EMPIRE LOAN CHARITABLE FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
EMPIRE LOAN CHARITABLE FOUNDATION (EIN 45-2741468)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-06-09
IRS object ID
201511609349100356
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)
Return2015-06-09T10:56:20-05:00ReturnTs
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)
EIN452741468EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Empire Loan Charitable FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlEMPIBusinessNameControlTxt
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)
Personmichael goldsteinPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2015-05-31SignatureDt
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$8,540FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$20,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$99InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$99InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$20,099TotalRevAndExpnssAmt
Total Net Invst Incm$99TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$210OtherProfFeesRevAndExpnssAmt
Other Prof Fees Dsbrs Chrtbl$210OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss$2TaxesRevAndExpnssAmt
Printing And Pub Rev And Expnss$150PrintingAndPubRevAndExpnssAmt
Printing And Pub Dsbrs Chrtbl$150PrintingAndPubDsbrsChrtblAmt
Other Expenses Rev And Expnss$7,294OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$7,294OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$7,656TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$7,654TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$53,232ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$53,232ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$60,888TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$60,886TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$40,789ExcessRevenueOverExpensesAmt
Net Investment Income$99NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$49,329SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$8,540SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$8,540SavAndTempCashInvstEOYFMVAmt
Total Assets BOY$49,329TotalAssetsBOYAmt
Total Assets EOY$8,540TotalAssetsEOYAmt
Total Assets EOYFMV$8,540TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$49,329RetainedEarningBOYAmt
Retained Earning EOY$8,540RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$49,329TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$8,540TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$49,329TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$8,540TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$49,329TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$40,789ExcessRevenueOverExpensesAmt
Subtotal$8,540SubtotalAmt
Tot Net Ast Or Fund Balances EOY$8,540TotNetAstOrFundBalancesEOYAmt
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$127,348AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$40,633NetVlNoncharitableAssetsYr1Amt
Distribution Yr13.134103DistributionYr1Rt
Adjusted Qlfy Distri Yr2$94,745AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$33,521NetVlNoncharitableAssetsYr2Amt
Distribution Yr22.826437DistributionYr2Rt
Adjusted Qlfy Distri Yr3$6,100AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$10,886NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.560353DistributionYr3Rt
Adjusted Qlfy Distri Yr4$0AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$0NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.0DistributionYr4Rt
Adjusted Qlfy Distri Yr5$0AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$0NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.0DistributionYr5Rt
Total Distribution6.520893TotalDistributionRt
Average Distribution2.173631AverageDistributionRt
Net Vl Noncharitable Assets$19,714NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$42,851AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$1NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$42,852AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$60,886QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$1InvestmentIncomeExciseTaxAmt
Subtotal$1SubtotalAmt
Tax Based On Investment Income$1TaxBasedOnInvestmentIncomeAmt
Applied To Es Tax$1AppliedToEsTaxAmt
Total Payments And Credits$1TotalPaymentsAndCreditsAmt

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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Michael D Goldstein
Foundation Source 501 Silverside RdWilmingtonDE198091377Pres / Dir / Sec1.0$0
John Keithline
Foundation Source 501 Silverside RdWilmingtonDE198091377VP / Dir1.0$0
Allison Picott
Foundation Source 501 Silverside RdWilmingtonDE198091377VP / Dir1.0$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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$20,014AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$20,014TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$20,014AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$300CashDeemedCharitableAmt
Net Vl Noncharitable Assets$19,714NetVlNoncharitableAssetsAmt
Minimum Investment Return$986MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$986MinimumInvestmentReturnAmt
Tax Based On Investment Income$1TaxBasedOnInvestmentIncomeAmt
Total Tax$1TotalTaxAmt
Distributable Before Adj$985DistributableBeforeAdjAmt
Distributable Before Ded$985DistributableBeforeDedAmt
Distributable As Adjusted$985DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$60,886ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$60,886QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$1PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$60,885AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$985DistributableAsAdjustedAmt
Prior Year12012PriorYear1Yr
Prior Year22011PriorYear2Yr
Prior Year32010PriorYear3Yr
Excess Distribution Cyov Yr3$5,843ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$93,075ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$125,320ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$224,238TotalExcessDistributionCyovAmt
Qualifying Distributions$60,886QualifyingDistributionsAmt
Applied To Current Year$985AppliedToCurrentYearAmt
Remaining Distri From Corpus$59,901RemainingDistriFromCorpusAmt
Total Corpus$284,139TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$284,139ExcessDistriCyovToNextYrAmt
Excess From Year3$5,843ExcessFromYear3Amt
Excess From Year2$93,075ExcessFromYear2Amt
Excess From Year1$125,320ExcessFromYear1Amt
Excess From Current Year$59,901ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (15 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
BOSTON CITY LIGHTS FOUNDATION INC
1154 WASHINGTON STBOSTONMA02118N/APCGeneral & Unrestricted$10,000
BUILDING BRIDGES THROUGH MUSIC INC
25 EXCHANGE STLYNNMA01901N/APCGeneral & Unrestricted$250
CHINATOWN PEOPLE PROGRESSIVE ASSOCIATION INC
28 ASH STBOSTONMA02111N/APCGeneral & Unrestricted$175
COMMONWEALTH ZOOLOGICAL CORPORATION
1 FRANKLIN PARK RDBOSTONMA02121N/APCGeneral & Unrestricted$8,000
COMMUNITY TEAMWORK INC 1
155 MERRIMACK STLOWELLMA01852N/APCBranch Street Fire Fund$1,187
FAMILY & CHILDRENS SERVICE OF GREATER LYNN INC
111 N COMMON STLYNNMA01902N/APCGeneral & Unrestricted$250
GIRLS INCORPORATED OF GREATER LOWELL
220 WORTHEN STLOWELLMA01852N/APCThe Empire Loan Charitable Foundation Scholarship Fund$1,500
GIRLS INCORPORATED OF LYNN
50 HIGH STLYNNMA01902N/APCGeneral & Unrestricted$320
LA CHIC MENTORING PLUS INC
501 CABOT STBEVERLYMA01915N/APCGeneral & Unrestricted$250
MATTAPAN COMMUNITY HEALTH CENTER INC
1575 BLUE HILL AVEBOSTONMA02126N/APCGeneral & Unrestricted$25,000
MY BROTHERS TABLE INC
98 WILLOW STLYNNMA01901N/APCGeneral & Unrestricted$500
NO BOOKS NO BALL
9 ROZELLA STDORCHESTERMA02122N/APCGeneral & Unrestricted$2,500
PUBLIC ACTION FOR THE PERFORMING ARTS INC
198 TREMONT ST NO 225BOSTONMA02116N/APCGeneral & Unrestricted$1,000
ROOM TO GROW NATIONAL INC
54 W 21ST ST RM 401NEW YORKNY10010N/APCGeneral & Unrestricted$1,800
WELCOME PROJECT INC
530 MYSTIC AVE 111SOMERVILLEMA02145N/APCGeneral & Unrestricted$500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$53,232TotalGrantOrContriPdDurYrAmt

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$99ExclusionAmt
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

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$99ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$99TotalIncomeProducingActyAmt

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 PersonEmpire Collateral Loan Co IncContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line11130 Washington StAddressLine1Txt
CityBostonCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02118ZIPCd
FieldValueIRS element (for citing)
Total Contributions$20,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$7,269$7,269
State or Local Filing Fees$25$25

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryGRAPHIC DESIGN SERVICESCategoryTxt
Amt$210Amt
Disbursements Charitable Prps$210DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Excise Tax for 2013CategoryTxt
Amt$2Amt

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