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THE MARGARET FOTI FOUNDATION: Form 990PF, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
THE MARGARET FOTI FOUNDATION (EIN 47-2400869)
Tax period
2015-01-01 to 2015-12-31
Filed
2016-04-21
IRS object ID
201611129349100236
Schema version
2015v2.1
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)
Return2016-04-21T14:04:06-05:00ReturnTs
Tax Period End2015-12-31TaxPeriodEndDt

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 Begin2015-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN472400869EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Margaret Foti FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlMARGBusinessNameControlTxt
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)
PersonMARGARET FOTIPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2016-04-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2015TaxYr
Build TS2016-09-27 15:27:22ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$398,877FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$55,082ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$28InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$28InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$8,630DividendsRevAndExpnssAmt
Dividends Net Invst Incm$8,630DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss-$2,882NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$357,376GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$22,710CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$60,858TotalRevAndExpnssAmt
Total Net Invst Incm$31,368TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$3,153OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$3,153OtherProfFeesNetInvstIncmAmt
Other Expenses Rev And Expnss$9,685OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$9,685OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$12,838TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$3,153TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$9,685TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$12,838TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$3,153TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$9,685TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$48,020ExcessRevenueOverExpensesAmt
Net Investment Income$28,215NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$360,000SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$26,359SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$26,359SavAndTempCashInvstEOYFMVAmt
Corporate Stock EOY$381,661CorporateStockEOYAmt
Corporate Stock EOYFMV$372,518CorporateStockEOYFMVAmt
Total Assets BOY$360,000TotalAssetsBOYAmt
Total Assets EOY$408,020TotalAssetsEOYAmt
Total Assets EOYFMV$398,877TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$360,000RetainedEarningBOYAmt
Retained Earning EOY$408,020RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$360,000TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$408,020TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$360,000TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$408,020TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$360,000TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$48,020ExcessRevenueOverExpensesAmt
Subtotal$408,020SubtotalAmt
Tot Net Ast Or Fund Balances EOY$408,020TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$357,376GrossSalesPriceAmt
Cost Or Other Basis$334,666CostOrOtherBasisAmt
Gain Or Loss$22,710GainOrLossAmt
Gains Minus Excess Or Losses$22,710GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$22,710CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$0AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$88,650NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.0DistributionYr1Rt
Total Distribution0.0TotalDistributionRt
Average Distribution0.0AverageDistributionRt
Net Vl Noncharitable Assets$364,724NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$0AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$282NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$282AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$9,685QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$282InvestmentIncomeExciseTaxAmt
Subtotal$282SubtotalAmt
Tax Based On Investment Income$282TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$282TaxDueAmt

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 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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Peter A Certo Jr
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
Donna Certo-Mirabelli
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
Margaret Foti
Foundation Source 501 Silverside RdWilmingtonDE198091377Pres / Dir / Sec / Treas1.0$0$0$0
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$312,848AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$57,430AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$370,278TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$370,278AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$5,554CashDeemedCharitableAmt
Net Vl Noncharitable Assets$364,724NetVlNoncharitableAssetsAmt
Minimum Investment Return$18,236MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$18,236MinimumInvestmentReturnAmt
Tax Based On Investment Income$282TaxBasedOnInvestmentIncomeAmt
Total Tax$282TotalTaxAmt
Distributable Before Adj$17,954DistributableBeforeAdjAmt
Distributable Before Ded$17,954DistributableBeforeDedAmt
Distributable As Adjusted$17,954DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$9,685ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$9,685QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$282PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$9,403AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$17,954DistributableAsAdjustedAmt
Undistributed Income PY$510UndistributedIncomePYAmt
Prior Year12013PriorYear1Yr
Prior Year22012PriorYear2Yr
Prior Year32011PriorYear3Yr
Qualifying Distributions$9,685QualifyingDistributionsAmt
Applied To Year1$510AppliedToYear1Amt
Applied To Current Year$9,175AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$8,779UndistributedIncomeCYAmt
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)
Contributing ManagerMargaret FotiContributingManagerNm
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 Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$28ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$8,630ExclusionAmt
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 Incm Part VIIOtherInvestmentIncmPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion-$2,882ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$5,776ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$5,776TotalIncomeProducingActyAmt

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 PersonFoti MargaretContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1220 Locust Street Apt 24AAddressLine1Txt
CityPhiladelphiaCityNm
State AbbreviationPAStateAbbreviationCd
ZIP19106ZIPCd
FieldValueIRS element (for citing)
Total Contributions$55,082TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp (2 entries)

ContributorContributorNumNoncash PropertyNoncashPropertyDescFair Market ValueFairMarketValueAmtReceivedReceivedDt
1ISHARES RUSSELL 2000 IWM, 138 sh.$15,6652015-12-28
1ISHARES TRUST RUSSELL 1000 GROWTH INDEX IWF, 395 sh.$39,4172015-12-28

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (35 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
3M CO$2,329$2,260
BRISTOL-MYERS SQUIBB CO$3,674$4,127
CATERPILLAR INC$2,039$1,971
CONSUMER STAPLES SELECT SECTOR$12,653$12,925
COSTCO WHOLESALE CORPORATION$2,968$3,230
DB X TRACKERS MSCI EAFE HEDGED$10,049$9,669
GUGGENHEIM BULLETSHARES 2016 C$10,504$10,444
GUGGENHEIM BULLETSHARES 2017 C$10,501$10,404
GUGGENHEIM BULLETSHARES 2018 C$10,502$10,426
ISHARES 0 5 YEAR HIGH YIELD CO$9,968$9,129
ISHARES BARCLAYS 1-3 YEAR TREA$11,688$11,642
ISHARES BARCLAYS 1-3 YR CD BD$3,267$3,243
ISHARES DJ US HCIF$3,399$3,388
ISHARES MSCI GRW IDX$16,460$16,046
ISHARES MSCI-JAPAN$25,173$24,507
ISHARES S&P 500 INDEX FD$13,252$13,521
OIL SVC HLDRS TR$13,637$12,564
PAYCHEX$2,028$2,063
PEPSICO INC$2,054$1,998
PFIZER INC$2,744$2,712
PIMCO 0-5 YEAR H/Y CORP BOND$13,099$12,002
PIMCO ENHANCED SHORT MATURITY$26,235$26,158
POWERSHARES AEROSPACE-DEF$3,380$3,386
POWERSHARES EXCHANGE TRADED FU$14,522$14,451
POWERSHARES KBW BANK PORTFOLIO$11,433$11,390
POWERSHARES S&P 500 EX RATE SE$7,191$7,228
POWERSHARES S&P 500 HI DIV POR$10,401$10,669
RIVERFRONT STRATEGIC INCOME FU$40,426$39,017
SPDR BARCLAYS CAPITAL SHORT TE$6,942$6,870
SPDR BARCLAYS SHORT TERM HIGH$12,739$11,355
STREETTRACKS SER TR MORGAN STA$13,145$13,899
VANGRD TEL SVC ETF$6,767$6,629
WISDOM TREE EUROPE HEDGED EQUI$32,723$29,541
WISDOM TREE JAP SM CAP DIV$2,784$3,054
WISDOMTREE LC DVDND$10,985$10,600

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (5 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$3,810$3,810
Administrative Set-Up Fee$4,500$4,500
Delaware Incorporation Fees$500$500
IRS Application Fees$850$850
State or Local Filing Fees$25$25

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryInvestment Management ServicesCategoryTxt
Amt$3,153Amt
Net Investment Income$3,153NetInvestmentIncomeAmt

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