The Crimson Riverstone Foundation
EIN 921776092About
We respectfully request that The Crimson Riverstone Foundation's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $351 penalty indicated on Form 2220 be abated because the underpayment in Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable 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 calculate its quarterly estimates for tax period ending December 31, 2024. The firm was unable to reconcile the Foundation's accounts fully in order to calculate the necessary estimated tax payment for Q4 based on the annualization method. The underpayment was no fault of the foundation's and the firm is enhancing its procedures to improve its reconciliation process for future quarters. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules, and respectfully request that no 2220 penalty be assessed.
Application Information
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2023 | N/A | $2.0M | $2.2M | N/A |
| 2024 | $58K | $5.0M | $3.5M | 9 |
Grant Size Distribution
Based on 9 grants on record
Geographic Distribution
Officers & Directors
Grants Awarded (9 total)
| Purpose | ||||
|---|---|---|---|---|
| Del Norte High School Foundation | San Diego, CA | $35,000 | DNHS Choir and General and Unrestricted | 2024 |
| Soi Dog | Houston, TX | $7,000 | General & Unrestricted | 2024 |
| Michael J Fox Foundation for Parkinsons Research | New York, NY | $5,000 | General & Unrestricted | 2024 |
| Humane Society International | Washington, DC | $4,000 | General & Unrestricted | 2024 |
| American Society for the Prevention of Cruelty to | New York, NY | $2,000 | General & Unrestricted | 2024 |
| Best Friends Animal Society | Kanab, UT | $2,000 | General & Unrestricted | 2024 |
| University of California Berkeley Foundation | Berkeley, CA | $2,000 | General & Unrestricted | 2024 |
| Kpbs San Diego | San Diego, CA | $500 | General & Unrestricted | 2024 |
| Operation for Hope Foundation Inc | La Jolla, CA | $500 | General & Unrestricted | 2024 |