PAUL AND MARCY ABRAMS FAMILY FOUNDATION INC: Form 990PF, tax year 2012

View the entire original 990 at ProPublica ↗

Organization
PAUL AND MARCY ABRAMS FAMILY FOUNDATION INC (EIN 45-4013613)
Tax period
2012-01-01 to 2012-12-31
Filed
2013-05-15
IRS object ID
201301359349100315
Schema version
2012v2.1
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)
Timestamp2013-05-15T08:33:15-05:00Timestamp
Tax Period End Date2012-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

FieldValueIRS element (for citing)
EIN221655803EIN

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1DORFMAN ABRAMS MUSIC LLCBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1250 PEHLE AVE SUITE 702AddressLine1
CitySADDLE BROOKCity
StateNJState
ZIP Code07663ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnType
Tax Period Begin Date2012-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN454013613EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1THE PAUL AND MARCY ABRAMS FAMILY FOUNDATION INCBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlPAULNameControl
Phone9732782300Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1171 FIFTH AVENUEAddressLine1
CityPATERSONCity
StateNJState
ZIP Code07524ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NamePAUL H ABRAMSName
TitlePRESIDENTTitle
Phone9732782300Phone
Date Signed2013-05-09DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameROBERT B PULEO CPAName
PTINP00359247PTIN
Phone2014039750Phone
FieldValueIRS element (for citing)
Tax Year2012TaxYear
Build TS2016-03-07 17:11:31ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Exempt PFXExemptPF
FMV Assets EOY132636FMVAssetsEOY
Method Of Accounting CashXMethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Received Rev And Expnss0ContriReceivedRevAndExpnss
Not Required To Attach Schedule BXNotRequiredToAttachScheduleB
Dividends Rev And Expnss3536DividendsRevAndExpnss
Dividends Net Invst Incm3536DividendsNetInvstIncm
Capital Gain Net Incm Net Invst Incm0CapitalGainNetIncmNetInvstIncm
Total Revenue And Expenses3536TotalRevenueAndExpenses
Total Net Investment Income3536TotalNetInvestmentIncome
Comp Ofcr Dir Trst Rev And Expnss0CompOfcrDirTrstRevAndExpnss
Comp Ofcr Dir Trst Net Invst Incm0CompOfcrDirTrstNetInvstIncm
Comp Ofcr Dir Trst Dsbrs Chrtbl Prps0CompOfcrDirTrstDsbrsChrtblPrps
Legal Fees Rev And Expnss1011LegalFeesRevAndExpnss
Legal Fees Net Invst Incm0LegalFeesNetInvstIncm
Legal Fees Dsbrs Chrtbl Prps0LegalFeesDsbrsChrtblPrps
Accounting Fees Rev And Expnss2500AccountingFeesRevAndExpnss
Accounting Fees Net Invst Incm0AccountingFeesNetInvstIncm
Accounting Fees Dsbrs Chrtbl Prps0AccountingFeesDsbrsChrtblPrps
Taxes Rev And Expnss150TaxesRevAndExpnss
Taxes Net Invst Incm0TaxesNetInvstIncm
Taxes Dsbrs Chrtbl Prps0TaxesDsbrsChrtblPrps
Other Expenses Rev And Expnss850OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm0OtherExpensesNetInvstIncm
Other Expenses Dsbrs Chrtbl Prps0OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss4511TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm0TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps0TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss350ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps350ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss4861TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm0TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps350TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses-1325ExcessOfRevenueOverExpenses
Net Investment Income3536NetInvestmentIncome

Balance Sheets BalanceSheets

FieldValueIRS element (for citing)
Cash BOY116962CashBOY
Cash EOY365CashEOY
Cash EOYFMV365CashEOYFMV
Investments Corp Stock BOY0InvestmentsCorpStockBOY
Investments Corp Stock EOY115272InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV132271InvestmentsCorpStockEOYFMV
Total Assets BOY116962TotalAssetsBOY
Total Assets EOY115637TotalAssetsEOY
Total Assets EOYFMV132636TotalAssetsEOYFMV
Total Liabilities BOY0TotalLiabilitiesBOY
Total Liabilities EOY0TotalLiabilitiesEOY
Org That Do Not Follow SFAS117XOrgThatDoNotFollowSFAS117
Capital Stock BOY0CapitalStockBOY
Capital Stock EOY0CapitalStockEOY
Paid In Or Capital Surplus BOY0PaidInOrCapitalSurplusBOY
Paid In Or Capital Surplus EOY0PaidInOrCapitalSurplusEOY
Retained Earnings BOY116962RetainedEarningsBOY
Retained Earnings EOY115637RetainedEarningsEOY
Total Net Assets BOY116962TotalNetAssetsBOY
Total Net Assets EOY115637TotalNetAssetsEOY
Total Liabilities Net Assets BOY116962TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY115637TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

FieldValueIRS element (for citing)
Total Net Assets Fund Balances BOY116962TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses-1325ExcessOfRevenueOverExpenses
Other Increases0OtherIncreases
Subtotal115637Subtotal
Other Decreases0OtherDecreases
Total Net Assets Fund Balances EOY115637TotalNetAssetsFundBalancesEOY

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

FieldValueIRS element (for citing)
Liable For4942 Tax0LiableFor4942Tax
Qualifying Distributions Year10QualifyingDistributionsYear1
Noncharitable Assets Year1115208NoncharitableAssetsYear1
Distribution Ratio Year10.000000DistributionRatioYear1
Qualifying Distributions Year20QualifyingDistributionsYear2
Noncharitable Assets Year20NoncharitableAssetsYear2
Distribution Ratio Year20.000000DistributionRatioYear2
Total Distribution Ratio0.000000TotalDistributionRatio
Average Distribution Ratio0.000000AverageDistributionRatio
Net Noncharitable Assets123883NetNoncharitableAssets
Adjusted Noncharitable Assets0AdjustedNoncharitableAssets
One Percent Net Investment Income35OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One35AdjNonchrtblAssetsAndOnePct
Qualifying Distributions350QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eXDomesticOrgMeetingSect4940e
Investment Income Excise Tax35InvestmentIncomeExciseTax
Tax Under Section5110TaxUnderSection511
Subtotal35Subtotal
Subtitle A Tax0SubtitleATax
Tax Based On Investment Income35TaxBasedOnInvestmentIncome
Total Credits And Payments0TotalCreditsAndPayments
Tax Due35TaxDue

Statements Regarding Activities StatementsRegardingActivities

FieldValueIRS element (for citing)
Legislative Political Activities0LegislativePoliticalActivities
More Than100 Spent0MoreThan100Spent
Form1120 POL Filed0Form1120POLFiled
Sect4955 Tax On Organization0Sect4955TaxOnOrganization
Sect4955 Tax On Managers0Sect4955TaxOnManagers
Reimbursement Of Tax0ReimbursementOfTax
Activities Not Prev Reported0ActivitiesNotPrevReported
Changes To Articles Or Bylaws0ChangesToArticlesOrBylaws
Unrelated Bus Income Over10000UnrelatedBusIncomeOver1000
Termination Etc0TerminationEtc
Requirements Of Sect508e1RequirementsOfSect508e
At Least5000 In Assets1AtLeast5000InAssets
States Filed WithNJStatesFiledWith
Form990 PF Filed With AG1Form990PFFiledWithAG
Private Operating Foundation0PrivateOperatingFoundation
New Substantial Contributors0NewSubstantialContributors
Interest In Controlled Entity0InterestInControlledEntity
Applicable Insurance Contract0ApplicableInsuranceContract
Comply With Public Inspection Rqr1ComplyWithPublicInspectionRqr
Website AddressN/AWebsiteAddress

Books In Care Of Business Name BooksInCareOfBusinessName

FieldValueIRS element (for citing)
Business Name Line1TAXPAYERBusinessNameLine1
FieldValueIRS element (for citing)
Books In Care Of Phone Number9732782300BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

FieldValueIRS element (for citing)
Address Line1171 FIFTH AVENUEAddressLine1
CityPATERSONCity
StateNJState
ZIP Code07524ZIPCode
FieldValueIRS element (for citing)
Foreign Bank0ForeignBank

Statements Regarding Acty4720 StatementsRegardingActy4720

FieldValueIRS element (for citing)
Sale Or Exchange With Dsqfly Person0SaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly Person0BorrowOrLendWithDsqflyPerson
Furnished Goods With Dsqfly Person0FurnishedGoodsWithDsqflyPerson
Pay Compensation To Dsqfly Person0PayCompensationToDsqflyPerson
Transfer Assets To Dsqfly Person0TransferAssetsToDsqflyPerson
Payment To Government Offical0PaymentToGovernmentOffical
Uncorrected Prior Acts0UncorrectedPriorActs
Undistributed Income Prior Years1UndistributedIncomePriorYears
Undistributed Income Prior Year12011UndistributedIncomePriorYear1
Undistr Income4942a2 Not Applied1UndistrIncome4942a2NotApplied
Business Holdings0BusinessHoldings
Jeopardy Investments0JeopardyInvestments
Uncorrected Jeopardy Investments0UncorrectedJeopardyInvestments
Influence Legislation0InfluenceLegislation
Influence Election0InfluenceElection
Grants To Individuals0GrantsToIndividuals
Grants To Organizations0GrantsToOrganizations
Noncharitable Purpose0NoncharitablePurpose
Rcv Funds To Pay Prsnl Bnft Contract0RcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft Contract0PayPremiumsPrsnlBnftContract
Prohibited Tax Shelter Transactn0ProhibitedTaxShelterTransactn

Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo

Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (3 entries)

Address Line1USAddress/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleAvg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPositionCompensationCompensationContri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtcExpense Account Other AllowancesExpenseAccountOtherAllowances
PAUL H ABRAMS
19 SUTTON DRIVEBOYNTON BEACHFL33436PRESIDENT1.00000
MARCIA ABRAMS
19 SUTTON DRIVEBOYNTON BEACHFL33436SECRETARY1.00000
JEFFREY L ABRAMS
232 GREEN RIDGE ROADFRANKLIN LAKESNJ07417TREASURER1.00000
FieldValueIRS element (for citing)
Comp Of Highest Paid Empl NONENONECompOfHighestPaidEmplNONE
Tot Number Of Oth Empl Paid Over50k0TotNumberOfOthEmplPaidOver50k
Comp Of Hghst Paid Cntrct NONENONECompOfHghstPaidCntrctNONE
Tot Number Of Cntrct Paid Over50k0TotNumberOfCntrctPaidOver50k

Sum Of Program Related Investments SumOfProgramRelatedInvestments

FieldValueIRS element (for citing)
Total0Total

Minimum Investment Return MinimumInvestmentReturn

FieldValueIRS element (for citing)
Avg Monthly FMV Of Securities109967AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances15803AvgMonthlyCashBalances
FMV All Other Noncharitable Assets0FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets125770TotalFMVOfUnusedAssets
Reduction Claimed0ReductionClaimed
Acquisition Indebtedness0AcquisitionIndebtedness
Adj Total FMV Of Unused Assets125770AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable1887CashDeemedCharitable
Net Noncharitable Assets123883NetNoncharitableAssets
Minimum Investment Return6194MinimumInvestmentReturn

Distributable DistributableAmount

FieldValueIRS element (for citing)
Minimum Investment Return6194MinimumInvestmentReturn
Tax Based On Investment Income35TaxBasedOnInvestmentIncome
Total Tax35TotalTax
Distributable Amount Before Adj6159DistributableAmountBeforeAdj
Recoveries Qlfy Distributions0RecoveriesQlfyDistributions
Distributable Amount Before Ded6159DistributableAmountBeforeDed
Deduction Fr Distributable$0DeductionFrDistributableAmount
Distributable Amount As Adjusted6159DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

FieldValueIRS element (for citing)
Expenses And Contributions350ExpensesAndContributions
Program Related Investments Total0ProgramRelatedInvestmentsTotal
Qualifying Distributions350QualifyingDistributions
One Pct Sect4940e Org Net Invst Incm35OnePctSect4940eOrgNetInvstIncm
Adj Qualifying Distributions315AdjQualifyingDistributions

Undistributed Income UndistributedIncome

FieldValueIRS element (for citing)
Distributable Amount As Adjusted6159DistributableAmountAsAdjusted
Undistributed Income Prior Year363UndistributedIncomePriorYear
Total For Prior Years0TotalForPriorYears
Total Excess Distri Carryover0TotalExcessDistriCarryover
Qualifying Distributions350QualifyingDistributions
Applied To Year1350AppliedToYear1
Applied To Prior Years0AppliedToPriorYears
Treated As Distri From Corpus0TreatedAsDistriFromCorpus
Applied To Current Year0AppliedToCurrentYear
Remaining Distri From Corpus0RemainingDistriFromCorpus
Excess Distri Cyov App CY Corpus0ExcessDistriCyovAppCYCorpus
Excess Distri Cyov Applied CY0ExcessDistriCyovAppliedCY
Total Corpus0TotalCorpus
Prior Year Undistributed Income0PriorYearUndistributedIncome
Prior Year Deficiency Or Tax0PriorYearDeficiencyOrTax
Taxable Amount10TaxableAmount1
Taxable Amount213TaxableAmount2
Undistributed Income CY6159UndistributedIncomeCY
Distri From Corpus170b1 E Or4942g30DistriFromCorpus170b1EOr4942g3
Excess Distri Cyov From Year50ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year0ExcessDistriCyovToNextYear

Supplementary Information SupplementaryInformation

FieldValueIRS element (for citing)
Contributing ManagerPAUL H ABRAMSContributingManager
Contributing ManagerMARCIA ABRAMSContributingManager
Only Contributes To PreselectedXOnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (2 entries)

Address Line1RecipientUSAddress/AddressLine1CityRecipientUSAddress/CityStateRecipientUSAddress/StateZIP CodeRecipientUSAddress/ZIPCodeRecipient RelationshipRecipientRelationshipRecipient Foundation StatusRecipientFoundationStatusPurpose Of Grant Or ContributionPurposeOfGrantOrContributionAmountAmount
PROGRIA RESEARCH FOUNDATION
PO BOX 3453PEABODYMA019613453NONE501 (C)(3)GENERAL SUPPORT$250
MEMORIAL SLOAN KETTERING CANCER CENTER
633 THIRD AVENUE 28TH FLOORNEW YORKNY10017NONE501 (C)(3)GENERAL SUPPORT$100
FieldValueIRS element (for citing)
Tot Grant Or Contri Paid During Year350TotGrantOrContriPaidDuringYear
Tot Grant Or Contri Approved Future0TotGrantOrContriApprovedFuture

Analysis Income Producing Acty AnalysisIncomeProducingActy

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

FieldValueIRS element (for citing)
Exclusion Code14ExclusionCode
Exclusion$3,536ExclusionAmount

Subtotals Part XVIA SubtotalsPartXVIA

FieldValueIRS element (for citing)
Unrelated Business Income$0UnrelatedBusinessIncomeAmount
Exclusion$3,536ExclusionAmount
Related Or Exempt Function Income0RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Part XVIA3536TotalPartXVIA

Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO

FieldValueIRS element (for citing)
Trnsfr Of Cash To Noncharitable EO0TrnsfrOfCashToNoncharitableEO
Trnsfr Oth Assets Noncharitable EO0TrnsfrOthAssetsNoncharitableEO
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssets
Purchase Assets Noncharitable EO0PurchaseAssetsNoncharitableEO
Rental Of Facilities Etc0RentalOfFacilitiesEtc
Reimbursement Arrangements0ReimbursementArrangements
Loans Or Loan Guarantees0LoansOrLoanGuarantees
Performance Of Services Etc0PerformanceOfServicesEtc
Sharing Of Facilities Etc0SharingOfFacilitiesEtc
Relationships Noncharitable E Os0RelationshipsNoncharitableEOs

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees AccountingFees

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategory
Amount$2,500Amount
Net Investment Income0NetInvestmentIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock

FieldValueIRS element (for citing)
Name Of StockMARKETABLE SECURITIESNameOfStock
EOY Book Value115272EOYBookValue
EOYFMV132271EOYFMV

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFees

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategory
Amount$1,011Amount
Net Investment Income0NetInvestmentIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses

FieldValueIRS element (for citing)
DescriptionFEDERAL TAX EXEMPT ORG. APPLICATION FEEDescription
Revenue And Expenses Per Books850RevenueAndExpensesPerBooks
Net Investment Income0NetInvestmentIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

Taxes Schedule TaxesSchedule

Taxes Taxes

FieldValueIRS element (for citing)
CategoryNEW JERSEY FILING FEECategory
Amount$150Amount
Net Investment Income0NetInvestmentIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

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