STRATEGY STUDIO / PUBLIC DATA EXPLORER

WATTS FAMILY FOUNDATION: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
WATTS FAMILY FOUNDATION (EIN 20-1944745)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-04-24
IRS object ID
201801149349100205
Schema version
2017v2.3
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)
Return2018-04-24T08:56:34-05:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Hollow Ln Ste 212AddressLine1Txt
CityLake SuccessCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN201944745EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Watts Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlWATTBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRICHARD WATTSPersonNm
Person TitlepresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2018-04-16SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$61,623FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$55,100ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$37InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$37InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$55,137TotalRevAndExpnssAmt
Total Net Invst Incm$37TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Expenses Rev And Expnss$2,297OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$2,297OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$2,297TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$2,297TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,297TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,297TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$52,840ExcessRevenueOverExpensesAmt
Net Investment Income$37NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$8,783SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$61,623SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$61,623SavAndTempCashInvstEOYFMVAmt
Total Assets BOY$8,783TotalAssetsBOYAmt
Total Assets EOY$61,623TotalAssetsEOYAmt
Total Assets EOYFMV$61,623TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$8,783RetainedEarningBOYAmt
Retained Earning EOY$61,623RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$8,783TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$61,623TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$8,783TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$61,623TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$8,783TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$52,840ExcessRevenueOverExpensesAmt
Subtotal$61,623SubtotalAmt
Tot Net Ast Or Fund Balances EOY$61,623TotNetAstOrFundBalancesEOYAmt
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$2,281AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$1,836NetVlNoncharitableAssetsYr1Amt
Distribution Yr11.242375DistributionYr1Rt
Adjusted Qlfy Distri Yr2$5,642AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$3,453NetVlNoncharitableAssetsYr2Amt
Distribution Yr21.633942DistributionYr2Rt
Adjusted Qlfy Distri Yr3$2,620AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$7,765NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.337411DistributionYr3Rt
Adjusted Qlfy Distri Yr4$2,698AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$10,112NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.266812DistributionYr4Rt
Adjusted Qlfy Distri Yr5$2,316AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$12,861NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.180079DistributionYr5Rt
Total Distribution3.660619TotalDistributionRt
Average Distribution0.732124AverageDistributionRt
Net Vl Noncharitable Assets$10,480NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$7,673AdjNetVlNoncharitableAssetsAmt
Adj Nonchrtbl Net Invst Incm Pct$7,673AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$2,297QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1InvestmentIncomeExciseTaxAmt
Subtotal$1SubtotalAmt
Tax Based On Investment Income$1TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$1TaxDueAmt

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 StateDEOrgReportOrRegisterStateCd
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 Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
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

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
Debbie Watts
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
Richard Watts
Foundation Source 501 Silverside RdWilmingtonDE198091377Pres, Dir, Sec1.0$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$10,640AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$10,640TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$10,640AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$160CashDeemedCharitableAmt
Net Vl Noncharitable Assets$10,480NetVlNoncharitableAssetsAmt
Minimum Investment Return$524MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$524MinimumInvestmentReturnAmt
Tax Based On Investment Income$1TaxBasedOnInvestmentIncomeAmt
Total Tax$1TotalTaxAmt
Distributable Before Adj$523DistributableBeforeAdjAmt
Distributable Before Ded$523DistributableBeforeDedAmt
Distributable As Adjusted$523DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,297ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$2,297QualifyingDistributionsAmt
Adjusted Qualifying Distri$2,297AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$523DistributableAsAdjustedAmt
Prior Year12015PriorYear1Yr
Prior Year22014PriorYear2Yr
Prior Year32013PriorYear3Yr
Excess Distribution Cyov Yr5$1,673ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$2,192ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$2,232ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$5,469ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$2,189ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$13,755TotalExcessDistributionCyovAmt
Qualifying Distributions$2,297QualifyingDistributionsAmt
Applied To Current Year$523AppliedToCurrentYearAmt
Remaining Distri From Corpus$1,774RemainingDistriFromCorpusAmt
Total Corpus$15,529TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$1,673ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$13,856ExcessDistriCyovToNextYrAmt
Excess From Year4$2,192ExcessFromYear4Amt
Excess From Year3$2,232ExcessFromYear3Amt
Excess From Year2$5,469ExcessFromYear2Amt
Excess From Year1$2,189ExcessFromYear1Amt
Excess From Current Year$1,774ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerDebbie WattsContributingManagerNm
Contributing ManagerRichard WattsContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

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$37ExclusionAmt
FieldValueIRS element (for citing)
Div And Int From Sec Part VIIDivAndIntFromSecPartVIIGrp
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$37ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$37TotalIncomeProducingActyAmt

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 PersonRichard C Watts Inc dba Fam BusinesContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line11602 E Fourth StreetAddressLine1Txt
CitySanta AnaCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92701ZIPCd
FieldValueIRS element (for citing)
Total Contributions$55,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$2,272$2,272
State or Local Filing Fees$25$25