MCKARNS FAMILY FOUNDATION: Form 990PF, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: MCKARNS FAMILY FOUNDATION (EIN 34-1664641)
Tax period: 2010-01-01 to 2010-12-31
Filed: 2011-05-14
IRS object ID: 201121349349100002
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
General Explanation Attachment
Investments Corp Stock Schedule
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-05-14T09:32:32-07:00	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	Herrens Tax Service LLC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	12837 Cenfield St NE	AddressLine1
City	Alliance	City
State	OH	State
ZIP Code	446019414	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	341664641	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	MCKARNS FAMILY FOUNDATION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	MCKA	NameControl
Phone	3302232180	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	29950 CAMPBELL RD	AddressLine1
City	HANOVERTON	City
State	OH	State
ZIP Code	44423	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	WILLIAM T MCKARNS	Name
Title	CO-TRUSTEE	Title
Date Signed	2011-05-10	DateSigned

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Carolyn Herren Gabric	Name
Phone	3308755701	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	26919	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
Dividends Rev And Expnss	653	DividendsRevAndExpnss
Dividends Net Invst Incm	653	DividendsNetInvstIncm
Dividends Adj Net Incm	653	DividendsAdjNetIncm
Net Gain Sale Assets Rev And Expnss	-795	NetGainSaleAssetsRevAndExpnss
Gross Sales Price	4000	GrossSalesPrice
Total Revenue And Expenses	-142	TotalRevenueAndExpenses
Total Net Investment Income	653	TotalNetInvestmentIncome
Total Adjusted Net Income	653	TotalAdjustedNetIncome
Accounting Fees Rev And Expnss	325	AccountingFeesRevAndExpnss
Accounting Fees Net Invst Incm	130	AccountingFeesNetInvstIncm
Accounting Fees Dsbrs Chrtbl Prps	195	AccountingFeesDsbrsChrtblPrps
Taxes Rev And Expnss	6	TaxesRevAndExpnss
Taxes Net Invst Incm	2	TaxesNetInvstIncm
Taxes Dsbrs Chrtbl Prps	4	TaxesDsbrsChrtblPrps
Deprec And Depletion Rev And Expnss	0	DeprecAndDepletionRevAndExpnss
Other Expenses Rev And Expnss	50	OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm	20	OtherExpensesNetInvstIncm
Other Expenses Dsbrs Chrtbl Prps	30	OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss	381	TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm	152	TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps	229	TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss	4430	ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps	4430	ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss	4811	TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm	152	TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps	4659	TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses	-4953	ExcessOfRevenueOverExpenses
Net Investment Income	501	NetInvestmentIncome
Adjusted Net Income	653	AdjustedNetIncome

Balance Sheets BalanceSheets

Field	Value	IRS element (for citing)
Savings And Temp Cash Invst BOY	2572	SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY	1798	SavingsAndTempCashInvstEOY
Savings And Temp Cash Invst EOYFMV	1798	SavingsAndTempCashInvstEOYFMV
Investments Corp Stock BOY	31451	InvestmentsCorpStockBOY
Investments Corp Stock EOY	27272	InvestmentsCorpStockEOY
Investments Corp Stock EOYFMV	25121	InvestmentsCorpStockEOYFMV
Total Assets BOY	34023	TotalAssetsBOY
Total Assets EOY	29070	TotalAssetsEOY
Total Assets EOYFMV	26919	TotalAssetsEOYFMV
Total Liabilities EOY	0	TotalLiabilitiesEOY
Org That Do Not Follow SFAS117	X	OrgThatDoNotFollowSFAS117
Capital Stock BOY	5022	CapitalStockBOY
Capital Stock EOY	5022	CapitalStockEOY
Paid In Or Capital Surplus BOY	50014	PaidInOrCapitalSurplusBOY
Paid In Or Capital Surplus EOY	50014	PaidInOrCapitalSurplusEOY
Retained Earnings BOY	-21013	RetainedEarningsBOY
Retained Earnings EOY	-25966	RetainedEarningsEOY
Total Net Assets BOY	34023	TotalNetAssetsBOY
Total Net Assets EOY	29070	TotalNetAssetsEOY
Total Liabilities Net Assets BOY	34023	TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY	29070	TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

Field	Value	IRS element (for citing)
Total Net Assets Fund Balances BOY	34023	TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses	-4953	ExcessOfRevenueOverExpenses
Subtotal	29070	Subtotal
Total Net Assets Fund Balances EOY	29070	TotalNetAssetsFundBalancesEOY

Capital Gains And Losses CapitalGainsAndLosses

Field	Value	IRS element (for citing)
Capital Gain Net Income	-795	CapitalGainNetIncome

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

Field	Value	IRS element (for citing)
Liable For4942 Tax	false	LiableFor4942Tax
Qualifying Distributions Year1	4863	QualifyingDistributionsYear1
Qualifying Distributions Year2	10972	QualifyingDistributionsYear2
Noncharitable Assets Year2	37039	NoncharitableAssetsYear2
Distribution Ratio Year2	0.29623	DistributionRatioYear2
Qualifying Distributions Year3	20112	QualifyingDistributionsYear3
Noncharitable Assets Year3	43012	NoncharitableAssetsYear3
Distribution Ratio Year3	0.46759	DistributionRatioYear3
Qualifying Distributions Year4	8542	QualifyingDistributionsYear4
Noncharitable Assets Year4	37148	NoncharitableAssetsYear4
Distribution Ratio Year4	0.22995	DistributionRatioYear4
Qualifying Distributions Year5	3964	QualifyingDistributionsYear5
Noncharitable Assets Year5	26244	NoncharitableAssetsYear5
Distribution Ratio Year5	0.15104	DistributionRatioYear5
Total Distribution Ratio	1.14481	TotalDistributionRatio
Average Distribution Ratio	0.22896	AverageDistributionRatio
Net Noncharitable Assets	27327	NetNoncharitableAssets
Adjusted Noncharitable Assets	6257	AdjustedNoncharitableAssets
One Percent Net Investment Income	5	OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One	6262	AdjNonchrtblAssetsAndOnePct
Qualifying Distributions	4659	QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

Field	Value	IRS element (for citing)
Investment Income Excise Tax	10	InvestmentIncomeExciseTax
Subtotal	10	Subtotal
Tax Based On Investment Income	10	TaxBasedOnInvestmentIncome
Tax Due	10	TaxDue
Amount Credited To Next Year	0	AmountCreditedToNextYear

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
Form990 T Filed	false	Form990TFiled
Termination Etc	false	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
Website Address	N/A	WebsiteAddress

Books In Care Of Business Name BooksInCareOfBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	WILLIAM T MCKARNS	BusinessNameLine1

Field	Value	IRS element (for citing)
Books In Care Of Phone Number	3302232180	BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

Field	Value	IRS element (for citing)
Address Line1	29950 CAMPBELL RD	AddressLine1
City	HANOVERTON	City
State	OH	State
ZIP Code	44423	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
Acts Fail To Qualify As Exceptions	false	ActsFailToQualifyAsExceptions
Uncorrected Prior Acts	false	UncorrectedPriorActs
Undistributed Income Prior Years	false	UndistributedIncomePriorYears
Undistr Income4942a2 Not Applied	false	UndistrIncome4942a2NotApplied
Business Holdings	false	BusinessHoldings
Excess Business Holdings	false	ExcessBusinessHoldings
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
Tr Fail To Qualify As Exceptions	false	TrFailToQualifyAsExceptions
Maint Expend Responsibility	false	MaintExpendResponsibility
Rcv Funds To Pay Prsnl Bnft Contract	false	RcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft Contract	false	PayPremiumsPrsnlBnftContract
Prohibited Tax Shelter Transactn	false	ProhibitedTaxShelterTransactn
Proceeds Or Net Income	false	ProceedsOrNetIncome

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
PAULINE M MCKARNS
29950 CAMPBELL RD	HANOVERTON	OH	44423	CO-TRUSTEE	0.00	0
WILLIAM T MCKARNS
29950 CAMPBELL RD	HANOVERTON	OH	44423	CO-TRUSTEE	0.00	0

Field	Value	IRS element (for citing)
Comp Of Highest Paid Empl NONE	NONE	CompOfHighestPaidEmplNONE
Comp Of Hghst Paid Cntrct NONE	NONE	CompOfHghstPaidCntrctNONE

Minimum Investment Return MinimumInvestmentReturn

Field	Value	IRS element (for citing)
Avg Monthly FMV Of Securities	25558	AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances	2185	AvgMonthlyCashBalances
FMV All Other Noncharitable Assets	0	FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets	27743	TotalFMVOfUnusedAssets
Reduction Claimed	0	ReductionClaimed
Adj Total FMV Of Unused Assets	27743	AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable	416	CashDeemedCharitable
Net Noncharitable Assets	27327	NetNoncharitableAssets
Minimum Investment Return	1366	MinimumInvestmentReturn

Distributable DistributableAmount

Field	Value	IRS element (for citing)
Minimum Investment Return	1366	MinimumInvestmentReturn
Tax Based On Investment Income	10	TaxBasedOnInvestmentIncome
Total Tax	10	TotalTax
Distributable Amount Before Adj	1356	DistributableAmountBeforeAdj
Distributable Amount Before Ded	1356	DistributableAmountBeforeDed
Distributable Amount As Adjusted	1356	DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

Field	Value	IRS element (for citing)
Expenses And Contributions	4659	ExpensesAndContributions
Qualifying Distributions	4659	QualifyingDistributions
Adj Qualifying Distributions	4659	AdjQualifyingDistributions

Undistributed Income UndistributedIncome

Field	Value	IRS element (for citing)
Distributable Amount As Adjusted	1356	DistributableAmountAsAdjusted
Excess Distri Carryover Year5	2679	ExcessDistriCarryoverYear5
Excess Distri Carryover Year4	6747	ExcessDistriCarryoverYear4
Excess Distri Carryover Year3	17993	ExcessDistriCarryoverYear3
Excess Distri Carryover Year2	9138	ExcessDistriCarryoverYear2
Excess Distri Carryover Year1	4869	ExcessDistriCarryoverYear1
Total Excess Distri Carryover	41426	TotalExcessDistriCarryover
Qualifying Distributions	4659	QualifyingDistributions
Treated As Distri From Corpus	0	TreatedAsDistriFromCorpus
Applied To Current Year	1356	AppliedToCurrentYear
Remaining Distri From Corpus	3303	RemainingDistriFromCorpus
Total Corpus	44729	TotalCorpus
Undistributed Income CY	0	UndistributedIncomeCY
Excess Distri Cyov From Year5	2679	ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year	42050	ExcessDistriCyovToNextYear
Excess From Year4	6747	ExcessFromYear4
Excess From Year3	17993	ExcessFromYear3
Excess From Year2	9138	ExcessFromYear2
Excess From Year1	4869	ExcessFromYear1
Excess From Current Year	3303	ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

Field	Value	IRS element (for citing)
Only Contributes To Preselected	X	OnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (6 entries)

Address Line1RecipientUSAddress/AddressLine1	CityRecipientUSAddress/City	StateRecipientUSAddress/State	ZIP CodeRecipientUSAddress/ZIPCode	Recipient RelationshipRecipientRelationship	Recipient Foundation StatusRecipientFoundationStatus	Purpose Of Grant Or ContributionPurposeOfGrantOrContribution	AmountAmount
COLUMBIANA COUNTY ARCHIEVES
RESEARCH CENTER	LISBON	OH	44432	N/A	PUBLIC	NON-PROFIT	$100
SOUTHEAST FRANCISCAN MISSION
PO BOX 12395	ALBUQUERQUE	NM	87195	N/A	PUBLIC	RELIGIOUS	$100
KIWANIS CLUB
SALINEVILLE	SALINEVILLE	OH	43945	N/A	PUBLIC	NON-PROFIT	$50
OHIO HOLSTEIN JR ASSOC
PO BOX 479	WOOSTER	OH	44691	N/A	PUBLIC	NON-PROFIT	$100
CATHOLIC CHARITIES DIOCESE OF YOUNG
PO BOX 1195	YOUNGSTOWN	OH	44501	N/A	PUBLIC	RELIGIOUS	$660
ST JOHN'S CHURCH
PO BOX 309	HANOVERTON	OH	44423	N/A	PUBLIC	RELIGIOUS	$3,420

Field	Value	IRS element (for citing)
Tot Grant Or Contri Paid During Year	4430	TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	653	RelatedOrExemptFunctionIncome

Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	-795	RelatedOrExemptFunctionIncome

Subtotals Part XVIA SubtotalsPartXVIA

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	-142	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Part XVIA	-142	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	Tax Preparation Fee Form 990	Category
Amount	$325	Amount
Net Investment Income	130	NetInvestmentIncome
Adjusted Net Income	0	AdjustedNetIncome
Disbursements Charitable Prps	195	DisbursementsCharitablePrps

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanation (2 entries)

ExplanationExplanation
OHIO FILING INSTRUCTIONS:Enclose a check for $50 payable to: Treasurer, State of Ohio. Sign and mail form, "Verification of Filing with the Internal Revenue Service", by May 15th to: Ohio Attorney General Charitable Law Section 150 E. Gay St., 23rd Floor Columbus, OH 43215-3130
PUBLIC NOTICE:Run notice in your local newspaper: PUBLIC NOTICE The Annual Report of TheMcKarns Family Foundation isavailable at its principleoffice for inspection duringregular business hours by anycitizen who requests it within180 days after the date ofthis notice. The address ofThe McKarns Family Foundationis 29950 Campbell Road, Han-overton, OH 44423, and itsmanager to contact is Mr.William McKarns, telephonenumber (330) 223-2180. Datedthis ________ The McKarns Fam-ily Foundation.Published in______________________________Date _________________________.

ExplanationExplanation

OHIO FILING INSTRUCTIONS:Enclose a check for $50 payable to: Treasurer, State of Ohio. Sign and mail form, "Verification of Filing with the Internal Revenue Service", by May 15th to: Ohio Attorney General Charitable Law Section 150 E. Gay St., 23rd Floor Columbus, OH 43215-3130

PUBLIC NOTICE:Run notice in your local newspaper: PUBLIC NOTICE The Annual Report of TheMcKarns Family Foundation isavailable at its principleoffice for inspection duringregular business hours by anycitizen who requests it within180 days after the date ofthis notice. The address ofThe McKarns Family Foundationis 29950 Campbell Road, Han-overton, OH 44423, and itsmanager to contact is Mr.William McKarns, telephonenumber (330) 223-2180. Datedthis ________ The McKarns Fam-ily Foundation.Published in______________________________Date _________________________.

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corp Stock InvestmentsCorpStock (4 entries)

Name Of StockNameOfStock	EOY Book ValueEOYBookValue	EOYFMVEOYFMV
15 SH CITADEL BROADCASTING STOCK
314 SH TECO ENERGY STOCK	6790	5883
100 SH DISNEY STOCK	3183	3751
276 SH DODGE & COX FUND	17299	15487

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses

Field	Value	IRS element (for citing)
Description	Ohio Filing Fees	Description
Revenue And Expenses Per Books	50	RevenueAndExpensesPerBooks
Net Investment Income	20	NetInvestmentIncome
Disbursements Charitable Prps	30	DisbursementsCharitablePrps

Taxes Schedule TaxesSchedule

Taxes Taxes

Field	Value	IRS element (for citing)
Category	U.S. Treasury	Category
Amount	$6	Amount
Net Investment Income	2	NetInvestmentIncome
Disbursements Charitable Prps	4	DisbursementsCharitablePrps