FARGNOLI CHARITABLE FOUNDATION BY AL AND DEBBY INC: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- FARGNOLI CHARITABLE FOUNDATION BY AL AND DEBBY INC (EIN 33-1754591)
- Tax period
- 2024-08-26 to 2024-12-31
- Filed
- 2025-12-03
- IRS object ID
- 202513379349100206
- Schema version
- 2024v5.2
- 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
- Schedule B
- General Explanation Attachment
- Investments Other Schedule2
- Reasonable Cause Explanation
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-12-03T03:28:30-00:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 161191442 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KENNETH PAUL LASS CPA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1109 MONROE ST | AddressLine1Txt |
| City | ENDICOTT | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 13760 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-08-26 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 331754591 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FARGNOLI CHARITABLE FOUNDATION BY AL & DEBBY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % ALBERT FARGNOLI | InCareOfNm |
| Business Name Control | FARG | BusinessNameControlTxt |
| Phone | 6077259211 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1311 ARBOR GLADE RD | AddressLine1Txt |
| City | APALACHIN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 13732 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ALBERT J FARGNOLI JR | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 6077259211 | PhoneNum |
| Signature | 2025-10-01 | SignatureDt |
| Discuss With Paid Preparer | false | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KENNETH P LASS | PreparerPersonNm |
| PTIN | P00320158 | PTIN |
| Phone | 6077545773 | PhoneNum |
| Preparation | 2025-12-03 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| 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) |
|---|---|---|
| Initial Return | Yes (X) | InitialReturnInd |
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $712,495 | 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 | $712,495 | ContriRcvdRevAndExpnssAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $712,495 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $0 | TotalNetInvstIncmAmt |
| Tot Opr Expenses Rev And Expnss | $0 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $0 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $0 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $712,495 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Investments EOY | $712,495 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $712,495 | OtherInvestmentsEOYFMVAmt |
| Total Assets EOY | $712,495 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $712,495 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning EOY | $712,495 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances EOY | $712,495 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $0 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $712,495 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Excess Revenue Over Expenses | $712,495 | ExcessRevenueOverExpensesAmt |
| Subtotal | $712,495 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $712,495 | TotNetAstOrFundBalancesEOYAmt |
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 | NY | 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 | ALBERT FARGNOLI JR | IndividualWithBooksNm |
| Phone | 6077259211 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1311 ARBOR GLADE RD | AddressLine1Txt |
| City | APALACHIN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 13732 | 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 |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ALBERT FARGNOLI JR | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1311 ARBOR GLADE RD | AddressLine1Txt |
| City | APALACHIN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 13732 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | PRESIDENT | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 000.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
| Expenses1 | $0 | Expenses1Amt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $0 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $29,687 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $29,687 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $29,687 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $445 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $29,242 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $513 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $513 | MinimumInvestmentReturnAmt |
| Distributable Before Adj | $513 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $513 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $513 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $0 | ExpensesAndContributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $513 | DistributableAsAdjustedAmt |
| Undistributed Income CY | $513 | UndistributedIncomeCYAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Fndtn Ruling | 2024-08-26 | PrivateOperatingFndtnRulingDt |
| Section4942j3 | Yes (X) | Section4942j3Ind |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | ALBERT J FARGNOLI JR | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
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 |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALBERT J FARGNOLI JR | BusinessNameLine1Txt |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1311 ARBOR GLADE DR | AddressLine1Txt |
| City | APALACHIN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 13732 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | $712,495 | TotalContributionsAmt |
| Noncash Contribution | Yes (X) | NoncashContributionInd |
Non Cash Property Contribution NonCashPropertyContributionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
| Noncash Property | EQUITABLE LIFE INSURANCE POLICY | NoncashPropertyDesc |
| Fair Market Value | $712,495 | FairMarketValueAmt |
| Received | 2024-12-17 | ReceivedDt |
Charitable Contributions Detail CharitableContributionsDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
| Gift Purpose | FUND FOUNDATION | GiftPurposeTxt |
| Gift Use | SUPPORT 501 C 3 ORGANS | GiftUseTxt |
| Transferee Name Individual | ALBERT J FARGNOLI JR | TransfereeNameIndividual |
Transferee US Address TransfereeUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1311 ARBOR GLADE DR | AddressLine1Txt |
| City | APALACHIN | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 13732 | ZIPCd |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART VI-A SUBSTANTIAL CONTRIBUTOR ALBERT J FARGNOLI JR 1311 ARBOR GLADE DR APALACHIN NY 13732 | FormAndLineReferenceDesc |
| Medium Explanation | PART VI-A SUBSTANTIAL CONTRIBUTOR ALBERT J FARGNOLI JR 1311 ARBOR GLADE DR APALACHIN NY 13732 | MediumExplanationTxt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category Or Item | EQUITABLE LIFE INS POLICY | CategoryOrItemTxt |
| Listed At Cost Or FMV | FMV | ListedAtCostOrFMVCd |
| Book Value | $712,495 | BookValueAmt |
| EOYFMV | $712,495 | EOYFMVAmt |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | AS THIS WAS OUR FIRST YEAR AND FILING. THE ACCOUNTANT WAS NOT AWARE THAT THE YEAR END FOR THIS ORGANIZATION WAS TO BE A CALENDAR YEAR. ONLY AFTER THE IRS LETTER 1076 ADVISING US THAT WE WERE A 501C3 PRIVATE FOUNDATION WITH A YEAR END OF DECEMBER 2024 DID THE FILING REQUIREMENT BECOME AN ISSUE. MY OFFICE PREPARED AND FILED THE RETURN AS PROMPTLY AS POSSIBLE THEREFORE PLEASE ABATE ALL LATE FILING PENALTIES FOR REASONABLE CAUSE. | ExplanationTxt |