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Nonprofiteer
← RACQUET UP DETROIT FOUNDATION

Form 990 for tax year 2023

Filed by RACQUET UP DETROIT FOUNDATION.

Totals

Total revenue
$1,173,766
Total expenses
$35,720
Contributions and grants received
$1,108,060
Grants paid
$21,200
Program service revenue
$0
Investment income
$65,706
Other revenue
$0
Total assets, end of year
$5,059,968
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$5,059,968
Program services expenses (Part IX)
$21,200
Management and general expenses
$14,520
Fundraising expenses
$0
Program service expenses (Part III)
$21,200

Program services were 59.4% 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.

  • 1f · All other contributions, gifts and grants

    $1,108,060

  • 3 · Investment income

    total $65,706 · excluded $65,706

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $21,200 · program services $21,200

  • 11b · Fees: legal

    total $5,620 · management and general $5,620

  • 11c · Fees: accounting

    total $8,900 · management and general $8,900

Balance sheet

Part X, book values.

  • 3 · Pledges and grants receivable

    beginning of year $1,355,653 · end of year $1,518,352

  • 11 · Investments: publicly traded securities

    beginning of year $2,271,596 · end of year $3,541,616

  • 27 · Net assets without donor restrictions

    beginning of year $1,583,633 · end of year $4,554,063

  • 28 · Net assets with donor restrictions

    beginning of year $2,043,616 · end of year $505,905

Mission and programs · 2023

Mission

TO MANAGE FUNDS EXCLUSIVELY FOR RACQUET UP DETROIT IN SUPPORT OF ITS MISSION TO SUPPORT AND EMPOWER DETROIT YOUTH TO ACHIEVE THEIR FULL POTENTIAL THROUGH A DEMANDING AND INSPIRING LONG-TERM EXTRACURRICULAR MENTORING PROGRAM OF SQUASH, ACADEMICS, AND COMMUNITY SERVICE

  • THE RACQUET UP DETROIT FOUNDATION WAS ESTABLISHED FOR THE SOLE PURPOSE OF PROVIDING SUPPORT TO RACQUET UP DETROIT. IN ADDITION, THE FOUNDATION'S BOARD OF DIRECTORS IS RESPONSIBLE FOR THE MANAGEMENT OF THE FOUNDATION'S INVESTMENTS.

    Expenses $21,200 · Grants $21,200

As filed on the 2023 return.

Listed in Part VII

  • DEREK AGUIRRE

    DIRECTOR

    Total calculated
    $249,894
    From this org
    $0
    From related orgs
    $179,385
    Other
    $70,509
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,385 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $50,000 related
    Nontaxable benefits
    $0 + $20,509 related
    Filer's total
    $0 + $249,894 related

  • JOSEPH O'CONNOR

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JON UFFELMAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • J THOMAS MACFARLANE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • GEORGE A HAGGARTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 15 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

No itemized grants to organizations 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
2023
Filed
22 January 2025
IRS schema version
2023v6.0
Source object
202500229349300235

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