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Nonprofiteer
← IEEE FOUNDATION INC

Form 990 for tax year 2024

Filed by IEEE FOUNDATION INC.

Totals

Total revenue
$11,245,366
Total expenses
$6,538,091
Contributions and grants received
$8,819,394
Grants paid
$4,642,444
Program service revenue
$0
Investment income
$2,425,972
Other revenue
$0
Total assets, end of year
$84,710,583
Total liabilities, end of year
$2,618,530
Net assets or fund balances, end of year
$82,092,053
Program services expenses (Part IX)
$5,285,346
Management and general expenses
$1,136,520
Fundraising expenses
$116,225
Program service expenses (Part III)
$5,285,346

Program services were 80.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $3,355,893

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $5,463,501

  • 1g · Noncash contributions included above

    $66,669

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,426,542 · excluded $2,426,542

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $66,099

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

    securities $66,669

  • 7c · Gain or loss

    securities -$570 · other assets $0

  • 7d · Net gain or loss

    total -$570 · excluded -$570

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,633,810 · program services $3,633,810

  • 2 · Grants to domestic individuals

    total $630,036 · program services $630,036

  • 3 · Grants to foreign organizations and individuals

    total $378,598 · program services $378,598

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $46,000 · management and general $46,000

  • 11e · Fees: professional fundraising services

    total $25,228 · fundraising $25,228

  • 11f · Fees: investment management

    total $84,988 · management and general $84,988

  • 11g · Fees: other

    total $1,112,321 · program services $354,234 · management and general $758,087 · fundraising $0

  • 12 · Advertising and promotion

    total $90,997 · fundraising $90,997

  • 13 · Office expenses

    total $269,966 · program services $185,713 · management and general $84,253

  • 16 · Occupancy

    total $54,431 · program services $17,334 · management and general $37,097

  • 17 · Travel

    total $202,670 · program services $85,621 · management and general $117,049

  • 23 · Insurance

    total $9,046 · management and general $9,046

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,327,935 · end of year $8,440,091

  • 2 · Savings and temporary cash investments

    beginning of year $15,461,592 · end of year $11,972,092

  • 3 · Pledges and grants receivable

    beginning of year $3,249,439 · end of year $3,182,174

  • 4 · Accounts receivable

    beginning of year $157,076 · end of year $150,123

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $113,739 · end of year $134,922

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $49,260,513 · end of year $54,959,842

  • 12 · Investments: other securities

    beginning of year $1,654,046 · end of year $1,726,882

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $4,310,639 · end of year $4,144,457

  • 17 · Accounts payable and accrued expenses

    beginning of year $372,700 · end of year $595,932

  • 18 · Grants payable

    beginning of year $1,579,131 · end of year $2,022,598

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $385,466 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $19,077,577 · end of year $19,961,585

  • 28 · Net assets with donor restrictions

    beginning of year $55,120,105 · end of year $62,130,468

Mission and programs · 2024

Mission

To expand the IEEE charitable body of work by inspiring philanthropic engagement that ignites a donor's innermost interests and values.

Activities or mission (Part I)

The IEEE Foundation is the heart of IEEE charitable giving and philanthropy.

  • ENERGIZE: Energizing innovation by celebrating technological and academic excellence through the presentation of peer-to-peer recognitions (medals, awards, and service recognitions) to hundreds of individuals for life-transforming work and IEEE-Eta Kappa Nu, the honor society of IEEE, where the importance of scholarship, character, and attitude are emphasized.

    Expenses $2,831,038 · Grants $2,304,392

  • EDUCATE: Educating the next generation of innovators and engineers by nourishing students through academic opportunities: scholarships, fellowships, travel grants, mentoring, and introducing pre-university students to STEM and the history of technology with classroom curriculum, hands-on experiences, and interactive workshops. Programs include the IEEE PES Scholarship PLUS Initiative, IEEE REACH, TryEngineering, and Science Kits for Public Libraries.

    Expenses $1,139,341 · Grants $1,029,097

  • ILLUMINATE: Illuminating the possibilities of technology to address global challenges through the delivery and deployment of innovative sustainable projects that bring electricity, communication, education, and hope throughout the world. Programs include IEEE Smart Village, EPICS in IEEE, and IEEE Move Global.

    Expenses $971,095 · Grants $971,095

  • ENGAGE: Engaging a wider audience in appreciating the value and importance of engineering and technology through the work of the IEEE History Center to record, archive, and educate the public about the nature of technology and its relationship, both past and present, to society as well as the Life Members Fund, which supports new and exciting opportunities for young engineers and to keep Life Members active.

    Expenses $342,872 · Grants $336,860

  • FUTURE: Looking beyond our lifetime to share the destiny of future generations, by ensuring future generations have sufficient and appropriate educational and inspirational programs and services to lay the foundation now. Programs include IEEE WIE and the IEEE Foundation Fund.

    Expenses $1,000 · Grants $1,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher Geiger

    Treasurer

    Total calculated
    $0
    Hours/week
    4

  • Jerry L Hudgins

    Vice President, Programs

    Total calculated
    $0
    Hours/week
    4

  • John D McDonald

    Vice President, Development

    Total calculated
    $0
    Hours/week
    4

  • Marko Delimar

    Secretary

    Total calculated
    $0
    Hours/week
    4

  • Ralph Ford

    President

    Total calculated
    $0
    Hours/week
    4

  • Alex Acero

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Howard Michel

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Karen Panetta

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Lorena Garcia

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Mary Ellen Zellerbach

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Nim Cheung

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Sarah A Rajala

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Sarah Spurgeon

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Stephen Phillips

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • Tomy Sebastian

    Director-at-Large

    Total calculated
    $0
    Hours/week
    2

  • ANTHONY PATANE

    ASSISTANT TREASURER

    Total calculated
    $346,741
    From this org
    $0
    From related orgs
    $281,723
    Other
    $65,018
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $235,453 related
    Bonus
    $0 + $46,270 related
    Other
    $0
    Deferred
    $0 + $48,870 related
    Nontaxable benefits
    $0 + $16,148 related
    Filer's total
    $0 + $346,741 related

  • KAREN A GALUCHIE

    ASST SECRETARY & EXEC DIRE

    Total calculated
    $316,418
    From this org
    $0
    From related orgs
    $261,103
    Other
    $55,315
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $0 + $225,773 related
    Bonus
    $0 + $35,330 related
    Other
    $0
    Deferred
    $0 + $46,000 related
    Nontaxable benefits
    $0 + $9,315 related
    Filer's total
    $0 + $316,418 related

  • THOMAS R SIEGERT

    ASSISTANT TREASURER

    Total calculated
    $645,710
    From this org
    $0
    From related orgs
    $587,124
    Other
    $58,586
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $483,300 related
    Bonus
    $0 + $86,930 related
    Other
    $0 + $16,894 related
    Deferred
    $0 + $46,000 related
    Nontaxable benefits
    $0 + $12,586 related
    Filer's total
    $0 + $645,710 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.1
Source object
202543159349303614

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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