2013-05-15T15:05:53-05:00 2012-06-30 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2011-07-01 364341914 Bucksbaum Family Foundation BUCK 3123574790 30 South Wells Street No 4049 Chicago IL 60606 David S Rosen 3123574790 2013-05-15 1 David Faje P00031371 3126343400 2011 2016-02-24 21:20:13Z Carolyn Bucksbaum 30 South Wells Street No 4049 Chicago IL 60606 559 0 X N/A X 2000 IL The Foundation was organized to foster, promote, support, develop, encourage & maintain charitable activities and vital human and educational services as authorized in its by-laws and the charter of Jewish Federation of Metropolitan Chicago. 5 3 0 3 0 0 0 0 0 0 2450 559 0 0 2450 559 250000 325000 0 0 0 0 0 0 0 4400 4793 254400 329793 -251950 -329234 5741444 5411477 5133 4400 5736311 5407077 The Foundation was organized to foster, promote, support, develop, encourage & maintain charitable activities and vital human and educational services as authorized in its by-laws and the charter of the Jewish Federation of Metropolitan Chicago. 0 0 325000 325000 The Foundation makes grants to organizations, all of which meet the guidelines of the by-laws of the Foundation and the charter of the Jewish Federation of Metropolitan Chicago. All these organizations are exempt under IRC Section 501(c)(3). 325000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 1 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 IL X Peter Chiswick 3124442814 30 South Wells Suite 4049 Chicago IL 60606 Carolyn Bucksbaum 0.30 X X 0 0 0 John Bucksbaum 0.30 X X 0 0 0 Marshall E Eisenberg 0.30 X X 0 0 0 Dr Steven B Nasatir 0.30 X X 0 74402 15485 David S Rosen 0.30 X X 0 290817 122131 James Pinkston 0.30 X 0 23158 2722 Eric Devir 0.30 X 0 41716 10439 0 430093 150777 0 0 1 0 0 559 559 559 0 0 559 325000 325000 352 352 4400 4400 Filing Fees 41 41 329793 325000 4793 0 5741444 5411477 5741444 5411477 4400 4400 733 5133 4400 X 0 0 0 0 5736311 5407077 5736311 5407077 5741444 5411477 -329234 0 X 0 1 1 X 0 X X X 0 0 0 Jewish Federation of Metropolitan Chicago 362167761 7 1 0 1 0 0 Description of Uncertain Tax Positions Under FIN 48: Part X: Bucksbaum Family Foundation (the Foundation) is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. At June 30, 2012 and 2011, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files Form 990 in the U.S. federal jurisdiction and the State of Illinois. The Foundation is generally no longer subject to examination by the Internal Revenue Service for years before 2009. 1 Jewish United Fund of Metropolitan Chicago 30 South Wells Suite 4049 Chicago IL 60606 362167034 501(C)(3) 250000 General Operating Support Music Associates of Aspen Inc 225 Music School Road Aspen CO 81611 840445087 501(C)(3) 75000 General Operating Support 2 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Foundation staff perform due diligence on all organizations seeking grants from the Foundation and review grant compliance each year. 0 1 0 0 0 0 0 0 0 David S Rosen 0 278152 0 0 0 12665 0 114632 0 8276 0 413725 0 0 Part I, Line 4b Steven B. Nasatir: In 1999 the Jewish Federation entered into an agreement with Steven Nasatir that was contingent upon 5 more years of service as president and CEO and would result in annual payments of $50,000 per year (net of tax) beginning at age 64 and lasting throughout his lifetime. Dr. Nasatir began receiving payments under this agreement in 2009. The $50,000 per year amount is to be adjusted annually in accordance with the CPI index. This benefit is payable to him only for as long as he lives. There is no guaranteed payment amount and no survivor benefit at his death. In addition, the Jewish Federation has agreed to provide Steven Nasatir with a split dollar $1,000,000 insured death benefit. The insurance is designed so that upon Steven Nasatir's death, the Federation will receive a benefit equal to all of the premiums paid. The life insurance benefit is provided tax free to Steven Nasatir so there is an additional cash payment to Steven Nasatir each year to cover the taxes on the PS58 costs as well as the taxes grossed up. David Rosen: The Jewish Federation has an agreement with David Rosen which provides for annual payments of $25,000 per year beginning in 2018 and lasting for ten years. Form 990, Part VI, Section A, line 2 Carolyn Bucksbaum and John Bucksbaum have a family relationship. Form 990, Part VI, Section A, line 6 The by-laws stipulate that members of the foundation are divided into three classes: the donor member, the publicly supported organization member, which is the Jewish Federation of Metropolitan Chicago, and the independent member. The by-laws stipulate that the initial independent member be chosen by the publicly supported organization member and that any successor independent member is subject to the consent and approval of the publicly supported organization member. Furthermore, no person who is a "disqualified person" as such term is defined in Section 4946 of the code (or the corresponding provisions of any future United States internal revenue statute) shall qualify as an independent member. Form 990, Part VI, Section A, line 7a The board of directors consists of 5 total persons, 1 of whom is elected by the donor member, 1 of whom is elected by the independent member, and 3 of whom are elected by the publicly supported organization member pursuant to its established procedures. Form 990, Part VI, Section B, line 11 A board member and officer appointed by the Jewish Federation reviewed the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c A conflict of interest questionnaire is circulated to all board members on a regular basis. This process is managed by the foundation's secretary who ensures that all questionnaires are completed. The completed questionnaires are reviewed and any conflicts are disclosed to the board of directors. If a director does have a conflict of interest or business relationship, he or she is required to abstain from votes related to that matter. Form 990, Part VI, Section C, line 19 Upon request Jewish Federation of Metropolitan Chicago 30 South Wells Suite 4049 Chicago IL 60606 362167761 Social Welfare Institution IL 501(C)(3) Line 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0