Kiersznowski Family Charitable Trust

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THE FILING ORGANIZATION, KIERSZNOWSKI FAMILY CHARITABLE TRUST, TRANSFERRED ALL ASSETS AND LIABILITIES IN 2022 TO ITS SUCCESSOR ORGANIZATIONS, THE FERN ODESSA CHARITABLE TRUST [EIN: 86-3883161] AND THE DAVID KIERSZNOWSKI CHARITABLE TRUST [EIN: 88-6524757]. ADDITIONAL TAX REFUNDS RECEIVED BY KIERSZNOWSKI FAMILY CHARITABLE TRUST WAS RECEIVED IN 2022 AND FURTHER DISTRIBUTED TO THE SUCCESSOR ORGANIZATIONS. THE TRANSFER WAS NECESSARY PURSUANT TO THE DIVORCE AGREEMENT BETWEEN THE DIRECTORS AND FOUNDERS OF THE FILING ORGANIZATION, DAVID KIERSZNOWSKI AND DEMI LLOYD. THE DIVORCE AGREEMENT STIPULATED THAT EACH PARTY WOULD ESTABLISH A SEPARATE PRIVATE FOUNDATION AND THE ASSETS THE FILING ORGANIZATION WOULD BE DISTRIBUTED TO THOSE NEW FOUNDATIONS. THE TRANSFER OCCURRED THROUGH AN ASSIGNMENT AND ASSUMPTION AGREEMENT (THE AGREEMENT) BETWEEN THE ORGANIZATIONS. PER THE AGREEMENT, ALL ASSETS PREVIOUSLY HELD BY THE KIERSZNOWSKI FAMILY CHARITABLE TRUSTS BECAME THE PROPERTY OF THE SUCCESSOR ORGANIZATIONS DURING 2022. SIMILARLY, ALL LIABILITIES BECAME THE RESPONSIBILITY OF THE SUCCESSOR ORGANIZATIONS EFFECTIVE AT THE SAME TIME. BOTH THE FERN ODESSA CHARITABLE TRUST AND THE DAVID KIERSZNOWSKI CHARITABLE TRUST OBTAINED FAVORABLE RULINGS OF TAX EXEMPTION FROM THE INTERNAL REVENUE SERVICE AND ARE RECOGNIZED AS PRIVATE FOUNDATIONS DESCRIBED IN INTERNAL REVENUE CODE SECTIONS 501(C)(3) AND 509(A). ALL ASSETS TRANSFERRED UNDER THE AGREEMENT ARE SUBJECT TO A RESTRICTION THAT THEY CAN ONLY BE USED FOR CHARITABLE, SCIENTIFIC, LITERARY, EDUCATIONAL AND PREVENTION OF CRUELTY TO CHILDREN OR ANIMALS' PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3). THIS RESTRICTION IS CONSISTENT WITH SUCCESSOR ORGANIZATIONS ORGANIZING DOCUMENTS AND STATUS AS A TAX EXEMPT ORGANIZATION. THE KIERSZNOWSKI FAMILY CHARITABLE TRUST HAS BEEN TERMINATED EFFECTIVE DECEMBER 31, 2023. ACTIVITY DURING TAX YEAR 2023 WAS LIMITED TO WINDING DOWN OPERATIONS TO SUPPORT THE TRANSFER OF ASSETS AND OPERATIONS TO THE SUCCESSOR ORGANIZATIONS. THE KIERSZNOWSKI FAMILY CHARITABLE TRUST DID NOT HOLD ANY ASSETS AT TIME OF DISSOLUTION. AS SUCH, THE KIERSZNOWSKI FAMILY CHARITABLE TRUST WILL NOT BE REQUIRED TO PAY ANY TERMINATION TAX UNDER INTERNAL REVENUE CODE SECTION 507.

Financial Trends

Grant Size Distribution

Based on 3 grants on record

Geographic Distribution

Grants Awarded (3 total)

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