STRATEGY STUDIO / PUBLIC DATA EXPLORER

THE KARP FAMILY FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
THE KARP FAMILY FOUNDATION (EIN 65-6457023)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-11-13
IRS object ID
201923179349100847
Schema version
2018v3.1
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 ReturnHeader

FieldValueIRS element (for citing)
Return2019-11-13T10:05:24-06:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KPMG LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1150 John F Kennedy ParkwayAddressLine1Txt
CityShort HillsCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07078ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN656457023EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Karp Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% JASON H KARPInCareOfNm
Business Name ControlKARPBusinessNameControlTxt
Phone9175929394PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1888 Seventh Avenue 27th FloorAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10019ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJASON H KARPPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone2125542511PhoneNum
Signature2019-11-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer Personkristen stinsonPreparerPersonNm
PTINP00360338PTIN
Phone2127589700PhoneNum
Preparation2019-11-15PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address167.68.102.5IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id22391220193175000001FederalOriginalSubmissionId
Federal Original Submission Id2019-11-13FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id5F5BCF0F5A7C1A4DA2E326C95A7388309B8E63B1AtSubmissionCreationDeviceId
At Submission Filing Device Id1B3C0C2DC60123AEB1152A4EFA00CD622A8E5F0FAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2020-04-17 16:48:07ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$606,974FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,000,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$433InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$433InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$442DividendsRevAndExpnssAmt
Dividends Net Invst Incm$442DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,000,875TotalRevAndExpnssAmt
Total Net Invst Incm$875TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$3TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$85OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$88TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$500,250ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$500,250ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$500,338TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$500,250TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$500,537ExcessRevenueOverExpensesAmt
Net Investment Income$875NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$105,372CashBOYAmt
Cash EOY$606,974CashEOYAmt
Cash EOYFMV$606,974CashEOYFMVAmt
Rcvbl From Officers BOY$1,065RcvblFromOfficersBOYAmt
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Total Assets BOY$106,437TotalAssetsBOYAmt
Total Assets EOY$606,974TotalAssetsEOYAmt
Total Assets EOYFMV$606,974TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$106,437RetainedEarningBOYAmt
Retained Earning EOY$606,974RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$106,437TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$606,974TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$106,437TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$606,974TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$106,437TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$500,537ExcessRevenueOverExpensesAmt
Subtotal$606,974SubtotalAmt
Tot Net Ast Or Fund Balances EOY$606,974TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$239,635AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$256,090NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.935745DistributionYr1Rt
Adjusted Qlfy Distri Yr2$186,700AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$483,930NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.3858DistributionYr2Rt
Adjusted Qlfy Distri Yr3$163,500AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$239,642NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.682268DistributionYr3Rt
Adjusted Qlfy Distri Yr4$51,500AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$65,086NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.791261DistributionYr4Rt
Adjusted Qlfy Distri Yr5$35,000AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$15,457NetVlNoncharitableAssetsYr5Amt
Distribution Yr52.264346DistributionYr5Rt
Total Distribution5.05942TotalDistributionRt
Average Distribution1.011884AverageDistributionRt
Net Vl Noncharitable Assets$196,144NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$198,475AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$9NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$198,484AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$500,250QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$9InvestmentIncomeExciseTaxAmt
Subtotal$9SubtotalAmt
Tax Based On Investment Income$9TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$9TaxDueAmt

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 StateCTOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1JASON H KARPBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2125542511PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1888 SEVENTH AVENUE 27TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10019ZIPCd
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
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JESSICA KARP
900 Live Oak CircleaustinTX78746TRUSTEE5.0$0$0$0
JASON KARP
900 Live Oak CircleaustinTX78746TRUSTEE5.0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$199,131AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$199,131TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$199,131AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,987CashDeemedCharitableAmt
Net Vl Noncharitable Assets$196,144NetVlNoncharitableAssetsAmt
Minimum Investment Return$9,807MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$9,807MinimumInvestmentReturnAmt
Tax Based On Investment Income$9TaxBasedOnInvestmentIncomeAmt
Total Tax$9TotalTaxAmt
Distributable Before Adj$9,798DistributableBeforeAdjAmt
Distributable Before Ded$9,798DistributableBeforeDedAmt
Distributable As Adjusted$9,798DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$500,250ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$500,250QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$9PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$500,241AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$9,798DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12016PriorYear1Yr
Prior Year22015PriorYear2Yr
Prior Year32014PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$34,227ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$48,246ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$151,518ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$162,504ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$226,833ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$623,328TotalExcessDistributionCyovAmt
Qualifying Distributions$500,250QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$9,798AppliedToCurrentYearAmt
Remaining Distri From Corpus$490,452RemainingDistriFromCorpusAmt
Total Corpus$1,113,780TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$34,227ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$1,079,553ExcessDistriCyovToNextYrAmt
Excess From Year4$48,246ExcessFromYear4Amt
Excess From Year3$151,518ExcessFromYear3Amt
Excess From Year2$162,504ExcessFromYear2Amt
Excess From Year1$226,833ExcessFromYear1Amt
Excess From Current Year$490,452ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJASON H KARPContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
SERVE AND RETURN
31 KENNETH STPLAINVIEWNY118033911N/APCUNRESTRICTED USE$5,700
COLUMBIA GRAMMAR AND PREP
5 WEST 93RD STNEW YORKNY10025N/APCUNRESTRICTED USE$5,000
USTA FOUNDATION
70 WEST RED OAK LANEWHITE PLAINSNY10604N/APCUNRESTRICTED USE$14,550
GLOBAL WILDLIFE CONSERVATORY
PO BOX 129AUSTINTX78767N/APCUNRESTRICTED USE$20,000
THE WASHINGTON CENTER
1333 16TH ST NWWASHINGTONDC20036N/APCUNRESTRICTED USE$15,000
TRUSTEES OF UNIVERSITY OF PA
3330 WALNUT STPHILADELPHIAPA19104N/APCUNRESTRICTED USE$440,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$500,250TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$433ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$442ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$875ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$875TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonJASON AND JESSICA KARPContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1900 Live Oak CircleAddressLine1Txt
CityaustinCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78746ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,000,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescBANK CHARGESDesc
Revenue And Expenses Per Books$85RevenueAndExpensesPerBooksAmt

Other Receivables Officers Sch OtherReceivablesOfficersSch

Officer Other Rcvbl OfficerOtherRcvblGrp

FieldValueIRS element (for citing)
Borrower PersonJASON KARPBorrowerPersonNm
Loan Original$1,065LoanOriginalAmt
Balance Due$0BalanceDueAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTAXCategoryTxt
Amt$3Amt