| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 5,000 | 0 | 5,000 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| STATUS AS A CONDUIT PRIVATE FOUNDATION | FORM 990-PF PART XII, LINE 6 | INTERNAL REVENUE CODE SECTION 170(B)(1)(F)(II) ELECTIONINTERNAL REVENUE CODE SECTION 4942(H)(2)PURSUANT TO IRC 170(B)(1)(F)(II) AND TREAS. REGS. 1.170A-9(H), THE FOUNDATION HEREBY ELECTS TO TREAT THE QUALIFYING DISTRIBUTIONS MADE DURING THE 2 1/2 MONTH PERIOD (JANUARY 1, 2021 THROUGH MARCH 15, 2021) FOLLOWING THE CLOSE OF THE 2020 TAX YEAR AS BEING MADE DURING THE CURRENT 2020 TAX YEAR.PURSUANT TO IRC 4942(H)(2) AND TREAS. REGS. 53-4942(A)-3(D)(2), THE FOUNDATION ALSO HEREBY ELECTS TO TREAT THE QUALIFYING DISTRUBTIONS MADE DURING THE 2 1/2 MONTH PERIOD (JANUARY 1, 2021 THROUGH MARCH 15, 2021) FOLLOWING THE CLOSE OF THE 2020 TAX YEAR, AS OUT OF CORPUS.THE AMOUNT FOR THE ABOVE ELECTION IS AS FOLLOWS:ELECTION AMOUNT TREATED AS MADE OUT OF CORPUS FOR THE 2020 TAX YEAR: $ 14,969THE FOUNDATION MEETS THE REQUIREMENTS OF IRC 170(B)(1)(A)(VII), 170(B)(1)(F)(II) AND 4942(H)(2) IN THAT QUALIFYING DISTRIBUTIONS OUT OF CORPUS WERE MADE WITHIN 2 MONTHS AND 15 DAYS FOLLOWING THE CLOSE OF THE 2020 TAX YEAR IN AN AMOUNT EQUAL TO 100% OF ALL CONTRIBUTIONS RECEIVED DURING THE 2020 TAX YEAR AND IN THAT THERE WAS NO REMAINING UNDISTRIBU- TABLE INCOME FOR THE 2020 TAX YEAR. THUS, THE FOUNDATION IS A CONDUIT PRIVATE FOUNDATION AND THE FOUNDATION QUALIFIES AS A 60% CHARITY. |
| STATUS AS A CONDUIT PRIVATE FOUNDATION | FORM 990-PF PART XII, LINE 6 | GRANTS AND CONTRIBUTIONS PAID FROM JANUARY 1, 2021 TO MARCH 15, 2021RECIPIENT FOUNDATION GRANTNAME AND ADDRESS STATUS PURPOSE AMOUNT CALIFORNIA VOLUNTEERS FUND PC GENERAL $333,3339214 BEVERLYWOOD STREETLOS ANGELES, CA 90034NEW VENTURE FUND PC GENERAL $ 50,0001201 CONNECTICUT AVE NW, STE 300WASHINGTON, DC 20036-2656AFRICA FOUNDATION (USA) PC GENERAL $125,0005390 KIETZKE LN, STE 202RENO, NV 89511TOTAL GRANTS PAID FROM 1/1/21 THROUGH 3/15/21: $508,333LESS: GRANTS TO BE TREATED AS QUALIFYING DISTRIBUTIONS FOR 2021 TAX YEAR: ($493,364)GRANTS ELECTED AS MADE IN THE 2020 TAX YEAR: $ 14,969(SEE STATEMENT 5) |
| STATUS AS A CONDUIT PRIVATE FOUNDATION | FORM 990-PF PART XII, LINE 6 | INTERNAL REVENUE CODE SECTION 170(B)(1)(F)(II)INTERNAL REVENUE CODE SECTION 4942(H)(2)A. 2020 QUALIFYING DISTRIBUTION REQUIREMENTS TO BE TREATED AS A CONDUIT FOUNDATION 2019 UNDISTRIBUTED INCOME $ 0 2020 INVESTMENT INCOME $ 0 (PART I, LINE 4, PAGE 1, 2020 FORM 990-PF) 2020 TOTAL CONTRIBUTIONS RECEIVED $1,050,000 (PART I, LINE 1(A), PAGE 1, 2020 FORM 990-PF) TOTAL AMOUNT TO BE DISTRIBUTED BY 3/15/21 TO BE DEEMED A CONDUIT FOUNDATION $1,050,000B. 2020 QUALIFYING DISTRIBUTIONS MADE TOTAL QUALIFYING DISTRIBUTIONS FOR 2020 $1,222,959 (PART I, LINE 26, PAGE 1 AND PART XII, LINE 4 PAGE 8 2020 FORM 990-PF) ELECTION MADE ON FILED 2019 FORM 990-PF FOR ($ 187,928) QUALIFYING DISTRIBUTIONS MADE BETWEEN 1/1/20 AND 3/15/20 TO BE TREATED AS MADE IN THE 2019 TAX YEAR (STATEMENT 6) ELECTIONS MADE ON 2020 FORM 990-PF FOR $ 14,969 QUALIFYING DISTRIBUTIONS MADE BETWEEN 1/1/21 AND 3/15/21 TO BE TREATED AS MADE IN THE 2020 TAX YEAR (STATEMENT 5) TOTAL AMOUNT DISTRIBUTED AS OF 12/31/20 $1,050,000 |
| STATUS AS A CONDUIT PRIVATE FOUNDATION | FORM 990-PF PART XII, LINE 6 | THEREFORE, THE FOUNDATION MEETS THE REQUIREMENTS OF IRS 170(B)(1)(A)(VII), 170(B)(1)(F)(II) AND 4942(H)(2) IN THAT QUALIFYING DISTRIBUTIONS OUT OF CORPUS WERE MADE IN AN AMOUNT EQUAL TO 100% OF ALL CONTRIBUTIONS RECEIVED DURING THE 2020 TAX YEAR AND IN THAT THERE WAS NO REMAINING UNDISTRIBUTABLE INCOME FOR THE 2020 TAX YEAR. THUS, THE FOUNDATION IS A CONDUIT PRIVATE FOUNDATION AND THE FOUNDATION QUALIFIES AS A 60% CHARITY. |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OFFICE EXPENSE | 504 | 0 | 504 | |
| FILING FEES | 1,505 | 0 | 1,505 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| WEB DEVELOPMENT | 150 | 0 | 150 |