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← JAMES RUSHTON I FOUNDATION

Form 990 for tax year 2022

Filed by JAMES RUSHTON I FOUNDATION.

Totals

Total revenue
$2,954,448
Total expenses
$2,559,612
Contributions and grants received
$1,165,069
Grants paid
$27,500
Program service revenue
$518,131
Investment income
$1,255,342
Other revenue
$15,906
Total assets, end of year
$31,351,856
Total liabilities, end of year
$9,826
Net assets or fund balances, end of year
$31,342,030
Program services expenses (Part IX)
$2,248,097
Management and general expenses
$311,515
Fundraising expenses
$0
Program service expenses (Part III)
$2,248,097

Program services were 87.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $810,986

  • 1f · All other contributions, gifts and grants

    $354,083

  • 1g · Noncash contributions included above

    $10,108

  • 2a · Program service revenue: Parent tuition

    total $218,100 · related or exempt $218,100

  • 2b · Program service revenue: Tuition subsidy AL Dept of Human

    total $217,071 · related or exempt $217,071

  • 2c · Program service revenue: USDA reimb. income

    total $82,960 · related or exempt $82,960

  • 3 · Investment income

    total $592,737 · related or exempt $592,737

  • 7a · Gross sales of assets other than inventory

    securities $3,615,199

  • 7b · Less cost or other basis and sales expenses

    securities $2,952,594

  • 7c · Gain or loss

    securities $662,605

  • 7d · Net gain or loss

    total $662,605 · related or exempt $662,605

  • 11a · Other revenue: Commonfund Capital VII

    total $16,560 · related or exempt $16,560

  • 11b · Other revenue: Miscellaneous

    total $1,521 · related or exempt $1,521

  • 11c · Other revenue: Commonfund Capital VIII

    total -$2,175 · related or exempt -$2,175

  • 11e · Other revenue, total

    $15,906

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $27,500 · program services $27,500

  • 5 · Compensation of officers, directors and key employees

    total $95,000 · program services $23,750 · management and general $71,250

  • 7 · Other salaries and wages

    total $1,381,743 · program services $1,338,778 · management and general $42,965

  • 9 · Other employee benefits

    total $158,781 · program services $127,481 · management and general $31,300

  • 10 · Payroll taxes

    total $112,654 · program services $102,587 · management and general $10,067

  • 11b · Fees: legal

    total $10,025 · management and general $10,025

  • 11c · Fees: accounting

    total $12,800 · management and general $12,800

  • 11f · Fees: investment management

    total $99,299 · management and general $99,299

  • 12 · Advertising and promotion

    total $267 · program services $267

  • 13 · Office expenses

    total $6,987 · program services $5,206 · management and general $1,781

  • 16 · Occupancy

    total $68,882 · program services $55,230 · management and general $13,652

  • 17 · Travel

    total $5,517 · program services $5,517

  • 22 · Depreciation, depletion and amortization

    total $26,619 · program services $26,619

  • 23 · Insurance

    total $52,930 · program services $52,930

  • 24a · Other expenses: Food

    total $108,372 · program services $108,372

  • 24b · Other expenses: Childcare expenses

    total $52,801 · program services $52,801

  • 24c · Other expenses: Partner program - Park

    total $50,417 · program services $50,417

  • 24d · Other expenses: Utilities

    total $45,420 · program services $45,420

  • 24e · All other expenses

    total $243,598 · program services $225,222 · management and general $18,376

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $750,484 · end of year $1,039,621

  • 2 · Savings and temporary cash investments

    beginning of year $135,483 · end of year $72,342

  • 10a · Land, buildings and equipment: cost or other basis

    $222,628

  • 10b · Land, buildings and equipment: accumulated depreciation

    $189,523

  • 10c · Land, buildings and equipment, net

    beginning of year $36,794 · end of year $33,105

  • 11 · Investments: publicly traded securities

    beginning of year $30,048,571 · end of year $30,205,182

  • 12 · Investments: other securities

    beginning of year $23 · end of year $1,606

  • 25 · Other liabilities

    beginning of year $20,214 · end of year $9,826

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $30,951,141 · end of year $31,342,030

Mission and programs · 2022

Mission

To provide high quality early childhood education programs and services to children between zero and three years of age.

Activities or mission (Part I)

To provide high quality early childhood education programs and services to children between six weeks and three years of age.

  • Operation of a child development center for ages 6 weeks to 3 years old to provide affordable day care to low income parents to facilitate their ability to be in the work force rather than on government subsidies. Tuition is based on the parents income.

    Expenses $2,197,680 · Grants $27,500 · Revenue $1,789,379

  • Cooperative work toward establishment of a mutual support community; includes activities to bolster community pride and involvement for the Metropolitan Garden residents and former residents who are included in the Ambit of the Hope VI project.

    Expenses $50,417

As filed on the 2022 return.

Listed in Part VII

  • Deakins Ford Rushton

    President

    Total calculated
    $95,000
    From this org
    $95,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Gail B Rushton

    Director

    Total calculated
    $0
    Hours/week
    0.8

  • James Rushton

    Director

    Total calculated
    $0
    Hours/week
    0.8

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
12 September 2023
IRS schema version
2022v5.0
Source object
202322719349301757

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