DIAMONDS DIRECT FOUNDATION: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
DIAMONDS DIRECT FOUNDATION (EIN 20-1313356)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-09-29
IRS object ID
201742729349100009
Schema version
2016v3.1
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)
Return2017-09-29T12:29:49-05:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BDO USA LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1615 South College St Suite 1200AddressLine1Txt
CityCharlotteCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28202ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2016-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN201313356EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Diamonds Direct FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% KELLY LOInCareOfNm
Business Name ControlDIAMBusinessNameControlTxt
Phone7045329041PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14521 Sharon Road Suite 101AddressLine1Txt
CityCharlotteCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28211ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonITAY BERGERPersonNm
Person TitleVice PresidentPersonTitleTxt
Phone7045329041PhoneNum
Signature2017-07-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRoland E KimelPreparerPersonNm
PTINP00047070PTIN
Phone7048874236PhoneNum
Preparation2017-07-07PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address162.249.80.2IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id56906020172725000000FederalOriginalSubmissionId
Federal Original Submission Id2017-09-29FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdBF2F7C509CB8B42D92C78D4BFB37B4E0531B3F87AtSubmissionCreationDeviceId
At Submission Filing Device Id699E7B81271F4F2DE31D46B3D76CF95C7442B5CFAtSubmissionFilingDeviceId
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$1,265FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$76,365ContriRcvdRevAndExpnssAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$76,365TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$75,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$75,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$75,500TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$75,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$865ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$300CashBOYAmt
Cash EOY$1,265CashEOYAmt
Cash EOYFMV$1,265CashEOYFMVAmt
Total Assets BOY$300TotalAssetsBOYAmt
Total Assets EOY$1,265TotalAssetsEOYAmt
Total Assets EOYFMV$1,265TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$300RetainedEarningBOYAmt
Retained Earning EOY$1,265RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$300TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,265TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$300TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,265TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$300TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$865ExcessRevenueOverExpensesAmt
Other Increases$100OtherIncreasesAmt
Subtotal$1,265SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,265TotNetAstOrFundBalancesEOYAmt
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$76,600AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$295NetVlNoncharitableAssetsYr1Amt
Distribution Yr1259.661017DistributionYr1Rt
Adjusted Qlfy Distri Yr2$66,150AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$295NetVlNoncharitableAssetsYr2Amt
Distribution Yr2224.237288DistributionYr2Rt
Adjusted Qlfy Distri Yr3$65,150AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$345NetVlNoncharitableAssetsYr3Amt
Distribution Yr3188.84058DistributionYr3Rt
Adjusted Qlfy Distri Yr4$70,446AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$148NetVlNoncharitableAssetsYr4Amt
Distribution Yr4475.986486DistributionYr4Rt
Adjusted Qlfy Distri Yr5$60,000AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$208NetVlNoncharitableAssetsYr5Amt
Distribution Yr5288.461538DistributionYr5Rt
Total Distribution1437.18691TotalDistributionRt
Average Distribution287.437382AverageDistributionRt
Net Vl Noncharitable Assets$820NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$235,699AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$0NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$235,699AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$75,500QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
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 LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNCOrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen0Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNoneWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1KELLY LOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7045329041PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14521 SHARON ROAD STE 101AddressLine1Txt
CityCHARLOTTECityNm
State AbbreviationNCStateAbbreviationCd
ZIP28211ZIPCd
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
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Alon Arabov
4521 Sharon Road Suite 101CharlotteNC28211President/Director0.1$0$0$0
Itay Berger
4521 Sharon Road Suite 101CharlotteNC28211VP/Sec/Tre/Director0.25$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1TO PROVIDE SUPPORT TO LOCAL NONPROFIT ORGANIZATIONS, WITH SPECIAL EMPHASIS ON WOMEN'S AND CHILDREN'S PHILANTHROPIES.Description1Txt
Expenses1$0Expenses1Amt
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$832AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$832TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$832AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$12CashDeemedCharitableAmt
Net Vl Noncharitable Assets$820NetVlNoncharitableAssetsAmt
Minimum Investment Return$41MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$75,500ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$75,500QualifyingDistributionsAmt
Adjusted Qualifying Distri$75,500AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$75,500DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12014PriorYear1Yr
Prior Year22013PriorYear2Yr
Prior Year32012PriorYear3Yr
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$75,500QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$75,500AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Year1$0Year1Amt
Total$0TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Year1$0Year1Amt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$75,500CurrentYearAmt
Year1$76,600Year1Amt
Year2$66,150Year2Amt
Year3$65,150Year3Amt
Total$283,400TotalAmt
FieldValueIRS element (for citing)
Qualifying Distri Not Used DrtQualifyingDistriNotUsedDrtGrp

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$75,500CurrentYearAmt
Year1$76,600Year1Amt
Year2$66,150Year2Amt
Year3$65,150Year3Amt
Total$283,400TotalAmt
FieldValueIRS element (for citing)
Total AssetsTotalAssetsGrp

Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$27CurrentYearAmt
Year1$10Year1Amt
Year2$10Year2Amt
Year3$11Year3Amt
Total$58TotalAmt

Total Support TotalSupportGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Public Support Type PublicSupportType

FieldValueIRS element (for citing)
Total$0TotalAmt

Largest Support From EO LargestSupportFromEOGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Gross Investment Income GrossInvestmentIncomeGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Lubavitch
6619 Sardis RoadCharlotteNC28270PCEducation$60,000
American Heart Association
7272 Greenville AvenueDallasTX752314596PCHealth Education$10,100
The Governor's School of Arts
254 Granby StreetNorfolkVA23510PCArt Education$400
Infant Crisis Services
4224 N Lincoln BlvdOklahoma CityOK73105PCAssistance to Babies and Toddlers via Life-Sustaining Formula, Food, and Diapers in Times of Crisis$5,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$75,500TotalGrantOrContriPdDurYrAmt

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
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 ActySubtotalsIncmProducingActyGrp

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 PersonDiamonds Direct USA IncContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line14521 Sharon Road Ste 101AddressLine1Txt
CityCharlotteCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28211ZIPCd
FieldValueIRS element (for citing)
Total Contributions$75,950TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescPRIOR PERIOD ADJUSTMENTDesc
Amt$100Amt

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