| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 2,044 | 0 | 0 | 0 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| SUBMISSION AND REQUEST FOR ABATEMENT | FORM 990-PF | FEBRUARY 21, 2023 H. WAYNE GRANT, ESQ. WRITER'S EMAIL WGRANT@GKHPC.COMTHE DEPARTMENT OF THE TREASURYINTERNAL REVENUE SERVICE CENTEROGDEN, UTAH 84201-0045 RE: EVELYN EVANS FOUNDATION, INC. FORM 990-PF ID # 47-2813569 SUBMISSION AND REQUEST FOR ABATEMENT LATE FILING PENALTIES FOR THE EVELYN EVANS FOUNDATION, INC. TAX PERIOD: DECEMBER 31, 2021 DEAR IRS: I AM WRITING TO REQUEST YOUR ASSISTANCE WITH REGARD TO TWO MATTERS CONCERNING THE EVELYN EVANS FOUNDATION, INC. (THE "FOUNDATION") FORM 990-PF IN RESPONSE TO IRS LETTER 2697C 1, A COPY OF WHICH IS ATTACHED. THE FOUNDATION IS A PHILANTHROPIC NON-PROFIT ORGANIZATION EXEMPT FROM TAX UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ATTACHED LETTER INDICATES THAT A COMPLETE RETURN WAS NOT FILED, AND THE RETURN HAD TO BE E-FILED. THE LETTER PERMITTED THE FOUNDATION TO AVOID ANY PENALTIES IF THE RETURN WAS E-FILED IN A COMPLETE AND ACCURATE MANNER WITHIN TEN DAYS OF THE DATE OF THE LETTER. THE LETTER WAS RECEIVED BY THE FOUNDATION ON FEBRUARY 17, 2023, LATE IN THE AFTERNOON. THE TEN DAYS GRANTED BY THE LETTER, DATED FEBRUARY 10, 2023, WOULD HAVE EXPIRED FEBRUARY 20, 2023. FEBRUARY 20, 2023 IS PRESIDENT'S DAY AND RECOGNIZED AS A LEGAL FEDERAL HOLIDAY. THE RETURN HAS BEEN E-FILED ON THIS THE 21ST DAY OF FEBRUARY, 2023 IN ANTICIPATION THAT NO PENALTY WOULD BE IMPOSED. IMPOSING PENALTIES IN THIS CASE WOULD BE INCONSISTENT WITH THE PURPOSE OF PENALTIES, AS EXPLAINED IN THE IRS PENALTY HANDBOOK. PER THE HANDBOOK, "PENALTIES EXIST TO ENCOURAGE VOLUNTARY COMPLIANCE BY SUPPORTING THE STANDARDS OF BEHAVIOR REQUIRED BY THE INTERNAL REVENUE CODE." ALTHOUGH PENALTIES SUPPORT AND ENCOURAGE VOLUNTARY COMPLIANCE, THEY ALSO SERVE TO BRING ADDITIONAL REVENUES INTO THE TREASURY AND INDIRECTLY FUND ENFORCEMENT COSTS. HOWEVER, THESE RESULTS ARE NOT REASONS FOR CREATING OR IMPOSING PENALTIES. LASTLY, THE IRS HANDBOOK PROVIDES THAT "VOLUNTARY COMPLIANCE IS ACHIEVED WHEN A PERSON MAKES A GOOD FAITH EFFORT TO MEET THE TAX OBLIGATIONS DEFINED BY THE INTERNAL REVENUE CODE". IN THE PRESENT CASE, THE RETURN WAS NOT E-FILED INITIALLY ON THE DUE DATE BECAUSE THE RETURN COULD NOT BE COMPLETED UNTIL THE DATE THAT IT WAS DUE AND UNFORTUNATELY THE COMPUTER SERVICE COULD NOT FILE ON THAT DATE DUE TO TECHNICAL DIFFICULTIES. THEREFORE, THE FOUNDATION HAD TO FILE THE RETURN BY MAIL AND WITHOUT SOME OF THE DIRECTION AND BENEFITS THAT THE PRINTOUT BY THE COMPUTER SOFTWARE OFFERS. TO IMPOSE A PENALTY IN THE PRESENT SITUATION WOULD DIVERT PRECIOUS FISCAL RESOURCES AWAY FROM THE CHARITABLE AGENCIES THAT ARE FUNDED BY THE FOUNDATION. THE CAUSE OF THE LATE FILED RETURN BY CERTIFIED MAIL WAS NEITHER INTENTIONAL NOR PLANNED. THE FOUNDATION REASONABLY RELIED ON AN ESTABLISHED BUSINESS PROCESS THAT HAS SERVED TAX FILINGS FOR MANY YEARS. IF A PENALTY HAS BEEN OR WILL BE IMPOSED, WE RESPECTFULLY REQUEST THE PENALTY BE ABATED FOR REASONABLE CAUSE. UNDER PENALTIES OF PERJURY, I DECLARE THAT THIS REQUEST WAS PREPARED BY ME AND, ALTHOUGH I DO NOT KNOW OF MY OWN KNOWLEDGE THAT THE FACTS CONTAINED HEREIN ARE TRUE AND CORRECT, ON THE BASIS OF THE INFORMATION PROVIDED TO ME, I BELIEVE THEM TO BE TRUE AND CORRECT. VERY TRULY YOURS, GRANT, KONVALINKA & HARRISON, P.C. BY: S/ H. WAYNE GRANT H. WAYNE GRANTHWG:CJBENCLOSURE |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| FS INVESTMENTS OVERRIDE | AT COST | 26,094 | 26,094 |
| SEI FOUNDATION 770334 | AT COST | 1,345,914 | 1,676,496 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL | 3,104 | 0 | 0 | 0 |
| Description | Amount |
|---|---|
| FMV CHANGE | 103,949 |
| Name | Address |
|---|---|
| EVELYN L EVANS TRUST |
241 RIDGE STREET RENO,NV89501 |