KAREN AND RICK HARGROVE FOUNDATION: Form 990PF, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- KAREN AND RICK HARGROVE FOUNDATION (EIN 77-0587271)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-02-15
- IRS object ID
- 201300469349100910
- Schema version
- 2011v1.5
- 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
- Accounting Fees Schedule
- Investments Corp Stock Schedule
- Other Expenses Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-02-15T18:43:03-08:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | McGilloway Ray Brown & Kaufman | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| 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 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 770587271 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAREN & RICK HARGROVE FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | KARE | NameControl |
| Phone | 8317222244 | Phone |
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 |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RICHARD HARGROVE | Name |
| Title | PRESIDENT & DIR | Title |
| Date Signed | 2013-02-14 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Larry W Rollins CPA | Name |
| Phone | 8313733337 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exempt PF | X | ExemptPF |
| FMV Assets EOY | 317766 | FMVAssetsEOY |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Not Required To Attach Schedule B | X | NotRequiredToAttachScheduleB |
| Dividends Rev And Expnss | 7770 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 7770 | DividendsNetInvstIncm |
| Total Revenue And Expenses | 7770 | TotalRevenueAndExpenses |
| Total Net Investment Income | 7770 | TotalNetInvestmentIncome |
| Accounting Fees Rev And Expnss | 500 | AccountingFeesRevAndExpnss |
| Accounting Fees Net Invst Incm | 500 | AccountingFeesNetInvstIncm |
| Taxes Rev And Expnss | 119 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 35 | OtherExpensesRevAndExpnss |
| Tot Opr Expenses Rev And Expnss | 654 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 500 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 0 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 70000 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 70000 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 70654 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 500 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 70000 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | -62884 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 7270 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 67898 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 5014 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 5014 | SavingsAndTempCashInvstEOYFMV |
| Investments Corp Stock BOY | 96073 | InvestmentsCorpStockBOY |
| Investments Corp Stock EOY | 96073 | InvestmentsCorpStockEOY |
| Investments Corp Stock EOYFMV | 312752 | InvestmentsCorpStockEOYFMV |
| Total Assets BOY | 163971 | TotalAssetsBOY |
| Total Assets EOY | 101087 | TotalAssetsEOY |
| Total Assets EOYFMV | 317766 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 163971 | RetainedEarningsBOY |
| Retained Earnings EOY | 101087 | RetainedEarningsEOY |
| Total Net Assets BOY | 163971 | TotalNetAssetsBOY |
| Total Net Assets EOY | 101087 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 163971 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 101087 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 163971 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | -62884 | ExcessOfRevenueOverExpenses |
| Subtotal | 101087 | Subtotal |
| Total Net Assets Fund Balances EOY | 101087 | TotalNetAssetsFundBalancesEOY |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 25000 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 339924 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 0.07355 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 100000 | QualifyingDistributionsYear2 |
| Noncharitable Assets Year2 | 391616 | NoncharitableAssetsYear2 |
| Distribution Ratio Year2 | 0.25535 | DistributionRatioYear2 |
| Qualifying Distributions Year3 | 55000 | QualifyingDistributionsYear3 |
| Noncharitable Assets Year3 | 218574 | NoncharitableAssetsYear3 |
| Distribution Ratio Year3 | 0.25163 | DistributionRatioYear3 |
| Noncharitable Assets Year4 | 485240 | NoncharitableAssetsYear4 |
| Qualifying Distributions Year5 | 25000 | QualifyingDistributionsYear5 |
| Noncharitable Assets Year5 | 313918 | NoncharitableAssetsYear5 |
| Distribution Ratio Year5 | 0.07964 | DistributionRatioYear5 |
| Total Distribution Ratio | 0.66017 | TotalDistributionRatio |
| Average Distribution Ratio | 0.13203 | AverageDistributionRatio |
| Net Noncharitable Assets | 340048 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 44898 | AdjustedNoncharitableAssets |
| One Percent Net Investment Income | 73 | OnePercentNetInvestmentIncome |
| Adj Nonchrtbl Assets And One | 44971 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 70000 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 73 | InvestmentIncomeExciseTax |
| Subtotal | 73 | Subtotal |
| Tax Based On Investment Income | 73 | TaxBasedOnInvestmentIncome |
| Tax Due | 73 | TaxDue |
Statements Regarding Activities StatementsRegardingActivities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Activities | false | LegislativePoliticalActivities |
| More Than100 Spent | false | MoreThan100Spent |
| Form1120 POL Filed | false | Form1120POLFiled |
| Activities Not Prev Reported | false | ActivitiesNotPrevReported |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylaws |
| Unrelated Bus Income Over1000 | false | UnrelatedBusIncomeOver1000 |
| Form990 T Filed | false | Form990TFiled |
| Termination Etc | false | TerminationEtc |
| Requirements Of Sect508e | true | RequirementsOfSect508e |
| At Least5000 In Assets | true | AtLeast5000InAssets |
| States Filed With | CA | StatesFiledWith |
| Form990 PF Filed With AG | true | Form990PFFiledWithAG |
| Private Operating Foundation | false | PrivateOperatingFoundation |
| New Substantial Contributors | false | NewSubstantialContributors |
| Interest In Controlled Entity | false | InterestInControlledEntity |
| Applicable Insurance Contract | false | ApplicableInsuranceContract |
| Comply With Public Inspection Rqr | true | ComplyWithPublicInspectionRqr |
| Website Address | N/A | WebsiteAddress |
Books In Care Of Business Name BooksInCareOfBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGILLOWAY RAY BROWN & KAUFM | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Books In Care Of Phone Number | 8313733337 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| 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 Bank | false | ForeignBank |
Statements Regarding Acty4720 StatementsRegardingActy4720
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exchange With Dsqfly Person | false | SaleOrExchangeWithDsqflyPerson |
| Borrow Or Lend With Dsqfly Person | false | BorrowOrLendWithDsqflyPerson |
| Furnished Goods With Dsqfly Person | false | FurnishedGoodsWithDsqflyPerson |
| Pay Compensation To Dsqfly Person | false | PayCompensationToDsqflyPerson |
| Transfer Assets To Dsqfly Person | false | TransferAssetsToDsqflyPerson |
| Payment To Government Offical | false | PaymentToGovernmentOffical |
| Acts Fail To Qualify As Exceptions | false | ActsFailToQualifyAsExceptions |
| Uncorrected Prior Acts | false | UncorrectedPriorActs |
| Undistributed Income Prior Years | false | UndistributedIncomePriorYears |
| Undistr Income4942a2 Not Applied | false | UndistrIncome4942a2NotApplied |
| Business Holdings | false | BusinessHoldings |
| Excess Business Holdings | false | ExcessBusinessHoldings |
| Jeopardy Investments | false | JeopardyInvestments |
| Uncorrected Jeopardy Investments | false | UncorrectedJeopardyInvestments |
| Influence Legislation | false | InfluenceLegislation |
| Influence Election | false | InfluenceElection |
| Grants To Individuals | false | GrantsToIndividuals |
| Grants To Organizations | false | GrantsToOrganizations |
| Noncharitable Purpose | false | NoncharitablePurpose |
| Tr Fail To Qualify As Exceptions | false | TrFailToQualifyAsExceptions |
| Maint Expend Responsibility | false | MaintExpendResponsibility |
| Rcv Funds To Pay Prsnl Bnft Contract | false | RcvFundsToPayPrsnlBnftContract |
| Pay Premiums Prsnl Bnft Contract | false | PayPremiumsPrsnlBnftContract |
| Prohibited Tax Shelter Transactn | false | ProhibitedTaxShelterTransactn |
| Proceeds Or Net Income | false | ProceedsOrNetIncome |
Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo
Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (2 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | TitleTitle | Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition | CompensationCompensation |
|---|---|---|---|---|---|---|
| KAREN HARGROVE | ||||||
| 100 OCEANVIEW DRIVE | LA SELVA BEACH | CA | 95067 | TREASURER | 8.00 | 0 |
| RICHARD HARGROVE | ||||||
| 100 OCEANVIEW DRIVE | LA SELVA BEACH | CA | 95067 | PRESIDENT & DIR | 8.00 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
| Comp Of Hghst Paid Cntrct NONE | NONE | CompOfHghstPaidCntrctNONE |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 291767 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 53459 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 345226 | TotalFMVOfUnusedAssets |
| Reduction Claimed | 0 | ReductionClaimed |
| Adj Total FMV Of Unused Assets | 345226 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 5178 | CashDeemedCharitable |
| Net Noncharitable Assets | 340048 | NetNoncharitableAssets |
| Minimum Investment Return | 17002 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 17002 | MinimumInvestmentReturn |
| Tax Based On Investment Income | 73 | TaxBasedOnInvestmentIncome |
| Total Tax | 73 | TotalTax |
| Distributable Amount Before Adj | 16929 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 16929 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 16929 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 70000 | ExpensesAndContributions |
| Qualifying Distributions | 70000 | QualifyingDistributions |
| One Pct Sect4940e Org Net Invst Incm | 73 | OnePctSect4940eOrgNetInvstIncm |
| Adj Qualifying Distributions | 69927 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 16929 | DistributableAmountAsAdjusted |
| Prior Year1 | 2009 | PriorYear1 |
| Prior Year2 | 2008 | PriorYear2 |
| Prior Year3 | 2007 | PriorYear3 |
| Excess Distri Carryover Year3 | 15471 | ExcessDistriCarryoverYear3 |
| Excess Distri Carryover Year2 | 80494 | ExcessDistriCarryoverYear2 |
| Excess Distri Carryover Year1 | 8123 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 104088 | TotalExcessDistriCarryover |
| Qualifying Distributions | 70000 | QualifyingDistributions |
| Treated As Distri From Corpus | 0 | TreatedAsDistriFromCorpus |
| Applied To Current Year | 16929 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 53071 | RemainingDistriFromCorpus |
| Total Corpus | 157159 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov To Next Year | 157159 | ExcessDistriCyovToNextYear |
| Excess From Year3 | 15471 | ExcessFromYear3 |
| Excess From Year2 | 80494 | ExcessFromYear2 |
| Excess From Year1 | 8123 | ExcessFromYear1 |
| Excess From Current Year | 53071 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | KAREN HARGROVE | ContributingManager |
| Contributing Manager | RICHARD HARGROVE | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person Name | UNIVERSITY OF KANSAS ENDOWMENT FUND | RecipientPersonName |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1891 Constant Avenue | AddressLine1 |
| City | Lawrence | City |
| State | KS | State |
| ZIP Code | 66047 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Relationship | NONE | RecipientRelationship |
| Recipient Foundation Status | 501(C) | RecipientFoundationStatus |
| Purpose Of Grant Or Contribution | EDUCATIONAL SUPPORT | PurposeOfGrantOrContribution |
| Amount | $70,000 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 70000 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $7,770 | ExclusionAmount |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $7,770 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 7770 | TotalPartXVIA |
Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Noncharitable EO | false | TrnsfrOfCashToNoncharitableEO |
| Trnsfr Oth Assets Noncharitable EO | false | TrnsfrOthAssetsNoncharitableEO |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssets |
| Purchase Assets Noncharitable EO | false | PurchaseAssetsNoncharitableEO |
| Rental Of Facilities Etc | false | RentalOfFacilitiesEtc |
| Reimbursement Arrangements | false | ReimbursementArrangements |
| Loans Or Loan Guarantees | false | LoansOrLoanGuarantees |
| Performance Of Services Etc | false | PerformanceOfServicesEtc |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtc |
| Relationships Noncharitable E Os | false | RelationshipsNoncharitableEOs |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees AccountingFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | MCGILLOWAY, RAY, BROWN & KAUFMAN | Category |
| Amount | $500 | Amount |
| Net Investment Income | 500 | NetInvestmentIncome |
| Adjusted Net Income | 0 | AdjustedNetIncome |
| Disbursements Charitable Prps | 0 | DisbursementsCharitablePrps |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corp Stock InvestmentsCorpStock
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Stock | MICROSOFT STOCK | NameOfStock |
| EOY Book Value | 96073 | EOYBookValue |
| EOYFMV | 312752 | EOYFMV |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks |
|---|---|
| DOMESTIC STOCK CORPORATION FEES | 25 |
| CHECK REORDER | 10 |
Taxes Schedule TaxesSchedule
Taxes Taxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | FEDERAL TAX | Category |
| Amount | $119 | Amount |