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REESE FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
REESE FAMILY FOUNDATION (EIN 82-2860503)
Tax period
2024-02-01 to 2025-01-31
Filed
2025-08-11
IRS object ID
202542239349101209
Schema version
2024v5.2
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

FieldValueIRS element (for citing)
Return2025-08-11T16:06:45-07:00ReturnTs
Tax Period End2025-01-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN461726088PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1SMALL BUSINESS ACCOUNTING AND TAXBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11819 E MORTEN AVE SUITE 210AddressLine1Txt
CityPHOENIXCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85020ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-02-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN822860503EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Reese Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlREESBusinessNameControlTxt
Phone2195107257PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14114 Cactus Blossom RoadAddressLine1Txt
CityWickenburgCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85390ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJay Rodney ReesePersonNm
Person TitlePresidentPersonTitleTxt
Signature2025-08-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJared CrystalPreparerPersonNm
PTINP00224230PTIN
Phone6023683588PhoneNum
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$0FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$204,000ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$18,832DividendsRevAndExpnssAmt
Dividends Net Invst Incm$18,832DividendsNetInvstIncmAmt
Dividends Adj Net Incm$18,832DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$207,056NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,387,729GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$207,056CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$69,629NetSTCapitalGainAdjNetIncmAmt
Other Income Rev And Expnss$365OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$430,253TotalRevAndExpnssAmt
Total Net Invst Incm$225,888TotalNetInvstIncmAmt
Total Adj Net Incm$88,461TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$17,016LegalFeesRevAndExpnssAmt
Taxes Rev And Expnss$643TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$11,031OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$28,690TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$80,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$80,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$108,690TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$80,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$321,563ExcessRevenueOverExpensesAmt
Net Investment Income$225,888NetInvestmentIncomeAmt
Adjusted Net Income$88,461AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY$118,592CashEOYAmt
Corporate Stock BOY$910,733CorporateStockBOYAmt
Corporate Stock EOY$1,174,210CorporateStockEOYAmt
Total Assets BOY$910,733TotalAssetsBOYAmt
Total Assets EOY$1,292,802TotalAssetsEOYAmt
Total Assets EOYFMV$0TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$910,733NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$1,292,802NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$910,733TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,292,802TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$910,733TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,292,802TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$910,733TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$321,563ExcessRevenueOverExpensesAmt
Other Increases$150,325OtherIncreasesAmt
Subtotal$1,382,621SubtotalAmt
Other Decreases$89,819OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$1,292,802TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
Merrill Lynch ST coveredP2024-07-102024-10-04$745,455$675,826$69,629$69,629
Merrill Lynch LT coveredP2023-07-072024-10-04$642,274$504,847$137,427$137,427
FieldValueIRS element (for citing)
Capital Gain Net Income$207,056CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$69,629NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3,140InvestmentIncomeExciseTaxAmt
Subtotal$3,140SubtotalAmt
Tax Based On Investment Income$3,140TaxBasedOnInvestmentIncomeAmt
Tax Due$3,140TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateAZOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Jay Rodney ReeseBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2195107257PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14114 Cactus Blossom RoadAddressLine1Txt
CityWickenburgCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85390ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonJay Rodney ReesePersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line14114 Cactus Blossom RoadAddressLine1Txt
CityWickenburgCityNm
State AbbreviationAZStateAbbreviationCd
ZIP85390ZIPCd
FieldValueIRS element (for citing)
TitlePresidentTitleTxt
Average Hrs Per Wk Devoted To Pos0.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Tax Based On Investment Income$3,140TaxBasedOnInvestmentIncomeAmt
Total Tax$3,140TotalTaxAmt
Distributable Before Adj$3,140DistributableBeforeAdjAmt
Distributable Before Ded$3,140DistributableBeforeDedAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$80,000ExpensesAndContributionsAmt
Qualifying Distributions$80,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$31,000ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr3$44,500ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$47,000ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$290,000ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$412,500TotalExcessDistributionCyovAmt
Qualifying Distributions$80,000QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$80,000RemainingDistriFromCorpusAmt
Total Corpus$492,500TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$31,000ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$461,500ExcessDistriCyovToNextYrAmt
Excess From Year3$44,500ExcessFromYear3Amt
Excess From Year2$47,000ExcessFromYear2Amt
Excess From Year1$290,000ExcessFromYear1Amt
Excess From Current Year$80,000ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJay Rodney ReeseContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Portage Township Education Fund
6240 US Highway 6PortageIN46368PFDonation$5,000
West-MEC
5487 N 99th AveGlendaleAZ85305PFDonation$30,000
Gracious Grounds
PO Box 393Spring LakeMI49456PFDonation$5,000
Brent's Place
11980 E 16th AveAuroraCO80010PFDonation$5,000
Ladder Homes
729 Lincoln AveHollandMI49423PFDonation$20,000
PAN Foundation
PO Box 411439BostonMA02241PFDonation$5,000
T2T Tunnels to Towers
2361 Hylan BoulevardStaten IslandNY10306PFDonation$10,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$80,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$18,832RelatedOrExemptFunctionIncmAmt

Other Investment Income OtherInvestmentIncomeGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$365RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$207,056RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$226,253RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$226,253TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryFees paidCategoryTxt
Legal Fees$17,016LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
Advisory fees$11,003
Investment fees$28

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescOther Investment IncomeDesc
Revenue And Expenses Per Books$365RevenueAndExpensesPerBooksAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail (2 entries)

DescDescAmtAmt
Reconciliation$325
Return of funds from 2023 grant given$150,000

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Categorytax paid per 1099CategoryTxt
Amt$643Amt

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