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HESTER FAMILY FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
HESTER FAMILY FOUNDATION (EIN 88-4350044)
Tax period
2022-12-02 to 2022-12-31
Filed
2023-05-15
IRS object ID
202321359349101447
Schema version
2022v5.0
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)
Return2023-05-15T09:03:55-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BDO USA LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12600 WEST BIG BEAVER SUITE 600AddressLine1Txt
CityTROYCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48084ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-12-02TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN884350044EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HESTER FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% WALTER HESTERInCareOfNm
Business Name ControlHESTBusinessNameControlTxt
Phone9727016028PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1759 BURGUNDY RDAddressLine1Txt
CityINCLINE VILLAGECityNm
State AbbreviationNVStateAbbreviationCd
ZIP89451ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFRANK WYATTPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone9727016028PhoneNum
Signature2023-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstFRANKPersonFirstNm
Person LastWYATTPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonAstrid BraeuerPreparerPersonNm
PTINP00328071PTIN
Phone2483622100PhoneNum
Preparation2023-05-14PreparationDt

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Initial ReturnYes (X)InitialReturnInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$7,224,476FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$5,563,519ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$1,619InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,619InterestOnSavNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$2,726,072NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$8,197,404GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$2,726,072CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$8,291,210TotalRevAndExpnssAmt
Total Net Invst Incm$2,727,691TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,100,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,100,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,100,000TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,100,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$7,191,210ExcessRevenueOverExpensesAmt
Net Investment Income$2,727,691NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY$7,099,023CashEOYAmt
Cash EOYFMV$7,100,645CashEOYFMVAmt
Corporate Stock EOY$92,187CorporateStockEOYAmt
Corporate Stock EOYFMV$123,831CorporateStockEOYFMVAmt
Total Assets BOY$0TotalAssetsBOYAmt
Total Assets EOY$7,191,210TotalAssetsEOYAmt
Total Assets EOYFMV$7,224,476TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning EOY$7,191,210RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$0TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$7,191,210TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$0TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$7,191,210TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$0TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$7,191,210ExcessRevenueOverExpensesAmt
Subtotal$7,191,210SubtotalAmt
Tot Net Ast Or Fund Balances EOY$7,191,210TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyGOLDMAN SACHS 42385-8 LTPropertyDesc
Acquired2021-12-31AcquiredDt
Sold2022-12-31SoldDt
Gross Sales Price$8,197,404GrossSalesPriceAmt
Cost Or Other Basis$5,471,332CostOrOtherBasisAmt
Gain Or Loss$2,726,072GainOrLossAmt
Gains Minus Excess Or Losses$2,726,072GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$2,726,072CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$37,915InvestmentIncomeExciseTaxAmt
Subtotal$37,915SubtotalAmt
Tax Based On Investment Income$37,915TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$37,915TaxDueAmt

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 SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNVOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1WALTER HESTERBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9727016028PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1759 BURGUNDY RDAddressLine1Txt
CityINCLINE VILLAGECityNm
State AbbreviationNVStateAbbreviationCd
ZIP89451ZIPCd
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
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
WATLER F HESTER III
759 BURGUNDY RDINCLINE VILLAGENV89451DIRECTOR0.0$0$0$0
RACHEL ANNE HAMILTON
759 BURGUNDY RDINCLINE VILLAGENV89451DIRECTOR0.0$0$0$0
FRANK BURKHEAD WYATT II
12248 SE BIRKDALE RUNJUPITERFL33469DIRECTOR0.0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$123,208AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$3,549,511AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,672,719TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$3,672,719AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$55,091CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,617,628NetVlNoncharitableAssetsAmt
Minimum Investment Return$14,867MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$14,867MinimumInvestmentReturnAmt
Tax Based On Investment Income$37,915TaxBasedOnInvestmentIncomeAmt
Total Tax$37,915TotalTaxAmt
Distributable Before Adj$0DistributableBeforeAdjAmt
Distributable Before Ded$0DistributableBeforeDedAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,100,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$1,100,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Prior Year12020PriorYear1Yr
Prior Year22019PriorYear2Yr
Prior Year32018PriorYear3Yr
Qualifying Distributions$1,100,000QualifyingDistributionsAmt
Applied To Current Year$0AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,100,000RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$1,100,000TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,100,000ExcessDistriCyovToNextYrAmt
Excess From Current Year$1,100,000ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonWALTER HESTER IIIRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1759 BURGUNDY RDAddressLine1Txt
CityINCLINE VILLAGECityNm
State AbbreviationNVStateAbbreviationCd
ZIP89451ZIPCd
FieldValueIRS element (for citing)
Recipient Phone9727016028RecipientPhoneNum

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtAddress Line2RecipientUSAddress/AddressLine2TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
The Joe Torre Safe at Home Foundation
55 West 39th StreetSuite 600New YorkNY10018PCHealing Services and Education$1,000,000
Lake Tahoe School
995 Tahoe BlvdIncline VillageNV89451PCEducational Programs$100,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,100,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$1,619UnrelatedBusinessTaxblIncmAmt
FieldValueIRS element (for citing)
Dividends And Interest From Sec DtlDividendsAndInterestFromSecDtl
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$2,726,072UnrelatedBusinessTaxblIncmAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$2,727,691UnrelatedBusinessTaxblIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$2,727,691TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonWALTER HESTER IIIContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1759 BURGUNDY RDAddressLine1Txt
CityINCLINE VILLAGECityNm
State AbbreviationNVStateAbbreviationCd
ZIP89451ZIPCd
FieldValueIRS element (for citing)
Total Contributions$5,563,519TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp (2 entries)

ContributorContributorNumNoncash PropertyNoncashPropertyDescFair Market ValueFairMarketValueAmtReceivedReceivedDt
1Marketable Securities$8,197,4042022-12-22
2Marketable Securities$122,3012022-12-23

Depreciation Schedule DepreciationSchedule

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonWALTER HESTER IIIPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1759 BURGUNDY RDAddressLine1Txt
CityINCLINE VILLAGECityNm
State AbbreviationNVStateAbbreviationCd
ZIP89451ZIPCd