Attach to Form 990 or Form 990-EZ.
Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
| (i)Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
| (A)
PRINCETON UNIVERSITY PRESS |
210634483 | 05 | No | 0 | 0 | |
| (B)
UNIVERSITY OF CALIFORNIA PRESS |
943067788 | 05 | No | 0 | 0 | |
Total 2
|
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Calendar year (or fiscal year beginning in) ![]() |
(a) 2010 | (b) 2011 | (c) 2012 | (d) 2013 | (e) 2014 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .... | ||||||
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf....... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | ||||||
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | ||||||
Calendar year
(or fiscal year beginning in) ![]() |
(a) 2010 | (b) 2011 | (c) 2012 | (d) 2013 | (e) 2014 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | ||||||
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | ||||||
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support Add lines 7 through 10. | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2010 | (b) 2011 | (c) 2012 | (d) 2013 | (e) 2014 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose...... | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513.. | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 6 | Total. Add lines 1 through 5. | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons... | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support (Subtract line 7c from line 6.) | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2010 | (b) 2011 | (c) 2012 | (d) 2013 | (e) 2014 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e | Discount claimed for blockage or other factors (explain in detail in Part VI): | |||||
| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by .035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| 7 | Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions) | |||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | ||
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
||
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | ||
| 4 Amounts paid to acquire exempt-use assets | ||
| 5 Qualified set-aside amounts (prior IRS approval required) | ||
| 6 Other distributions (describe in Part VI). See instructions | ||
| 7Total annual distributions. Add lines 1 through 6. | ||
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
||
| 9 Distributable amount for 2014 from Section C, line 6 | ||
| 10 Line 8 amount divided by Line 9 amount | ||
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2014 |
(iii) Distributable Amount for 2014 |
|
|---|---|---|---|---|
|
1
Distributable amount for 2014 from Section C, line 6 |
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|
2
Underdistributions, if any, for years prior to 2014 (reasonable cause required--see instructions) |
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| 3 Excess distributions carryover, if any, to 2014: | ||||
| a From 2009.......X | ||||
| b From 2010.......X | ||||
| c From 2011.......X | ||||
| d From 2012.......X | ||||
| e From 2013....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2014 distributable amount | ||||
|
i
Carryover from 2009 not applied (see instructions) |
||||
| j Remainder. Subtract lines 3g, 3h, and 3i from 3f. | ||||
| 4Distributions for 2014 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2014 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from 4. | ||||
|
5
Remaining underdistributions for years prior to 2014, if any. Subtract lines 3g and 4a from line 2 (if amount greater than zero, see instructions) |
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|
6
Remaining underdistributions for 2014. Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions) |
||||
|
7 Excess distributions carryover to 2015. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a From 2010.......X | ||||
| b From 2011.......X | ||||
| c From 2012.......X | ||||
| d From 2013....... | ||||
| e From 2014....... | ||||
| Facts And Circumstances Test |
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| Return Reference | Explanation |
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Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| APPROVAL OF KEY EMPLOYEE COMPENSATION | THE BOARD OF DIRECTORS APPROVES THE GENERAL MANAGER'S SALARY ON AN ANNUAL BASIS AND ANY SALARY INCREASE IS COMPARABLE AND IN LINE WITH INCREASES AT UNIVERSITY OF CALIFORNIA PRESS AND PRINCETON UNIVERSITY PRESS. |
| OFFICER MAILING ADDRESSES - NOT REACHABLE AT ORGANIZATION'S ADDRESS | PATRICK CARROLL, C/O PRINCETON UNIVERSITY PRESS, 41 WILLIAM ST, PRINCETON, NJ 08540. PETER DOUGHERTY, C/O PRINCETON UNIVERSITY PRESS, 41 WILLIAM ST, PRINCETON, NJ 08540. REBEKAH DARKSMITH, C/O UNIVERSITY OF CALIFORNIA PRESS, 2120 BERKLEY WAY, BERKLEY, CA, 94704. ALISON MUDDITT, C/O UNIVERSITY OF CALIFORNIA PRESS, 2120 BERKLEY WAY, BERKLEY, CA, 94704. |
| AVAILABILITY OF ORGANIZATION DOCUMENTS | ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990 PROVIDED TO GOVERNING BODY | The audit/finance committee will review and approve the form 990 annual tax filing Prior to the submission and the full board will have access to the form 990 for Review prior to its submission as well. |
| CONFLICT OF INTEREST POLICY | ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS ON AN ANNUAL BASIS AND SIGN AN AFFIRMATION DOCUMENT. |
| TRUSTEES | PRINCETON UNIVERSITY PRESS (PUP) AND UNIVERSITY OF CALIFORNIA PRESS (UCP) EACH APPOINT 2 TRUSTEES FROM THEIR ORGANIZATION AND ONE ADDITIONAL TRUSTEE AGREED UPON BY BOTH PUP AND UCP TO FORM THE BOARD OF CPFS. ANY SIGNIFICANT DECISIONS RELATING THE ORGANIZATION ARE REQUIRED TO BE APPROVED BY THESE TRUSTEES. |
| BUSINESS RELATIONSHIPS | PATRICK CARROLL & PETER DOUGHERTY: BUSINESS RELATIONSHIP - PRINCETON UNIVERSITY PRESS. REBEKAH DARKSMITH & ALISON MUDDITT: BUSINESS RELATIONSHIP - UNIVERSITY OF CALIFORNIA PRESS. |
| FORM 990, PART XI, LINE 9 | OTHER CHANGES IN NET ASSETS INCLUDE THE FOLLOWING: BAD DEBT EXPENSE (134,750) LOSS ON DISPOSAL OF ASSETS (10,805) ADJUSTMENT FOR ESTIMATED LIQUIDATION VALUE 3,460,784 TOTAL 3,315,229 |
| FORM 990, PART XI, LINE 9 | LOSS ON DISPOSAL OF ASSETS: THE ORGANIZATION ANNOUNCED IN MAY 2014 THAT IT WOULD BE PERMANENTLY CLOSING ITS WAREHOUSE AND DISTRIBUTION OPERATIONS EFFECTIVE APRIL 30, 2015. AS A RESULT, THE ORGANIZATION CHANGED ITS BASIS OF ACCOUNTING TO THE LIQUIDATION BASIS OF ACCOUNTING. THE LOSS ON DISPOSAL OF ASSETS REPORTED ON THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2015 IS THE RECOGNIZED LOSS UNDER THE LIQUIDATION BASIS METHOD OF ACCOUNTING. PRESENTLY, THE ORGANIZATION IS STILL HOLDING ALL ASSETS, AND NO ASSETS HAVE BEEN SOLD, DISPOSED OF, OR DISTRIBUTED. UPON THE BOARD'S ADOPTION AND APPROVAL OF DISSOLUTION, ALL ASSETS WILL BE DISTRIBUTED OR SOLD IN ACCORDANCE WITH THE ARTICLES OF DISSOLUTION. UNTIL SUCH TIME, THE ASSETS ARE BEING HELD IN A WAREHOUSE. AS SUCH, THE LOSS ON THE DISPOSAL OF ASSETS IS BEING REPORTED ON FORM 990 AS A RECONCILING ITEM. |
| 401(K) PLAN | CPFS MAINTAINS A 401(K) DEFINED CONTRIBUTION PLAN WHEREBY EMPLOYEES CAN CONTRIBUTE UP TO 15% OF THEIR SALARY. CPFS WILL MATCH 100% OF THE FIRST 6% AN EMPLOYEE CONTRIBUTES. EFFECTIVE APRIL 30, 2015, THE ORGANIZATION BEGAN THE PROCESS OF TERMINATING THE 401(K) DEFINED CONTRIBUTION PLAN. DISTRIBUTIONS ARE BEING PROCESSED BY THE THIRD PARTY ADMINISTRATOR AS THE PARTICIPANT'S REQUESTS ARE RECEIVED. ONCE THE FINAL DISTRIBUTION IS PAID OUT, A FINAL FORM 5500 WILL BE PREPARED AND FILED WITH THE IRS. |
| FORM 990, PART III, LINE 3 | IN MAY 2014, THE ORGANIZATION ANNOUNCED THAT IT WOULD BE CLOSING THEIR WAREHOUSE AND DISTRIBUTION OPERATIONS EFFECTIVE APRIL 30, 2015. AS OF JUNE 30, 2015 THE ORGANIZATION'S ACTIVITIES ARE LIMITED TO SELLING, COLLECTING OR OTHERWISE REALIZING THE VALUE OF ITS REMAINING ASSETS; MAKING TAX AND OTHER REGULATORY FILINGS; WINDING DOWN THE ORGANIZATION'S REMAINING BUSINESS ACTIVITIES; PAYING (OR ADEQUATELY PROVIDING FOR THE PAYMENT) OF VALID CREDITOR CLAIMS AND OBLIGATIONS; AND MAKING DISTRIBUTIONS TO ITS OWNERS. LIQUIDATION IS ESTIMATED TO BE COMPLETED ON OR BEFORE AUGUST 31, 2018. |
| FORM 990, PART XII, LINE 1 | AS A RESULT OF THE ORGANIZATION'S DECISION TO CLOSE ITS WAREHOUSE AND DISTRIBUTION OPERATIONS, THE ORGANIZATION ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING EFFECTIVE JULY 1, 2014. THIS BASIS OF ACCOUNTING IS CONSIDERED APPROPRIATE WHEN, AMONG OTHER THINGS, LIQUIDATION OF A COMPANY IS PROBABLE AND THE NET REALIZABLE VALUE OF ASSETS ARE REASONABLY DETERMINABLE. UNDER THIS BASIS OF ACCOUNTING, ASSETS ARE VALUED AT THEIR NET REALIZABLE VALUES AND LIABILITIES ARE STATED AT THEIR ESTIMATED SETTLEMENT AMOUNTS. THE CONVERSION FROM THE GOING CONCERN TO LIQUIDATION BASIS OF ACCOUNTING REQUIRED MANAGEMENT TO MAKE SIGNIFICANT ESTIMATES AND JUDGMENTS TO RECORD ASSETS AT ESTIMATED NET REALIZABLE VALUE AND LIABILITIES AT ESTIMATED SETTLEMENT AMOUNTS. THESE ESTIMATES ARE SUBJECT TO CHANGE BASED UPON THE TIMING OF POTENTIAL SALES AND CHANGES IN THE REAL ESTATE MARKET. |
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