WATTS FAMILY FOUNDATION: Form 990PF, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- WATTS FAMILY FOUNDATION (EIN 20-1944745)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-07
- IRS object ID
- 201241309349101604
- 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 | 2012-05-07T15:39:41-00:00 | 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 | Foundation Source | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 55 Walls Drive | AddressLine1 |
| City | Fairfield | City |
| State | CT | State |
| ZIP Code | 06824 | 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 | 201944745 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Watts Family Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | WATT | NameControl |
| Phone | 8008391754 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Richard Watts | Name |
| Title | President | Title |
| Date Signed | 2012-05-07 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Jeffrey D Haskell | Name |
| Phone | 8008391754 | Phone |
| Date Prepared | 2012-05-07 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exempt PF | X | ExemptPF |
| FMV Assets EOY | 14267 | FMVAssetsEOY |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Received Rev And Expnss | 10000 | ContriReceivedRevAndExpnss |
| Dividends Rev And Expnss | 7 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 7 | DividendsNetInvstIncm |
| Net Gain Sale Assets Rev And Expnss | 36 | NetGainSaleAssetsRevAndExpnss |
| Gross Sales Price | 2314 | GrossSalesPrice |
| Capital Gain Net Incm Net Invst Incm | 36 | CapitalGainNetIncmNetInvstIncm |
| Total Revenue And Expenses | 10043 | TotalRevenueAndExpenses |
| Total Net Investment Income | 43 | TotalNetInvestmentIncome |
| Other Expenses Rev And Expnss | 2297 | OtherExpensesRevAndExpnss |
| Other Expenses Dsbrs Chrtbl Prps | 2297 | OtherExpensesDsbrsChrtblPrps |
| Tot Opr Expenses Rev And Expnss | 2297 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 0 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 2297 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 750 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 750 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 3047 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 0 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 3047 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 6996 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 43 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 5000 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 14267 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 14267 | SavingsAndTempCashInvstEOYFMV |
| Investments Corp Stock BOY | 2271 | InvestmentsCorpStockBOY |
| Total Assets BOY | 7271 | TotalAssetsBOY |
| Total Assets EOY | 14267 | TotalAssetsEOY |
| Total Assets EOYFMV | 14267 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 7271 | RetainedEarningsBOY |
| Retained Earnings EOY | 14267 | RetainedEarningsEOY |
| Total Net Assets BOY | 7271 | TotalNetAssetsBOY |
| Total Net Assets EOY | 14267 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 7271 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 14267 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 7271 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 6996 | ExcessOfRevenueOverExpenses |
| Subtotal | 14267 | Subtotal |
| Total Net Assets Fund Balances EOY | 14267 | TotalNetAssetsFundBalancesEOY |
Capital Gains And Losses CapitalGainsAndLosses
Capital Gains And Losses Info CapitalGainsAndLossesInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Of Asset | Publicly-traded Securities | DescriptionOfAsset |
| Gross Sales Price | 2314 | GrossSalesPrice |
| Cost Or Other Basis | 2278 | CostOrOtherBasis |
| Gain Or Loss | 36 | GainOrLoss |
| Gains Minus Excess Or Losses | 36 | GainsMinusExcessOrLosses |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | 36 | CapitalGainNetIncome |
Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable For4942 Tax | false | LiableFor4942Tax |
| Qualifying Distributions Year1 | 2331 | QualifyingDistributionsYear1 |
| Noncharitable Assets Year1 | 8119 | NoncharitableAssetsYear1 |
| Distribution Ratio Year1 | 000.287104 | DistributionRatioYear1 |
| Qualifying Distributions Year2 | 2811 | QualifyingDistributionsYear2 |
| Noncharitable Assets Year2 | 10839 | NoncharitableAssetsYear2 |
| Distribution Ratio Year2 | 000.259341 | DistributionRatioYear2 |
| Qualifying Distributions Year3 | 2255 | QualifyingDistributionsYear3 |
| Noncharitable Assets Year3 | 7722 | NoncharitableAssetsYear3 |
| Distribution Ratio Year3 | 000.292023 | DistributionRatioYear3 |
| Qualifying Distributions Year4 | 3388 | QualifyingDistributionsYear4 |
| Noncharitable Assets Year4 | 10954 | NoncharitableAssetsYear4 |
| Distribution Ratio Year4 | 000.309293 | DistributionRatioYear4 |
| Qualifying Distributions Year5 | 2291 | QualifyingDistributionsYear5 |
| Noncharitable Assets Year5 | 13015 | NoncharitableAssetsYear5 |
| Distribution Ratio Year5 | 000.176028 | DistributionRatioYear5 |
| Total Distribution Ratio | 001.323789 | TotalDistributionRatio |
| Average Distribution Ratio | 000.264758 | AverageDistributionRatio |
| Net Noncharitable Assets | 6404 | NetNoncharitableAssets |
| Adjusted Noncharitable Assets | 1696 | AdjustedNoncharitableAssets |
| Adj Nonchrtbl Assets And One | 1696 | AdjNonchrtblAssetsAndOnePct |
| Qualifying Distributions | 3047 | QualifyingDistributions |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | X | DomesticOrgMeetingSect4940e |
| Investment Income Excise Tax | 0 | InvestmentIncomeExciseTax |
| Est Tax Payments And Overpayment | 83 | EstTaxPaymentsAndOverpayment |
| Total Credits And Payments | 83 | TotalCreditsAndPayments |
| Tax Paid Original Return | 83 | TaxPaidOriginalReturn |
| Overpayment | 83 | Overpayment |
| Amount Credited To Next Year | 83 | 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 |
Books In Care Of Business Name BooksInCareOfBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Books In Care Of Phone Number | 8008391754 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 Silverside Road Suite 123 | AddressLine1 |
| City | Wilmington | City |
| State | DE | State |
| ZIP Code | 198091377 | 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 |
| Pay Premiums Prsnl Bnft Contract | false | PayPremiumsPrsnlBnftContract |
| Prohibited Tax Shelter Transactn | false | ProhibitedTaxShelterTransactn |
| Proceeds Or Net Income | true | 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 |
|---|---|---|---|---|---|---|
| Debbie Watts | ||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 19809 | Vice President | 001.00 | 0 |
| Richard Watts | ||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 19809 | President / Director / Secretary | 001.00 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 195 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 6307 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 6502 | TotalFMVOfUnusedAssets |
| Adj Total FMV Of Unused Assets | 6502 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 98 | CashDeemedCharitable |
| Net Noncharitable Assets | 6404 | NetNoncharitableAssets |
| Minimum Investment Return | 320 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 320 | MinimumInvestmentReturn |
| Distributable Amount Before Adj | 320 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 320 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 320 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 3047 | ExpensesAndContributions |
| Qualifying Distributions | 3047 | QualifyingDistributions |
| Adj Qualifying Distributions | 3047 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 320 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year5 | 1648 | ExcessDistriCarryoverYear5 |
| Excess Distri Carryover Year4 | 2850 | ExcessDistriCarryoverYear4 |
| Excess Distri Carryover Year3 | 1872 | ExcessDistriCarryoverYear3 |
| Excess Distri Carryover Year2 | 2269 | ExcessDistriCarryoverYear2 |
| Excess Distri Carryover Year1 | 1929 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 10568 | TotalExcessDistriCarryover |
| Qualifying Distributions | 3047 | QualifyingDistributions |
| Applied To Current Year | 320 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 2727 | RemainingDistriFromCorpus |
| Total Corpus | 13295 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov From Year5 | 1648 | ExcessDistriCyovFromYear5 |
| Excess Distri Cyov To Next Year | 11647 | ExcessDistriCyovToNextYear |
| Excess From Year4 | 2850 | ExcessFromYear4 |
| Excess From Year3 | 1872 | ExcessFromYear3 |
| Excess From Year2 | 2269 | ExcessFromYear2 |
| Excess From Year1 | 1929 | ExcessFromYear1 |
| Excess From Current Year | 2727 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Debbie Watts | ContributingManager |
| Contributing Manager | Richard Watts | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | OPTIMIST INTERNATIONAL FOUNDATION | BusinessNameLine1 |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 831 | AddressLine1 |
| City | DOWNEY | City |
| State | CA | State |
| ZIP Code | 90241 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Relationship | N/A | RecipientRelationship |
| Recipient Foundation Status | 509(a)(1) | RecipientFoundationStatus |
| Purpose Of Grant Or Contribution | General Unrestricted | PurposeOfGrantOrContribution |
| Amount | $750 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 750 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $7 | ExclusionAmount |
Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 18 | ExclusionCode |
| Exclusion | $36 | ExclusionAmount |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $43 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 43 | 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 | 0001 | ContributorNumber |
| Contributor Name Individual | Watts Richard | ContributorNameIndividual |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1602 E Fourth St | AddressLine1 |
| City | Santa Ana | City |
| State | CA | State |
| ZIP Code | 92701 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | 10000 | AggregateContributions |
| Person Contribution Type | X | PersonContributionType |
General Explanation Attachment GeneralExplanationAttachment
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | Revenue And Expenses Per BooksRevenueAndExpensesPerBooks | Disbursements Charitable PrpsDisbursementsCharitablePrps |
|---|---|---|
| Administrative Fees | 2272 | 2272 |
| State or Local Filing Fees | 25 | 25 |