2024-05-01T12:40:58-05:00 2023-06-30 651083521 Holyfield & Thomas LLC 125 Butler Street West Palm Beach FL 33407 990 2022-07-01 830462654 The Palm Beach Police and Fire Foundation Inc PALM 5618208118 139 North County Rd 26 Palm Beach FL 33480 Timothy Moran President 5618208118 2024-04-24 1 Timothy Moran 999009999 0 Scott Y Haynes CPA P01366363 5616896000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Timothy Moran 139 North County Rd 26 Palm Beach FL 33480 10257612 0 X www.pbpf.us X 2006 FL The PBPFF is a charitable organization that supports the Town of (continued on Schedule O)Palm Beach First Responders and the local community at large with education, equipment and advocacy; empowering peace of mind with the knowledge that their families and futures are safe and supported. 18 18 7 40 0 0 4779926 5418472 0 0 265602 288199 -318778 -498964 4726750 5207707 375847 1438681 0 0 309656 353919 0 0 281338 2143560 1266056 2829063 3058656 1897687 2149051 12553340 16159222 62604 395954 12490736 15763268 X The PBPFF is a charitable organization that supports the Town of Palm Beach First Responders and the local community at large with education, equipment and advocacy; empowering peace of mind with the knowledge that their families and futures are safe and supported. The Foundation pursues this mission by actively engaging in initiatives and programs approved by the Board Directors, including but not limited to: Scholarships for the education of children of police and fire personnel, Supplemental equipment and training, Emergency assistance to police and fire personnel in need, Providing Public Safety training and education to the community at large, and by advocating for and promoting community wide support for the police and fire personnel of the Town of Palm Beach. 0 0 2170952 1438681 Higher Education Scholarships - This program provides scholarships to qualified children of sworn officers, firefighters and civilian employees of the Palm Beach Police and Fire Rescue Departments. Over the past year, the Foundation awarded higher education scholarships to 33 qualified children, totaling $318,000. Emergency Financial Assistance - This program offers emergency financial assistance to officers and firefighters injured or disabled in the line of duty, or suffering from other personal emergencies or financial crisis.Police and Fire Rescue Dept Supplements - (continued on Schedule O) This program provides supplementary funding to the police and fire rescue departments for additional training, equipment and other unfunded needs, and grants to officers and firefighters to attend events or in times of need.Preston Bernick Retention Program - the Palm Beach Police & Fire Foundation makes an annual contribution to the Palm Beach First Responders Foundation to fund the Preston Bernick Retention plan, a qualified retirement plan built to encourage recruitment and retention for the Palm Beach Police and Fire Rescue Departments. 2170952 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 18 0 7 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 FL X Rebecca Torres 5618208118 139 N County Rd Suite 26 Palm Beach FL 33480 X John F Scarpa CEO & Chairman 20.00 X X 0 0 0 Timothy Moran President 20.00 X X 0 0 0 David S Mack Vice President 5.00 X X 0 0 0 Michael Belisle 1st Vice President 20.00 X X 0 0 0 Annie Falk Asst. Secretary/Treasurer 5.00 X X 0 0 0 Howard B Bernick Director 1.00 X 0 0 0 E Llwyd Ecclestone Director 1.00 X 0 0 0 Mark E Freitas Director 1.00 X 0 0 0 Jeff Greene Director 1.00 X 0 0 0 Lawrence Herbert Director 5.00 X 0 0 0 John W Jordan II Director 1.00 X 0 0 0 Michele Kessler Director 5.00 X 0 0 0 William I Koch Director 1.00 X 0 0 0 David Levinson Director 10.00 X 0 0 0 Jeffrey A Marcus Director 5.00 X 0 0 0 John WS Preston Director 5.00 X 0 0 0 Thomas C Quick Director 1.00 X 0 0 0 Herb Shear Director 1.00 X 0 0 0 Rebecca Torres Executive Director 40.00 X 134517 0 0 134517 0 0 1 0 0 0 0 773188 1733051 2912233 142963 5418472 335467 335467 4065953 4113221 -47268 -47268 -47268 437720 1733051 936684 -498964 -498964 5207707 0 0 -210765 153102 153102 1285579 1285579 296671 118668 59335 118668 14283 5713 2857 5713 19852 7941 3970 7941 23113 9245 4623 9245 9090 9090 35838 35838 64360 64360 81207 13982 11297 55928 181903 118237 63666 252847 736 240651 11460 39934 4792 27155 7987 75379 75379 6352 6352 Membership 326988 269738 57250 Comunity Development an 188509 182854 5655 Repairs and Maintenance 3649 365 2554 730 3058656 2170952 606366 281338 949475 629118 492666 532559 219865 209056 410841 257481 225309 153360 10666025 14289196 0 345933 12553340 16159222 32604 45003 30000 1000 0 349951 62604 395954 X 12044222 14689280 446514 1073988 12490736 15763268 12553340 16159222 2149051 1123481 0 X X 0 1 X 1 0 X 2034614 3046621 3232261 4219926 4673472 17206894 2034614 3046621 3232261 4219926 4673472 17206894 17206894 118968 165945 208884 208249 335467 1037513 18244407 0.94310 0.94820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 279209 192779 86430 131632 64702 66930 153360 Other liabilities 349951 349951 X 7192533 1123481 936701 2060182 5132351 75356 75356 5207707 3940112 945816 945816 2994296 64360 64360 3058656 Part X, Line 2: The Foundation is exempt from income taxes as an organization described under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the Foundation's tax-exempt purpose would be subject to taxation as unrelated business income. The Foundation has not realized any such income to date, and no provision for income taxes has been made in the accompanying financial statements. The Foundation files a single federal information return with the Internal Revenue Service, and is not classified as a private foundation. The Foundation follows FASB ASC Topic 740-10, Accounting for Uncertainty in Income Taxes, which seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. This topic prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. The Foundation assesses its income tax positions based on management's evaluation of the facts, circumstances, and information available at the reporting date. Management does not believe the Foundation has any significant uncertain tax positions that would be material to the financial statements. Furthermore, there are no Federal or State open-year tax returns under audit. Part XI, Line 2d - Other Adjustments: Special Fundraising Events 936,684. Palm Beach First Responders Foundation, Inc. (EIN: 86-2122418) 17. Part XI, Line 4b - Other Adjustments: Investment Management Fee 64,360. Palm Beach First Responders Foundation, Inc. (EIN: 86-2122418) 10,996. Part XII, Line 2d - Other Adjustments: Special Fundraising Events 936,684. Palm Beach First Responders Foundation, Inc. (EIN: 86-2122418) 9,132. Part XII, Line 4b - Other Adjustments: Investment Management Fee 64,360. Police Ball and Auction 1862220 1528500 333720 318770 32400 437038 Golf 308551 204551 104000 37344 111132 2170771 1733051 437720 356114 32400 548170 936684 -498964 1 Palm Beach Police Department 345 S County Road Palm Beach FL 33480 65533 0 Replacement guns for Palm Beach Police. Town Of Palm Beach 345 S County Road Palm Beach FL 33480 37569 0 Elegard Stretchers for Palm Beach Fire Rescue (paid to the Town). Town Of Palm Beach 345 S County Road Palm Beach FL 33480 50000 0 For enhancement of camera system. Educational scholarships - varing from $6,000 - $8,000 depending on students' GPA. 35 317970 Scholarships - $159,598 Police, $148,372 Fire Department Police & Fire Awards, Grants and Special Needs 130 147958 Police Officer/ Firefighter of the Quarter / Year Awards, Turkey Trot Registration, Retirement Parties, costs related to police vs fire fishing tournament, $200 holiday gifts per employees. New Benefit - Preston Bernick Retention Program Contributions 240 650000 Benefit plan to secure and retain high quality departmental staff. Equipment and other support 130 127462 Balance of cost of Police Department Kitchen reconstruction, supplies for police kitchen renovation. Costs related to Palm Beach Police and Fire Department Centennial Celebration 75 26065 Police Department Centennial Celebration gifts - badges, patches, etc. Other support given to the police and fire department 150 16124 Part I, Line 2: The Palm Beach Police & Fire Foundation funds and administers three scholarship programs that have common basic qualifications for all students and involve a similar application, review, approval, maintenance, and renewal process. The Academic Gifts and Koch Scholarships have additional qualifications. The application process is administered by a volunteer scholarship committee, which receives, processes, and maintains all applications and related documents. This scholarship program is available to all students meeting the minimum qualifications listed and who are enrolled in a two (2) or four (4) year program. Students initially selecting a two-year program of sixty (60) credits may transfer to a university and continue their education for two (2) additional years. Scholarship award amounts are reduced for those attending State Colleges (f/k/a community colleges) due to the reduced cost. Award amounts are $5,000 per year for State Colleges and $7,000 per year for State Universities. The Brian P. Burns Educational Scholarship is for those students who achieve a GPA of 3.0 or higher. In addition to the basic qualifications, these students must have a final GPA at the end of each school year of 3.0 or higher to qualify. Students may earn this additional scholarship award on a yearly basis. Students must maintain eligibility with a 3.0 GPA or higher. The Award is $3,000 per year of undergraduate education for State University programs. The William I. Koch scholarship is for advanced degree programs only, such as masters and doctoral degrees, and is intended to follow completion of a typical baccalaureate program. This program is offered in place of both the basic foundation and the Palm Beach Police & Fire Academic Gift scholarship programs. Students must have a 3.2 GPA and successful completion of required post-graduate entrance examinations. The applicant must have been accepted to a master's, doctoral, or specialty degree program. Students may apply after graduation and before the age of 25 if all other qualifications are met. The annual award amount is $6,000. Basic Qualifications Direct Scholarships: 1. Initial Eligibility: a. Student must be the natural born child or adopted child of: i.) an active uniformed employee of the Town of Palm Beach Police & Fire Department who has been employed for at least 2 years, or ii.) a civilian employee of the Town of Palm Beach Police & Fire Department who has been employed for at least 5 years, iii.) a retired employee of the Town of Palm Beach Police & Fire Department with at least 20 years of service and retired by town rules following regular retirement and separation of employment within the past 5 years. (a) Based on prior agreement, a retired employee of the Town of Palm Beach Police & Fire Department with at least 20 years of service and retired by town rules following regular retirement and was employed on December 31, 2009 and who separated from service within the past ten (10) years. 2. Student must be under 25 years of age. (Masters/ Doctorate included) 3. Student must be accepted to and enrolled as a full-time student (minimum of 12 credits per semester) at a college or university, accredited by a recognized regional accreditation body. The Scholarship Committee will consider technical or trade schools on a case-by-case basis. 4. Student must have graduated from high school, or expect to graduate from high school, or possess a G.E.D by the initial application due date and have an initial unweighted Grade Point Average of 2.0. Applicants should also demonstrate evidence of academic performance and likely success in college with a record of preparatory coursework and extracurricular activities. 5. Student must maintain the minimum GPA of 2.0 for subsequent renewals of the scholarship. Students will be required to provide a transcript of all grades to the scholarship committee along with their renewal application. High School Level Scholarships: Oxbridge Academy Scholarship 90% of tuition The Foundation will offer two (2) annual scholarships to Oxbridge Academy. One is funded by Mr. Koch, and the second will be funded by the Palm Beach Police & Fire Foundation, as a match to Mr. Koch. Cardinal Newman High School Scholarship 100% of tuition > The Foundation will offer two (2) annual scholarships to Cardinal Newman High School. One (1) for a child of a Police Officer and one (1) for a child of a Firefighter. Cardinal Newman High School will fund up to $10,000.00 and the Foundation will fund $7,500.00. The student must apply directly to Cardinal Newman High School and pass the admission exam. (For the Police Department Step Up Law Enforcement eligibility available) X 6 142963 Public Exchange 0 0 0 Form 990, Part VI, Section B, line 11b A copy of the Form 990 is provided to each member of the board of directors before it is filed. Form 990, Part VI, Section B, line 12c The board is notified of situations deemed to be a conflict of interest. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents and other financial statements available to the public upon request. Part XII Line 2c The audit report is reviewed annually at the audit report review meeting as presented by the independent auditor. The process has not changed from prior year.