RICHARD DESICH FOUNDATION: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
RICHARD DESICH FOUNDATION (EIN 26-4308958)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-05-05
IRS object ID
201741259349101339
Schema version
2016v3.0
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)
Return2017-05-05T14:27:56-05:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1Txt
CityLake SuccessCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2016-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN264308958EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Richard Desich FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlRICHBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRICHARD DESICHPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2017-05-01SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address24.187.244.114IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id06391520171255000110FederalOriginalSubmissionId
Federal Original Submission Id2017-05-05FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdBC971FC33BAF52379132A0473611089A0DAEC697AtSubmissionCreationDeviceId
At Submission Filing Device Id0B775BB9C0E0C9DA339247063A24C50179569C8EAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,551,942FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,283,107ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$163InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$163InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,283,270TotalRevAndExpnssAmt
Total Net Invst Incm$163TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Expenses Rev And Expnss$403,368OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,025OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$403,368TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,025TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$608,200ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$608,200ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,011,568TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$613,225TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$271,702ExcessRevenueOverExpensesAmt
Net Investment Income$163NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$8,546SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$3,683SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$3,683SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$2,434,810OtherInvestmentsBOYAmt
Other Investments EOY$2,711,375OtherInvestmentsEOYAmt
Other Investments EOYFMV$2,548,259OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,443,356TotalAssetsBOYAmt
Total Assets EOY$2,715,058TotalAssetsEOYAmt
Total Assets EOYFMV$2,551,942TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$2,443,356RetainedEarningBOYAmt
Retained Earning EOY$2,715,058RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,443,356TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,715,058TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,443,356TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,715,058TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,443,356TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$271,702ExcessRevenueOverExpensesAmt
Subtotal$2,715,058SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,715,058TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$746,824AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$2,221,262NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.336216DistributionYr1Rt
Adjusted Qlfy Distri Yr2$505,025AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$1,311,115NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.385187DistributionYr2Rt
Adjusted Qlfy Distri Yr3$505,684AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,634,793NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.309326DistributionYr3Rt
Adjusted Qlfy Distri Yr4$506,678AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,390,352NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.364424DistributionYr4Rt
Adjusted Qlfy Distri Yr5$504,093AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$967,479NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.521038DistributionYr5Rt
Total Distribution1.916191TotalDistributionRt
Average Distribution0.383238AverageDistributionRt
Net Vl Noncharitable Assets$2,520,347NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$965,893AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$2NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$965,895AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$613,225QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3InvestmentIncomeExciseTaxAmt
Subtotal$3SubtotalAmt
Tax Based On Investment Income$3TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$96EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$96TotalPaymentsAndCreditsAmt
Overpayment$93OverpaymentAmt
Applied To ES Tax$93AppliedToESTaxAmt

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 LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcYes (true)OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

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 PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
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

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonRichard DesichPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
TitlePres / Dir / SecTitleTxt
Average Hrs Per Wk Devoted To Pos1.0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$10,469AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$2,548,259FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$2,558,728TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$2,558,728AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$38,381CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,520,347NetVlNoncharitableAssetsAmt
Minimum Investment Return$126,017MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$126,017MinimumInvestmentReturnAmt
Tax Based On Investment Income$3TaxBasedOnInvestmentIncomeAmt
Total Tax$3TotalTaxAmt
Distributable Before Adj$126,014DistributableBeforeAdjAmt
Distributable Before Ded$126,014DistributableBeforeDedAmt
Distributable As Adjusted$126,014DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$613,225ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$613,225QualifyingDistributionsAmt
Adjusted Qualifying Distri$613,225AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$126,014DistributableAsAdjustedAmt
Prior Year12014PriorYear1Yr
Prior Year22013PriorYear2Yr
Prior Year32012PriorYear3Yr
Excess Distribution Cyov Yr5$448,789ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$437,167ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$423,945ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$439,471ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$635,763ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$2,385,135TotalExcessDistributionCyovAmt
Qualifying Distributions$613,225QualifyingDistributionsAmt
Applied To Current Year$126,014AppliedToCurrentYearAmt
Remaining Distri From Corpus$487,211RemainingDistriFromCorpusAmt
Total Corpus$2,872,346TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$448,789ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$2,423,557ExcessDistriCyovToNextYrAmt
Excess From Year4$437,167ExcessFromYear4Amt
Excess From Year3$423,945ExcessFromYear3Amt
Excess From Year2$439,471ExcessFromYear2Amt
Excess From Year1$635,763ExcessFromYear1Amt
Excess From Current Year$487,211ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION
1005 ABBE RD NELYRIAOH44035N/ASO III FILegacy of Leadership Program$50,000
LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION
1005 ABBE RD NELYRIAOH44035N/ASO III FIWave of Knowledge Program$58,200
LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION
1005 ABBE RD NELYRIAOH44035N/ASO III FIfor the Capital Campaign and various Programs as outlined in the foundation's pledge agreement$500,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$608,200TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$163ExclusionAmt
FieldValueIRS element (for citing)
Div And Int From Sec Part VIIDivAndIntFromSecPartVIIGrp
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$163ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$163TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonDesich RichardContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1260 Dorado Beach Drive Apt 3632AddressLine1Txt
CityDoradoCityNm
State AbbreviationPRStateAbbreviationCd
ZIP00646ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,283,107TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

FieldValueIRS element (for citing)
Category Or ItemPACIFIC LIFE-POLICY VF51918560CategoryOrItemTxt
Book Value$2,711,375BookValueAmt
EOYFMV$2,548,259EOYFMVAmt

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationThis statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2016, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $608,200. This amount represents over 25% of the Foundation's net assets of $2,230,399 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2016. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XV, Line 3a; each such grant was made solely for the charitable purpose specified therein.ExplanationTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$5,000$5,000
Life Insurance Premium$398,343
State or Local Filing Fees$25$25

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