KING STREET CHARITABLE TR: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
KING STREET CHARITABLE TR (EIN 13-7425331)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-11-17
IRS object ID
202523219349102372
Schema version
2024v5.2
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)
Return2025-11-17T10:05:33-06:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ERNST & YOUNG US LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE MANHATTAN WESTAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN137425331EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The King Street Charitable TrustBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% MICHAEL P WENGROFSKY C/O KSInCareOfNm
Business Name ControlKINGBusinessNameControlTxt
Phone2128123112PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1299 Park Avenue 40th FLAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10171ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonBrian HigginsPersonNm
Person TitleManaging DirectorPersonTitleTxt
Phone2128123112PhoneNum
Signature2025-06-30SignatureDt
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 PersonJoel FriedlanderPreparerPersonNm
PTINP01230257PTIN
Phone2127733000PhoneNum
Preparation2025-11-17PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$13,865FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Other Income Rev And Expnss$170,382OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$170,382TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Accounting Fees Rev And Expnss$13,782AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$6,891AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$6,891AccountingFeesChrtblPrpsAmt
Other Expenses Rev And Expnss$50OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$50OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$13,832TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$6,891TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$6,941TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$188,931ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$18,549ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$202,763TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$6,891TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$25,490TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$32,381ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$68,164CashBOYAmt
Cash EOY$13,865CashEOYAmt
Cash EOYFMV$13,865CashEOYFMVAmt
Total Assets BOY$68,164TotalAssetsBOYAmt
Total Assets EOY$13,865TotalAssetsEOYAmt
Total Assets EOYFMV$13,865TotalAssetsEOYFMVAmt
Other Liabilities BOY$21,918OtherLiabilitiesBOYAmt
Other Liabilities EOY$0OtherLiabilitiesEOYAmt
Total Liabilities BOY$21,918TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$46,246CapitalStockBOYAmt
Capital Stock EOY$13,865CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$46,246TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$13,865TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$68,164TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$13,865TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$46,246TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$32,381ExcessRevenueOverExpensesAmt
Subtotal$13,865SubtotalAmt
Tot Net Ast Or Fund Balances EOY$13,865TotNetAstOrFundBalancesEOYAmt
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
Estimated Plus Ovpmt Incm Tx$0EstimatedPlusOvpmtIncmTxAmt
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 LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcYes (true)OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
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
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1MICHAEL P WENGROFSKY CO KSCMBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2128123112PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1299 PARK AVENUE 40TH FLOORAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10171ZIPCd
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
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As Exc0TransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsYes (true)MaintainedExpenditureRspnsInd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
BRIAN J HIGGINS
299 Park Avenue 40th FLNew YorkNY10171TRUSTEE1.0$0$0$0
O FRANCIS BIONDI JR
299 Park Avenue 40th FLNew YorkNY10171TRUSTEE1.0$0$0$0
JAMIE C NICHOLLS
299 Park Avenue 40th FLNew YorkNY10171TRUSTEE1.0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt
Description2NONEDescription2Txt
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$33,823AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$33,823TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$33,823AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$507CashDeemedCharitableAmt
Net Vl Noncharitable Assets$33,316NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,666MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,666MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$1,666DistributableBeforeAdjAmt
Distributable Before Ded$1,666DistributableBeforeDedAmt
Distributable As Adjusted$1,666DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$25,490ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$25,490QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,666DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12022PriorYear1Yr
Prior Year22021PriorYear2Yr
Prior Year32020PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$25,770ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$22,743ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$3,523ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$10,786ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$51,002ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$113,824TotalExcessDistributionCyovAmt
Qualifying Distributions$25,490QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$1,666AppliedToCurrentYearAmt
Remaining Distri From Corpus$23,824RemainingDistriFromCorpusAmt
Total Corpus$137,648TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$25,770ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$111,878ExcessDistriCyovToNextYrAmt
Excess From Year4$22,743ExcessFromYear4Amt
Excess From Year3$3,523ExcessFromYear3Amt
Excess From Year2$10,786ExcessFromYear2Amt
Excess From Year1$51,002ExcessFromYear1Amt
Excess From Current Year$23,824ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerBRIAN J HIGGINS AND O FRANCIS BIOContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
SEE LIST ATTACHED
SEE LIST ATTACHEDSEE LIST ATTACHEDNY00000N/APCGENERAL PURPOSE$18,549
SEE LIST ATTACHED
HIGGINS FAMILY FOUNDATIONNEW YORKNY10171N/APCGENERAL PURPOSE$170,382299 PARK AVENUE 40TH FLOOR
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$188,931TotalGrantOrContriPdDurYrAmt

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 DtlDividendsAndInterestFromSecDtl
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 InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescIRS REFUNDDesc
Related Or Exempt Function Incm$170,382RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$170,382RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$170,382TotalIncomeProducingActyAmt

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)
CategoryACCOUNTING FEESCategoryTxt
Amt$13,782Amt
Net Investment Income$6,891NetInvestmentIncomeAmt
Disbursements Charitable Prps$6,891DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Expenditure Responsibility Stmt ExpenditureResponsibilityStmt

Expenditure Responsibility ExpenditureResponsibilityGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HIGGINS FAMILY FOUNDATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1299 PARK AVENUE 40TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10171ZIPCd
FieldValueIRS element (for citing)
Grant$170,382GrantAmt
Purpose Of GrantGENERAL CHARITABLE SUPPORTPurposeOfGrantTxt
Any Diversion By GranteeNOAnyDiversionByGranteeTxt
Results Of VerificationANNUAL REPORTS ARE EXPECTED TO BE RECEIVED IN THE NEAR FUTURE. TO THE FULL EXTENT KNOWN, THE FUNDS/ASSETS GRANTED WERE NOT AND WILL NOT BE USED FOR NON-CHARITABLE PURPOSES.ResultsOfVerificationTxt

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationDURING 2024, THE KING STREET CHARITABLE TRUST (EIN: 13-7425331) MADE A GRANT CONSISTING OF VARIOUS ASSETS TO THE HIGGINS FAMILY FOUNDATION (EIN: 38-4152217). THE GRANT TRANSACTION IS A SUBSTANTIAL CONTRACTION OF THE KING STREET CHARITABLE TRUST. THE PURPOSE OF THE GRANT WAS FOR CHARITABLE GENERAL SUPPORT. ASSETS INCLUDED IN THE GRANT FROM THE KING STREET CHARTIABLE TRUST TO THE HIGGINS FAMILY FOUNDATION ARE THE FOLLOWING: 1. GRANT OF CASH IN THE NET AMOUNT OF $170,382. GRANT RECIPIENT DETAILS: NAME: HIGGINS FAMILY FOUNDATION EIN: 38-4152217 ADDRESS: 299 PARK AVENUE, 40TH FL, NEW YORK, NY 10171 TYPE OF ORGANIZATION: SECTION 501(C)(3) EXEMPT PRIVATE FOUNDATIONExplanationTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescSTATE FILING FEESDesc
Revenue And Expenses Per Books$50RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$50DisbursementsCharitablePrpsAmt

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescIRS RefundDesc
Revenue And Expenses Per Books$170,382RevenueAndExpensesPerBooksAmt

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

FieldValueIRS element (for citing)
DescDUE TO HIGGINS FAMILY FOUNDATIONDesc
BOY Book Value$21,918BOYBookValueAmt
EOY Book Value$0EOYBookValueAmt

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