2017-01-10T12:21:27-06:00 2015-12-31 391203191 SVA CERTIFIED PUBLIC ACCTS SC 1221 JOHN Q HAMMONS DRIVE MADISON WI 53717 990 2015-01-01 475255658 ITS POSSIBLE FOUNDATION INC ITSP 6087774649 7930 Coray Lane VERONA WI 53593 Theresa A Dvorak PRESIDENT/TREASURER 6087774649 2016-08-05 1 Theran Welsh P00187849 6088318181 2016-07-29 2015 2021-01-29 14:40:06Z X X Theresa A Dvorak 7930 Coray Lane VERONA WI 53593 2066228 0 X N/A X 2015 WI TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF THE MADISON COMMUNITY FOUNDATION (MCF) AND TO BE OPERATED IN CONNECTION WITH MCF. 3 3 0 0 0 0 2066228 0 0 0 2066228 0 0 0 0 0 0 0 2066228 2066228 0 2066228 X The Foundation makes grants for the purpose of supporting a wide array of services relating to the arts, education, animal welfare, physical fitness and children. The Foundation operates its grant-making in connection with and in support of the Madison Community Foundation (its supported organization). 0 0 The Foundation was established during this tax year and is in its initial start-up phase. THE ORGANIZATION RECEIVED $2,066,228 IN SUPPORT OF ITS EXEMPT PURPOSE AND MISSION. The Board is currently engaged in planning for future grant-making. 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 X Theresa A Dvorak 6087774649 7930 Coray Lane Verona WI 53593 X THERESA DVORAK PRESIDENT/TREASURER 1.00 0.00 X X 0 0 0 CARL DVORAK VICE PRESIDENT 1.00 0.00 X X 0 0 0 ALYSSA DVORAK SECRETARY 1.00 0.00 X X 0 0 0 0 0 0 0 0 0 0 0 2066228 2066228 2066228 2066228 0 0 0 0 0 0 0 2066228 0 2066228 0 0 X 2066228 0 2066228 0 2066228 2066228 0 X 0 0 0 X X X 1 MADISON COMMUNITY FOUNDATION 396038248 8 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 0 0 0 0 0 0 X SCHEDULE A, PART IV, SECTION D, LINE 3 David Reinecke and Dan Mohan provided input to DIRECT the FOUNDATION'S investments and grant-making. In addition, the Board of DIRECTORS of the Madison Community Foundation (THE FOUNDATION'S SUPPORTED ORGANIZATION) reviewed and approved the FOUNDATION'S investment and grant-making policies. SCHEDULE A, PART IV, SECTION D, LINE 1 The governing documents were provided to the MADISON COMMUNITY FOUNDATION, THE supported organization. AS 2015 was the FOUNDATION'S INITIAL tax year, a PRIOR YEAR Form 990 and a description of support provided IS not APPLICABLE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 2066228 APPRAISAL 0 0 0 Form 990, Part VI, Section A, line 2 Officers with family relationships: Theresa and Carl Dvorak are married, and Alyssa Dvorak is their daughter. Form 990, Part VI, Section B, line 11 PROCESS USED TO REVIEW THE FORM 990: THE BOARD OF DIRECTORS REVIEW AND APPROVE THE FORM 990 PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE. Form 990, Part VI, Section B, line 12 ANY INTERESTED PERSONS (DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST) MUST DISCLOSE THE EXISTENCE OF A FINANCIAL INTEREST TO THE BOARD OF DIRECTORS. Form 990, Part VI, Section C, line 19 THE FOUNDATION'S DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990; PAGE 1, ITEM B THE FORM 990 FILED FOR THE YEAR ENDED DECEMBER 31, 2015, HAS BEEN AMENDED DUE TO AN ERROR FOUND IN THE ORIGINAL FILING. THE AMENDED RETURN INCLUDES THE FOLLOWING CHANGES: PART I: FORM 990, PART I, LINE 13, WAS PREPARED AS IF ALL OF THE ASSETS OF THE ORGANIZATION WERE DISTRIBUTED IN 2015 TO ITS SUPPORTING ORGANIZATION, MADISON COMMUNITY FOUNDATION WHEN IN FACT, NO DISTRIBUTIONS WERE MADE IN 2015. THEREFORE, PART I, LINE 13, HAS BEEN CHANGED TO $0. PART III: IN THE ORGINIALLY FILED RETURN, LINE 4A INCLUDED GRANT EXPENSE OF $2,066,228 WHEN IN FACT THERE WERE NO GRANT EXPENSES INCURRED OR PAID FOR THE YEAR ENDED DECEMBER 31, 2015. THEREFORE, AMOUNT REPORTED FOR EXPENSES AND GRANTS IS $0. PART IV: IN THE ORGINIALLY FILED RETURN, LINE 21 WAS CHECKED "YES" REGARDING GRANTS PAID TO DOMESTIC ORGANIZATIONS HOWEVER, NO GRANTS WERE PAID FOR THE YEAR ENDED DECEMBER 31, 2015. THE RESPONSE IS NOW CHECKED "NO." PART IX: IN THE ORIGINALLY FILED RETURN, LINE 1 INCLUDED GRANTS PAID OF $2,066,228 HOWEVER, NO GRANTS WERE PAID IN 2015. LINE 1 IS NOW BLANK. PART X: IN THE ORIGINALLY FILED RETURN, LINE 11 REPORTED INVESTMENTS AS $0 SINCE THE FORM 990 REPORTED THAT ALL ASSETS WERE DISTRIBUTED AS OF DECEMBER 31, 2015. LINES 27, 33 AND 34 ALSO REPORTED $0 BALANCES. SINCE NO DISTRIBUTIONS WERE MADE IN 2015, THE BALANCES ON LINES 11, 27, 33 AND 34 ARE NOW REPORTED AS $2,066,228. PART XI: IN THE ORIGINALLY FILED RETURN, LINE 2 REPORTED EXPENSES OF $2,066,228 AND LINE 10 REPORTED ENDING NET ASSETS AS $0. THERE WERE NO EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2015. LINE 2 IS NOW $0, LINE 3 AND LINE 10 ARE REPORTED OF $2,066,228. SCHEDULE A: IN THE ORIGINALLY FILED RETURN, LINE 11, ITEM G (VI) REPORTED SUPPORT OF $2,066,228. SINCE THERE WERE NO SUPPORT GIVEN IN 2015, ITEM G (VI) IS NOW REPORTED AS $0. SCHEDULE I: IN THE ORIGINALLY FILED RETURN, PART II, LINE 1(A) - 1(H) WAS COMPLETED REPORTING A GRANT TO MADISON COMMUNITY FOUNDATION IN THE AMOUNT OF $2,066,228. SINCE NO GRANT WAS MADE IN 2015, SCHEDULE I IS NOT INCLUDED IN THE AMENDED FORM 990.