KULLY FAMILY FOUNDATION: Form 990PF, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- KULLY FAMILY FOUNDATION (EIN 45-4027161)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-05-13
- IRS object ID
- 201341339349101999
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-13T17:45:53-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364434738 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Terry A Skworch | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 305 Wyoma Lane | AddressLine1 |
| City | Schaumburg | City |
| State | IL | State |
| ZIP Code | 601931071 | 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 | 454027161 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Kully Family Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | KULL | NameControl |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1550 N State Street Unit 201 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60610 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Sandra Kully | Name |
| Title | Director | Title |
| Phone | 3122551264 | Phone |
| Date Signed | 2013-05-10 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Terry A Skworch | Name |
| PTIN | P01055464 | PTIN |
| Phone | 8479858143 | Phone |
| Date Prepared | 2013-05-13 | DatePrepared |
| Self Employed | X | SelfEmployed |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | X | AddressChange |
| Exempt PF | X | ExemptPF |
| FMV Assets EOY | 478505 | FMVAssetsEOY |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Received Rev And Expnss | 500115 | ContriReceivedRevAndExpnss |
| Dividends Rev And Expnss | 5 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 5 | DividendsNetInvstIncm |
| Gross Sales Price | 500000 | GrossSalesPrice |
| Total Revenue And Expenses | 500120 | TotalRevenueAndExpenses |
| Total Net Investment Income | 5 | TotalNetInvestmentIncome |
| Other Expenses Rev And Expnss | 115 | OtherExpensesRevAndExpnss |
| Other Expenses Dsbrs Chrtbl Prps | 115 | OtherExpensesDsbrsChrtblPrps |
| Tot Opr Expenses Rev And Expnss | 115 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 0 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 115 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 56500 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 56500 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 56615 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 0 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 56615 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 443505 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 5 | NetInvestmentIncome |
| Adjusted Net Income | 0 | AdjustedNetIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 35000 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 478505 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 478505 | SavingsAndTempCashInvstEOYFMV |
| Total Assets BOY | 35000 | TotalAssetsBOY |
| Total Assets EOY | 478505 | TotalAssetsEOY |
| Total Assets EOYFMV | 478505 | TotalAssetsEOYFMV |
| Total Liabilities BOY | 0 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Capital Stock BOY | 35000 | CapitalStockBOY |
| Retained Earnings EOY | 478505 | RetainedEarningsEOY |
| Total Net Assets BOY | 35000 | TotalNetAssetsBOY |
| Total Net Assets EOY | 478505 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 35000 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 478505 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 35000 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 443505 | ExcessOfRevenueOverExpenses |
| Subtotal | 478505 | Subtotal |
| Total Net Assets Fund Balances EOY | 478505 | TotalNetAssetsFundBalancesEOY |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 115000 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 35000 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 3.285714 | DistributionRatioYear1 |
| Total Distribution Ratio | 3.285714 | TotalDistributionRatio |
| Average Distribution Ratio | 3.285714 | AverageDistributionRatio |
| Net Noncharitable Assets | 70881 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 232895 | AdjustedNoncharitableAssets |
| Adj Nonchrtbl Assets And One | 232895 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 56615 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | 0 | InvestmentIncomeExciseTax |
| Tax Under Section511 | 0 | TaxUnderSection511 |
| Subtitle A Tax | 0 | SubtitleATax |
| Tax Based On Investment Income | 0 | TaxBasedOnInvestmentIncome |
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 | IL | StatesFiledWith |
| Form990 PF Filed With AG | true | Form990PFFiledWithAG |
| 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 | na | WebsiteAddress |
| Books In Care Of Person Name | Sandra Kully | BooksInCareOfPersonName |
| Books In Care Of Phone Number | 3122551264 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1550 N State Street Unit 201 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60610 | ZIPCode |
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 |
| Uncorrected Prior Acts | false | UncorrectedPriorActs |
| Undistributed Income Prior Years | false | UndistributedIncomePriorYears |
| Undistr Income4942a2 Not Applied | false | UndistrIncome4942a2NotApplied |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Sandra Kully | ||||||||
| 1550 N State Street Unit 201 | Chicago | IL | 60610 | Director | 1.00 | 0 | 0 | 0 |
| Jonathan Kully | ||||||||
| 1550 N State Street Unit 201 | Chicago | IL | 60610 | Director | 1.00 | 0 | 0 | 0 |
| Deborah G Kully | ||||||||
| 1550 N State Street Unit 201 | Chicago | IL | 60610 | Director | 1.00 | 0 | 0 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
| Tot Number Of Oth Empl Paid Over50k | 0 | TotNumberOfOthEmplPaidOver50k |
Summary Of Direct Charitable Acty SummaryOfDirectCharitableActy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | Makes gifts to other charities | Description1 |
| Expenses1 | 0 | Expenses1 |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 0 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 71960 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 71960 | TotalFMVOfUnusedAssets |
| Acquisition Indebtedness | 0 | AcquisitionIndebtedness |
| Adj Total FMV Of Unused Assets | 71960 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 1079 | CashDeemedCharitable |
| Net Noncharitable Assets | 70881 | NetNoncharitableAssets |
| Minimum Investment Return | 3544 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 3544 | MinimumInvestmentReturn |
| Distributable Amount Before Adj | 3544 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 3544 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 3544 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 56615 | ExpensesAndContributions |
| Qualifying Distributions | 56615 | QualifyingDistributions |
| Adj Qualifying Distributions | 56615 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 3544 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year1 | 113250 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 113250 | TotalExcessDistriCarryover |
| Qualifying Distributions | 56615 | QualifyingDistributions |
| Applied To Current Year | 3544 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 53071 | RemainingDistriFromCorpus |
| Total Corpus | 166321 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov To Next Year | 166321 | ExcessDistriCyovToNextYear |
| Excess From Year1 | 113250 | ExcessFromYear1 |
| Excess From Current Year | 53071 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | None | ContributingManager |
| Shareholder Manager | None | ShareholderManager |
| 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 RelationshipRecipientRelationship | Recipient Foundation StatusRecipientFoundationStatus | Purpose Of Grant Or ContributionPurposeOfGrantOrContribution | AmountAmount |
|---|---|---|---|---|---|---|---|
| Cancer Research Foundation | |||||||
| 3354 N Paulina St Unit 208 | Chicago | IL | 60657 | None | Public Cha | Ceneral | $1,000 |
| Greater ChicagoFood Depository | |||||||
| 4100 West Anee Lurie Place | Chicago | IL | 60632 | None | Public Cha | General | $1,000 |
| Jewish Vocational Service | |||||||
| 216 West Jackson Suite 700 | Chicago | IL | 60606 | None | Public Cha | General | $52,500 |
| Lynn Sage Cancer Research Fnd | |||||||
| 251 East Huron Suite 3 200 | Chicago | IL | 60611 | None | Public Cha | General | $1,000 |
| Alzheimer Foundation America | |||||||
| 322 Eighth Ave 7th Floor | New York | NY | 10001 | None | Public Cha | General | $1,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 56500 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Income | $4 | UnrelatedBusinessIncomeAmount |
| Exclusion Code | 14 | ExclusionCode |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Income | $4 | UnrelatedBusinessIncomeAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 4 | 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 |
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 | Thomas R Kully Trust dtd 012198 | ContributorNameIndividual |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1550 N State St Unit 201 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60610 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | 500000 | AggregateContributions |
| Noncash Contribution Type | X | NoncashContributionType |
Noncash Property NoncashProperty
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number From Part I | 1 | ContributorNumberFromPartI |
| Noncash Property Description | Shares of William Blair Low Duration Fund | NoncashPropertyDescription |
| Fair Market Value | 500000 | FairMarketValue |
| Date Received | 2012-12-20 | DateReceived |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Illinois Charity Bureau | Description |
| Revenue And Expenses Per Books | 115 | RevenueAndExpensesPerBooks |
| Net Investment Income | 0 | NetInvestmentIncome |
| Adjusted Net Income | 0 | AdjustedNetIncome |
| Disbursements Charitable Prps | 115 | DisbursementsCharitablePrps |
Substantial Contributors Sch SubstantialContributorsSch
Substantial Contributor SubstantialContributor
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person Name | Thomas Kully Trust dtd 012198 | PersonName |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1550 N State St Unit 201 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60610 | ZIPCode |
Comments