Guilliom Family Foundation

3018 14th St

Detroit, MI 48216

chair@guilliomfamilyfoundation.org

These are useful for drafting 990-PFs, and for Audits. Also, in the spirit of full transparency, we encourage anyone interested to review.

2025

2024

2023

2022 - March 27 through year end (no file for first quarter when we were with TD Ameritrade, but likely minimal transactions then)

2021

Hey, Max!

Here’s key information about this process.

Relevant sections from the Trust agreement:

Adding board members:

Potential Board members who are not descendants of Brian or Nancy Guilliom may be elected to the Board via nomination from a currently active Board member, and unanimous Board vote. These are full fledged Board members, endowed with all rights and responsibilities[AG1] .

[AG1]This topic arose to accommodate spouses & significant others. But subcommittee feels should be open to anyone who is interested in contributing to these causes and shares a positive community vibe with the family.

Removing board members:

Board members must respect each other, and be good listeners. Yelling, disrespectful words, or dishonesty are not acceptable behavior. Generosity & kindness are expected. If you agree to remain on the board, you must abide by these principals.

Board members should weigh carefully that not only should they not profit from the trust, but also any possibility of damaging the reputation of the trust through possible accusation of self-interest. Full disclosure to the board of any potential conflict of interest is expected.

Board members not reasonably adhering to conduct guidelines, or not actively supporting the Foundation, may be removed from the Board by unanimous or unanimous-less-one vote.[AG1]

[AG1]This clause was added with the intent to address board members elected to the board due to marriage or relationship (new process, above). If that relationship is ended, and there is acrimony or they become inactive, to provide a means to remove their membership, with agreement of the board.

Process precedent:

Allison was our first elected board member. You nominated her in our last board meeting, as the first item on the agenda following introductions. Allison physically left the meeting during the election process. we sent her application letter to the board, in advance of the meeting, and also included it in the meeting packet.

suggestion for this year - collect Diane & Brent’s applications, and forward to the board together. i’ll add them as agenda items, and include their letters.

here’s Allison’s application letter, as an example. i think it’s a pretty good example to send out to potential nominees.

Links to our guides for managing money.

Internal Audit

This is a guide for our internal auditor, assigned randomly among non-officers at our annual meeting. Whatever year the meeting was held (for example, 2026), the audit will be of the previous year (in this example, that would be 2025). We ask that you conduct the audit within a month of the assignment, and report the results to the Chair.

The audit process should probably take 2-3 hours altogether. The first step is, you’ll need to request read-only access to the GFF Schwab investment portfolio website. You can request that from the Secretary or Treasurer (list of officers is also on this website). There’s three documents you’ll need to gather at the beginning, all of them are available on Schwab or this website. Then the guide (link above) will walk you step by step through the process.

Thank you for helping us feel confident in the financial security of our foundation!

Efiling the 990-PF

Here’s a link to a guide for efiling with the IRS for our foundation. This needs to be done by May 15 annually. It hasn’t been possible to submit hardcopy since 2021. I’ve tried different submission packages, and nobody comes near Tax 990. it costs a little more, but it’s worth it. I just log in with my google account, so you’ll probably have to create your own account. it’s pretty smart about loading in your history data with our EIN, though.

It’s probably going to take 5-8 hours altogether, between gathering the docs, and walking through the forms. the finished product is 20-ish pages long, but a lot of it is blanks and checkmarks, and i’ll walk you through all of that.

One significant consideration is whether we had a remote meeting, or in person. The in person years involve a little more accounting work.

There’s one nut i still haven’t cracked as of the 2025 990 submission, which is reconciling the net income with cash flow; i’ve been plugging that number. hopefully, next year..

Current Bylaws (2024 approved update)

Current GFF Logo (2024)

Original GFF Logo (2001)

Original Bylaws (proposed Trust agreement 2001, Trust agreement as amended per IRS requirements 2002, EIN paperwork, and associated documents exchanged with IRS)

Original Meeting notes Feb 1998