The Drake Foundation: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
The Drake Foundation (EIN 62-1684643)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-08-11
IRS object ID
201532249349100308
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)
Return2015-08-11T16:31:51-05:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN454110923PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DELBROCCO & ASSOCIATES PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14735 SPOTTSWOOD SUITE 201AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38117ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN621684643EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE DRAKE FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlDRAKBusinessNameControlTxt
Phone9012215220PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1482 HALLE PARK DRIVE SUITE 101AddressLine1Txt
CityCOLLIERVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDARIN DRAKEPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone9012215220PhoneNum
Signature2015-08-11SignatureDt

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonPETER F VOEHRINGERPreparerPersonNm
PTINP00846402PTIN
Phone9016819272PhoneNum
Preparation2015-08-11PreparationDt
Self EmployedYes (X)SelfEmployedInd
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$557,408FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$236,283ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$2,978InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$2,978InterestOnSavNetInvstIncmAmt
Total Rev And Expnss$239,261TotalRevAndExpnssAmt
Total Net Invst Incm$2,978TotalNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$251,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$251,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$251,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$251,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$11,739ExcessRevenueOverExpensesAmt
Net Investment Income$2,978NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$569,147SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$557,408SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$557,408SavAndTempCashInvstEOYFMVAmt
Total Assets BOY$569,147TotalAssetsBOYAmt
Total Assets EOY$557,408TotalAssetsEOYAmt
Total Assets EOYFMV$557,408TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$569,147RetainedEarningBOYAmt
Retained Earning EOY$557,408RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$569,147TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$557,408TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$569,147TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$557,408TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$569,147TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$11,739ExcessRevenueOverExpensesAmt
Subtotal$557,408SubtotalAmt
Tot Net Ast Or Fund Balances EOY$557,408TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$305,652AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$477,871NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.639612DistributionYr1Rt
Adjusted Qlfy Distri Yr2$336,600AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$498,021NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.675875DistributionYr2Rt
Adjusted Qlfy Distri Yr3$76,000AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$376,927NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.201631DistributionYr3Rt
Adjusted Qlfy Distri Yr4$305,800AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$317,031NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.964574DistributionYr4Rt
Adjusted Qlfy Distri Yr5$118,700AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$329,412NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.360339DistributionYr5Rt
Total Distribution2.842031TotalDistributionRt
Average Distribution0.568406AverageDistributionRt
Net Vl Noncharitable Assets$491,356NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$279,290AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$30NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$279,320AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$251,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$60InvestmentIncomeExciseTaxAmt
Subtotal$60SubtotalAmt
Tax Based On Investment Income$60TaxBasedOnInvestmentIncomeAmt
Tax Due$60TaxDueAmt

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 StateTNOrgReportOrRegisterStateCd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1DARIN DRAKEBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9012215220PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1482 HALLE PARK DRIVE SUITE 101AddressLine1Txt
CityCOLLIERVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
PANSY L DRAKE DECEASED
482 HALLE PARK DRIVE SUITE 101MEMPHISTN38017PRESIDENT/BO15.00$0$0$0
DARIN DRAKE
482 HALLE PARK DRIVE SUITE 101MEMPHISTN38017SECRETARY/BO5.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$498,839AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$498,839TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$498,839AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$7,483CashDeemedCharitableAmt
Net Vl Noncharitable Assets$491,356NetVlNoncharitableAssetsAmt
Minimum Investment Return$24,568MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$24,568MinimumInvestmentReturnAmt
Tax Based On Investment Income$60TaxBasedOnInvestmentIncomeAmt
Total Tax$60TotalTaxAmt
Distributable Before Adj$24,508DistributableBeforeAdjAmt
Distributable Before Ded$24,508DistributableBeforeDedAmt
Distributable As Adjusted$24,508DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$251,000ExpensesAndContributionsAmt
Qualifying Distributions$251,000QualifyingDistributionsAmt
Adjusted Qualifying Distri$251,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$24,508DistributableAsAdjustedAmt
Excess Distribution Cyov Yr2$311,826ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$281,838ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$593,664TotalExcessDistributionCyovAmt
Qualifying Distributions$251,000QualifyingDistributionsAmt
Applied To Current Year$24,508AppliedToCurrentYearAmt
Remaining Distri From Corpus$226,492RemainingDistriFromCorpusAmt
Total Corpus$820,156TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$820,156ExcessDistriCyovToNextYrAmt
Excess From Year2$311,826ExcessFromYear2Amt
Excess From Year1$281,838ExcessFromYear1Amt
Excess From Current Year$226,492ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonDARIN DRAKERecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1482 HALLE PARK DRIVE SUITE 101AddressLine1Txt
CityCOLLIERVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd
FieldValueIRS element (for citing)
Recipient Phone9012211524RecipientPhoneNum
Form And Info And MaterialsN/AFormAndInfoAndMaterialsTxt
Submission DeadlinesN/ASubmissionDeadlinesTxt
Restrictions On AwardsN/ARestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (8 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtRecipient Foundation StatusRecipientFoundationStatusTxt
HOUSTON HIGH SCHOOL BAND
9755 WOLF RIVER BLVDGERMANTOWNTN38139NONEFURTHER EXEMPT PURPOSE$500
PASTORAL LEADERSHIP INSTITUTE
PO BOX 972WHEATONIL601870972NONEFURTHER EXEMPT PURPOSE$200,000
FOOD FOR THE POOR
6401 LYONS ROADCOCONUT CREEKFL33073NONEFURTHER EXEMPT PURPOSE$15,000
OWENSBORO POLICE DEPT
222 EAST NINTH STREETOWENSBOROKY42302NONEFURTHER EXEMPT PURPOSE$3,000OTHER PUBLIC
FAMILY VIOLENCE COUNCIL
PO BOX 1841COLLIERVILLETN38027NONEFURTHER EXEMPT PURPOSE$5,000OTHER PUBLIC
OUR REDEEMER LUTHERAN CHURCH
1745 CLINTON-RAYMOND RDCLINTONMS39056NONEFURTHER EXEMPT PURPOSE$2,500OTHER PUBLIC
FAITH LUTHERAN CHURCH
507 N BYHALIA ROADCOLLIERVILLETN38017NONEFURTHER EXEMPT PURPOSE$20,000OTHER PUBLIC
HEIFER INTERNATIONAL
1 WORLD AVENUELITTLE ROCKAR72202NONEFURTHER EXEMPT PURPOSE$5,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$251,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion2ExclusionCd
Exclusion$2,978ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$2,978ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$2,978TotalIncomeProducingActyAmt

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 Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1DRAKE INDUSTRIES LLCBusinessNameLine1Txt

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1482 HALLE PARK DRIVE SUITE 101AddressLine1Txt
CityCOLLIERVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP380177089ZIPCd
FieldValueIRS element (for citing)
Total Contributions$236,283TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDesc
EXPENSES
BANK CHARGES

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1DRAKE INDUSTRIES LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1482 HALLE PARK DRIVE SUITE 101AddressLine1Txt
CityCOLLIERVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP38017ZIPCd

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