2024-05-13T03:55:27-00:00 2023-06-30 834701972 LEWIS SHARPSTONE & CO 5850 CANOGA AVE SUITE 400 WOODLAND HILLS CA 91367 990 2022-07-01 384135087 PALOS VERDES ESTATES FOUNDATION PALO 2133937977 PO BOX 955 Palos Verdes Estates CA 90274 DAVID MCGOWAN PRESIDENT 2133937977 2024-05-13 true DAVID MCGOWAN 999009999 LEWIS SHARPSTONE P02256953 8185701960 2024-05-13 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID MCGOWAN PO BOX 955 PALOS VERDES ESTATES CA 90724 57966 false X PVEFOUNDATION.ORG X 2019 CA THE PALOS VERDES ESTATES FOUNDATION STRENGTHENS OUR COMMUNITY BY ENCOURAGING PHILANTHROPY THROUGH PUBLIC-PRIVATE PARTNERSHIPS WITH THE CITY OF PALOS VERDES ESTATES. 6 6 1 25 0 488627 54562 0 131 3404 -15311 0 473447 57966 205000 47628 0 31868 0 8250 162773 54127 367773 133623 105674 -75657 472790 382518 4105 4491 468685 378027 THE PALOS VERDES ESTATES FOUNDATION STRENGTHENS OUR COMMUNITY BY ENCOURAGING PHILANTHROPY THROUGH PUBLIC-PRIVATE PARTNERSHIPS WITH THE CITY OF PALOS VERDES ESTATES, AUGMENTING CULTURAL, RECREATIONAL, LIFESTYLE AND SAFETY PROGRAMS. false false 68342 47628 THE FOUNDATION MAKES GRANTS TO LOCAL NONPROFITS OR GOVERNMENTAL AGENCIES, OR PAYS CONTRACTORS WHO COMPLETE PROJECTS, ALL IN PURSUIT OF THE FOUNDATIONS MISSION. IN THE YEAR ENDED JUNE 30, 2023 THE FOUNDATION COMPLETED CITY BEAUTIFICATION PROJECTS IN THE AMOUNT OF 41,072 AND COMPLETED OTHER MISSION RELATED PROJECTS IN THE AMOUNT OF 6,556. 68342 true true false false false false false false false false false false false false true true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 2 0 1 true false false false false false false false false false false false false X 6 6 false false false false false false false true true false false true true true true true true false false false CA X X DAVID A MCGOWAN 2133937977 PO 955 PALOS VERDES ESTATES CA 90274 X DAVID MCGOWAN PRESIDENT 004.00 X X 0 0 0 VIRGINIA BUTLER DIRECTOR 002.00 X 0 0 0 JANET TEAGUE SECRETARY 002.00 X X 0 0 0 BARTON GUREWITZ CHIEF FINANCIAL OFFICER 002.00 X X 0 0 0 CHAD ACALLISTER DIRECTOR 002.00 X 0 0 0 JULIA PARTON DIRECTOR 002.00 X 0 0 0 false false false 54562 54562 3404 3404 57966 3404 47628 47628 0 0 0 0 0 29167 18958 7292 2917 0 0 2701 1756 675 270 0 6558 6558 22014 22014 0 0 5231 4781 450 7373 2800 4573 771 731 40 10945 10945 0 0 0 0 0 0 0 0 1235 1235 0 133623 68342 57031 8250 451863 380744 15000 1721 4206 1774 472790 382518 4105 4491 4105 4491 X 468685 378027 468685 378027 472790 382518 X -75657 -15001 X true X false true X 48704 427680 488627 54562 1019573 48704 427680 488627 54562 1019573 98800 920773 16 131 3404 3551 1023124 X 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false Financial derivatives and other financial products Closely-held equity interests Federal income taxes X X 2 IN NOVEMBER 2021 THE FOUNDATION RECEIVED THE LETTER FROM THE INTERNAL REVENUE SERVICE RECOGNIZING THE FOUNDATION AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501C3 OF THE INTERNAL REVENUE CODE, EFFECTIVE NOVEMBER 2019. IN JUNE 2023 THE FOUNDATION REALIZED THAT THE APPLICATION TO HAVE THE FOUNDATION BE SIMILARLY EXEMPT FROM STATE TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE WAS NEVER FILED. THE APPLICATION WAS IMMEDIATELY PREPARED AND FILED. THE FOUNDATION EXPECTS THE CALIFORNIA FRANCHISE TAX BOARD WILL DETERMINE THAT THE FOUNDATION IS EXEMPT FROM STATE TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE AND THAT THERE WILL BE NO ADVERSE CONSEQUENCES RESULTING FROM THE FOUNDATIONS OMISSION TO TIMELY FILE SUCH APPLICATION. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ORGANIZATION IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE FOUNDATION IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE FOUNDATIONS RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE AND FOUR YEARS, RESPECTIVELY, AFTER THEY ARE FILED. true CITY OF PALOS VERDES ESTATES 340 PALOS VERDES DR W PALOS VERDES ESTATES CA 90274 956000758 GOV AGENCY 41072 BEAUTIFICATION PROJECTS CITY OF PALOS VERDES ESTATES 340 PALOS VERDES DR W PALOS VERDES ESTATES CA 90274 956000758 GOV AGENCY 6556 GENERAL PROJECTS 1 Part I Line 2 GRANTS ARE APPROVED BY THE BOARD OF DIRECTORS. GRANT REVIEWS ENSURE THE FUNDS ARE SPENT AS PROPOSED. Form 990, Part VI, Section B, Line 11B FORM 990 IS CAREFULLY REVIEWED BY THE FOUNDATION PRESIDENT, THEN PROVIDED TO BOARD MEMBERS PRIOR TO FILING. Form 990, Part VI, Section B, Line 15A AND 15B THESE QUESTIONS ARE ANSWERED NO SINCE THERE ARE NO OFFICERS COMPENSATED. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. Form 990, Part VI, Section B, Line 12c THE FOUNDATION HAS A ROBUST CONFLICT OF INTEREST POLICY. IN SHORT, DIRECTORS ARE REQUIRED TO RECUSE THEMSELVES OF ANY DECISION WHERE THEY HAVE A CONFLICT OF INTEREST. BOARD MEMBERS ACKNOWLEDGE RECEIPT AND ADHERANCE TO THE POLICY ANNUALLY. Form 990, Part XI, Line 8 SUBSEQUENT TO COMPLETING THE JUNE 30, 2022 990 THE FOUNDATION COMPLETED ITS REVIEWED FINANCIAL STATEMENTS. THIS AMOUNT REPRESENTS THE DIFFERENCE BETWEEN THE NET ASSETS AT JUNE 30,2022 PER THE REVIEW AND PER THE FORM 990.