LIBERTY FOUNDATION INC: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
LIBERTY FOUNDATION INC (EIN 72-1249256)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-11-11
IRS object ID
201513159349300611
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)
Return2015-11-11T07:15:16-06:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN720877929PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BRUNO & TERVALON LLP CPASBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14298 ELYSIAN FIELDS AVEAddressLine1Txt
CityNEW ORLEANSCityNm
State AbbreviationLAStateAbbreviationCd
ZIP70122ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN721249256EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LIBERTY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLIBEBusinessNameControlTxt
Phone5042405264PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 60131AddressLine1Txt
CityNEW ORLEANSCityNm
State AbbreviationLAStateAbbreviationCd
ZIP701600131ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonALDEN J MCDONALDPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone5042405264PhoneNum
Signature2015-11-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonWALDO J MORET JRPreparerPersonNm
PTINP01239199PTIN
Phone5042848733PhoneNum
Preparation2015-11-09PreparationDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-03-07 17:11:31ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerALDEN J MCDONALDPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 60131AddressLine1Txt
CityNEW ORLEANSCityNm
State AbbreviationLAStateAbbreviationCd
ZIP701600131ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$9,235GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1993FormationYr
Legal Domicile StateLALegalDomicileStateCd
Activity Or MissionCOMMUNITY IMPROVEMENTActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent4VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$95,315PYContributionsGrantsAmt
CY Contributions Grants$6,048CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$53,725PYInvestmentIncomeAmt
CY Investment Income$3,187CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$149,040PYTotalRevenueAmt
CY Total Revenue$9,235CYTotalRevenueAmt
PY Grants And Similar Paid$32,033PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$48,115CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$3,084CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$3,084CYTotalFundraisingExpenseAmt
PY Other Expenses$49,086PYOtherExpensesAmt
CY Other Expenses$28,813CYOtherExpensesAmt
PY Total Expenses$81,119PYTotalExpensesAmt
CY Total Expenses$80,012CYTotalExpensesAmt
PY Revenues Less Expenses$67,921PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$70,777CYRevenuesLessExpensesAmt
Total Assets BOY$1,273,904TotalAssetsBOYAmt
Total Assets EOY$1,532,163TotalAssetsEOYAmt
Total Liabilities EOY$300,000TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,273,904NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,232,163NetAssetsOrFundBalancesEOYAmt
MissionCOMMUNITY IMPROVEMENTMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$58,151ExpenseAmt
Grant$48,115GrantAmt
DescDONATIONS TO VARIOUS COMMUNITY SCHOOLS,ORGANIZATIONS AND INDIVIDUALS.Desc
Total Program Service Expenses$58,151TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredfalseScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member4IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonLEROY WATTSPersonNm
Phone5042405102PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line17990 SCENIC HWYAddressLine1Txt
CityBATON ROUGECityNm
State AbbreviationLAStateAbbreviationCd
ZIP70807ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
ALDEN J MCDONALD
PRES/SEC'Y.Yes (X)$0$0$0
RONALD BURNS
VICE-PRESIDEYes (X)$0$0$0
RUTH RAMSEY
VICE-PRESIDEYes (X)$0$0$0
LEROY WATTS
TREASURERYes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$6,048AllOtherContributionsAmt
Total Contributions$6,048TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$3,187TotalRevenueColumnAmt
Exclusion$3,187ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$9,235TotalRevenueColumnAmt
Exclusion$3,187ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$30,560TotalAmt
Program Services$30,560ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$17,555TotalAmt
Program Services$17,555ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$2,625TotalAmt
Management And General$2,625ManagementAndGeneralAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total$3,084TotalAmt
Fundraising$3,084FundraisingAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$15,931TotalAmt
Management And General$15,931ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$8,371TotalAmt
Program Services$8,371ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$221TotalAmt
Management And General$221ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescAWARDSDesc
Total$1,665TotalAmt
Program Services$1,665ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$80,012TotalAmt
Program Services$58,151ProgramServicesAmt
Management And General$18,777ManagementAndGeneralAmt
Fundraising$3,084FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$114,184BOYAmt
EOY$356,479EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$25,000BOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$25,000EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$96,114LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$96,114BOYAmt
EOY$96,114EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$1,038,606BOYAmt
EOY$1,054,570EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,273,904BOYAmt
EOY$1,532,163EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

FieldValueIRS element (for citing)
EOY$300,000EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$300,000EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,273,904BOYAmt
EOY$1,232,163EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,273,904BOYAmt
EOY$1,232,163EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,273,904BOYAmt
EOY$1,532,163EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$70,777ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$29,036OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$100,743CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$188,400CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$41,525CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$95,310CurrentTaxYearMinus1YearAmt
Current Tax Year$6,048CurrentTaxYearAmt
Total$432,026TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$100,743CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$188,400CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$41,525CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$95,310CurrentTaxYearMinus1YearAmt
Current Tax Year$6,048CurrentTaxYearAmt
Total$432,026TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$105,836SubstantialContributorsTotAmt
Public Support Total170$326,190PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$13,333CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$13,225CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$15,472CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$16,266CurrentTaxYearMinus1YearAmt
Current Tax Year$16,287CurrentTaxYearAmt
Total$74,583TotalAmt
FieldValueIRS element (for citing)
Total Support$506,609TotalSupportAmt
Public Support CY1700.64390PublicSupportCY170Pct
Public Support PY1700.64800PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$96,114OtherCostOrOtherBasisAmt
Book Value$96,114BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$96,114TotalBookValueLandBuildingsAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedfalseGrantRecordsMaintainedInd

Recipient Table RecipientTable (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxt
HOLY CROSS HIGH SCHOLL
PARIS AVENEW ORLEANSLA70122$22,350EDUCATION
XAVIER UNIVERSITY
1 DREXEL DRNEW ORLEANSLA70125$8,210EDUCATION

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeSCHOLARSHIPSGrantTypeTxt
Recipient1RecipientCnt
Cash Grant$17,555CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE I, PAGE 1, PART I, LINE 2FormAndLineReferenceDesc
ExplanationTHE LIBERTY FOUNDATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS IS TO MAKE ANNUAL SITE VISITS. THE GRANT RECIPIENT IS ALSO REQUIRED TO PRESENT QUARTERLY PERFORMANCE REPORTS.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11BNO REVIEW WAS OR WILL BE CONDUCTED.
FORM 990, PAGE 6, PART VI, LINE 19NO DOCUMENTS AVAILABLE TO THE PUBLIC
FORM 990, PART IX, LINE 11GCONSULTING 8,371 0 0
FORM 990, PART XI, LINE 9UNREALIZED GAINS 29,036

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