DIAMONDS DIRECT FOUNDATION: Form 990PF, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- DIAMONDS DIRECT FOUNDATION (EIN 20-1313356)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-08-13
- IRS object ID
- 201302259349100635
- 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
- Form 990-PF
- Schedule B
- Compensation Explanation
- Other Expenses Schedule
- Substantial Contributors Sch
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-08-13T12:57:57-05:00 | 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 | CONEWALSH & CO-CWCC LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6100 FAIRVIEW RD STE 1205 | AddressLine1 |
| City | CHARLOTTE | City |
| State | NC | State |
| ZIP Code | 28210 | 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 | 201313356 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DIAMONDS DIRECT FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | DIAM | NameControl |
| Phone | 7045329041 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4521 SHARON ROAD STE 101 | AddressLine1 |
| Address Line2 | ROOM/SUITE 101 | AddressLine2 |
| City | CHARLOTTE | City |
| State | NC | State |
| ZIP Code | 28211 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ITAI BERGER | Name |
| Title | V/P | Title |
| Phone | 7045329041 | Phone |
| Date Signed | 2013-08-13 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ABE WARSHENBROT | Name |
| Phone | 7045525599 | Phone |
| Date Prepared | 2013-08-13 | 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 | 460 | FMVAssetsEOY |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Received Rev And Expnss | 71000 | ContriReceivedRevAndExpnss |
| Total Revenue And Expenses | 71000 | TotalRevenueAndExpenses |
| Total Net Investment Income | 0 | TotalNetInvestmentIncome |
| Taxes Rev And Expnss | 25 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 280 | OtherExpensesRevAndExpnss |
| Tot Opr Expenses Rev And Expnss | 305 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 0 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 0 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 70446 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 70446 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 70751 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 0 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 70446 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 249 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 0 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | 211 | CashBOY |
| Cash EOY | 460 | CashEOY |
| Cash EOYFMV | 460 | CashEOYFMV |
| Total Assets BOY | 211 | TotalAssetsBOY |
| Total Assets EOY | 460 | TotalAssetsEOY |
| Total Assets EOYFMV | 460 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 211 | RetainedEarningsBOY |
| Retained Earnings EOY | 460 | RetainedEarningsEOY |
| Total Net Assets BOY | 211 | TotalNetAssetsBOY |
| Total Net Assets EOY | 460 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 211 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 460 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 211 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 249 | ExcessOfRevenueOverExpenses |
| Subtotal | 460 | Subtotal |
| Total Net Assets Fund Balances EOY | 460 | TotalNetAssetsFundBalancesEOY |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 60000 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 208 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 288.46153 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 64350 | QualifyingDistributionsYear2 |
| Qualifying Distributions Year3 | 45720 | QualifyingDistributionsYear3 |
| Qualifying Distributions Year4 | 81800 | QualifyingDistributionsYear4 |
| Qualifying Distributions Year5 | 117720 | QualifyingDistributionsYear5 |
| Total Distribution Ratio | 288.46153 | TotalDistributionRatio |
| Average Distribution Ratio | 288.46153 | AverageDistributionRatio |
| Net Noncharitable Assets | 148 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 42692 | AdjustedNoncharitableAssets |
| Adj Nonchrtbl Assets And One | 42692 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 70446 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 0 | InvestmentIncomeExciseTax |
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 |
| States Filed With | NC | StatesFiledWith |
| Private Operating Foundation | false | PrivateOperatingFoundation |
| New Substantial Contributors | true | NewSubstantialContributors |
| Interest In Controlled Entity | false | InterestInControlledEntity |
| Applicable Insurance Contract | false | ApplicableInsuranceContract |
| Comply With Public Inspection Rqr | true | ComplyWithPublicInspectionRqr |
| Website Address | NONE | WebsiteAddress |
| Books In Care Of Person Name | KELLY LO | BooksInCareOfPersonName |
| Books In Care Of Phone Number | 7045329041 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4521 SHARON RD STE 101 | AddressLine1 |
| City | CHARLOTTE | City |
| State | NC | State |
| ZIP Code | 28211 | 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 |
| 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 |
| Rcv Funds To Pay Prsnl Bnft Contract | false | RcvFundsToPayPrsnlBnftContract |
| 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 (3 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | TitleTitle | Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition | CompensationCompensation | Contri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtc | Expense Account Other AllowancesExpenseAccountOtherAllowances |
|---|---|---|---|---|---|---|---|---|
| DORON ARABOV | ||||||||
| 4521 SHARON ROAD 101 | CHARLOTTE | NC | 28211 | DIRECTOR | 0.00 | 0 | 0 | 0 |
| ALON ARABOV | ||||||||
| 4521 SHARON ROAD 101 | CHARLOTTE | NC | 28211 | PRES/DIRECTO | 0.00 | 0 | 0 | 0 |
| ITAY BERGER | ||||||||
| 4521 SHARON ROAD 101 | CHARLOTTE | NC | 28211 | VP/SEC/TRE/D | 1.00 | 0 | 0 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
| Comp Of Hghst Paid Cntrct NONE | NONE | CompOfHghstPaidCntrctNONE |
Sum Of Program Related Investments SumOfProgramRelatedInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1 |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 0 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 150 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 150 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 150 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 2 | CashDeemedCharitable |
| Net Noncharitable Assets | 148 | NetNoncharitableAssets |
| Minimum Investment Return | 7 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 7 | MinimumInvestmentReturn |
| Distributable Amount Before Adj | 7 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 7 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 7 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 70446 | ExpensesAndContributions |
| Qualifying Distributions | 70446 | QualifyingDistributions |
| Adj Qualifying Distributions | 70446 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 7 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year1 | 59990 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 59990 | TotalExcessDistriCarryover |
| Qualifying Distributions | 70446 | QualifyingDistributions |
| Applied To Current Year | 7 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 70439 | RemainingDistriFromCorpus |
| Total Corpus | 130429 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov To Next Year | 130429 | ExcessDistriCyovToNextYear |
| Excess From Year1 | 59990 | ExcessFromYear1 |
| Excess From Current Year | 70439 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 Foundation StatusRecipientFoundationStatus | Purpose Of Grant Or ContributionPurposeOfGrantOrContribution | AmountAmount |
|---|---|---|---|---|---|---|
| LUBAVITCH OF NC | ||||||
| 6619 SARDIS RD | CHARLOTTE | NC | 28270 | 501(C)(3) | EDUCATION | $60,000 |
| WOMENS CENTER OF WAKE COUNTY | ||||||
| 112 COX AVENUE | RALEIGH | NC | 27605 | 501(C)(3) | WOMEN'S CAUSES | $4,352 |
| TRIANGLE FAMILY CENTER | ||||||
| 3937 WESTERN BOULEVARD | RALEIGH | NC | 27606 | 501(C)(3) | HELP FOR FAMILIES IN CRISIS | $3,369 |
| AMERICAN CANCER SOCIETY | ||||||
| 8300 HEATH PARK 10 | RALEIGH | NC | 27612 | 501(C)(3) | FIGHT CANCER | $2,279 |
| SUSAN G KOMEN | ||||||
| 2316 RANDOLPH ROAD | CHARLOTTE | NC | 28207 | 501(C)(3) | FIGHT CANCER | $446 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 70446 | TotGrantOrContriPaidDuringYear |
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 |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | X | Organization501c3ExemptPF |
| General Rule | X | GeneralRule |
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | 1 | ContributorNumber |
| Contributor Name Individual | DIAMONDS DIRECT USA INC | ContributorNameIndividual |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4521 SHARON RD | AddressLine1 |
| City | CHARLOTTE | City |
| State | NC | State |
| ZIP Code | 28211 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | 71000 | AggregateContributions |
| Person Contribution Type | X | PersonContributionType |
Compensation Explanation CompensationExplanation
Compensation Compensation (3 entries)
| DORON ARABOV |
| ALON ARABOV |
| ITAY BERGER |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks |
|---|---|
| EXPENSES | |
| BANK CHARGES | 280 |
Substantial Contributors Sch SubstantialContributorsSch
Substantial Contributor SubstantialContributor
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person Name | DIAMONDS DIRECT USA INC | PersonName |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4521 SHARON ROAD SUITE 101 | AddressLine1 |
| City | CHARLOTTE | City |
| State | NC | State |
| ZIP Code | 28211 | ZIPCode |
Taxes Schedule TaxesSchedule
Taxes Taxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | TAXES/LICENSES | Category |
| Amount | $25 | Amount |
Comments