| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 4,290 | 0 | 4,290 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| RESPONSE SHOWING REASONABLE CAUSE | IRS LETTER 2697C DATED FEB. 06, 2023 | THE PHILIP CHOSKY CHARITABLE & EDUCATIONAL FOUNDATIONTAXPAYER IDENTIFICATION NUMBER: 23-2932969FORM: 990-PFTAX PERIOD: DECEMBER 31, 2021THE ORGANIZATION RECEIVED TAX LETTER 2697C DATED FEBRUARY 6, 2023 ON FEBRUARY 8, 2023 STATING THE IRS CAN'T PROCESS OUR 2021 FORM 990-PF AND RETURNING OUR PAPER FILED FORM 990-PF. THE DATE OF OUR ATTEMPTED PAPER FILING WAS NOVMEBER 5, 2022.THE REASON THE 2021 FORM 990-PF WAS RETURNED WAS THAT WE PAPER FILED THE RETURN INSTEAD OF ELECTRONICALLY FILING THE RETURN. THE RETURN WAS UNABLE TO BE ELECTRONICALLY FILED BECAUSE THE TAX PREPARER'S SOFTWARE WOULD NOT SUPPORT PDF ATTACHMENTS FOR FORM 990-PF WITHOUT AN APPROVED PROPER PDF CODE. THEREFORE, DISQUALIFYING THE RETRUN FOR E-FILING. SINCE THE RETURN WAS DISQUALIFIED FOR E-FILING PURPOSES, THE FAILURE TO E-FILE WAS NOT WILLFUL NEGLECT AND THE ORGANIZATION IMMEDIATELY EXERCISED ORIDNARY BUSINESS CARE AND PRUDENCE AND TIMELY FILED A PAPER RETURN ON NOVEMBER 5, 2022 SO THAT THE 2021 990-PF WOULD BE FILED BY THE EXTENDED DUE DATE OF NOVEMBER 15, 2022.THE ORGANIZATION HAS SUBSEQUENTLY TAKEN THE NECESSARY CORRECTIVE STEP OF NOT HAVING FUTURE 990-PF TAX RETURNS INCLUDE PDF ATTACHMENTS SO THAT ALL FUTURE RETURNS CAN BE ELECTRONICALLY FILED. THE ORGANIZATION IS OTHERWISE CURRENT WITH ALL ITS FILINGS AND TAX OBLIGATIONS.THE ORGANIZATION IS REQUESTING ABATEMENT OF A TARDINESS PENALTY ON ELECTRONIC FILING AFTER THE REJECTION OF PAPER FORM FILING.MERYL AINSMAN, EXECUTIVE DIRECTOR |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| VARIOUS DEBT INSTRUMENTS | 1,058,461 | 1,106,355 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| VARIOUS STOCKS | 4,444,878 | 6,308,707 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| VARIOUS MUTUAL FUNDS | FMV | 4,139,648 | 5,292,030 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| INTEREST RECEIVABLE | 15,641 | 11,105 | 11,105 |
| OTHER RECEIVABLE | 7,177 | 7,177 | 7,177 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INSURANCE | 2,328 | 0 | 2,328 | |
| INVESTMENT FEES | 92,189 | 92,189 | 0 | |
| MEMBERSHIP DUES | 2,037 | 0 | 2,037 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL SERVICES | 1,643 | 0 | 1,643 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL TAXES | 6,291 | 0 | 6,291 | |
| FOREIGN TAXES | 10,311 | 10,311 | 0 | |
| EXISE TAXES | 19,190 | 0 | 0 |