THE LIPTAK FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
THE LIPTAK FAMILY FOUNDATION (EIN 81-4647233)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-02-25
IRS object ID
202500569349101000
Schema version
2024v5.0
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)
Return2025-02-25T11:49:12-06:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN113266576PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1GRASSI & CO CPA'S PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1360 MADISON AVENUE 7TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN814647233EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE LIPTAK FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLIPTBusinessNameControlTxt
Phone9176033314PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line126 EAST 63RD ST PHAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10065ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDAVID LIPTAKPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone9176033314PhoneNum
Signature2025-02-24SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonANTHONY DATTOMAPreparerPersonNm
PTINP00237982PTIN
Phone2126616166PhoneNum
Preparation2025-02-24PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,211,794FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$6,779ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$56,620InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$56,620InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$44,566DividendsRevAndExpnssAmt
Dividends Net Invst Incm$44,566DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$107,965TotalRevAndExpnssAmt
Total Net Invst Incm$101,186TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Accounting Fees Rev And Expnss$3,185AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,592AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$0AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$3,421TaxesRevAndExpnssAmt
Taxes Net Invst Incm$0TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$0TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$173OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$0OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$0OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$6,779TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$1,592TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$190,890ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$190,890ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$197,669TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$1,592TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$190,890TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$89,704ExcessRevenueOverExpensesAmt
Net Investment Income$99,594NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$3,293,301SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$774,890SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$774,890SavAndTempCashInvstEOYFMVAmt
Corporate Bonds BOY$0CorporateBondsBOYAmt
Corporate Bonds EOY$2,428,707CorporateBondsEOYAmt
Corporate Bonds EOYFMV$2,428,707CorporateBondsEOYFMVAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$8,197OtherAssetsEOYAmt
Other Assets EOYFMV$8,197OtherAssetsEOYFMVAmt
Total Assets BOY$3,293,301TotalAssetsBOYAmt
Total Assets EOY$3,211,794TotalAssetsEOYAmt
Total Assets EOYFMV$3,211,794TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$3,293,301NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$3,211,794NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$3,293,301TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,211,794TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,293,301TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,211,794TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,293,301TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$89,704ExcessRevenueOverExpensesAmt
Other Increases$8,197OtherIncreasesAmt
Subtotal$3,211,794SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$3,211,794TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,384InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$1,384SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$1,384TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$2,400EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld$0BackupWithholdingWithheldAmt
Total Payments And Credits$2,400TotalPaymentsAndCreditsAmt
Es Penalty$0EsPenaltyAmt
Overpayment$1,016OverpaymentAmt
Applied To ES Tax$1,016AppliedToESTaxAmt
Refund$0RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen0Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial Contributors0NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksDAVID LIPTAKIndividualWithBooksNm
Phone9176033314PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line126 EAST 63RD ST APT PHAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10065ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
DAVID LIPTAK
26 EAST 63RD ST APT PHNEW YORKNY10065DIRECTOR0.50$0$0$0
JANETTE LIPTAK
26 EAST 63RD ST APT PHNEW YORKNY10065DIRECTOR0.50$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$2,444,133AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$805,031AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,249,164TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$3,249,164AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$48,737CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,200,427NetVlNoncharitableAssetsAmt
Minimum Investment Return$160,021MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$160,021MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,384TaxBasedOnInvestmentIncomeAmt
Total Tax$1,384TotalTaxAmt
Distributable Before Adj$158,637DistributableBeforeAdjAmt
Recoveries Qualfied Distri$0RecoveriesQualfiedDistriAmt
Distributable Before Ded$158,637DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$158,637DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$190,890ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$190,890QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$158,637DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$53,609ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$261,938ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr2$82,271ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$231,570ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$629,388TotalExcessDistributionCyovAmt
Qualifying Distributions$190,890QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$158,637AppliedToCurrentYearAmt
Remaining Distri From Corpus$32,253RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$661,641TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$53,609ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$608,032ExcessDistriCyovToNextYrAmt
Excess From Year4$261,938ExcessFromYear4Amt
Excess From Year2$82,271ExcessFromYear2Amt
Excess From Year1$231,570ExcessFromYear1Amt
Excess From Current Year$32,253ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
BROWNING SCHOOL
52 EAST 62ND STREETNEW YORKNY10065PCEDUCATIONAL$52,590
CROSSING THRESHHOLDS
168 A IRVING AVENUEPORT CHESTERNY10573PCEDUCATIONAL$30,000
HERITAGE FOUNDATION
214 MASSACHUSETTS AVE NEWASHINGTON DCDC20002PCPUBLIC POLICY$8,300
MARYMOUNT SCHOOL
1026 5TH AVENUENEW YORKNY10028PCEDUCATION$50,000
ONE PLYMPTON PRESERVATION FUND
1 UNION STREET SUITE 302PORTLANDME04101PCHISTORIC PRESERVATION$50,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$190,890TotalGrantOrContriPdDurYrAmt
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$56,620ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$44,566ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$101,186ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$101,186TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$3,185Amt
Net Investment Income$1,592NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Expln Of Non Filing With AG Stmt ExplnOfNonFilingWithAGStmt

FieldValueIRS element (for citing)
ExplanationTHE DELAWARE ATTORNEY GENERAL DOES NOT REQUIRE THE FILING OF A COPY OF THE ORGANIZATION'S FEDERAL FORM 990-PF.ExplanationTxt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp

FieldValueIRS element (for citing)
BondCORPORATE NOTESBondNm
EOY Book Value$2,428,707EOYBookValueAmt
EOYFMV$2,428,707EOYFMVAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescUNREALIZED GAIN/LOSS ON SECURITIESDesc
EOY Book Value$8,197EOYBookValueAmt
EOYFMV$8,197EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescDUESDesc
Revenue And Expenses Per Books$173RevenueAndExpensesPerBooksAmt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescUNREALIZED GAIN ON SECURITIESDesc
Amt$8,197Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL EXCISE TAXCategoryTxt
Amt$3,421Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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