BETA

BETSY ROSS FOUNDATION INC: Form 990PF, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
BETSY ROSS FOUNDATION INC (EIN 62-1490795)
Tax period
2015-12-01 to 2016-11-30
Filed
2017-03-13
IRS object ID
201710729349100516
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

FieldValueIRS element (for citing)
Return2017-03-13T14:02:17-05:00ReturnTs
Tax Period End2016-11-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN721396621PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CARR RIGGS & INGRAM LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line15200 MARYLAND WAY SUITE 300AddressLine1Txt
CityBRENTWOODCityNm
State AbbreviationTNStateAbbreviationCd
ZIP37027ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2015-12-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN621490795EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BETSY ROSS FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlBETSBusinessNameControlTxt
Phone7316426113PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O ALLEGRO FINE FOODS INCAddressLine1Txt
CityPARISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP382424164ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJULIE WILLIAMSPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone7316426113PhoneNum
Signature2017-03-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJOHN V RAYBURNPreparerPersonNm
PTINP00429464PTIN
Phone6156617878PhoneNum
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,334,967FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$89,317OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$89,317OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$89,317TotalRevAndExpnssAmt
Total Net Invst Incm$89,317TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$9,792CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Accounting Fees Rev And Expnss$2,500AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$0AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$0AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$1,490TaxesRevAndExpnssAmt
Taxes Net Invst Incm$0TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$0TaxesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$13,782TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$85,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$85,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$98,782TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$85,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$9,465ExcessRevenueOverExpensesAmt
Net Investment Income$89,317NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$19,872CashBOYAmt
Cash EOY$10,407CashEOYAmt
Cash EOYFMV$10,407CashEOYFMVAmt
Other Investments BOY$2,324,560OtherInvestmentsBOYAmt
Other Investments EOY$2,324,560OtherInvestmentsEOYAmt
Other Investments EOYFMV$2,324,560OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,344,432TotalAssetsBOYAmt
Total Assets EOY$2,334,967TotalAssetsEOYAmt
Total Assets EOYFMV$2,334,967TotalAssetsEOYFMVAmt
Accounts Payable BOY$698AccountsPayableBOYAmt
Accounts Payable EOY$698AccountsPayableEOYAmt
Total Liabilities BOY$698TotalLiabilitiesBOYAmt
Total Liabilities EOY$698TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$2,343,734UnrestrictedBOYAmt
Unrestricted EOY$2,334,269UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$2,343,734TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,334,269TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,344,432TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,334,967TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,343,734TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$9,465ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$2,334,269SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$2,334,269TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 Tax0LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$86,000AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$1,579,095NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.054462DistributionYr1Rt
Adjusted Qlfy Distri Yr2$100,500AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$1,602,225NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.062725DistributionYr2Rt
Adjusted Qlfy Distri Yr3$86,000AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,607,044NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.053514DistributionYr3Rt
Adjusted Qlfy Distri Yr4$20,350AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,561,192NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.013035DistributionYr4Rt
Adjusted Qlfy Distri Yr5$10,350AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$2,205NetVlNoncharitableAssetsYr5Amt
Distribution Yr54.693878DistributionYr5Rt
Total Distribution4.877614TotalDistributionRt
Average Distribution0.975523AverageDistributionRt
Net Vl Noncharitable Assets$2,314,662NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$2,258,006AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$893NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$2,258,899AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$85,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,786InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$1,786SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$1,786TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$1,716EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$1,716TotalPaymentsAndCreditsAmt
Tax Due$70TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateTNOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial Contributors0NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1JULIE WILLIAMSBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7316426113PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11595 HIGHWAY 218 BYPASSAddressLine1Txt
CityPARISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38242ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JULIE WILLIAMS
1165 WILDCREEK DRIVECOLLIERVILLETN38017PRESIDENT2.50$3,792$0$0
JOHN FUQUA
1595 HWY 218 BYPASSPARISTN38242DIRECTOR0.50$0$0$0
MARY LOU REED
PO BOX 667WHITE BLUFFTN37187SECRETARY0.50$3,000$0$0
RUTH CONROY
151 FLAT RIDGE ROADGOODLETTSVILLETN37072TREASURER0.50$3,000$0$0
THOAMS HARRISON
1595 HWY 218 BYPASSPARISTN38242DIRECTOR0.50$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1FUNDS WERE PROVIDED FOR SCHOLARSHIPSDescription1Txt
Expenses1$25,000Expenses1Amt
Description2FUNDS WERE PROVIDED FOR SCHOLARSHIPSDescription2Txt
Expenses2$22,000Expenses2Amt
Description3FUNDS WERE PROVIDED TO SUPPORT LOCAL PUBLIC HIGH SCHOOL EDUCATIONDescription3Txt
Expenses3$6,000Expenses3Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt
Expenses1$0Expenses1Amt
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$25,351AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$2,324,560FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$2,349,911TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$2,349,911AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$35,249CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,314,662NetVlNoncharitableAssetsAmt
Minimum Investment Return$115,733MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$115,733MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,786TaxBasedOnInvestmentIncomeAmt
Total Tax$1,786TotalTaxAmt
Distributable Before Adj$113,947DistributableBeforeAdjAmt
Recoveries Qualfied Distri$0RecoveriesQualfiedDistriAmt
Distributable Before Ded$113,947DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$113,947DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$85,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$85,000QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$85,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$113,947DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$10,240ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr3$7,507ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$22,329ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$8,759ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$48,835TotalExcessDistributionCyovAmt
Qualifying Distributions$85,000QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$85,000AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$28,947ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$28,947ExcessDistributionCyovAppCYAmt
Total Corpus$19,888TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$19,888ExcessDistriCyovToNextYrAmt
Excess From Year2$11,129ExcessFromYear2Amt
Excess From Year1$8,759ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonJULIE WILLIAMSRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line11595 HWY 218 BYPASSAddressLine1Txt
CityPARISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38242ZIPCd
FieldValueIRS element (for citing)
Recipient Phone7316426113RecipientPhoneNum
Form And Info And MaterialsAPPLICATIONS SHOULD BE SUBMITTED EITHER ORALLY OR IN WRITINGFormAndInfoAndMaterialsTxt
Submission DeadlinesN/ASubmissionDeadlinesTxt
Restrictions On AwardsN/ARestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (13 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
MURRAY STATE UNIVERSITY
200 HERITAGE HALLMURRAYKY420713441NONEPUBLIC UNIVERSITYSCHOLARSHIPS$22,000
UNIVERSITY OF TENNESSEE
527 ANDY HOLT TOWERKNOXVILLETN37996NONEPUBLIC UNIVERSITYDONATION TO UNIVERSITY OF TENESSEE$25,000
DAMASCUS ROAD
P O BOX 1075 CURTIS STREETPARISTN38242NONE501 (C) 3HALF-WAY HOUSE SUPPORT PARIS, TN$2,500
FRIENDS OF JOHNSONVILLE STATE HISTORIC PARK
90 NELL BEARD ROADNEW JOHNSONVILLETN37134NONEGOVSTATE PARK PRESERVATION$5,000
MILITARY WORKING DOG TEAM SUPPORT ASSOCIATION
PO BOX 5864CANTONGA30114NONE501 (C) 3TO SUPPORT MILITARY DOGS AND THEIR HANDLERS$5,000
YOUTH VILLAGES
3320 BROTHER BOULEVARDMEMPHISTN38133NONE501 (C) 3SUPPORT FOR VULNERABLE CHILDRENS' PROGRAMS$2,500
REELFOOT LAKE STATE PARK
2595 STATE ROUTE 21ETIPTONVILLETN38079NONEGOVINTERPRETIVE EDUCATION OPPORTUNITIES SUPPORT TN BIRD OF PREY/EAGLES$1,000
SHEPARD CENTER FOUNDATION
2020 PEACHTREE ROADATLANTAGA30309NONE501 (C) 3MEDICAL RESEARCH$5,000
FRIENDS OF LAKE BARKLEY STATE PARK
P O BOX 1505CADIZKY42211NONEGOV2015 BIRDS OF PREY DONATION$1,000
HENRY COUNTY HIGH SCHOOL
315 S WILSON STREETPARISTN38242NONEPUBLIC HIGH SCHOOLSUPPORT PUBLIC HIGH SCHOOL$6,000
EIGHT DAYS OF HOPE
PO BOX 3208TUPELOMS38803NONE501 (C) 3VOLUNTEER ORGANIZATION THAT REBUILDS HOMES$5,000
THISTLE FARMS
5122 CHARLOTTE PARKNASHVILLETN37209NONE501 (C) 3SUPPORT FOR A WOMENS HELP GROUP$2,500
NEARTOWN SOBER LIVING
1075 STATE ROUTE 121 NMURRAYKY42071NONEKENTUCKY, LLCSUPPORT TO HELP RECOVERING ALCOHOLICS$2,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$85,000TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Other Investment Incm Part VII OtherInvestmentIncmPartVIIGrp

FieldValueIRS element (for citing)
Exclusion15ExclusionCd
Exclusion$89,317ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$89,317ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$89,317TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTINGCategoryTxt
Amt$2,500Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

FieldValueIRS element (for citing)
Category Or ItemMARINADE ROYALTY AGREEMENTCategoryOrItemTxt
Listed At Cost Or FMVFMVListedAtCostOrFMVCd
Book Value$2,324,560BookValueAmt
EOYFMV$2,324,560EOYFMVAmt

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescALLEGRO FINE FOODSDesc
Revenue And Expenses Per Books$89,317RevenueAndExpensesPerBooksAmt
Net Investment Income$89,317NetInvestmentIncomeAmt
Adjusted Net Income$89,317AdjustedNetIncomeAmt

Reduction Explanation Statement ReductionExplanationStatement

FieldValueIRS element (for citing)
Short ExplanationTHE FOUNDATION HAS A ROYALTY AGREEMENT FROM THE ESTATE OF MR. DAVID WILCOX. THE AGREEMENT IS WITH ALLEGRO FINE FOODS,INC. AND CALLS FOR THE PAYMENT OF A ROYALTY TO THE FOUNDATION FOR THE USE OF PRODUCT FORMULAS DEVELOPED BY MR. WILCOX DURING HIS LIFETIME. THE ROYALTY IS BASED ON SALES OF PRODUCTS BASED ON THESE FORMULAS. THE AGREEMENT CALLS FOR A MINIMUM ANNUAL PAYMENT OF $25,000 AND A MAXIMUM ANNUAL PAYMENT OF $100,000. THE INITIAL VALUATION OF THE ROYALTY AGREEMENT WAS BASED ON THE MAXIMUM ANNUAL PAYMENT OF $100,000 USING A LONG TERM INTEREST RATE OF 3.55%. THE FAIR MARKET VALUE IS REVISED FOR ACTUAL ROYALTIES RECEIVED DURING THE CURRENT YEAR AND A LONG TERM INTEREST RATE OF 5.00%.ShortExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryINVESTMENT EXCISE TAXCategoryTxt
Amt$1,490Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.