HAROLD AND PATRICIA KORELL FOUNDATION: Form 990PF, tax year 2013

View the entire original 990 at ProPublica ↗

Organization: HAROLD AND PATRICIA KORELL FOUNDATION (EIN 27-1507283)
Tax period: 2013-01-01 to 2013-12-31
Filed: 2014-05-01
IRS object ID: 201421219349101362
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
Form 990-PF
Investments Corp Stock Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2014-05-01T14:59:04-07:00	ReturnTs
Tax Period End	2013-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	Roger Goddard CPA PC	BusinessNameLine1

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	3100 Timmons Lane Suite 440	AddressLine1
City	Houston	City
State	TX	State
ZIP Code	77027	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2013-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	271507283	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	The Harold and Patricia Korell Foundation	BusinessNameLine1

Field	Value	IRS element (for citing)
Business Name Control	HARO	BusinessNameControlTxt
Phone	7135222293	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3333 Allen Pkwy Unit 2708	AddressLine1
City	Houston	City
State	TX	State
ZIP Code	77019	ZIPCode

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	HAROLD M KORELL	PersonNm
Person Title	PRESIDENT	PersonTitleTxt
Phone	7135222293	PhoneNum
Signature	2014-04-29	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	ROGER D GODDARD	PreparerPersonNm
Phone	7136225088	PhoneNum
Preparation	2014-04-29	PreparationDt

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	$4,785,491	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
Interest On Sav Rev And Expnss	$66	InterestOnSavRevAndExpnssAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$66	TotalRevAndExpnssAmt
Total Net Invst Incm	$0	TotalNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss	$0	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$219,000	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$219,000	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$219,000	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$219,000	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$218,934	ExcessRevenueOverExpensesAmt
Net Investment Income	$0	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$518,131	CashBOYAmt
Cash EOY	$299,197	CashEOYAmt
Cash EOYFMV	$299,197	CashEOYFMVAmt
Corporate Stock BOY	$5,751,309	CorporateStockBOYAmt
Corporate Stock EOY	$5,751,309	CorporateStockEOYAmt
Corporate Stock EOYFMV	$4,486,294	CorporateStockEOYFMVAmt
Total Assets BOY	$6,269,440	TotalAssetsBOYAmt
Total Assets EOY	$6,050,506	TotalAssetsEOYAmt
Total Assets EOYFMV	$4,785,491	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117	Yes (X)	OrgDoesNotFollowSFAS117Ind
Retained Earning BOY	$6,269,440	RetainedEarningBOYAmt
Retained Earning EOY	$6,050,506	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$6,269,440	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$6,050,506	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$6,269,440	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$6,050,506	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$6,269,440	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$218,934	ExcessRevenueOverExpensesAmt
Subtotal	$6,050,506	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$6,050,506	TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Field	Value	IRS element (for citing)
Liable Section4942 Tax	false	LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1	$219,000	AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1	$4,345,478	NetVlNoncharitableAssetsYr1Amt
Distribution Yr1	0.050397	DistributionYr1Rt
Adjusted Qlfy Distri Yr2	$201,250	AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2	$5,430,994	NetVlNoncharitableAssetsYr2Amt
Distribution Yr2	0.037056	DistributionYr2Rt
Adjusted Qlfy Distri Yr3	$358,627	AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3	$5,662,937	NetVlNoncharitableAssetsYr3Amt
Distribution Yr3	0.063329	DistributionYr3Rt
Net Vl Noncharitable Assets Yr4	$7,563,000	NetVlNoncharitableAssetsYr4Amt
Distribution Yr4	0.000000	DistributionYr4Rt
Total Distribution	0.150782	TotalDistributionRt
Average Distribution	0.037696	AverageDistributionRt
Net Vl Noncharitable Assets	$4,628,318	NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets	$174,469	AdjNetVlNoncharitableAssetsAmt
Adj Nonchrtbl Net Invst Incm Pct	$174,469	AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions	$219,000	QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Domestic Org Meeting Sect4940e	Yes (X)	DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax	$0	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Applied To ES Tax	$0	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
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	TX	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
Individual With Books	HAROLD KORELL	IndividualWithBooksNm
Phone	7135222293	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	3333 Allen Parkway 2708	AddressLine1
City	Houston	City
State	TX	State
ZIP Code	77019	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
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
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
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
HAROLD M KORELL
3333 Allen Parkway 2708	Houston	TX	77019	P/Director	1.00	$0	$0	$0
PATRICIA KORELL
3333 Allen Parkway 2708	Houston	TX	77019	Sec/Director	1.00	$0	$0	$0
ROGER D GODDARD
3100 Timmons Lane 440	Houston	TX	77027	Tre/Director	0	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$4,198,178	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$500,622	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$4,698,800	TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast	$4,698,800	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$70,482	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$4,628,318	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$231,416	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$231,416	MinimumInvestmentReturnAmt
Distributable Before Adj	$231,416	DistributableBeforeAdjAmt
Distributable Before Ded	$231,416	DistributableBeforeDedAmt
Distributable As Adjusted	$231,416	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$219,000	ExpensesAndContributionsAmt
Qualifying Distributions	$219,000	QualifyingDistributionsAmt
Adjusted Qualifying Distri	$219,000	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$231,416	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr3	$9,363	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr1	$1,725	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$11,088	TotalExcessDistributionCyovAmt
Qualifying Distributions	$219,000	QualifyingDistributionsAmt
Applied To Current Year	$219,000	AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus	$11,088	ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY	$11,088	ExcessDistributionCyovAppCYAmt
Undistributed Income CY	$1,328	UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	HAROLD M KORELL AND PATRICIA KORELL	ContributingManagerNm
Contributing Manager	TRADED SECURITIES WITH A MARKET VAL	ContributingManagerNm
Contributing Manager	HAROLD M KORELL AND PATRICIA KORELL	ContributingManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

Field	Value	IRS element (for citing)
Recipient Person	HAROLD KORELL	RecipientPersonNm

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	3333 Allen Parkway 2708	AddressLine1
City	Houston	City
State	TX	State
ZIP Code	77019	ZIPCode

Field	Value	IRS element (for citing)
Recipient Phone	7135222293	RecipientPhoneNum
Form And Info And Materials	WRITTEN REQUEST INCLUDING BROCHURE ON ORGANIZATION	FormAndInfoAndMaterialsTxt
Submission Deadlines	NONE	SubmissionDeadlinesTxt
Restrictions On Awards	NONE	RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)

Address Line1RecipientUSAddress/AddressLine1	CityRecipientUSAddress/City	StateRecipientUSAddress/State	ZIP CodeRecipientUSAddress/ZIPCode	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
Billings Clinic Foundation
2917 Tenth Avenue North	Billings	MT	59107	N.A.	ServicesGeriatric	$76,000
Absarokee Volunteer Fire Department
PO Box 743	Absarokee	MT	59001	N.A.	department inVolunteer firesmall community	$1,000
Berlin Volunteer Fire Department
PO Box 580	Berlin	ND	58415	N.A.	department inVolunteer firesmall community	$500
Word to Russia
PO Box 1521	W Sacramento	CA	956911521	N.A.	gospel to theSending theformer Soviet Union	$1,000
Men With a Purpose
3060 Sounding Dr	Edgewood	MD	210402906	N.A.	ministry providingChurch consultingcoaching and counseling	$2,000
Colorado School of Mines Foundation
PO Box 4005	Golden	CO	804024005	N.A.	institutionEducational	$120,032
Seal-NSW Family Foundation
4320 La Jolla Village Drive Suite 2	San Diego	CA	92122	N.A.	Naval SpecialSupport families ofWarfare operators	$18,468

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$219,000	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$66	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Exclusion	$66	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$66	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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

Field	Value	IRS element (for citing)
Stock	Southwestern Energy Co. - 114,068 shares (value at time of receipt	StockNm
EOY Book Value	$5,751,309	EOYBookValueAmt
EOYFMV	$4,486,294	EOYFMVAmt

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