt
Book Value$1,214,979BookValueAmt
EOYFMV$1,214,979EOYFMVAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$112,439LegalFeesAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescDIVIDENDS RECEIVABLEDesc
BOY Book Value$0BOYBookValueAmt
EOY Book Value$0EOYBookValueAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescDISTRIBUTIONS FOR CHARITABLE PURPOSESDesc
Amt$978,850Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
BANK CHARGES
REIMBURSEMENT EXPENSES$39,318

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
Other income$5,122
currency gain/loss$275,306

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescFOREIGN CURRENCY ADJUSTMENTDesc
Amt$5,614,966Amt

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

FieldValueIRS element (for citing)
DescBANK LOANDesc
BOY Book Value$0BOYBookValueAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryVARIOUS PROFESSIONAL FEESCategoryTxt
Amt$242,753Amt

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationAs provided in IRC section 6651(a)(1) the penalty for late filing of a tax return shall not apply where the taxpayer can show that the failure to file timely was due to reasonable cause. We believe that the below described situation shows that the late filing was due to reasonable cause and that the penalty for late filing should not be applied. The initial e-filing submission was made prior to the extended due date of November 15, 2025. That e-filing was rejected, and the tax preparer immediately contacted the tax preparation software provider and the IRS and followed several suggestions to resolve the rejections with no success. We understand that the tax return was rejecting due to the fact that the IRS does not show this foreign entity as a tax-exempt organization within their system, so the electronic processing of Forms 990-PF and 990-T was not possible without some special handling. This identical e-filing rejection has been experienced for the past several years and each time the record was manually modified so that the e-filing could be completed. The taxpayer was told that the problem would be resolved for the 2023 tax year filing, but apparently the issue was not resolved. The last conversation with the IRS in late December indicated that the IRS "tax law group" would need to speak with a direct representative of the foreign foundation. Due to the holiday season and the Southern California fires which on January 8, 2025, destroyed the home of the tax representative on the client's Power of Attorney, a follow-up call was not made until February 11, 2025. Finally at that date, the matter was referred to the e-file help desk and resolution received on February 19, 2025. For the facts and circumstances described above, we believe that the late filing was due to reasonable cause and that the penalty for late filing should not be assessed.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryVAT TAXESCategoryTxt

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