JOHN AND PATRICIA ADAMS FOUNDATION: Form 990PF, tax year 2012

View the entire original 990 at ProPublica ↗

Organization
JOHN AND PATRICIA ADAMS FOUNDATION (EIN 20-4480039)
Tax period
2012-01-01 to 2012-12-31
Filed
2013-05-14
IRS object ID
201311349349102601
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)
Timestamp2013-05-14T16:05:47-05:00Timestamp
Tax Period End Date2012-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1PSK LLPBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line13001 MEDLIN DR STE 100AddressLine1
CityARLINGTONCity
StateTXState
ZIP Code76015ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnType
Tax Period Begin Date2012-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN204480039EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1THE JOHN AND PATRICIA ADAMSBusinessNameLine1
Business Name Line2FOUNDATIONBusinessNameLine2
FieldValueIRS element (for citing)
Name ControlJOHNNameControl
Phone8175457281Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line12350 AIRPORT FREEWAY SUITE 160AddressLine1
CityBEDFORDCity
StateTXState
ZIP Code76022ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameJOHN ADAMSName
TitlePRESIDENTTitle
Phone8175457281Phone
Date Signed2013-05-06DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
NameKATHY HOWLETTName
Phone8176643000Phone
Date Prepared2013-05-09DatePrepared
FieldValueIRS element (for citing)
Tax Year2012TaxYear
Build TS2016-02-25 16:41:14ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Exempt PFXExemptPF
FMV Assets EOY5571522FMVAssetsEOY
Method Of Accounting CashXMethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Not Required To Attach Schedule BXNotRequiredToAttachScheduleB
Interest On Savings Rev And Expnss52135InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm52135InterestOnSavingsNetInvstIncm
Interest On Savings Adj Net Incm52135InterestOnSavingsAdjNetIncm
Dividends Rev And Expnss132843DividendsRevAndExpnss
Dividends Net Invst Incm132843DividendsNetInvstIncm
Dividends Adj Net Incm132843DividendsAdjNetIncm
Net Gain Sale Assets Rev And Expnss53868NetGainSaleAssetsRevAndExpnss
Gross Sales Price1474642GrossSalesPrice
Total Revenue And Expenses238846TotalRevenueAndExpenses
Total Net Investment Income184978TotalNetInvestmentIncome
Total Adjusted Net Income184978TotalAdjustedNetIncome
Other Prof Fees Rev And Expnss5975OtherProfFeesRevAndExpnss
Other Prof Fees Net Invst Incm2199OtherProfFeesNetInvstIncm
Other Prof Fees Adj Net Incm191OtherProfFeesAdjNetIncm
Other Prof Fees Dsbrs Chrtbl Prps3585OtherProfFeesDsbrsChrtblPrps
Taxes Rev And Expnss3617TaxesRevAndExpnss
Taxes Net Invst Incm1809TaxesNetInvstIncm
Taxes Adj Net Incm1809TaxesAdjNetIncm
Other Expenses Rev And Expnss60204OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm29741OtherExpensesNetInvstIncm
Other Expenses Adj Net Incm25242OtherExpensesAdjNetIncm
Other Expenses Dsbrs Chrtbl Prps5221OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss69796TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm33749TotOprExpensesNetInvstIncm
Tot Opr Expenses Adj Net Incm27242TotOprExpensesAdjNetIncm
Tot Opr Expenses Dsbrs Chrtbl Prps8806TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss225520ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps225520ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss295316TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm33749TotalExpensesNetInvstIncm
Total Expenses Adj Net Incm27242TotalExpensesAdjNetIncm
Total Expenses Dsbrs Chrtbl Prps234326TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses-56470ExcessOfRevenueOverExpenses
Net Investment Income151229NetInvestmentIncome
Adjusted Net Income157736AdjustedNetIncome

Balance Sheets BalanceSheets

FieldValueIRS element (for citing)
Savings And Temp Cash Invst BOY183654SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY153285SavingsAndTempCashInvstEOY
Savings And Temp Cash Invst EOYFMV153285SavingsAndTempCashInvstEOYFMV
Accounts Receivable10885AccountsReceivable
Accounts Receivable BOY12262AccountsReceivableBOY
Accounts Receivable EOY10885AccountsReceivableEOY
Accounts Receivable EOYFMV10885AccountsReceivableEOYFMV
Prepaid Expenses EOY2650PrepaidExpensesEOY
Investments Corp Stock BOY4866433InvestmentsCorpStockBOY
Investments Corp Stock EOY4840890InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV5407352InvestmentsCorpStockEOYFMV
Land Building And Equipment Basis27475LandBuildingAndEquipmentBasis
Accum Deprec Land Bldg And Equip11753AccumDeprecLandBldgAndEquip
Land Building And Equipment BOY17553LandBuildingAndEquipmentBOY
Land Building And Equipment EOY15722LandBuildingAndEquipmentEOY
Total Assets BOY5079902TotalAssetsBOY
Total Assets EOY5023432TotalAssetsEOY
Total Assets EOYFMV5571522TotalAssetsEOYFMV
Total Liabilities EOY0TotalLiabilitiesEOY
Org That Do Not Follow SFAS117XOrgThatDoNotFollowSFAS117
Retained Earnings BOY5079902RetainedEarningsBOY
Retained Earnings EOY5023432RetainedEarningsEOY
Total Net Assets BOY5079902TotalNetAssetsBOY
Total Net Assets EOY5023432TotalNetAssetsEOY
Total Liabilities Net Assets BOY5079902TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY5023432TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

FieldValueIRS element (for citing)
Total Net Assets Fund Balances BOY5079902TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses-56470ExcessOfRevenueOverExpenses
Subtotal5023432Subtotal
Total Net Assets Fund Balances EOY5023432TotalNetAssetsFundBalancesEOY

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

FieldValueIRS element (for citing)
Liable For4942 TaxfalseLiableFor4942Tax
Qualifying Distributions Year1286715QualifyingDistributionsYear1
Noncharitable Assets Year15555192NoncharitableAssetsYear1
Distribution Ratio Year10.051612DistributionRatioYear1
Qualifying Distributions Year2546581QualifyingDistributionsYear2
Noncharitable Assets Year25336490NoncharitableAssetsYear2
Distribution Ratio Year20.102423DistributionRatioYear2
Qualifying Distributions Year3515329QualifyingDistributionsYear3
Noncharitable Assets Year35281302NoncharitableAssetsYear3
Distribution Ratio Year30.097576DistributionRatioYear3
Qualifying Distributions Year4503570QualifyingDistributionsYear4
Noncharitable Assets Year46345457NoncharitableAssetsYear4
Distribution Ratio Year40.079359DistributionRatioYear4
Qualifying Distributions Year5492466QualifyingDistributionsYear5
Noncharitable Assets Year56819362NoncharitableAssetsYear5
Distribution Ratio Year50.072216DistributionRatioYear5
Total Distribution Ratio0.403186TotalDistributionRatio
Average Distribution Ratio0.080637AverageDistributionRatio
Net Noncharitable Assets5441571NetNoncharitableAssets
Adjusted Noncharitable Assets438792AdjustedNoncharitableAssets
One Percent Net Investment Income1512OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One440304AdjNonchrtblAssetsAndOnePct
Qualifying Distributions234326QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

FieldValueIRS element (for citing)
Investment Income Excise Tax3025InvestmentIncomeExciseTax
Subtotal3025Subtotal
Tax Based On Investment Income3025TaxBasedOnInvestmentIncome
Est Tax Payments And Overpayment2924EstTaxPaymentsAndOverpayment
Tax Paid With Extension192TaxPaidWithExtension
Total Credits And Payments3116TotalCreditsAndPayments
Form2220 AttachedXForm2220Attached
Penalty For Underpayment9PenaltyForUnderpayment
Overpayment82Overpayment
Amount Credited To Next Year82AmountCreditedToNextYear

Statements Regarding Activities StatementsRegardingActivities

FieldValueIRS element (for citing)
Legislative Political ActivitiesfalseLegislativePoliticalActivities
More Than100 SpentfalseMoreThan100Spent
Form1120 POL FiledfalseForm1120POLFiled
Activities Not Prev ReportedfalseActivitiesNotPrevReported
Changes To Articles Or BylawsfalseChangesToArticlesOrBylaws
Unrelated Bus Income Over1000falseUnrelatedBusIncomeOver1000
Termination EtcfalseTerminationEtc
Requirements Of Sect508etrueRequirementsOfSect508e
At Least5000 In AssetstrueAtLeast5000InAssets
States Filed WithTXStatesFiledWith
Form990 PF Filed With AGtrueForm990PFFiledWithAG
Private Operating FoundationfalsePrivateOperatingFoundation
New Substantial ContributorsfalseNewSubstantialContributors
Interest In Controlled EntityfalseInterestInControlledEntity
Applicable Insurance ContractfalseApplicableInsuranceContract
Comply With Public Inspection RqrtrueComplyWithPublicInspectionRqr
Website AddressN/AWebsiteAddress
Books In Care Of Person NameWAYNE WARDBooksInCareOfPersonName
Books In Care Of Phone Number8175457281BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

FieldValueIRS element (for citing)
Address Line12350 AIRPORT FREEWAY SUITE 160AddressLine1
CityBEDFORDCity
StateTXState
ZIP Code76022ZIPCode
FieldValueIRS element (for citing)
Foreign BankfalseForeignBank

Statements Regarding Acty4720 StatementsRegardingActy4720

FieldValueIRS element (for citing)
Sale Or Exchange With Dsqfly PersonfalseSaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly PersonfalseBorrowOrLendWithDsqflyPerson
Furnished Goods With Dsqfly PersonfalseFurnishedGoodsWithDsqflyPerson
Pay Compensation To Dsqfly PersonfalsePayCompensationToDsqflyPerson
Transfer Assets To Dsqfly PersonfalseTransferAssetsToDsqflyPerson
Payment To Government OfficalfalsePaymentToGovernmentOffical
Undistributed Income Prior YearsfalseUndistributedIncomePriorYears
Business HoldingsfalseBusinessHoldings
Jeopardy InvestmentsfalseJeopardyInvestments
Uncorrected Jeopardy InvestmentsfalseUncorrectedJeopardyInvestments
Influence LegislationfalseInfluenceLegislation
Influence ElectionfalseInfluenceElection
Grants To IndividualsfalseGrantsToIndividuals
Grants To OrganizationsfalseGrantsToOrganizations
Noncharitable PurposefalseNoncharitablePurpose
Rcv Funds To Pay Prsnl Bnft ContractfalseRcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft ContractfalsePayPremiumsPrsnlBnftContract
Prohibited Tax Shelter TransactnfalseProhibitedTaxShelterTransactn

Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo

Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (6 entries)

Address Line1USAddress/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleAvg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPositionCompensationCompensationContri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtcExpense Account Other AllowancesExpenseAccountOtherAllowances
JOHN ADAMS
2350 AIRPORT FREEWAY STE 222BEDFORDTX76022PRESIDENT5.00000
PATRICIA ADAMS
2350 AIRPORT FREEWAY STE 222BEDFORDTX76022SECRETARY5.00000
JOHN ADAMS JR
2350 AIRPORT FREEWAY STE 222BEDFORDTX76022FORMER VP5.00000
LARY SNODGRASS
2350 AIRPORT FREEWAY STE 222BEDFORDTX76022TRUSTEE5.00000
SAM P BURFORD JR
2350 AIRPORT FREEWAY STE 222BEDFORDTX76022TRUSTEE5.00000
SHERRI ADAMS STEINFORD
1908 GROSVENOR LANECOLLEYVILLETX76034TRUSTEE5.00000
FieldValueIRS element (for citing)
Comp Of Highest Paid Empl NONENONECompOfHighestPaidEmplNONE
Comp Of Hghst Paid Cntrct NONENONECompOfHghstPaidCntrctNONE

Summary Of Direct Charitable Acty SummaryOfDirectCharitableActy

FieldValueIRS element (for citing)
Description1THE JOHN AND PATRICIA ADAMS FOUNDATION, A TAX-EXEMPT FOUNDATION, WAS ORGANIZED AND OPERATES TO PROMOTE THE AVAILABILITY OF HIGHER EDUCATION BY PROVIDING FUNDS AND SUPERVISION OF CLASSROOM EXPANSION AT INSTITUTIONS OF HIGHER LEARNING.Description1
Expenses1234326Expenses1

Sum Of Program Related Investments SumOfProgramRelatedInvestments

FieldValueIRS element (for citing)
Description1N/ADescription1

Minimum Investment Return MinimumInvestmentReturn

FieldValueIRS element (for citing)
Avg Monthly FMV Of Securities5358779AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances165659AvgMonthlyCashBalances
FMV All Other Noncharitable Assets0FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets5524438TotalFMVOfUnusedAssets
Adj Total FMV Of Unused Assets5524438AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable82867CashDeemedCharitable
Net Noncharitable Assets5441571NetNoncharitableAssets
Minimum Investment Return272079MinimumInvestmentReturn

Distributable DistributableAmount

FieldValueIRS element (for citing)
Minimum Investment Return272079MinimumInvestmentReturn
Tax Based On Investment Income3025TaxBasedOnInvestmentIncome
Total Tax3025TotalTax
Distributable Amount Before Adj269054DistributableAmountBeforeAdj
Distributable Amount Before Ded269054DistributableAmountBeforeDed
Distributable Amount As Adjusted269054DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

FieldValueIRS element (for citing)
Expenses And Contributions234326ExpensesAndContributions
Qualifying Distributions234326QualifyingDistributions
Adj Qualifying Distributions234326AdjQualifyingDistributions

Undistributed Income UndistributedIncome

FieldValueIRS element (for citing)
Distributable Amount As Adjusted269054DistributableAmountAsAdjusted
Excess Distri Carryover Year111798ExcessDistriCarryoverYear1
Total Excess Distri Carryover11798TotalExcessDistriCarryover
Qualifying Distributions234326QualifyingDistributions
Applied To Current Year234326AppliedToCurrentYear
Excess Distri Cyov App CY Corpus11798ExcessDistriCyovAppCYCorpus
Excess Distri Cyov Applied CY11798ExcessDistriCyovAppliedCY
Undistributed Income CY22930UndistributedIncomeCY

Supplementary Information SupplementaryInformation

FieldValueIRS element (for citing)
Only Contributes To PreselectedXOnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (5 entries)

Address Line1RecipientUSAddress/AddressLine1CityRecipientUSAddress/CityStateRecipientUSAddress/StateZIP CodeRecipientUSAddress/ZIPCodeRecipient RelationshipRecipientRelationshipRecipient Foundation StatusRecipientFoundationStatusPurpose Of Grant Or ContributionPurposeOfGrantOrContributionAmountAmountBusiness Name Line2RecipientBusinessName/BusinessNameLine2Address Line2RecipientUSAddress/AddressLine2
HEIDELBERG COLLEGE
310 E MARKET STTIFFINOH44883NONE501(C)3PATRICIA ADAM LECTURE SERIES$50,000
NORTHWEST COLORADO VISIT
940 CENTRAL PARK DRSTEAMBOAT SPRINGSCO80487NONE501(C)3ROLLINGSTONE RESPITE HOUSE$10,000ING NURSE ASSOCIATION INCSTE 101
AUSTIN COLLEGE
900 NORTH GRAND AVENUESHERMANTX750904400NONE501(C)3SCIENCE CENTER/IDEA CENTER$120,520SUITE 6P
HEIDELBERG COLLEGE
310 E MARKET STTIFFINOH44883NONE501(C)3SAURWEIN HEALTH & WELLNESS CTR$20,000
RANGER ACADEMIC ENRICHMENT FTD
PO BOX 179PERRYTONTX79070NONE501(C)3PATHWAY SCHOLARSHIP PROGRAM$25,000
FieldValueIRS element (for citing)
Tot Grant Or Contri Paid During Year225520TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst

FieldValueIRS element (for citing)
Exclusion Code14ExclusionCode
Exclusion$52,135ExclusionAmount

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

FieldValueIRS element (for citing)
Exclusion Code14ExclusionCode
Exclusion$132,843ExclusionAmount

Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry

FieldValueIRS element (for citing)
Exclusion Code18ExclusionCode
Exclusion$53,868ExclusionAmount

Subtotals Part XVIA SubtotalsPartXVIA

FieldValueIRS element (for citing)
Exclusion$238,846ExclusionAmount
FieldValueIRS element (for citing)
Total Part XVIA238846TotalPartXVIA

Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO

FieldValueIRS element (for citing)
Trnsfr Of Cash To Noncharitable EOfalseTrnsfrOfCashToNoncharitableEO
Trnsfr Oth Assets Noncharitable EOfalseTrnsfrOthAssetsNoncharitableEO
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssets
Purchase Assets Noncharitable EOfalsePurchaseAssetsNoncharitableEO
Rental Of Facilities EtcfalseRentalOfFacilitiesEtc
Reimbursement ArrangementsfalseReimbursementArrangements
Loans Or Loan GuaranteesfalseLoansOrLoanGuarantees
Performance Of Services EtcfalsePerformanceOfServicesEtc
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtc
Relationships Noncharitable E OsfalseRelationshipsNoncharitableEOs

Amortization Schedule AmortizationSchedule

Amortization Amortization

FieldValueIRS element (for citing)
Description Of Amortized ExpensesORGANIZATION COSTSDescriptionOfAmortizedExpenses
Date Acquired Completed Expended2006-08-24DateAcquiredCompletedExpended
Amount Amortized27475AmountAmortized
Deduction For Prior Years9922DeductionForPriorYears
Amortization Period15.0000AmortizationPeriod
Current Year Amortization1831CurrentYearAmortization
Net Investment Income1703NetInvestmentIncome
Adjusted Net Income128AdjustedNetIncome
Total Amount Of Amortization11753TotalAmountOfAmortization

Compensation Explanation CompensationExplanation

Compensation Compensation (6 entries)

JOHN ADAMS
PATRICIA ADAMS
JOHN ADAMS JR
LARY SNODGRASS
SAM P BURFORD JR
SHERRI ADAMS STEINFORD

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAsset

FieldValueIRS element (for citing)
NameINVESTMENT SALES - M LYNCHName
Date Acquired2008-01DateAcquired
How AcquiredPURCHASEHowAcquired
Date Sold2012-12DateSold
Gross Sales Price1474642GrossSalesPrice
Basis1416028Basis
Sales Expense4746SalesExpense
Total Net53868TotalNet

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock

FieldValueIRS element (for citing)
Name Of StockMUTUAL FUNDS - MERRILL LYNCHNameOfStock
EOY Book Value4840890EOYBookValue
EOYFMV5407352EOYFMV

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtc

FieldValueIRS element (for citing)
Category Or ItemACCUMULATED DEPRECIATIONCategoryOrItem
Cost Or Other Basis27475CostOrOtherBasis
Accumulated Depreciation11753AccumulatedDepreciation
Book Value15722BookValue

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses (3 entries)

DescriptionDescriptionRevenue And Expenses Per BooksRevenueAndExpensesPerBooksNet Investment IncomeNetInvestmentIncomeAdjusted Net IncomeAdjustedNetIncomeDisbursements Charitable PrpsDisbursementsCharitablePrps
EXPENSES
INVESTMENT MANAGEMENT FEES496712483624836
OFFICE EXPENSES870232022785221

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees OtherProfessionalFees

FieldValueIRS element (for citing)
CategoryACCTING, LEGAL, & CONSULTINGCategory
Amount$5,975Amount
Net Investment Income2199NetInvestmentIncome
Adjusted Net Income191AdjustedNetIncome
Disbursements Charitable Prps3585DisbursementsCharitablePrps

Taxes Schedule TaxesSchedule

Taxes Taxes

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategory
Amount$3,617Amount
Net Investment Income1809NetInvestmentIncome
Adjusted Net Income1809AdjustedNetIncome

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