ROCHELLE AND JEFF SITT FAMILY FOUNDATION: Form 990PF, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
ROCHELLE AND JEFF SITT FAMILY FOUNDATION (EIN 34-1994510)
Tax period
2010-01-01 to 2010-12-31
Filed
2011-05-13
IRS object ID
201121339349100222
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)
Timestamp2011-05-13T08:36:03-05:00Timestamp
Tax Period End Date2010-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1MILLER & COMPANY LLPBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line11206 149TH STAddressLine1
CityWHITESTONECity
StateNYState
ZIP Code113571742ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnType
Tax Period Begin Date2010-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN341994510EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1JEFFREY & CEILEE SITT FAMILYBusinessNameLine1
Business Name Line2FOUNDATIONBusinessNameLine2
FieldValueIRS element (for citing)
Name ControlJEFFNameControl
Phone9172736843Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line155 WASHINGTON STREETAddressLine1
Address Line2ROOM/SUITE 612AddressLine2
CityBROOKLYNCity
StateNYState
ZIP Code11201ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameJEFFREY SITTName
TitlePRESIDENTTitle
Phone9172736843Phone
Date Signed2011-05-03DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
NamePAUL MILLER CPAName
Phone7187670737Phone
Date Prepared2011-05-13DatePrepared
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 EOY394697FMVAssetsEOY
Method Of Accounting CashXMethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Received Rev And Expnss189ContriReceivedRevAndExpnss
Not Required To Attach Schedule BXNotRequiredToAttachScheduleB
Interest On Savings Rev And Expnss1032InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm1032InterestOnSavingsNetInvstIncm
Dividends Rev And Expnss10DividendsRevAndExpnss
Dividends Net Invst Incm10DividendsNetInvstIncm
Other Income Rev And Expnss-25466OtherIncomeRevAndExpnss
Total Revenue And Expenses-24235TotalRevenueAndExpenses
Total Net Investment Income1042TotalNetInvestmentIncome
Other Prof Fees Rev And Expnss8516OtherProfFeesRevAndExpnss
Taxes Rev And Expnss100TaxesRevAndExpnss
Other Expenses Rev And Expnss5OtherExpensesRevAndExpnss
Tot Opr Expenses Rev And Expnss8621TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm0TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps0TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss28639ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps28639ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss37260TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm0TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps28639TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses-61495ExcessOfRevenueOverExpenses
Net Investment Income1042NetInvestmentIncome

Balance Sheets BalanceSheets

FieldValueIRS element (for citing)
Savings And Temp Cash Invst BOY107925SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY14697SavingsAndTempCashInvstEOY
Savings And Temp Cash Invst EOYFMV14697SavingsAndTempCashInvstEOYFMV
Receivables From Officers BOY250000ReceivablesFromOfficersBOY
Receivables From Officers EOY380000ReceivablesFromOfficersEOY
Receivables From Officers EOYFMV380000ReceivablesFromOfficersEOYFMV
Other Notes And Loans Rcvbl BOY73000OtherNotesAndLoansRcvblBOY
Investments Other BOY142149InvestmentsOtherBOY
Investments Other EOY116732InvestmentsOtherEOY
Total Assets BOY573074TotalAssetsBOY
Total Assets EOY511429TotalAssetsEOY
Total Assets EOYFMV394697TotalAssetsEOYFMV
Total Liabilities EOY0TotalLiabilitiesEOY
Org That Do Not Follow SFAS117XOrgThatDoNotFollowSFAS117
Retained Earnings BOY573074RetainedEarningsBOY
Retained Earnings EOY511429RetainedEarningsEOY
Total Net Assets BOY573074TotalNetAssetsBOY
Total Net Assets EOY511429TotalNetAssetsEOY
Total Liabilities Net Assets BOY573074TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY511429TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

FieldValueIRS element (for citing)
Total Net Assets Fund Balances BOY573074TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses-61495ExcessOfRevenueOverExpenses
Subtotal511579Subtotal
Other Decreases150OtherDecreases
Total Net Assets Fund Balances EOY511429TotalNetAssetsFundBalancesEOY

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

FieldValueIRS element (for citing)
Liable For4942 TaxfalseLiableFor4942Tax
Qualifying Distributions Year130211QualifyingDistributionsYear1
Noncharitable Assets Year1729884NoncharitableAssetsYear1
Distribution Ratio Year10.041392DistributionRatioYear1
Qualifying Distributions Year257407QualifyingDistributionsYear2
Noncharitable Assets Year2311939NoncharitableAssetsYear2
Distribution Ratio Year20.184033DistributionRatioYear2
Qualifying Distributions Year378352QualifyingDistributionsYear3
Noncharitable Assets Year3541884NoncharitableAssetsYear3
Distribution Ratio Year30.144592DistributionRatioYear3
Qualifying Distributions Year4129938QualifyingDistributionsYear4
Noncharitable Assets Year4403055NoncharitableAssetsYear4
Distribution Ratio Year40.322383DistributionRatioYear4
Qualifying Distributions Year5264460QualifyingDistributionsYear5
Noncharitable Assets Year5561589NoncharitableAssetsYear5
Distribution Ratio Year50.470914DistributionRatioYear5
Total Distribution Ratio1.163314TotalDistributionRatio
Average Distribution Ratio0.232663AverageDistributionRatio
Net Noncharitable Assets544833NetNoncharitableAssets
Adjusted Noncharitable Assets126762AdjustedNoncharitableAssets
One Percent Net Investment Income10OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One126772AdjNonchrtblAssetsAndOnePct
Qualifying Distributions28639QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

FieldValueIRS element (for citing)
Investment Income Excise Tax21InvestmentIncomeExciseTax
Subtotal21Subtotal
Tax Based On Investment Income21TaxBasedOnInvestmentIncome
Tax Due21TaxDue
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
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 Person NameJEFFREY SITTBooksInCareOfPersonName
Books In Care Of Phone Number9172736843BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

FieldValueIRS element (for citing)
Address Line155 WASHINGTON STAddressLine1
Address Line2SUITE 612AddressLine2
CityBROOKLYNCity
StateNYState
ZIP Code11201ZIPCode

Statements Regarding Acty4720 StatementsRegardingActy4720

FieldValueIRS element (for citing)
Sale Or Exchange With Dsqfly PersonfalseSaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly PersontrueBorrowOrLendWithDsqflyPerson
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
Undistributed Income Prior YearsfalseUndistributedIncomePriorYears
Business HoldingsfalseBusinessHoldings
Jeopardy InvestmentsfalseJeopardyInvestments
Uncorrected Jeopardy InvestmentsfalseUncorrectedJeopardyInvestments
Influence LegislationfalseInfluenceLegislation
Influence ElectionfalseInfluenceElection
Grants To IndividualsfalseGrantsToIndividuals
Grants To OrganizationsfalseGrantsToOrganizations
Noncharitable PurposefalseNoncharitablePurpose
Rcv Funds To Pay Prsnl Bnft ContractfalseRcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft ContractfalsePayPremiumsPrsnlBnftContract

Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo

Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (2 entries)

Address Line1USAddress/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleAvg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPositionCompensationCompensationContri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtcExpense Account Other AllowancesExpenseAccountOtherAllowances
JEFFREY SITT
1127 E 7TH STBROOKLYNNY11230PRESIDENT20.00000
CEILEE SITT
1127 E 7TH STBROOKLYNNY11230VICE-PRES.20.00000
FieldValueIRS element (for citing)
Comp Of Highest Paid Empl NONENONECompOfHighestPaidEmplNONE
Comp Of Hghst Paid Cntrct NONENONECompOfHghstPaidCntrctNONE

Sum Of Program Related Investments SumOfProgramRelatedInvestments

FieldValueIRS element (for citing)
Description1N/ADescription1

Minimum Investment Return MinimumInvestmentReturn

FieldValueIRS element (for citing)
Avg Monthly FMV Of Securities8795AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances95900AvgMonthlyCashBalances
FMV All Other Noncharitable Assets448435FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets553130TotalFMVOfUnusedAssets
Adj Total FMV Of Unused Assets553130AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable8297CashDeemedCharitable
Net Noncharitable Assets544833NetNoncharitableAssets
Minimum Investment Return27242MinimumInvestmentReturn

Distributable DistributableAmount

FieldValueIRS element (for citing)
Minimum Investment Return27242MinimumInvestmentReturn
Tax Based On Investment Income21TaxBasedOnInvestmentIncome
Total Tax21TotalTax
Distributable Amount Before Adj27221DistributableAmountBeforeAdj
Distributable Amount Before Ded27221DistributableAmountBeforeDed
Distributable Amount As Adjusted27221DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

FieldValueIRS element (for citing)
Expenses And Contributions28639ExpensesAndContributions
Qualifying Distributions28639QualifyingDistributions
Adj Qualifying Distributions28639AdjQualifyingDistributions

Undistributed Income UndistributedIncome

FieldValueIRS element (for citing)
Distributable Amount As Adjusted27221DistributableAmountAsAdjusted
Excess Distri Carryover Year5258327ExcessDistriCarryoverYear5
Excess Distri Carryover Year482471ExcessDistriCarryoverYear4
Excess Distri Carryover Year351822ExcessDistriCarryoverYear3
Excess Distri Carryover Year242270ExcessDistriCarryoverYear2
Total Excess Distri Carryover434890TotalExcessDistriCarryover
Qualifying Distributions28639QualifyingDistributions
Applied To Current Year27221AppliedToCurrentYear
Remaining Distri From Corpus1418RemainingDistriFromCorpus
Total Corpus436308TotalCorpus
Undistributed Income CY0UndistributedIncomeCY
Excess Distri Cyov From Year5258327ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year177981ExcessDistriCyovToNextYear
Excess From Year482471ExcessFromYear4
Excess From Year351822ExcessFromYear3
Excess From Year242270ExcessFromYear2
Excess From Current Year1418ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

FieldValueIRS element (for citing)
Only Contributes To PreselectedXOnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear

FieldValueIRS element (for citing)
Recipient Person NameSEE ATTACHED SCHEDULERecipientPersonName

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line155 WASHINGTON STREETAddressLine1
CityBROOKLYNCity
StateNYState
ZIP Code11201ZIPCode
FieldValueIRS element (for citing)
Purpose Of Grant Or ContributionGENERAL FUNDPurposeOfGrantOrContribution
Amount$28,639Amount
FieldValueIRS element (for citing)
Tot Grant Or Contri Paid During Year28639TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst

FieldValueIRS element (for citing)
Related Or Exempt Function Income1032RelatedOrExemptFunctionIncome

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

FieldValueIRS element (for citing)
Related Or Exempt Function Income10RelatedOrExemptFunctionIncome

Other Revenue Described OtherRevenueDescribed (2 entries)

DescriptionDescriptionRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncome
351 BOWERY-ADJUSTMENT4339
351 BOWERY - PASSTHROUGH-29805

Subtotals Part XVIA SubtotalsPartXVIA

FieldValueIRS element (for citing)
Related Or Exempt Function Income-24424RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Part XVIA-24424TotalPartXVIA

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

Compensation Explanation CompensationExplanation

Compensation Compensation (2 entries)

JEFFREY SITT
CEILEE SITT

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOther (2 entries)

Category Or ItemCategoryOrItemBook ValueBookValueListed At Cost Or FMVListedAtCostOrFMV
351 BOWERY PARTNERS, LLC68435
MARKETABLE SECURITIES48297AT COST

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases OtherDecreases

FieldValueIRS element (for citing)
DescriptionFEDERAL TAXDescription
Amount$150Amount

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses (2 entries)

DescriptionDescriptionRevenue And Expenses Per BooksRevenueAndExpensesPerBooks
EXPENSES
BANK CHARGES5

Other Income Schedule2 OtherIncomeSchedule2

Other Income OtherIncome (2 entries)

DescriptionDescriptionRevenue And Expenses Per BooksRevenueAndExpensesPerBooks
351 BOWERY-ADJUSTMENT4339
351 BOWERY - PASSTHROUGH-29805

Other Notes Loans Rcvbl Long Sch OtherNotesLoansRcvblLongSch

Other Notes Loans Rcvbl Long OtherNotesLoansRcvblLong (2 entries)

IndividualBorrowersName/IndividualRelationship To InsiderRelationshipToInsiderOriginal Amount Of LoanOriginalAmountOfLoanDate Of NoteDateOfNoteRepayment TermsRepaymentTermsInterest RateInterestRatePurpose Of LoanPurposeOfLoan
GLORIA SITTFAMILY330002009-12REPAID0.0400SHORT TERM LOAN
HARRY KOTOWITZCOLLEAGUE500002009-03LOAN REPAID0.1000

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees OtherProfessionalFees (2 entries)

CategoryCategoryAmountAmount
MANAGEMENT FEES$6,670
ACCOUNTING FEES$1,846

Other Receivables Officers Sch OtherReceivablesOfficersSch

Other Receivables Officer OtherReceivablesOfficer

FieldValueIRS element (for citing)
Borrowers NameVINEGAR HILL HOLDING COMPANY LLCBorrowersName
Borrowers TitleMANAGING MEMBERBorrowersTitle
Original Amount Of Loan50000OriginalAmountOfLoan
Balance Due380000BalanceDue
Date Of Note2009-09DateOfNote
Repayment TermsWILL PAYDOWN IN 2011RepaymentTerms
Interest Rate0.0400InterestRate
Purpose Of LoanSHORT TERM LOANPurposeOfLoan
Consideration Fmv380000ConsiderationFmv

Taxes Schedule TaxesSchedule

Taxes Taxes

FieldValueIRS element (for citing)
CategoryNYS FILING FEECategory
Amount$100Amount

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