TOM RUSSELL CHARITABLE FOUNDATION INC: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- TOM RUSSELL CHARITABLE FOUNDATION INC (EIN 36-6082517)
- Tax period
- 2023-09-01 to 2024-08-31
- Filed
- 2025-03-14
- IRS object ID
- 202520739349100307
- Schema version
- 2023v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- All Oth Prog Rltd Investments Sch
- Depreciation Schedule
- Expenditure Responsibility Stmt
- General Explanation Attachment
- Investments Corp Stock Schedule
- Investments Other Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Increases Schedule
- Other Professional Fees Schedule
- Reasonable Cause Explanation
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-03-14T07:45:22-04:00 | ReturnTs |
| Tax Period End | 2024-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3333 New Hyde Park Rd Ste 406 | AddressLine1Txt |
| City | New Hyde Park | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11042 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 366082517 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Tom Russell Charitable Foundation Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % Foundation Source | InCareOfNm |
| Business Name Control | TOMR | BusinessNameControlTxt |
| Phone | 8008391754 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1Txt |
| City | Wilmington | CityNm |
| State Abbreviation | DE | StateAbbreviationCd |
| ZIP | 198091377 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | David Lindquest | PersonNm |
| Person Title | President | PersonTitleTxt |
| Phone | 8008391754 | PhoneNum |
| Signature | 2025-02-20 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jeffrey D Haskell | PreparerPersonNm |
| PTIN | P01345770 | PTIN |
| Phone | 8008391754 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $33,505,784 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $0 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $16,801 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $16,801 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $646,767 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $646,767 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $8,755,902 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $29,130,585 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $8,755,902 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $9,419,470 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $9,419,470 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $73,125 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $73,125 | CompOfcrDirTrstDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $6,000 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $6,000 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $12,000 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $12,000 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $66,015 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $58,740 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $7,275 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $22,706 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $106 | TaxesNetInvstIncmAmt |
| Trav Conf Meeting Rev And Expnss | $19,816 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $19,816 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $69,700 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $46 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $69,654 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $269,362 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $58,892 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $187,870 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $540,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $540,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $809,362 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $58,892 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $727,870 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $8,610,108 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $9,360,578 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $591,347 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $223,439 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $223,439 | SavAndTempCashInvstEOYFMVAmt |
| Corporate Stock BOY | $16,892,067 | CorporateStockBOYAmt |
| Corporate Stock EOY | $22,777,116 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $27,868,163 | CorporateStockEOYFMVAmt |
| Other Investments EOY | $2,904,967 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $3,033,182 | OtherInvestmentsEOYFMVAmt |
| Other Assets BOY | $2,192,000 | OtherAssetsBOYAmt |
| Other Assets EOY | $2,381,000 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $2,381,000 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $19,675,414 | TotalAssetsBOYAmt |
| Total Assets EOY | $28,286,522 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $33,505,784 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $19,675,414 | RetainedEarningBOYAmt |
| Retained Earning EOY | $28,286,522 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $19,675,414 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $28,286,522 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $19,675,414 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $28,286,522 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $19,675,414 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $8,610,108 | ExcessRevenueOverExpensesAmt |
| Other Increases | $1,000 | OtherIncreasesAmt |
| Subtotal | $28,286,522 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $28,286,522 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | Publicly-traded Securities | PropertyDesc |
| Gross Sales Price | $29,130,585 | GrossSalesPriceAmt |
| Cost Or Other Basis | $20,374,683 | CostOrOtherBasisAmt |
| Gain Or Loss | $8,755,902 | GainOrLossAmt |
| Gains Minus Excess Or Losses | $8,755,902 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $8,755,902 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $130,112 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $130,112 | SubtotalAmt |
| Tax Based On Investment Income | $130,112 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $23,233 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $115,000 | ExtsnRequestIncomeTaxPaidAmt |
| Total Payments And Credits | $138,233 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $8,121 | OverpaymentAmt |
| Applied To ES Tax | $8,121 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | Yes (true) | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | IL | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8008391754 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 Silverside Road Suite 123 | AddressLine1Txt |
| City | Wilmington | CityNm |
| State Abbreviation | DE | StateAbbreviationCd |
| ZIP | 198091377 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | false | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | Yes (true) | MaintainedExpenditureRspnsInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| Kwadwo Acheampong | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir | 1.0 | $0 | $0 | $0 |
| J KIRBY AIKEN | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Pres, Sec, Senior Dir | 5.0 | $20,625 | $0 | $0 |
| Dawn Arthur | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir | 1.0 | $0 | $0 | $0 |
| John L Bishop | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | VP, Senior Dir | 5.0 | $18,750 | $0 | $0 |
| Crawford Crenshaw | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Treas, Senior Dir | 5.0 | $15,000 | $0 | $0 |
| David S Lindquist | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Sec, Senior Dir, Pres | 5.0 | $18,750 | $0 | $0 |
| Miguel A Rivera Rodgriguez | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir | 1.0 | $0 | $0 | $0 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FOUNDATION SOURCE | |||||
| 55 WALLS DRIVE 3RD FL | FAIRFIELD | CT | 06824 | ADMINISTRATIVE | $66,236 |
| CAP Financial Partners LLC | |||||
| 4208 Six Forks Road Suite 1700 | RALEIGH | NC | 27609 | INVESTMENT MGT | $58,740 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Summary Of Direct Chrtbl Acty | SummaryOfDirectChrtblActyGrp |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | THE RESURRECTION PROJECT - TO INCREASE ACCESS TO AFFORDABLE HOUSING TO LOW INCOME AND IMMIGRANT FAMILIES | Description1Txt |
| Expenses1 | $350,000 | Expenses1Amt |
| Description2 | RISE SE RALEIGH CHARTER SCHOOL, INC. - TO GROW AND IMPROVE OPERATIONS AND EDUCATIONAL PROGRAMMING | Description2Txt |
| Expenses2 | $325,000 | Expenses2Amt |
| All Other Program Rltd Invst Tot | $520,000 | AllOtherProgramRltdInvstTotAmt |
| Total | $1,195,000 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $27,325,525 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $471,356 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $1,512,568 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $29,309,449 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $29,309,449 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $439,642 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $28,869,807 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $1,443,490 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $1,443,490 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $130,112 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $130,112 | TotalTaxAmt |
| Distributable Before Adj | $1,313,378 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $1,007,000 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $2,320,378 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $2,320,378 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $727,870 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $1,195,000 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $1,922,870 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,320,378 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $1,910,154 | UndistributedIncomePYAmt |
| Qualifying Distributions | $1,922,870 | QualifyingDistributionsAmt |
| Applied To Year1 | $1,910,154 | AppliedToYear1Amt |
| Applied To Current Year | $12,716 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $0 | RemainingDistriFromCorpusAmt |
| Total Corpus | $0 | TotalCorpusAmt |
| Undistributed Income CY | $2,307,662 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $0 | ExcessDistriCyovToNextYrAmt |
| Excess From Current Year | $0 | ExcessFromCurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Foundations | PrivateOperatingFoundationsGrp |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | NONE | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (39 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| CALVARY CHURCH | |||||||
| 9S200 RTE 59 | NAPERVILLE | IL | 60564 | N/A | PC | General & Unrestricted | $5,000 |
| CENTER FOR CHILDREN AND FAMILIES INC | |||||||
| 210 S COCKREL AVE | NORMAN | OK | 73071 | N/A | PC | General & Unrestricted | $10,000 |
| CENTRAL OKLAHOMA AMERICAN INDIAN HEALTH COUNCIL IN | |||||||
| 4913 W RENO AVE | OKLAHOMA CITY | OK | 73127 | N/A | PC | General & Unrestricted | $5,000 |
| CHESS-IN-THE-SCHOOLS INC | |||||||
| 520 8TH AVENUE 22ND FLOOR | NEW YORK | NY | 10018 | N/A | PC | Expansion of CIS's Teacher Training Institute | $50,000 |
| COLORADO WOMENS EDUCATION FOUNDATION | |||||||
| PO BOX 1189 | BOULDER | CO | 80306 | N/A | PC | General & Unrestricted | $17,000 |
| CRAZY HORSE MEMORIAL FOUNDATION | |||||||
| 12151 AVE OF THE CHIEFS | CRAZY HORSE | SD | 57730 | N/A | PC | General & Unrestricted | $10,000 |
| DAVIDSON COLLEGE | |||||||
| BOX 5000 209 RIDGE RD | DAVIDSON | NC | 28036 | N/A | PC | General & Unrestricted | $5,000 |
| DONKA INCORPORATED | |||||||
| 400 N COUNTY FARM RD | WHEATON | IL | 60187 | N/A | PC | General & Unrestricted | $50,000 |
| DOROTHEA DIX PARK CONSERVANCY | |||||||
| PO BOX 28575 | RALEIGH | NC | 27611 | N/A | PC | General & Unrestricted | $2,500 |
| DUKE UNIVERSITY | |||||||
| PO BOX 90581 | DURHAM | NC | 27708 | N/A | PC | center for Truth, Reconciliation, and Racial Healing | $10,000 |
| DUKE UNIVERSITY | |||||||
| PO BOX 90581 | DURHAM | NC | 27708 | N/A | PC | Support of the Duke Libraries | $1,500 |
| ERIE FAMILY HEALTH CENTER INC | |||||||
| 1701 W SUPERIOR ST | CHICAGO | IL | 60622 | N/A | PC | General & Unrestricted | $10,000 |
| GADS HILL CENTER | |||||||
| 1919 W CULLERTON ST | CHICAGO | IL | 60608 | N/A | PC | General & Unrestricted | $5,000 |
| GROWING TOGETHER PRESCHOOL | |||||||
| 3301 BOULDER CT | RALEIGH | NC | 27607 | N/A | PC | General & Unrestricted | $5,000 |
| INTER-FAITH FOOD SHUTTLE | |||||||
| 1001 BLAIR DR | RALEIGH | NC | 27603 | N/A | PC | Back Pack Buddies program | $7,500 |
| IVY HAYWOOD EDUCATION INITIATIVE IHEI CORP | |||||||
| 2077 SE LENNARD RD APT 111 | PORT ST LUCIE | FL | 34952 | N/A | PC | General & Unrestricted | $5,000 |
| JUVENILE PROTECTIVE ASSOCIATION | |||||||
| 1707 N HALSTED ST | CHICAGO | IL | 60614 | N/A | PC | General & Unrestricted | $5,000 |
| KIPP OKC PUBLIC SCHOOLS | |||||||
| PO BOX 14128 | OKLAHOMA CITY | OK | 73113 | N/A | PC | General & Unrestricted | $10,000 |
| LATINO EDUCATIONAL ACHIEVEMENT PARTNERSHIP | |||||||
| 1737 HILLANDALE RD | DURHAM | NC | 27705 | N/A | PC | General & Unrestricted | $5,000 |
| LEELANAU CONSERVANCY | |||||||
| PO BOX 1007 | LELAND | MI | 49654 | N/A | PC | General & Unrestricted | $2,500 |
| MCFARLIN MEMORIAL UNITED METHODIST CHURCH | |||||||
| PO BOX 6390 | NORMAN | OK | 73070 | N/A | PC | General & Unrestricted | $5,000 |
| MINDS MATTER | |||||||
| PO BOX 16610 | DENVER | CO | 80216 | N/A | PC | General & Unrestricted | $1,000 |
| NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC | |||||||
| NCSU BOX 7207 | RALEIGH | NC | 27695 | N/A | PC | General & Unrestricted | $1,000 |
| OTHER SIDE ACADEMY | |||||||
| 661 E 100 S | SALT LAKE CTY | UT | 84102 | N/A | PC | General & Unrestricted | $1,000 |
| PARTNERSHIP WITH NATIVE AMERICANS | |||||||
| 16415 ADDISON RD STE 200 | ADDISON | TX | 75001 | N/A | PC | General & Unrestricted | $20,000 |
| PLM FAMILIES TOGETHER INC | |||||||
| 908 PLAINVIEW DR | RALEIGH | NC | 27610 | N/A | PC | General & Unrestricted | $5,000 |
| POSITIVE TOMORROWS INC | |||||||
| 901 N VILLA AVE | OKLAHOMA CITY | OK | 73107 | N/A | PC | General & Unrestricted | $15,000 |
| RALEIGH CHARTER HIGH SCHOOL | |||||||
| 1307 GLENWOOD AVE | RALEIGH | NC | 27605 | N/A | PC | General & Unrestricted | $1,000 |
| RISE SOUTHEAST RALEIGH CHARTER SCHOOL INC | |||||||
| 3420 IDLEWOOD VILLAGE DR | RALEIGH | NC | 27610 | N/A | PC | General & Unrestricted | $50,000 |
| ROOM TO READ | |||||||
| 465 CALIFORNIA ST STE 1000 | SAN FRANCISCO | CA | 94104 | N/A | PC | General & Unrestricted | $1,000 |
| SCISSORTAILS PRODUCTIONS INC | |||||||
| 410 MERKLE DR | NORMAN | OK | 73069 | N/A | PC | General & Unrestricted | $5,000 |
| SE RALEIGH PROMISE INC | |||||||
| 900 S WILMINGTON ST STE 105 | RALEIGH | NC | 27601 | N/A | PC | General & Unrestricted | $40,000 |
| SPORTSWOMEN OF COLORADO INC | |||||||
| PO BOX 261023 | LAKEWOOD | CO | 80226 | N/A | PC | General & Unrestricted | $1,000 |
| STUDENT U | |||||||
| 600 E UMSTEAD ST | DURHAM | NC | 27701 | N/A | PC | General & Unrestricted | $1,000 |
| THE COUNCIL OF URBAN PROFESSIONALS INSTITUTE | |||||||
| 55 EXCHANGE PL | NEW YORK | NY | 10005 | N/A | PC | General & Unrestricted | $12,500 |
| THE LOTUS CAMPAIGN INC | |||||||
| 200 S COLLEGE ST STE 200 | CHARLOTTE | NC | 28202 | N/A | PC | General & Unrestricted | $1,000 |
| THE YOUNG MENS CHRISTIAN ASSOCIATION OF THE TRIANG | |||||||
| 801 CORPORATE CENTER DR STE 200 | RALEIGH | NC | 27607 | N/A | PC | Southeast Raleigh YMCA Leadership Program | $33,500 |
| THRIVE SCHOLARS | |||||||
| 606 S OLIVE ST STE 2150 | LOS ANGELES | CA | 90014 | N/A | PC | To support a Thrive Scholars North Carolina Six Year Program Cohort | $75,000 |
| YOUNG MENS CHRISTIAN ASSOCIATION | |||||||
| 500 N BROADWAY AVE STE 500 | OKLAHOMA CITY | OK | 73102 | N/A | PC | YMCA Getting Ahead, a transformative 16-week program empowering families facing poverty | $50,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $540,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp |
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $16,801 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $646,767 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Income | OtherInvestmentIncomeGrp |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $8,755,902 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $9,419,470 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $9,419,470 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Audit Fees | CategoryTxt |
| Amt | $12,000 | Amt |
| Disbursements Charitable Prps | $12,000 | DisbursementsCharitablePrpsAmt |
All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch
All Other Program Related Invst AllOtherProgramRelatedInvstGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| CARING HOUSE, INC. - FUND CONSTRUCTION OF EXPANSION TO ALLOW CHARITY TO DOUBLE PATIENT CAPACITY | $250,000 |
| SE RALEIGH PROMISE, INC. - TO SUPPORT DEVELOPMENT OF AFFORDABLE HOUSING OPTIONS FOR LOW INCOME FAMILIES | $75,000 |
| PLM FAMILIES TOGETHER, INC. - TO FUND REPAIRS ON PROPERTIES USED TO SHELTER HOMELESS FAMILIES | $50,000 |
| SELF-HELP CREDIT UNION - TO PROVIDE HOME AND COMMERCIAL LOANS TO LOW-INCOME BORROWERS OF COLOR IN NORTH CAROLINA | $145,000 |
Depreciation Schedule DepreciationSchedule
Expenditure Responsibility Stmt ExpenditureResponsibilityStmt
Expenditure Responsibility ExpenditureResponsibilityGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | GrantGrantDt | GrantGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Any Diversion By GranteeAnyDiversionByGranteeTxt | Dates Of Reports By GranteeDatesOfReportsByGranteeTxt | Results Of VerificationResultsOfVerificationTxt |
|---|---|---|---|---|---|---|---|---|---|
| SELF HELP CREDIT UNION | |||||||||
| 301 W MAIN ST | DURHAM | NC | 27701 | 2022-08-23 | $356,000 | PRI LOAN-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION | NO | 3/31/2023, 2/23/2024 | THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WAS MADE. |
| SELF HELP FEDERAL CREDIT UNION | |||||||||
| 301 WEST MAIN STREET | DURHAM | NC | 27701 | 2022-08-23 | $300,000 | PRI LOAN-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION | NO | 3/31/2023, 2/23/2024 | THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WAS MADE. |
| SELF HELP FEDERAL CREDIT UNION | |||||||||
| 301 WEST MAIN STREET | DURHAM | NC | 27701 | 2023-08-18 | $311,000 | PRI LOAN-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION | NO | 4/9/2024 | THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WAS MADE. |
| SELF HELP CREDIT UNION | |||||||||
| 301 W MAIN ST | DURHAM | NC | 27701 | 2024-08-21 | $145,000 | PRI LOAN-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION | NO | EXPECTED IN 2025 | THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORTS FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORTS WAS MADE. |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp (4 entries)
| IdentifierIdentifierTxt | Form And Line ReferenceFormAndLineReferenceDesc | Medium ExplanationMediumExplanationTxt |
|---|---|---|
| FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | PRI RECIPIENT: SELF HELP CREDIT UNION DATE AND AMOUNT OF PRI: 08/23/2022 $356,000 PURPOSE OF PRI: TO PROVIDE HOME AND COMMERCIAL LOANS TO LOW-INCOME BORROWERS OF COLOR IN NORTH CAROLINA. REPORTS OF AMOUNTS EXPENDED: SELF HELP CREDIT UNION SUBMITTED A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT. THIS INVESTMENT WAS REMOVED FROM THE FOUNDATION'S BOOKS AS OF 9/15/2023, THE DATE SELF HELP CREDIT UNION PAID BACK THIS LOAN. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE. |
| FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | PRI RECIPIENT: SELF HELP FEDERAL CREDIT UNION DATE AND AMOUNT OF PRI: 08/23/2022 $300,000 PURPOSE OF PRI: TO PROVIDE HOME AND COMMERCIAL LOANS TO LOW-INCOME BORROWERS OF COLOR IN THE CHICAGO AREA. REPORTS OF AMOUNTS EXPENDED: SELF HELP FEDERAL CREDIT UNION SUBMITTED A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT. THIS INVESTMENT WAS REMOVED FROM THE FOUNDATION'S BOOKS AS OF 9/15/2023, THE DATE SELF HELP FEDERAL CREDIT UNION PAID BACK THIS LOAN. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE. |
| FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | PRI RECIPIENT: SELF HELP FEDERAL CREDIT UNION DATES AND AMOUNTS OF PRI: 8/18/2023 $311,000 PURPOSE OF PRI: TO PROVIDE HOME AND COMMERCIAL LOANS TO LOW INCOME BORROWERS OF COLOR, WOMEN, RURAL RESIDENTS AND LOW WEALTH FAMILIES IN THE CHICAGO AREA. REPORTS OF AMOUNTS EXPENDED: SELF HELP FEDERAL CREDIT UNION SUBMITTED A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT. THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 08/31/2024. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE. |
| FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY | PRI RECIPIENT: SELF HELP CREDIT UNION DATES AND AMOUNTS OF PRI: 8/21/2024 $145,000 PURPOSE OF PRI: TO PROVIDE HOME AND COMMERCIAL LOANS TO LOW-INCOME BORROWERS OF COLOR IN NORTH CAROLINA. REPORTS OF AMOUNTS EXPENDED: SELF HELP CREDIT UNION IS EXPECTED TO SUBMIT A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT. THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 08/31/2024. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE. |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (9 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| AMERICAN FUNDS EUROPACIFIC GRO | $2,143,520 | $2,397,555 |
| DRIEHAUS EMERGING MARKETS GROW | $1,105,976 | $1,277,539 |
| FIDELITY 500 INDEX FUND | $10,733,312 | $13,621,231 |
| FIDELITY INTERNATL INDEX INSTL | $3,436,207 | $3,995,177 |
| FIDELITY MID CAP INDEX FUND | $2,103,214 | $2,548,884 |
| MFS MID CAP GROWTH FUND CLASS | $895,708 | $1,087,683 |
| PRINCIPAL SMALLCAP VALUE FUND | $788,580 | $906,148 |
| T. ROWE QM U.S. SMALL-CAP GROW | $736,605 | $918,294 |
| VICTORY SYCAMORE ESTABLISHED V | $833,994 | $1,115,652 |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (2 entries)
| Category Or ItemCategoryOrItemTxt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| AMG PANTHEON FUND, LLC CLASS 3 | $1,454,967 | $1,553,533 |
| PARTNERS GROUP PRIVATE EQUITY | $1,450,000 | $1,479,649 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | General Consultations | CategoryTxt |
| Legal Fees | $6,000 | LegalFeesAmt |
| Disbursements Charitable Prps | $6,000 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp (11 entries)
| DescDesc | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| PRI - CARING HOUSE, INC. - 0% | $250,000 | $250,000 |
| PRI - CLEVELAND COUNTY FAMILY | $200,000 | $200,000 |
| PRI - PLM FAMILIES TOGETHER, I | $50,000 | $50,000 |
| PRI - RISE SE RALEIGH CHARTER | $325,000 | $325,000 |
| PRI - SE RALEIGH CHARTER FOUND | $300,000 | $300,000 |
| PRI - SE RALEIGH PROMISE, INC. | $50,000 | $50,000 |
| PRI - SE RALEIGH PROMISE, INC. | $75,000 | $75,000 |
| PRI - SELF-HELP CREDIT UNION ( | $145,000 | $145,000 |
| PRI - SELF-HELP FEDERAL CREDIT | $311,000 | $311,000 |
| PRI - THE RESURRECTION PROJECT | $325,000 | $325,000 |
| PRI - THE RESURRECTION PROJECT | $350,000 | $350,000 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (6 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|---|
| Administrative Fees | $66,236 | $66,236 | |
| Bank Charges | $46 | $46 | |
| Foundation Dues & Memberships | $1,930 | $1,930 | |
| Indemnification Insurance | $1,386 | $1,386 | |
| SHIPPING/DELIVERY SERVICES | $76 | $76 | |
| State or Local Filing Fees | $26 | $26 |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | RETURNED GRANT | Desc |
| Amt | $1,000 | Amt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| Investment Management Services | $58,740 | $58,740 | |
| TRANSCRIPTION SERVICES | $1,650 | $1,650 | |
| Philanthropic Consulting Srvcs | $5,625 | $5,625 |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | We respectfully request that the Foundation's quarterly estimated tax payments be treated as timely and request that no underpayment penalties be assessed because the payment delay was due to reasonable cause. Treasury Regulations SEC. 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 submit a payment in a timely fashion for Form 990-PF. Quarterly estimates for the taxable year ending August 31, 2024 990-PF were underpaid due to administrative error. During the taxable year the Foundation changed financial institutions and subsequently sold securities held. While the transfer of assets was correctly recorded, the cost basis of these assets was not. The Foundation's administrator relied upon these statements to calculate and determine required quarterly estimated tax payments. Consequently, this error caused capital gains to be underreported resulting in underpayments. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's actions were reasonable and in good faith. The underpayment of quarterly estimates was not in any way due to an intentional disregard of IRS rules, but rather a clerical error. We respectfully request that no penalties be assessed in connection with underpayment penalties for estimated taxes. | ExplanationTxt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| 990-PF Estimated Tax for 2024 | $22,600 | |
| Foreign Tax Paid | $106 | $106 |