WHEAT FOUNDATION INC: Form 990PF, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- WHEAT FOUNDATION INC (EIN 20-1416734)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-08-14
- IRS object ID
- 202342269349101019
- 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
- Form 990-PF
- Schedule B
- Accounting Fees Schedule
- Investments Corp Stock Schedule
- Other Decreases Schedule
- Other Increases Schedule
- Other Professional Fees Schedule
- Substantial Contributors Sch
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-08-14T04:37:42-00:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 621813735 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Group Inc | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2451 Atrium Way Suite 300 | AddressLine1Txt |
| City | Nashville | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37214 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 201416734 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Wheat Foundation Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | WHEA | BusinessNameControlTxt |
| Phone | 7049968258 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1108 Mapesbury Lane | AddressLine1Txt |
| City | Waxhaw | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 281736855 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jason Beckert | PersonNm |
| Person Title | President | PersonTitleTxt |
| Phone | 7049968258 | PhoneNum |
| Signature | 2023-08-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Jason | PersonFirstNm |
| Person Last | Beckert | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Andrew D Payne EA | PreparerPersonNm |
| PTIN | P02188892 | PTIN |
| Phone | 6153619445 | PhoneNum |
| Preparation | 2023-08-14 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $284,787 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $37,730 | ContriRcvdRevAndExpnssAmt |
| Dividends Rev And Expnss | $3,273 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $3,273 | DividendsNetInvstIncmAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $41,003 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $3,273 | TotalNetInvstIncmAmt |
| Other Prof Fees Rev And Expnss | $65 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Dsbrs Chrtbl | $65 | OtherProfFeesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $65 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $65 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $14,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $14,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $14,065 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $14,065 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $26,938 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $3,273 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $3,163 | CashBOYAmt |
| Cash EOY | $7,820 | CashEOYAmt |
| Cash EOYFMV | $7,820 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $16,668 | SavAndTempCashInvstBOYAmt |
| Corporate Stock BOY | $110,118 | CorporateStockBOYAmt |
| Corporate Stock EOY | $276,967 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $276,967 | CorporateStockEOYFMVAmt |
| Total Assets BOY | $129,949 | TotalAssetsBOYAmt |
| Total Assets EOY | $284,787 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $284,787 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $129,949 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $284,787 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $129,949 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $284,787 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $129,949 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $284,787 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $129,949 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $26,938 | ExcessRevenueOverExpensesAmt |
| Other Increases | $242,172 | OtherIncreasesAmt |
| Subtotal | $399,059 | SubtotalAmt |
| Other Decreases | $114,272 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $284,787 | TotNetAstOrFundBalancesEOYAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $45 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $45 | SubtotalAmt |
| Tax Based On Investment Income | $45 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $445 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $445 | TotalPaymentsAndCreditsAmt |
| Original Return Tax Paid | $445 | OriginalReturnTaxPaidAmt |
| Overpayment | $400 | OverpaymentAmt |
| Applied To ES Tax | $400 | 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 | NC | 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 | None at this time. | WebsiteAddressTxt |
| Individual With Books | Jason M Beckert | IndividualWithBooksNm |
| Phone | 7049968258 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1108 Mapesbury Lane | AddressLine1Txt |
| City | Waxham | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28173 | 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 | Yes (true) | 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 (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| Jason Beckert | ||||||
| 1108 Mapesbury Ln | Waxhaw | NC | 28173 | President/Treasurer | 001.00 | $0 |
| Molly Beckert | ||||||
| 1108 Mapesbury Ln | Waxhaw | NC | 28173 | Secretary | 001.00 | $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 |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | The management and administrative costs incurred to operate the foundation, directly support, and are necessary to carry out the charitable programs and activities conducted by the foundation. | Description1Txt |
| Expenses1 | $65 | Expenses1Amt |
| Description2 | The organization makes charitable contributions to other qualifying charitable organizations. | Description2Txt |
| Expenses2 | $14,000 | Expenses2Amt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $279,773 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $19,291 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $299,064 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $299,064 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $4,486 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $294,578 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $14,729 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $14,729 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $45 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $45 | TotalTaxAmt |
| Distributable Before Adj | $14,684 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $14,684 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $14,684 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $14,065 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $14,065 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $14,684 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $13,550 | UndistributedIncomePYAmt |
| Qualifying Distributions | $14,065 | QualifyingDistributionsAmt |
| Applied To Year1 | $13,550 | AppliedToYear1Amt |
| Applied To Current Year | $515 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $14,169 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Jason Beckert | ContributingManagerNm |
| Contributing Manager | Molly Beckert | ContributingManagerNm |
| Shareholder Manager | Not applicable | ShareholderManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| St Ann Catholic Church | |||||||
| 3635 Park Road | Charlotte | NC | 28209 | None. | PC | Donation to domestically registered 501c3 organization. | $9,000 |
| Hands for Haiti | |||||||
| PO Box 49051 | Charlotte | NC | 28277 | None. | PC | Donation to domestically registered 501c3 organization. | $5,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $14,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $3,273 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $3,273 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $3,273 | 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 |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jason & Molly Beckert | BusinessNameLine1Txt |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1108 Mapesbury Ln | AddressLine1Txt |
| City | Waxhaw | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28173 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | $37,730 | TotalContributionsAmt |
| Noncash Contribution | Yes (X) | NoncashContributionInd |
Accounting Fees Schedule AccountingFeesSchedule
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | Publicly Traded Securities | StockNm |
| EOY Book Value | $276,967 | EOYBookValueAmt |
| EOYFMV | $276,967 | EOYFMVAmt |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Unrealized Losses Donation of Appreciated Stocks | Desc |
| Amt | $114,272 | Amt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Adjustment to Fair Market Value on 2021 Return | Desc |
| Amt | $242,172 | Amt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment Management Fees | CategoryTxt |
| Amt | $65 | Amt |
| Disbursements Charitable Prps | $65 | DisbursementsCharitablePrpsAmt |
Substantial Contributors Sch SubstantialContributorsSch
Substantial Contributor Detail SubstantialContributorDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jason Molly Beckert | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1108 Mapesbury Lane | AddressLine1Txt |
| City | Waxhaw | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28173 | ZIPCd |