PETRO FAMILY FOUNDATION INC: Form 990PF, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- PETRO FAMILY FOUNDATION INC (EIN 52-2373545)
- Tax period
- 2019-07-01 to 2020-06-30
- Filed
- 2021-01-25
- IRS object ID
- 202120259349100702
- Schema version
- 2019v5.0
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-01-25T11:11:43-06:00 | ReturnTs |
| Tax Period End | 2020-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 592858029 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BARO BAGWELL & COMPANY CPAS PA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1900 BOOTHE CIR STE 104 | AddressLine1Txt |
| City | LONGWOOD | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 327506751 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2019-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 522373545 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETRO FAMILY FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PETR | BusinessNameControlTxt |
| Phone | 4076540155 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 13506 SUMMERPORT VILLAGE PKWY 535 | AddressLine1Txt |
| City | WINDERMERE | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34786 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NATALIE WALLACE | PersonNm |
| Person Title | SECRETARY | PersonTitleTxt |
| Phone | 4093992404 | PhoneNum |
| Signature | 2021-01-25 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOANNE M MCCARTER CPA | PreparerPersonNm |
| PTIN | P01651687 | PTIN |
| Phone | 4076471717 | PhoneNum |
| Preparation | 2021-01-25 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | 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 | $735,035 | 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 | $825 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $825 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $825 | InterestOnSavingsAdjNetIncmAmt |
| Dividends Rev And Expnss | $2,126 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $2,126 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $2,126 | DividendsAdjNetIncmAmt |
| Total Rev And Expnss | $2,951 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,951 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $2,951 | TotalAdjNetIncmAmt |
| Accounting Fees Rev And Expnss | $1,991 | AccountingFeesRevAndExpnssAmt |
| Taxes Rev And Expnss | $27 | TaxesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $2,018 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $2,018 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $0 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $933 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,951 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $2,951 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $449,053 | CashBOYAmt |
| Cash EOY | $449,986 | CashEOYAmt |
| Cash EOYFMV | $449,986 | CashEOYFMVAmt |
| US Government Obligations BOY | $124,354 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $124,354 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $285,049 | USGovtObligationsEOYFMVAmt |
| Total Assets BOY | $573,407 | TotalAssetsBOYAmt |
| Total Assets EOY | $574,340 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $735,035 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $573,407 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $574,340 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $573,407 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $574,340 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $573,407 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $574,340 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $573,407 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $933 | ExcessRevenueOverExpensesAmt |
| Subtotal | $574,340 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $574,340 | TotNetAstOrFundBalancesEOYAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $86,000 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $447,929 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.191995 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $59,700 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $313,288 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.190559 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $57,200 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $228,390 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.250449 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $43,700 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $232,101 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.188280 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $39,800 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $256,395 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.155229 | DistributionYr5Rt |
| Total Distribution | 0.976512 | TotalDistributionRt |
| Average Distribution | 0.195302 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $698,480 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $136,415 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $30 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $136,445 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $0 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $59 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $59 | SubtotalAmt |
| Tax Based On Investment Income | $59 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $59 | 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 |
| Website Address | N/A | WebsiteAddressTxt |
| Individual With Books | NATALIE WALLACE | IndividualWithBooksNm |
| Phone | 4073992404 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 13506 SUMMERPORT VILLAGE PKWY 535 | AddressLine1Txt |
| City | WINDERMERE | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 34786 | 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 (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 |
|---|---|---|---|---|---|---|---|---|
| TONIA BATCHELOR | ||||||||
| 8951 BONITA BEACH RD STE 525-308 | BONITA SPRINGS | FL | 34135 | PRESIDENT | 000.00 | $0 | $0 | $0 |
| NATALIE WALLACE | ||||||||
| 13506 SUMMERPORT VILLAGE PKWY 535 | WINDERMERE | FL | 34786 | SECRETARY | 000.00 | $0 | $0 | $0 |
| THOMAS PETRO | ||||||||
| 565 CASCADING CREEK LANE | WINTER GARDEN | FL | 34787 | VICE PRESIDE | 000.00 | $0 | $0 | $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 |
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 | $259,293 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $449,824 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $709,117 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $709,117 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $10,637 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $698,480 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $34,924 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $34,924 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $59 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $59 | TotalTaxAmt |
| Distributable Before Adj | $34,865 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $34,865 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $34,865 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $0 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $0 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $34,865 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr5 | $27,021 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $32,131 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $45,808 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $44,072 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $63,667 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $212,699 | TotalExcessDistributionCyovAmt |
| Excess Distri Cyov App CY Corpus | $34,865 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $34,865 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $177,834 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $177,834 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $24,287 | ExcessFromYear4Amt |
| Excess From Year3 | $45,808 | ExcessFromYear3Amt |
| Excess From Year2 | $44,072 | ExcessFromYear2Amt |
| Excess From Year1 | $63,667 | ExcessFromYear1Amt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $825 | RelatedOrExemptFunctionIncmAmt |
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $2,126 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $2,951 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,951 | TotalIncomeProducingActyAmt |
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp (2 entries)
| Line NumberLineNumberTxt | Relationship StatementRelationshipStatementTxt |
|---|---|
| 3 | INVESTMENT OF INITIAL FUNDS TO ACCUMULATE ADDITIONAL AMOUNTS TO BE DISTRIBUTED TO ORGANIZATIONS THAT HAVE CHARITABLE, EDUCATIONAL, RELIGIOUS, SCIENTIFIC OR OTHER NONPROFIT GOALS OR MOTIVES |
| 4 | INVESTMENT OF INITIAL FUNDS TO ACCUMULATE ADDITIONAL AMOUNTS TO BE DISTRIBUTED TO ORGANIZATIONS THAT HAVE CHARITABLE, EDUCATIONAL, RELIGIOUS, SCIENTIFIC OR OTHER NON PROFIT GOALS OR MOTIVES |
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 | $1,991 | Amt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LICENSES & PERMITS | CategoryTxt |
| Amt | $27 | Amt |