OFFIELD FAMILY FOUNDATION: Form 990PF, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- OFFIELD FAMILY FOUNDATION (EIN 36-6066240)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2022-07-29
- IRS object ID
- 202212109349100426
- Schema version
- 2020v4.1
- 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
- Accounting Fees Schedule
- All Oth Prog Rltd Investments Sch
- Depreciation Schedule
- Investments Corp Stock Schedule
- Investments Other Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Reasonable Cause Explanation
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-07-29T17:55:59-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 OTTAWA AVE NW STE 300 | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49503 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 366066240 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Offield Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % BDO USA LLP | InCareOfNm |
| Business Name Control | OFFI | BusinessNameControlTxt |
| Phone | 3123248425 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1105 | AddressLine1Txt |
| City | Chicago | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60690 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | James Offield | PersonNm |
| Person Title | PRESIDENT & TREASURE | PersonTitleTxt |
| Phone | 6167747000 | PhoneNum |
| Signature | 2022-07-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | James | PersonFirstNm |
| Person Last | Offield | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KELLI OLSON | PreparerPersonNm |
| PTIN | P01379656 | PTIN |
| Phone | 6167747000 | PhoneNum |
| Preparation | 2022-07-28 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | 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 | $106,762,304 | 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 | $0 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $2,032,638 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,032,638 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $30,549 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $16,317,801 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $30,549 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | -$9,401 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $10,902 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $2,053,786 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,074,089 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Legal Fees Rev And Expnss | $70,966 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $70,966 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $27,776 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $13,888 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $13,888 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $427,323 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $427,323 | OtherProfFeesNetInvstIncmAmt |
| Taxes Rev And Expnss | $92,196 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $37,181 | TaxesNetInvstIncmAmt |
| Deprec And Dpltn Rev And Expnss | $6,726 | DeprecAndDpltnRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $624,987 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $478,392 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $84,854 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $5,000,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $4,800,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $5,624,987 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $478,392 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $4,884,854 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$3,571,201 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $1,595,697 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $145,836 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $289,151 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $289,151 | SavAndTempCashInvstEOYFMVAmt |
| Corporate Stock BOY | $66,396,561 | CorporateStockBOYAmt |
| Corporate Stock EOY | $63,975,730 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $83,859,936 | CorporateStockEOYFMVAmt |
| Other Investments BOY | $18,432,954 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $16,910,195 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $22,202,545 | OtherInvestmentsEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $262,310 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $87,438 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $181,598 | LandBOYAmt |
| Land EOY | $174,872 | LandEOYAmt |
| Land EOYFMV | $174,872 | LandEOYFMVAmt |
| Other Assets BOY | $0 | OtherAssetsBOYAmt |
| Other Assets EOY | $235,800 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $235,800 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $85,156,949 | TotalAssetsBOYAmt |
| Total Assets EOY | $81,585,748 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $106,762,304 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $85,156,949 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $81,585,748 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $85,156,949 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $81,585,748 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $85,156,949 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $81,585,748 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $85,156,949 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$3,571,201 | ExcessRevenueOverExpensesAmt |
| Subtotal | $81,585,748 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $81,585,748 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | PUBLICLY TRADED SECURITIES | PropertyDesc |
| Gross Sales Price | $16,317,801 | GrossSalesPriceAmt |
| Cost Or Other Basis | $16,287,252 | CostOrOtherBasisAmt |
| Gain Or Loss | $30,549 | GainOrLossAmt |
| Gains Minus Excess Or Losses | $30,549 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $30,549 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $22,180 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $22,180 | SubtotalAmt |
| Tax Based On Investment Income | $22,180 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $35,338 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Total Payments And Credits | $35,338 | TotalPaymentsAndCreditsAmt |
| Overpayment | $13,158 | OverpaymentAmt |
| Applied To ES Tax | $13,158 | 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 | IL | 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 | BDO USA LLP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6167747000 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 OTTAWA AVE NW STE 300 | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49503 | 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 |
| 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 | Yes (true) | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | Yes (true) | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | Yes (true) | MaintainedExpenditureRspnsInd |
| 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 (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 |
|---|---|---|---|---|---|---|---|---|
| James S Offield | ||||||||
| PO BOX 1105 | Chicago | IL | 60690 | President, Treasurer, Director | 1.0 | $0 | $0 | $0 |
| Meighan Offield | ||||||||
| PO BOX 1105 | Chicago | IL | 60690 | Secretary, Director | 1.0 | $0 | $0 | $0 |
| Calen Offield | ||||||||
| PO BOX 1105 | CHICAGO | IL | 60690 | VICE PRESIDENT, Director | 1.0 | $0 | $0 | $0 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| GOLDMAN SACHS & CO LLC | |||||
| 71 S WACKER DR SUITE 300 | CHICAGO | IL | 60606 | MONEY MANAGEMENT | $427,323 |
| PERKINS COIE LLP | |||||
| 131 S DEARBORN ST SUITE 1700 | CHICAGO | IL | 60603 | LEGAL SERVICES | $70,966 |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | NONE | Description1Txt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $95,142,561 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $1,051,441 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $410,672 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $96,604,674 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $96,604,674 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $1,449,070 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $95,155,604 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $4,757,780 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $4,757,780 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $22,180 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $22,180 | TotalTaxAmt |
| Distributable Before Adj | $4,735,600 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $4,735,600 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $4,735,600 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $4,884,854 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $4,884,854 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $0 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $4,884,854 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $4,735,600 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $0 | UndistributedIncomePYAmt |
| Prior Year1 | 2018 | PriorYear1Yr |
| Prior Year2 | 2017 | PriorYear2Yr |
| Prior Year3 | 2016 | PriorYear3Yr |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Excess Distribution Cyov Yr5 | $2,508,068 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $1,071,295 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $308,580 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $441,538 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $87,384 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $4,416,865 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $4,884,854 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Applied To Current Year | $4,735,600 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $149,254 | RemainingDistriFromCorpusAmt |
| Total Corpus | $4,566,119 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $2,508,068 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $2,058,051 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $1,071,295 | ExcessFromYear4Amt |
| Excess From Year3 | $308,580 | ExcessFromYear3Amt |
| Excess From Year2 | $441,538 | ExcessFromYear2Amt |
| Excess From Year1 | $87,384 | ExcessFromYear1Amt |
| Excess From Current Year | $149,254 | ExcessFromCurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Foundations | PrivateOperatingFoundationsGrp |
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 | SEE ATTACHED SCHEDULE | BusinessNameLine1Txt |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | SEE ATTACHED SCHEDULE | AddressLine1Txt |
| City | SEE ATTACHED SCHEDULE | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49503 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Foundation Status | PC | RecipientFoundationStatusTxt |
| Grant Or Contribution Purpose | SEE ATTACHED SCHEDULE | GrantOrContributionPurposeTxt |
| Amt | $5,000,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $5,000,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp | |
| Int On Sav And Temp Cash Invst | IntOnSavAndTempCashInvstGrp |
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,032,638 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Incm Part VII | OtherInvestmentIncmPartVIIGrp |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $30,549 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME (LOSS) | Desc |
| Exclusion | 14 | ExclusionCd |
| Exclusion | -$9,401 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $2,053,786 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,053,786 | 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 |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | BDO USA, LLP | CategoryTxt |
| Amt | $27,776 | Amt |
| Net Investment Income | $13,888 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $13,888 | DisbursementsCharitablePrpsAmt |
All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch
All Other Program Related Invst AllOtherProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NONE | Desc |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | LEASEHOLD IMPROVE | PropertyDesc |
| Cost Or Other Basis | $262,310 | CostOrOtherBasisAmt |
| Prior Year Depreciation | $80,712 | PriorYearDepreciationAmt |
| Computation Method | M39 | ComputationMethodTxt |
| Current Year Expense | $6,726 | CurrentYearExpenseAmt |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| GOLDMAN SACHS FIXED INCOME | $17,602,585 | $17,946,331 |
| GOLDMAN SACHS PUBLIC EQUITY | $46,373,123 | $65,913,606 |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (3 entries)
| Category Or ItemCategoryOrItemTxt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| FLAG VIII - ABERDEEN | $32,740 | $3,091,535 |
| PESOF, LP | $4,317,279 | $5,294,368 |
| GOLDMAN SACHS OTHER INVESTMENT | $12,560,176 | $13,816,642 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | PERKINS COIE | CategoryTxt |
| Legal Fees | $70,966 | LegalFeesAmt |
| Disbursements Charitable Prps | $70,966 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE FROM PESOF | Desc |
| BOY Book Value | $0 | BOYBookValueAmt |
| EOY Book Value | $235,800 | EOYBookValueAmt |
| EOYFMV | $235,800 | EOYFMVAmt |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME (LOSS) | Desc |
| Revenue And Expenses Per Books | -$9,401 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $10,902 | NetInvestmentIncomeAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | GOLDMAN SACHS | CategoryTxt |
| Amt | $427,323 | Amt |
| Net Investment Income | $427,323 | NetInvestmentIncomeAmt |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | Dear Sir/Madam: Your notice dated July 20, 2022 (copy enclosed) has been forwarded by the above-referenced taxpayer to our office for reply. The notice states that the 2020 Form 990-PF is being returned as it was not submitted electronically. The taxpayer timely filed the 2020 Form 990-PF by mail on November 15, 2021 after requesting an extension and submitting payment for any taxes due on May 15, 2021. Enclosed is a copy of the certified mailing receipt to support this. The taxpayer is a private family foundation and has acted in good faith at all times. It is important to note the taxpayer is a not-for profit entity that struggles to achieve positive operating results. Any monies that it cannot use for such assistance would harm the environmental research and conservation for marine life community it largely serves; a penalty of this magnitude would create financial hardship for the taxpayer and the recipients of their grants. It was believed the foundation was in compliance with its federal tax filing obligation until recently when the notice was received. All amounts owed were timely remitted by the original May 15, 2021 due date. The late electronic filing was not intentional or due to willful neglect. To the contrary, the taxpayer was unaware of the noncompliance and acted promptly to electronically file the return as soon as they were informed to do so. We respectfully request a full abatement of any penalties incurred, as the return has been electronically submitted within the requested time frame of 10 days from the notice date. If you have any questions or require additional information, please feel free to contact me at 616-774-7000. Very truly yours, BDO USA, LLP Kelli Olson, CPA | ExplanationTxt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| FOREIGN TAXES WITHHELD | $37,181 | $37,181 |
| FEDERAL EXCISE TAXES | $55,015 |