CAVALLO FAMILY FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: CAVALLO FAMILY FOUNDATION (EIN 13-4149268)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-10-17
IRS object ID: 202222909349100602
Schema version: 2021v4.1
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
Investments Corp Stock Schedule
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-10-17T03:16:01-07:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	471849453	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	FOLLINI BENJAMIN & MOGLIA INC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	21 OLD MAIN ST STE 101	AddressLine1Txt
City	FISHKILL	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12524	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	134149268	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CAVALLO FAMILY FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	CAVA	BusinessNameControlTxt
Phone	8456417469	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	630 RUSSET ROAD	AddressLine1Txt
City	VALLEY COTTAGE	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10989	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	ERNEST CAVALLO	PersonNm
Person Title	TRUSTEE	PersonTitleTxt
Phone	8456417469	PhoneNum
Signature	2022-05-12	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	ERNEST	PersonFirstNm
Person Last	CAVALLO	PersonLastNm

Field	Value	IRS element (for citing)
SSN	XXX-XX-XXXX	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	ANDREW BECKER CPA	PreparerPersonNm
PTIN	P01284510	PTIN
Phone	8458972570	PhoneNum
Preparation	2022-10-17	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	3	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd
Federated Assurance Level	FAL1	FederatedAssuranceLevelCd

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	$632,560	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	$2	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$2	InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss	$30,784	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$30,784	DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss	$0	GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss	$0	OtherIncomeRevAndExpnssAmt
Total Rev And Expnss	$30,786	TotalRevAndExpnssAmt
Total Net Invst Incm	$30,786	TotalNetInvstIncmAmt
Legal Fees Rev And Expnss	$0	LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss	$850	AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps	$850	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$0	OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss	$198	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$198	TaxesNetInvstIncmAmt
Deprec And Dpltn Rev And Expnss	$0	DeprecAndDpltnRevAndExpnssAmt
Printing And Pub Rev And Expnss	$869	PrintingAndPubRevAndExpnssAmt
Printing And Pub Dsbrs Chrtbl	$869	PrintingAndPubDsbrsChrtblAmt
Other Expenses Rev And Expnss	$441	OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl	$441	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$2,358	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$198	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$2,160	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$26,810	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$26,810	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$29,168	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$198	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$28,970	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$1,618	ExcessRevenueOverExpensesAmt
Net Investment Income	$30,588	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Sav And Temp Cash Invst BOY	$23,884	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$1,938	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$1,938	SavAndTempCashInvstEOYFMVAmt
Rcvbl From Officers EOY	$0	RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY	$0	OtherNtsAndLoansRcvblEOYAmt
Corporate Stock BOY	$210,411	CorporateStockBOYAmt
Corporate Stock EOY	$233,975	CorporateStockEOYAmt
Corporate Stock EOYFMV	$630,622	CorporateStockEOYFMVAmt
Land Bldg Investments EOY	$0	LandBldgInvestmentsEOYAmt
Other Investments EOY	$0	OtherInvestmentsEOYAmt
Land EOY	$0	LandEOYAmt
Other Assets BOY	$0	OtherAssetsBOYAmt
Other Assets EOY	$0	OtherAssetsEOYAmt
Other Assets EOYFMV	$0	OtherAssetsEOYFMVAmt
Total Assets BOY	$234,295	TotalAssetsBOYAmt
Total Assets EOY	$235,913	TotalAssetsEOYAmt
Total Assets EOYFMV	$632,560	TotalAssetsEOYFMVAmt
Loans From Officers EOY	$0	LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY	$0	MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY	$0	OtherLiabilitiesBOYAmt
Other Liabilities EOY	$0	OtherLiabilitiesEOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$234,295	RetainedEarningBOYAmt
Retained Earning EOY	$235,913	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$234,295	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$235,913	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$234,295	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$235,913	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$234,295	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$1,618	ExcessRevenueOverExpensesAmt
Subtotal	$235,913	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$235,913	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$425	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$425	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$425	TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid	$0	ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits	$0	TotalPaymentsAndCreditsAmt
Original Return Tax Paid	$0	OriginalReturnTaxPaidAmt
Tax Due	$425	TaxDueAmt
Applied To ES Tax	$0	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
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
Individual With Books	ERNEST CAVALLO	IndividualWithBooksNm
Phone	8456417469	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	630 RUSSET RD	AddressLine1Txt
City	VALLEY COTTAGE	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10989	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	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
Proceeds Or Net Income	false	ProceedsOrNetIncomeInd

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
JOANN CAVALLO
48 HUFF TERRACE	MONTVALE	NJ	07645	TRUSTEE	1.00	$0	$0	$0
SUSAN CAVALLO KULIE
11 JEFFERSON DR EAST	GRANBY	CT	06035	TRUSTEE	1.00	$0	$0	$0
JAMES CAVALLO
29 ROCKFORD DRIVE WEST	NYACK	NY	10960	TRUSTEE	1.00	$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
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt
Expenses1	$0	Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt
Expenses1	$0	Expenses1Amt
Total	$0	TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$632,561	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$0	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$632,561	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast	$632,561	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$9,488	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$623,073	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$31,154	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$31,154	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$425	TaxBasedOnInvestmentIncomeAmt
Total Tax	$425	TotalTaxAmt
Distributable Before Adj	$30,729	DistributableBeforeAdjAmt
Distributable Before Ded	$30,729	DistributableBeforeDedAmt
Distributable As Adjusted	$30,729	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$28,970	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Qualifying Distributions	$28,970	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$30,729	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5	$0	ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4	$1,733	ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3	$1,066	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$0	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$1,540	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$4,339	TotalExcessDistributionCyovAmt
Qualifying Distributions	$28,970	QualifyingDistributionsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$28,970	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$0	RemainingDistriFromCorpusAmt
Total Corpus	$4,339	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$1,759	UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5	$0	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$4,339	ExcessDistriCyovToNextYrAmt
Excess From Year4	$1,733	ExcessFromYear4Amt
Excess From Year3	$1,066	ExcessFromYear3Amt
Excess From Year2	$0	ExcessFromYear2Amt
Excess From Year1	$1,540	ExcessFromYear1Amt
Excess From Current Year	$0	ExcessFromCurrentYearAmt

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 LIST	BusinessNameLine1Txt

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	SEE LIST	AddressLine1Txt
City	NEW CITY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10956	ZIPCd

Field	Value	IRS element (for citing)
Recipient Foundation Status	509A	RecipientFoundationStatusTxt
Grant Or Contribution Purpose	GENERAL OPERATIONS	GrantOrContributionPurposeTxt
Amt	$26,810	Amt

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$26,810	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$2	ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$30,784	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Exclusion	$30,786	ExclusionAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$30,786	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	ANDREW BECKER TAX	CategoryTxt
Amt	$850	Amt
Disbursements Charitable Prps	$850	DisbursementsCharitablePrpsAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
EXCHANGE TRADED FUNDS	$167,838	$538,590
MUTUAL FUNDS	$66,137	$92,032

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

Field	Value	IRS element (for citing)
Desc	OFFICE EXPENSE	Desc
Revenue And Expenses Per Books	$441	RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps	$441	DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	EXCISE TAX	CategoryTxt
Amt	$198	Amt
Net Investment Income	$198	NetInvestmentIncomeAmt