THE KARP FAMILY FOUNDATION: Form 990PF, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- THE KARP FAMILY FOUNDATION (EIN 65-6457023)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2013-01-29
- IRS object ID
- 201340299349100104
- Schema version
- 2011v1.2
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-01-29T12:40:53-08:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | 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 | 2011-01-01 | 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 | 2013-01-29 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
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 | 2011 | 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 | 15309 | FMVAssetsEOY |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Received Rev And Expnss | 20000 | ContriReceivedRevAndExpnss |
| Interest On Savings Rev And Expnss | 2 | InterestOnSavingsRevAndExpnss |
| Capital Gain Net Incm Net Invst Incm | 0 | CapitalGainNetIncmNetInvstIncm |
| Total Revenue And Expenses | 20002 | TotalRevenueAndExpenses |
| Total Net Investment Income | 0 | TotalNetInvestmentIncome |
| 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 | 20500 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 20500 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 20500 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 0 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 20500 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | -498 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 0 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | 11669 | CashBOY |
| Cash EOY | 11171 | CashEOY |
| Cash EOYFMV | 15309 | CashEOYFMV |
| Total Assets BOY | 11669 | TotalAssetsBOY |
| Total Assets EOY | 11171 | TotalAssetsEOY |
| Total Assets EOYFMV | 15309 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 11669 | RetainedEarningsBOY |
| Retained Earnings EOY | 11171 | RetainedEarningsEOY |
| Total Net Assets BOY | 11669 | TotalNetAssetsBOY |
| Total Net Assets EOY | 11171 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 11669 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 11171 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 11669 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | -498 | ExcessOfRevenueOverExpenses |
| Subtotal | 11171 | Subtotal |
| Total Net Assets Fund Balances EOY | 11171 | TotalNetAssetsFundBalancesEOY |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Qualifying Distributions Year1 | 42000 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 2061 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 20.378457 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 72000 | QualifyingDistributionsYear2 |
| Noncharitable Assets Year2 | 110702 | NoncharitableAssetsYear2 |
| Distribution Ratio Year2 | 0.650395 | DistributionRatioYear2 |
| Qualifying Distributions Year3 | 115500 | QualifyingDistributionsYear3 |
| Noncharitable Assets Year3 | 195316 | NoncharitableAssetsYear3 |
| Distribution Ratio Year3 | 0.591349 | DistributionRatioYear3 |
| Qualifying Distributions Year4 | 216647 | QualifyingDistributionsYear4 |
| Noncharitable Assets Year4 | 71197 | NoncharitableAssetsYear4 |
| Distribution Ratio Year4 | 3.042923 | DistributionRatioYear4 |
| Qualifying Distributions Year5 | 3919 | QualifyingDistributionsYear5 |
| Noncharitable Assets Year5 | 1794 | NoncharitableAssetsYear5 |
| Distribution Ratio Year5 | 2.184504 | DistributionRatioYear5 |
| Total Distribution Ratio | 26.847628 | TotalDistributionRatio |
| Average Distribution Ratio | 5.369526 | AverageDistributionRatio |
| Net Noncharitable Assets | 6252 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 33570 | AdjustedNoncharitableAssets |
| Adj Nonchrtbl Assets And One | 33570 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 20500 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | 0 | InvestmentIncomeExciseTax |
| Tax Under Section511 | 0 | TaxUnderSection511 |
| Tax Based On Investment Income | 0 | TaxBasedOnInvestmentIncome |
| 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 |
| 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 | 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 | 6347 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 6347 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 6347 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 95 | CashDeemedCharitable |
| Net Noncharitable Assets | 6252 | NetNoncharitableAssets |
| Minimum Investment Return | 313 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 313 | MinimumInvestmentReturn |
| Distributable Amount Before Adj | 313 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 313 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 313 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 20500 | ExpensesAndContributions |
| Qualifying Distributions | 20500 | QualifyingDistributions |
| Adj Qualifying Distributions | 20500 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 313 | DistributableAmountAsAdjusted |
| Undistributed Income Prior Year | 103 | UndistributedIncomePriorYear |
| Excess Distri Carryover Year5 | 3829 | ExcessDistriCarryoverYear5 |
| Excess Distri Carryover Year4 | 214237 | ExcessDistriCarryoverYear4 |
| Excess Distri Carryover Year3 | 107354 | ExcessDistriCarryoverYear3 |
| Excess Distri Carryover Year2 | 66509 | ExcessDistriCarryoverYear2 |
| Excess Distri Carryover Year1 | 42000 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 433929 | TotalExcessDistriCarryover |
| Qualifying Distributions | 20500 | QualifyingDistributions |
| Remaining Distri From Corpus | 20500 | RemainingDistriFromCorpus |
| Total Corpus | 454429 | TotalCorpus |
| Taxable Amount2 | 103 | TaxableAmount2 |
| Undistributed Income CY | 313 | UndistributedIncomeCY |
| Excess Distri Cyov From Year5 | 3829 | ExcessDistriCyovFromYear5 |
| Excess Distri Cyov To Next Year | 450600 | ExcessDistriCyovToNextYear |
| Excess From Year4 | 214237 | ExcessFromYear4 |
| Excess From Year3 | 107354 | ExcessFromYear3 |
| Excess From Year2 | 66509 | ExcessFromYear2 |
| Excess From Year1 | 42000 | ExcessFromYear1 |
| Excess From Current Year | 20500 | ExcessFromCurrentYear |
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 |
|---|---|---|---|---|---|---|
| HORACE MANN SCHOOL | ||||||
| 231 WEST 246TH STREET | BRONX | NY | 10471 | SEC 509(A)(1) | GENERAL PURPOSE | $5,000 |
| CONGREGATION EMANUE-EL | ||||||
| ONE EAST SIXTY-FIFTH STREET | NEW YORK | NY | 10065 | SEC 509(A)(1) | GENERAL PURPOSE | $2,500 |
| THE HOPE PROGRAM | ||||||
| ONE SMITH STREET | BROOKLYN | NY | 112015111 | SEC 509(A)(1) | GENERAL PURPOSE | $500 |
| UNIVERSITY OF PENN | ||||||
| 423 GUARDIAN DRIVE 175 | PHILADELPHIA | PA | 19104 | SEC 509(A)(1) | GENERAL PURPOSE | $10,000 |
| TRUSTEE OF THE UNIVERSITY | ||||||
| DETAILS AVAIABLE UPON REQUEST | NA | NY | 10012 | SEC 509(A)(1) | GENERAL PURPOSE | $2,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 20500 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Int On Savings And Temp Cash Invst IntOnSavingsAndTempCashInvst
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Code | 900099 | BusinessCode |
| Unrelated Business Income | $2 | UnrelatedBusinessIncomeAmount |
| Exclusion Code | 14 | ExclusionCode |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Income | $2 | UnrelatedBusinessIncomeAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 2 | 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 |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | X | Organization501c3ExemptPF |
| General Rule | X | GeneralRule |
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | 1 | ContributorNumber |
| Contributor Name Individual | JASON AND JESSICA KARP | ContributorNameIndividual |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 326 ROUND HILL ROAD | AddressLine1 |
| City | GREENWICH | City |
| State | CT | State |
| ZIP Code | 06831 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | 20000 | AggregateContributions |
| Person Contribution Type | X | PersonContributionType |