BETA

HAROLD AND PATRICIA KORELL FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
HAROLD AND PATRICIA KORELL FOUNDATION (EIN 27-1507283)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-03-17
IRS object ID
201540769349100804
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)
Return2015-03-17T15:54:13-07:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Roger Goddard CPA PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13100 Timmons Lane Suite 440AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77027ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN271507283EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Harold and Patricia Korell FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlHAROBusinessNameControlTxt
Phone7135222293PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Pkwy Unit 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHAROLD M KORELLPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone7135222293PhoneNum
Signature2015-03-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonROGER D GODDARDPreparerPersonNm
Phone7136225088PhoneNum
Preparation2015-03-17PreparationDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-04-25 22:37:26ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,187,126FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$13InterestOnSavRevAndExpnssAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$13TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
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$225,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$225,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$225,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$225,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$224,987ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$299,197CashBOYAmt
Sav And Temp Cash Invst EOY$74,210SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$74,210SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$5,751,309CorporateStockBOYAmt
Corporate Stock EOY$5,751,309CorporateStockEOYAmt
Corporate Stock EOYFMV$3,112,916CorporateStockEOYFMVAmt
Total Assets BOY$6,050,506TotalAssetsBOYAmt
Total Assets EOY$5,825,519TotalAssetsEOYAmt
Total Assets EOYFMV$3,187,126TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$6,050,506RetainedEarningBOYAmt
Retained Earning EOY$5,825,519RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$6,050,506TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$5,825,519TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$6,050,506TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$5,825,519TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$6,050,506TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$224,987ExcessRevenueOverExpensesAmt
Subtotal$5,825,519SubtotalAmt
Tot Net Ast Or Fund Balances EOY$5,825,519TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$219,000AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$4,628,318NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.047317DistributionYr1Rt
Adjusted Qlfy Distri Yr2$219,000AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$4,345,478NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.050397DistributionYr2Rt
Adjusted Qlfy Distri Yr3$201,250AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$5,430,994NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.037056DistributionYr3Rt
Adjusted Qlfy Distri Yr4$358,627AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$5,662,937NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.063329DistributionYr4Rt
Net Vl Noncharitable Assets Yr5$7,563,000NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.000000DistributionYr5Rt
Total Distribution0.198099TotalDistributionRt
Average Distribution0.039620AverageDistributionRt
Net Vl Noncharitable Assets$4,779,796NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$189,376AdjNetVlNoncharitableAssetsAmt
Adj Nonchrtbl Net Invst Incm Pct$189,376AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$225,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 StateTXOrgReportOrRegisterStateCd
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
Website AddressN/AWebsiteAddressTxt
Individual With BooksHAROLD KORELLIndividualWithBooksNm
Phone7135222293PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Parkway 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd
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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
HAROLD M KORELL
3333 Allen Parkway 2708HoustonTX77019P/Director1.00$0$0$0
PATRICIA KORELL
3333 Allen Parkway 2708HoustonTX77019Sec/Director1.00$0$0$0
ROGER D GODDARD
3100 Timmons Lane 440HoustonTX77027Tre/Director0$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

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$4,568,804AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$283,781AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,852,585TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$4,852,585AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$72,789CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,779,796NetVlNoncharitableAssetsAmt
Minimum Investment Return$238,990MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$238,990MinimumInvestmentReturnAmt
Distributable Before Adj$238,990DistributableBeforeAdjAmt
Distributable Before Ded$238,990DistributableBeforeDedAmt
Distributable As Adjusted$238,990DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$225,000ExpensesAndContributionsAmt
Qualifying Distributions$225,000QualifyingDistributionsAmt
Adjusted Qualifying Distri$225,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$238,990DistributableAsAdjustedAmt
Undistributed Income PY$1,328UndistributedIncomePYAmt
Qualifying Distributions$225,000QualifyingDistributionsAmt
Applied To Year1$1,328AppliedToYear1Amt
Applied To Current Year$223,672AppliedToCurrentYearAmt
Undistributed Income CY$15,318UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerHAROLD M KORELL AND PATRICIA KORELLContributingManagerNm
Contributing ManagerTRADED SECURITIES WITH A MARKET VALContributingManagerNm
Contributing ManagerHAROLD M KORELL AND PATRICIA KORELLContributingManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonHAROLD KORELLRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line13333 Allen Parkway 2708AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77019ZIPCd
FieldValueIRS element (for citing)
Recipient Phone7135222293RecipientPhoneNum
Form And Info And MaterialsWRITTEN REQUEST INCLUDING BROCHURE ON ORGANIZATIONFormAndInfoAndMaterialsTxt
Submission DeadlinesNONESubmissionDeadlinesTxt
Restrictions On AwardsNONERestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Billings Clinic Foundation
2917 Tenth Avenue NorthBillingsMT59107N.A.ServicesGeriatric$55,000
Common Sense Alliance
Post Office Box 1249Friday HarborWA98250N.A.about proposedInform communityland use regulations$10,000
Scott & White Healthcare Foundation
700 Medical ParkwayBrenhamTX77833N.A.care facilitySupport health$5,000
Baylor College of Medicine
One Baylor PlazaHoustonTX770303411N.A.facilityHealth care$5,000
Colorado School of Mines Foundation
PO Box 4005GoldenCO804024005N.A.institutionEducational$150,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$225,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$13ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$13ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$13TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSouthwestern Energy Co. - 114,068 shares (value at time of receiptStockNm
EOY Book Value$5,751,309EOYBookValueAmt
EOYFMV$3,112,916EOYFMVAmt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.