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WALTER J GATTI FOUNDATION INC: Form 990PF, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
WALTER J GATTI FOUNDATION INC (EIN 59-3470290)
Tax period
2013-07-01 to 2014-06-30
Filed
2014-11-10
IRS object ID
201443149349100634
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)
Return2014-11-10T12:52:11-06:00ReturnTs
Tax Period End2014-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN593097255PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CEROW AND COMPANY CPAS PABusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11801 SARNO ROAD STE 3AddressLine1
CityMELBOURNECity
StateFLState
ZIP Code32935ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2013-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN593470290EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE WALTER J GATTI FOUNDATION INCBusinessNameLine1
FieldValueIRS element (for citing)
Business Name ControlWALTBusinessNameControlTxt
Phone3217733036PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12060 S PATRICK DRIVEAddressLine1
CityINDIAN HARBOUR BEACHCity
StateFLState
ZIP Code32937ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonWALTER J GATTIPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone3217733036PhoneNum
Signature2014-11-06SignatureDt

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMICHAEL S CEROW CPAPreparerPersonNm
PTINP00059837PTIN
Phone3212422511PhoneNum
Preparation2014-11-10PreparationDt
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$66,774FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$174,000ContriRcvdRevAndExpnssAmt
Total Rev And Expnss$174,000TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$790AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$790AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss$1,200OtherProfFeesRevAndExpnssAmt
Other Prof Fees Dsbrs Chrtbl$1,200OtherProfFeesDsbrsChrtblAmt
Other Expenses Rev And Expnss$50,293OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$50,293OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$52,283TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$52,283TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$63,375ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$63,375ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$115,658TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$115,658TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$58,342ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$7,565CashBOYAmt
Cash EOY$66,774CashEOYAmt
Cash EOYFMV$66,774CashEOYFMVAmt
Sav And Temp Cash Invst BOY$867SavAndTempCashInvstBOYAmt
Total Assets BOY$8,432TotalAssetsBOYAmt
Total Assets EOY$66,774TotalAssetsEOYAmt
Total Assets EOYFMV$66,774TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$8,432UnrestrictedBOYAmt
Unrestricted EOY$66,774UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$8,432TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$66,774TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$8,432TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$66,774TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$8,432TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$58,342ExcessRevenueOverExpensesAmt
Subtotal$66,774SubtotalAmt
Tot Net Ast Or Fund Balances EOY$66,774TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$127,376AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$28,216NetVlNoncharitableAssetsYr1Amt
Distribution Yr14.514318DistributionYr1Rt
Adjusted Qlfy Distri Yr2$162,690AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$23,967NetVlNoncharitableAssetsYr2Amt
Distribution Yr26.788084DistributionYr2Rt
Adjusted Qlfy Distri Yr3$260,667AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$142,470NetVlNoncharitableAssetsYr3Amt
Distribution Yr31.829627DistributionYr3Rt
Adjusted Qlfy Distri Yr4$75,672AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$94,251NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.802877DistributionYr4Rt
Adjusted Qlfy Distri Yr5$59,260AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$20,083NetVlNoncharitableAssetsYr5Amt
Distribution Yr52.950754DistributionYr5Rt
Total Distribution16.885660TotalDistributionRt
Average Distribution3.377132AverageDistributionRt
Net Vl Noncharitable Assets$105,334NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$355,727AdjNetVlNoncharitableAssetsAmt
Adj Nonchrtbl Net Invst Incm Pct$355,727AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$115,658QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt

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 StateFLOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksWALTER J GATTIIndividualWithBooksNm
Phone3217733036PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12060 S PATRICK DRIVEAddressLine1
CityINDIAN HARBOUR BEACHCity
StateFLState
ZIP Code32937ZIPCode
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
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/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
WALTER J GATTI
2060 S PATRICK DRIVEINDIAN HARBOUR BEACHFL32937PRESIDENT0.00$0$0$0
RICHARD C CEROW
1801 SARNO RD SUITE 3MELBOURNEFL32935TREASURER0.00$0$0$0
DALE A DETTMER
3040 S HARBOR CITY DR BLVD 201MELBOURNEFL32901SECRETARY0.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$106,938AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$106,938TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$106,938AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,604CashDeemedCharitableAmt
Net Vl Noncharitable Assets$105,334NetVlNoncharitableAssetsAmt
Minimum Investment Return$5,267MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$5,267MinimumInvestmentReturnAmt
Distributable Before Adj$5,267DistributableBeforeAdjAmt
Distributable Before Ded$5,267DistributableBeforeDedAmt
Distributable As Adjusted$5,267DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$115,658ExpensesAndContributionsAmt
Qualifying Distributions$115,658QualifyingDistributionsAmt
Adjusted Qualifying Distri$115,658AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$5,267DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$58,399ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$71,019ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$253,543ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$161,492ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$125,965ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$670,418TotalExcessDistributionCyovAmt
Qualifying Distributions$115,658QualifyingDistributionsAmt
Applied To Current Year$5,267AppliedToCurrentYearAmt
Remaining Distri From Corpus$110,391RemainingDistriFromCorpusAmt
Total Corpus$780,809TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$58,399ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$722,410ExcessDistriCyovToNextYrAmt
Excess From Year4$71,019ExcessFromYear4Amt
Excess From Year3$253,543ExcessFromYear3Amt
Excess From Year2$161,492ExcessFromYear2Amt
Excess From Year1$125,965ExcessFromYear1Amt
Excess From Current Year$110,391ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonWALTER J GATTIRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line12060 S PATRICK DRIVEAddressLine1
CityINDIAN HARBOUR DRIVECity
StateFLState
ZIP Code32937ZIPCode
FieldValueIRS element (for citing)
Recipient Phone3217733036RecipientPhoneNum
Form And Info And MaterialsDETAILED WRITTEN REQUEST TOGETHER WITH A COPY OF THE ORGANIZATION'S EXEMPTION LETTER.FormAndInfoAndMaterialsTxt
Submission DeadlinesON GOING SUBMISSIONS.SubmissionDeadlinesTxt
Restrictions On AwardsTHE FOUNDATION RESTRICTS GRANTS TO EDUCATIONAL INSTITUTIONS FOR SCHOLARSHIP PURPOSES: GRANTS TO MEDICAL RESEARCH ORGANIZATIONS & OTHER ORGANIZATIONS WITH SIMILAR GOALS.RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1CityRecipientUSAddress/CityStateRecipientUSAddress/StateZIP CodeRecipientUSAddress/ZIPCodeRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2
HEALTH FIRST FOUNDATION
1350 S HICKORY STMELBOURNEFL32901N/APUBLICHEART CENTER ENHANCEMENTS$21,375
VALIANT AIR COMMAND
6600 TICO RDTITUSVILLEFL32780N/APUBLICSUPPORT WARBIRD MUSEUM & AIRSHOW$10,000
AOPA FOUNDATION
421 AVIATION WAYFREDERICKMD21701N/APUBLICSAFER FUTURE FOR GENERAL AVIATION$25,000
FLORIDA TECH
150 W UNIVERSITY BLVDMELBOURNEFL32901N/APUBLICATHLETIC SCHOLARSHIPS$1,000
BREVARD ZOO
8225 N WICKHAM RDMELBOURNEFL32940N/APUBLICPUBLIC ZOO$150
SATELLITE HIGH SCHOOL
300 SCORPION CTSATELLITE BEACHFL32937N/APUBLICPUBLIC SCHOOL$300
CENTRAL FLORIDA BOY SCOUTS OF AM
1951 SOUTH ORANGE BLOSSOMAPOPKAFL32703N/APUBLICSUPPORT OF YOUTH BASED DEVELOPMENT$2,250STE 102
KLD KIDS
PO BOX 541272MERRITT ISLANDFL32954N/APUBLICINSPIRING HOPE/EDUCATING YOUTH$1,000
FLORIDA POLICE ATHLETIC LEAGUE
PO BOX 350399JACKSONVILLEFL32235N/APUBLICJUVENILE DELINQUENCY PREVENTION$500
ARAVA INSTITUTE FOR ENVIRONMENTAL
896 BEACON STREETBOSTONMA02215N/APUBLICEDUCATE & BUILD SUSTAINABLE FUTURE$1,800
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$63,375TotalGrantOrContriPdDurYrAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonWALTER J GATTIContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1722 LOGGERHEAD DRAddressLine1
CitySATELLITE BEACHCity
StateFLState
ZIP Code32937ZIPCode
FieldValueIRS element (for citing)
Total Contributions$174,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING & TAX RETURN PREP.CategoryTxt
Amt$790Amt
Disbursements Charitable Prps$790DisbursementsCharitablePrpsAmt

Compensation Explanation CompensationExplanation

Compensation Explanation CompensationExplanationGrp (3 entries)

WALTER J GATTI
RICHARD C CEROW
DALE A DETTMER

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
BANK SERVICE CHARGES$200$200
TRANSPORT WOUNDED WARRIORS$50,093$50,093

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryMANAGEMENT FEESCategoryTxt
Amt$1,200Amt
Disbursements Charitable Prps$1,200DisbursementsCharitablePrpsAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonWALTER J GATTIPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1722 LOGGERHEAD DRAddressLine1
CitySATELLITE BEACHCity
StateFLState
ZIP Code32937ZIPCode

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