WILLETT FAMILY FOUNDATION INC
https://N/A(3 yrs)
About
STATEMENT REGARDING SUBSTANTIAL CONTRACTION (FORM 990-PF, PART VI-A, LINE 5) ON APRIL 22, 2024, WILLETT FAMILY FOUNDATION INC. TRANSFERRED APPROXIMATELY TWO-THIRDS OF ITS TOTAL ASSETS (BASED ON FAIR MARKET VALUE) TO TWO NEWLY ESTABLISHED PRIVATE NON-OPERATING FOUNDATIONS: JENNIFER ALAINE WILLETT CHARITABLE FOUNDATION INC., EIN: 99-1566849, LOCATED AT 205 TOUSSAINT LANDING DR., DARDENNE PRAIRIE, MO 63368 THE WILLETT LEGACY FOUNDATION INC., EIN: 99-0407315, LOCATED AT 11443 VALMONT LANE, ALPHARETTA, GA 30004 THESE TRANSFERS WERE MADE PURSUANT TO A MUTUAL AGREEMENT AMONG THE THREE DIRECTORS TO DIVIDE THE FOUNDATION'S ASSETS AND ALLOW EACH DIRECTOR TO PURSUE PHILANTHROPIC GOALS INDEPENDENTLY. WILLETT FAMILY FOUNDATION INC RETAINED APPROXIMATELY ONE-THIRD OF ITS ASSETS AND CONTINUES TO FUNCTION AS A PRIVATE NON-OPERATING FOUNDATION. THIS TRANSFER CONSTITUTES A SUBSTANTIAL CONTRACTION AS DEFINED BY IRS GUIDELINES, AND IS DISCLOSED ACCORDINGLY IN PART VI-A, LINE 5 OF FORM 990-PF. THE FOUNDATION IS NOT UNDERGOING LIQUIDATION, TERMINATION, OR DISSOLUTION. THE TRANSFERRED ASSETS ARE NOT BEING TREATED AS QUALIFYING DISTRIBUTIONS UNDER IRC SECTION 4942(G)(3), AND THE RECIPIENT FOUNDATIONS ARE NOT OBLIGATED TO MAKE QUALIFYING DISTRIBUTIONS OF THE TRANSFERRED FUNDS WITHIN THE FOLLOWING TAX YEAR. THE ORIGINAL FOUNDATION WILL SATISFY ITS MINIMUM DISTRIBUTION REQUIREMENT FOR THE CURRENT TAX YEAR THROUGH SEPARATE QUALIFYING DISTRIBUTIONS TO PUBLIC CHARITIES AND OTHER ELIGIBLE RECIPIENTS. AT THE TIME OF THE TRANSFERS, THE BOARD OF WILLETT FAMILY FOUNDATION INC CONSISTED OF THREE DIRECTORS. TWO OF THOSE DIRECTORS WHO SUBSEQUENTLY ASSUMED GOVERNANCE ROLES IN THE RECIPIENT FOUNDATIONS REMAINED ON THE BOARD THROUGH THE COMPLETION OF THE ASSET TRANSFERS TO ENSURE PROPER OVERSIGHT AND DOCUMENTATION. IMMEDIATELY FOLLOWING THE TRANSFERS, BOTH DIRECTORS RESIGNED FROM THE BOARD OF WILLETT FAMILY FOUNDATION INC. TO ENSURE CONTINUED INDEPENDENCE AND SOUND GOVERNANCE, THE FOUNDATION PROMPTLY APPOINTED TWO NEW DIRECTORS, NEITHER OF WHOM HAVE ANY FINANCIAL INTEREST IN OR GOVERNANCE ROLE WITH THE RECIPIENT FOUNDATIONS. AFTER THE TRANSFER OF ASSETS WAS COMPLETED, THE BOARD OF WILLETT FAMILY FOUNDATION INC IS COMPOSED ENTIRELY OF INDIVIDUALS WHO ARE INDEPENDENT OF THE RECIPIENT FOUNDATIONS AND ARE ACTIVELY ENGAGED IN OVERSEEING THE FOUNDATION'S REMAINING ASSETS AND CHARITABLE ACTIVITIES.
Application Information
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2020 | N/A | $4.0M | $-152K | N/A |
| 2022 | $225K | $3.5M | $15K | 11 |
| 2023 | $185K | $4.0M | $60K | 9 |
| 2024 | $10K | $1.7M | $545K | 1 |
Grant Size Distribution
Based on 21 grants on record
Geographic Distribution
Key Personnel
| Name | Title | Compensation |
|---|---|---|
| CHRISTOPHER WILLETT | DIRECTOR | — |
| JENNIFER ALAINE WILLETT | DIRECTOR | — |
| WILLIAM MERRETT WILLETT | DIRECTOR | — |
| JEFFREY BRETT WILLETT | PRESIDENT/TREAS/SEC | — |
| CAITLIN ROGER | DIRECTOR | — |
Grants Awarded (21 total)
| Recipient | Location | Amount | Purpose | Year |
|---|---|---|---|---|
| WORLD CENTRAL KITCHEN | WASHINGTON, DC | $50,000 | GENERAL PURPOSE | 2022 |
| WGBH EDUCATIONAL FOUNDATION | BOSTON, MA | $30,000 | GENERAL PURPOSE | 2022 |
| NORTH FULTON COMMUNITY CHARITIES | ROSWELL, GA | $30,000 | GENERAL PURPOSE | 2023 |
| JOHNS HOPKINS UNIVERSITY | BALTIMORE, MD | $25,000 | GENERAL PURPOSE | 2023 |
| MULTIDISCIPLINARY ASSOCIATION FOR PSYCHEDELIC STUDIES | SAN JOSE, CA | $25,000 | GENERAL PURPOSE | 2023 |
| THE ANVIL ACADEMY | CUMMING, GA | $25,000 | GENERAL PURPOSE | 2022 |
| FOSTER CARE SUPPORT FOUNDATION | ROSWELL, GA | $25,000 | GENERAL PURPOSE | 2022 |
| THE ANVIL ACADEMY | CUMMING, GA | $25,000 | GENERAL PURPOSE | 2023 |
| WGBH EDUCATIONAL FOUNDATION | BOSTON, MA | $25,000 | GENERAL PURPOSE | 2023 |
| NORTH FULTON COMMUNITY CHARITIES | ROSWELL, GA | $25,000 | GENERAL PURPOSE | 2022 |
| CHEROKEE FAMILY VIOLENCE CENTER | CANTON, GA | $15,000 | GENERAL PURPOSE | 2022 |
| CHEROKEE FAMILY VIOLENCE CENTER | CANTON, GA | $15,000 | GENERAL PURPOSE | 2023 |
| FOSTER CARE SUPPORT FOUNDATION | ROSWELL, GA | $15,000 | GENERAL PURPOSE | 2023 |
| RONALD MCDONALD HOUSE CHARITIES | ATLANTA, GA | $15,000 | GENERAL PURPOSE | 2022 |
| THE DRAKE HOUSE INC | ROSWELL, GA | $15,000 | GENERAL PURPOSE | 2023 |
| MULTIDISCIPLINARY ASSOCIATION FOR PSYCHEDELIC STUDIES | SAN JOSE, CA | $10,000 | GENERAL PURPOSE | 2024 |
| ATLANTA TOYS FOR TOTS | BUFORD, GA | $10,000 | GENERAL PURPOSE | 2022 |
| MAKE-A-WISH GEORGIA | ATLANTA, GA | $10,000 | GENERAL PURPOSE | 2022 |
| THE DRAKE HOUSE INC | ROSWELL, GA | $10,000 | GENERAL PURPOSE | 2022 |
| CONVOY OF HOPE | SPRINGFIELD, MO | $10,000 | GENERAL PURPOSE | 2023 |
| ATLANTA COMMUNITY FOOD BANK | ATLANTA, GA | $10,000 | GENERAL PURPOSE | 2022 |