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RICHARD DESICH FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
RICHARD DESICH FOUNDATION (EIN 26-4308958)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-06-09
IRS object ID
201511609349100306
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)
Return2015-06-09T10:56:21-05:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

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 Begin2014-01-01TaxPeriodBeginDt

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
Address Line2Suite 123AddressLine2Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
Personrichard desichPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2015-05-06SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
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$1,330,103FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$500,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$80InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$80InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$9,376OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$509,456TotalRevAndExpnssAmt
Total Net Invst Incm$80TotalNetInvstIncmAmt
Other Expenses Rev And Expnss$391,213OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,025OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$391,213TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,025TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$500,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$500,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$891,213TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$505,025TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$381,757ExcessRevenueOverExpensesAmt
Net Investment Income$80NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$8,991SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$13,423SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$13,423SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$1,974,729OtherInvestmentsBOYAmt
Other Investments EOY$1,588,540OtherInvestmentsEOYAmt
Other Investments EOYFMV$1,316,680OtherInvestmentsEOYFMVAmt
Total Assets BOY$1,983,720TotalAssetsBOYAmt
Total Assets EOY$1,601,963TotalAssetsEOYAmt
Total Assets EOYFMV$1,330,103TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$1,983,720RetainedEarningBOYAmt
Retained Earning EOY$1,601,963RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,983,720TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,601,963TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,983,720TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,601,963TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,983,720TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$381,757ExcessRevenueOverExpensesAmt
Subtotal$1,601,963SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,601,963TotNetAstOrFundBalancesEOYAmt
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$505,684AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$1,634,793NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.309326DistributionYr1Rt
Adjusted Qlfy Distri Yr2$506,678AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$1,390,352NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.364424DistributionYr2Rt
Adjusted Qlfy Distri Yr3$504,093AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$967,479NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.521038DistributionYr3Rt
Adjusted Qlfy Distri Yr4$2,546AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$512,231NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.00497DistributionYr4Rt
Adjusted Qlfy Distri Yr5$6,683AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$1,873NetVlNoncharitableAssetsYr5Amt
Distribution Yr53.568073DistributionYr5Rt
Total Distribution4.767831TotalDistributionRt
Average Distribution0.953566AverageDistributionRt
Net Vl Noncharitable Assets$1,311,115NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$1,250,235AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$1NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$1,250,236AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$505,025QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2InvestmentIncomeExciseTaxAmt
Subtotal$2SubtotalAmt
Tax Based On Investment Income$2TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$99EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$99TotalPaymentsAndCreditsAmt
Overpayment$97OverpaymentAmt
Applied To ES Tax$97AppliedToESTaxAmt

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
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$14,401AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$1,316,680FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,331,081TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$1,331,081AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$19,966CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,311,115NetVlNoncharitableAssetsAmt
Minimum Investment Return$65,556MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$65,556MinimumInvestmentReturnAmt
Tax Based On Investment Income$2TaxBasedOnInvestmentIncomeAmt
Total Tax$2TotalTaxAmt
Distributable Before Adj$65,554DistributableBeforeAdjAmt
Distributable Before Ded$65,554DistributableBeforeDedAmt
Distributable As Adjusted$65,554DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$505,025ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$505,025QualifyingDistributionsAmt
Adjusted Qualifying Distri$505,025AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$65,554DistributableAsAdjustedAmt
Prior Year12012PriorYear1Yr
Prior Year22011PriorYear2Yr
Prior Year32010PriorYear3Yr
Excess Distribution Cyov Yr3$448,789ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$437,167ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$423,945ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,309,901TotalExcessDistributionCyovAmt
Qualifying Distributions$505,025QualifyingDistributionsAmt
Applied To Current Year$65,554AppliedToCurrentYearAmt
Remaining Distri From Corpus$439,471RemainingDistriFromCorpusAmt
Total Corpus$1,749,372TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,749,372ExcessDistriCyovToNextYrAmt
Excess From Year3$448,789ExcessFromYear3Amt
Excess From Year2$437,167ExcessFromYear2Amt
Excess From Year1$423,945ExcessFromYear1Amt
Excess From Current Year$439,471ExcessFromCurrentYearAmt
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

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1LORAIN COUNTY COMMUNITY COLLEGE FOUNDATIONBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line11005 ABBE RD NAddressLine1Txt
CityELYRIACityNm
State AbbreviationOHStateAbbreviationCd
ZIP44035ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipN/ARecipientRelationshipTxt
Recipient Foundation StatusSO III FIRecipientFoundationStatusTxt
Grant Or Contribution PurposeCapital CampaignGrantOrContributionPurposeTxt
Amt$500,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$500,000TotalGrantOrContriPdDurYrAmt

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$80ExclusionAmt
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

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescFederal Tax RefundDesc
Exclusion01ExclusionCd
Exclusion$9,376ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$9,456ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$9,456TotalIncomeProducingActyAmt

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 Line112110 Sunnydale DrAddressLine1Txt
CityWellingtonCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33414ZIPCd
FieldValueIRS element (for citing)
Total Contributions$500,000TotalContributionsAmt
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$1,588,540BookValueAmt
EOYFMV$1,316,680EOYFMVAmt

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$386,188
State or Local Filing Fees$25$25

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescFederal Tax RefundDesc
Revenue And Expenses Per Books$9,376RevenueAndExpensesPerBooksAmt

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