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Nonprofiteer
← MATTHEW AND KAREN CULLEN FAMILY FOUNDATION

Form 990 for tax year 2022

Filed by MATTHEW AND KAREN CULLEN FAMILY FOUNDATION.

Totals

Total revenue
$533,913
Total expenses
$157,588
Contributions and grants received
$0
Grants paid
$122,660
Program service revenue
$0
Investment income
$533,913
Other revenue
$0
Total assets, end of year
$6,414,655
Total liabilities, end of year
$147,660
Net assets or fund balances, end of year
$6,266,995
Program services expenses (Part IX)
$122,660
Management and general expenses
$34,928
Fundraising expenses
$0
Program service expenses (Part III)
$122,660

Program services were 77.8% 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.

  • 3 · Investment income

    total $92,726 · excluded $92,726

  • 7a · Gross sales of assets other than inventory

    other assets $2,606,832

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

    other assets $2,165,645

  • 7c · Gain or loss

    other assets $441,187

  • 7d · Net gain or loss

    total $441,187 · excluded $441,187

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $122,660 · program services $122,660

  • 11f · Fees: investment management

    total $34,928 · management and general $34,928

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $100 · end of year $78

  • 11 · Investments: publicly traded securities

    beginning of year $1,188,884 · end of year $1,930,791

  • 12 · Investments: other securities

    beginning of year $6,062,349 · end of year $4,371,928

  • 15 · Other assets

    beginning of year $111,858 · end of year $111,858

  • 18 · Grants payable

    beginning of year $160,086 · end of year $147,660

  • 27 · Net assets without donor restrictions

    beginning of year $7,203,105 · end of year $6,266,995

Mission and programs · 2022

Mission

THE MATTHEW AND KAREN CULLEN FAMILY FOUNDATION SUPPORTS THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN BY SUPPORTING CHARITABLE ORGANIZATIONS WHOSE WORK IMPROVES THE QUALITY OF LIFE OF THE RESIDENTS OF SOUTHEAST MICHIGAN AND BEYOND.

Activities or mission (Part I)

THE ORGANIZATION WAS ESTABLISHED IN 2017 AS A SUPPORTING ORGANIZATION OF THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN. IT WAS FUNDED IN 2018, AND RENAMED AS THE MATTHEW AND KAREN CULLEN FAMILY FOUNDATION.

  • TWO GRANTS WERE MADE TO TAX-EXEMPT CHARITABLE ORGANIZATIONS TO SUPPORT CHARITABLE ACTIVITIES PRIMARILY IN SOUTHEAST MICHIGAN.

    Expenses $122,660 · Grants $122,660

As filed on the 2022 return.

Listed in Part VII

  • Richard L Devore Start 4122

    DIRECTOR, PRESIDENT AND SECRETARY

    Total calculated
    $471,095
    From this org
    $0
    From related orgs
    $454,601
    Other
    $16,494
    Hours/week
    0.5 + 48.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $451,670 related
    Bonus
    $0
    Other
    $0 + $2,931 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $16,494 related
    Filer's total
    $0 + $471,095 related

  • Mariam C Noland End 33122

    DIRECTOR, PRESIDENT AND SECRETARY

    Total calculated
    $315,993
    From this org
    $0
    From related orgs
    $278,522
    Other
    $37,471
    Hours/week
    0.5 + 48.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $276,145 related
    Bonus
    $0
    Other
    $0 + $2,377 related
    Deferred
    $0 + $30,511 related
    Nontaxable benefits
    $0 + $6,960 related
    Filer's total
    $0 + $315,993 related

  • Eric B Larson

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Karen A Cullen

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew P Cullen

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Reginald M Turner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jenilyn Norman

    VP, FINANCE AND ADMINISTRATION

    Total calculated
    $259,613
    From this org
    $0
    From related orgs
    $222,415
    Other
    $37,198
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $222,115 related
    Bonus
    $0
    Other
    $0 + $300 related
    Deferred
    $0 + $22,817 related
    Nontaxable benefits
    $0 + $14,381 related
    Filer's total
    $0 + $259,613 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313199349327876

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