Nonprofit · EIN 35-2041399
RUSSELL AND PENNY FORTUNE FOUNDATION INC
Tax-exempt · ZIONSVILLE, IN 46077
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $224,939 | $317,294 | -$92,355 | $4,315,615 | $0 | $4,315,615 |
| December 31, 2023 | 990-PF | $182,179 | $317,168 | -$134,989 | $4,428,953 | $0 | $4,428,953 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $22,079
- Dividends
- $169,205
- Interest
- $637
- Net gain from sales of assets
- $33,018
Expenses
- Grants and similar amounts paid
- $231,510
- Compensation of officers, directors and key employees
- $27,500
- Disbursements for charitable purposes
- $278,400
- Excise tax on investment income
- $2,279
Balance sheet and other
- Total assets, start of year
- $4,428,953
- Total assets, end of year
- $4,315,615
- Total liabilities, end of year
- $0
- Net assets, end of year
- $4,315,615
- Fair market value of assets
- $5,782,313
- Qualifying distributions
- $278,400
- Net investment income
- $202,860
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES P FADLEY 7650 West 96th Street, Zionsville, IN 46077 | Executive Director | 0.5 | $27,500 |
| RUSSELL FORTUNE III 7650 West 96th Street, Zionsville, IN 46077 | Chairman | 0.5 | $0 |
| PAUL LINDEMANN 7650 West 96th Street, Zionsville, IN 46077 | Secretary | 0.5 | $0 |
| WILLIAM C METZGER 7650 West 96th Street, Zionsville, IN 46077 | Director | 0.5 | $0 |
| MARC A HETZNER 7650 West 96th Street, Zionsville, IN 46077 | Director | 0.5 | $0 |
990-PF for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES P FADLEY 7650 West 96th Street, Zionsville, IN 46077 | Executive Director | 0.5 | $27,500 |
| RUSSELL FORTUNE III 7650 West 96th Street, Zionsville, IN 46077 | Chairman | 0.5 | $0 |
| PAUL LINDEMANN 7650 West 96th Street, Zionsville, IN 46077 | Secretary | 0.5 | $0 |
| WILLIAM C METZGER 7650 West 96th Street, Zionsville, IN 46077 | Director | 0.5 | $0 |
| MARC A HETZNER 7650 West 96th Street, Zionsville, IN 46077 | Director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 7650 W 96TH ST, ZIONSVILLE, IN 46077-8422
- In care of
- % RUSSELL FORTUNE III
- Signed the 990-PF
- Russell Fortune III, Chairman
- Phone
- (317) 635-3241
- Return prepared by
- Forvis Mazars LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 35-2041399
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Unknown (Z99Z)
- Assets (IRS master file)
- $4,315,615
- Income (IRS master file)
- $191,921
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $224,939 | $317,294 | $4,315,615 | XML |
| 990-PF | December 2023 | $182,179 | $317,168 | $4,428,953 | XML |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 35-2041399).
Questions about RUSSELL AND PENNY FORTUNE FOUNDATION INC
- What is the EIN of RUSSELL AND PENNY FORTUNE FOUNDATION INC?
- The employer identification number (EIN) of RUSSELL AND PENNY FORTUNE FOUNDATION INC is 35-2041399.
- Is RUSSELL AND PENNY FORTUNE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to RUSSELL AND PENNY FORTUNE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does RUSSELL AND PENNY FORTUNE FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of RUSSELL AND PENNY FORTUNE FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RUSSELL AND PENNY FORTUNE FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of RUSSELL AND PENNY FORTUNE FOUNDATION INC?
- The 990-PF for the year ended December 31, 2024 lists 5 people; 1 received compensation from the organization, the highest $27,500 (JAMES P FADLEY, Executive Director).
- How much revenue does RUSSELL AND PENNY FORTUNE FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $224,939, expenses of $317,294 and total assets of $4,315,615 at year end.
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