VALICENTI FAMILY FOUNDATION INC: Form 990PF, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
VALICENTI FAMILY FOUNDATION INC (EIN 75-3215258)
Tax period
2010-01-01 to 2010-12-31
Filed
2011-05-03
IRS object ID
201101239349100510
Schema version
2010v3.2
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 ReturnHeader

FieldValueIRS element (for citing)
Timestamp2011-05-03T06:34:54-07:00Timestamp
Tax Period End Date2010-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1VALICENTI ADVISORY SERVICES INCBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1350 WEST CHURCH STREETAddressLine1
CityELMIRACity
StateNYState
ZIP Code149012637ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnType
Tax Period Begin Date2010-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN753215258EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1Valicenti Family Foundation IncBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlVALINameControl
Phone6077342665Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1400 East Water StreetAddressLine1
CityElmiraCity
StateNYState
ZIP Code14901ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameJoseph M ValicentiName
TitleSecretaryTitle
Date Signed2011-05-03DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
NamePaul E Hornbuckle CPAName
Phone6077339022Phone
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Exempt PFXExemptPF
FMV Assets EOY92277FMVAssetsEOY
Method Of Accounting CashXMethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Not Required To Attach Schedule BXNotRequiredToAttachScheduleB
Interest On Savings Rev And Expnss4641InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm4641InterestOnSavingsNetInvstIncm
Interest On Savings Adj Net Incm4641InterestOnSavingsAdjNetIncm
Dividends Rev And Expnss696DividendsRevAndExpnss
Dividends Net Invst Incm696DividendsNetInvstIncm
Dividends Adj Net Incm696DividendsAdjNetIncm
Net Gain Sale Assets Rev And Expnss1238NetGainSaleAssetsRevAndExpnss
Gross Sales Price36310GrossSalesPrice
Capital Gain Net Incm Net Invst Incm1238CapitalGainNetIncmNetInvstIncm
Net STCG Adj Net Incm1446NetSTCGAdjNetIncm
Total Revenue And Expenses6575TotalRevenueAndExpenses
Total Net Investment Income6575TotalNetInvestmentIncome
Total Adjusted Net Income6783TotalAdjustedNetIncome
Accounting Fees Rev And Expnss300AccountingFeesRevAndExpnss
Accounting Fees Net Invst Incm300AccountingFeesNetInvstIncm
Other Prof Fees Rev And Expnss425OtherProfFeesRevAndExpnss
Other Prof Fees Net Invst Incm425OtherProfFeesNetInvstIncm
Taxes Rev And Expnss99TaxesRevAndExpnss
Taxes Net Invst Incm99TaxesNetInvstIncm
Deprec And Depletion Rev And Expnss0DeprecAndDepletionRevAndExpnss
Other Expenses Rev And Expnss50OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm50OtherExpensesNetInvstIncm
Tot Opr Expenses Rev And Expnss874TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm874TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps0TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss0ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps0ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss874TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm874TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps0TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses5701ExcessOfRevenueOverExpenses
Net Investment Income5701NetInvestmentIncome
Adjusted Net Income6783AdjustedNetIncome

Balance Sheets BalanceSheets

FieldValueIRS element (for citing)
Investments Corp Stock BOY13067InvestmentsCorpStockBOY
Investments Corp Stock EOY33144InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV38769InvestmentsCorpStockEOYFMV
Investments Corp Bonds BOY59310InvestmentsCorpBondsBOY
Investments Corp Bonds EOY39740InvestmentsCorpBondsEOY
Investments Corp Bonds EOYFMV42006InvestmentsCorpBondsEOYFMV
Investments Other BOY7872InvestmentsOtherBOY
Investments Other EOY13067InvestmentsOtherEOY
Investments Other EOYFMV11502InvestmentsOtherEOYFMV
Total Assets BOY80249TotalAssetsBOY
Total Assets EOY85951TotalAssetsEOY
Total Assets EOYFMV92277TotalAssetsEOYFMV
Other Liabilities EOY1OtherLiabilitiesEOY
Total Liabilities EOY1TotalLiabilitiesEOY
Org That Follow SFAS117XOrgThatFollowSFAS117
Unrestricted BOY80249UnrestrictedBOY
Unrestricted EOY85950UnrestrictedEOY
Total Net Assets BOY80249TotalNetAssetsBOY
Total Net Assets EOY85950TotalNetAssetsEOY
Total Liabilities Net Assets BOY80249TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY85951TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

FieldValueIRS element (for citing)
Total Net Assets Fund Balances BOY80249TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses5701ExcessOfRevenueOverExpenses
Subtotal85950Subtotal
Total Net Assets Fund Balances EOY85950TotalNetAssetsFundBalancesEOY

Capital Gains And Losses CapitalGainsAndLosses

FieldValueIRS element (for citing)
Capital Gain Net Income1238CapitalGainNetIncome
Net Short Term Capital Gain Or Loss1446NetShortTermCapitalGainOrLoss

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

FieldValueIRS element (for citing)
Investment Income Excise Tax114InvestmentIncomeExciseTax
Subtotal114Subtotal
Tax Based On Investment Income114TaxBasedOnInvestmentIncome
Tax Due114TaxDue
Amount Credited To Next Year0AmountCreditedToNextYear

Statements Regarding Activities StatementsRegardingActivities

FieldValueIRS element (for citing)
Legislative Political ActivitiesfalseLegislativePoliticalActivities
More Than100 SpentfalseMoreThan100Spent
Form1120 POL FiledfalseForm1120POLFiled
Activities Not Prev ReportedfalseActivitiesNotPrevReported
Changes To Articles Or BylawsfalseChangesToArticlesOrBylaws
Unrelated Bus Income Over1000falseUnrelatedBusIncomeOver1000
Form990 T FiledfalseForm990TFiled
Termination EtcfalseTerminationEtc
Requirements Of Sect508etrueRequirementsOfSect508e
At Least5000 In AssetstrueAtLeast5000InAssets
States Filed WithNYStatesFiledWith
Form990 PF Filed With AGtrueForm990PFFiledWithAG
Private Operating FoundationfalsePrivateOperatingFoundation
New Substantial ContributorsfalseNewSubstantialContributors
Interest In Controlled EntityfalseInterestInControlledEntity
Applicable Insurance ContractfalseApplicableInsuranceContract
Comply With Public Inspection RqrtrueComplyWithPublicInspectionRqr
Website AddressN/AWebsiteAddress

Books In Care Of Business Name BooksInCareOfBusinessName

FieldValueIRS element (for citing)
Business Name Line1Joseph M ValicentiBusinessNameLine1
FieldValueIRS element (for citing)
Books In Care Of Phone Number6077342665BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

FieldValueIRS element (for citing)
Address Line1400 East Water StreetAddressLine1
CityElmiraCity
StateNYState
ZIP Code14901ZIPCode
FieldValueIRS element (for citing)
Foreign BankfalseForeignBank

Statements Regarding Acty4720 StatementsRegardingActy4720

FieldValueIRS element (for citing)
Sale Or Exchange With Dsqfly PersonfalseSaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly PersonfalseBorrowOrLendWithDsqflyPerson
Furnished Goods With Dsqfly PersonfalseFurnishedGoodsWithDsqflyPerson
Pay Compensation To Dsqfly PersonfalsePayCompensationToDsqflyPerson
Transfer Assets To Dsqfly PersonfalseTransferAssetsToDsqflyPerson
Payment To Government OfficalfalsePaymentToGovernmentOffical
Acts Fail To Qualify As ExceptionsfalseActsFailToQualifyAsExceptions
Uncorrected Prior ActsfalseUncorrectedPriorActs
Undistributed Income Prior YearsfalseUndistributedIncomePriorYears
Undistr Income4942a2 Not AppliedfalseUndistrIncome4942a2NotApplied
Business HoldingsfalseBusinessHoldings
Excess Business HoldingsfalseExcessBusinessHoldings
Jeopardy InvestmentsfalseJeopardyInvestments
Uncorrected Jeopardy InvestmentsfalseUncorrectedJeopardyInvestments
Influence LegislationfalseInfluenceLegislation
Influence ElectionfalseInfluenceElection
Grants To IndividualsfalseGrantsToIndividuals
Grants To OrganizationsfalseGrantsToOrganizations
Noncharitable PurposefalseNoncharitablePurpose
Tr Fail To Qualify As ExceptionsfalseTrFailToQualifyAsExceptions
Maint Expend ResponsibilityfalseMaintExpendResponsibility
Rcv Funds To Pay Prsnl Bnft ContractfalseRcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft ContractfalsePayPremiumsPrsnlBnftContract
Prohibited Tax Shelter TransactnfalseProhibitedTaxShelterTransactn
Proceeds Or Net IncomefalseProceedsOrNetIncome

Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo

Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (3 entries)

Address Line1USAddress/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleAvg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPositionCompensationCompensation
Josephine M Valicenti
840 South Collier Blvd 806Marco IslandFL34145Vice President0.000
Vincent R Valicenti
840 South Collier Blvd 806Marco IslandFL34145Pres/Treas0.000
Joseph M Valicenti
109 Esthers WayHorseheadsNY14845Secretary0.000
FieldValueIRS element (for citing)
Comp Of Highest Paid Empl NONENONECompOfHighestPaidEmplNONE
Comp Of Hghst Paid Cntrct NONENONECompOfHghstPaidCntrctNONE

Minimum Investment Return MinimumInvestmentReturn

FieldValueIRS element (for citing)
Avg Monthly FMV Of Securities76617AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances8836AvgMonthlyCashBalances
FMV All Other Noncharitable Assets0FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets85453TotalFMVOfUnusedAssets
Reduction Claimed0ReductionClaimed
Adj Total FMV Of Unused Assets85453AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable1282CashDeemedCharitable
Net Noncharitable Assets84171NetNoncharitableAssets
Minimum Investment Return4209MinimumInvestmentReturn

Distributable DistributableAmount

FieldValueIRS element (for citing)
Minimum Investment Return4209MinimumInvestmentReturn
Tax Based On Investment Income114TaxBasedOnInvestmentIncome
Total Tax114TotalTax
Distributable Amount Before Adj4095DistributableAmountBeforeAdj
Distributable Amount Before Ded4095DistributableAmountBeforeDed
Distributable Amount As Adjusted4095DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

FieldValueIRS element (for citing)
Expenses And Contributions0ExpensesAndContributions

Undistributed Income UndistributedIncome

FieldValueIRS element (for citing)
Distributable Amount As Adjusted4095DistributableAmountAsAdjusted
Excess Distri Carryover Year48176ExcessDistriCarryoverYear4
Excess Distri Carryover Year310820ExcessDistriCarryoverYear3
Excess Distri Carryover Year26594ExcessDistriCarryoverYear2
Total Excess Distri Carryover25590TotalExcessDistriCarryover
Treated As Distri From Corpus0TreatedAsDistriFromCorpus
Excess Distri Cyov App CY Corpus4095ExcessDistriCyovAppCYCorpus
Excess Distri Cyov Applied CY4095ExcessDistriCyovAppliedCY
Total Corpus21495TotalCorpus
Undistributed Income CY0UndistributedIncomeCY
Excess Distri Cyov To Next Year21495ExcessDistriCyovToNextYear
Excess From Year44081ExcessFromYear4
Excess From Year310820ExcessFromYear3
Excess From Year26594ExcessFromYear2

Supplementary Information SupplementaryInformation

FieldValueIRS element (for citing)
Only Contributes To PreselectedXOnlyContributesToPreselected

Appication Submission Info AppicationSubmissionInfo

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1400 East Water StreetAddressLine1
CityElmiraCity
StateNYState
ZIP Code14901ZIPCode
FieldValueIRS element (for citing)
Recipient Phone Number6077342665RecipientPhoneNumber
Form And Info And MaterialsWritten request outlining purpose of funds, date of funding needs, and background of organization. Additionally, amount of funds requested and total amounts of funds budgeted by the requesting organization.FormAndInfoAndMaterials
Submission DeadlinesOngoingSubmissionDeadlines
Restrictions On AwardsRequests must be submitted by or for the intended receipt by an exempt organization organizaed under Sec. 501(c)(3).RestrictionsOnAwards

Analysis Income Producing Acty AnalysisIncomeProducingActy

Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst

FieldValueIRS element (for citing)
Related Or Exempt Function Income4641RelatedOrExemptFunctionIncome

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

FieldValueIRS element (for citing)
Related Or Exempt Function Income696RelatedOrExemptFunctionIncome

Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry

FieldValueIRS element (for citing)
Related Or Exempt Function Income1238RelatedOrExemptFunctionIncome

Subtotals Part XVIA SubtotalsPartXVIA

FieldValueIRS element (for citing)
Related Or Exempt Function Income6575RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Part XVIA6575TotalPartXVIA

Rln Of Acty To Accom Of Exempt Prps RlnOfActyToAccomOfExemptPrps

Rln Of Acty To Accom Of Exempt Prps RlnOfActyToAccomOfExemptPrps

FieldValueIRS element (for citing)
Line Number3 4 8LineNumber
Relationship StatementInvestment earnings were distributed as grants to qualified charitable organizations for their use for exempt purposes.RelationshipStatement

Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO

FieldValueIRS element (for citing)
Trnsfr Of Cash To Noncharitable EOfalseTrnsfrOfCashToNoncharitableEO
Trnsfr Oth Assets Noncharitable EOfalseTrnsfrOthAssetsNoncharitableEO
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssets
Purchase Assets Noncharitable EOfalsePurchaseAssetsNoncharitableEO
Rental Of Facilities EtcfalseRentalOfFacilitiesEtc
Reimbursement ArrangementsfalseReimbursementArrangements
Loans Or Loan GuaranteesfalseLoansOrLoanGuarantees
Performance Of Services EtcfalsePerformanceOfServicesEtc
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtc
Relationships Noncharitable E OsfalseRelationshipsNoncharitableEOs

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees AccountingFees

FieldValueIRS element (for citing)
CategoryAccounting feesCategory
Amount$300Amount
Net Investment Income300NetInvestmentIncome
Adjusted Net Income0AdjustedNetIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corp Bonds InvestmentsCorpBonds (8 entries)

Name Of BondNameOfBondEOY Book ValueEOYBookValueEOYFMVEOYFMV
Overseas Shiphldg Gr 8.125%52795013
General Motors ACC Smart Notes 8%
Nextel Comm 7.375%42295013
Accrued Interest1280
Woolworth Corp 8.5% Bonds1496414850
Borden Chem 8.375% bonds45684600
RJ Reynolds 9.25% bonds1070011250
GM 8% bonds

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock (13 entries)

Name Of StockNameOfStockEOY Book ValueEOYBookValueEOYFMVEOYFMV
200 Ishares Tr Comex Gold24612780
100 shs Microsoft Corp24732791
300 shs Micron Tech26722406
75 shs Mcdermott Intl Inc8501552
10 shs Intuitive Surgical26872578
200 shs Cisco Systems Inc41254046
10 shs Apple Inc31343225
100 shs Intel Corp19812103
75 shs General Electric4961372
100 shs EMC Corp17682290
100 shs ALtria Group18062462
400 shs Elmira Savings Bank49477300
200 shs Corning Inc37443864

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOther (2 entries)

Category Or ItemCategoryOrItemListed At Cost Or FMVListedAtCostOrFMVBook ValueBookValueEOYFMVEOYFMV
100 shs Proshares Ultrashort LehmanAT COST52693704
Money Market FundsAT COST77987798

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses

FieldValueIRS element (for citing)
DescriptionNYS Filing FeesDescription
Revenue And Expenses Per Books50RevenueAndExpensesPerBooks
Net Investment Income50NetInvestmentIncome

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
DescriptionRoundingDescription
EOY Book Value1EOYBookValue

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees OtherProfessionalFees

FieldValueIRS element (for citing)
CategoryInvestment Mgt FeesCategory
Amount$425Amount
Net Investment Income425NetInvestmentIncome
Adjusted Net Income0AdjustedNetIncome
Disbursements Charitable Prps0DisbursementsCharitablePrps

Taxes Schedule TaxesSchedule

Taxes Taxes

FieldValueIRS element (for citing)
Category990-PF f/y/e 12/31/09Category
Amount$99Amount
Net Investment Income99NetInvestmentIncome

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