MATTHEW D AND KATHERINE H LEE FOUNDATION: Form 990PF, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- MATTHEW D AND KATHERINE H LEE FOUNDATION (EIN 26-2934869)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-10-19
- IRS object ID
- 201242949349100209
- 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
- Liquidation Explanation Stmt
- Other Expenses Schedule
- Other Professional Fees Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-10-19T13:49:01-00:00 | 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 | 262934869 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Matthew D and Katherine H Lee Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MATT | 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 | Matthew D Lee | Name |
| Title | President | Title |
| Date Signed | 2012-10-19 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Jeffrey D Haskell | Name |
| Phone | 8008391754 | Phone |
| Date Prepared | 2012-10-19 | 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 | 92396 | 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 | 211 | InterestOnSavingsRevAndExpnss |
| Interest On Savings Net Invst Incm | 211 | InterestOnSavingsNetInvstIncm |
| Capital Gain Net Incm Net Invst Incm | 0 | CapitalGainNetIncmNetInvstIncm |
| Total Revenue And Expenses | 211 | TotalRevenueAndExpenses |
| Total Net Investment Income | 211 | TotalNetInvestmentIncome |
| Other Prof Fees Rev And Expnss | 899 | OtherProfFeesRevAndExpnss |
| Other Prof Fees Net Invst Incm | 899 | OtherProfFeesNetInvstIncm |
| Other Expenses Rev And Expnss | 4058 | OtherExpensesRevAndExpnss |
| Other Expenses Dsbrs Chrtbl Prps | 4058 | OtherExpensesDsbrsChrtblPrps |
| Tot Opr Expenses Rev And Expnss | 4957 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 899 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 4058 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 129000 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 129000 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 133957 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 899 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 133058 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | -133746 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 0 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 226142 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 92396 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 92396 | SavingsAndTempCashInvstEOYFMV |
| Total Assets BOY | 226142 | TotalAssetsBOY |
| Total Assets EOY | 92396 | TotalAssetsEOY |
| Total Assets EOYFMV | 92396 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 226142 | RetainedEarningsBOY |
| Retained Earnings EOY | 92396 | RetainedEarningsEOY |
| Total Net Assets BOY | 226142 | TotalNetAssetsBOY |
| Total Net Assets EOY | 92396 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 226142 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 92396 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 226142 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | -133746 | ExcessOfRevenueOverExpenses |
| Subtotal | 92396 | Subtotal |
| Total Net Assets Fund Balances EOY | 92396 | TotalNetAssetsFundBalancesEOY |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 4731 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 36092 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 000.131082 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 1024867 | QualifyingDistributionsYear2 |
| Noncharitable Assets Year2 | 196487 | NoncharitableAssetsYear2 |
| Distribution Ratio Year2 | 005.215953 | DistributionRatioYear2 |
| Noncharitable Assets Year3 | 41044 | NoncharitableAssetsYear3 |
| Total Distribution Ratio | 005.347035 | TotalDistributionRatio |
| Average Distribution Ratio | 001.782345 | AverageDistributionRatio |
| Net Noncharitable Assets | 123087 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 219383 | AdjustedNoncharitableAssets |
| Adj Nonchrtbl Assets And One | 219383 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 133058 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | 0 | InvestmentIncomeExciseTax |
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 | true | 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 | co 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 | Matthew D Lee | 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 | 0 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 124961 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 124961 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 124961 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 1874 | CashDeemedCharitable |
| Net Noncharitable Assets | 123087 | NetNoncharitableAssets |
| Minimum Investment Return | 6154 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 6154 | MinimumInvestmentReturn |
| Distributable Amount Before Adj | 6154 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 6154 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 6154 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 133058 | ExpensesAndContributions |
| Qualifying Distributions | 133058 | QualifyingDistributions |
| Adj Qualifying Distributions | 133058 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 6154 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year2 | 1014052 | ExcessDistriCarryoverYear2 |
| Excess Distri Carryover Year1 | 2926 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 1016978 | TotalExcessDistriCarryover |
| Qualifying Distributions | 133058 | QualifyingDistributions |
| Applied To Current Year | 6154 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 126904 | RemainingDistriFromCorpus |
| Total Corpus | 1143882 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov To Next Year | 1143882 | ExcessDistriCyovToNextYear |
| Excess From Year2 | 1014052 | ExcessFromYear2 |
| Excess From Year1 | 2926 | ExcessFromYear1 |
| Excess From Current Year | 126904 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Matthew D Lee | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (4 entries)
| Address Line1RecipientUSAddress/AddressLine1 | CityRecipientUSAddress/City | StateRecipientUSAddress/State | ZIP CodeRecipientUSAddress/ZIPCode | Recipient RelationshipRecipientRelationship | Recipient Foundation StatusRecipientFoundationStatus | Purpose Of Grant Or ContributionPurposeOfGrantOrContribution | AmountAmount |
|---|---|---|---|---|---|---|---|
| EUGENE BELL FOUNDATION | |||||||
| 6520 BURGUNDY LN | CLARKSVILLE | MD | 21029 | N/A | 509(a)(1) | General Unrestricted | $5,000 |
| KOREAN AMERICAN CULTURAL ART FNDTN | |||||||
| 7620 LITTLE RIVER TPKE STE 21 | ANNANDALE | VA | 22003 | N/A | 509(a)(1) | General Unrestricted | $14,000 |
| MARYKNOLL FATHERS AND BROTHERS | |||||||
| PO BOX 302 | MARYKNOLL | NY | 10545 | N/A | 509(a)(1) | General Unrestricted | $100,000 |
| THE DEFENSE FORUM FOUNDATION INC | |||||||
| 3014 CASTLE RD | FALLS CHURCH | VA | 22044 | N/A | 509(a)(1) | General Unrestricted | $10,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 129000 | 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 | $211 | ExclusionAmount |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $211 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 211 | 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
Liquidation Explanation Stmt LiquidationExplanationStmt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Statement | This statement is submitted to report the distribution of certain assets during the above-referenced year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3a1 and the Form 990-PF instructions During the taxable year ending December 31, 2011, Matthew D. and Katherine H. Lee Foundation the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled 129,000. This amount represents over 25 of the Foundations net assets of 226,142 as measured by fair market value at the beginning of the Foundations taxable year ending December 31, 2011. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XV, Line 3a each such grant was made solely for the charitable purpose specified therein. | Statement |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks | Disbursements Charitable PrpsDisbursementsCharitablePrps |
|---|---|---|
| Administrative Fees | 4033 | 4033 |
| 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 | $899 | Amount |
| Net Investment Income | 899 | NetInvestmentIncome |
Comments