KAREN AND RICK HARGROVE FOUNDATION: Form 990PF, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- KAREN AND RICK HARGROVE FOUNDATION (EIN 77-0587271)
- Tax period
- 2013-07-01 to 2014-06-30
- Filed
- 2014-10-15
- IRS object ID
- 201412889349100606
- Schema version
- 2013v3.1
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2014-10-15T08:30:47-07:00 | ReturnTs |
| Tax Period End | 2014-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | McGilloway Ray Brown & Kaufman | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2511 Garden Road Suite A-180 | AddressLine1 |
| City | Monterey | City |
| State | CA | State |
| ZIP Code | 939405381 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2013-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 770587271 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAREN & RICK HARGROVE FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | KARE | BusinessNameControlTxt |
| Phone | 8317222244 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 OCEANVIEW DRIVE | AddressLine1 |
| City | LA SELVA BEACH | City |
| State | CA | State |
| ZIP Code | 95076 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICHARD HARGROVE | PersonNm |
| Person Title | PRESIDENT & DIR | PersonTitleTxt |
| Signature | 2014-10-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Larry W Rollins CPA | PreparerPersonNm |
| PTIN | P00095037 | PTIN |
| Phone | 8313733337 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2013 | TaxYr |
| Build TS | 2015-12-30 17:16:21Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $422,825 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $7,820 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $7,820 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $55,025 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $56,349 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $55,025 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $62,845 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $62,845 | TotalNetInvstIncmAmt |
| Accounting Fees Rev And Expnss | $735 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $735 | AccountingFeesNetInvstIncmAmt |
| Taxes Rev And Expnss | $3,106 | TaxesRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $25 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $3,866 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $735 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $3,866 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $735 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $0 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $58,979 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $62,110 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $82,132 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $142,434 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $142,434 | SavAndTempCashInvstEOYFMVAmt |
| Corporate Stock BOY | $95,678 | CorporateStockBOYAmt |
| Corporate Stock EOY | $94,355 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $280,391 | CorporateStockEOYFMVAmt |
| Total Assets BOY | $177,810 | TotalAssetsBOYAmt |
| Total Assets EOY | $236,789 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $422,825 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $73 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $73 | AccountsPayableEOYAmt |
| Total Liabilities BOY | $73 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $73 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
| Retained Earning BOY | $177,737 | RetainedEarningBOYAmt |
| Retained Earning EOY | $236,716 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $177,737 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $236,716 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $177,810 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $236,789 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $177,737 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $58,979 | ExcessRevenueOverExpensesAmt |
| Subtotal | $236,716 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $236,716 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $55,025 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Net Vl Noncharitable Assets Yr1 | $317,722 | NetVlNoncharitableAssetsYr1Amt |
| Adjusted Qlfy Distri Yr2 | $70,000 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $340,048 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.20585 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $25,000 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $339,924 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.07355 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $100,000 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $391,616 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.25535 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $55,000 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $218,574 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.25163 | DistributionYr5Rt |
| Total Distribution | 0.78638 | TotalDistributionRt |
| Average Distribution | 0.15728 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $382,184 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $60,108 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $621 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $60,729 | AdjNonchrtblNetInvstIncmPctAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $1,242 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $1,242 | SubtotalAmt |
| Tax Based On Investment Income | $1,242 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $1,560 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $1,560 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $5 | EsPenaltyAmt |
| Overpayment | $313 | OverpaymentAmt |
| Applied To ES Tax | $313 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | false | Form990TFiledInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | CA | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGILLOWAY RAY BROWN & KAUFM | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8313733337 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2511 GARDEN RD SUITE A-180 | AddressLine1 |
| City | MONTEREY | City |
| State | CA | State |
| ZIP Code | 93940 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Undistr Incm Sect4942a2 Not App | false | UndistrIncmSect4942a2NotAppInd |
| Business Holdings | false | BusinessHoldingsInd |
| Excess Business Holdings | false | ExcessBusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | false | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | false | MaintainedExpenditureRspnsInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Proceeds Or Net Income | false | ProceedsOrNetIncomeInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| RICHARD HARGROVE | ||||||
| 100 OCEANVIEW DRIVE | LA SELVA BEACH | CA | 95067 | PRESIDENT & DIR | 8.00 | $0 |
| KAREN HARGROVE | ||||||
| 100 OCEANVIEW DRIVE | LA SELVA BEACH | CA | 95067 | TREASURER | 8.00 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $275,027 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $112,977 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $388,004 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $388,004 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $5,820 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $382,184 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $19,109 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $19,109 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $1,242 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $1,242 | TotalTaxAmt |
| Distributable Before Adj | $17,867 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $17,867 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $17,867 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $0 | ExpensesAndContributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $17,867 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr5 | $1,119 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $80,494 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $8,123 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $53,071 | ExcessDistributionCyovYr2Amt |
| Total Excess Distribution Cyov | $142,807 | TotalExcessDistributionCyovAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $17,867 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $17,867 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $124,940 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $124,940 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $63,746 | ExcessFromYear4Amt |
| Excess From Year3 | $8,123 | ExcessFromYear3Amt |
| Excess From Year2 | $53,071 | ExcessFromYear2Amt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | RICHARD HARGROVE | ContributingManagerNm |
| Contributing Manager | KAREN HARGROVE | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $7,820 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $55,025 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $62,845 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $62,845 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | MCGILLOWAY, RAY, BROWN & KAUFMAN | CategoryTxt |
| Amt | $735 | Amt |
| Net Investment Income | $735 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ATTORNEY GENERAL REGHARITABLE TRUS | Desc |
| Revenue And Expenses Per Books | $25 | RevenueAndExpensesPerBooksAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (4 entries)
| CategoryCategoryTxt | AmtAmt |
|---|---|
| FEDERAL TAX - 2012 | $1,536 |
| FEDERAL TAX - 2013 EST | $1,170 |
| FEDERAL TAX - 2013 EST | $390 |
| FRANCHISE TAX BOARD - 199 | $10 |