Michael Kenwood Foundation: Form 990PF, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: Michael Kenwood Foundation (EIN 45-0554206)
Tax period: 2010-01-01 to 2010-12-31
Filed: 2011-11-14
IRS object ID: 201113189349101711
Schema version: 2010v3.4
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
Depreciation Schedule
General Explanation Attachment
Land Etc Schedule2
Liquidation Explanation Stmt
Other Expenses Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-11-14T16:18:10-00:00	Timestamp
Tax Period End Date	2010-12-31	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	2010-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	450554206	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	Michael Kenwood Foundation	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	MICH	NameControl
Phone	2033278700	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	350 Bedford Street Room No 405	AddressLine1
City	Stamford	City
State	CT	State
ZIP Code	06901	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	Adela Illarramendi	Name
Title	President	Title
Date Signed	2011-11-14	DateSigned
Authorize Third Party	false	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Jeffrey D Haskell	Name
Phone	8008391754	Phone
Date Prepared	2011-11-14	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2010	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	101193	FMVAssetsEOY
Method Of Accounting Cash	X	MethodOfAccountingCash

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Received Rev And Expnss	142984	ContriReceivedRevAndExpnss
Interest On Savings Rev And Expnss	1050	InterestOnSavingsRevAndExpnss
Interest On Savings Net Invst Incm	1050	InterestOnSavingsNetInvstIncm
Capital Gain Net Incm Net Invst Incm	0	CapitalGainNetIncmNetInvstIncm
Total Revenue And Expenses	144034	TotalRevenueAndExpenses
Total Net Investment Income	1050	TotalNetInvestmentIncome
Taxes Rev And Expnss	4	TaxesRevAndExpnss
Deprec And Depletion Rev And Expnss	756	DeprecAndDepletionRevAndExpnss
Other Expenses Rev And Expnss	5077	OtherExpensesRevAndExpnss
Other Expenses Dsbrs Chrtbl Prps	5077	OtherExpensesDsbrsChrtblPrps
Tot Opr Expenses Rev And Expnss	5837	TotOprExpensesRevAndExpnss
Tot Opr Expenses Net Invst Incm	0	TotOprExpensesNetInvstIncm
Tot Opr Expenses Dsbrs Chrtbl Prps	5077	TotOprExpensesDsbrsChrtblPrps
Contri Gifts Paid Rev And Expnss	66000	ContriGiftsPaidRevAndExpnss
Contri Gifts Paid Dsbrs Chrtbl Prps	66000	ContriGiftsPaidDsbrsChrtblPrps
Total Expenses Rev And Expnss	71837	TotalExpensesRevAndExpnss
Total Expenses Net Invst Incm	0	TotalExpensesNetInvstIncm
Total Expenses Dsbrs Chrtbl Prps	71077	TotalExpensesDsbrsChrtblPrps
Excess Of Revenue Over Expenses	72197	ExcessOfRevenueOverExpenses
Net Investment Income	1050	NetInvestmentIncome

Balance Sheets BalanceSheets

Field	Value	IRS element (for citing)
Savings And Temp Cash Invst BOY	25671	SavingsAndTempCashInvstBOY
Savings And Temp Cash Invst EOY	98625	SavingsAndTempCashInvstEOY
Savings And Temp Cash Invst EOYFMV	98625	SavingsAndTempCashInvstEOYFMV
Land Building And Equipment Basis	4447	LandBuildingAndEquipmentBasis
Accum Deprec Land Bldg And Equip	1879	AccumDeprecLandBldgAndEquip
Land Building And Equipment BOY	3325	LandBuildingAndEquipmentBOY
Land Building And Equipment EOY	2568	LandBuildingAndEquipmentEOY
Land Building And Equipment EOYFMV	2568	LandBuildingAndEquipmentEOYFMV
Total Assets BOY	28996	TotalAssetsBOY
Total Assets EOY	101193	TotalAssetsEOY
Total Assets EOYFMV	101193	TotalAssetsEOYFMV
Total Liabilities EOY	0	TotalLiabilitiesEOY
Org That Do Not Follow SFAS117	X	OrgThatDoNotFollowSFAS117
Retained Earnings BOY	28996	RetainedEarningsBOY
Retained Earnings EOY	101193	RetainedEarningsEOY
Total Net Assets BOY	28996	TotalNetAssetsBOY
Total Net Assets EOY	101193	TotalNetAssetsEOY
Total Liabilities Net Assets BOY	28996	TotalLiabilitiesNetAssetsBOY
Total Liabilities Net Assets EOY	101193	TotalLiabilitiesNetAssetsEOY

Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances

Field	Value	IRS element (for citing)
Total Net Assets Fund Balances BOY	28996	TotalNetAssetsFundBalancesBOY
Excess Of Revenue Over Expenses	72197	ExcessOfRevenueOverExpenses
Subtotal	101193	Subtotal
Total Net Assets Fund Balances EOY	101193	TotalNetAssetsFundBalancesEOY

Qlfy Und Sect4940e For Reduced Tax QlfyUndSect4940eForReducedTax

Field	Value	IRS element (for citing)
Liable For4942 Tax	false	LiableFor4942Tax
Qualifying Distributions Year1	55516	QualifyingDistributionsYear1
Noncharitable Assets Year1	29545	NoncharitableAssetsYear1
Distribution Ratio Year1	001.879032	DistributionRatioYear1
Qualifying Distributions Year2	46947	QualifyingDistributionsYear2
Noncharitable Assets Year2	21360	NoncharitableAssetsYear2
Distribution Ratio Year2	002.197893	DistributionRatioYear2
Noncharitable Assets Year3	38	NoncharitableAssetsYear3
Total Distribution Ratio	004.076925	TotalDistributionRatio
Average Distribution Ratio	001.019231	AverageDistributionRatio
Net Noncharitable Assets	97289	NetNoncharitableAssets
Adjusted Noncharitable Assets	99160	AdjustedNoncharitableAssets
One Percent Net Investment Income	11	OnePercentNetInvestmentIncome
Adj Nonchrtbl Assets And One	99171	AdjNonchrtblAssetsAndOnePct
Qualifying Distributions	71077	QualifyingDistributions

Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm

Field	Value	IRS element (for citing)
Investment Income Excise Tax	21	InvestmentIncomeExciseTax
Subtotal	21	Subtotal
Tax Based On Investment Income	21	TaxBasedOnInvestmentIncome
Tax Paid With Extension	22	TaxPaidWithExtension
Total Credits And Payments	22	TotalCreditsAndPayments
Tax Paid Original Return	22	TaxPaidOriginalReturn
Overpayment	1	Overpayment
Amount Credited To Next Year	1	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	true	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	co 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 (11 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	TitleTitle	Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition	CompensationCompensation
Patrick J Finegan
350 Bedford Street Suite 405	Stamford	CT	06901	Executive Director removed from position 8/2010	001.00	0
Odo Habeck
350 Bedford Street Suite 405	Stamford	CT	06901	Treasurer	001.00	0
Adela M Illarramendi
350 Bedford Street Suite 405	Stamford	CT	06901	President / Director	001.00	0
Emma Illarramendi
350 Bedford Street Suite 405	Stamford	CT	06901	Director	001.00	0
Francisco Illarramendi
350 Bedford Street Suite 405	Stamford	CT	06901	Vice President / Director	001.00	0
John Peter Illarramendi
350 Bedford Street Suite 405	Stamford	CT	06901	Director	001.00	0
Pablo I Illarramendi
350 Bedford Street Suite 405	Stamford	CT	06901	Director	001.00	0
Ramon A Illarramendi
350 Bedford Street Suite 405	Stamford	CT	06901	Director	001.00	0
Patricia Strasser
350 Bedford Street Suite 405	Stamford	CT	06901	Director / Secretary	001.00	0
Ismael Virto
350 Bedford Street Suite 405	Stamford	CT	06901	Director	001.00	0
Jorge Pertierra
350 Bedford Street Suite 405	Stamford	CT	06901	Executive Director	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	0	AvgMonthlyFMVOfSecurities
Avg Monthly Cash Balances	98771	AvgMonthlyCashBalances
FMV All Other Noncharitable Assets	0	FMVAllOtherNoncharitableAssets
Total FMV Of Unused Assets	98771	TotalFMVOfUnusedAssets
Adj Total FMV Of Unused Assets	98771	AdjTotalFMVOfUnusedAssets
Cash Deemed Charitable	1482	CashDeemedCharitable
Net Noncharitable Assets	97289	NetNoncharitableAssets
Minimum Investment Return	4864	MinimumInvestmentReturn

Distributable DistributableAmount

Field	Value	IRS element (for citing)
Minimum Investment Return	4864	MinimumInvestmentReturn
Tax Based On Investment Income	21	TaxBasedOnInvestmentIncome
Total Tax	21	TotalTax
Distributable Amount Before Adj	4843	DistributableAmountBeforeAdj
Distributable Amount Before Ded	4843	DistributableAmountBeforeDed
Distributable Amount As Adjusted	4843	DistributableAmountAsAdjusted

Qualifying Distributions QualifyingDistributions

Field	Value	IRS element (for citing)
Expenses And Contributions	71077	ExpensesAndContributions
Qualifying Distributions	71077	QualifyingDistributions
Adj Qualifying Distributions	71077	AdjQualifyingDistributions

Undistributed Income UndistributedIncome

Field	Value	IRS element (for citing)
Distributable Amount As Adjusted	4843	DistributableAmountAsAdjusted
Excess Distri Carryover Year2	45883	ExcessDistriCarryoverYear2
Excess Distri Carryover Year1	54047	ExcessDistriCarryoverYear1
Total Excess Distri Carryover	99930	TotalExcessDistriCarryover
Qualifying Distributions	71077	QualifyingDistributions
Applied To Current Year	4843	AppliedToCurrentYear
Remaining Distri From Corpus	66234	RemainingDistriFromCorpus
Total Corpus	166164	TotalCorpus
Undistributed Income CY	0	UndistributedIncomeCY
Excess Distri Cyov To Next Year	166164	ExcessDistriCyovToNextYear
Excess From Year2	45883	ExcessFromYear2
Excess From Year1	54047	ExcessFromYear1
Excess From Current Year	66234	ExcessFromCurrentYear

Supplementary Information SupplementaryInformation

Field	Value	IRS element (for citing)
Contributing Manager	NONE	ContributingManager
Only Contributes To Preselected	X	OnlyContributesToPreselected

Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (7 entries)

Address Line1RecipientUSAddress/AddressLine1	CityRecipientUSAddress/City	StateRecipientUSAddress/State	ZIP CodeRecipientUSAddress/ZIPCode	Recipient RelationshipRecipientRelationship	Recipient Foundation StatusRecipientFoundationStatus	Purpose Of Grant Or ContributionPurposeOfGrantOrContribution	AmountAmount
ARTSTREAM INC
620 PERSHING DR	SILVER SPRING	MD	20910	N/A	509(a)(1)	General Unrestricted	$3,000
CATHOLIC RELIEF SERVICES INC
228 W LEXINGTON ST	BALTIMORE	MD	21201	N/A	509(a)(1)	Haiti Relief Fund	$10,000
CENTRO TEPEYAC INC
1315 APPLE AVE	SILVER SPRING	MD	20910	N/A	509(a)(1)	General Unrestricted	$5,000
HARAMBEE USA FOUNDATION
117 E 70TH ST	NEW YORK	NY	10021	N/A	509(a)(1)	General Unrestricted	$18,000
OPEN CIRCLE THEATRE INC
500 KING FARM BLVD APT 102	ROCKVILLE	MD	20850	N/A	509(a)(1)	General Unrestricted	$3,000
STRATHMORE UNIVERSITY FOUNDATION
20 NASSAU ST STE 232	PRINCETON	NJ	08542	N/A	509(a)(1)	St. John Eudes Project	$17,000
YOUTH LEADERSHIP FOUNDATION
4300 GARRISON ST NW	WASHINGTON	DC	20016	N/A	509(a)(1)	General Unrestricted	$10,000

Field	Value	IRS element (for citing)
Tot Grant Or Contri Paid During Year	66000	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	$1,050	ExclusionAmount

Subtotals Part XVIA SubtotalsPartXVIA

Field	Value	IRS element (for citing)
Exclusion	$1,050	ExclusionAmount

Field	Value	IRS element (for citing)
Total Part XVIA	1050	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	MK Special Opportunities Fund Ltd	ContributorNameIndividual

Contributor Address US ContributorAddressUS

Field	Value	IRS element (for citing)
Address Line1	co Odo G Habeck 350 Bedford St Ste	AddressLine1
City	Stamford	City
State	CT	State
ZIP Code	06901	ZIPCode

Field	Value	IRS element (for citing)
Aggregate Contributions	142984	AggregateContributions
Person Contribution Type	X	PersonContributionType

Depreciation Schedule DepreciationSchedule

Depreciation Depreciation (2 entries)

Description Of PropertyDescriptionOfProperty	Date AcquiredDateAcquired	Cost Or Other BasisCostOrOtherBasis	Prior Years DepreciationPriorYearsDepreciation	Computation MethodComputationMethod	LifeLife	Current Year ExpenseCurrentYearExpense
Furniture and Office Equipment	2008-04-08	2349	546	SL	007	336
Computer	2008-09-30	2098	577	SL	005	420

General Explanation Attachment GeneralExplanationAttachment

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtc (2 entries)

Category Or ItemCategoryOrItem	Cost Or Other BasisCostOrOtherBasis	Accumulated DepreciationAccumulatedDepreciation	Book ValueBookValue	EOYFMVEOYFMV
Furniture and Office Equipment	2349	882	1467	1467
Computer	2098	997	1101	1101

Liquidation Explanation Stmt LiquidationExplanationStmt

Field	Value	IRS element (for citing)
Statement	This statement is submitted to report the distribution of certain assets during the above-referenced year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3a1 and the Form 990-PF instructions During the taxable year ending December 31, 2010, Michael Kenwood Foundation the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled 66,000. This amount represents over 25 of the Foundations net assets of 28,996 as measured by fair market value at the beginning of the Foundations taxable year ending December 31, 2010. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XV, Line 3a each such grant was made solely for the charitable purpose specified therein.	Statement

Other Expenses Schedule OtherExpensesSchedule

Other Expenses OtherExpenses (2 entries)

DescriptionDescription	Revenue And Expenses Per BooksRevenueAndExpensesPerBooks	Disbursements Charitable PrpsDisbursementsCharitablePrps
Administrative Fees	5052	5052
State or Local Filing Fees	25	25

Taxes Schedule TaxesSchedule

Taxes Taxes

Field	Value	IRS element (for citing)
Category	Excise Tax for 2009	Category
Amount	$4	Amount
Net Investment Income	0	NetInvestmentIncome
Adjusted Net Income	0	AdjustedNetIncome
Disbursements Charitable Prps	0	DisbursementsCharitablePrps