KARVE CHARITABLE FOUNDATION INC: Form 990PF, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- KARVE CHARITABLE FOUNDATION INC (EIN 59-2849765)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-04-15
- IRS object ID
- 202101059349100220
- Schema version
- 2020v4.0
- 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
- Accounting Fees Schedule
- Gain Loss Sale Other Assets Sch
- Land Etc Schedule2
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-04-15T10:57:26-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 592821520 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEFFREY L SAILOR CPA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 759 | AddressLine1Txt |
| City | OCALA | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34478 | 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 | 592849765 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KARVE CHARITABLE FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | KARV | BusinessNameControlTxt |
| Phone | 3522373084 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2091 SW 55TH STREET RD | AddressLine1Txt |
| City | OCALA | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34471 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NR KARVE | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 3522373084 | PhoneNum |
| Signature | 2021-04-14 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | NANDKUMAR | PersonFirstNm |
| Person Last | KARVE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JEFFREY L SAILOR | PreparerPersonNm |
| PTIN | P01030677 | PTIN |
| Phone | 3523513310 | PhoneNum |
| Preparation | 2021-04-12 | PreparationDt |
| 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 | $269,070 | 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 | $2,359 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,359 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $2,359 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $12,710 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $38,257 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $10,757 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $15,069 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $13,116 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $2,359 | TotalAdjNetIncmAmt |
| Accounting Fees Rev And Expnss | $500 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $500 | AccountingFeesNetInvstIncmAmt |
| Taxes Rev And Expnss | $207 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $207 | TaxesNetInvstIncmAmt |
| Occupancy Rev And Expnss | $8,340 | OccupancyRevAndExpnssAmt |
| Occupancy Net Invst Incm | $8,340 | OccupancyNetInvstIncmAmt |
| Trav Conf Meeting Rev And Expnss | $1,736 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Net Invst Incm | $1,736 | TravConfMeetingNetInvstIncmAmt |
| Printing And Pub Rev And Expnss | $39 | PrintingAndPubRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $10,822 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $10,783 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $23,761 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $23,761 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $34,583 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $10,783 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $23,761 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$19,514 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,333 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $2,359 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $278,584 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $259,070 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $259,070 | SavAndTempCashInvstEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $24,730 | LandBldgEquipCostOrOtherBssAmt |
| Land BOY | $24,730 | LandBOYAmt |
| Land EOY | $24,730 | LandEOYAmt |
| Land EOYFMV | $10,000 | LandEOYFMVAmt |
| Total Assets BOY | $303,314 | TotalAssetsBOYAmt |
| Total Assets EOY | $283,800 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $269,070 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $303,314 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $283,800 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $303,314 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $283,800 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $303,314 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $283,800 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $303,314 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$19,514 | ExcessRevenueOverExpensesAmt |
| Subtotal | $283,800 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $283,800 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $10,757 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $32 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $32 | SubtotalAmt |
| Tax Based On Investment Income | $32 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $32 | 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 |
| 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 | NR KARVE | IndividualWithBooksNm |
| Phone | 3522373084 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2091 SW 55TH ST RD | AddressLine1Txt |
| City | OCALA | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34471 | 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 |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NR KARVE | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2091 SW 55TH ST RD | AddressLine1Txt |
| City | OCALA | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34471 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | PRESIDENT | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 0.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Employee Benefit Program | $0 | EmployeeBenefitProgramAmt |
| Expense Account Other Allwnc | $0 | ExpenseAccountOtherAllwncAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $269,327 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $0 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $10,000 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $279,327 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $279,327 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $4,190 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $275,137 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $13,757 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $13,757 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $32 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $32 | TotalTaxAmt |
| Distributable Before Adj | $13,725 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $13,725 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $13,725 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $23,761 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $23,761 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $23,761 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $13,725 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr5 | $4,000 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr3 | $6,187 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $27,182 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $12,363 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $49,732 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $23,761 | QualifyingDistributionsAmt |
| Applied To Current Year | $13,725 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $10,036 | RemainingDistriFromCorpusAmt |
| Total Corpus | $59,768 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $4,000 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $55,768 | ExcessDistriCyovToNextYrAmt |
| Excess From Year3 | $6,187 | ExcessFromYear3Amt |
| Excess From Year2 | $27,182 | ExcessFromYear2Amt |
| Excess From Year1 | $12,363 | ExcessFromYear1Amt |
| Excess From Current Year | $10,036 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (8 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|
| EKALVIDYALAYS | |||||
| 1 | OCALA | FL | 34471 | SOCIAL SERVICES | $3,650 |
| ST JUDE HOSPITAL | |||||
| 1 | OCALA | FL | 34471 | HEALTH | $500 |
| CORNERSTOME SCHOOL | |||||
| 1 | OCALA | FL | 34471 | EDUCATION | $15,086 |
| MISC | |||||
| 1 | OCALA | FL | 34471 | SOCIAL | $875 |
| GOODWILL | |||||
| 1 | OCALA | FL | 34471 | DEVELOPMENT | $1,500 |
| WORLD KITCHEN | |||||
| 1 | OCALA | FL | 34471 | POOR | $500 |
| RODEHEAVER BOYS RANCH | |||||
| 1 | OCALA | FL | 34471 | SOCIAL | $1,400 |
| ROYAL DAMES | |||||
| 1 | OCALA | FL | 34471 | CANCER | $250 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $23,761 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $2,359 | RelatedOrExemptFunctionIncmAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $12,710 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $15,069 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $15,069 | 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 | INDIRECT ACCOUNTING FEES | CategoryTxt |
| Amt | $500 | Amt |
| Net Investment Income | $500 | NetInvestmentIncomeAmt |
Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch
Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (2 entries)
| AssetAssetDesc | AcquiredAcquiredDt | How AcquiredHowAcquiredTxt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | BasisBasisAmt | Total NetTotalNetAmt |
|---|---|---|---|---|---|---|
| AMERICAN MUTUAL A | 2016-12 | PURCHASE | 2020-12 | $15,000 | $14,116 | $884 |
| AMERICAN FUNDAMENTAL INV | 2016-12 | PURCHASE | 2020-12 | $12,500 | $11,431 | $1,069 |
Land Etc Schedule2 LandEtcSchedule2
Land Etc LandEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category Or Item | LAND | CategoryOrItemTxt |
| Cost Or Other Basis | $24,730 | CostOrOtherBasisAmt |
| Book Value | $24,730 | BookValueAmt |
| EOYFMV | $10,000 | EOYFMVAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | INDIRECT TAXES/LICENSES | CategoryTxt |
| Amt | $207 | Amt |
| Net Investment Income | $207 | NetInvestmentIncomeAmt |