Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $14,000

• 1f · All other contributions, gifts and grants

  $60,136,279

• 1g · Noncash contributions included above

  $20,496,685

• 3 · Investment income

  total $17,642,554 · unrelated business -$417,870 · excluded $18,060,424

• 7a · Gross sales of assets other than inventory

  securities $302,704,412

• 7b · Less cost or other basis and sales expenses

  securities $293,594,288

• 7c · Gain or loss

  securities $9,110,124

• 7d · Net gain or loss

  total $9,110,124 · excluded $9,110,124

• 11a · Other revenue: ADMINISTRATIVE FEES

  total $688,228 · excluded $688,228

• 11e · Other revenue, total

  $688,228

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $75,219,496 · program services $75,219,496

• 2 · Grants to domestic individuals

  total $4,169 · program services $4,169

• 5 · Compensation of officers, directors and key employees

  total $851,442 · program services $217,771 · management and general $608,744 · fundraising $24,927

• 7 · Other salaries and wages

  total $5,503,015 · program services $1,985,686 · management and general $1,840,397 · fundraising $1,676,932

• 8 · Pension plan contributions

  total $358,022 · program services $126,712 · management and general $121,826 · fundraising $109,484

• 9 · Other employee benefits

  total $686,039 · program services $225,273 · management and general $273,851 · fundraising $186,915

• 10 · Payroll taxes

  total $423,380 · program services $148,621 · management and general $157,040 · fundraising $117,719

• 11b · Fees: legal

  total $75,927 · program services $23,952 · management and general $46,201 · fundraising $5,774

• 11c · Fees: accounting

  total $171,469 · management and general $171,469

• 11d · Fees: lobbying

  total $54,207 · program services $54,207

• 11f · Fees: investment management

  total $2,159,184 · management and general $2,157,672 · fundraising $1,512

• 11g · Fees: other

  total $2,019,719 · program services $1,731,926 · management and general $102,906 · fundraising $184,887

• 12 · Advertising and promotion

  total $143,162 · program services $34,937 · management and general $41,000 · fundraising $67,225

• 13 · Office expenses

  total $218,741 · program services $14,610 · management and general $101,756 · fundraising $102,375

• 14 · Information technology

  total $441,410 · program services $50,212 · management and general $362,067 · fundraising $29,131

• 16 · Occupancy

  total $524,786 · program services $185,450 · management and general $199,037 · fundraising $140,299

• 17 · Travel

  total $36,343 · program services $14,323 · management and general $15,807 · fundraising $6,213

• 19 · Conferences, conventions and meetings

  total $291,990 · program services $107,623 · management and general $115,638 · fundraising $68,729

• 22 · Depreciation, depletion and amortization

  total $55,855 · program services $19,309 · management and general $21,436 · fundraising $15,110

• 24a · Other expenses: MISCELLANEOUS

  total $299,818 · program services $160,943 · management and general $112,140 · fundraising $26,735

• 24b · Other expenses: COMMUNITY EVENTS

  total $182,042 · program services $14,946 · management and general $6,394 · fundraising $160,702

• 24c · Other expenses: DUES & MEMBESHIPS

  total $108,152 · program services $19,930 · management and general $79,823 · fundraising $8,399

• 24d · Other expenses: D&O LIABILITY INSURANCE

  total $31,922 · management and general $31,922

• 24e · All other expenses

  total $16,281 · program services $16,281

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $44,494,700 · end of year $52,719,482

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $7,828,965 · end of year $6,028,305

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $12,286,692 · end of year $11,319,885

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $889,050 · end of year $885,779

• 10a · Land, buildings and equipment: cost or other basis

  $1,025,816

• 10b · Land, buildings and equipment: accumulated depreciation

  $852,938

• 10c · Land, buildings and equipment, net

  beginning of year $212,190 · end of year $172,878

• 11 · Investments: publicly traded securities

  beginning of year $604,426,450 · end of year $817,474,219

• 12 · Investments: other securities

  beginning of year $443,153,769 · end of year $2,737,407

• 13 · Investments: program-related

  beginning of year $1,415,143 · end of year $2,387,605

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $0 · end of year $626,475

• 17 · Accounts payable and accrued expenses

  beginning of year $5,099,818 · end of year $2,384,170

• 18 · Grants payable

  beginning of year $19,205,354 · end of year $10,006,139

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $87,833 · end of year $691,881

• 27 · Net assets without donor restrictions

  beginning of year $1,082,832,048 · end of year $875,781,454

• 28 · Net assets with donor restrictions

  beginning of year $7,481,906 · end of year $5,488,391

The filer's explanations (Part III)

PART I, LINE 3

THE ADMIN & AUDIT COMMITTEE WILL ANNUALLY REQUEST COMPARABLE COMPENSATION DATA FROM THE GMF VICE PRESIDENT, HUMAN RESOURCES AND ORGANIZATIONAL LEARNING (VP, HROL) FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER (CEO) POSITION AT THE FOUNDATION. THE COMPARABLE COMPENSATION DATA WILL GENERALLY COME FROM SALARY SURVEY DATA PROVIDED BY THE COUNCIL ON FOUNDATIONS AND SPECIFIC COMPARABLES OBTAINED FROM OTHER SURVEYS SUCH AS MRA AND THE NON PROFIT SURVEY CONDUCTED BY MRA, AND GUIDESTAR POSTED 990'S. THE VP, HROL WILL SITE COMPARABLES IN A REPORT AND REFERENCE WHERE DATA WAS OBTAINED. THE ADMIN & AUDIT COMMITTEE WILL REVIEW THE COMPARABLE DATA AND MAKE A RECOMMENDATION TO THE CHAIRMAN OF THE BOARD AND THEN TO THE FULL BOARD FOR ANY CHANGES IN THE CEO'S COMPENSATION, WITHOUT PARTICIPATION OR DISCUSSION WITH THE CEO. THE CEO MAY ANSWER QUESTIONS OF THE BOARD THAT MAY BE USED IN LATER DELIBERATIONS AND DECISION-MAKING. THE BOARD MUST DOCUMENT THE BASIS FOR DETERMINATION OF THE CEO'S SALARY. THE DOCUMENTATION MUST CONTAIN THE DATE AND TERMS OF THE COMPENSATION TRANSACTION, THE MEMBERS PRESENT FOR THE DECISION, AND WHAT COMPARABLE DATA WAS USED FOR THE DECISION. THE ADMIN & AUDIT COMMITTEE WILL BE PROVIDED WITH A TEMPLATE TO THE DOCUMENT PROCESS AND DECISION. THE ADMIN & AUDIT COMMITTEE WILL DRIVE THE PROCESS FOR DECISION-MAKING AND ASSURE THE DOCUMENTATION IS OBTAINED AND RECORDED IN BOTH THE BOARD MINUTES AND THE PERSONNEL FILE OF THE CEO. A SIMILAR PROCESS WILL BE USED FOR OTHER POSITIONS WITHIN THE FOUNDATION. HOWEVER, IT WILL BE THE CEO AND THE VP, HROL CONFERRING ON THESE OTHER POSITIONS.