MCKARNS FAMILY FOUNDATION: Form 990PF, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: MCKARNS FAMILY FOUNDATION (EIN 34-1664641)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-05-09
IRS object ID: 201321299349100907
Schema version: 2012v2.0
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
General Explanation Attachment
Investments Corp Stock Schedule
Other Expenses Schedule
Other Increases Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-05-09T05:59:40-07:00	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	Herrens Tax Service LLC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	12837 Cenfield St NE	AddressLine1
City	Alliance	City
State	OH	State
ZIP Code	446019414	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	341664641	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	MCKARNS FAMILY FOUNDATION	BusinessNameLine1
Business Name Line2	TR DTD 12311990	BusinessNameLine2

Field	Value	IRS element (for citing)
Name Control	MCKA	NameControl
Phone	3302232180	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	29950 CAMPBELL RD	AddressLine1
City	HANOVERTON	City
State	OH	State
ZIP Code	44423	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	WILLIAM T MCKARNS	Name
Title	CO-TRUSTEE	Title
Date Signed	2013-05-03	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Carolyn Herren Gabric	Name
PTIN	P00104093	PTIN
Phone	3308755701	Phone

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	68265	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	1330	DividendsRevAndExpnss
Dividends Net Invst Incm	1330	DividendsNetInvstIncm
Dividends Adj Net Incm	1330	DividendsAdjNetIncm
Net Gain Sale Assets Rev And Expnss	-1545	NetGainSaleAssetsRevAndExpnss
Gross Sales Price	8087	GrossSalesPrice
Total Revenue And Expenses	-215	TotalRevenueAndExpenses
Total Net Investment Income	1330	TotalNetInvestmentIncome
Total Adjusted Net Income	1330	TotalAdjustedNetIncome
Accounting Fees Rev And Expnss	350	AccountingFeesRevAndExpnss
Accounting Fees Net Invst Incm	140	AccountingFeesNetInvstIncm
Accounting Fees Dsbrs Chrtbl Prps	210	AccountingFeesDsbrsChrtblPrps
Taxes Rev And Expnss	91	TaxesRevAndExpnss
Taxes Net Invst Incm	36	TaxesNetInvstIncm
Taxes Dsbrs Chrtbl Prps	55	TaxesDsbrsChrtblPrps
Other Expenses Rev And Expnss	50	OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm	20	OtherExpensesNetInvstIncm
Other Expenses Dsbrs Chrtbl Prps	30	OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss	491	TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm	196	TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps	295	TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss	5550	ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps	5550	ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss	6041	TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm	196	TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps	5845	TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses	-6256	ExcessOfRevenueOverExpenses
Net Investment Income	1134	NetInvestmentIncome
Adjusted Net Income	1330	AdjustedNetIncome

Balance Sheets BalanceSheets

Field	Value	IRS element (for citing)
Cash EOYFMV	6666	CashEOYFMV
Savings And Temp Cash Invst BOY	3896	SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY	6666	SavingsAndTempCashInvstEOY
Investments Corp Stock BOY	32425	InvestmentsCorpStockBOY
Investments Corp Stock EOY	24302	InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV	61599	InvestmentsCorpStockEOYFMV
Total Assets BOY	36321	TotalAssetsBOY
Total Assets EOY	30968	TotalAssetsEOY
Total Assets EOYFMV	68265	TotalAssetsEOYFMV
Total Liabilities EOY	0	TotalLiabilitiesEOY
Org That Do Not Follow SFAS117	X	OrgThatDoNotFollowSFAS117
Capital Stock BOY	5022	CapitalStockBOY
Capital Stock EOY	5022	CapitalStockEOY
Paid In Or Capital Surplus BOY	50014	PaidInOrCapitalSurplusBOY
Paid In Or Capital Surplus EOY	50014	PaidInOrCapitalSurplusEOY
Retained Earnings BOY	-18715	RetainedEarningsBOY
Retained Earnings EOY	-24068	RetainedEarningsEOY
Total Net Assets BOY	36321	TotalNetAssetsBOY
Total Net Assets EOY	30968	TotalNetAssetsEOY
Total Liabilities Net Assets BOY	36321	TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY	30968	TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

Field	Value	IRS element (for citing)
Total Net Assets Fund Balances BOY	36321	TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses	-6256	ExcessOfRevenueOverExpenses
Other Increases	903	OtherIncreases
Subtotal	30968	Subtotal
Total Net Assets Fund Balances EOY	30968	TotalNetAssetsFundBalancesEOY

Capital Gains And Losses CapitalGainsAndLosses

Field	Value	IRS element (for citing)
Capital Gain Net Income	-1545	CapitalGainNetIncome
Net Short Term Capital Gain Or Loss	-11	NetShortTermCapitalGainOrLoss

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

Field	Value	IRS element (for citing)
Liable For4942 Tax	false	LiableFor4942Tax
Qualifying Distributions Year1	4764	QualifyingDistributionsYear1
Noncharitable Assets Year1	45212	NoncharitableAssetsYear1
Distribution Ratio Year1	0.10537	DistributionRatioYear1
Qualifying Distributions Year2	4659	QualifyingDistributionsYear2
Noncharitable Assets Year2	27327	NoncharitableAssetsYear2
Distribution Ratio Year2	0.17049	DistributionRatioYear2
Qualifying Distributions Year3	4863	QualifyingDistributionsYear3
Qualifying Distributions Year4	10972	QualifyingDistributionsYear4
Noncharitable Assets Year4	37039	NoncharitableAssetsYear4
Distribution Ratio Year4	0.29623	DistributionRatioYear4
Qualifying Distributions Year5	20112	QualifyingDistributionsYear5
Noncharitable Assets Year5	43012	NoncharitableAssetsYear5
Distribution Ratio Year5	0.46759	DistributionRatioYear5
Total Distribution Ratio	1.03968	TotalDistributionRatio
Average Distribution Ratio	0.20794	AverageDistributionRatio
Net Noncharitable Assets	65575	NetNoncharitableAssets
Adjusted Noncharitable Assets	13635	AdjustedNoncharitableAssets
One Percent Net Investment Income	11	OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One	13646	AdjNonchrtblAssetsAndOnePct
Qualifying Distributions	5845	QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

Field	Value	IRS element (for citing)
Investment Income Excise Tax	23	InvestmentIncomeExciseTax
Subtotal	23	Subtotal
Tax Based On Investment Income	23	TaxBasedOnInvestmentIncome
Tax Due	23	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
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	WILLIAM T MCKARNS	BusinessNameLine1

Field	Value	IRS element (for citing)
Books In Care Of Phone Number	3302232180	BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

Field	Value	IRS element (for citing)
Address Line1	29950 CAMPBELL RD	AddressLine1
City	HANOVERTON	City
State	OH	State
ZIP Code	44423	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
PAULINE M MCKARNS
29950 CAMPBELL RD	HANOVERTON	OH	44423	CO-TRUSTEE	0.25	0
WILLIAM T MCKARNS
29950 CAMPBELL RD	HANOVERTON	OH	44423	CO-TRUSTEE	0.25	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	61293	AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances	5281	AvgMonthlyCashBalances
FMV All Other Noncharitable Assets	0	FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets	66574	TotalFMVOfUnusedAssets
Reduction Claimed	0	ReductionClaimed
Adj Total FMV Of Unused Assets	66574	AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable	999	CashDeemedCharitable
Net Noncharitable Assets	65575	NetNoncharitableAssets
Minimum Investment Return	3279	MinimumInvestmentReturn

Distributable DistributableAmount

Field	Value	IRS element (for citing)
Minimum Investment Return	3279	MinimumInvestmentReturn
Tax Based On Investment Income	23	TaxBasedOnInvestmentIncome
Total Tax	23	TotalTax
Distributable Amount Before Adj	3256	DistributableAmountBeforeAdj
Distributable Amount Before Ded	3256	DistributableAmountBeforeDed
Distributable Amount As Adjusted	3256	DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

Field	Value	IRS element (for citing)
Expenses And Contributions	5845	ExpensesAndContributions
Qualifying Distributions	5845	QualifyingDistributions
Adj Qualifying Distributions	5845	AdjQualifyingDistributions

Undistributed Income UndistributedIncome

Field	Value	IRS element (for citing)
Distributable Amount As Adjusted	3256	DistributableAmountAsAdjusted
Excess Distri Carryover Year5	17993	ExcessDistriCarryoverYear5
Excess Distri Carryover Year4	9138	ExcessDistriCarryoverYear4
Excess Distri Carryover Year3	4869	ExcessDistriCarryoverYear3
Excess Distri Carryover Year2	3303	ExcessDistriCarryoverYear2
Excess Distri Carryover Year1	2594	ExcessDistriCarryoverYear1
Total Excess Distri Carryover	37897	TotalExcessDistriCarryover
Qualifying Distributions	5845	QualifyingDistributions
Treated As Distri From Corpus	0	TreatedAsDistriFromCorpus
Applied To Current Year	3256	AppliedToCurrentYear
Remaining Distri From Corpus	2589	RemainingDistriFromCorpus
Total Corpus	40486	TotalCorpus
Undistributed Income CY	0	UndistributedIncomeCY
Excess Distri Cyov From Year5	17993	ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year	22493	ExcessDistriCyovToNextYear
Excess From Year4	9138	ExcessFromYear4
Excess From Year3	4869	ExcessFromYear3
Excess From Year2	3303	ExcessFromYear2
Excess From Year1	2594	ExcessFromYear1
Excess From Current Year	2589	ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

Field	Value	IRS element (for citing)
Only Contributes To Preselected	X	OnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (8 entries)

Address Line1RecipientUSAddress/AddressLine1	CityRecipientUSAddress/City	StateRecipientUSAddress/State	ZIP CodeRecipientUSAddress/ZIPCode	Recipient RelationshipRecipientRelationship	Recipient Foundation StatusRecipientFoundationStatus	Purpose Of Grant Or ContributionPurposeOfGrantOrContribution	AmountAmount
ALZHEIMER'S ASSOC
PO BOX 96011	WASHINGTON	DC	20090	N/A	PUBLIC	MEDICAL	$200
CAMP FANNIN VETERAN MEMORIAL FUND
PO BOX 132024	TYLER	TX	75713	N/A	PUBLIC	NON-PROFIT	$100
ST JOHN'S ABBEY
PO BOX 2015	COLLEGEVILLE	MN	56321	N/A	PUBLIC	RELIGIOUS	$100
HANOVERTON FIRE DEPT
10235 2ND ST	HANOVERTON	OH	44423	N/A	PUBLIC	NON-PROFIT	$50
ST GABRIEL'S CHURCH
400 W HIGH ST	MINERVA	OH	44657	N/A	PUBLIC	RELIGIOUS	$100
HANOVERTON PRESBYTERIAN CHURCH
PO BOX 127	HANOVERTON	OH	44423	N/A	PUBLIC	RELIGIOUS	$100
BISHOPS APPEAL DIOCESE OF YOUNGSTOW
PO BOX 1195	YOUNGSTOWN	OH	44501	N/A	PUBLIC	RELIGIOUS	$1,000
ST JOHN'S CHURCH
PO BOX 309	HANOVERTON	OH	44423	N/A	PUBLIC	RELIGIOUS	$3,900

Field	Value	IRS element (for citing)
Tot Grant Or Contri Paid During Year	5550	TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	1330	RelatedOrExemptFunctionIncome

Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	-1545	RelatedOrExemptFunctionIncome

Subtotals Part XVIA SubtotalsPartXVIA

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	-215	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Part XVIA	-215	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	Tax Preparation Fee Form 990	Category
Amount	$350	Amount
Net Investment Income	140	NetInvestmentIncome
Adjusted Net Income	0	AdjustedNetIncome
Disbursements Charitable Prps	210	DisbursementsCharitablePrps

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanation (2 entries)

ExplanationExplanation
OHIO FILING INSTRUCTIONS:Enclose a check for $50 payable to: Treasurer, State of Ohio. Sign and mail form, "Verification of Filing with the Internal Revenue Service", by May 15th to: Ohio Attorney General Charitable Law Section 150 E. Gay St., 23rd Floor Columbus, OH 43215-3130
PUBLIC NOTICE:Run notice in your local newspaper: PUBLIC NOTICE The Annual Report of TheMcKarns Family Foundation isavailable at its principleoffice for inspection duringregular business hours by anycitizen who requests it within180 days after the date ofthis notice. The address ofThe McKarns Family Foundationis 29950 Campbell Road, Han-overton, OH 44423, and itsmanager to contact is Mr.William McKarns, telephonenumber (330) 223-2180. Datedthis ________ The McKarns Fam-ily Foundation.Published in______________________________Date _________________________.

ExplanationExplanation

OHIO FILING INSTRUCTIONS:Enclose a check for $50 payable to: Treasurer, State of Ohio. Sign and mail form, "Verification of Filing with the Internal Revenue Service", by May 15th to: Ohio Attorney General Charitable Law Section 150 E. Gay St., 23rd Floor Columbus, OH 43215-3130

PUBLIC NOTICE:Run notice in your local newspaper: PUBLIC NOTICE The Annual Report of TheMcKarns Family Foundation isavailable at its principleoffice for inspection duringregular business hours by anycitizen who requests it within180 days after the date ofthis notice. The address ofThe McKarns Family Foundationis 29950 Campbell Road, Han-overton, OH 44423, and itsmanager to contact is Mr.William McKarns, telephonenumber (330) 223-2180. Datedthis ________ The McKarns Fam-ily Foundation.Published in______________________________Date _________________________.

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock (4 entries)

Name Of StockNameOfStock	EOY Book ValueEOYBookValue	EOYFMVEOYFMV
300 SH TERADATA CORP	2702	18567
285 SH PEPSICO INC.	3831	19503
200 SH DISNEY STOCK	4187	9958
DODGE & COX FUND	13582	13571

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses

Field	Value	IRS element (for citing)
Description	Ohio Filing Fees	Description
Revenue And Expenses Per Books	50	RevenueAndExpensesPerBooks
Net Investment Income	20	NetInvestmentIncome
Disbursements Charitable Prps	30	DisbursementsCharitablePrps

Other Increases Schedule OtherIncreasesSchedule

Other Increases OtherIncreases

Field	Value	IRS element (for citing)
Description	Correct Cost Basis of Disney Stock	Description
Amount	$903	Amount

Taxes Schedule TaxesSchedule

Taxes Taxes

Field	Value	IRS element (for citing)
Category	U.S. Treasury	Category
Amount	$91	Amount
Net Investment Income	36	NetInvestmentIncome
Disbursements Charitable Prps	55	DisbursementsCharitablePrps