BITAR FOUNDATION: Form 990PF, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: BITAR FOUNDATION (EIN 26-3263340)
Tax period: 2010-01-01 to 2010-12-31
Filed: 2011-06-16
IRS object ID: 201111679349100401
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
Form 990-PF
Accounting Fees Schedule
All Oth Prog Rltd Investments Sch
Depreciation Schedule
Investments Corp Stock Schedule
Land Etc Schedule2
Other Expenses Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-06-16T10:36:48-05:00	Timestamp
Tax Period End Date	2010-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Fesnak and Associates LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	1777 Sentry Pk W Gwynedd Ste 400	AddressLine1
City	Blue Bell	City
State	PA	State
ZIP Code	19422	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnType
Tax Period Begin Date	2010-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	263263340	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	Bitar Foundation Inc	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	BITA	NameControl
Phone	2125354041	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	901 Lexington Ave Apt 6N	AddressLine1
City	New York	City
State	NY	State
ZIP Code	10065	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	George A Bitar	Name
Title	Trustee	Title
Date Signed	2011-05-11	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Kevin S Hill	Name
Phone	2674192200	Phone

Field	Value	IRS element (for citing)
Tax Year	2010	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	60543	FMVAssetsEOY
Method Of Accounting Cash	X	MethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Received Rev And Expnss	1050	ContriReceivedRevAndExpnss
Interest On Savings Rev And Expnss	27	InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm	27	InterestOnSavingsNetInvstIncm
Net Gain Sale Assets Rev And Expnss	18186	NetGainSaleAssetsRevAndExpnss
Gross Sales Price	29345	GrossSalesPrice
Capital Gain Net Incm Net Invst Incm	18186	CapitalGainNetIncmNetInvstIncm
Total Revenue And Expenses	19263	TotalRevenueAndExpenses
Total Net Investment Income	18213	TotalNetInvestmentIncome
Comp Ofcr Dir Trst Rev And Expnss	0	CompOfcrDirTrstRevAndExpnss
Accounting Fees Rev And Expnss	1050	AccountingFeesRevAndExpnss
Accounting Fees Net Invst Incm	0	AccountingFeesNetInvstIncm
Accounting Fees Adj Net Incm	0	AccountingFeesAdjNetIncm
Accounting Fees Dsbrs Chrtbl Prps	525	AccountingFeesDsbrsChrtblPrps
Other Expenses Rev And Expnss	150	OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm	150	OtherExpensesNetInvstIncm
Tot Opr Expenses Rev And Expnss	1200	TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm	150	TotOprExpensesNetInvstIncm
Tot Opr Expenses Adj Net Incm	0	TotOprExpensesAdjNetIncm
Tot Opr Expenses Dsbrs Chrtbl Prps	525	TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss	9000	ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps	9000	ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss	10200	TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm	150	TotalExpensesNetInvstIncm
Total Expenses Adj Net Incm	0	TotalExpensesAdjNetIncm
Total Expenses Dsbrs Chrtbl Prps	9525	TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses	9063	ExcessOfRevenueOverExpenses
Net Investment Income	18063	NetInvestmentIncome

Balance Sheets BalanceSheets

Field	Value	IRS element (for citing)
Savings And Temp Cash Invst BOY	0	SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY	20223	SavingsAndTempCashInvstEOY
Savings And Temp Cash Invst EOYFMV	20223	SavingsAndTempCashInvstEOYFMV
Investments Corp Stock BOY	22319	InvestmentsCorpStockBOY
Investments Corp Stock EOY	11159	InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV	40320	InvestmentsCorpStockEOYFMV
Total Assets BOY	22319	TotalAssetsBOY
Total Assets EOY	31382	TotalAssetsEOY
Total Assets EOYFMV	60543	TotalAssetsEOYFMV
Accounts Payable BOY	0	AccountsPayableBOY
Accounts Payable EOY	0	AccountsPayableEOY
Grants Payable BOY	0	GrantsPayableBOY
Grants Payable EOY	0	GrantsPayableEOY
Total Liabilities BOY	0	TotalLiabilitiesBOY
Total Liabilities EOY	0	TotalLiabilitiesEOY
Org That Do Not Follow SFAS117	X	OrgThatDoNotFollowSFAS117
Capital Stock BOY	22319	CapitalStockBOY
Capital Stock EOY	31382	CapitalStockEOY
Retained Earnings BOY	0	RetainedEarningsBOY
Retained Earnings EOY	0	RetainedEarningsEOY
Total Net Assets BOY	22319	TotalNetAssetsBOY
Total Net Assets EOY	31382	TotalNetAssetsEOY
Total Liabilities Net Assets BOY	22319	TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY	31382	TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

Field	Value	IRS element (for citing)
Total Net Assets Fund Balances BOY	22319	TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses	9063	ExcessOfRevenueOverExpenses
Subtotal	31382	Subtotal
Total Net Assets Fund Balances EOY	31382	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
How Acquired	D	HowAcquired
Date Acquired	2007-02-22	DateAcquired
Date Sold	2010-04-05	DateSold
Gross Sales Price	29345	GrossSalesPrice
Cost Or Other Basis	11159	CostOrOtherBasis
Gain Or Loss	18186	GainOrLoss
Gains Minus Excess Or Losses	18186	GainsMinusExcessOrLosses

Field	Value	IRS element (for citing)
Capital Gain Net Income	18186	CapitalGainNetIncome

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

Field	Value	IRS element (for citing)
Liable For4942 Tax	false	LiableFor4942Tax
Qualifying Distributions Year1	0	QualifyingDistributionsYear1
Noncharitable Assets Year1	0	NoncharitableAssetsYear1
Distribution Ratio Year1	0.0	DistributionRatioYear1
Total Distribution Ratio	0.0	TotalDistributionRatio
Average Distribution Ratio	0.0	AverageDistributionRatio
Net Noncharitable Assets	53845	NetNoncharitableAssets
Adjusted Noncharitable Assets	0	AdjustedNoncharitableAssets
One Percent Net Investment Income	181	OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One	181	AdjNonchrtblAssetsAndOnePct
Qualifying Distributions	9525	QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

Field	Value	IRS element (for citing)
Domestic Org Meeting Sect4940e	X	DomesticOrgMeetingSect4940e
Investment Income Excise Tax	181	InvestmentIncomeExciseTax
Subtotal	181	Subtotal
Tax Based On Investment Income	181	TaxBasedOnInvestmentIncome
Total Credits And Payments	0	TotalCreditsAndPayments
Tax Due	181	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
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

Books In Care Of Business Name BooksInCareOfBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	GEORGE A BITAR	BusinessNameLine1

Field	Value	IRS element (for citing)
Books In Care Of Phone Number	2125354041	BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

Field	Value	IRS element (for citing)
Address Line1	901 LEXINGTON AVE APT 6N	AddressLine1
City	NEW YORK	City
State	NY	State
ZIP Code	10065	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
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
GEORGE A BITAR
901 LEXINGTON AVE APT 6N	NEW YORK	NY	10065	TRUSTEE	0	0	0	0
CLAUDIA FLEMING
901 LEXINGTON AVE APT 6N	NEW YORK	NY	10065	TRUSTEE	0	0	0	0
SALIM HADDAD
813 WEST 11 STREET SUITE C	AUSTIN	TX	78701	TRUSTEE	0	0	0	0

Summary Of Direct Charitable Acty SummaryOfDirectCharitableActy

Field	Value	IRS element (for citing)
Description1	N/A	Description1
Expenses1	0	Expenses1

Sum Of Program Related Investments SumOfProgramRelatedInvestments

Field	Value	IRS element (for citing)
Description1	NONE	Description1

Minimum Investment Return MinimumInvestmentReturn

Field	Value	IRS element (for citing)
Avg Monthly FMV Of Securities	39080	AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances	15585	AvgMonthlyCashBalances
FMV All Other Noncharitable Assets	0	FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets	54665	TotalFMVOfUnusedAssets
Acquisition Indebtedness	0	AcquisitionIndebtedness
Adj Total FMV Of Unused Assets	54665	AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable	820	CashDeemedCharitable
Net Noncharitable Assets	53845	NetNoncharitableAssets
Minimum Investment Return	2692	MinimumInvestmentReturn

Distributable DistributableAmount

Field	Value	IRS element (for citing)
Minimum Investment Return	2692	MinimumInvestmentReturn
Tax Based On Investment Income	181	TaxBasedOnInvestmentIncome
Total Tax	181	TotalTax
Distributable Amount Before Adj	2511	DistributableAmountBeforeAdj
Distributable Amount Before Ded	2511	DistributableAmountBeforeDed
Distributable Amount As Adjusted	2511	DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

Field	Value	IRS element (for citing)
Expenses And Contributions	9525	ExpensesAndContributions
Program Related Investments Total	0	ProgramRelatedInvestmentsTotal
Amounts Paid Acq Charitable Assets	0	AmountsPaidAcqCharitableAssets
Amounts Set Aside Suitability Test	0	AmountsSetAsideSuitabilityTest
Amounts Set Aside Cash Distri Test	0	AmountsSetAsideCashDistriTest
Qualifying Distributions	9525	QualifyingDistributions
One Pct Sect4940e Org Net Invst Incm	181	OnePctSect4940eOrgNetInvstIncm
Adj Qualifying Distributions	9344	AdjQualifyingDistributions

Undistributed Income UndistributedIncome

Field	Value	IRS element (for citing)
Distributable Amount As Adjusted	2511	DistributableAmountAsAdjusted
Undistributed Income Prior Year	0	UndistributedIncomePriorYear
Prior Year1	2008	PriorYear1
Prior Year2	2007	PriorYear2
Prior Year3	2006	PriorYear3
Excess Distri Carryover Year1	0	ExcessDistriCarryoverYear1
Total Excess Distri Carryover	0	TotalExcessDistriCarryover
Qualifying Distributions	9525	QualifyingDistributions
Applied To Year1	0	AppliedToYear1
Applied To Current Year	2511	AppliedToCurrentYear
Remaining Distri From Corpus	7014	RemainingDistriFromCorpus
Total Corpus	7014	TotalCorpus
Taxable Amount2	0	TaxableAmount2
Undistributed Income CY	0	UndistributedIncomeCY
Excess Distri Cyov To Next Year	7014	ExcessDistriCyovToNextYear
Excess From Year1	0	ExcessFromYear1
Excess From Current Year	7014	ExcessFromCurrentYear

Field	Value	IRS element (for citing)
Private Operating Foundations		PrivateOperatingFoundations

Supplementary Information SupplementaryInformation

Field	Value	IRS element (for citing)
Contributing Manager	GEORGE A BITAR	ContributingManager

Appication Submission Info AppicationSubmissionInfo

Field	Value	IRS element (for citing)
Recipient Name	GEORGE A BITAR	RecipientName

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	901 LEXINGTON AVE APT 6N	AddressLine1
City	NEW YORK	City
State	NY	State
ZIP Code	10065	ZIPCode

Field	Value	IRS element (for citing)
Recipient Phone Number	2125354041	RecipientPhoneNumber
Form And Info And Materials	N/A	FormAndInfoAndMaterials
Submission Deadlines	N/A	SubmissionDeadlines
Restrictions On Awards	N/A	RestrictionsOnAwards

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	Address Line2RecipientUSAddress/AddressLine2
Baby Buggy
306 W 37th Street 8th Floor	New York	NY	10018	None	501(c)(3)	Charitable activities	$5,000
ArteEast
1178 Broadway 3 Floor	New York	NY	10001	None	501(c)(3)	Charitable activities	$3,000
Westchester Maronite Catholic Mission
The Sisters of the Divine Compassio	White Plains	NY	10603	None	501(c)(3)	Religious activities	$1,000	Good Counsel Campus 52 North Broad

Field	Value	IRS element (for citing)
Tot Grant Or Contri Paid During Year	9000	TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Field	Value	IRS element (for citing)
Fees Contracts From Govt Agencies		FeesContractsFromGovtAgencies
Membership Dues And Assessments		MembershipDuesAndAssessments
Int On Savings And Temp Cash Invst		IntOnSavingsAndTempCashInvst

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

Field	Value	IRS element (for citing)
Exclusion Code	14	ExclusionCode
Exclusion	$27	ExclusionAmount

Field	Value	IRS element (for citing)
Net Rental Incm Re Debt Fincd Prop		NetRentalIncmReDebtFincdProp
Net Rntl Incm Re Not Debt Fincd Prop		NetRntlIncmReNotDebtFincdProp
Net Rental Incm Personal Property		NetRentalIncmPersonalProperty
Other Investment Income Part VII		OtherInvestmentIncomePartVII

Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry

Field	Value	IRS element (for citing)
Exclusion Code	18	ExclusionCode
Exclusion	$18,186	ExclusionAmount

Field	Value	IRS element (for citing)
Net Income Loss From Special Events		NetIncomeLossFromSpecialEvents
Gross Profit Loss Sales Of Invntry		GrossProfitLossSalesOfInvntry

Subtotals Part XVIA SubtotalsPartXVIA

Field	Value	IRS element (for citing)
Exclusion	$18,213	ExclusionAmount

Field	Value	IRS element (for citing)
Total Part XVIA	18213	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	FESNAK AND ASSOCIATES, LLP	Category
Amount	$1,050	Amount
Disbursements Charitable Prps	525	DisbursementsCharitablePrps

All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch

All Oth Prog Rltd Investments AllOthProgRltdInvestments

Field	Value	IRS element (for citing)
Description	NONE	Description

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock

Field	Value	IRS element (for citing)
Name Of Stock	APPLE INC	NameOfStock
EOY Book Value	11159	EOYBookValue
EOYFMV	40320	EOYFMV

Land Etc Schedule2 LandEtcSchedule2

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses

Field	Value	IRS element (for citing)
Description	EMA ANNUAL FEE	Description
Revenue And Expenses Per Books	150	RevenueAndExpensesPerBooks
Net Investment Income	150	NetInvestmentIncome