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ABRAHAM AND SALLY MAGID FAMILY FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
ABRAHAM AND SALLY MAGID FAMILY FOUNDATION (EIN 81-6187934)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-11-15
IRS object ID
201923199349104497
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)
Return2019-11-15T16:06:00-06:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN264804797PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1I KNOW A TAX GUYBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1437 ROCKAWAY AVE SUITE 4AddressLine1Txt
CityVALLEY STREAMCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11581ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN816187934EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ABRAHAM AND SALLY MAGID FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Sally MagidInCareOfNm
Business Name ControlABRABusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1100 HILTON AVE Ste 702EAddressLine1Txt
CityGARDEN CITYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11530ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSALLY MAGIDPersonNm
Person TitleTrusteePersonTitleTxt
Phone5165931358PhoneNum
Signature2019-11-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDANIEL EBBINPreparerPersonNm
PTINP01060754PTIN
Phone8334829489PhoneNum
Preparation2019-11-15PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address68.129.69.166IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id13986320193191202769FederalOriginalSubmissionId
Federal Original Submission Id2019-11-15FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdB64EF018AB6A181ED7190BA8903CCBBD0D6307CFAtSubmissionCreationDeviceId
At Submission Filing Device IdB64EF018AB6A181ED7190BA8903CCBBD0D6307CFAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2020-04-17 16:48:07ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$241,212FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$200,245ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$8InterestOnSavRevAndExpnssAmt
Dividends Rev And Expnss$4,209DividendsRevAndExpnssAmt
Net Gain Sale Ast Rev And Expnss$0NetGainSaleAstRevAndExpnssAmt
Gross Profit Rev And Expnss$0GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss$0OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$204,462TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$0LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss$0AccountingFeesRevAndExpnssAmt
Other Prof Fees Rev And Expnss$0OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$0TaxesRevAndExpnssAmt
Deprec And Dpltn Rev And Expnss$0DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$0OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$0TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$12,305ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$12,305ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$12,305TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$12,305TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$192,157ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$19,921CashBOYAmt
Cash EOY$7,618CashEOYAmt
Cash EOYFMV$7,618CashEOYFMVAmt
Sav And Temp Cash Invst BOY$14,976SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$14,983SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$14,983SavAndTempCashInvstEOYFMVAmt
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY$0OtherNtsAndLoansRcvblEOYAmt
US Government Obligations EOY$0USGovernmentObligationsEOYAmt
Corporate Stock BOY$29,921CorporateStockBOYAmt
Corporate Stock EOY$218,611CorporateStockEOYAmt
Corporate Stock EOYFMV$218,611CorporateStockEOYFMVAmt
Corporate Bonds EOY$0CorporateBondsEOYAmt
Land Bldg Investments EOY$0LandBldgInvestmentsEOYAmt
Other Investments EOY$0OtherInvestmentsEOYAmt
Land EOY$0LandEOYAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$0OtherAssetsEOYAmt
Other Assets EOYFMV$0OtherAssetsEOYFMVAmt
Total Assets BOY$64,818TotalAssetsBOYAmt
Total Assets EOY$241,212TotalAssetsEOYAmt
Total Assets EOYFMV$241,212TotalAssetsEOYFMVAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY$0MortgagesAndNotesPayableEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$64,818UnrestrictedBOYAmt
Unrestricted EOY$241,212UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$64,818TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$241,212TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$64,818TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$241,212TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$64,818TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$192,157ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$256,975SubtotalAmt
Other Decreases$15,763OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$241,212TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt

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
Form990 T FiledfalseForm990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
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

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1THE FOUNDATION SALLY MAGIDBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5165931358PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1100 HILTON AVE Ste 702EAddressLine1Txt
CityGARDEN CITYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11530ZIPCd
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
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsfalseMaintainedExpenditureRspnsInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonSALLY MAGIDPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line110 OLD HOMSTEAD WAYAddressLine1Txt
CityALBERTSONCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11507ZIPCd
FieldValueIRS element (for citing)
TitleTRUSTEETitleTxt
Average Hrs Per Wk Devoted To Pos5.000AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
All Other Program Rltd Invst Tot$0AllOtherProgramRltdInvstTotAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$62,133AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$32,753AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$94,886TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$94,886AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,423CashDeemedCharitableAmt
Net Vl Noncharitable Assets$93,463NetVlNoncharitableAssetsAmt
Minimum Investment Return$4,673MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$4,673MinimumInvestmentReturnAmt
Distributable Before Adj$4,673DistributableBeforeAdjAmt
Distributable Before Ded$4,673DistributableBeforeDedAmt
Distributable As Adjusted$4,673DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$12,305ExpensesAndContributionsAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$12,305QualifyingDistributionsAmt
Adjusted Qualifying Distri$12,305AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$4,673DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1$35,180ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$35,180TotalExcessDistributionCyovAmt
Qualifying Distributions$12,305QualifyingDistributionsAmt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$12,305RemainingDistriFromCorpusAmt
Total Corpus$47,485TotalCorpusAmt
Undistributed Income CY$4,673UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$47,485ExcessDistriCyovToNextYrAmt
Excess From Year1$35,180ExcessFromYear1Amt
Excess From Current Year$12,305ExcessFromCurrentYearAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Support TotalSupportGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Public Support Type PublicSupportType

FieldValueIRS element (for citing)
Total$0TotalAmt

Largest Support From EO LargestSupportFromEOGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Gross Investment Income GrossInvestmentIncomeGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
DEFY VENTURES
PO BOX 102117PASADENACA91189PCUNRESTRICTED$5,000
KIDS 4 PEACE
1750 PENNSYLVANIA AVE NW Ste 27598WASHINGTONDC20006PCUNRESTRICTED$180
MUSEUM OF JEWISH HERITAGE
36 BATTERY PLNEW YORKNY10280PCUNRESTRICTED$2,500
NYU WINTHROP HOSPITAL
200 OLD COUNTRY ROAD Ste 570MINEOLANY11501PCUNRESTRICTED$500
SHELTER ROCK JEWISH CENTER
272 SHELTER ROCK RDRoslynNY11576PCUNRESTRICTED$3,765
YIDDISH BOOKS CENTER
1021 WEST STAMHERSTMA01002PCUNRESTRICTED$360
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$12,305TotalGrantOrContriPdDurYrAmt

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 PersonSALLY MAGIDContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1100 HILTON AVE Ste 702EAddressLine1Txt
CityGARDEN CITYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11530ZIPCd
FieldValueIRS element (for citing)
Total Contributions$200,245TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Noncash PropertySECURITIESNoncashPropertyDesc
Fair Market Value$200,245FairMarketValueAmt
Received2018-12-07ReceivedDt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSECURITIES HELD IN JP MORGANStockNm
EOY Book Value$218,611EOYBookValueAmt
EOYFMV$218,611EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescUNRELIZED LOSS INVESTMENTDesc
Amt$15,763Amt