Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
 
Number and street (or P.O. box number if mail is not delivered to street address)9030 STONY POINT PARKWAY SUITE 300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RICHMOND, VA23235
A Employer identification number

20-1840390
B Telephone number (see instructions)

(757) 221-0044
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$8,777,671J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 5,349,392
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 100,721 99,325  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 460,357
b Gross sales price for all assets on line 6a 870,502
7 Capital gain net income (from Part IV, line 2)... 460,357
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 5,910,470 559,682  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 1,960 1,960 0 0
c Other professional fees (attach schedule).... Click to see attachment 29,959 29,959   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 10,793 2,718   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 42 42    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 42,754 34,679 0 0
25 Contributions, gifts, grants paid....... 671,020 671,020
26 Total expenses and disbursements. Add lines 24 and 25 713,774 34,679 0 671,020
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,196,696
b Net investment income (if negative, enter -0-) 525,003
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 75,635 343,263 343,263
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 230,526    
b Investments—corporate stock (attach schedule)....... 604,126 Click to see attachment5,340,325 7,362,954
c Investments—corporate bonds (attach schedule)....... 226,435 Click to see attachment1,073,270 1,071,454
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 437,154   0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,573,876 6,756,858 8,777,671
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 1,573,876 6,756,858
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 1,573,876 6,756,858
30 Total liabilities and net assets/fund balances (see instructions). 1,573,876 6,756,858
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,573,876
2
Enter amount from Part I, line 27a .....................
2
5,196,696
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
5,007
4
Add lines 1, 2, and 3 ..........................
4
6,775,579
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
18,721
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
6,756,858
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 50000. SANOFI NT 4.00% DTD 03/29/2011 DUE 03/29/2021   2014-07-07 2021-03-29
b 75. SELECT SECTOR SPDR TR MATLS   2009-03-24 2021-03-30
c 175. VANGUARD FTSE DEVELOPED MARKETS ETF   2008-12-12 2021-03-30
d 5. VANGUARD REAL ESTATE ETF   2008-10-29 2021-03-30
e 25. VANGUARD INDEX FDS VANGUARD MID-CAP ETF   2008-02-22 2021-03-30
55. VANGUARD INDEX FDS VANGUARD SMALL-CAP ETF   2008-02-22 2021-03-30
250. BECTON DICKINSON & CO   2003-01-16 2021-04-19
25000. VERIZON COMMUNICATIONS INC SR GLBL NT 2.946% DTD 02/03/2017 DUE   2017-07-18 2021-05-10
45. BLACKROCK INC COM   2015-09-04 2021-06-03
185. CHEVRON TEXACO CORP   2006-12-18 2021-06-03
195. COLGATE PALMOLIVE CO   2006-12-19 2021-06-03
105. J P MORGAN CHASE & CO   2018-04-19 2021-06-03
120. MICROSOFT CORP   2008-02-22 2021-06-03
170. PNC BANK CORP   2006-12-18 2021-06-03
50. SELECT SECTOR SPDR TR MATLS   2009-03-24 2021-06-03
870. VANGUARD FTSE DEVELOPED MARKETS ETF   2008-12-12 2021-06-03
70. VANGUARD REAL ESTATE ETF   2008-10-29 2021-06-03
45. VANGUARD INDEX FDS VANGUARD MID-CAP ETF   2008-02-22 2021-06-03
50. VANGUARD INDEX FDS VANGUARD SMALL-CAP ETF   2008-02-22 2021-06-03
50000. METLIFE INC SR C STEP CPN DTD 09/15/2012 DUE   2012-09-28 2021-07-23
. CLASS ACTION PROCEEDS     2021-08-19
750. AT&T INC COM   2012-03-06 2021-10-25
450. DISNEY WALT CO   2021-07-14 2021-12-02
500. GLAXO WELLCOME PLC ADR   1993-08-05 2021-12-02
72. ORION OFFICE REIT INC COM   2021-11-15 2021-12-02
330. PNC BANK CORP   2006-12-18 2021-12-02
3000. ROWE T PRICE ST TAX FREE INCOME VIRGINIA TAX FREE BOND FUND   2021-07-14 2021-12-02
225. VANGUARD INDEX FDS VANGUARD MID-CAP ETF   2009-03-24 2021-12-02
89. VANGUARD INDEX FDS VANGUARD SMALL-CAP ETF   2008-02-22 2021-12-02
310. WASTE MGMT INC DEL   2008-02-22 2021-12-02
107. ACCENTURE PLC CLASS A ORDINARY SHARES   2021-07-14 2021-12-02
.5 ORION OFFICE REIT INC COM   2021-11-15 2021-12-31
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 50,000   50,000  
b 5,929   1,656 4,273
c 8,606   4,645 3,961
d 462   88 374
e 5,494   1,738 3,756
11,636   3,417 8,219
64,522   7,188 57,334
25,581   25,052 529
39,731   14,536 25,195
19,878     19,878
16,347     16,347
17,428   11,680 5,748
29,403   3,330 26,073
33,293     33,293
4,382   1,104 3,278
45,693   23,094 22,599
7,174   1,238 5,936
10,507   3,128 7,379
11,153   3,106 8,047
51,688   50,093 1,595
169     169
19,010   22,914 -3,904
66,241   71,063 -4,822
20,742   10,337 10,405
1,290   1,607 -317
66,634     66,634
37,530   37,890 -360
55,611   11,643 43,968
19,661   5,529 14,132
50,885   10,360 40,525
39,202   33,698 5,504
9   11 -2
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
      34,611
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a        
b       4,273
c       3,961
d       374
e       3,756
      8,219
      57,334
      529
      25,195
      19,878
      16,347
      5,748
      26,073
      33,293
      3,278
      22,599
      5,936
      7,379
      8,047
      1,595
      169
      -3,904
      -4,822
      10,405
      -317
      66,634
      -360
      43,968
      14,132
      40,525
      5,504
      -2
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 460,357
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 7,298
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 7,298
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 6,800
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 6,023
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 12,823
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 5,525
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet5,525 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletVA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletTCV TRUST & WEALTH MANAGEMENT Telephone no.bullet (757) 221-0044

    Located atbullet4350 NEW TOWN AVEWILLIAMSBURGVA ZIP+4bullet23188
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
     
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ELIZABETH R OGBURN PRESIDENT
    1     		0    
    7565 MELISSA LANE
    WILLIAMSBURG,VA23188
    WILLIAM F RUSSELL DIRECTOR
    1     		0    
    25025 BLACK BEAR LANE
    EUSTIS,FL327368472
    BARBARA R VALENTI SECRETARY
    02     		0    
    80 SKYLINE DRIVE
    MORRIS TOWNSHIP,NJ07960
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    3,876,927
    b
    Average of monthly cash balances.......................
    1b
    75,199
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,952,126
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    3,952,126
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    59,282
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    3,892,844
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    194,642
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    194,642
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    7,298
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,298
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    187,344
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    5,000
    5
    Add lines 3 and 4............................
    5
    192,344
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    192,344
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 192,344
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 281,825
    b From 2017...... 364,240
    c From 2018...... 376,954
    d From 2019...... 397,146
    e From 2020...... 487,004
    f Total of lines 3a through e ........ 1,907,169
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 671,020
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 192,344
    e Remaining amount distributed out of corpus 478,676
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 2,385,845
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		281,825
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		2,104,020
    10 Analysis of line 9:
    a Excess from 2017.... 364,240
    b Excess from 2018.... 376,954
    c Excess from 2019.... 397,146
    d Excess from 2020.... 487,004
    e Excess from 2021.... 478,676
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    GROTON CENTRAL HIGH SCHOOL
    400 PERU ROAD
    GROTON,NY13073     		NONE PC OPERATIONS 15,500
    HABITAT FOR HUMANITY
    285 PEACHTREE CENTER AVENUE N
    ATLANTA,GA30303     		NONE PC OPERATIONS 100,000
    HELEN KELLER INTERNATIONAL
    352 PARK AVENUE SOUTH 12TH FLOOR
    NEW YORK,NY10010     		NONE PC OPERATIONS 20,000
    MISSION HOUSE MINISTRIES
    38149 TIMBERLINE DRIVE
    UMATILLA,FL32784     		NONE PC OPERATIONS 50,000
    SAMARITAN'S PURSE
    POST OFFICE BOX 3000
    BOONE,NC28607     		NONE PC OPERATIONS 50,000
    SANKARA EYE FOUNDATION
    1900 MCCARTHY BLVD 305
    MILPITAS,CA95035     		NONE PC OPERATIONS 25,000
    SEE INTERNATIONAL
    175 CREMONA DRIVE SUITE 100
    SANTA BARBARA,CA93117     		NONE PC OPERATIONS 20,000
    THE SALVATION ARMY
    615 SLATERS LANE
    ALEXANDRIA,VA22313     		NONE PC OPERATIONS 50,000
    VIRGINIA PENINSULA REGIONAL JAIL
    9320 MERRIMAC TRAIL
    WILLIAMSBURG,VA23185     		NONE PC OPERATIONS 10,000
    WORLD VISION
    POST OFFICE BOX 70200
    TACOMA,WA98481     		NONE PC OPERATIONS 55,520
    DRURY UNIVERSITY OF
    INTERNATIONAL ADVANCEMENT
    900 NORTH BENTON AVENUE
    SPRINGFIELD,MO65890     		NONE PC OPERATIONS 50,000
    AMERICAN RED CROSS
    2825 EMERYWOOD PARKWAY
    RICHMOND,VA23224     		NONE PC OPERATIONS 50,000
    CONVOY OF HOPE
    330 S PATTERSON AVE
    SPRINGFIELD,MO65802     		NONE PC OPERATIONS 25,000
    AMERICARES
    88 HAMILTON AVE
    STAMFORD,CT06902     		NONE PC OPERATIONS 25,000
    BRIDGES TO PROSPERITY INC
    5007 C-126 VICTORY BOULEVARD
    YORKTOWN,VA23693     		NONE PC OPERATIONS 35,000
    DOCTORS WITHOUT BORDERS USA
    40 RECTOR STREET 16TH FLOOR
    NEW YORK,NY10001     		NONE PC OPERATIONS 35,000
    FISTULA FOUNDATION
    1900 THE ALAMADA SUITE 500
    SAN JOSE,CA95126     		NONE PC OPERATIONS 10,000
    T2T FOUNDATION
    2361 HYLAN BLVD
    STATEN ISLAND,NY10306     		NONE PC OPERATIONS 40,000
    EDUCATION THROUGH MUSIC
    122 EAST 42ND STREET
    NEW YORK,NY10168     		NONE PC OPERATIONS 5,000
    Total .................................bullet 3a 671,020
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 460,357  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) ..   561,078  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    561,078
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
     
    Employer identification number

    20-1840390
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
          		Employer identification number
    20-1840390
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    Marion B Russell Irrev UA Trust
    TCV TRUST WEALTH MANAGEMENT
    9030 STONY POINT PARKWAY SUITE 300
    RICHMOND, VA23235

    		$ 5,349,392


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
          		Employer identification number

    20-1840390
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 Securities from Marion B Russell Irrev UA Trust $ 5,435,858 2021-11-15
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
          		Employer identification number

    20-1840390
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,960 1,960    

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BAIRD INTERMEDIATE BOND FD 75,375 76,467
    GLAXOSMITHKLINE CAP PLC 25,214 25,206
    JOHNS HOPKINS HEALTH SYS CORP 75,146 76,809
    METLIFE INC SR C    
    SANOFI NT    
    VERIZON COMMUNICATIONS INC SR    
    MET GOVT NASHVILLE & DAVIDSON 52,100 54,671
    METROPOLITAN GOVT NASHVILLE 25,568 25,480
    NORTH CAROLINA MUN PWR AGY NO 50,158 50,000
    ST LOUIS REGL ARPT AUTH ILL LT 51,817 50,331
    TEXAS A & M UNIV REV REV FINAN 25,534 27,060
    WISCONSIN ST GEN FD ANNUAL APP 24,303 25,904
    ARLINGTON CNTY VA GO REF BDS 2 52,441 51,402
    BLACKROCK INC SR GLBL 24,977 24,804
    COLONIAL HEIGHTS VA GO PUB IMP 54,392 53,587
    FAIRFAX CNTY VA PUB IMPT AND R 28,981 28,551
    FAIRFAX CNTY VA ECONOMIC DEV A 26,453 26,167
    FAIRFAX CNTY VA WTR AUTH WTR R 25,612 25,294
    HAMPTON VA REF PUB IMPT BDS A 25,612 25,294
    MONTGOMERY CNTY VA ECONOMIC DE 51,999 51,496
    PORTSMOUTH VA GO REF BDS 2016 52,330 51,369
    RICHMOND VA GO PUB IMPT BDS 20 26,729 26,424
    ROANOKE CNTY VA ECONOMIC DEV A 51,949 51,499
    T ROWE PRICE VIRGINIA TAX-FREE    
    VIENNA VA GO PUB IMPT BDS 31,665 31,315
    VIRGINIA COLLEGE BLDG AUTH VA 54,322 53,564
    VIRGINIA COLLEGE BLDG AUTH VA 55,023 54,199
    VIRGINIA COLLEGE BLDG AUTH VA 55,185 54,525
    VIRGINIA ST HSG DEV AUTH COMWL 50,385 50,036

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Name of Stock End of Year Book Value End of Year Fair Market Value
    APTIV PLC SHS 29,737 37,114
    AT&T INC    
    ABBOTT LABORATORIES 84,312 104,570
    AMGEN INC 112,099 123,734
    AUTOMATIC DATA PROCESSING INC 108,684 192,332
    BECTON DICKINSON & CO    
    BLACKROCK INC 150,648 190,436
    BROWN CAPITAL MANAGEMENT 137,654 148,547
    CSX CORP 112,310 184,992
    CHEVRON CORP 74,120 194,918
    COLGATE PALMOLIV   132,704
    CONAGRA BRANDS 74,510 80,765
    DISNEY WALT CO 124,328 104,551
    DOMINION ENERGY 80,432 83,274
    FOX CORP CL A 99,072 106,826
    GLAXOSMITHKLINE PLC SPONSORED    
    HARDING LOEVNER INSTITUTIONAL 292,736 334,998
    INTEL CORP 46,276 60,255
    JPMORGAN CHASE & C 154,142 171,018
    MASCO CORP 62,484 77,944
    MICROSOFT CORP 211,326 524,659
    MONDELEZ INTL INC 34,849 78,577
    NORTHROP GRUMMAN CORP 66,086 71,608
    PNC FINL SVCS GROUP    
    PROCTER & GAMBLE CO 55,096 90,787
    SELECT SECTOR SPDR TR MATLS 108,686 147,694
    STARBUCKS CORP 59,023 63,749
    TJX COS INC 34,794 45,552
    TC ENERGY CORP 48,326 52,125
    TRUIST FINL CORP   46,840
    UNITEDHEALTH GROUP 252,459 434,351
    VF CORP COM 79,949 124,474
    VANGUARD FTSE DEVELOPED MARKET 176,661 345,676
    VANGUARD REAL ESTATE 226,050 305,686
    VANGUARD INDEX FDS MID-CAP 274,944 373,238
    VANGUARD INDEX FDS VANGUARD    
    VISA INC COM 235,568 286,274
    WASTE MANAGEMENT INC 89,008 146,872
    WELLS FARGO & CO   40,783
    APPLE INC COM 5,945 7,103
    BROADCOM INC COM 4,864 6,654
    ACCENTURE PLC CLASS A ORDINARY 66,136 87,056
    CHUBB LIMITED COM 76,293 89,889
    DIAGEO PLC SPONSORED ADR NEW 30,935 35,222
    FASTENAL CO COM 68,738 83,278
    HOME DEPOT INC COM 95,403 124,088
    INTUIT COM 47,767 60,463
    ISHARES MSCI EAFE MIN VOL FACT 72,948 72,932
    MICROCHIP TECHNOLOGY INC COM 43,505 52,236
    NOVARTIS AG SPONSORED ADR 24,926 23,617
    PEPSICO INC COM 30,033 33,873
    PRICE T ROWE GROUP INC COM 132,869 128,013
    REALTY INCOME CORP COM 53,534 51,903
    RUSSELL INVESTMENTS GLOBAL EQU 180,453 178,173
    US BANCORP DEL COM NEW 54,154 53,530
    VANGUARD INTL GROWTH FUND ADM 235,942 195,020
    ZOETIS INC CL A 153,384 201,325
    VANGUARD INDEX FDS VANGUARD SM 266,127 370,656

    TY 2021 OtherDecreasesSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Description Amount
    2021 TRANSACTION POSTED IN 2022 5
    RETURN OF CAPITAL 860
    COST BASIS ADJ-INCORRECT ENDING BAL 17,856


    TY 2021 OtherExpensesSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NON-ALLOCABLE EXPENSE - 27 27   0
    OTHER EXPENSE (NON-DEDUCTIBLE 15 15   0


    TY 2021 OtherIncreasesSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Description Amount
    2020 TRANSACTION POSTED IN 2021 2
    RECOVERY OF GRANTS 5,000
    ROUNDING 5


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMNT MNGMNT FEES (NON-DED 29,959 29,959    


    TY 2021 TaxesSchedule
    Name:
    BANGS-RUSSELL FOUNDATION XXX-XX-XXXX
    EIN:
    20-1840390
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 767 767   0
    FEDERAL TAX PAYMENT - PRIOR YE 6,800 0   0
    FEDERAL ESTIMATES - PRINCIPAL 1,275 0   0
    FOREIGN TAXES ON QUALIFIED FOR 1,647 1,647   0
    FOREIGN TAXES ON NONQUALIFIED 304 304   0