ISIDORE C AND PENNY W MYERS FOUNDATION: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ISIDORE C AND PENNY W MYERS FOUNDATION (EIN 58-6440956)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-29
- IRS object ID
- 202403049349100200
- Schema version
- 2023v5.1
- 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
- Legal Fees Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-10-29T22:25:34-07:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 330971213 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORBIN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 Upper Newport Plaza Drive Ste 200 | AddressLine1Txt |
| City | Newport Beach | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92660 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 586440956 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Isidore C and Penny W Myers Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ISID | BusinessNameControlTxt |
| Phone | 9497522100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2 Upper Newport Plaza | AddressLine1Txt |
| City | Newport Beach | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92660 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Joseph Erickson | PersonNm |
| Person Title | Director | PersonTitleTxt |
| Signature | 2024-10-21 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Steven M Corbin | PreparerPersonNm |
| PTIN | P00027220 | PTIN |
| Phone | 9497522090 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $0 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $1,692 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $1,692 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $1,692 | InterestOnSavingsAdjNetIncmAmt |
| Other Income Rev And Expnss | $2,536,143 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $2,536,143 | OtherIncomeNetInvstIncmAmt |
| Other Income Adj Net Incm | $2,536,143 | OtherIncomeAdjNetIncmAmt |
| Total Rev And Expnss | $2,537,835 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,537,835 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $2,537,835 | TotalAdjNetIncmAmt |
| Legal Fees Rev And Expnss | $2,490 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $2,490 | LegalFeesNetInvstIncmAmt |
| Legal Fees Dsbrs Chrtbl | $2,490 | LegalFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $35,268 | TaxesRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $12,441 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $12,441 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $12,441 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $50,199 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $14,931 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $14,931 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $2,105,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $2,105,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $2,155,199 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $14,931 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $2,119,931 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $382,636 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,522,904 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $2,537,835 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $36,450 | CashBOYAmt |
| Cash EOY | $22,286 | CashEOYAmt |
| Prepaid Expenses BOY | $31,456 | PrepaidExpensesBOYAmt |
| Prepaid Expenses EOY | $56,456 | PrepaidExpensesEOYAmt |
| Other Investments BOY | $43,165,914 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $43,572,782 | OtherInvestmentsEOYAmt |
| Total Assets BOY | $43,233,820 | TotalAssetsBOYAmt |
| Total Assets EOY | $43,651,524 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $0 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $43,233,820 | RetainedEarningBOYAmt |
| Retained Earning EOY | $43,651,524 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $43,233,820 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $43,651,524 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $43,233,820 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $43,651,524 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $43,233,820 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $382,636 | ExcessRevenueOverExpensesAmt |
| Subtotal | $43,616,456 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $43,616,456 | TotNetAstOrFundBalancesEOYAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $35,068 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $35,068 | SubtotalAmt |
| Tax Based On Investment Income | $35,068 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $56,456 | EstimatedPlusOvpmtIncmTxAmt |
| Extsn Request Income Tax Paid | $25,000 | ExtsnRequestIncomeTaxPaidAmt |
| Total Payments And Credits | $81,456 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Overpayment | $46,388 | OverpaymentAmt |
| Applied To ES Tax | $46,388 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | CA | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Joe Erickson | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9497522100 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2 Upper Newport Plaza | AddressLine1Txt |
| City | Newport Beach | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92660 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (9 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| Joseph Erickson | ||||||
| 2 Upper Newport Plaza | Newport Beach | CA | 92660 | Admin. Trustee | 2.00 | $0 |
| Madeleine Myers Crane | ||||||
| 1253 23rd ST Apt 1 | Santa Monica | CA | 90404 | Trustee | 1.00 | $0 |
| Jay E Myers | ||||||
| 2 Upper Newport Plaza | Newport Beach | CA | 92660 | Chairman | 10.00 | $0 |
| Gideon Bernstein | ||||||
| 20 Tall Hedge | Irvine | CA | 92603 | Trustee | 1.00 | $0 |
| Nancy Chase | ||||||
| 129 W Wilson St | Costa Mesa | CA | 92627 | Trustee | 1.00 | $0 |
| Lisa Hofheimer | ||||||
| 342 South Irving Blvd | Los Angeles | CA | 90020 | Trustee | 1.00 | $0 |
| David Zarnow | ||||||
| 80 Grand Ave 211 | Carlsbad | CA | 92008 | Trustee | 5.00 | $0 |
| Dan Bernstein | ||||||
| 2 Upper Newport Plaza | Newport Beach | CA | 92660 | Trustee | 1.00 | $0 |
| Derek Gaushon | ||||||
| 2 Upper Newport Plaza | Newport Beach | CA | 92660 | Trustee | 1.00 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $96,761 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $43,369,348 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $43,466,109 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $43,466,109 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $651,992 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $42,814,117 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,140,706 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $2,140,706 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $35,068 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $35,068 | TotalTaxAmt |
| Distributable Before Adj | $2,105,638 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $2,105,638 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $2,105,638 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $2,119,931 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $2,119,931 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,105,638 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $2,089,712 | UndistributedIncomePYAmt |
| Qualifying Distributions | $2,119,931 | QualifyingDistributionsAmt |
| Applied To Year1 | $2,089,712 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $30,219 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $2,075,419 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jewish Community Foundation of OC | BusinessNameLine1Txt |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 Federation Way Suite 210 | AddressLine1Txt |
| City | Irvine | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92603 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Relationship | None | RecipientRelationshipTxt |
| Recipient Foundation Status | PC | RecipientFoundationStatusTxt |
| Grant Or Contribution Purpose | To Further Donee Organization's exempt purpose | GrantOrContributionPurposeTxt |
| Amt | $2,105,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $2,105,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $1,692 | RelatedOrExemptFunctionIncmAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Income from Partnerships | Desc |
| Related Or Exempt Function Incm | $2,536,143 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $2,537,835 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,537,835 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Accounting | CategoryTxt |
| Legal Fees | $2,490 | LegalFeesAmt |
| Net Investment Income | $2,490 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $2,490 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| Dues & Subscriptions | $1,199 | $1,199 | $1,199 |
| Office Expense | $9,889 | $9,889 | $9,889 |
| Travel | $1,353 | $1,353 | $1,353 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Income from Partnerships | Desc |
| Revenue And Expenses Per Books | $2,536,143 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $2,536,143 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $2,536,143 | AdjustedNetIncomeAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt |
|---|---|
| Federal Excise Tax | $35,068 |
| Registry of Charitable Trust | $200 |