FOUNDATION FOR THE PROMOTION OF INDIVIDUAL OPPORTUNITY INC: Form 990PF, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- FOUNDATION FOR THE PROMOTION OF INDIVIDUAL OPPORTUNITY INC (EIN 27-4000049)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-05-10
- IRS object ID
- 201301309349101480
- Schema version
- 2012v2.2
- 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
- Gain Loss Sale Other Assets Sch
- General Explanation Attachment
- Investments Corp Stock Schedule
- Other Expenses Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-10T11:41:37-00:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | One Hollow Lane Suite 212 | AddressLine1 |
| City | Lake Success | City |
| State | NY | State |
| ZIP Code | 11042 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 274000049 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Foundation for the Promotion of Individual Opportunity Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FOUN | NameControl |
| Phone | 8008391754 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Charles M Ober | Name |
| Title | President | Title |
| Date Signed | 2013-05-10 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Jeffrey D Haskell | Name |
| Phone | 8008391754 | Phone |
| Date Prepared | 2013-05-10 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exempt PF | X | ExemptPF |
| FMV Assets EOY | 1066791 | 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 |
| Interest On Savings Rev And Expnss | 8 | InterestOnSavingsRevAndExpnss |
| Interest On Savings Net Invst Incm | 8 | InterestOnSavingsNetInvstIncm |
| Dividends Rev And Expnss | 45595 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 45595 | DividendsNetInvstIncm |
| Net Gain Sale Assets Rev And Expnss | -2018 | NetGainSaleAssetsRevAndExpnss |
| Gross Sales Price | 156809 | GrossSalesPrice |
| Capital Gain Net Incm Net Invst Incm | 0 | CapitalGainNetIncmNetInvstIncm |
| Total Revenue And Expenses | 43585 | TotalRevenueAndExpenses |
| Total Net Investment Income | 45603 | TotalNetInvestmentIncome |
| Other Prof Fees Rev And Expnss | 6569 | OtherProfFeesRevAndExpnss |
| Other Prof Fees Net Invst Incm | 6569 | OtherProfFeesNetInvstIncm |
| Taxes Rev And Expnss | 372 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 8938 | OtherExpensesRevAndExpnss |
| Other Expenses Dsbrs Chrtbl Prps | 8938 | OtherExpensesDsbrsChrtblPrps |
| Tot Opr Expenses Rev And Expnss | 15879 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 6569 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 8938 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 19500 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 19500 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 35379 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 6569 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 28438 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 8206 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 39034 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 67341 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 107766 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 107766 | SavingsAndTempCashInvstEOYFMV |
| Investments Corp Stock BOY | 993753 | InvestmentsCorpStockBOY |
| Investments Corp Stock EOY | 961534 | InvestmentsCorpStockEOY |
| Investments Corp Stock EOYFMV | 959025 | InvestmentsCorpStockEOYFMV |
| Total Assets BOY | 1061094 | TotalAssetsBOY |
| Total Assets EOY | 1069300 | TotalAssetsEOY |
| Total Assets EOYFMV | 1066791 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 1061094 | RetainedEarningsBOY |
| Retained Earnings EOY | 1069300 | RetainedEarningsEOY |
| Total Net Assets BOY | 1061094 | TotalNetAssetsBOY |
| Total Net Assets EOY | 1069300 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 1061094 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 1069300 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 1061094 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 8206 | ExcessOfRevenueOverExpenses |
| Subtotal | 1069300 | Subtotal |
| Total Net Assets Fund Balances EOY | 1069300 | TotalNetAssetsFundBalancesEOY |
Capital Gains And Losses CapitalGainsAndLosses
Capital Gains And Losses Info CapitalGainsAndLossesInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Of Asset | Publicly-traded Securities | DescriptionOfAsset |
| Gross Sales Price | 156809 | GrossSalesPrice |
| Cost Or Other Basis | 158829 | CostOrOtherBasis |
| Gain Or Loss | -2018 | GainOrLoss |
| Gains Minus Excess Or Losses | -2018 | GainsMinusExcessOrLosses |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | -2018 | CapitalGainNetIncome |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 9515 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 994935 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 000.009563 | DistributionRatioYear1 |
| Noncharitable Assets Year2 | 503216 | NoncharitableAssetsYear2 |
| Total Distribution Ratio | 000.009563 | TotalDistributionRatio |
| Average Distribution Ratio | 000.004782 | AverageDistributionRatio |
| Net Noncharitable Assets | 1007488 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 4818 | AdjustedNoncharitableAssets |
| One Percent Net Investment Income | 390 | OnePercentNetInvestmentIncome |
| Adj Nonchrtbl Assets And One | 5208 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 28438 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 390 | InvestmentIncomeExciseTax |
| Subtotal | 390 | Subtotal |
| Tax Based On Investment Income | 390 | TaxBasedOnInvestmentIncome |
| Est Tax Payments And Overpayment | 300 | EstTaxPaymentsAndOverpayment |
| Total Credits And Payments | 300 | TotalCreditsAndPayments |
| Tax Paid Original Return | 300 | TaxPaidOriginalReturn |
| Tax Due | 90 | 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 |
| Termination Etc | false | TerminationEtc |
| Requirements Of Sect508e | true | RequirementsOfSect508e |
| At Least5000 In Assets | true | AtLeast5000InAssets |
| 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 |
Books In Care Of Business Name BooksInCareOfBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | co Foundation Source | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Books In Care Of Phone Number | 8008391754 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 Silverside Road Suite 123 | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | 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 |
| Uncorrected Prior Acts | false | UncorrectedPriorActs |
| Undistributed Income Prior Years | false | UndistributedIncomePriorYears |
| Business Holdings | false | BusinessHoldings |
| 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 |
| Pay Premiums Prsnl Bnft Contract | false | PayPremiumsPrsnlBnftContract |
| Prohibited Tax Shelter Transactn | false | ProhibitedTaxShelterTransactn |
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 |
|---|---|---|---|---|---|---|
| Charles M Ober | ||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 19809 | Pres / Dir / Sec | 001.00 | 0 |
| Jacqueline Ober | ||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 19809 | VP | 001.00 | 0 |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 931171 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 91659 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 1022830 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 1022830 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 15342 | CashDeemedCharitable |
| Net Noncharitable Assets | 1007488 | NetNoncharitableAssets |
| Minimum Investment Return | 50374 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 50374 | MinimumInvestmentReturn |
| Tax Based On Investment Income | 390 | TaxBasedOnInvestmentIncome |
| Total Tax | 390 | TotalTax |
| Distributable Amount Before Adj | 49984 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 49984 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 49984 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 28438 | ExpensesAndContributions |
| Qualifying Distributions | 28438 | QualifyingDistributions |
| One Pct Sect4940e Org Net Invst Incm | 390 | OnePctSect4940eOrgNetInvstIncm |
| Adj Qualifying Distributions | 28048 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 49984 | DistributableAmountAsAdjusted |
| Undistributed Income Prior Year | 21440 | UndistributedIncomePriorYear |
| Qualifying Distributions | 28438 | QualifyingDistributions |
| Applied To Year1 | 21440 | AppliedToYear1 |
| Applied To Current Year | 6998 | AppliedToCurrentYear |
| Undistributed Income CY | 42986 | UndistributedIncomeCY |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Charles M Ober | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (5 entries)
| Address Line1RecipientUSAddress/AddressLine1 | CityRecipientUSAddress/City | StateRecipientUSAddress/State | ZIP CodeRecipientUSAddress/ZIPCode | Recipient RelationshipRecipientRelationship | Recipient Foundation StatusRecipientFoundationStatus | Purpose Of Grant Or ContributionPurposeOfGrantOrContribution | AmountAmount |
|---|---|---|---|---|---|---|---|
| AMERICAN CANCER SOCIETY INC | |||||||
| PO BOX 22718 | OKLAHOMA CITY | OK | 73123 | N/A | 509a1 | General Unrestricted | $500 |
| CHILDRENS HOSPITAL OF LOS ANGELES | |||||||
| 4650 W SUNSET BLVD | LOS ANGELES | CA | 90027 | N/A | 509a1 | Childrens Fund | $5,000 |
| CONTEMPORARY MUSEUM INCORPORATED | |||||||
| 914 SAINT PAUL ST | BALTIMORE | MD | 21202 | N/A | 509a1 | General Unrestricted | $8,000 |
| MARYLAND FOOD BANK INC | |||||||
| 2200 HALETHORPE FARMS RD | BALTIMORE | MD | 21227 | N/A | 509a1 | Taste of the NFL Kick Hunger Challenge | $1,000 |
| THE BALTIMORE COUNCIL ON FORGN AFFAIRS | |||||||
| 401 E PRATT ST STE 1611 | BALTIMORE | MD | 21202 | N/A | 509a1 | General Unrestricted | $5,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 19500 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $8 | ExclusionAmount |
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $45,595 | ExclusionAmount |
Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 18 | ExclusionCode |
| Exclusion | -$2,018 | ExclusionAmount |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $43,585 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 43585 | 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 |
Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch
Gain Loss Sale Other Asset GainLossSaleOtherAsset
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Publicly-traded Securities | Name |
| Gross Sales Price | 156809 | GrossSalesPrice |
| Basis | 158829 | Basis |
| Total Net | -2020 | TotalNet |
General Explanation Attachment GeneralExplanationAttachment
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corp Stock InvestmentsCorpStock (9 entries)
| Name Of StockNameOfStock | EOY Book ValueEOYBookValue | EOYFMVEOYFMV |
|---|---|---|
| 2369 shares of COHEN STEERS GLOBAL REALTY SHARES, INC CLASS A | 100000 | 104991 |
| 4456 shares of DOUBLELINE TOTAL RETURN BOND CL N | 50000 | 50490 |
| 71960 shares of FRANK CUSTODIAN INCM SR CL A | 161933 | 161191 |
| 21309 shares of HENDERSON GLOBAL EQUITY INCOME FUND CLASS A | 162898 | 157683 |
| 2691 shares of LOOMIS SAYLES FDS STRATEGIC INCM FD CL A TR II | 40532 | 41627 |
| 15114 shares of PIMCO FUNDS PACIFIC INVESTMENT MANAGEMENT | 160882 | 167311 |
| 12983 shares of PIMCO GLOBAL MULTI ASSET FUND CL A | 152903 | 148658 |
| 6073 shares of TEMPLETON GLOBAL BOND FUND - CLASS A | 82386 | 81255 |
| 2389 shares of THE CUSHING MLP PREMIER FUND CL | 50000 | 45819 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks | Disbursements Charitable PrpsDisbursementsCharitablePrps |
|---|---|---|
| Administrative Fees | 8913 | 8913 |
| State or Local Filing Fees | 25 | 25 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees OtherProfessionalFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment Management Services | Category |
| Amount | $6,569 | Amount |
| Net Investment Income | 6569 | NetInvestmentIncome |
Taxes Schedule TaxesSchedule
Taxes Taxes (2 entries)
| CategoryCategory | AmountAmount |
|---|---|
| Estimated Tax for 2012 | $300 |
| Excise Tax for 2011 | $72 |
Comments