LIBERTY FOUNDATION INC: Form 990, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
LIBERTY FOUNDATION INC (EIN 72-1249256)
Tax period
2013-01-01 to 2013-12-31
Filed
2014-11-14
IRS object ID
201433189349307628
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

FieldValueIRS element (for citing)
Return2014-11-14T14:52:31-06:00ReturnTs
Tax Period End2013-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN720877929PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BRUNO & TERVALON LLP CPASBusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14298 ELYSIAN FIELDS AVEAddressLine1
CityNEW ORLEANSCity
StateLAState
ZIP Code70122ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2013-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN721249256EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LIBERTY FOUNDATION INCBusinessNameLine1
FieldValueIRS element (for citing)
Business Name ControlLIBEBusinessNameControlTxt
Phone5042405264PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 60131AddressLine1
CityNEW ORLEANSCity
StateLAState
ZIP Code701600131ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonALDEN J MCDONALDPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone5042405264PhoneNum
Signature2014-11-13SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonWALDO J MORET JRPreparerPersonNm
PTINP01239199PTIN
Phone5042848733PhoneNum
Preparation2014-11-14PreparationDt
FieldValueIRS element (for citing)
Tax2013TaxYr
Build TS2015-11-30 17:44:51ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerALDEN J MCDONALDPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 60131AddressLine1
CityNEW ORLEANSCity
StateLAState
ZIP Code701600131ZIPCode
FieldValueIRS element (for citing)
Gross Receipts$497,152GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1993FormationYr
Legal Domicile StateLALegalDomicileStateCd
Activity Or MissionCOMMUNITY IMPROVEMENTActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent0VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$41,525PYContributionsGrantsAmt
CY Contributions Grants$95,315CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$30,066PYInvestmentIncomeAmt
CY Investment Income$53,725CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$71,591PYTotalRevenueAmt
CY Total Revenue$149,040CYTotalRevenueAmt
PY Grants And Similar Paid$71,055PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$32,033CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$16,431PYOtherExpensesAmt
CY Other Expenses$49,086CYOtherExpensesAmt
PY Total Expenses$87,486PYTotalExpensesAmt
CY Total Expenses$81,119CYTotalExpensesAmt
PY Revenues Less Expenses-$15,895PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$67,921CYRevenuesLessExpensesAmt
Total Assets BOY$1,143,366TotalAssetsBOYAmt
Total Assets EOY$1,273,904TotalAssetsEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,143,366NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,273,904NetAssetsOrFundBalancesEOYAmt
MissionCOMMUNITY IMPROVEMENTMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$55,485ExpenseAmt
Grant$32,033GrantAmt
DescDONATIONS TO VARIOUS COMMUNITY SCHOOLS,ORGANIZATIONS AND INDIVIDUALS.Desc
Total Program Service Expenses$55,485TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredfalseScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member0IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonLEROY WATTSPersonNm
Phone5042405102PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line17990 SCENIC HWYAddressLine1
CityBATON ROUGECity
StateLAState
ZIP Code70807ZIPCode
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
ALDEN J MCDONALD
PRES/SEC'Y.Yes (X)$0$0$0
RONALD BURNS
VICE-PRESIDEYes (X)$0$0$0
RUTH RAMSEY
VICE-PRESIDEYes (X)$0$0$0
LEROY WATTS
TREASURERYes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
Government Grants$75,315GovernmentGrantsAmt
All Other Contributions$20,000AllOtherContributionsAmt
Total Contributions$95,315TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$16,266TotalRevenueColumnAmt
Exclusion$16,266ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$385,571SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$348,112SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$37,459SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$37,459TotalRevenueColumnAmt
Related Or Exempt Func Income$37,459RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$149,040TotalRevenueColumnAmt
Related Or Exempt Func Income$37,459RelatedOrExemptFuncIncomeAmt
Exclusion$16,266ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$10,000TotalAmt
Program Services$10,000ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$22,033TotalAmt
Program Services$22,033ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$2,550TotalAmt
Management And General$2,550ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$20,026TotalAmt
Management And General$20,026ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$2,820TotalAmt
Management And General$2,820ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
AWARDS$23,000$23,000
MISC$452$452
FEES & LICENSES$238$238

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$81,119TotalAmt
Program Services$55,485ProgramServicesAmt
Management And General$25,634ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$347,969BOYAmt
EOY$114,184EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$106,686BOYAmt
EOY$25,000EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$96,114LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$96,114BOYAmt
EOY$96,114EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$592,597BOYAmt
EOY$1,038,606EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,143,366BOYAmt
EOY$1,273,904EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,143,366BOYAmt
EOY$1,273,904EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,143,366BOYAmt
EOY$1,273,904EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,143,366BOYAmt
EOY$1,273,904EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$67,921ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$62,617OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$8,220CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$100,743CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$188,400CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$41,525CurrentTaxYearMinus1YearAmt
Current Tax Year$95,310CurrentTaxYearAmt
Total$434,198TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$8,220CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$100,743CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$188,400CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$41,525CurrentTaxYearMinus1YearAmt
Current Tax Year$95,310CurrentTaxYearAmt
Total$434,198TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$105,830SubstantialContributorsTotAmt
Public Support Total170$328,368PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$14,248CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$13,333CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$13,225CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$15,472CurrentTaxYearMinus1YearAmt
Current Tax Year$16,266CurrentTaxYearAmt
Total$72,544TotalAmt
FieldValueIRS element (for citing)
Total Support$506,742TotalSupportAmt
Public Support CY1700.64800PublicSupportCY170Pct
Public Support PY1700.21840PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$96,114OtherCostOrOtherBasisAmt
Book Value$96,114BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$96,114TotalBookValueLandBuildingsAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedfalseGrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1ST AUGUSTINE HIGHBusinessNameLine1

US Address USAddress

FieldValueIRS element (for citing)
Address Line1LONDON AVEAddressLine1
CityNEW ORLEANSCity
StateLAState
ZIP Code70119ZIPCode
FieldValueIRS element (for citing)
Cash Grant$10,000CashGrantAmt
Purpose Of GrantEDUCATIONPurposeOfGrantTxt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeSCHOLARSHIPSGrantTypeTxt
Cash Grant$22,033CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE I, PAGE 1, PART I, LINE 2FormAndLineReferenceDesc
ExplanationTHE LIBERTY FOUNDATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS IS TO MAKE ANNUAL SITE VISITS. THE GRANT RECIPIENT IS ALSO REQUIRED TO PRESENT QUARTERLY PERFORMANCE REPORTS.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11BNO REVIEW WAS OR WILL BE CONDUCTED.
FORM 990, PAGE 6, PART VI, LINE 19NO DOCUMENTS AVAILABLE TO THE PUBLIC
FORM 990, PART XI, LINE 9UNREALIZED GAINS 62,617

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