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JPG FOUNDATION: Form 990PF, tax year 2025

View the entire original 990 at ProPublica ↗

Organization
JPG FOUNDATION (EIN 35-2432010)
Tax period
2025-01-01 to 2025-12-31
Filed
2026-02-17
IRS object ID
202600489349100605
Schema version
2025v4.0
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 ReturnHeader

FieldValueIRS element (for citing)
Return2026-02-17T06:58:54-08:00ReturnTs
Tax Period End2025-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN383036118PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1GALASSO PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line130701 BARRINGTON ST STE 175AddressLine1Txt
CityMADISON HEIGHTSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48071ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2025-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN352432010EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1JPG FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlJPGFBusinessNameControlTxt
Phone2484087957PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O GALASSO 775 RED RUN DRAddressLine1Txt
CityTROYCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48085ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOSEPH P GALASSO JRPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2484087957PhoneNum
Signature2026-01-28SignatureDt

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJOSEPH P GALASSO JRPreparerPersonNm
PTINP01424826PTIN
Phone2485882800PhoneNum
Preparation2026-02-12PreparationDt
FieldValueIRS element (for citing)
Tax2025TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$203,702FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$109,209ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$2,737DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,737DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss$0GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss$26OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$26OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$111,972TotalRevAndExpnssAmt
Total Net Invst Incm$2,763TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$0LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss$0AccountingFeesRevAndExpnssAmt
Other Prof Fees Rev And Expnss$0OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$28TaxesRevAndExpnssAmt
Taxes Net Invst Incm$28TaxesNetInvstIncmAmt
Deprec And Dpltn Rev And Expnss$0DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$0OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$28TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$28TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$2,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$2,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,528TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$28TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$109,444ExcessRevenueOverExpensesAmt
Net Investment Income$2,735NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY$0OtherNtsAndLoansRcvblEOYAmt
Corporate Stock BOY$53,050CorporateStockBOYAmt
Corporate Stock EOY$74,823CorporateStockEOYAmt
Corporate Stock EOYFMV$203,702CorporateStockEOYFMVAmt
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$53,050TotalAssetsBOYAmt
Total Assets EOY$74,823TotalAssetsEOYAmt
Total Assets EOYFMV$203,702TotalAssetsEOYFMVAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY$0MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY$1,645OtherLiabilitiesBOYAmt
Other Liabilities EOY$1,919OtherLiabilitiesEOYAmt
Total Liabilities BOY$1,645TotalLiabilitiesBOYAmt
Total Liabilities EOY$1,919TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$55,869CapitalStockBOYAmt
Capital Stock EOY$77,133CapitalStockEOYAmt
Retained Earning BOY-$4,464RetainedEarningBOYAmt
Retained Earning EOY-$4,229RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$51,405TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$72,904TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$53,050TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$74,823TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$51,405TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$109,444ExcessRevenueOverExpensesAmt
Subtotal$160,849SubtotalAmt
Other Decreases$87,945OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$72,904TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$38InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$38SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$38TaxBasedOnInvestmentIncomeAmt
Original Return Tax Paid$0OriginalReturnTaxPaidAmt
Tax Due$38TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 StateMIOrgReportOrRegisterStateCd
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
Website AddressN/AWebsiteAddressTxt
Individual With BooksJOSEPH P GALASSO JRIndividualWithBooksNm
Phone2484087957PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1775 RED RUN DRAddressLine1Txt
CityTROYCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48085ZIPCd
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

FieldValueIRS element (for citing)
PersonJOSEPH P GALASSO JRPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1775 RED RUN DRAddressLine1Txt
CityTROYCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48085ZIPCd
FieldValueIRS element (for citing)
TitlePRESTitleTxt
Average Hrs Per Wk Devoted To Pos1.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1SEE SCHEDULE OF GIFTSDescription1Txt
Expenses1$2,500Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$129,771AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$500AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$130,271TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$130,271AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,954CashDeemedCharitableAmt
Net Vl Noncharitable Assets$128,317NetVlNoncharitableAssetsAmt
Minimum Investment Return$6,416MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$6,416MinimumInvestmentReturnAmt
Tax Based On Investment Income$38TaxBasedOnInvestmentIncomeAmt
Total Tax$38TotalTaxAmt
Distributable Before Adj$6,378DistributableBeforeAdjAmt
Distributable Before Ded$6,378DistributableBeforeDedAmt
Distributable As Adjusted$6,378DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,500ExpensesAndContributionsAmt
Qualifying Distributions$2,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$6,378DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$1,085ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$2,000ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$2,000ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$44ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$2,500ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$7,629TotalExcessDistributionCyovAmt
Qualifying Distributions$2,500QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$2,500AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$3,878ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$3,878ExcessDistributionCyovAppCYAmt
Total Corpus$3,751TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$3,751ExcessDistriCyovToNextYrAmt
Excess From Year4$0ExcessFromYear4Amt
Excess From Year3$1,207ExcessFromYear3Amt
Excess From Year2$44ExcessFromYear2Amt
Excess From Year1$2,500ExcessFromYear1Amt
Excess From Current Year$0ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJOSEPH P GALASSO JRContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE SCHEDULE ATTACHEDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1VARAddressLine1Txt
CityVARCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48085ZIPCd
FieldValueIRS element (for citing)
Recipient Foundation StatusPFRecipientFoundationStatusCd
Grant Or Contribution PurposeCHARITYGrantOrContributionPurposeTxt
Amt$2,500Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$2,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion3ExclusionCd
Exclusion$2,737ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$2,737ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$2,737TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number3LineNumberTxt
Relationship StatementFUNDS GIFTSRelationshipStatementTxt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockPER CHARLES SCHWABStockNm
EOY Book Value$74,823EOYBookValueAmt
EOYFMV$203,702EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail (2 entries)

DescDescAmtAmt
ROUNDING$0
excess of fmv over cost$87,945

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescmiscDesc
Revenue And Expenses Per Books$26RevenueAndExpensesPerBooksAmt
Net Investment Income$26NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
MICHIGAN ANNUAL$0
INVESTMENT FEES$0
IRS FEES$28$28