REESE FAMILY FOUNDATION: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- REESE FAMILY FOUNDATION (EIN 82-2860503)
- Tax period
- 2023-02-01 to 2024-01-31
- Filed
- 2024-09-06
- IRS object ID
- 202422509349100217
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-09-06T10:52:36-07:00 | ReturnTs |
| Tax Period End | 2024-01-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 461726088 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SMALL BUSINESS ACCOUNTING AND TAX | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1819 E MORTEN AVE SUITE 210 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85020 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-02-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 822860503 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Reese Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | REES | BusinessNameControlTxt |
| Phone | 2195107257 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3648 W 162nd Ave | AddressLine1Txt |
| City | Goodyear | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85395 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jay Rodney Reese | PersonNm |
| Person Title | President | PersonTitleTxt |
| Signature | 2024-09-06 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jared Crystal | PreparerPersonNm |
| PTIN | P00224230 | PTIN |
| Phone | 6023683588 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $0 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $16,759 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $16,759 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $16,759 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $34,665 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $878,794 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $38,477 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $338,469 | OtherIncomeRevAndExpnssAmt |
| Total Rev And Expnss | $389,893 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $55,236 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $16,759 | TotalAdjNetIncmAmt |
| Accounting Fees Rev And Expnss | $3,000 | AccountingFeesRevAndExpnssAmt |
| Taxes Rev And Expnss | $163 | TaxesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $3,163 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $294,986 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $290,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $298,149 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $290,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $91,744 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $55,236 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $16,759 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $139,833 | SavAndTempCashInvstBOYAmt |
| Corporate Stock BOY | $617,325 | CorporateStockBOYAmt |
| Corporate Stock EOY | $910,733 | CorporateStockEOYAmt |
| Other Assets BOY | $1 | OtherAssetsBOYAmt |
| Total Assets BOY | $757,159 | TotalAssetsBOYAmt |
| Total Assets EOY | $910,733 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $0 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $757,159 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $910,733 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $757,159 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $910,733 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $757,159 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $910,733 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $757,159 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $91,744 | ExcessRevenueOverExpensesAmt |
| Other Increases | $61,830 | OtherIncreasesAmt |
| Subtotal | $910,733 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $910,733 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt |
|---|---|---|---|---|---|---|---|
| Merrill Lynch ST covered | P | 2023-01-13 | 2023-10-03 | $618,466 | $622,278 | -$3,812 | -$3,812 |
| Merrill Lynch LT covered | P | 2020-08-25 | 2023-12-27 | $260,328 | $221,851 | $38,477 | $38,477 |
| Wash Sale | $3,812 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $38,477 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $768 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $768 | SubtotalAmt |
| Tax Based On Investment Income | $768 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $768 | TaxDueAmt |
| Applied To ES Tax | $0 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | false | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | AZ | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jay Rodney Reese | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2195107257 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3648 W 162nd Ave | AddressLine1Txt |
| City | Goodyear | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85395 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jay Rodney Reese | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3648 N 162nd Ave | AddressLine1Txt |
| City | Goodyear | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85395 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | President | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 0.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $0 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $0 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $0 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $0 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $0 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $0 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Based On Investment Income | $768 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $768 | TotalTaxAmt |
| Distributable Before Adj | $768 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $768 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $290,000 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $290,000 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr5 | $20,250 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $31,000 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr2 | $44,500 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $47,000 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $142,750 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $290,000 | QualifyingDistributionsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Remaining Distri From Corpus | $290,000 | RemainingDistriFromCorpusAmt |
| Total Corpus | $432,750 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $20,250 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $412,500 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $31,000 | ExcessFromYear4Amt |
| Excess From Year2 | $44,500 | ExcessFromYear2Amt |
| Excess From Year1 | $47,000 | ExcessFromYear1Amt |
| Excess From Current Year | $290,000 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Jay Rodney Reese | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| Beechwood Church | ||||||
| 895 Ottawa Beach Rd | Holland | MI | 49424 | PF | Donation | $230,000 |
| Portage Township Education Fund | ||||||
| 6240 US Highway 6 | Portage | IN | 46368 | PF | Donation | $5,000 |
| West-MEC | ||||||
| 5487 N 99th Ave | Glendale | AZ | 85305 | PF | Donation | $25,000 |
| Gracious Grounds | ||||||
| PO Box 393 | Spring Lake | MI | 49456 | PF | Donation | $5,000 |
| Brent's Place | ||||||
| 11980 E 16th Ave | Aurora | CO | 80010 | PF | Donation | $5,000 |
| Ladder Homes | ||||||
| 729 Lincoln Ave | Holland | MI | 49423 | PF | Donation | $15,000 |
| PAN Foundation | ||||||
| PO Box 411439 | Boston | MA | 02241 | PF | Donation | $5,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $290,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $16,759 | RelatedOrExemptFunctionIncmAmt |
Other Investment Income OtherInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $338,469 | RelatedOrExemptFunctionIncmAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $34,665 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $389,893 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $389,893 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail (4 entries)
| AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt | CategoryCategoryTxt |
|---|---|---|---|---|
| $750 | $0 | $0 | $0 | |
| $750 | $0 | $0 | $0 | |
| $750 | $0 | $0 | $0 | |
| $750 | $0 | $0 | $0 | Wire transfer out |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Other Investment Income | Desc |
| Revenue And Expenses Per Books | $338,469 | RevenueAndExpensesPerBooksAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | tax paid per 1099 | CategoryTxt |
| Amt | $163 | Amt |
Comments