Geroulanos Foundation

About

Geroulanos Foundation (EIN: 87-1007052) respectfully requests abatement of any penalties for late filing of Form 990-PF for taxable year ending December 31, 2021 because the delay was inadvertent, unintended, and due to reasonable causes. Treasury Regulations Section 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to prepare its Form 990-PF for tax period ending 12/31/2021. The Foundation's 2021 Form 8868, Application for Extension of Time to File, was timely filed on May 15, 2021. The extension was originally transmitted electronically to the IRS, but was rejected because of an issue with the Business Name Control. The Foundation's Administrator corrected the issue and attempted to resubmit within the allowed 5-day correction period, but the tax software rejected the attempt citing the fact that it was past the original due date. The Foundation's Administrator contacted the software company, which acknowledged the oversight and committed to correcting the error. However, the Administrator was not able to re-transmit the updated extension request before the end of the correction period. The delay in filing Form 8868 for the taxable year ending 2021 is no fault or willful neglect of the foundation. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's actions were reasonable and in good faith. These administrative actions were in no way an intentional disregard of the IRS rules and therefore are entitled to abatement of any penalty. The organization acted in good faith in complying with the filing deadline and in rectifying the situation as soon as it was known. Therefore, we again request that no penalty be assessed for late filing.

Focus Areas

Financial Trends

Grant Size Distribution

Based on 3 grants on record

Geographic Distribution

Grants Awarded (3 total)