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← RUSSELL FAMILY FOUNDATION

Form 990 for tax year 2023

Filed by RUSSELL FAMILY FOUNDATION.

Totals

Total revenue
$327,909
Total expenses
$311,127
Contributions and grants received
$16
Grants paid
$283,334
Program service revenue
$0
Investment income
$327,893
Other revenue
$0
Total assets, end of year
$5,960,629
Total liabilities, end of year
$283,334
Net assets or fund balances, end of year
$5,677,295
Program services expenses (Part IX)
$283,334
Management and general expenses
$27,793
Fundraising expenses
$0
Program service expenses (Part III)
$283,334

Program services were 91.1% 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

    $16

  • 3 · Investment income

    total $194,261 · excluded $194,261

  • 7a · Gross sales of assets other than inventory

    securities $3,473,357

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

    securities $3,339,725

  • 7c · Gain or loss

    securities $133,632

  • 7d · Net gain or loss

    total $133,632 · excluded $133,632

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $283,334 · program services $283,334

  • 11f · Fees: investment management

    total $27,793 · management and general $27,793

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,730 · end of year $459

  • 11 · Investments: publicly traded securities

    beginning of year $5,266,913 · end of year $5,960,170

  • 18 · Grants payable

    beginning of year $53,264 · end of year $283,334

  • 27 · Net assets without donor restrictions

    beginning of year $5,242,379 · end of year $5,677,295

Mission and programs · 2023

Mission

THE RUSSELL FAMILY FOUNDATION SUPPORTS THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN (CFSEM) BY SUPPORTING ORGANIZATIONS WHOSE WORK FURTHERS CFSEM'S MISSION. THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN'S MISSION IS TO BUILD THE RESOURCES, RELATIONSHIPS AND EXPERTISE REQUIRED TO EXPAND EQUITABLE ACCESS TO OPPORTUNITIES ACROSS SOUTHEAST MICHIGAN TO MAKE IT A DESIRABLE PLACE TO LIVE, WORK AND PLAY FOR ALL RESIDENTS, TODAY AND TOMORROW.

Activities or mission (Part I)

SUPPORTED CHARITABLE ORGANIZATIONS AND ACTIVITIES THROUGH THE AWARDING OF 8 GRANTS TO 8 DIFFERENT ORGANIZATIONS TOTALING $283,334, IMPACTING THE LOCAL COMMUNITY.

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

    Expenses $283,334 · Grants $283,334

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard L Devore

    PRESIDENT AND SECRETARY

    Total calculated
    $690,131
    From this org
    $0
    From related orgs
    $638,226
    Other
    $51,905
    Hours/week
    0.5 + 48.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $625,916 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $9,810 related
    Deferred
    $0 + $31,619 related
    Nontaxable benefits
    $0 + $20,286 related
    Filer's total
    $0 + $690,131 related

  • John G Russell

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Kenneth Whipple

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Margaret A Russell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • David B Korte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark P Russell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Paul C Hillegonds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Jenilyn Norman

    VP, FINANCE AND ADMINISTRATION

    Total calculated
    $279,354
    From this org
    $0
    From related orgs
    $244,708
    Other
    $34,646
    Hours/week
    0.5 + 50.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,258 related
    Bonus
    $0
    Other
    $0 + $450 related
    Deferred
    $0 + $25,032 related
    Nontaxable benefits
    $0 + $9,614 related
    Filer's total
    $0 + $279,354 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
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202433139349300408

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