| 6/30/2022 PAYMENTS |
FORM 990-PF, PART V, LINE 6A |
THE ENDA MCCONNELL CLARK FOUNDATION (EMCF) FISCAL YEAR 9/30/2020 (FY20) FORM 990-PF WAS FILED AND ACCEPTED BY THE IRS ON 8/13/2021. EMCF FISCAL YEAR 9/30/2021 (FY21) FORM 990-PF WAS ALSO FILED AND ACCEPTED BY THE IRS ON 5/13/2022 (DISCLOSING AN OVERPAYMENT OF $228,288 ON PART VI, LINE 10 OF THE FORM 990-PF). EMCF RECEIVED A NOTICE FROM THE IRS DATED JUNE 6, 2022 INDICATING THE ORGANIZATION HAS A BALANCE DUE OF $78,936 INSTEAD OF AN OVERPAYMENT OF $228,288 AS DISCLOSED ON THE FILED FY21 FORM 990-PF. THE ORGANIZATION HAS REACHED OUT TO THE IRS TO DISCUSS THE NOTICE AND WAS INFORMED THAT THE BALANCE DUE ON THE FY21 FORM 990-PF WAS AS A RESULT OF THE IRS DISALLOWING THE FY20 OVERPAYMENT CREDITED TO FY21 ESTIMATE TAX. IT IS OUR UNDERSTANDING THAT THE REASON OF THE DISALLOWANCE IS DUE TO THE FACT THAT THE IRS HAS NOT YET PROCESSED THE FY20 FORM 990-PF WHICH HAS BEEN FILED AND ACCEPTED ON 8/13/2021.AFTER MULTIPLE COMMUNICATIONS WITH THE IRS TO EXPEDITE THE PROCESSING OF THE FY20 FORM 990-PF, THE ORGANIZATION WAS INFORMED ON MARCH 13, 2023 BY AGENT MS. EURESTI (AGENT ID: 1003375789) TO FILE AN AMENDED FY20 RETURN IN ORDER TO PUSH THE PROCESS FORWARD AND ULTIMATELY RESOLVE THE NOTICE ISSUE. THROUGHOUT THE COMMUNICATIONS WITH THE IRS, IT WAS DISCOVERED THE TOTAL PAYMENTS RECOGNIZED BY THE IRS FOR THE FY20 FILING PERIOD WERE $812,363 INSTEAD OF $729,363 AS ORIGINALLY REPORTED ON THE FY20 FORM 990-PF. THE ORGANIZATION HAD INADVERTENTLY LEFT OUT $83,000 OF QUARTERLY ESTIMATED PAYMENTS ON THE FY20 RETURN. BASED ON THE INFORMATION PROVIDED, EMCF IS FILING AN AMENDED FORM 990-PF FOR THE FY20 TAX PERIOD IN ORDER TO CARRYFORWARD THE RIGHT AMOUNT OF ESTIMATED TAX CREDIT TO FY21 AND TO ENSURE THE FY20 FILING IS ACCEPTED AND PROCESSED BY THE IRS. AS A RESULT OF THE ABOVE OVERPAYMENT ADJUSTMENTS ON THE AMENDED FY20 FORM 990-PF, EMCF IS ALSO AMENDED ITS FY21 FORM 990-PF TO REPORT THE CORRECT OVERPAYMENT FROM THE AMENDED FY20 FORM 990-PF AND TO CORRECT THE OVERPAYMENT AMOUNT ON FY21 FORM 990-PF TO CREDIT TOWARDS FY22 FORM 990-PF (2021 ESTIMATED TAX). THE FOLLOWING ARE THE CHANGES ON THE AMENDED FY21 FORM 990-PF: - FORM 990-PF, PART VI, LINE 6A IS UPDATED FROM $753,574 TO $836,574. PART VI, LINE 7 IS ALSO UPDATED TO $836,574. - FORM 990-PF, PART VI, LINE 10 IS ADJUSTED FROM $228,288 TO $311,288. - FORM 990-PF, PART VI, LINE 11 AMOUNT TO BE CREDITED TO 2021 ESTIMATED TAX IS UPDATED TO $311,288 AND $0 AMOUNT IS BEING REFUNDED. |