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P AND C CARROLL FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
P AND C CARROLL FOUNDATION (EIN 45-0529796)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-03-13
IRS object ID
202530729349100018
Schema version
2024v5.0
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)
Return2025-03-13T13:43:01-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN453113602PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Britton & Associates CPAs PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line110103 Fondren Rd Ste 390AddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN450529796EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE P AND C CARROLL FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% KENNETH A CARROLLInCareOfNm
Business Name ControlPANDBusinessNameControlTxt
Phone7132835200PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line110103 FONDREN RD STE 390AddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKENNETH A CARROLLPersonNm
Person TitleSECRETARY AS NEEDEDPersonTitleTxt
Phone7132835200PhoneNum
Signature2025-03-06SignatureDt
Discuss With Paid PreparerfalseDiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARVIN LYNN BRITTONPreparerPersonNm
PTINP01351802PTIN
Phone7132835200PhoneNum
Preparation2025-03-13PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$4,489,489FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$31,777DividendsRevAndExpnssAmt
Dividends Net Invst Incm$31,377DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$322,062NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,224,177GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$322,062CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$353,839TotalRevAndExpnssAmt
Total Net Invst Incm$353,439TotalNetInvstIncmAmt
Other Prof Fees Rev And Expnss$3,600OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$3,600OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$463TaxesRevAndExpnssAmt
Taxes Net Invst Incm$463TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$41,776OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$41,776OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$45,839TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$45,839TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$264,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$264,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$310,339TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$45,839TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$264,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$43,500ExcessRevenueOverExpensesAmt
Net Investment Income$307,600NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$71,209CashBOYAmt
Cash EOY$82,693CashEOYAmt
Cash EOYFMV$82,693CashEOYFMVAmt
Corporate Stock BOY$2,036,421CorporateStockBOYAmt
Corporate Stock EOY$2,070,655CorporateStockEOYAmt
Corporate Stock EOYFMV$4,406,796CorporateStockEOYFMVAmt
Total Assets BOY$2,107,630TotalAssetsBOYAmt
Total Assets EOY$2,153,348TotalAssetsEOYAmt
Total Assets EOYFMV$4,489,489TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$2,107,630RetainedEarningBOYAmt
Retained Earning EOY$2,153,348RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$2,107,630TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,153,348TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,107,630TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,153,348TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,107,630TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$43,500ExcessRevenueOverExpensesAmt
Other Increases$2,218OtherIncreasesAmt
Subtotal$2,153,348SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,153,348TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
MOR STAN ACCT 824 327 PDF ATACHEDP2024-07-012024-12-31$58,924$55,675$3,249$3,249
MOR STAN ACCT 824 327 PDF ATTACHEDP2023-07-012024-12-31$186,493$107,820$78,673$78,673
MOR STAN ACCT 825 327 PDF ATTACHEDP2024-07-012024-12-31$61,620$70,024-$8,404-$8,404
MOR STAN ACCT 825 327 PDF ATTACHEDP2023-07-012024-12-31$917,140$668,596$248,544$248,544
FieldValueIRS element (for citing)
Capital Gain Net Income$322,062CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss-$5,155NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$4,276InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$4,276SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$4,276TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$5,424EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$5,424TotalPaymentsAndCreditsAmt
Overpayment$1,148OverpaymentAmt
Applied To ES Tax$1,148AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateTXOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Individual With BooksBRITTON ASSOCIATES CPAS PLLCIndividualWithBooksNm
Phone7132835200PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line110103 FONDREN RD SUITE 390AddressLine1Txt
CityHOUSTONCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
CHARLENE P CARROLL
10103 FONDREN RDHOUSTONTX77096SECR AS NEEDED0.00$0$0$0
KENNETH A CARROLL
10103 FONDREN RDHOUSTONTX77096SECR AS NEEDED0.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1PLEASE NOTE THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES ITS PURPOSE IS TO SUPPPORT BY CONTRIBUTIONS OTHER 501 C3 ORGANIZATIONSDescription1Txt
Expenses1$0Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$4,144,092AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$76,951AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,221,043TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$4,221,043AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$63,316CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,157,727NetVlNoncharitableAssetsAmt
Minimum Investment Return$207,886MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$207,886MinimumInvestmentReturnAmt
Tax Based On Investment Income$4,276TaxBasedOnInvestmentIncomeAmt
Total Tax$4,276TotalTaxAmt
Distributable Before Adj$203,610DistributableBeforeAdjAmt
Distributable Before Ded$203,610DistributableBeforeDedAmt
Distributable As Adjusted$203,610DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$264,500ExpensesAndContributionsAmt
Qualifying Distributions$264,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$203,610DistributableAsAdjustedAmt
Prior Year12014PriorYear1Yr
Prior Year22013PriorYear2Yr
Prior Year32012PriorYear3Yr
Excess Distribution Cyov Yr5$310,124ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$287,999ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$447,401ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$391,162ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$71,859ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,508,545TotalExcessDistributionCyovAmt
Qualifying Distributions$264,500QualifyingDistributionsAmt
Applied To Current Year$203,610AppliedToCurrentYearAmt
Remaining Distri From Corpus$60,890RemainingDistriFromCorpusAmt
Total Corpus$1,569,435TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$310,124ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,259,311ExcessDistriCyovToNextYrAmt
Excess From Year4$287,999ExcessFromYear4Amt
Excess From Year3$447,401ExcessFromYear3Amt
Excess From Year2$391,162ExcessFromYear2Amt
Excess From Year1$71,859ExcessFromYear1Amt
Excess From Current Year$60,890ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerPHILLIP J CARROLL JRContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonVARIOUS PDF ATTACHEDRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line110103 FONDREN RD STE 390AddressLine1Txt
CityHoustonCityNm
State AbbreviationTXStateAbbreviationCd
ZIP77096ZIPCd
FieldValueIRS element (for citing)
Grant Or Contribution PurposeCHARITYGrantOrContributionPurposeTxt
Amt$264,500Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$264,500TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$31,777ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$322,062ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$353,839ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$353,839TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
PDF ATTACHED MOR STAN 141824$144,321$223,857
PDF ATTACHED MOR STAN 141825$1,926,334$4,182,939

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescINVESTMENT FEESDesc
Revenue And Expenses Per Books$41,776RevenueAndExpensesPerBooksAmt
Net Investment Income$41,776NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescADJ COST BASIS MORGAN STANLEY ACCTDesc
Amt$2,218Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryTAX RETURN PREP FEESCategoryTxt
Amt$3,600Amt
Net Investment Income$3,600NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXESCategoryTxt
Amt$463Amt
Net Investment Income$463NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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