2025-10-15T08:58:16-07:00 2024-11-30 592142260 CS&L CPAS 101 E KENNEDY BOULEVARD SUITE 1460 TAMPA FL 33602 990PF 2023-12-01 592474711 The Colen Foundation Inc COLE 3528730848 8435 SW 80th Street 2 Ocala FL 34481 KENNETH D COLEN President 2025-10-13 true true Susan O Thompson P00276728 8134904490 2023 2025-03-06 01:10:19Z X 21426413 X 1227 X 168453 168453 249240 249240 520545 4106101 520545 939465 938238 5143 514 4629 8995 900 8095 10811 1538 50741 48800 1941 75690 51752 14665 546616 546616 622306 51752 561281 317159 886486 44186 54095 54095 7273 962400 1898989 1868868 7287986 7431758 13533548 3151795 2763485 2584176 316432 385977 316432 324250 2939798 2571979 3061476 14779415 15036738 21426413 30804 6717 30804 6717 X 14748611 15030021 14748611 15030021 14779415 15036738 14748611 317159 15065770 35749 15030021 Raymond James - Short Term P 2024-11-01 2024-11-30 1631772 1626428 5344 5344 Raymond James - Long Term P 2023-11-01 2024-11-30 2294329 1881389 412940 412940 8702 SW 93rd Lane Unit A P 2019-07-12 2024-09-10 170000 77739 92261 92261 Duke Energy Easement Agreement D 1994-07-12 2024-11-19 10000 10000 10000 520545 5344 12322 12322 12322 14773 4500 19273 X 6951 6951 false false false false false false false true true FL true false false false false true N/A Krystel Torres 3528730848 8435 SW 80th Street 2 Ocala FL 34481 false false false false false false false false false false false false false false false false false false false false false false STEPHANIE BERGEN 8435 SW 80TH STREET STE 2 OCALA FL 34481 ASST SEC 1.00 0 KENNETH D COLEN 8435 SW 80TH STREET STE 2 OCALA FL 34481 President 4.00 0 ROBERT COLEN 8435 SW 80TH STREET STE 2 OCALA FL 34481 ASST SEC/DIR 2.00 0 GERALD R COLEN 8435 SW 80TH STREET STE 2 OCALA FL 34481 TREAS/SEC/DIR 1.00 0 LESLEE R COLEN 8435 SW 80TH STREET STE 2 OCALA FL 34481 Vice President 1.00 0 NONE NONE Payments to support and assist aged individuals in maintaining their home environment. Three beneficiaries assisted during the current year. 62770 The foundation purchased the remainder interest in 8814 SW 93rd Lane, Unit C, Ocala, FL to provide the aged owner of the retained life estate with funds needed to maintain her home environment. Additional amounts paid in excess of the computed annuity over the seller's life, and for the purposes described above, are treated by the foundation as qualifying distributions made directly for the active conduct of activities constituting its charitable purpose. See Reg Section 53.4942(B)-1(B). During the foundation's fiscal year ended November 30, 2024, $18,728 of direct aid has been paid to, or on behalf of, the seller of the remainder interest. Of this amount, $2,064 represents amounts paid directly for the conduct of activities constituting the charitable exempt purpose. 16664 The foundation purchased the remainder interest in 8702 A SW 93rd Lane, Ocala, FL to provide the aged owner of the retained life estate with funds needed to maintain her home environment. Additional amounts paid in excess of the computed annuity over the seller's life, and for the purposes described above, are treated by the foundation as qualifying distributions made directly for the active conduct of activities constituting its charitable purpose. See Reg Section 53.4942(B)-1(B). During the foundation's fiscal year ended November 30, 2024, $20,090 of direct aid has been paid to, or on behalf of, the seller of the remainder interest. Of this amount, $12,667 represents amounts paid directly for the conduct of activities constituting the charitable exempt purpose. 7423 24087 19483066 58826 7818 19549710 0 19549710 350000 19199710 959986 959986 12322 12322 947664 947664 947664 561281 24087 585368 947664 371087 585368 371087 0 214281 733383 Krystel Torres 8435 SW 80TH STREET SUITE 2 OCALA FL 34481 3528730848 COLENFOUNDATION@GMAIL.COM THE FOUNDATION HAS AN "APPLICATION FOR GRANT" FORM TO BE COMPLETED BY ALL 501(C)(3) APPLICANTS. IN ADDITION, THE FOUNDATION, THROUGH ITS BOARD OF DIRECTORS, HAS ESTABLISHED CERTAIN PROCEDURES TO BE FOLLOWED IN EVALUATING POTENTIAL BENEFICIARIES OF ITS REMAINDER INTEREST PROGRAM. THE BOARD OF DIRECTORS OF THE COLEN FOUNDATION, INC. EVALUATES POTENTIAL BENEFICIARIES PRIOR TO APPROVAL OF THEIR PARTICIPATION IN ITS RENTAL OR REMAINDER INTEREST PROGRAM. THE PROCEDURES SET FORTH BELOW ARE TO BE FOLLOWED IN EVALUATING EACH BENEFICIARY:1. ADVISE THE SENIOR CITIZEN TO SEEK INDEPENDENT LEGAL COUNSEL AND INDEPENDENT FINANCIAL ADVICE.2. DETERMINE THAT THE SENIOR CITIZEN HAS NO MORE THAN A MODERATE INCOME OR LOW INCOME THAT PROVIDES INSUFFICIENT CASH FOR DAILY LIVING EXPENSES. 3. DETERMINE THAT THE MARKET VALUE OF THE SENIOR CITIZEN'S HOME IS IN A MODERATE PRICE RANGE (IN THE CASE OF THE REMAINDER INTEREST PROGRAM).4. CONSULT WITH THE SENIOR CITIZEN'S RELATIVES REGARDING THE POSSIBILITY OF PROVIDIN NONE THE FOUNDATION MAKES GRANTS TO QUALIFIED CHARITIES AND PROVIDES ASSISTANCE TO THE CHARITABLE CLASS OF THE AGED TO ENABLE MEMBERS OF THE CLASS TO MAINTAIN A MODEST STANDARD OF LIVING IN THEIR COMMUNITIES DURING THEIR DECLINING YEARS. Public Education Foundation of Mari 1236 NW 4th Street Ocala FL 34475 NONE PC Charitable Contribution 3000 Canine Companions for Independence 8150 Clarcone Ocoee Road Orlando FL 32868 NONE PC Charitable Contribution 3000 Canine Assisted Therapy Inc 1040 NE 45th Street Oakland Park FL 33334 NONE PC Charitable Contribution 2000 Hillel School of Tampa Inc 2020 W Fletcher Avenue Tampa FL 33612 NONE PC Charitable Contribution 40000 Israel Guide Dog Center for the Bli 968 Easton Road Suite H Warrington PA 18976 NONE PC Charitable Contribution 2000 National Disaster Search Dog 6800 Wheeler Canyon Road Santa Paula CA 93060 NONE PC Charitable Contribution 3000 Temple Beth Shalom 6140 SW 78th Ave Road Ocala FL 34476 NONE PC Charitable Contribution 75000 Horticultural Arts Park Institute I 8435 SW 80th Street Suite 2 Ocala FL 34481 NONE PC Charitable Contribution 142846 The Perlman Music Program Suncoast PO Box 3407 Sarasota FL 34230 NONE PC Charitable Contribution 2000 Congregation B'nai Israel of St Pet 300 58th Street North St Petersburg FL 33710 NONE PC Charitable Contribution 70000 Life Estate Karel Dupree 8830 SW 82nd Court Road Ocala FL 33481 NONE I Support and Assist Aged Individuals 48039 Life Estate Marguerite Cox 8702 A SW 93rd Lane Ocala FL 34481 NONE I Support and Assist Aged Individuals 12667 Life Estate Judith Packard 8702 A SW 93rd Lane Ocala FL 34481 NONE I Support and Assist Aged Individuals 2064 Union for Reform Judiasm-Camp Colem 1580 Spalding Dr Atlanta GA 30350 NONE PC Charitable Contribution 10000 Project Hope of Marion County 830 NE 28th Street Unit 201 Ocala FL 34470 NONE PF Charitable Contribution 50000 Tampa Bay Performing Arts Center 1010 North WC MacInnes Place Tampa FL 33602 NONE PC Charitable Contribution 25000 Hand In Hand Center for Jewish-Arab PO Box 80102 Portland OR 97280 NONE PF Charitable Contribution 18000 Friends of Yad LaKashish-Lifeline f PO Box 494 Englewood NJ 07631 NONE PC Charitable Contribution 10000 Savannah Voice Festival Inc PO Box 2045 Savannah GA 31402 NONE PC Charitable Contribution 10000 The Community Foundation for Ocala 324 SE 24 Street Ocala FL 34471 NONE PF Charitable Contribution 10000 Hillel Jewish Student Center of St 3225 S MacDill Ave Suite 129-185 Tampa FL 33629 NONE PF Charitable Contribution 5000 Neighborly Care Network 13945 Evergreen Ave 4th Fl Clearwater FL 33762 NONE PF Charitable Contribution 3000 546616 14 168453 14 249240 18 520545 938238 938238 false false false false false false false false false false Accounting Fees 8995 900 0 8095 The Colen Foundation ("Foundation") submits for the reasons set forth below that cash balances greater than an amount equal to 1-1/2% of its assets of the type described in Treasury Regulation section 53.4942(a)-2(c)(3)(i) are necessary for payment of its anticipated expenses and charitable disbursements, within the meaning of Treasury Regulation section 53 .4942(a)-2(c)(3)(iv).During the past five tax years, the Foundation has distributed a total of $3,131,540 for an average of in excess of approximately $626,308 per year in qualifying charitable distributions, as follows:Tax Year Ended Distributions:11/30/23 $563,37311/30/22 $656,73511/30/21 $595,14511/30/20 $720,90011/30/19 $595,387The Foundation anticipates making qualifying distributions of at least $350,000 during the fiscal year ending November 30, 2025, and requires the cash deemed held for charitable purposes at its November 30, 2024 year end to accomplish this purpose.The officers and directors of the Foundation are not compe Bank of America Corp 4.45% 3/3/2026 40321 39826 BP Capital Markets PLC 53721 48953 Brandywine Oper Partners 3.95% 11/15/27 24813 23617 Cigna Corporation NTS 3.25%4/15/2025 25997 24852 CVS Health Corp Special 4.1% 3/25/2025 34712 34907 Goldman Sachs Group Inc 4.25% 10/21/2025 39874 39799 JP Morgan Chase & Co 3.900% 07/15/2025 26980 24900 Lehman Brothers Holdings 12/28/37 16363 70 Lehman Brothers Holdings 2/13/37 16800 70 Lehman Brothers Holdings 3/27/37 8155 36 Lloyds Banking Group PLC 35733 34798 Morgan Stanley MTN ISIN 4.000% 07/23/25 27087 24887 Royal Bank of Canada 40477 39927 Shire Acq Inv Ireland Da 29539 29311 Telefonica Emisiones SAU 4.103% 3/8/21 39830 39500 Verizon Communications 2.625% 8/15/2026 39921 43752 Celgene Corporation 3.45% 11/15/27 53859 48019 National Rural Utilities 3.5% 3/15/27 11013 9638 National Rural Utiltiies 3.0% 5/15/27 18215 16212 Simon Property Group 3.375% 12/1/27 53807 48571 V.F. Corporation 2.8% 4/23/27 26621 23554 Federal Farm Credit 2.92% due 4/29/2026 46189 44154 Federal Farm Credit 2.6% due 7/12/2029 54017 46516 Federal Agricultural Mortgage 1.08% 99875 89126 Tennessee Valley Authority 89770 83995 United States Dept of Housing 5.77% 8199 8016 Federal Farm Credit 3.67% due 5/16/2028 263423 244543 Federal Farm Credit 2.96% due 4/17/2029 106150 94725 Apple Inc. NTS ISIN 1.20% 97460 90899 Bank of Nova Scotia 1.125% 94849 87584 Canadian Imperial Bank 1.10% 49625 47388 Wells Fargo & Company 2.25% 10154 8904 Oracle Corporation NTS 1.65% 76052 72104 Oracle Corporation NTS 2.3% 76529 69777 The Coca-Cola Company 1.00% 96101 90306 JP Morgan Chase & Co. 3.6250% 82305 72942 Federal Home Loan 4.00% Due 5/23/25 101475 99823 Federal Home Loan 3.5% Due 5/23/25 100116 99587 Wells Fargo & Company 3% Due 10/23/26 102199 96999 The Toronto-Dominion Bank 1.1% 9/20/26 97000 92583 Federal Home Loan 5% Due 5/26/37 49625 49994 Federal Home Loan 5.4% Due 2/28/29 99900 99998 Federal Home Loan 5.4% Due 8/13/31 49938 50018 Federal Farm Credit 5.65% Due 8/14/34 49900 49992 Ace Ina Holdings Inc. NTS ISIN 3.15% 198796 199004 Adobe Systems Inc (ADBE) 138486 206372 Alphabet Inc (GOOGL) 220182 574430 Amazon.com Inc (AMZN) 258260 602881 Cisco Systems Incorporated (CSCO) 125672 177630 Intercontinental Exchange Inc (ICE) 138321 225344 Merck & Company Inc (MRK) 172106 233772 Microsoft Corporation (MSFT) 205764 635190 Nvidia Corp (NVDA) 26110 829500 Raymond James Bank Deposit Program 479777 479777 Texas Instrs Incorporated (TXN) 203892 301545 Unitedhealth Group Inc (UNH) 207335 488160 Visa Inc - Class A SHRS (V) 155618 315080 Apple Incorporated (AAPL) 231140 830655 Automatic Data Processing Inc (ADP) 182373 337623 Expeditors International Wash Inc (EXPD) 130983 182460 Flutter Entertainment PLC (PDYPY) 84943 207240 Intel Corporation (INTC) 393379 204425 Intuit (INTU) 144037 320865 JPMorgan Chase & Co (JPM) 211205 424524 Johnson & Johnson (JNJ) 120123 124008 Marsh & McLennan Companies (MMC) 155438 326522 Mariott International Inc (MAR) 169378 433635 Procter and Gamble Co (PG) 89146 125482 RPM International Inc (RPM) 200388 416340 Raytheon Technologies Corp (RTX) 196086 353307 Rio Tinto PLC Sponsored (RIO) 306517 282780 Taiwan Semiconductor Mfg (TSM) 174168 553980 Truist Finl Corp (TFC) 434562 524480 United Parcel Service Inc (UPS) 170013 217152 Waste Mgmt Inc Del (WM) 159850 342330 Accenture Plc Ireland (ACN) 203324 380489 Marvell Technology Group Limited (MRVL) 59208 203918 FIMM Government Portfolio MM (FRGXX) 325045 325045 Oracle Corporation (ORCL) 239428 609972 Chevron Corporation New (CVX) 219946 242895 Target Corporation 280748 264620 Clear Secure Incorporated Com Class A 58788 51760 Verizon Communications Inc (VZ) 160019 177360 1898989 1868868 Buildings 316432 316432 316432 Land 7818 ISHARES INCORPORATED CORE MSCI AT COST 231972 240865 ISHARES TR RUS 1000 VAL ETF (IWD) AT COST 303524 458918 ISHARES TR CORE MSCI EAFE AT COST 451346 492203 ISHARES TR CORE S&P MCP ETF AT COST 127208 209950 ISHARES TR CORE S&P SCP ETF AT COST 96761 149938 Celtic Bank Corp FCIC AT COST 50025 45145 HSBC Bank USA 3.3000% AT COST 223938 208993 HSBC Bank USA 3.2500% AT COST 31050 29382 JP Morgan Chase Bank 1.7% AT COST 225331 191725 Texas Exch Bank AT COST 150000 138369 ISHARES TR RUS 1000 GRW ETF (IWF) AT COST 319060 531837 Ally Bank Midvale, UT 2.95% Due 4/28/25 AT COST 161537 163957 JP Morgan Chase Bank 5.25% Due 7/16/25 AT COST 200227 200194 Legal Fees 5143 514 0 4629 Book-Tax Difference on Contributed Stock 35749 D&O Liability Insurance 1448 1448 Express Mail 18 18 Foundation Grant Expense 200 200 Licenses 159 159 Meals & Entertainment 95 95 Office Supplies 21 21 Raymond James Portfolio Fees 48800 48800 REMAINDER INTEREST 30804 6717 Taxpayer resided in a qualified disaster relief area that was impacted by Hurricane Debby, Helene and Milton in 2024. The 2023 Q3 & Q4 estimated tax payments and Extension payment were not due until 5/1/2025 under the relief in place. The taxpayer made their 2023 Q3 & Q4 and 2023 extension payment which included the amount owed for previous quarters prior to the 5/1/2025 deadline. Excise Taxes 9273 Foreign Taxes 1402 1402 Real Estate Taxes 136 136