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PETRO FAMILY FOUNDATION INC: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
PETRO FAMILY FOUNDATION INC (EIN 52-2373545)
Tax period
2018-07-01 to 2019-06-30
Filed
2020-01-09
IRS object ID
202020099349100502
Schema version
2018v3.2
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 ReturnHeader

FieldValueIRS element (for citing)
Return2020-01-09T14:36:25-06:00ReturnTs
Tax Period End2019-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN592858029PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BARO BAGWELL & COMPANY CPAS PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11900 BOOTHE CIR STE 104AddressLine1Txt
CityLONGWOODCityNm
State AbbreviationFLStateAbbreviationCd
ZIP327506751ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN522373545EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PETRO FAMILY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPETRBusinessNameControlTxt
Phone4076540155PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line113506 SUMMERPORT VILLAGE PKWY 535AddressLine1Txt
CityWINDERMERECityNm
State AbbreviationFLStateAbbreviationCd
ZIP34786ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonNATALIE WALLACEPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone4093992404PhoneNum
Signature2020-01-09SignatureDt

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJOANNE M MCCARTER CPAPreparerPersonNm
PTINP01651687PTIN
Phone4076471717PhoneNum
Preparation2020-01-09PreparationDt
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$701,184FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$392,422ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$1,122InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,122InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$1,122InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$2,050DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,050DividendsNetInvstIncmAmt
Dividends Adj Net Incm$2,050DividendsAdjNetIncmAmt
Total Rev And Expnss$395,594TotalRevAndExpnssAmt
Total Net Invst Incm$3,172TotalNetInvstIncmAmt
Total Adj Net Incm$3,172TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$2,580AccountingFeesRevAndExpnssAmt
Other Expenses Rev And Expnss$150OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$2,730TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$86,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$86,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$88,730TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$86,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$306,864ExcessRevenueOverExpensesAmt
Net Investment Income$3,172NetInvestmentIncomeAmt
Adjusted Net Income$3,172AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$142,189CashBOYAmt
Cash EOY$449,053CashEOYAmt
Cash EOYFMV$449,053CashEOYFMVAmt
US Government Obligations BOY$124,354USGovernmentObligationsBOYAmt
US Government Obligations EOY$124,354USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV$252,131USGovtObligationsEOYFMVAmt
Total Assets BOY$266,543TotalAssetsBOYAmt
Total Assets EOY$573,407TotalAssetsEOYAmt
Total Assets EOYFMV$701,184TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$266,543UnrestrictedBOYAmt
Unrestricted EOY$573,407UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$266,543TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$573,407TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$266,543TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$573,407TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$266,543TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$306,864ExcessRevenueOverExpensesAmt
Subtotal$573,407SubtotalAmt
Tot Net Ast Or Fund Balances EOY$573,407TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$59,700AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$313,288NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.190559DistributionYr1Rt
Adjusted Qlfy Distri Yr2$57,200AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$228,390NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.250449DistributionYr2Rt
Adjusted Qlfy Distri Yr3$43,700AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$232,101NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.188280DistributionYr3Rt
Adjusted Qlfy Distri Yr4$39,800AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$256,395NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.155229DistributionYr4Rt
Adjusted Qlfy Distri Yr5$31,500AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$158,671NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.198524DistributionYr5Rt
Total Distribution0.983041TotalDistributionRt
Average Distribution0.196608AverageDistributionRt
Net Vl Noncharitable Assets$447,929NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$88,066AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$32NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$88,098AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$86,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$63InvestmentIncomeExciseTaxAmt
Subtotal$63SubtotalAmt
Tax Based On Investment Income$63TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$36EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$36TotalPaymentsAndCreditsAmt
Tax Due$27TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateFLOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksNATALIE WALLACEIndividualWithBooksNm
Phone4073992404PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line113506 SUMMERPORT VILLAGE PKWY 535AddressLine1Txt
CityWINDERMERECityNm
State AbbreviationFLStateAbbreviationCd
ZIP34786ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
TONIA BATCHELOR
8951 BONITA BEACH RD STE 525-308BONITA SPRINGSFL34135PRESIDENT000.00$0$0$0
NATALIE WALLACE
13506 SUMMERPORT VILLAGE PKWY 535WINDERMEREFL34786SECRETARY000.00$0$0$0
THOMAS PETRO
565 CASCADING CREEK LANEWINTER GARDENFL34787VICE PRESIDE000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$234,038AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$220,712AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$454,750TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$454,750AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$6,821CashDeemedCharitableAmt
Net Vl Noncharitable Assets$447,929NetVlNoncharitableAssetsAmt
Minimum Investment Return$22,396MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$22,396MinimumInvestmentReturnAmt
Tax Based On Investment Income$63TaxBasedOnInvestmentIncomeAmt
Total Tax$63TotalTaxAmt
Distributable Before Adj$22,333DistributableBeforeAdjAmt
Distributable Before Ded$22,333DistributableBeforeDedAmt
Distributable As Adjusted$22,333DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$86,000ExpensesAndContributionsAmt
Qualifying Distributions$86,000QualifyingDistributionsAmt
Adjusted Qualifying Distri$86,000AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$22,333DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$23,595ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$27,021ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$32,131ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$45,808ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$44,072ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$172,627TotalExcessDistributionCyovAmt
Qualifying Distributions$86,000QualifyingDistributionsAmt
Applied To Current Year$22,333AppliedToCurrentYearAmt
Remaining Distri From Corpus$63,667RemainingDistriFromCorpusAmt
Total Corpus$236,294TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$23,595ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$212,699ExcessDistriCyovToNextYrAmt
Excess From Year4$27,021ExcessFromYear4Amt
Excess From Year3$32,131ExcessFromYear3Amt
Excess From Year2$45,808ExcessFromYear2Amt
Excess From Year1$44,072ExcessFromYear1Amt
Excess From Current Year$63,667ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
BOYS & GIRLS CLUB OF CENTRAL FLORID
PO BOX 2987ORLANDOFL32802509(A)1OPERATIONS$36,000
BOYS AND GIRLS CLUB BLOOMINGTON
311 S LINCOLN AVEBLOOMINGTONIN47401NON-PROFITOPERATIONS$40,000
WEST ORANGE CHAMBER OF COMMERCE
12184 W COLONIAL DRIVEWINTER GARDENFL34787NON-PROFITOPERATIONS$10,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$86,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,122RelatedOrExemptFunctionIncmAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,050RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$3,172RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$3,172TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp (2 entries)

Line NumberLineNumberTxtRelationship StatementRelationshipStatementTxt
3INVESTMENT OF INITIAL FUNDS TO ACCUMULATE ADDITIONAL AMOUNTS TO BE DISTRIBUTED TO ORGANIZATIONS THAT HAVE CHARITABLE, EDUCATIONAL, RELIGIOUS, SCIENTIFIC OR OTHER NONPROFIT GOALS OR MOTIVES
4INVESTMENT 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

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT ACCOUNTING FEESCategoryTxt
Amt$2,580Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
ANNUAL DUES$150