LOISELLE FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: LOISELLE FOUNDATION INC (EIN 20-0707679)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-05-09
IRS object ID: 202201299349103135
Schema version: 2021v4.2
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
Accounting Fees Schedule
Investments Other Schedule2
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-05-09T16:24:08-04:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	352261108	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	Loiselle & Associates CPAs	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	865 South Main Suite 2	AddressLine1Txt
City	Plymouth	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48170	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2021-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	200707679	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	LOISELLE FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	LOIS	BusinessNameControlTxt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	865 SOUTH MAIN STE 2	AddressLine1Txt
City	PLYMOUTH	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48170	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JASON LOISELLE	PersonNm
Person Title	PRESIDENT	PersonTitleTxt
Phone	7344599970	PhoneNum
Signature	2022-04-26	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	LOISELLE	PersonLastNm

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Jason R Loiselle CPA	PreparerPersonNm
PTIN	P00578067	PTIN
Phone	7344599970	PhoneNum
Preparation	2022-05-09	PreparationDt
Self Employed	Yes (X)	SelfEmployedInd

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	0	TrustedCustomerCd
OOB Security Verification	00	OOBSecurityVerificationCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$401,485	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
Dividends Rev And Expnss	$19,280	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$19,280	DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss	$11,962	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$60,000	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$11,962	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$31,242	TotalRevAndExpnssAmt
Total Net Invst Incm	$31,242	TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss	$2,721	AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss	$324	TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$3,045	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$20,000	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$20,000	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$23,045	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$20,000	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$8,197	ExcessRevenueOverExpensesAmt
Net Investment Income	$31,242	NetInvestmentIncomeAmt
Adjusted Net Income	$0	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$55,936	CashBOYAmt
Cash EOY	$52,170	CashEOYAmt
Cash EOYFMV	$52,170	CashEOYFMVAmt
Other Investments BOY	$296,780	OtherInvestmentsBOYAmt
Other Investments EOY	$308,743	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$349,315	OtherInvestmentsEOYFMVAmt
Total Assets BOY	$352,716	TotalAssetsBOYAmt
Total Assets EOY	$360,913	TotalAssetsEOYAmt
Total Assets EOYFMV	$401,485	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$352,716	RetainedEarningBOYAmt
Retained Earning EOY	$360,913	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$352,716	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$360,913	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$352,716	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$360,913	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$352,716	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$8,197	ExcessRevenueOverExpensesAmt
Subtotal	$360,913	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$360,913	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDesc	AcquiredAcquiredDt	SoldSoldDt	Gross Sales PriceGrossSalesPriceAmt	Cost Or Other BasisCostOrOtherBasisAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
FTSDX FIDELITY ADVISOR STRATEGIC	2015-10-20	2021-10-07	$50,000	$39,440	$10,560	$10,560
FGRMX FIDELITY ADVISOR HIGH INCOME	2009-05-13	2021-10-07	$10,000	$8,598	$1,402	$1,402

Field	Value	IRS element (for citing)
Capital Gain Net Income	$11,962	CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$434	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$434	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$434	TaxBasedOnInvestmentIncomeAmt
Tax Due	$434	TaxDueAmt

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	FL	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
Individual With Books	JASON R LOISELLE	IndividualWithBooksNm
Phone	7344599970	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	865 SOUTH MAIN	AddressLine1Txt
City	PLYMOUTH	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48170	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
JASON R LOISELLE
865 SOUTH MAIN	PLYMOUTH	MI	48170	PRESIDENT	1.00	$0	$0	$0
RONALD G LOISELLE
865 SOUTH MAIN	PLYMOUTH	MI	48170	DIRECTOR	0.00	$0	$0	$0
LAWRENCE LOISELLE
6445 WHITBY	GARDEN CITY	MI	48135	VICE PRESIDENT SECRETARY	0.00	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$347,888	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$56,805	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$404,693	TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$404,693	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$6,070	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$398,623	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$19,931	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$19,931	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$434	TaxBasedOnInvestmentIncomeAmt
Total Tax	$434	TotalTaxAmt
Distributable Before Adj	$19,497	DistributableBeforeAdjAmt
Distributable Before Ded	$19,497	DistributableBeforeDedAmt
Distributable As Adjusted	$19,497	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$20,000	ExpensesAndContributionsAmt
Qualifying Distributions	$20,000	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$19,497	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr3	$44,097	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$22,663	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$16,061	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$82,821	TotalExcessDistributionCyovAmt
Qualifying Distributions	$20,000	QualifyingDistributionsAmt
Applied To Current Year	$19,497	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$503	RemainingDistriFromCorpusAmt
Total Corpus	$83,324	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$83,324	ExcessDistriCyovToNextYrAmt
Excess From Year3	$44,097	ExcessFromYear3Amt
Excess From Year2	$22,663	ExcessFromYear2Amt
Excess From Year1	$16,061	ExcessFromYear1Amt
Excess From Current Year	$503	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	LAWRENCE K LOISELLE	ContributingManagerNm
Contributing Manager	RONALD G LOISELLE	ContributingManagerNm
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
PLYMOUTH CHRISTIAN ACADEMY
43065 JOY RD	CANTON	MI	48187	NONE	PC	SUPPORT OF EDUCATION AND THE ARTS	$15,000
FIRST UNITED METHODIST CHURCH PLY
45201 N TERRITORIAL RD	PLYMOUTH	MI	48170	NONE	PC	SUPPORT CHRISTIAN EDUCATION AND THE ARTS	$5,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$20,000	TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut	$0	TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Business	900001	BusinessCd
Unrelated Business Taxbl Incm	$19,279	UnrelatedBusinessTaxblIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$19,279	UnrelatedBusinessTaxblIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$19,279	TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Field	Value	IRS element (for citing)
Line Number	04	LineNumberTxt
Relationship Statement	INVESTMENT INCOME IS DISTRIBUTED TO SUPPORT EDUCATION	RelationshipStatementTxt

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

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	ACCOUNTING FEES	CategoryTxt
Amt	$2,721	Amt
Net Investment Income	$0	NetInvestmentIncomeAmt
Adjusted Net Income	$0	AdjustedNetIncomeAmt
Disbursements Charitable Prps	$0	DisbursementsCharitablePrpsAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (5 entries)

Category Or ItemCategoryOrItemTxt	Book ValueBookValueAmt	EOYFMVEOYFMVAmt
FIDELITY ADVISOR HIGH INCOME FUND	$42,014	$46,322
FIDELTY ADVISOR STRATEGIC INCOME FD	$139,214	$143,761
FIDELITY ADVISOR NEW INSIGHTS FD	$27,301	$39,589
FIDELITY ADVISOR STRATEGIC DIVIDEND	$40,214	$57,829
FIDELITY ADVISOR MULTI ASSET INCOME	$60,000	$61,814

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	FEDERAL TAXES	CategoryTxt
Amt	$324	Amt
Net Investment Income	$0	NetInvestmentIncomeAmt
Adjusted Net Income	$0	AdjustedNetIncomeAmt
Disbursements Charitable Prps	$0	DisbursementsCharitablePrpsAmt