ROCHELLE AND JEFF SITT FAMILY FOUNDATION: Form 990PF, tax year 2011
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- Organization
- ROCHELLE AND JEFF SITT FAMILY FOUNDATION (EIN 34-1994510)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-29
- IRS object ID
- 201231509349100003
- 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
- Accounting Fees Schedule
- Compensation Explanation
- Investments Other Schedule2
- Other Decreases Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Other Receivables Officers Sch
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-29T08:51:23-05:00 | 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 | MILLER & COMPANY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1206 149TH ST | AddressLine1 |
| City | WHITESTONE | City |
| State | NY | State |
| ZIP Code | 113571742 | 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 | 341994510 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEFFREY & CEILEE SITT FAMILY | BusinessNameLine1 |
| Business Name Line2 | FOUNDATION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | JEFF | NameControl |
| Phone | 9176085702 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 JAY STREET | AddressLine1 |
| Address Line2 | ROOM/SUITE 902 | AddressLine2 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11201 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JEFFREY SITT | Name |
| Title | PRESIDENT | Title |
| Phone | 9176085702 | Phone |
| Date Signed | 2012-05-29 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | PAUL MILLER CPA | Name |
| Phone | 7187670737 | Phone |
| Date Prepared | 2012-05-29 | 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) |
|---|---|---|
| Address Change | X | AddressChange |
| Exempt PF | X | ExemptPF |
| FMV Assets EOY | 94633 | 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 | 6 | InterestOnSavingsRevAndExpnss |
| Interest On Savings Net Invst Incm | 6 | InterestOnSavingsNetInvstIncm |
| Dividends Rev And Expnss | 1 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 1 | DividendsNetInvstIncm |
| Other Income Rev And Expnss | -24701 | OtherIncomeRevAndExpnss |
| Total Revenue And Expenses | -24694 | TotalRevenueAndExpenses |
| Total Net Investment Income | 7 | TotalNetInvestmentIncome |
| Comp Ofcr Dir Trst Rev And Expnss | 270000 | CompOfcrDirTrstRevAndExpnss |
| Accounting Fees Rev And Expnss | 2849 | AccountingFeesRevAndExpnss |
| Other Prof Fees Rev And Expnss | 6775 | OtherProfFeesRevAndExpnss |
| Taxes Rev And Expnss | 100 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 5 | OtherExpensesRevAndExpnss |
| Tot Opr Expenses Rev And Expnss | 279729 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 0 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 0 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 31066 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 31066 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 310795 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 0 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 31066 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | -335489 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 7 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 14697 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 12593 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 12593 | SavingsAndTempCashInvstEOYFMV |
| Receivables From Officers BOY | 380000 | ReceivablesFromOfficersBOY |
| Receivables From Officers EOY | 75000 | ReceivablesFromOfficersEOY |
| Receivables From Officers EOYFMV | 75000 | ReceivablesFromOfficersEOYFMV |
| Investments Other BOY | 116732 | InvestmentsOtherBOY |
| Investments Other EOY | 88326 | InvestmentsOtherEOY |
| Investments Other EOYFMV | 7040 | InvestmentsOtherEOYFMV |
| Total Assets BOY | 511429 | TotalAssetsBOY |
| Total Assets EOY | 175919 | TotalAssetsEOY |
| Total Assets EOYFMV | 94633 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 511429 | RetainedEarningsBOY |
| Retained Earnings EOY | 175919 | RetainedEarningsEOY |
| Total Net Assets BOY | 511429 | TotalNetAssetsBOY |
| Total Net Assets EOY | 175919 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 511429 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 175919 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 511429 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | -335489 | ExcessOfRevenueOverExpenses |
| Subtotal | 175940 | Subtotal |
| Other Decreases | 21 | OtherDecreases |
| Total Net Assets Fund Balances EOY | 175919 | TotalNetAssetsFundBalancesEOY |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 28639 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 544833 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 0.052565 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 30211 | QualifyingDistributionsYear2 |
| Noncharitable Assets Year2 | 729884 | NoncharitableAssetsYear2 |
| Distribution Ratio Year2 | 0.041392 | DistributionRatioYear2 |
| Qualifying Distributions Year3 | 57407 | QualifyingDistributionsYear3 |
| Noncharitable Assets Year3 | 311939 | NoncharitableAssetsYear3 |
| Distribution Ratio Year3 | 0.184033 | DistributionRatioYear3 |
| Qualifying Distributions Year4 | 78352 | QualifyingDistributionsYear4 |
| Noncharitable Assets Year4 | 541884 | NoncharitableAssetsYear4 |
| Distribution Ratio Year4 | 0.144592 | DistributionRatioYear4 |
| Qualifying Distributions Year5 | 129938 | QualifyingDistributionsYear5 |
| Noncharitable Assets Year5 | 403055 | NoncharitableAssetsYear5 |
| Distribution Ratio Year5 | 0.322383 | DistributionRatioYear5 |
| Total Distribution Ratio | 0.744965 | TotalDistributionRatio |
| Average Distribution Ratio | 0.148993 | AverageDistributionRatio |
| Net Noncharitable Assets | 94625 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 14098 | AdjustedNoncharitableAssets |
| Adj Nonchrtbl Assets And One | 14098 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 31066 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 0 | InvestmentIncomeExciseTax |
| Amount Credited To Next Year | 0 | AmountCreditedToNextYear |
Statements Regarding Activities StatementsRegardingActivities
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | NY | StatesFiledWith |
| 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 Person Name | JEFFREY SITT | BooksInCareOfPersonName |
| Books In Care Of Phone Number | 9176085702 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 JAY STREET | AddressLine1 |
| Address Line2 | SUITE 902 | AddressLine2 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11201 | 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 | true | BorrowOrLendWithDsqflyPerson |
| Furnished Goods With Dsqfly Person | false | FurnishedGoodsWithDsqflyPerson |
| Pay Compensation To Dsqfly Person | true | PayCompensationToDsqflyPerson |
| Transfer Assets To Dsqfly Person | false | TransferAssetsToDsqflyPerson |
| Payment To Government Offical | false | PaymentToGovernmentOffical |
| Acts Fail To Qualify As Exceptions | false | ActsFailToQualifyAsExceptions |
| 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 |
| Rcv Funds To Pay Prsnl Bnft Contract | false | RcvFundsToPayPrsnlBnftContract |
| Pay Premiums Prsnl Bnft Contract | false | PayPremiumsPrsnlBnftContract |
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 | Contri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtc | Expense Account Other AllowancesExpenseAccountOtherAllowances |
|---|---|---|---|---|---|---|---|---|
| JEFFREY SITT | ||||||||
| 1127 E 7TH ST | BROOKLYN | NY | 11230 | PRESIDENT | 10.00 | 270000 | 0 | 0 |
| CEILEE SITT | ||||||||
| 1127 E 7TH ST | BROOKLYN | NY | 11230 | VICE-PRES. | 10.00 | 0 | 0 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
| Comp Of Hghst Paid Cntrct NONE | NONE | CompOfHghstPaidCntrctNONE |
Sum Of Program Related Investments SumOfProgramRelatedInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1 |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 9422 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 11644 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 75000 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 96066 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 96066 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 1441 | CashDeemedCharitable |
| Net Noncharitable Assets | 94625 | NetNoncharitableAssets |
| Minimum Investment Return | 4731 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 4731 | MinimumInvestmentReturn |
| Distributable Amount Before Adj | 4731 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 4731 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 4731 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 31066 | ExpensesAndContributions |
| Qualifying Distributions | 31066 | QualifyingDistributions |
| Adj Qualifying Distributions | 31066 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 4731 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year5 | 82471 | ExcessDistriCarryoverYear5 |
| Excess Distri Carryover Year4 | 51822 | ExcessDistriCarryoverYear4 |
| Excess Distri Carryover Year3 | 42270 | ExcessDistriCarryoverYear3 |
| Excess Distri Carryover Year1 | 1418 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 177981 | TotalExcessDistriCarryover |
| Qualifying Distributions | 31066 | QualifyingDistributions |
| Applied To Current Year | 4731 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 26335 | RemainingDistriFromCorpus |
| Total Corpus | 204316 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov From Year5 | 82471 | ExcessDistriCyovFromYear5 |
| Excess Distri Cyov To Next Year | 121845 | ExcessDistriCyovToNextYear |
| Excess From Year4 | 51822 | ExcessFromYear4 |
| Excess From Year3 | 42270 | ExcessFromYear3 |
| Excess From Year1 | 1418 | ExcessFromYear1 |
| Excess From Current Year | 26335 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person Name | SEE ATTACHED SCHEDULE | RecipientPersonName |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 JAY STREET | AddressLine1 |
| Address Line2 | 902 | AddressLine2 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11201 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Purpose Of Grant Or Contribution | GENERAL FUND | PurposeOfGrantOrContribution |
| Amount | $31,066 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 31066 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Income | 6 | RelatedOrExemptFunctionIncome |
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Income | 1 | RelatedOrExemptFunctionIncome |
Other Revenue Described OtherRevenueDescribed
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | 351 BOWERY PARTNERS | Description |
| Related Or Exempt Function Income | -24701 | RelatedOrExemptFunctionIncome |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Income | -24694 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | -24694 | 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 | INDIRECT ACCOUNTING FEES | Category |
| Amount | $2,849 | Amount |
Compensation Explanation CompensationExplanation
Compensation Compensation (2 entries)
| JEFFREY SITT |
| CEILEE SITT |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOther (2 entries)
| Category Or ItemCategoryOrItem | Book ValueBookValue | Listed At Cost Or FMVListedAtCostOrFMV | EOYFMVEOYFMV |
|---|---|---|---|
| 351 BOWERY PARTNERS, LLC | 40029 | ||
| MARKETABLE SECURITIES | 48297 | AT COST | 7040 |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases OtherDecreases
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | FEDERAL TAX | Description |
| Amount | $21 | Amount |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks |
|---|---|
| EXPENSES | |
| BANK CHARGES | 5 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income OtherIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | 351 BOWERY PARTNERS | Description |
| Revenue And Expenses Per Books | -24701 | RevenueAndExpensesPerBooks |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees OtherProfessionalFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | MANAGEMENT FEES | Category |
| Amount | $6,775 | Amount |
Other Receivables Officers Sch OtherReceivablesOfficersSch
Other Receivables Officer OtherReceivablesOfficer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Borrowers Name | VINEGAR HILL HOLDING COMPANY LLC | BorrowersName |
| Borrowers Title | MANAGING MEMBER | BorrowersTitle |
| Original Amount Of Loan | 50000 | OriginalAmountOfLoan |
| Balance Due | 75000 | BalanceDue |
| Date Of Note | 2009-09 | DateOfNote |
| Repayment Terms | WILL PAYDOWN IN 2011 | RepaymentTerms |
| Interest Rate | 0.0400 | InterestRate |
| Purpose Of Loan | SHORT TERM LOAN | PurposeOfLoan |
| Consideration Fmv | 75000 | ConsiderationFmv |
Taxes Schedule TaxesSchedule
Taxes Taxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | NYS FILING FEE | Category |
| Amount | $100 | Amount |
Comments