PETRO FAMILY FOUNDATION INC: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- PETRO FAMILY FOUNDATION INC (EIN 52-2373545)
- Tax period
- 2024-07-01 to 2025-06-30
- Filed
- 2025-11-10
- IRS object ID
- 202533149349100428
- Schema version
- 2024v5.0
- 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
- Form 990-PF
- Accounting Fees Schedule
- Gain Loss Sale Other Assets Sch
- Other Expenses Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-10T09:53:39-05:00 | ReturnTs |
| Tax Period End | 2025-06-30 | 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 | 2600 MAITLAND CENTER PARKWAY STE 2 | AddressLine1Txt |
| City | MAITLAND | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32751 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-07-01 | 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 | 2025-11-10 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOANNE M MCCARTER CPA | PreparerPersonNm |
| PTIN | P01651687 | PTIN |
| Phone | 4076471717 | PhoneNum |
| Preparation | 2025-11-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $876,110 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $206 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $40 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $40 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $40 | InterestOnSavingsAdjNetIncmAmt |
| Dividends Rev And Expnss | $16,658 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $16,658 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $16,658 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $35,891 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $49,868 | GrossSalesPriceAmt |
| Total Rev And Expnss | $52,795 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $16,698 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $16,698 | TotalAdjNetIncmAmt |
| Accounting Fees Rev And Expnss | $2,680 | AccountingFeesRevAndExpnssAmt |
| Taxes Rev And Expnss | $206 | TaxesRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $11,034 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $13,920 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | 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 | $45,920 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $32,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $6,875 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $16,698 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $16,698 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $21,444 | CashBOYAmt |
| Cash EOY | $12,491 | CashEOYAmt |
| Cash EOYFMV | $12,491 | CashEOYFMVAmt |
| US Government Obligations BOY | $517,839 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $533,667 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $863,619 | USGovtObligationsEOYFMVAmt |
| Total Assets BOY | $539,283 | TotalAssetsBOYAmt |
| Total Assets EOY | $546,158 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $876,110 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $539,283 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $546,158 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $539,283 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $546,158 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $539,283 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $546,158 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $539,283 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $6,875 | ExcessRevenueOverExpensesAmt |
| Subtotal | $546,158 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $546,158 | TotNetAstOrFundBalancesEOYAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $232 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $232 | SubtotalAmt |
| Tax Based On Investment Income | $232 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $232 | 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 | $842,963 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $21,327 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $864,290 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $864,290 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $12,964 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $851,326 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $42,566 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $42,566 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $232 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $232 | TotalTaxAmt |
| Distributable Before Adj | $42,334 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $42,334 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $42,334 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $32,000 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $32,000 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $42,334 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr4 | $6,841 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr2 | $15,467 | ExcessDistributionCyovYr2Amt |
| Total Excess Distribution Cyov | $22,308 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $32,000 | QualifyingDistributionsAmt |
| Applied To Current Year | $32,000 | AppliedToCurrentYearAmt |
| Excess Distri Cyov App CY Corpus | $10,334 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $10,334 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $11,974 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $11,974 | ExcessDistriCyovToNextYrAmt |
| Excess From Year2 | $11,974 | ExcessFromYear2Amt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| BOYS & GIRLS CLUB BLOOMINGTON | ||||||
| 311 S LINCOLN ST | BLOOMINGTON | IN | 47401 | 509(A)1 | OPERATIONS | $20,000 |
| BOYS & GIRLS CLUB OF CENTRAL FL | ||||||
| PO BOX 2987 | ORLANDO | FL | 32802 | 509(A)1 | OPERATIONS | $7,000 |
| WEST ORANGE CHAMBER OF COMMERCE | ||||||
| 12184 W COLONIAL DRIVE | WINTER GARDEN | FL | 34787 | NON-PROFIT | OPERATIONS | $5,000 |
| 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) |
|---|---|---|
| Related Or Exempt Function Incm | $40 | RelatedOrExemptFunctionIncmAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $16,658 | RelatedOrExemptFunctionIncmAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $35,891 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $52,589 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $52,589 | 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 | $2,680 | Amt |
Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch
Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (5 entries)
| AssetAssetDesc | AcquiredAcquiredDt | How AcquiredHowAcquiredTxt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | BasisBasisAmt | Total NetTotalNetAmt |
|---|---|---|---|---|---|---|
| AMAZON | 2021-07 | PURCHASE | 2025-03 | $5,028 | $4,480 | $548 |
| AMERICAN EXPRESS | 2013-03 | PURCHASE | 2025-03 | $5,254 | $1,272 | $3,982 |
| META | 2013-03 | PURCHASE | 2025-03 | $10,388 | $434 | $9,954 |
| VANGUARD VCR | 2021-07 | PURCHASE | 2025-03 | $5,032 | $4,678 | $354 |
| VANGUARD VGT | 2013-03 | PURCHASE | 2025-03 | $24,166 | $3,113 | $21,053 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt |
|---|---|
| EXPENSES | |
| BROKERAGE FEES | $11,034 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | INDIRECT TAXES/LICENSES | CategoryTxt |
| Amt | $206 | Amt |