THE KARP FAMILY FOUNDATION: Form 990PF, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: THE KARP FAMILY FOUNDATION (EIN 65-6457023)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-11-15
IRS object ID: 201333199349101723
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
Schedule B
Other Increases Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-11-15T12:24:09-08:00	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	ORACLE ADVISORY SERVICES LLC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	110 GREENE ST SUITE 1100	AddressLine1
City	NEW YORK	City
State	NY	State
ZIP Code	100123824	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	656457023	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	THE KARP FAMILY FOUNDATION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	KARP	NameControl
Phone	9175929394	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	326 ROUND HILL RD	AddressLine1
City	GREENWICH	City
State	CT	State
ZIP Code	06831	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	JASON H KARP	Name
Title	TRUSTEE	Title
Phone	9175929394	Phone
Date Signed	2013-08-06	DateSigned

Preparer Preparer

Field	Value	IRS element (for citing)
Name	JASON T EOANIDIS CPA	Name
Phone	2128569594	Phone

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Exempt PF	X	ExemptPF
FMV Assets EOY	29086	FMVAssetsEOY
Method Of Accounting Cash	X	MethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Received Rev And Expnss	39360	ContriReceivedRevAndExpnss
Capital Gain Net Incm Net Invst Incm	16498	CapitalGainNetIncmNetInvstIncm
Net STCG Adj Net Incm	16498	NetSTCGAdjNetIncm
Total Revenue And Expenses	39360	TotalRevenueAndExpenses
Total Net Investment Income	16498	TotalNetInvestmentIncome
Total Adjusted Net Income	16498	TotalAdjustedNetIncome
Tot Opr Expenses Rev And Expnss	0	TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm	0	TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps	0	TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss	25000	ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps	0	ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss	25000	TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm	0	TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps	0	TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses	14360	ExcessOfRevenueOverExpenses
Net Investment Income	16498	NetInvestmentIncome
Adjusted Net Income	16498	AdjustedNetIncome

Balance Sheets BalanceSheets

Field	Value	IRS element (for citing)
Cash BOY	11171	CashBOY
Cash EOY	29086	CashEOY
Cash EOYFMV	29086	CashEOYFMV
Total Assets BOY	11171	TotalAssetsBOY
Total Assets EOY	29086	TotalAssetsEOY
Total Assets EOYFMV	29086	TotalAssetsEOYFMV
Total Liabilities EOY	0	TotalLiabilitiesEOY
Org That Do Not Follow SFAS117	X	OrgThatDoNotFollowSFAS117
Retained Earnings BOY	11171	RetainedEarningsBOY
Retained Earnings EOY	29086	RetainedEarningsEOY
Total Net Assets BOY	11171	TotalNetAssetsBOY
Total Net Assets EOY	29086	TotalNetAssetsEOY
Total Liabilities Net Assets BOY	11171	TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY	29086	TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

Field	Value	IRS element (for citing)
Total Net Assets Fund Balances BOY	11171	TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses	14360	ExcessOfRevenueOverExpenses
Other Increases	3555	OtherIncreases
Subtotal	29086	Subtotal
Total Net Assets Fund Balances EOY	29086	TotalNetAssetsFundBalancesEOY

Capital Gains And Losses CapitalGainsAndLosses

Capital Gains And Losses Info CapitalGainsAndLossesInfo (2 entries)

Description Of AssetDescriptionOfAsset	How AcquiredHowAcquired	Date AcquiredDateAcquired	Date SoldDateSold	Gross Sales PriceGrossSalesPrice	DepreciationDepreciation	Cost Or Other BasisCostOrOtherBasis	Gain Or LossGainOrLoss	FMV As Of123169FMVAsOf123169	Adjusted Basis As Of123169AdjustedBasisAsOf123169	Excess Of FMV Over Adjusted BasisExcessOfFMVOverAdjustedBasis	Gains Minus Excess Or LossesGainsMinusExcessOrLosses
1000 SHARES SUNRISE SENIOR LIVING INC	D	2012-06-06	2012-12-26	14386	0	6139	8247	0	0	0	8247
1000 SHARES SUNRISE SENIOR LIVING INC	D	2012-06-06	2012-12-28	14390	0	6139	8251	0	0	0	8251

Field	Value	IRS element (for citing)
Capital Gain Net Income	16498	CapitalGainNetIncome
Net Short Term Capital Gain Or Loss	16498	NetShortTermCapitalGainOrLoss

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

Field	Value	IRS element (for citing)
Qualifying Distributions Year1	20500	QualifyingDistributionsYear1
Noncharitable Assets Year1	6252	NoncharitableAssetsYear1
Distribution Ratio Year1	3.278951	DistributionRatioYear1
Qualifying Distributions Year2	42000	QualifyingDistributionsYear2
Noncharitable Assets Year2	2061	NoncharitableAssetsYear2
Distribution Ratio Year2	20.378457	DistributionRatioYear2
Qualifying Distributions Year3	72000	QualifyingDistributionsYear3
Noncharitable Assets Year3	110702	NoncharitableAssetsYear3
Distribution Ratio Year3	0.650395	DistributionRatioYear3
Qualifying Distributions Year4	115500	QualifyingDistributionsYear4
Noncharitable Assets Year4	195316	NoncharitableAssetsYear4
Distribution Ratio Year4	0.591349	DistributionRatioYear4
Qualifying Distributions Year5	216647	QualifyingDistributionsYear5
Noncharitable Assets Year5	71197	NoncharitableAssetsYear5
Distribution Ratio Year5	3.042923	DistributionRatioYear5
Total Distribution Ratio	27.942075	TotalDistributionRatio
Average Distribution Ratio	5.588415	AverageDistributionRatio
Net Noncharitable Assets	7181	NetNoncharitableAssets
Adjusted Noncharitable Assets	40130	AdjustedNoncharitableAssets
One Percent Net Investment Income	165	OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One	40295	AdjNonchrtblAssetsAndOnePct
Qualifying Distributions	0	QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

Field	Value	IRS element (for citing)
Investment Income Excise Tax	330	InvestmentIncomeExciseTax
Tax Under Section511	0	TaxUnderSection511
Subtotal	330	Subtotal
Tax Based On Investment Income	330	TaxBasedOnInvestmentIncome
Tax Paid Original Return	0	TaxPaidOriginalReturn
Tax Due	330	TaxDue
Amount Credited To Next Year	0	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
Termination Etc	false	TerminationEtc
Requirements Of Sect508e	true	RequirementsOfSect508e
At Least5000 In Assets	true	AtLeast5000InAssets
States Filed With	CT	StatesFiledWith
Form990 PF Filed With AG	true	Form990PFFiledWithAG
Private Operating Foundation	false	PrivateOperatingFoundation
New Substantial Contributors	true	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	ORACLE ADVISORY SERVICES LLC	BusinessNameLine1

Field	Value	IRS element (for citing)
Books In Care Of Phone Number	2128569594	BooksInCareOfPhoneNumber

Books In Care Of US Address BooksInCareOfUSAddress

Field	Value	IRS element (for citing)
Address Line1	110 GREENE STREET SUITE 1100	AddressLine1
City	NEW YORK	City
State	NY	State
ZIP Code	10012	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
Uncorrected Prior Acts	false	UncorrectedPriorActs
Undistributed Income Prior Years	false	UndistributedIncomePriorYears
Business Holdings	false	BusinessHoldings
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
Rcv Funds To Pay Prsnl Bnft Contract	false	RcvFundsToPayPrsnlBnftContract
Pay Premiums Prsnl Bnft Contract	false	PayPremiumsPrsnlBnftContract
Prohibited Tax Shelter Transactn	false	ProhibitedTaxShelterTransactn

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	Contri To Empl Benefit Plans EtcContriToEmplBenefitPlansEtc	Expense Account Other AllowancesExpenseAccountOtherAllowances
JESSICA KARP
326 ROUND HILL ROAD	GREENWICH	CT	06831	TRUSTEE	0	0	0	0
JASON KARP
326 ROUND HILL ROAD	GREENWICH	CT	06831	TRUSTEE	0	0	0	0

Field	Value	IRS element (for citing)
Comp Of Highest Paid Empl NONE	NONE	CompOfHighestPaidEmplNONE
Tot Number Of Oth Empl Paid Over50k	0	TotNumberOfOthEmplPaidOver50k
Comp Of Hghst Paid Cntrct NONE	NONE	CompOfHghstPaidCntrctNONE
Tot Number Of Cntrct Paid Over50k	0	TotNumberOfCntrctPaidOver50k

Minimum Investment Return MinimumInvestmentReturn

Field	Value	IRS element (for citing)
Avg Monthly FMV Of Securities	0	AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances	7290	AvgMonthlyCashBalances
FMV All Other Noncharitable Assets	0	FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets	7290	TotalFMVOfUnusedAssets
Adj Total FMV Of Unused Assets	7290	AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable	109	CashDeemedCharitable
Net Noncharitable Assets	7181	NetNoncharitableAssets
Minimum Investment Return	359	MinimumInvestmentReturn

Distributable DistributableAmount

Field	Value	IRS element (for citing)
Minimum Investment Return	359	MinimumInvestmentReturn
Tax Based On Investment Income	330	TaxBasedOnInvestmentIncome
Total Tax	330	TotalTax
Distributable Amount Before Adj	29	DistributableAmountBeforeAdj
Distributable Amount Before Ded	29	DistributableAmountBeforeDed
Distributable Amount As Adjusted	29	DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

Field	Value	IRS element (for citing)
Expenses And Contributions	0	ExpensesAndContributions

Undistributed Income UndistributedIncome

Field	Value	IRS element (for citing)
Distributable Amount As Adjusted	29	DistributableAmountAsAdjusted
Undistributed Income Prior Year	313	UndistributedIncomePriorYear
Excess Distri Carryover Year5	214237	ExcessDistriCarryoverYear5
Excess Distri Carryover Year4	107354	ExcessDistriCarryoverYear4
Excess Distri Carryover Year3	66509	ExcessDistriCarryoverYear3
Excess Distri Carryover Year2	42000	ExcessDistriCarryoverYear2
Excess Distri Carryover Year1	20500	ExcessDistriCarryoverYear1
Total Excess Distri Carryover	450600	TotalExcessDistriCarryover
Total Corpus	450600	TotalCorpus
Taxable Amount2	313	TaxableAmount2
Undistributed Income CY	29	UndistributedIncomeCY
Excess Distri Cyov From Year5	214237	ExcessDistriCyovFromYear5
Excess Distri Cyov To Next Year	236363	ExcessDistriCyovToNextYear
Excess From Year4	107354	ExcessFromYear4
Excess From Year3	66509	ExcessFromYear3
Excess From Year2	42000	ExcessFromYear2
Excess From Year1	20500	ExcessFromYear1

Supplementary Information SupplementaryInformation

Field	Value	IRS element (for citing)
Contributing Manager	JASON H KARP	ContributingManager
Shareholder Manager	NONE	ShareholderManager
Only Contributes To Preselected	X	OnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (5 entries)

Address Line1RecipientUSAddress/AddressLine1	CityRecipientUSAddress/City	StateRecipientUSAddress/State	ZIP CodeRecipientUSAddress/ZIPCode	Recipient Foundation StatusRecipientFoundationStatus	Purpose Of Grant Or ContributionPurposeOfGrantOrContribution	AmountAmount
HEBREW HEALTHCARE
1 ABRAHMS BLVD	WEST HARTFORD	CT	06117	SEC 509(A)(1)	GENERAL PURPOSE	$5,000
LOOMIS CHAFFEE
4 BATCHELDER RD	WINDSOR	CT	06095	SEC 509(A)(1)	GENERAL PURPOSE	$15,000
UNIVERSITY OF PENN
423 GUARDIAN DRIVE 175	PHILADELPHIA	PA	19104	SEC 509(A)(1)	GENERAL PURPOSE	$5,000
(no name)
						$0
(no name)
						$0

Field	Value	IRS element (for citing)
Tot Grant Or Contri Paid During Year	25000	TotGrantOrContriPaidDuringYear

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

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	X	Organization501c3ExemptPF
General Rule	X	GeneralRule

Contributor Info ContributorInfo (2 entries)

Contributor NumberContributorNumber	Contributor Name IndividualContributorNameIndividual	Address Line1ContributorAddressUS/AddressLine1	CityContributorAddressUS/City	StateContributorAddressUS/State	ZIP CodeContributorAddressUS/ZIPCode	Aggregate ContributionsAggregateContributions	Person Contribution TypePersonContributionType	Noncash Contribution TypeNoncashContributionType
1	JASON AND JESSICA KARP	326 ROUND HILL ROAD	GREENWICH	CT	06831	10000	X
2	JASON AND JESSICA KARP	326 ROUND HILL ROAD	GREENWICH	CT	06831	29360		X

Noncash Property NoncashProperty

Field	Value	IRS element (for citing)
Contributor Number From Part I	2	ContributorNumberFromPartI
Noncash Property Description	2,000 SHARES OF SUNRISE SENIOR LIVING (SRZ)	NoncashPropertyDescription
Fair Market Value	29360	FairMarketValue
Date Received	2012-12-28	DateReceived

Other Increases Schedule OtherIncreasesSchedule

Other Increases OtherIncreases

Field	Value	IRS element (for citing)
Description	TIMING DIFFERENCES	Description
Amount	$3,555	Amount