2025-03-14T07:45:22-04:00 2024-08-31 Foundation Source 3333 New Hyde Park Rd Ste 406 New Hyde Park NY 11042 990PF 2023-09-01 366082517 Tom Russell Charitable Foundation Inc % Foundation Source TOMR 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 David Lindquest President 8008391754 2025-02-20 true true Jeffrey D Haskell P01345770 8008391754 2023 2025-03-06 01:10:19Z X 33505784 X 0 X 16801 16801 646767 646767 8755902 29130585 8755902 9419470 9419470 73125 73125 6000 0 0 6000 12000 0 0 12000 66015 58740 7275 22706 106 19816 19816 69700 46 69654 269362 58892 0 187870 540000 540000 809362 58892 0 727870 8610108 9360578 591347 223439 223439 16892067 22777116 27868163 2904967 3033182 2192000 2381000 2381000 19675414 28286522 33505784 0 0 X 19675414 28286522 19675414 28286522 19675414 28286522 19675414 8610108 1000 28286522 28286522 Publicly-traded Securities 29130585 20374683 8755902 8755902 8755902 130112 130112 130112 23233 0 115000 138233 X 0 8121 8121 false false false false true false false true true IL true false false false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false true false false false false false false false false false false false true false false true false false false false 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 20625 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 18750 0 0 Crawford Crenshaw Foundation Source 501 Silverside Rd Wilmington DE 198091377 Treas, Senior Dir 5.0 15000 0 0 David S Lindquist Foundation Source 501 Silverside Rd Wilmington DE 198091377 Sec, Senior Dir, Pres 5.0 18750 0 0 Miguel A Rivera Rodgriguez Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir 1.0 0 0 0 FOUNDATION SOURCE 55 WALLS DRIVE 3RD FL FAIRFIELD CT 06824 ADMINISTRATIVE 66236 CAP Financial Partners LLC 4208 Six Forks Road Suite 1700 RALEIGH NC 27609 INVESTMENT MGT 58740 THE RESURRECTION PROJECT - TO INCREASE ACCESS TO AFFORDABLE HOUSING TO LOW INCOME AND IMMIGRANT FAMILIES 350000 RISE SE RALEIGH CHARTER SCHOOL, INC. - TO GROW AND IMPROVE OPERATIONS AND EDUCATIONAL PROGRAMMING 325000 520000 1195000 27325525 471356 1512568 29309449 0 29309449 439642 28869807 1443490 1443490 130112 130112 1313378 1007000 2320378 2320378 727870 1195000 0 0 0 1922870 2320378 1910154 1922870 1910154 12716 0 0 2307662 0 0 NONE X CALVARY CHURCH 9S200 RTE 59 NAPERVILLE IL 60564 N/A PC General & Unrestricted 5000 CENTER FOR CHILDREN AND FAMILIES INC 210 S COCKREL AVE NORMAN OK 73071 N/A PC General & Unrestricted 10000 CENTRAL OKLAHOMA AMERICAN INDIAN HEALTH COUNCIL IN 4913 W RENO AVE OKLAHOMA CITY OK 73127 N/A PC General & Unrestricted 5000 CHESS-IN-THE-SCHOOLS INC 520 8TH AVENUE 22ND FLOOR NEW YORK NY 10018 N/A PC Expansion of CIS's Teacher Training Institute 50000 COLORADO WOMENS EDUCATION FOUNDATION PO BOX 1189 BOULDER CO 80306 N/A PC General & Unrestricted 17000 CRAZY HORSE MEMORIAL FOUNDATION 12151 AVE OF THE CHIEFS CRAZY HORSE SD 57730 N/A PC General & Unrestricted 10000 DAVIDSON COLLEGE BOX 5000 209 RIDGE RD DAVIDSON NC 28036 N/A PC General & Unrestricted 5000 DONKA INCORPORATED 400 N COUNTY FARM RD WHEATON IL 60187 N/A PC General & Unrestricted 50000 DOROTHEA DIX PARK CONSERVANCY PO BOX 28575 RALEIGH NC 27611 N/A PC General & Unrestricted 2500 DUKE UNIVERSITY PO BOX 90581 DURHAM NC 27708 N/A PC center for Truth, Reconciliation, and Racial Healing 10000 DUKE UNIVERSITY PO BOX 90581 DURHAM NC 27708 N/A PC Support of the Duke Libraries 1500 ERIE FAMILY HEALTH CENTER INC 1701 W SUPERIOR ST CHICAGO IL 60622 N/A PC General & Unrestricted 10000 GADS HILL CENTER 1919 W CULLERTON ST CHICAGO IL 60608 N/A PC General & Unrestricted 5000 GROWING TOGETHER PRESCHOOL 3301 BOULDER CT RALEIGH NC 27607 N/A PC General & Unrestricted 5000 INTER-FAITH FOOD SHUTTLE 1001 BLAIR DR RALEIGH NC 27603 N/A PC Back Pack Buddies program 7500 IVY HAYWOOD EDUCATION INITIATIVE IHEI CORP 2077 SE LENNARD RD APT 111 PORT ST LUCIE FL 34952 N/A PC General & Unrestricted 5000 JUVENILE PROTECTIVE ASSOCIATION 1707 N HALSTED ST CHICAGO IL 60614 N/A PC General & Unrestricted 5000 KIPP OKC PUBLIC SCHOOLS PO BOX 14128 OKLAHOMA CITY OK 73113 N/A PC General & Unrestricted 10000 LATINO EDUCATIONAL ACHIEVEMENT PARTNERSHIP 1737 HILLANDALE RD DURHAM NC 27705 N/A PC General & Unrestricted 5000 LEELANAU CONSERVANCY PO BOX 1007 LELAND MI 49654 N/A PC General & Unrestricted 2500 MCFARLIN MEMORIAL UNITED METHODIST CHURCH PO BOX 6390 NORMAN OK 73070 N/A PC General & Unrestricted 5000 MINDS MATTER PO BOX 16610 DENVER CO 80216 N/A PC General & Unrestricted 1000 NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 N/A PC General & Unrestricted 1000 OTHER SIDE ACADEMY 661 E 100 S SALT LAKE CTY UT 84102 N/A PC General & Unrestricted 1000 PARTNERSHIP WITH NATIVE AMERICANS 16415 ADDISON RD STE 200 ADDISON TX 75001 N/A PC General & Unrestricted 20000 PLM FAMILIES TOGETHER INC 908 PLAINVIEW DR RALEIGH NC 27610 N/A PC General & Unrestricted 5000 POSITIVE TOMORROWS INC 901 N VILLA AVE OKLAHOMA CITY OK 73107 N/A PC General & Unrestricted 15000 RALEIGH CHARTER HIGH SCHOOL 1307 GLENWOOD AVE RALEIGH NC 27605 N/A PC General & Unrestricted 1000 RISE SOUTHEAST RALEIGH CHARTER SCHOOL INC 3420 IDLEWOOD VILLAGE DR RALEIGH NC 27610 N/A PC General & Unrestricted 50000 ROOM TO READ 465 CALIFORNIA ST STE 1000 SAN FRANCISCO CA 94104 N/A PC General & Unrestricted 1000 SCISSORTAILS PRODUCTIONS INC 410 MERKLE DR NORMAN OK 73069 N/A PC General & Unrestricted 5000 SE RALEIGH PROMISE INC 900 S WILMINGTON ST STE 105 RALEIGH NC 27601 N/A PC General & Unrestricted 40000 SPORTSWOMEN OF COLORADO INC PO BOX 261023 LAKEWOOD CO 80226 N/A PC General & Unrestricted 1000 STUDENT U 600 E UMSTEAD ST DURHAM NC 27701 N/A PC General & Unrestricted 1000 THE COUNCIL OF URBAN PROFESSIONALS INSTITUTE 55 EXCHANGE PL NEW YORK NY 10005 N/A PC General & Unrestricted 12500 THE LOTUS CAMPAIGN INC 200 S COLLEGE ST STE 200 CHARLOTTE NC 28202 N/A PC General & Unrestricted 1000 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 33500 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 75000 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 50000 540000 14 16801 14 646767 18 8755902 9419470 9419470 false false false false false false false false false false Audit Fees 12000 12000 CARING HOUSE, INC. - FUND CONSTRUCTION OF EXPANSION TO ALLOW CHARITY TO DOUBLE PATIENT CAPACITY 250000 SE RALEIGH PROMISE, INC. - TO SUPPORT DEVELOPMENT OF AFFORDABLE HOUSING OPTIONS FOR LOW INCOME FAMILIES 75000 PLM FAMILIES TOGETHER, INC. - TO FUND REPAIRS ON PROPERTIES USED TO SHELTER HOMELESS FAMILIES 50000 SELF-HELP CREDIT UNION - TO PROVIDE HOME AND COMMERCIAL LOANS TO LOW-INCOME BORROWERS OF COLOR IN NORTH CAROLINA 145000 SELF HELP CREDIT UNION 301 W MAIN ST DURHAM NC 27701 2022-08-23 356000 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 300000 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 311000 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 145000 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. 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. AMERICAN FUNDS EUROPACIFIC GRO 2143520 2397555 DRIEHAUS EMERGING MARKETS GROW 1105976 1277539 FIDELITY 500 INDEX FUND 10733312 13621231 FIDELITY INTERNATL INDEX INSTL 3436207 3995177 FIDELITY MID CAP INDEX FUND 2103214 2548884 MFS MID CAP GROWTH FUND CLASS 895708 1087683 PRINCIPAL SMALLCAP VALUE FUND 788580 906148 T. ROWE QM U.S. SMALL-CAP GROW 736605 918294 VICTORY SYCAMORE ESTABLISHED V 833994 1115652 AMG PANTHEON FUND, LLC CLASS 3 1454967 1553533 PARTNERS GROUP PRIVATE EQUITY 1450000 1479649 General Consultations 6000 6000 PRI - CARING HOUSE, INC. - 0% 250000 250000 PRI - CLEVELAND COUNTY FAMILY 200000 200000 PRI - PLM FAMILIES TOGETHER, I 50000 50000 PRI - RISE SE RALEIGH CHARTER 325000 325000 PRI - SE RALEIGH CHARTER FOUND 300000 300000 PRI - SE RALEIGH PROMISE, INC. 50000 50000 PRI - SE RALEIGH PROMISE, INC. 75000 75000 PRI - SELF-HELP CREDIT UNION ( 145000 145000 PRI - SELF-HELP FEDERAL CREDIT 311000 311000 PRI - THE RESURRECTION PROJECT 325000 325000 PRI - THE RESURRECTION PROJECT 350000 350000 Administrative Fees 66236 66236 Bank Charges 46 46 Foundation Dues & Memberships 1930 1930 Indemnification Insurance 1386 1386 SHIPPING/DELIVERY SERVICES 76 76 State or Local Filing Fees 26 26 RETURNED GRANT 1000 Investment Management Services 58740 58740 TRANSCRIPTION SERVICES 1650 1650 Philanthropic Consulting Srvcs 5625 5625 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. 990-PF Estimated Tax for 2024 22600 Foreign Tax Paid 106 106