The Klungness Family Foundation Inc: Form 990PF, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
The Klungness Family Foundation Inc (EIN 01-0791882)
Tax period
2013-01-01 to 2013-12-31
Filed
2014-08-07
IRS object ID
201442199349100724
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)
Return2014-08-07T15:44:58-05:00ReturnTs
Tax Period End2013-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1
CityLake SuccessCity
StateNYState
ZIP Code11042ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2013-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN010791882EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Klungness Family Foundation IncBusinessNameLine1
FieldValueIRS element (for citing)
In Care Of% c/o Foundation SourceInCareOfNm
Business Name ControlKLUNBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1
Address Line2Suite 123AddressLine2
CityWilmingtonCity
StateDEState
ZIP Code198091377ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJames A KlungnessPersonNm
Person TitlePresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2014-07-14SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2013TaxYr
Build TS2015-12-30 17:16:21ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$271,916FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$2,956DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,956DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$12,903NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$12,903GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$12,903CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$15,859TotalRevAndExpnssAmt
Total Net Invst Incm$15,859TotalNetInvstIncmAmt
Taxes Rev And Expnss$188TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$5,712OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$5,712OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$5,900TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,712TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$8,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$8,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$13,900TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$13,712TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$1,959ExcessRevenueOverExpensesAmt
Net Investment Income$15,859NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$15,555SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$17,514SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$17,514SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$221,246CorporateStockBOYAmt
Corporate Stock EOY$221,246CorporateStockEOYAmt
Corporate Stock EOYFMV$254,402CorporateStockEOYFMVAmt
Total Assets BOY$236,801TotalAssetsBOYAmt
Total Assets EOY$238,760TotalAssetsEOYAmt
Total Assets EOYFMV$271,916TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$236,801RetainedEarningBOYAmt
Retained Earning EOY$238,760RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$236,801TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$238,760TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$236,801TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$238,760TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$236,801TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$1,959ExcessRevenueOverExpensesAmt
Subtotal$238,760SubtotalAmt
Tot Net Ast Or Fund Balances EOY$238,760TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$12,903GrossSalesPriceAmt
Gain Or Loss$12,903GainOrLossAmt
Gains Minus Excess Or Losses$12,903GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$12,903CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$13,665AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$232,285NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.058829DistributionYr1Rt
Adjusted Qlfy Distri Yr2$6,392AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$234,817NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.027221DistributionYr2Rt
Adjusted Qlfy Distri Yr3$13,946AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$222,193NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.062765DistributionYr3Rt
Adjusted Qlfy Distri Yr4$12,826AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$198,556NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.064596DistributionYr4Rt
Adjusted Qlfy Distri Yr5$13,825AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$240,277NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.057538DistributionYr5Rt
Total Distribution0.270949TotalDistributionRt
Average Distribution0.05419AverageDistributionRt
Net Vl Noncharitable Assets$256,900NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$13,921AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$159NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$14,080AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$13,712QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$317InvestmentIncomeExciseTaxAmt
Subtotal$317SubtotalAmt
Tax Based On Investment Income$317TaxBasedOnInvestmentIncomeAmt
Applied To Es Tax$317AppliedToEsTaxAmt
Total Payments And Credits$317TotalPaymentsAndCreditsAmt

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 StateDEOrgReportOrRegisterStateCd
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

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1co Foundation SourceBusinessNameLine1
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1
CityWilmingtonCity
StateDEState
ZIP Code198091377ZIPCode
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

FieldValueIRS element (for citing)
PersonJames A KlungnessPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1
CityWilmingtonCity
StateDEState
ZIP Code198091377ZIPCode
FieldValueIRS element (for citing)
TitlePres / Dir / SecTitleTxt
Average Hrs Per Wk Devoted To Pos1.0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$247,549AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$13,263AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$260,812TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$260,812AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$3,912CashDeemedCharitableAmt
Net Vl Noncharitable Assets$256,900NetVlNoncharitableAssetsAmt
Minimum Investment Return$12,845MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$12,845MinimumInvestmentReturnAmt
Tax Based On Investment Income$317TaxBasedOnInvestmentIncomeAmt
Total Tax$317TotalTaxAmt
Distributable Before Adj$12,528DistributableBeforeAdjAmt
Distributable Before Ded$12,528DistributableBeforeDedAmt
Distributable As Adjusted$12,528DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$13,712ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$13,712QualifyingDistributionsAmt
Adjusted Qualifying Distri$13,712AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$12,528DistributableAsAdjustedAmt
Undistributed Income PY$8,784UndistributedIncomePYAmt
Prior Year12011PriorYear1Yr
Prior Year22010PriorYear2Yr
Prior Year32009PriorYear3Yr
Qualifying Distributions$13,712QualifyingDistributionsAmt
Applied To Year1$8,784AppliedToYear1Amt
Applied To Current Year$4,928AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$7,600UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJAMES A KLUNGNESSContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1CityRecipientUSAddress/CityStateRecipientUSAddress/StateZIP CodeRecipientUSAddress/ZIPCodeRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
BAY CLIFF HEALTH CAMP
PO BOX 310BIG BAYMI49808N/APCGeneral & Unrestricted$1,000
CARING HOUSE INC
1305 PROSPECT AVEIRON MOUNTAINMI49801N/APCGeneral & Unrestricted$3,000
FINLANDIA UNIVERSITY
601 QUINCY STHANCOCKMI49930N/APCGeneral & Unrestricted$2,000
PINE MOUNTAIN MUSIC FESTIVAL INC
PO BOX 406HANCOCKMI49930N/APCGeneral & Unrestricted$2,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$8,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$2,956ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$12,903ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$15,859ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$15,859TotalIncomeProducingActyAmt

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

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (9 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
COHEN & STEERS RLTY INCM INC N$8,279$7,348
EAGLE SER TR MID CAP STK FD CL$37,245$39,057
HARBOR FDS INTL FD$28,920$38,695
JP MORGAN CORE BOND FUND$27,821$29,728
JP MORGAN SMALL CAP EQUITY INS$33,628$53,537
JPMORGAN HIGH YIELD BOND FUND$12,662$12,339
JPMORGAN MULTI CAP-MARKET NEUT$19,214$18,360
MARSICO INVT FD FOCUS FD*$36,628$39,926
TEMPLETON DEVELOPING MARKETS T$16,849$15,412

Investments Land Schedule2 InvestmentsLandSchedule2

Land Etc Schedule2 LandEtcSchedule2

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$5,687$5,687
State or Local Filing Fees$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Extension for 2012CategoryTxt
Amt$188Amt

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