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Nonprofiteer
← KAPNICK FUND INC

Form 990 for tax year 2023

Filed by KAPNICK FUND INC.

Totals

Total revenue
$1,398,558
Total expenses
$1,048,049
Contributions and grants received
$1,010,821
Grants paid
$1,000,000
Program service revenue
$0
Investment income
$388,274
Other revenue
-$537
Total assets, end of year
$7,987,385
Total liabilities, end of year
$1,025,000
Net assets or fund balances, end of year
$6,962,385
Program services expenses (Part IX)
$1,000,000
Management and general expenses
$48,049
Fundraising expenses
$0
Program service expenses (Part III)
$1,000,000

Program services were 95.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,010,821

  • 3 · Investment income

    total $352,905 · excluded $352,905

  • 7a · Gross sales of assets other than inventory

    securities $35,369

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $35,369

  • 7d · Net gain or loss

    total $35,369 · excluded $35,369

  • 11a · Other revenue: UBI FROM INVESTMENT K-

    total -$537 · unrelated business -$537

  • 11e · Other revenue, total

    -$537

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,000,000 · program services $1,000,000

  • 11c · Fees: accounting

    total $1,625 · management and general $1,625

  • 11f · Fees: investment management

    total $20,792 · management and general $20,792

  • 13 · Office expenses

    total $81 · management and general $81

  • 24a · Other expenses: ADMINISTRATIVE FEES

    total $25,000 · management and general $25,000

  • 24b · Other expenses: LICENSES, TAXES AND FEE

    total $551 · management and general $551

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $373,966 · end of year $1,584,400

  • 2 · Savings and temporary cash investments

    beginning of year $10,445 · end of year $123,290

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,040 · end of year $4,040

  • 12 · Investments: other securities

    beginning of year $5,902,326 · end of year $6,275,655

  • 18 · Grants payable

    beginning of year $50,000 · end of year $1,025,000

  • 27 · Net assets without donor restrictions

    beginning of year $6,240,777 · end of year $6,962,385

Mission and programs · 2023

Mission

A SUPPORTING ORGANIZATION OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE COLLIER COMMUNITY FOUNDATION

  • A SUPPORTING ORGANIZATION OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE COLLIER COMMUNITY FOUNDATION

    Expenses $1,000,000 · Grants $1,000,000

As filed on the 2023 return.

Listed in Part VII

  • Mr Scott Kapnick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Kathleen Kapnick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Jerry Tostrud

    DIRECTOR & SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mr Dennis Brown

    DIRECTOR & PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ms Eileen Connolly-Keesler

    DIRECTOR & TREASURER

    Total calculated
    $315,772
    From this org
    $0
    From related orgs
    $261,859
    Other
    $53,913
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,859 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $28,710 related
    Nontaxable benefits
    $0 + $25,203 related
    Filer's total
    $0 + $315,772 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
6 February 2025
IRS schema version
2023v6.0
Source object
202520499349300612

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