WALES FAMILY FOUNDATION: Form 990PF, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- WALES FAMILY FOUNDATION (EIN 46-4080656)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-10-28
- IRS object ID
- 202033029349100728
- Schema version
- 2019v5.1
- 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
- Gain Loss Sale Other Assets Sch
- General Explanation Attachment
- Investments Other Schedule2
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Liabilities Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-10-28T16:17:45-07:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETE MILLER CPA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 598 S DENTON TAP RD STE 101 | AddressLine1Txt |
| City | COPPELL | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 750194004 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464080656 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE WALES FAMILY FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | WALE | BusinessNameControlTxt |
| Phone | 2145375600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4989 SHADYWOOD LN | AddressLine1Txt |
| City | DALLAS | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 75209 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAMES R WALES | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2145375600 | PhoneNum |
| Signature | 2020-10-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | PETE MILLER | PreparerPersonNm |
| PTIN | P01083930 | PTIN |
| Phone | 9724629373 | PhoneNum |
| Preparation | 2020-10-28 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 70.120.116.242 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-10-28 | IPDt |
| IP Tm | 16:17:37 | IPTm |
| IP Timezone | PD | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | ECFA63A6D59CB68FB3F7EF0F15690302BC4460DE | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | ECFA63A6D59CB68FB3F7EF0F15690302BC4460DE | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-04-22 16:20:28Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $804,335 | 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 | $49 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $49 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $65,142 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $65,142 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | -$78,228 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $17,679 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Net ST Capital Gain Adj Net Incm | $0 | NetSTCapitalGainAdjNetIncmAmt |
| Gross Profit Rev And Expnss | $0 | GrossProfitRevAndExpnssAmt |
| Other Income Rev And Expnss | $2,860 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $2,860 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | -$10,177 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $68,051 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $0 | TotalAdjNetIncmAmt |
| Legal Fees Rev And Expnss | $0 | LegalFeesRevAndExpnssAmt |
| Accounting Fees Rev And Expnss | $3,800 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $0 | OtherProfFeesRevAndExpnssAmt |
| Interest Rev And Expnss | $3,052 | InterestRevAndExpnssAmt |
| Interest Net Invst Incm | $3,052 | InterestNetInvstIncmAmt |
| Taxes Rev And Expnss | $2,220 | TaxesRevAndExpnssAmt |
| Deprec And Dpltn Rev And Expnss | $0 | DeprecAndDpltnRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $16,559 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $16,559 | OtherExpensesNetInvstIncmAmt |
| Tot Opr Expenses Rev And Expnss | $25,631 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $19,611 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $32,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $32,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $57,631 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $19,611 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $32,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$67,808 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $48,440 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $8,829 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $4,217 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $4,217 | SavAndTempCashInvstEOYFMVAmt |
| Rcvbl From Officers EOY | $0 | RcvblFromOfficersEOYAmt |
| Other Nts And Loans Rcvbl EOY | $0 | OtherNtsAndLoansRcvblEOYAmt |
| Land Bldg Investments EOY | $0 | LandBldgInvestmentsEOYAmt |
| Other Investments BOY | $862,262 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $800,118 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $800,118 | OtherInvestmentsEOYFMVAmt |
| Land EOY | $0 | LandEOYAmt |
| Other Assets BOY | $1,052 | OtherAssetsBOYAmt |
| Other Assets EOY | $0 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $0 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $872,143 | TotalAssetsBOYAmt |
| Total Assets EOY | $804,335 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $804,335 | TotalAssetsEOYFMVAmt |
| Loans From Officers EOY | $0 | LoansFromOfficersEOYAmt |
| Mortgages And Notes Payable EOY | $0 | MortgagesAndNotesPayableEOYAmt |
| Other Liabilities BOY | $9,500 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $9,500 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $9,500 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $9,500 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $862,643 | RetainedEarningBOYAmt |
| Retained Earning EOY | $794,835 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $862,643 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $794,835 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $872,143 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $804,335 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $862,643 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$67,808 | ExcessRevenueOverExpensesAmt |
| Subtotal | $794,835 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $794,835 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (6 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | DepreciationDepreciationAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | FMV As Of123169FMVAsOf123169Amt | Adjusted Basis As Of123169AdjustedBasisAsOf123169Amt | Excess FMV Over Adjusted BssExcessFMVOverAdjustedBssAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| From K-1 Catamount ABS Strategies LP (S) | P | 2019-01-01 | 2019-12-31 | $0 | $0 | $53,046 | -$53,046 | $0 | $0 | $0 | -$53,046 |
| From K-1 Catamount ABS Strategies LP (L) | P | 2018-12-31 | 2019-12-31 | $9,902 | $0 | $0 | $9,902 | $0 | $0 | $0 | $9,902 |
| From K-1 Catamount Absolute Return Fund LP (S) | P | 2019-01-01 | 2019-12-31 | $0 | $0 | $41,491 | -$41,491 | $0 | $0 | $0 | -$41,491 |
| From K-1 Catamount Absolute Return Fund LP (L) | P | 2018-12-31 | 2019-12-31 | $7,745 | $0 | $0 | $7,745 | $0 | $0 | $0 | $7,745 |
| From K-1 Catamount Structured Income Fund LP (S) | P | 2019-01-01 | 2019-12-31 | $32 | $0 | $0 | $32 | $0 | $0 | $0 | $32 |
| From K-1 Catamount Structured Income Fund LP (L) | P | 2018-12-31 | 2019-12-31 | $0 | $0 | $1,370 | -$1,370 | $0 | $0 | $0 | -$1,370 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | -$78,228 | CapitalGainNetIncomeAmt |
| Net Short Term Capital Gain Loss | -$94,505 | NetShortTermCapitalGainLossAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $25,000 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $869,342 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.028757 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $58,775 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $835,219 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.070371 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $2,000 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $864,085 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.002315 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $65,200 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $842,613 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.077378 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $195,878 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $804,599 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.243448 | DistributionYr5Rt |
| Total Distribution | 0.422269 | TotalDistributionRt |
| Average Distribution | 0.084454 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $805,828 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $68,055 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $484 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $68,539 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $32,000 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $969 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $969 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $969 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $1,650 | EstimatedPlusOvpmtIncmTxAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Total Payments And Credits | $1,650 | TotalPaymentsAndCreditsAmt |
| Original Return Overpayment | -$1,650 | OriginalReturnOverpaymentAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $13 | EsPenaltyAmt |
| Overpayment | $668 | OverpaymentAmt |
| Applied To ES Tax | $668 | 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 | TX | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | false | 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 | PETE MILLER CPA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9724629373 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 598 S DENTON TAP 101 | AddressLine1Txt |
| City | COPPELL | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 75019 | 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 |
| 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 R WALES | ||||||||
| 4989 SHADYWOOD LN | DALLAS | TX | 75209 | PRESIDENT | 0.00 | $0 | $0 | $0 |
| LORETTA M WALES | ||||||||
| 4989 SHADYWOOD LN | DALLAS | TX | 75209 | SECRETARY | 0.00 | $0 | $0 | $0 |
| GREG MATTLAGE | ||||||||
| 5430 LBJ FREEWAY STE 1200 | DALLAS | TX | 75240 | DIRECTOR | 0.00 | $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 | ORGANIZATION MADE CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS WHICH SUPPORTS HUNDREDS OF INDIVIDUAL NEEDS | Description1Txt |
| Expenses1 | $32,000 | Expenses1Amt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | NONE | Description1Txt |
| Expenses1 | $0 | Expenses1Amt |
| Description2 | NONE | Description2Txt |
| Expenses2 | $0 | Expenses2Amt |
| All Other Program Rltd Invst Tot | $0 | AllOtherProgramRltdInvstTotAmt |
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $17,981 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $800,118 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $818,099 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $818,099 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $12,271 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $805,828 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $40,291 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $40,291 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $969 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $969 | TotalTaxAmt |
| Distributable Before Adj | $39,322 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $39,322 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $39,322 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $32,000 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $32,000 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $0 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $32,000 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $39,322 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr5 | $99,133 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $24,045 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $0 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $17,734 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $0 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $140,912 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $32,000 | QualifyingDistributionsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $32,000 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $0 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $7,202 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $7,202 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $133,710 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $120 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $91,931 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $41,779 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $24,045 | ExcessFromYear4Amt |
| Excess From Year3 | $0 | ExcessFromYear3Amt |
| Excess From Year2 | $17,734 | ExcessFromYear2Amt |
| Excess From Year1 | $0 | ExcessFromYear1Amt |
| Excess From Current Year | $0 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | JAMES R WALES | ContributingManagerNm |
| Contributing Manager | LORETTA M WALES | ContributingManagerNm |
| Shareholder Manager | NA | ShareholderManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| THE FIRST TEE OF THE TRIANGLE | ||||||
| 12201 LEESVILLE RD | RALEIGH | NC | 27613 | PC | CHARITABLE GIFT | $30,000 |
| CORNERSTONE CROSSROADS ACADEMY | ||||||
| PO BOX 151062 | DALLAS | TX | 75315 | PC | CHARITABLE GIFT | $2,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $32,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $49 | ExclusionAmt |
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $65,142 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | -$78,228 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Other income per K-1 | Desc |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,860 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | -$10,177 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | -$10,177 | 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 | PETE MILLER TAX RETURN | CategoryTxt |
| Amt | $3,800 | Amt |
All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch
All Other Program Related Invst AllOtherProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NONE | Desc |
| Amt | $0 | Amt |
Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch
Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (6 entries)
| AssetAssetDesc | AcquiredAcquiredDt | How AcquiredHowAcquiredTxt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | BasisBasisAmt | Total NetTotalNetAmt |
|---|---|---|---|---|---|---|
| Catamount ABS Strategies LP K-1 Short-Term Capital LOss | 2019-01 | Purchased | 2019-12 | $0 | $53,046 | -$53,046 |
| Catamount ABS Strategies LP K-1 Long-Term Capital Gain | 2018-12 | Purchased | 2019-12 | $9,902 | $9,902 | |
| Catamount Absolute Return Fund LP K-1 Short-Term Capital LOss | 2019-01 | Purchased | 2019-12 | $41,491 | -$41,491 | |
| Catamount Absolute Return Fund LP K-1 Long-Term Capital Gain | 2018-12 | Purchased | 2019-12 | $7,745 | $7,745 | |
| Catamount Structured Income Fund LP S-T Capital Gain | 2019-01 | Purchased | 2019-12 | $32 | $32 | |
| Catamount Structured Income Fund LP L-T Capital LOss | 2018-12 | Purchased | 2019-12 | $1,370 | -$1,370 |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part VII-A Statements Regarding Activities | FormAndLineReferenceDesc |
| Medium Explanation | Line 8b - Texas Attorney General does not require filing of 990-PF. | MediumExplanationTxt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (3 entries)
| Category Or ItemCategoryOrItemTxt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| INVESTMENT IN CATAMOUNT ABSOLUTE RETURN FUND LP | $440,810 | $440,810 |
| INVESTMENT IN ROYAL CLI LP | $261,301 | $261,301 |
| INVESTMENT IN CATAMOUNT STRUCTURED INCOME FUND LP | $98,007 | $98,007 |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE FROM CATAMOUNT STRUCTURED INC FUND ,LP | Desc |
| BOY Book Value | $1,052 | BOYBookValueAmt |
| EOY Book Value | $0 | EOYBookValueAmt |
| EOYFMV | $0 | EOYFMVAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| Portfolio deductions | $9,584 | $9,584 |
| Management fees | $4,168 | $4,168 |
| Professional fees | $2,807 | $2,807 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Other income per K-1 | Desc |
| Revenue And Expenses Per Books | $2,860 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $2,860 | NetInvestmentIncomeAmt |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PAYABLE TO JAMES & LORETTA WALES | Desc |
| BOY Book Value | $9,500 | BOYBookValueAmt |
| EOY Book Value | $9,500 | EOYBookValueAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Federal Tax | CategoryTxt |
| Amt | $2,220 | Amt |