Form 990-PF Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As a Private Foundation Department of the Treasury 2011 Note
Total Page:16
File Type:pdf, Size:1020Kb
EXTENSION Return of, Private Foundation OMAGI 052 Form 990-PF or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation Department of the Treasury 2011 Note . The foundation may be able to use a copy of this return to satisfy state reporting requirements For calendar year 2011 or tax year beginning 11/1/2011 , and ending 10/31/2012 Name of foundation A Employer Identification number Lowell Milken Family Foundation 95-4078354 Number and street (or P 0 box number if mail is not delivered to street address) Room/suite B Telephone number (see instructions) 1250 Fourth St. 3rd Floor (310) 570-4800 City or town, state, and ZIP code q C If exemption application is pending, check here ► Santa Monica CA 90401-1304 q q q G Check all that apply: Initial return Initial return of a former public charity D 1. Foreign organizations, check here ► q q Final return Amended return 2. Foreign organizations meeting the 85% test, q q Address change q Name change check here and attach computation ► H Check of organization: Section exempt private foundation type 501 (c)(3) E If private foundation status was terminated q q q Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation under section 507(b)(1)(A), check here ► I Fair market value of all assets at end J Accounting method: Cash q Accrual F If the foundation is in a 60-month termination q of year (from Part 11, col (c), q Other (specify) ------------------------- under section 507(b)(1)(B), check here ► line 16) ► $ 63 046,972 Part 1, column (d) must be on cash basis Analysis of Revenue and Expenses (The total of(a) Revenue and (d) Disbursements (b) Net investment (c) Adjusted net for chartable amounts in columns (b), (c), and (d) may not necessarily equal expenses per income income purposes the amounts in column (a) (see instructions)) books (cash basis only) I Contributions, gifts, grants, etc , received (attach schedul St 8 3,285,500 e7 2 Check if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 1 ,452 1 ,452 4 Dividends and interest from securities 507 , 309 507,309 da. 5 a Gross rents 0 cam: b Net rental income or (loss) 0 Net gain or (loss) from sale of assets not on line 10 1 •, is 6 a 192 , 743 4) b G sales price for all assets on line 6a 5,173 983 > F314 7 apical t income (from Part IV, line 2) 1 , 211,442 8 et sho t in 0 9 me daZ<o^i^^/^ 10 ss sel les retu s a d ^au6wance 0 b ess t o t oP:gopds sold 0 C G ssp oofit or (loosa3Qgt^'ac dule) 0 r (att^ch sche St 15 3,647 000 3646 014 0 12 To 1 rr 8 , 634 , 004 5 , 366 , 217 0 m 13 Compensatio ffi rs, dir ctors, trustees, etc 0 ui 14 Other employee salarie wages 32 , 601 32,601 w 15 Pension plans, employee benefits 3,874 3 , 874 x 16 a Legal fees (attach schedule) . 0 0 0 0 y b Accounting fees (attach schedule) St 2 107 , 272 42,909 0 64 , 363 c Other professional fees (attach schedule) St 1 101,947 78,964 0 22 , 983 17 Interest 18 Taxes (attach schedule) (see instructions) St 3 36 , 798 18 , 154 0 2 ,494 E 19 Depreciation (attach schedule) and depletion St 16 4 , 071 0 0 -0 20 Occupancy 2,162 2,162 a 21 Travel, conferences, and meetings 5,105 5 , 105 c 22 Printing and publications 23 Other expenses (attach schedule) St 4 11,987 5 ,427 0 6,560 24 Total operating and administrative expenses. Add lines 13 through 23 305 , 817 145 , 454 0 140 , 142 c 25 Contributions, gifts, grants paid St 9 6 , 142,080 6,142,080 0 26 Total expenses and disbursements . Add lines 24 and 25 6 ,447 , 897 145 , 454 0 6 , 282 , 222 27 Subtract line 26 from line 12 a Excess of revenue over expenses and disbursements 2 , 186,107 b Net investment income (if negative, enter -0-) 5,220 , 7 3 c Adjusted net income (if negative, enter -0-) 0 For Paperwork Reduction Act Notice , see instructions . Form 990-PF (2011) (HTA) NZ Form 990-PF (2011) Lowell Milken Family Foundation . 95-4078354 Page 2 Attached schedules and amounts in the description column Beginning of year End of year Ba lance Sheets should be for end-of-year amounts only (See instructions) (a) Book Value (b) Book Value (c) Fair Market Value I Cash-non-interest-bearing . 2 Savings and temporary cash investments 1,822 687 3 1 784 , 957 3 1 784,957 3 Accounts receivable ► 0 Less allowance for doubtful accounts 0 0 0 0 ► --------------------- 4 Pledges receivable 0 Less. allowance for doubtful accounts ------------------ --0 0 0 0 ► ------ - ------------- 5 Grants receivable 6 Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see instructions) 0 0 0 7 Other notes and loans receivable (attach schedule) ► 0 Less allowance for doubtful accounts 0 0 0 0 ► ----------------------- - --- 8 Inventories for sale or use to 9 Prepaid expenses and deferred charges to Q 10 a Investments-U S and state government obligations (attach schedule) . 0 0 0 b Investments-corporate stock (attach schedule) St 5 3 , 081 , 987 3 , 275 , 132 7 1 102,058 C Investments-corporate bonds (attach schedule) . St 6 2,088,007 988,200 911,218 11 Investments-land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) ► -----------------0 0 0 0 12 Investments-mortgage loans 13 Investments-other (attach schedule) St 7 42,560 884 42,526,411 51,226,346 14 Land, buildings, and equipment basis ► 28.500 Less accumulated depreciation (attach schedule) 10---------------6,107 26 ,464 22 , 393 22 , 393 15 Other assets (describe ) 0 0 0 ► ----------------------------------- 16 Total assets (to be completed by all filers-see the instructions Also, see page 1, item I) 49 , 580 , 0 9 50 , 597 , 093 63 , 046 , 972 17 Accounts payable and accrued expenses . 21 ,440 29 ,457 18 Grants payable R 19 Deferred revenue 20 Loans from officers, directors, trustees, and other disqualified persons 0 0 A 21 Mortgages and other notes payable (attach schedule) 0 0 J 22 Other liabilities (describe ► ) 0 0 23 Total liabilities (add lines 17 through 22) - 21 , 440 29 , 457 N Foundations that follow SFAS 117, check here ► L and complete lines 24 through 26 and lines 30 and 31. to 24 Unrestricted - m 25 Temporarily restricted 26 Permanently restricted Foundations that do not follow SFAS 117, check here ► ^X and complete lines 27 through 31. o 27 Capital stock, trust principal, or current funds . 49 , 558 , 589 50 , 567 , 636 28 Paid-in or capital surplus, or land, bldg , and equipment fund 29 Retained earnings, accumulated income, endowment, or other funds Q 30 Total net assets or fund balances (see instructions) 49 , 558 , 589 50,567,636 Z 31 Total liabilities and net assets/fund balances (see instructions) . 49 , 580 , 029 50 , 597 , 093 1 Anal sis of Changes in Net Assets or Fund Balances I Total net assets or fund balances at beginning of year-Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return) 1 49 , 558 , 589 2 Enter amount from Part I, line 27a . 2 2 , 186 , 107 3 Other increases not included in line 2 (itemize) Stmt 19 ► ---------------------------------------------------- 3 2 108 057 4 Add lines 1, 2, and 3 - 4 53 852,753 5 Decreases not included in line 2 (itemize) Stmt 17 ► ----------------------------------------------------------- 5 3 , 285 , 117 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30 6 50 , 567 , 636 Form 990-PF (2011) Form 990-PF (2011) Lowell Milken Famil y Foundation 95-4078354 Page 3 Capital Gains and Losses for Tax on Investment Income (b) How acquired (a)() List and describe the kinds() of property sold (a g ,real estate , (c) Date acquired (d) Date sold p-purchase 2-story bock warehouse, or common stock, 200 shs MLC Co) (mo, day, yr) (mo, day, yr) D-Donaas la Stmt 12 b c d e (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (e) Gross sales price (or allowable) plus expense of sale (e) plus (f) minus (g) a 5 , 104 , 834 0 3 , 893 , 392 1,211,442 b 0 0 0 0 c 0 0 0 0 d 0 0 0 0 e 0 0 0 0 Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (1) Gains (Col (h) gain minus Adjusted basis (k) Excess of col (i) col (k), but not less than -0-) or (i) F M V as of 12/31/69 (1) as of 12/31/69 over col q), if any Losses (from col (h)) a 0 0 0 1,211 442 b 0 0 0 0 c 0 0 0 0 d 0 0 0 0 e 0 0 0 0 If gain, also enter in Part I, line 7 1 2 Capital gain net income or (net capital loss) If (loss), enter -0- in Part I, line 7 J 2 1 , 211,442 3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6). If gain, also enter in Part I, line 8, column (c) (see instructions).