WILLETT FAMILY FOUNDATION: Form 990PF, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- WILLETT FAMILY FOUNDATION (EIN 26-2935372)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-05-04
- IRS object ID
- 201131309349100013
- 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
- General Explanation Attachment
- Investments Corp Stock Schedule
- Other Expenses Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-05-04T12:38:22-00:00 | 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 | 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 | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 262935372 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Willett Family Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | WILL | NameControl |
| Phone | 8008391754 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | c/o Foundation Source 501 Silversid | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Kenneth G Willett | Name |
| Title | President | Title |
| Date Signed | 2011-05-04 | DateSigned |
| Authorize Third Party | false | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Jeffrey D Haskell | Name |
| Phone | 8008391754 | Phone |
| Date Prepared | 2011-05-04 | DatePrepared |
| 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 | 109187 | 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 | 1 | InterestOnSavingsRevAndExpnss |
| Interest On Savings Net Invst Incm | 1 | InterestOnSavingsNetInvstIncm |
| Dividends Rev And Expnss | 4395 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 4395 | DividendsNetInvstIncm |
| Net Gain Sale Assets Rev And Expnss | 13548 | NetGainSaleAssetsRevAndExpnss |
| Gross Sales Price | 118600 | GrossSalesPrice |
| Capital Gain Net Incm Net Invst Incm | 13548 | CapitalGainNetIncmNetInvstIncm |
| Total Revenue And Expenses | 17944 | TotalRevenueAndExpenses |
| Total Net Investment Income | 17944 | TotalNetInvestmentIncome |
| Other Prof Fees Rev And Expnss | 1597 | OtherProfFeesRevAndExpnss |
| Other Prof Fees Net Invst Incm | 1597 | OtherProfFeesNetInvstIncm |
| Taxes Rev And Expnss | 53 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 4992 | OtherExpensesRevAndExpnss |
| Other Expenses Dsbrs Chrtbl Prps | 4992 | OtherExpensesDsbrsChrtblPrps |
| Tot Opr Expenses Rev And Expnss | 6642 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 1597 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 4992 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 7000 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 7000 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 13642 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 1597 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 11992 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 4302 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 16347 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 1364 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 1801 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 1801 | SavingsAndTempCashInvstEOYFMV |
| Investments Corp Stock BOY | 92338 | InvestmentsCorpStockBOY |
| Investments Corp Stock EOY | 96203 | InvestmentsCorpStockEOY |
| Investments Corp Stock EOYFMV | 107386 | InvestmentsCorpStockEOYFMV |
| Total Assets BOY | 93702 | TotalAssetsBOY |
| Total Assets EOY | 98004 | TotalAssetsEOY |
| Total Assets EOYFMV | 109187 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 93702 | RetainedEarningsBOY |
| Retained Earnings EOY | 98004 | RetainedEarningsEOY |
| Total Net Assets BOY | 93702 | TotalNetAssetsBOY |
| Total Net Assets EOY | 98004 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 93702 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 98004 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 93702 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 4302 | ExcessOfRevenueOverExpenses |
| Subtotal | 98004 | Subtotal |
| Total Net Assets Fund Balances EOY | 98004 | 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 |
| Gross Sales Price | 118600 | GrossSalesPrice |
| Cost Or Other Basis | 105052 | CostOrOtherBasis |
| Gain Or Loss | 13548 | GainOrLoss |
| Gains Minus Excess Or Losses | 13548 | GainsMinusExcessOrLosses |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | 13548 | CapitalGainNetIncome |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 3318 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 92726 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 000.035783 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 4900 | QualifyingDistributionsYear2 |
| Noncharitable Assets Year2 | 31330 | NoncharitableAssetsYear2 |
| Distribution Ratio Year2 | 000.156400 | DistributionRatioYear2 |
| Total Distribution Ratio | 000.192183 | TotalDistributionRatio |
| Average Distribution Ratio | 000.096092 | AverageDistributionRatio |
| Net Noncharitable Assets | 101909 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 9793 | AdjustedNoncharitableAssets |
| One Percent Net Investment Income | 163 | OnePercentNetInvestmentIncome |
| Adj Nonchrtbl Assets And One | 9956 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 11992 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 163 | InvestmentIncomeExciseTax |
| Subtotal | 163 | Subtotal |
| Tax Based On Investment Income | 163 | TaxBasedOnInvestmentIncome |
| Tax Due | 163 | 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 |
| 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 | 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 (5 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | TitleTitle | Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition | CompensationCompensation |
|---|---|---|---|---|---|---|
| Kenneth G Willett | ||||||
| c/o Foundation Source 501 Silversid | Wilmington | DE | 19809 | President / Director / Secretary | 001.00 | 0 |
| Catherine R Willett | ||||||
| c/o Foundation Source 501 Silversid | Wilmington | DE | 19809 | Vice President | 001.00 | 0 |
| Christopher P Willett | ||||||
| c/o Foundation Source 501 Silversid | Wilmington | DE | 19809 | Vice President | 001.00 | 0 |
| Claire E Willett | ||||||
| c/o Foundation Source 501 Silversid | Wilmington | DE | 19809 | Vice President | 001.00 | 0 |
| Colin M Willett | ||||||
| c/o Foundation Source 501 Silversid | Wilmington | DE | 19809 | Vice President | 001.00 | 0 |
| 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 | 102229 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 1232 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 103461 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 103461 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 1552 | CashDeemedCharitable |
| Net Noncharitable Assets | 101909 | NetNoncharitableAssets |
| Minimum Investment Return | 5095 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 5095 | MinimumInvestmentReturn |
| Tax Based On Investment Income | 163 | TaxBasedOnInvestmentIncome |
| Total Tax | 163 | TotalTax |
| Distributable Amount Before Adj | 4932 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 4932 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 4932 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 11992 | ExpensesAndContributions |
| Qualifying Distributions | 11992 | QualifyingDistributions |
| One Pct Sect4940e Org Net Invst Incm | 163 | OnePctSect4940eOrgNetInvstIncm |
| Adj Qualifying Distributions | 11829 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 4932 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year2 | 2871 | ExcessDistriCarryoverYear2 |
| Total Excess Distri Carryover | 2871 | TotalExcessDistriCarryover |
| Qualifying Distributions | 11992 | QualifyingDistributions |
| Applied To Current Year | 4932 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 7060 | RemainingDistriFromCorpus |
| Total Corpus | 9931 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov To Next Year | 9931 | ExcessDistriCyovToNextYear |
| Excess From Year2 | 2871 | ExcessFromYear2 |
| Excess From Current Year | 7060 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Kenneth G Willett | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
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 |
|---|---|---|---|---|---|---|---|
| HAITIAN PROJECT INC | |||||||
| PO BOX 6891 | PROVIDENCE | RI | 02940 | N/A | 509(a)(1) | General Unrestricted | $2,000 |
| LORI C CO WILLETT FAMILY FOUNDATI | |||||||
| 501 SILVERSIDE ROAD SUITE 123 | WILMINGTON | DE | 19809 | NONE | N/A | Hardship Assistance | $3,000 |
| MERCY CORPS | |||||||
| 45 SW ANKENY ST | PORTLAND | OR | 97204 | N/A | 509(a)(1) | Haitian Earthquake Relief Fund | $2,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 7000 | 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 | $1 | ExclusionAmount |
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $4,395 | ExclusionAmount |
Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 18 | ExclusionCode |
| Exclusion | $13,548 | ExclusionAmount |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $17,944 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 17944 | 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
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corp Stock InvestmentsCorpStock (10 entries)
| Name Of StockNameOfStock | EOY Book ValueEOYBookValue | EOYFMVEOYFMV |
|---|---|---|
| 290 shares of ALLIANT CORP LNT | 9851 | 10663 |
| 451 shares of AMERICAN WATER WORKS COMPANY INC COMMON STOCK AWK | 9853 | 11406 |
| 644 shares of CENTERPOINT ENERGY CNP | 10462 | 10124 |
| 258 shares of DOMINION RESOURCES INC D | 10134 | 11022 |
| 160 shares of NEXTERA ENERGY, INC NEE | 8420 | 8318 |
| 278 shares of NSTAR INC. NST | 10122 | 11728 |
| 237 shares of PG E CORP PCG | 8939 | 11338 |
| 416 shares of VECTREN CORP VVC | 10133 | 10558 |
| 196 shares of WISCONSIN ENERGY CP WEC | 8438 | 11537 |
| 454 shares of XCEL ENERGY INC XEL | 9851 | 10692 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks | Disbursements Charitable PrpsDisbursementsCharitablePrps |
|---|---|---|
| Administrative Fees | 4967 | 4967 |
| 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 | $1,597 | Amount |
| Net Investment Income | 1597 | NetInvestmentIncome |
Taxes Schedule TaxesSchedule
Taxes Taxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Excise Tax for 2009 | Category |
| Amount | $53 | Amount |
| Net Investment Income | 0 | NetInvestmentIncome |
| Adjusted Net Income | 0 | AdjustedNetIncome |
| Disbursements Charitable Prps | 0 | DisbursementsCharitablePrps |
Comments