BETA

THE 500 CAPP STREET FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
THE 500 CAPP STREET FOUNDATION (EIN 26-4116050)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-06-02
IRS object ID
201511539349100516
Schema version
2014v5.0
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)
Return2015-06-02T18:52:51-07:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN273461077PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MASON & MASON CPAsBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line130 CORTE SERENOAddressLine1Txt
CityGREENBRAECityNm
State AbbreviationCAStateAbbreviationCd
ZIP94904ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN264116050EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1500 CAPP STREET FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name Control500CBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1720 YORK STREETAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94110ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCARLIE WILMANSPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone4159861571PhoneNum
Signature2015-06-02SignatureDt
Discuss With Paid PreparerfalseDiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRANDY MASONPreparerPersonNm
PTINP01484278PTIN
Phone4155242316PhoneNum
Preparation2015-06-02PreparationDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$4,372,290FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$714,213ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$4InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$4InterestOnSavNetInvstIncmAmt
Total Rev And Expnss$714,217TotalRevAndExpnssAmt
Total Net Invst Incm$4TotalNetInvstIncmAmt
Oth Empl Slrs Wgs Rev And Expnss$29,844OthEmplSlrsWgsRevAndExpnssAmt
Oth Empl Slrs Wgs Dsbrs Chrtbl$29,844OthEmplSlrsWgsDsbrsChrtblAmt
Legal Fees Rev And Expnss$9,984LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$9,984LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$2,803AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$2,803AccountingFeesChrtblPrpsAmt
Interest Rev And Expnss$34InterestRevAndExpnssAmt
Interest Net Invst Incm$34InterestNetInvstIncmAmt
Taxes Rev And Expnss$3,275TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$2,475TaxesDsbrsChrtblAmt
Occupancy Rev And Expnss$18,613OccupancyRevAndExpnssAmt
Occupancy Dsbrs Chrtbl$18,613OccupancyDsbrsChrtblAmt
Trav Conf Meeting Rev And Expnss$2,503TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Dsbrs Chrtbl$2,503TravConfMeetingDsbrsChrtblAmt
Other Expenses Rev And Expnss$681,835OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$334OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$681,501OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$748,891TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$368TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$747,723TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$748,891TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$368TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$747,723TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$34,674ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$41,032CashBOYAmt
Cash EOY$4,333CashEOYAmt
Cash EOYFMV$4,333CashEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$850,000LandBldgEquipCostOrOtherBssAmt
Land BOY$850,000LandBOYAmt
Land EOY$850,000LandEOYAmt
Land EOYFMV$850,000LandEOYFMVAmt
Other Assets BOY$3,515,932OtherAssetsBOYAmt
Other Assets EOY$3,517,957OtherAssetsEOYAmt
Other Assets EOYFMV$3,517,957OtherAssetsEOYFMVAmt
Total Assets BOY$4,406,964TotalAssetsBOYAmt
Total Assets EOY$4,372,290TotalAssetsEOYAmt
Total Assets EOYFMV$4,372,290TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$4,406,964RetainedEarningBOYAmt
Retained Earning EOY$4,372,290RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$4,406,964TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$4,372,290TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,406,964TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$4,372,290TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,406,964TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$34,674ExcessRevenueOverExpensesAmt
Subtotal$4,372,290SubtotalAmt
Tot Net Ast Or Fund Balances EOY$4,372,290TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$217,631AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$638,083NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.34107DistributionYr1Rt
Adjusted Qlfy Distri Yr2$127,704AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$612,750NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.208411DistributionYr2Rt
Adjusted Qlfy Distri Yr3$37,062AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$14,045NetVlNoncharitableAssetsYr3Amt
Distribution Yr32.638804DistributionYr3Rt
Adjusted Qlfy Distri Yr4$9,208AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$13,092NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.70333DistributionYr4Rt
Adjusted Qlfy Distri Yr5$83,997AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$6,388NetVlNoncharitableAssetsYr5Amt
Distribution Yr513.149186DistributionYr5Rt
Total Distribution17.040801TotalDistributionRt
Average Distribution3.40816AverageDistributionRt
Net Vl Noncharitable Assets$668,777NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$2,279,299AdjNetVlNoncharitableAssetsAmt
Adj Nonchrtbl Net Invst Incm Pct$2,279,299AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$747,723QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt

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 StateCAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityYes (true)OwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressWWW.500CAPPSTREET.ORGWebsiteAddressTxt
Individual With BooksCARLIE WILMANSIndividualWithBooksNm
Phone4159861571PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1720 YORK STREETAddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94110ZIPCd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
CARLIE WILMANS
720 YORK STREETSAN FRANCISCOCA94110PRESIDENT20.00$0$0$0
JOCK REYNOLDS
720 YORK STREETSAN FRANCISCOCA94110SECRETARY DIRECTOR1.00$0$0$0
ANN HATCH
720 YORK STREETSAN FRANCISCOCA94110CFO DIRECTOR1.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdService TypeServiceTypeTxtCompensationCompensationAmt
OLIVER COMPANY
1300 SOUTH 51ST STREETRICHMONDCA94804CONSTRUCTION$240,311
ARG CONSERVATION SERVICES
PIER 9 THE EMBARCADEROSAN FRANCISCOCA94111CONSTRUCTION$146,478
ADD-A-GARAGE
2776 BROADWAY STREETSAN FRANCISCOCA94115CONSTRUCTION$218,786

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1SEE STATEMENT 127Description1Txt
Expenses1$747,723Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1NADescription1Txt
Expenses1$0Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$51,461AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$627,500FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$678,961TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$678,961AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$10,184CashDeemedCharitableAmt
Net Vl Noncharitable Assets$668,777NetVlNoncharitableAssetsAmt
Minimum Investment Return$33,439MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$33,439MinimumInvestmentReturnAmt
Distributable Before Adj$33,439DistributableBeforeAdjAmt
Distributable Before Ded$33,439DistributableBeforeDedAmt
Distributable As Adjusted$33,439DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$747,723ExpensesAndContributionsAmt
Qualifying Distributions$747,723QualifyingDistributionsAmt
Adjusted Qualifying Distri$747,723AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$33,439DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$83,678ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$8,553ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$36,360ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$97,066ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$185,727ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$411,384TotalExcessDistributionCyovAmt
Qualifying Distributions$747,723QualifyingDistributionsAmt
Applied To Current Year$33,439AppliedToCurrentYearAmt
Remaining Distri From Corpus$714,284RemainingDistriFromCorpusAmt
Total Corpus$1,125,668TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$83,678ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,041,990ExcessDistriCyovToNextYrAmt
Excess From Year4$8,553ExcessFromYear4Amt
Excess From Year3$36,360ExcessFromYear3Amt
Excess From Year2$97,066ExcessFromYear2Amt
Excess From Year1$185,727ExcessFromYear1Amt
Excess From Current Year$714,284ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerCARLIE WILMANSContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd
Total Grant Or Contri Pd Dur Yr$0TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$4ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$4ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$4TotalIncomeProducingActyAmt

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 PersonCARLIE WILMANSContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1720 YORK STREET SUITE 103AddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94110ZIPCd
FieldValueIRS element (for citing)
Total Contributions$714,213TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$2,803Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$2,803DisbursementsCharitablePrpsAmt

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp (4 entries)

Form And Line ReferenceFormAndLineReferenceDescMedium ExplanationMediumExplanationTxt
Form 990PF General Explanation Attachment 1PART II, LINE 15ARTWORK BY THE LATE ARTIST DAVID IRELAND WITH A FAIR MARKET VALUE OF $3,520,932 WAS DONATED TO THE FOUNDATION ON APRIL 25, 2011 BY THE DAVID IRELAND REVOCABLE TRUST (THE TRUST). THE TRUST HAD AN APPRAISAL PERFORMED FOR ESTATE PURPOSES WITH AN EFFECTIVE DATE OF MAY 17, 2009. FOUNDATION MANAGEMENT IS BASING THE VALUE OF THE ARTWORK DONATED BY THE TRUST TO THE FOUNDATION ON THE VALUES ASSIGNED TO THE DONATED ITEMS PER THE ABOVE MENTIONED APPRAISAL REPORT. EXCEPT FOR CERTAIN PIECES HELD FOR SALE ($627,500), THIS ARTWORK IS CONSIDERED AN EXEMPT PURPOSE ASSET, THUS IT IS NOT INCLUDED IN THE AMOUNT OF ASSETS USED TO CALCULATE THE FOUNDATION'S MINIMUM INVESTMENT RETURN IN PART X. THE ARTWORK IS SHOWN TO GROUPS AND INDIVIDUALS IN CARRYING OUT THE FOUNDATION'S EXEMPT PURPOSE.
Form 990PF General Explanation Attachment 2PART VII-A, LINE 11ON SEPTEMBER 20, 2011, 100% OF THE MEMBERSHIP INTEREST IN BMZ-II LANDHOLDINGS LLC, A CALIFORNIA SINGLE MEMBER LIMITED LIABILITY COMPANY WAS DONATED TO THE FOUNDATION BY A DIRECTOR OF THE FOUNDATION. THE LLC WAS ESTABLISHED TO PURCHASE AND HOLD THE RESIDENCE OF THE LATE ARTIST DAVID IRELAND LOCATED AT 500 CAPP ST., SAN FRANCISCO, CA. PRIOR TO THE DONATION OF THE LLC MEMBERSHIP INTEREST TO THE FOUNDATION, THE LLC TRANSFERRED OWNERSHIP OF THE HOUSE TO A FOUNDATION DIRECTOR, WHO IN TURN DONATED THE HOUSE TO THE FOUNDATION. AS OF DECEMBER 31, 2014, THERE ARE NO ASSETS OR LIABILITIES IN THE LLC WITH THE EXCEPTION OF AN INTERCOMPANY RECEIVABLE. DURING 2014 THERE WAS NO FINANCIAL ACTIVITY WITHIN THE LLC.
Form 990PF General Explanation Attachment 3PART IX-APRESERVATION OF THE LATE ARTIST DAVID IRELAND'S FORMER RESIDENCE AND ARTWORK AT 500 CAPP STREET, SAN FRANCISCO, CA WHICH SERVES AS A SHOWCASE FOR MANY OF HIS MOST IMPORTANT WORKS. THE FOUNDATION WAS SPECIFICALLY ESTABLISHED TO PRESERVE, ARCHIVE AND STUDY THE WORK AND LIFE OF DAVID IRELAND WITH A FOCUS ON THE ARTWORKS AND DOCUMENTS LOCATED IN DAVID IRELAND'S FORMER RESIDENCE. INDIVIDUAL AND GROUP TOURS ARE OFFERED SO THAT THE GENERAL PUBLIC AND EDUCATIONAL INSTITUTIONS CAN VIEW THE RESIDENCE AND ARTWORK. THE FOUNDATION EXPENDITURES INCLUDED WAGES, CARETAKING FEES, COLLECTION OPERATING EXPENSES, RENOVATION AND ADMINISTRATIVE EXPENSES. THE RESIDENCE IS CURRENTLY UNDERGOING RENOVATIONS.
Form 990PF General Explanation Attachment 4PART II, LINE 14THE LATE ARTIST DAVID IRELAND'S RESIDENCE LOCATED AT 500 CAPP ST., SAN FRANCISCO, CA WAS DONATED TO THE FOUNDATION BY A FOUNDATION BOARD MEMBER ON SEPTEMBER 20, 2011. AN INDEPENDENT APPRAISAL REPORT VALUED THE RESIDENCE AT $850,000 AS OF SEPTEMBER 1, 2011. THE RESIDENCE IS AN EXEMPT PURPOSE ASSET, THUS IT IS NOT INCLUDED IN THE AMOUNT OF ASSETS USED TO CALCULATE THE FOUNDATION'S MINIMUM INVESTMENT RETURN IN PART X. THE RESIDENCE IS CONSIDERED A COLLECTIBLE ITEM AND IS NOT SUBJECT TO DEPRECIATION. THE RESIDENCE IS SHOWN TO GROUPS AND INDIVIDUALS IN CARRYING OUT THE FOUNDATION'S EXEMPT PURPOSE. THE RESIDENCE IS CURRENTLY UNDERGOING RENOVATIONS.

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or Item500 CAPP ST RESIDENCE-STMNT 127CategoryOrItemTxt
Cost Or Other Basis$850,000CostOrOtherBasisAmt
Accumulated Depreciation$0AccumulatedDepreciationAmt
Book Value$850,000BookValueAmt
EOYFMV$850,000EOYFMVAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$9,984LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$9,984DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp (2 entries)

DescDescBOY Book ValueBOYBookValueAmtEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ARTWORK-SEE STMNT 127$3,515,932$3,515,932$3,515,932
OFFICE RENTAL SECURITY DEPOSIT$0$2,025$2,025

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (8 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
COLLECTION HOUSE IMPROVEMNTS$600,745$0$0$600,745
COLLECTION OPERATING EXPENSES$63,467$0$0$63,467
INSURANCE$10,634$0$0$10,634
FEES LICENSES AND PERMITS$1,898$334$0$1,564
SUPPLIES POSTAGE DELIVERY$3,335$0$0$3,335
TELECOMMUNICATIONS$416$0$0$416
SOFTWARE EXPENSES$1,030$0$0$1,030
OTHER$310$0$0$310

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonCARLIE WILMANSPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1720 YORK STREET SUITE 103AddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94110ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EMPLOYER PAYROLL TAXES$2,475$0$0$2,475
CA FRANCHISE TAX$800$0$0$0

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