TY 2023 Form 990PF

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	2,499,646	946,966	946,966
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	18,912,978	List of Attached Documents: // Content 10,163,755	18,682,891
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	21,412,624	11,110,721	19,629,857
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	21,412,624	11,110,721
	29	Total net assets or fund balances (see instructions).....	21,412,624	11,110,721
	30	Total liabilities and net assets/fund balances (see instructions).	21,412,624	11,110,721

(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	WILLIAM BLAIR (SEE ATTACHED)	P	2023-01-01	2023-12-31
b	WILLIAM BLAIR (SEE ATTACHED)	P	2022-01-01	2023-12-31
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	5,393,090
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 ...................	3

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	79,353
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
3	Add lines 1 and 2...........................	3	79,353
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	79,353
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	93,273
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............	7	93,273
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content	8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......	9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...	10	13,920
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax13,920	Refunded	11

(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
Carlette McMullan	Trustee 1.0	0	0	0
1150 E Westleigh Road Lake Forest,IL60045
John Gibbons	Trustee 0.5	0	0	0
1150 E Westleigh Road Lake Forest,IL60045
Madeleine Gibbons	Trustee 0.5	0	0	0
1150 E Westleigh Road Lake Forest,IL60045

		(a) Corpus	(b) Years prior to 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7					1,257,574
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				0
b Total for prior years:2021, 2020, 2019			0
3 Excess distributions carryover, if any, to 2022:
a From 2018......	323,648
b From 2019......	318,060
c From 2020......	1,060,553
d From 2021......
e From 2022......
f Total of lines 3a through e ........		1,702,261
4Qualifying distributions for 2023 from Part
XI, line 4: $ 18,624,683
a Applied to 2022, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2023 distributable amount.....					1,257,574
e Remaining amount distributed out of corpus		17,367,109
5 Excess distributions carryover applied to 2023.
(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		19,069,370
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........					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) .......
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...		323,648
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		18,745,722
10 Analysis of line 9:
a Excess from 2019....	318,060
b Excess from 2020....	1,060,553
c Excess from 2021....
d Excess from 2022....
e Excess from 2023....	17,367,109

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2023	(b) 2022	(c) 2021	(d) 2020	(e) Total

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

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Dionza Thomas C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
John D West C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	NONE		COLLEGE TUITION AND EXPENSES	5,000
Kamaria Turner C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	NONE		COLLEGE TUITION AND EXPENSES	5,000
Emily Cuevas C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	NONE		COLLEGE TUITION AND EXPENSES	5,000
Gabrielle Kennedy C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Cristshian Quinones C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Angelina Williams C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		college tuition and expenses	5,000
Desmond Moore C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		college tuition and expenses	5,000
Van Truong C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		college tuition and expenses	5,000
Zuftan Nguyen C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		college tuition and expenses	5,000
Darryl Skinner C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Caylan Goodman C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	10,000
Jackson Walker C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
My Linh Niolet C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Jasmyn Montiforte C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39346	none		COLLEGE TUITION AND EXPENSES	5,000
Jaylin Acker C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Amyah Jones C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Zipporah Chapman C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Keon Farmer C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Mallory Williams C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Community Foundation for Mississippi 119 South President Street 1st Flo Jackson,MS39201	public charity		general support	60,000
Lake County Community Foundation 1200 University Center Dr Suite 333 Grayslake,IL60030	public charity		general support	500,000
Zoe Scandurro C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Rhayna Ashley C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Mykenzie Mannion C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Mina Tran C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Rahmari Payne C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Jimmy Hoang C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Leigha West C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Claire Carter C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Madisyn Tingle C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		COLLEGE TUITION AND EXPENSES	5,000
Mississippi Center for Justice 210 E Capitol St Suite 1800 Jackson,MS39201	public charity		general support	10,000
Mississippi Journalism and Education Group 125 S Congress St 1324a Jackson,MS39201	public charity		general support	10,000
ShowerUp 815 N Albany Chicago,IL60622	public charity		general support	10,000
American Red Cross 430 17th Street NW Washington,DC20006	public charity		general support	10,000
Community Foundation of Washington County MS PO Box 5910 Greenville,MS38704	Public Charity		General Support	100,000
University of Southern Mississippi 118 College Drive Hattiesburg,MS39406	Public Charity		General Support	50,000
Eudora Welty Foundation PO Box 55685 Jackson,MS39296	Public Charity		General Support	40,000
NOVA Foundation 4001 Wakefield Chapel Road Ste 252 Annandale,VA22003	Public Charity		General Support	10,000
University of Mississippi Endowment 406 University Ave Oxford,MS38655	Public Charity		General Support	40,000
McMullanO'Connor Family Fund 541 East Scenic Drive Pass Christian,MS39571	Donor Advised Fund		General Support	17,595,973
Reese Gorman C/O Cille Norman Newton West High 201 West 1st Street Newton,MS39345	none		College Tuition and Expenses	5,000
Total ................................. 3a				18,590,973

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	2,688,900
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	420,222		420,222
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		5,393,090
b	Gross sales price for all assets on line 6a 19,429,693
7	Capital gain net income (from Part IV, line 2)...			5,393,090
8	Net short-term capital gain.........
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........	8,502,212		5,813,312
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	22,280	0	0	22,280
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	11,430	0	0	11,430
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	75,000
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	104,432	104,432
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	213,142		104,432	0	33,710
25	Contributions, gifts, grants paid.......	18,590,973				18,590,973
26	Total expenses and disbursements. Add lines 24 and 25	18,804,115		104,432	0	18,624,683
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-10,301,903
b	Net investment income (if negative, enter -0-)			5,708,880
c	Adjusted net income (if negative, enter -0-)...

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,195,890	1,108,511	87,379
b	18,233,803	12,928,092	5,305,711
c
d
e

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			87,379
b			5,305,711
c
d
e

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

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	(e) Related or exempt function income (See instructions.)
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 ....			14	420,222
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	5,393,090
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) ..				5,813,312


(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










Total number of other employees paid over $50,000...................

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	N/A
2


All other program-related investments. See instructions.
3

bApproved for future payment

Total ................................. 3b

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Name of organization James & Madeleine McMullan Family Foundation

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	Madeleine M McMullan Non-Grantor C 150 N Riverside Plaza Chicago, IL60606	$ 2,197,653	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	Madeleine M McMullan Irrevocable C 150 N Riverside Plaza Chicago, IL60606	$ 491,248	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)

Name of organization James & Madeleine McMullan Family Foundation		Employer identification number 36-3506203

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	16,420 SHS Alphabet Inc.	$ 2,197,653	2023-12-15
(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) (2023)


Name of organization James & Madeleine McMullan Family Foundation			Employer identification number 36-3506203
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.) $ Use duplicate copies of Part III if additional space is needed.

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