| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Identifier | Return Reference | Explanation |
|---|---|---|
| 01 | FORM 990-PF - REASON FOR AMENDING | THE RETURN IS BEING AMENDED TO FILE AS A PRIVATE FOUNDATION. THE FOUNDATION ORIGINALLY FILED TO TERMINATE EXEMPT STATUS EFFECTIVE 1/1/2020 AND BECOME A PUBLIC CHARITY. THE FOUNDATION FILED A FORM 990 FOR TAX YEAR 2020 & 2021 AND FORM 8940 TO SHOW IT MET THE QUALIFICATION AS A PUBLIC CHARITY. FORM 8940 WAS NOT PROCESSED BY THE IRS DUE TO A MISSING USER FEE AND THEREFORE REJECTED, CAUSING THE FOUNDATION STILL TO BE CLASSIFIED AS A PRIVATE FOUNDATION. Management was not made aware that the Form 8940 was not processed by the IRS until it made a recent phone call to the IRS inquiring about the status of the Form. No letter rejecting the Form 8940 was ever received by Management. Therefore THE FOUNDATION IS refiling the 2021 Form 990 as a Form 990-PF (private Foundation) because the IRS concluded that the organization was A PRIVATE FOUNDATION for the 2021 tax year. |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CORPORATE BONDS | 711,709 | 711,709 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CORPORATE STOCKS | 9,265,088 | 9,265,088 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADVERTISING AND PROMOTION | 9,785 | 9,785 | ||
| SHARED SERVICE AGREEMENT | 435,723 | 435,723 | ||
| BANK CHARGES | 4,587 | 4,587 | ||
| BACK TO SCHOOL | 20,209 | 20,209 | ||
| OUTSIDE SERVICES | 5,939 | 5,939 | ||
| OFFICE EXPENSES | 21,273 | 21,273 | ||
| FUNDRAISING EXPENSES | 316,151 | 316,151 |
| Description | Amount |
|---|---|
| UNREALIZED GAINS/LOSSES ON INVESTMENTS | 244,071 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER PROFESSIONAL FEES | 36,602 | 36,602 | ||
| INVESTMENT MANAGEMENT FEES | 32,570 | 32,570 |