FOUNDATION FOR THE PROMOTION OF INDIVIDUAL OPPORTUNITY INC: Form 990PF, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- FOUNDATION FOR THE PROMOTION OF INDIVIDUAL OPPORTUNITY INC (EIN 27-4000049)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-11
- IRS object ID
- 201231359349102258
- Schema version
- 2011v1.2
- 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
- General Explanation Attachment
- Investments Corp Stock Schedule
- Other Expenses Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-11T10:46:46-00:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 55 Walls Drive | AddressLine1 |
| City | Fairfield | City |
| State | CT | State |
| ZIP Code | 06824 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 274000049 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Foundation for the Promotion of Individual Opportunity Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FOUN | NameControl |
| Phone | 8008391754 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Charles M Ober | Name |
| Title | President | Title |
| Date Signed | 2012-05-11 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Jeffrey D Haskell | Name |
| Phone | 8008391754 | Phone |
| Date Prepared | 2012-05-11 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | 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 | 978845 | 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 |
| Interest On Savings Rev And Expnss | 2 | InterestOnSavingsRevAndExpnss |
| Interest On Savings Net Invst Incm | 2 | InterestOnSavingsNetInvstIncm |
| Dividends Rev And Expnss | 50864 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 50864 | DividendsNetInvstIncm |
| Net Gain Sale Assets Rev And Expnss | 39067 | NetGainSaleAssetsRevAndExpnss |
| Gross Sales Price | 1044008 | GrossSalesPrice |
| Capital Gain Net Incm Net Invst Incm | 1042917 | CapitalGainNetIncmNetInvstIncm |
| Total Revenue And Expenses | 89933 | TotalRevenueAndExpenses |
| Total Net Investment Income | 1093783 | TotalNetInvestmentIncome |
| Other Prof Fees Rev And Expnss | 6562 | OtherProfFeesRevAndExpnss |
| Other Prof Fees Net Invst Incm | 6562 | OtherProfFeesNetInvstIncm |
| Taxes Rev And Expnss | 10881 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 12387 | OtherExpensesRevAndExpnss |
| Other Expenses Dsbrs Chrtbl Prps | 12387 | OtherExpensesDsbrsChrtblPrps |
| Tot Opr Expenses Rev And Expnss | 29830 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 6562 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 12387 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 8000 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 8000 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 37830 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 6562 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 20387 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 52103 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 1087221 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 4050 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 67341 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 67341 | SavingsAndTempCashInvstEOYFMV |
| Investments Corp Stock BOY | 1004941 | InvestmentsCorpStockBOY |
| Investments Corp Stock EOY | 993753 | InvestmentsCorpStockEOY |
| Investments Corp Stock EOYFMV | 911504 | InvestmentsCorpStockEOYFMV |
| Total Assets BOY | 1008991 | TotalAssetsBOY |
| Total Assets EOY | 1061094 | TotalAssetsEOY |
| Total Assets EOYFMV | 978845 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 1008991 | RetainedEarningsBOY |
| Retained Earnings EOY | 1061094 | RetainedEarningsEOY |
| Total Net Assets BOY | 1008991 | TotalNetAssetsBOY |
| Total Net Assets EOY | 1061094 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 1008991 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 1061094 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 1008991 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 52103 | ExcessOfRevenueOverExpenses |
| Subtotal | 1061094 | Subtotal |
| Total Net Assets Fund Balances EOY | 1061094 | TotalNetAssetsFundBalancesEOY |
Capital Gains And Losses CapitalGainsAndLosses
Capital Gains And Losses Info CapitalGainsAndLossesInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Of Asset | Publicly-traded Securities | DescriptionOfAsset |
| Gross Sales Price | 1044008 | GrossSalesPrice |
| Cost Or Other Basis | 1091 | CostOrOtherBasis |
| Gain Or Loss | 1042917 | GainOrLoss |
| Gains Minus Excess Or Losses | 1042917 | GainsMinusExcessOrLosses |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | 1042917 | CapitalGainNetIncome |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Noncharitable Assets Year1 | 503216 | NoncharitableAssetsYear1 |
| Net Noncharitable Assets | 994935 | NetNoncharitableAssets |
| One Percent Net Investment Income | 10872 | OnePercentNetInvestmentIncome |
| Adj Nonchrtbl Assets And One | 10872 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 20387 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 10872 | InvestmentIncomeExciseTax |
| Subtotal | 10872 | Subtotal |
| Tax Based On Investment Income | 10872 | TaxBasedOnInvestmentIncome |
| Est Tax Payments And Overpayment | 10800 | EstTaxPaymentsAndOverpayment |
| Total Credits And Payments | 10800 | TotalCreditsAndPayments |
| Tax Paid Original Return | 10800 | TaxPaidOriginalReturn |
| Form2220 Attached | X | Form2220Attached |
| Tax Due | 72 | 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 |
| 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 |
Books In Care Of Business Name BooksInCareOfBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Books In Care Of Phone Number | 8008391754 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 Silverside Road Suite 123 | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | 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 |
| Uncorrected Prior Acts | false | UncorrectedPriorActs |
| 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 |
| Pay Premiums Prsnl Bnft Contract | false | PayPremiumsPrsnlBnftContract |
| Prohibited Tax Shelter Transactn | false | ProhibitedTaxShelterTransactn |
| Proceeds Or Net Income | true | ProceedsOrNetIncome |
Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo
Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person Name | Charles M Ober | PersonName |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 19809 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | President / Director / Secretary | Title |
| Avg Hours Per Wk Devoted To Position | 001.00 | AvgHoursPerWkDevotedToPosition |
| Compensation | 0 | Compensation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 844422 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 165664 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 1010086 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 1010086 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 15151 | CashDeemedCharitable |
| Net Noncharitable Assets | 994935 | NetNoncharitableAssets |
| Minimum Investment Return | 49747 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 49747 | MinimumInvestmentReturn |
| Tax Based On Investment Income | 10872 | TaxBasedOnInvestmentIncome |
| Total Tax | 10872 | TotalTax |
| Distributable Amount Before Adj | 38875 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 38875 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 38875 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 20387 | ExpensesAndContributions |
| Qualifying Distributions | 20387 | QualifyingDistributions |
| One Pct Sect4940e Org Net Invst Incm | 10872 | OnePctSect4940eOrgNetInvstIncm |
| Adj Qualifying Distributions | 9515 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 38875 | DistributableAmountAsAdjusted |
| Undistributed Income Prior Year | 2952 | UndistributedIncomePriorYear |
| Qualifying Distributions | 20387 | QualifyingDistributions |
| Applied To Year1 | 2952 | AppliedToYear1 |
| Applied To Current Year | 17435 | AppliedToCurrentYear |
| Undistributed Income CY | 21440 | UndistributedIncomeCY |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Charles M Ober | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (3 entries)
| Address Line1RecipientUSAddress/AddressLine1 | CityRecipientUSAddress/City | StateRecipientUSAddress/State | ZIP CodeRecipientUSAddress/ZIPCode | Recipient RelationshipRecipientRelationship | Recipient Foundation StatusRecipientFoundationStatus | Purpose Of Grant Or ContributionPurposeOfGrantOrContribution | AmountAmount |
|---|---|---|---|---|---|---|---|
| CONTEMPORARY MUSEUM INC | |||||||
| 100 W CENTRE ST | BALTIMORE | MD | 21201 | N/A | 509(a)(1) | General Unrestricted | $5,000 |
| GREATER HOMEWOOD COMMUNITY CORP | |||||||
| 3503 N CHARLES ST | BALTIMORE | MD | 21218 | N/A | 509(a)(1) | General Unrestricted | $1,000 |
| MARYLAND FOOD BANK INC | |||||||
| 2200 HALETHORPE FARMS RD | BALTIMORE | MD | 21227 | N/A | 509(a)(1) | Taste of the NFL Kick Hunger Campaign | $2,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 8000 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $2 | ExclusionAmount |
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $50,864 | ExclusionAmount |
Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 18 | ExclusionCode |
| Exclusion | $39,067 | ExclusionAmount |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $89,933 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 89933 | 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 |
General Explanation Attachment GeneralExplanationAttachment
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corp Stock InvestmentsCorpStock (8 entries)
| Name Of StockNameOfStock | EOY Book ValueEOYBookValue | EOYFMVEOYFMV |
|---|---|---|
| 2414 shares of COHEN STEERS GLOBAL REALTY SHARES, INC CLASS A CSFAX | 100000 | 88300 |
| 90479 shares of FRANK CUSTODIAN INCM SR CL A FKINX | 203600 | 190004 |
| 26849 shares of HENDERSON GLOBAL EQUITY INCOME FUND CLASS A HFQAX | 204891 | 185256 |
| 4918 shares of LOOMIS SAYLES ABSOLUTE STRATEGIES LABAX | 50166 | 45937 |
| 2691 shares of LOOMIS SAYLES FDS STRATEGIC INCM FD CL A TR II NEFZX | 40532 | 38667 |
| 15114 shares of PIMCO FUNDS PACIFIC INVESTMENT MANAGEMENT PAUAX | 160882 | 150686 |
| 12933 shares of PIMCO GLOBAL MULTI ASSET FUND CL A PGMAX | 152324 | 138253 |
| 5995 shares of TEMPLETON GLOBAL BOND FUND - CLASS A TPINX | 81358 | 74401 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks | Disbursements Charitable PrpsDisbursementsCharitablePrps |
|---|---|---|
| Administrative Fees | 7262 | 7262 |
| Administrative SetUp Fee | 3750 | 3750 |
| Delaware Incorporation Fees | 500 | 500 |
| IRS Application Fees | 850 | 850 |
| State or Local Filing Fees | 25 | 25 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees OtherProfessionalFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment Management Services | Category |
| Amount | $6,562 | Amount |
| Net Investment Income | 6562 | NetInvestmentIncome |
Taxes Schedule TaxesSchedule
Taxes Taxes (2 entries)
| CategoryCategory | AmountAmount | Net Investment IncomeNetInvestmentIncome | Adjusted Net IncomeAdjustedNetIncome | Disbursements Charitable PrpsDisbursementsCharitablePrps |
|---|---|---|---|---|
| Estimated Tax for 2011 | $10,800 | 0 | 0 | 0 |
| Excise Tax for 2010 | $81 | 0 | 0 | 0 |
Comments