KAY TORSHEN FOUNDATION: Form 990PF, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: KAY TORSHEN FOUNDATION (EIN 20-1900191)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-11-06
IRS object ID: 201333109349100323
Schema version: 2012v2.0
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
Other Expenses Schedule
Other Income Schedule2

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-11-06T13:44:33-08:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Stephen Robin & Company	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	3100 Dundee Road Suite 505	AddressLine1
City	Northbrook	City
State	IL	State
ZIP Code	60062	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	201900191	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	KAY TORSHEN FOUNDATION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	KAYT	NameControl
Phone	3122740200	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	980 N MICHIGAN AVE	AddressLine1
City	CHICAGO	City
State	IL	State
ZIP Code	60611	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	KAY TORSHEN	Name
Title	Director	Title
Date Signed	2013-11-06	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Stephen Robin	Name
PTIN	P01443675	PTIN
Phone	8474800077	Phone
Self Employed	X	SelfEmployed

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-03-07 17:11:31Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Exempt PF	X	ExemptPF
FMV Assets EOY	2566559	FMVAssetsEOY
Method Of Accounting Cash	X	MethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Received Rev And Expnss	580000	ContriReceivedRevAndExpnss
Not Required To Attach Schedule B	X	NotRequiredToAttachScheduleB
Interest On Savings Rev And Expnss	19895	InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm	19895	InterestOnSavingsNetInvstIncm
Interest On Savings Adj Net Incm	19895	InterestOnSavingsAdjNetIncm
Dividends Rev And Expnss	12733	DividendsRevAndExpnss
Dividends Net Invst Incm	12733	DividendsNetInvstIncm
Dividends Adj Net Incm	12733	DividendsAdjNetIncm
Net Gain Sale Assets Rev And Expnss	161872	NetGainSaleAssetsRevAndExpnss
Gross Sales Price	170473	GrossSalesPrice
Capital Gain Net Incm Net Invst Incm	161872	CapitalGainNetIncmNetInvstIncm
Net STCG Adj Net Incm	111433	NetSTCGAdjNetIncm
Other Income Rev And Expnss	-648	OtherIncomeRevAndExpnss
Total Revenue And Expenses	773852	TotalRevenueAndExpenses
Total Net Investment Income	194500	TotalNetInvestmentIncome
Total Adjusted Net Income	144061	TotalAdjustedNetIncome
Accounting Fees Rev And Expnss	3795	AccountingFeesRevAndExpnss
Accounting Fees Dsbrs Chrtbl Prps	3795	AccountingFeesDsbrsChrtblPrps
Interest Rev And Expnss	23420	InterestRevAndExpnss
Interest Net Invst Incm	23420	InterestNetInvstIncm
Other Expenses Rev And Expnss	76730	OtherExpensesRevAndExpnss
Other Expenses Net Invst Incm	76715	OtherExpensesNetInvstIncm
Tot Opr Expenses Rev And Expnss	103945	TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm	100135	TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps	3795	TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss	47845	ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps	47845	ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss	151790	TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm	100135	TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps	51640	TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses	622062	ExcessOfRevenueOverExpenses
Net Investment Income	94365	NetInvestmentIncome
Adjusted Net Income	144061	AdjustedNetIncome

Balance Sheets BalanceSheets

Field	Value	IRS element (for citing)
Cash BOY	26034	CashBOY
Cash EOY	24870	CashEOY
Cash EOYFMV	24870	CashEOYFMV
Investments Other BOY	1918463	InvestmentsOtherBOY
Investments Other EOY	2541689	InvestmentsOtherEOY
Investments Other EOYFMV	2541689	InvestmentsOtherEOYFMV
Total Assets BOY	1944497	TotalAssetsBOY
Total Assets EOY	2566559	TotalAssetsEOY
Total Assets EOYFMV	2566559	TotalAssetsEOYFMV
Total Liabilities EOY	0	TotalLiabilitiesEOY
Org That Do Not Follow SFAS117	X	OrgThatDoNotFollowSFAS117
Capital Stock BOY	1944497	CapitalStockBOY
Capital Stock EOY	2566559	CapitalStockEOY
Total Net Assets BOY	1944497	TotalNetAssetsBOY
Total Net Assets EOY	2566559	TotalNetAssetsEOY
Total Liabilities Net Assets BOY	1944497	TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY	2566559	TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

Field	Value	IRS element (for citing)
Total Net Assets Fund Balances BOY	1944497	TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses	622062	ExcessOfRevenueOverExpenses
Subtotal	2566559	Subtotal
Total Net Assets Fund Balances EOY	2566559	TotalNetAssetsFundBalancesEOY

Capital Gains And Losses CapitalGainsAndLosses

Capital Gains And Losses Info CapitalGainsAndLossesInfo (6 entries)

Description Of AssetDescriptionOfAsset	How AcquiredHowAcquired	Date AcquiredDateAcquired	Date SoldDateSold	Gross Sales PriceGrossSalesPrice	Gain Or LossGainOrLoss	Gains Minus Excess Or LossesGainsMinusExcessOrLosses
PLYMOUTH K-1	P	2012-12-01	2012-12-31	36309	36309	36309
PLYMOUTH ROCK K-1	P	2001-12-31	2012-12-31	7329	7329	7329
PLYMOUTH ROCK K-1	P	2012-12-01	2012-12-31	15576	15576	15576
PLYMOUTH ROCK K-1	P	2001-12-31	2012-12-01	23363	23363	23363
PLYMOUTH ROCK K-1	P	2001-12-31	2012-12-01	19747	19747	19747
PLYMOUTH ROCK K-1	P	2012-12-01	2012-12-01	37103	37103	37103

Field	Value	IRS element (for citing)
Capital Gain Net Income	161872	CapitalGainNetIncome
Net Short Term Capital Gain Or Loss	111433	NetShortTermCapitalGainOrLoss

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

Field	Value	IRS element (for citing)
Liable For4942 Tax	false	LiableFor4942Tax
Qualifying Distributions Year1	51427	QualifyingDistributionsYear1
Noncharitable Assets Year1	172069	NoncharitableAssetsYear1
Distribution Ratio Year1	0.29887	DistributionRatioYear1
Qualifying Distributions Year2	72427	QualifyingDistributionsYear2
Noncharitable Assets Year2	1925885	NoncharitableAssetsYear2
Distribution Ratio Year2	0.03761	DistributionRatioYear2
Qualifying Distributions Year3	73990	QualifyingDistributionsYear3
Noncharitable Assets Year3	1821219	NoncharitableAssetsYear3
Distribution Ratio Year3	0.04063	DistributionRatioYear3
Qualifying Distributions Year4	77397	QualifyingDistributionsYear4
Noncharitable Assets Year4	4339	NoncharitableAssetsYear4
Distribution Ratio Year4	17.83752	DistributionRatioYear4
Qualifying Distributions Year5	50185	QualifyingDistributionsYear5
Noncharitable Assets Year5	1982742	NoncharitableAssetsYear5
Distribution Ratio Year5	0.02531	DistributionRatioYear5
Total Distribution Ratio	18.23994	TotalDistributionRatio
Average Distribution Ratio	3.64799	AverageDistributionRatio
Net Noncharitable Assets	231650	NetNoncharitableAssets
Adjusted Noncharitable Assets	845056	AdjustedNoncharitableAssets
One Percent Net Investment Income	944	OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One	846000	AdjNonchrtblAssetsAndOnePct
Qualifying Distributions	51640	QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

Field	Value	IRS element (for citing)
Investment Income Excise Tax	1887	InvestmentIncomeExciseTax
Subtotal	1887	Subtotal
Tax Based On Investment Income	1887	TaxBasedOnInvestmentIncome
Est Tax Payments And Overpayment	2067	EstTaxPaymentsAndOverpayment
Total Credits And Payments	2067	TotalCreditsAndPayments
Overpayment	180	Overpayment
Amount Credited To Next Year	180	AmountCreditedToNextYear

Statements Regarding Activities StatementsRegardingActivities

Field	Value	IRS element (for citing)
Legislative Political Activities	false	LegislativePoliticalActivities
More Than100 Spent	false	MoreThan100Spent
Form1120 POL Filed	false	Form1120POLFiled
Activities Not Prev Reported	false	ActivitiesNotPrevReported
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylaws
Unrelated Bus Income Over1000	false	UnrelatedBusIncomeOver1000
Form990 T Filed	false	Form990TFiled
Termination Etc	false	TerminationEtc
Requirements Of Sect508e	false	RequirementsOfSect508e
At Least5000 In Assets	true	AtLeast5000InAssets
Form990 PF Filed With AG	true	Form990PFFiledWithAG
Private Operating Foundation	false	PrivateOperatingFoundation
New Substantial Contributors	false	NewSubstantialContributors
Interest In Controlled Entity	false	InterestInControlledEntity
Applicable Insurance Contract	false	ApplicableInsuranceContract
Comply With Public Inspection Rqr	true	ComplyWithPublicInspectionRqr
Website Address	N/A	WebsiteAddress

Books In Care Of Business Name BooksInCareOfBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	AURORA MANOLO	BusinessNameLine1

Field	Value	IRS element (for citing)
Books In Care Of Phone Number	3122740200	BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

Field	Value	IRS element (for citing)
Address Line1	980 N MICHGAN AVE	AddressLine1
City	CHICAGO	City
State	IL	State
ZIP Code	60611	ZIPCode

Field	Value	IRS element (for citing)
Foreign Bank	false	ForeignBank

Statements Regarding Acty4720 StatementsRegardingActy4720

Field	Value	IRS element (for citing)
Sale Or Exchange With Dsqfly Person	false	SaleOrExchangeWithDsqflyPerson
Borrow Or Lend With Dsqfly Person	false	BorrowOrLendWithDsqflyPerson
Furnished Goods With Dsqfly Person	false	FurnishedGoodsWithDsqflyPerson
Pay Compensation To Dsqfly Person	false	PayCompensationToDsqflyPerson
Transfer Assets To Dsqfly Person	false	TransferAssetsToDsqflyPerson
Payment To Government Offical	false	PaymentToGovernmentOffical
Acts Fail To Qualify As Exceptions	false	ActsFailToQualifyAsExceptions
Uncorrected Prior Acts	false	UncorrectedPriorActs
Undistributed Income Prior Years	false	UndistributedIncomePriorYears
Undistr Income4942a2 Not Applied	false	UndistrIncome4942a2NotApplied
Business Holdings	false	BusinessHoldings
Excess Business Holdings	false	ExcessBusinessHoldings
Jeopardy Investments	false	JeopardyInvestments
Uncorrected Jeopardy Investments	false	UncorrectedJeopardyInvestments
Influence Legislation	false	InfluenceLegislation
Influence Election	false	InfluenceElection
Grants To Individuals	false	GrantsToIndividuals
Grants To Organizations	false	GrantsToOrganizations
Noncharitable Purpose	false	NoncharitablePurpose
Tr Fail To Qualify As Exceptions	false	TrFailToQualifyAsExceptions
Maint Expend Responsibility	false	MaintExpendResponsibility
Rcv Funds To Pay Prsnl Bnft Contract	false	RcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft Contract	false	PayPremiumsPrsnlBnftContract
Prohibited Tax Shelter Transactn	false	ProhibitedTaxShelterTransactn
Proceeds Or Net Income	false	ProceedsOrNetIncome

Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo

Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (2 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	TitleTitle	Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition	CompensationCompensation
JONATHON TORSHEN
980 N MICHIGAN AVE	CHICAGO	IL	60611	Director	0.00	0
KAY TORSHEN
980 N MICHIGAN AVE	CHICAGO	IL	60611	Director	0.00	0

Field	Value	IRS element (for citing)
Comp Of Highest Paid Empl NONE	NONE	CompOfHighestPaidEmplNONE
Comp Of Hghst Paid Cntrct NONE	NONE	CompOfHghstPaidCntrctNONE

Minimum Investment Return MinimumInvestmentReturn

Field	Value	IRS element (for citing)
Avg Monthly FMV Of Securities	211807	AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances	23371	AvgMonthlyCashBalances
FMV All Other Noncharitable Assets	0	FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets	235178	TotalFMVOfUnusedAssets
Reduction Claimed	0	ReductionClaimed
Adj Total FMV Of Unused Assets	235178	AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable	3528	CashDeemedCharitable
Net Noncharitable Assets	231650	NetNoncharitableAssets
Minimum Investment Return	11583	MinimumInvestmentReturn

Distributable DistributableAmount

Field	Value	IRS element (for citing)
Minimum Investment Return	11583	MinimumInvestmentReturn
Tax Based On Investment Income	1887	TaxBasedOnInvestmentIncome
Total Tax	1887	TotalTax
Distributable Amount Before Adj	9696	DistributableAmountBeforeAdj
Distributable Amount Before Ded	9696	DistributableAmountBeforeDed
Distributable Amount As Adjusted	9696	DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

Field	Value	IRS element (for citing)
Expenses And Contributions	51640	ExpensesAndContributions
Qualifying Distributions	51640	QualifyingDistributions
Adj Qualifying Distributions	51640	AdjQualifyingDistributions

Undistributed Income UndistributedIncome

Field	Value	IRS element (for citing)
Distributable Amount As Adjusted	9696	DistributableAmountAsAdjusted
Excess Distri Carryover Year1	20669	ExcessDistriCarryoverYear1
Total Excess Distri Carryover	20669	TotalExcessDistriCarryover
Qualifying Distributions	51640	QualifyingDistributions
Treated As Distri From Corpus	0	TreatedAsDistriFromCorpus
Applied To Current Year	9696	AppliedToCurrentYear
Remaining Distri From Corpus	41944	RemainingDistriFromCorpus
Total Corpus	62613	TotalCorpus
Undistributed Income CY	0	UndistributedIncomeCY
Excess Distri Cyov To Next Year	62613	ExcessDistriCyovToNextYear
Excess From Year1	20669	ExcessFromYear1
Excess From Current Year	41944	ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

Field	Value	IRS element (for citing)
Only Contributes To Preselected	X	OnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (16 entries)

Address Line1RecipientUSAddress/AddressLine1	CityRecipientUSAddress/City	StateRecipientUSAddress/State	ZIP CodeRecipientUSAddress/ZIPCode	Recipient RelationshipRecipientRelationship	Recipient Foundation StatusRecipientFoundationStatus	Purpose Of Grant Or ContributionPurposeOfGrantOrContribution	AmountAmount
UNIVERSTY OF CHICAGO ART HISTIORY C
5540 S GREENWOOD AVE	CHICAGO	IL	60637	NONE	N/A	SAME AS ORG. 1	$2,500
Art Institute of Chicago
111 S Michigan Ave	CHICAGO	IL	60603	NONE	N/A	SAME AS ORG. 1	$5,000
Stefani's Children Foundation
1033 West Van Buren	Chicago	IL	60604	NONE	N/A	SAME AS ORG. 1	$1,600
St Judes Children Hospital
262 Danny Thoms PL	Memphis	TN	38105	NONE	N/A	SAME AS ORG. 1	$50
School of The Art Institute
37 South Wabash	CHICAGO	IL	60603	NONE	N/A	SAME AS ORG. 1	$4,770
CHICAGO INSTITUTE FOR PSYCHOANALYSI
122 S MICHIGAN	CHICAGO	IL	60603	NONE	N/A	SAME AS ORG. 1	$250
CFC-FFL USA
3311 Monterey ct	Renton	WA	98056	NONE	N/A	SAME AS ORG. 1	$6,000
CHICAGO COUNCIL ON GLOBAL AFFAIRS
332 S MICHIGAN	CHICAGO	IL	60604	NONE	N/A	SAME AS ORG. 1	$14,300
ILLINOIS HUMANITIES COUNCIL
17 N STATE STREET SUITE 1400	CHICAGO	IL	60602	NONE	N/A	SAME AS ORG. 1	$675
THE FORTNIGHTLY HISTORIC PRES FDN
120 EAST BELLEVUE PLACE	CHICAGO	IL	60611	NONE	N/A	SAME AS ORG. 1	$1,000
ACADEMY FOR URBAN SCHOOL LEADERS
3400 N AUSTIN	CHICAGO	IL	60634	NONE	N/A	same as org. 1	$6,000
CHICAGO COUNCIL SCIENCE AND TECHNOL
C/O IIT 10 W 35TH ST 10TH FLOOR	CHICAGO	IL	60616	NONE	N/A	SAME AS ORG. 1	$1,000
Fraternal Order Police
1412 W Washington Blvd	CHICAGO	IL	60607	NONE	N/A	SAME AS ORG 1.	$400
Chicago Sinai Congregation
15 West Delaware Place	Chicago	IL	60610	NONE	N/A	Same as Org 1	$1,800
University of Chicago Womens Board
401 N Michigan	Chicago	IL	60611	NONE	N/A	Same as Org. 1	$1,000
Museum of Contemporary Art
220 East Chicago Ave	Chicago	IL	60611	NONE	N/A	Same as Org. 1	$1,500

Field	Value	IRS element (for citing)
Tot Grant Or Contri Paid During Year	47845	TotGrantOrContriPaidDuringYear

Analysis Income Producing Acty AnalysisIncomeProducingActy

Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst

Field	Value	IRS element (for citing)
Exclusion Code	14	ExclusionCode
Exclusion	$19,895	ExclusionAmount

Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII

Field	Value	IRS element (for citing)
Exclusion Code	14	ExclusionCode
Exclusion	$12,733	ExclusionAmount

Net Rntl Incm Re Not Debt Fincd Prop NetRntlIncmReNotDebtFincdProp

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	-65	RelatedOrExemptFunctionIncome

Other Investment Income Part VII OtherInvestmentIncomePartVII

Field	Value	IRS element (for citing)
Exclusion	$648	ExclusionAmount

Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry

Field	Value	IRS element (for citing)
Related Or Exempt Function Income	161872	RelatedOrExemptFunctionIncome

Subtotals Part XVIA SubtotalsPartXVIA

Field	Value	IRS element (for citing)
Exclusion	$31,980	ExclusionAmount
Related Or Exempt Function Income	161807	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Part XVIA	193787	TotalPartXVIA

Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Noncharitable EO	false	TrnsfrOfCashToNoncharitableEO
Trnsfr Oth Assets Noncharitable EO	false	TrnsfrOthAssetsNoncharitableEO
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssets
Purchase Assets Noncharitable EO	false	PurchaseAssetsNoncharitableEO
Rental Of Facilities Etc	false	RentalOfFacilitiesEtc
Reimbursement Arrangements	false	ReimbursementArrangements
Loans Or Loan Guarantees	false	LoansOrLoanGuarantees
Performance Of Services Etc	false	PerformanceOfServicesEtc
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtc
Relationships Noncharitable E Os	false	RelationshipsNoncharitableEOs

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees AccountingFees

Field	Value	IRS element (for citing)
Amount	$3,795	Amount
Net Investment Income	0	NetInvestmentIncome
Adjusted Net Income	0	AdjustedNetIncome
Disbursements Charitable Prps	3795	DisbursementsCharitablePrps

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	Revenue And Expenses Per BooksRevenueAndExpensesPerBooks	Net Investment IncomeNetInvestmentIncome
FROM K-1	36135	36135
FROM K-1	18206	18206
FROM K-1	11686	11686
FROM K-1	10688	10688
FEES	15

Other Income Schedule2 OtherIncomeSchedule2

Other Income OtherIncome

Field	Value	IRS element (for citing)
Description	Other Investment Income	Description
Revenue And Expenses Per Books	-648	RevenueAndExpensesPerBooks