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Nonprofiteer
← MATHER FOUNDATION

Form 990 for tax year 2024

Filed by MATHER FOUNDATION.

Totals

Total revenue
$66,562,780
Total expenses
$23,384,787
Contributions and grants received
$30,504,740
Grants paid
$16,432,284
Program service revenue
$0
Investment income
$36,058,040
Other revenue
$0
Total assets, end of year
$807,575,812
Total liabilities, end of year
$110,472,031
Net assets or fund balances, end of year
$697,103,781
Program services expenses (Part IX)
$16,432,284
Management and general expenses
$6,952,503
Fundraising expenses
$0
Program service expenses (Part III)
$16,432,284

Program services were 70.3% 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.

  • 1d · Related organizations

    $30,504,740

  • 3 · Investment income

    total $16,046,990 · unrelated business -$348,807 · excluded $16,395,797

  • 7a · Gross sales of assets other than inventory

    securities $87,674,000

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

    securities $67,662,950

  • 7c · Gain or loss

    securities $20,011,050

  • 7d · Net gain or loss

    total $20,011,050 · unrelated business $395,875 · excluded $19,615,175

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,432,284 · program services $16,432,284

  • 11f · Fees: investment management

    total $3,303,810 · management and general $3,303,810

  • 13 · Office expenses

    total $80,640 · management and general $80,640

  • 20 · Interest

    total $2,820,842 · management and general $2,820,842

  • 24a · Other expenses: CORPORATE SERVICES

    total $738,664 · management and general $738,664

  • 24b · Other expenses: UBI TAXES

    total $8,547 · management and general $8,547

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,701,831 · end of year $62,535,689

  • 7 · Other notes and loans receivable

    beginning of year $90,064,454 · end of year $41,963,589

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,250 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $294,154,048 · end of year $328,820,258

  • 12 · Investments: other securities

    beginning of year $283,642,784 · end of year $305,687,931

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $58,092,122 · end of year $68,568,345

  • 17 · Accounts payable and accrued expenses

    beginning of year $877,606 · end of year $954,162

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $98,869,729 · end of year $99,015,570

  • 25 · Other liabilities

    beginning of year $5,502,299 · end of year $10,502,299

  • 27 · Net assets without donor restrictions

    beginning of year $582,804,949 · end of year $650,230,551

  • 28 · Net assets with donor restrictions

    beginning of year $45,602,906 · end of year $46,873,230

Mission and programs · 2024

Mission

MATHER FOUNDATION SERVES AS THE PARENT ENTITY FOR THE MATHERORGANIZATIONS TO HOLD, INVEST AND PRESERVE FUNDS, WHICH ALLOWS THEORGANIZATIONS TO PROVIDE HOUSING, HEALTH CARE, COMMUNITY PROGRAMS,RESEARCH AND EDUCATION AND OTHER SERVICES (CONTINUED IN SCHEDULE O)THAT ENHANCE THE LIVES OF OLDER ADULTS BY CREATING WAYS TO AGE WELL.

Activities or mission (Part I)

MATHER FOUNDATION SERVES AS THE PARENT ENTITY FOR MATHER ORGANIZATIONS (CONTINUED ON SCHEDULE O) TO HOLD, INVEST AND PRESERVE FUNDS, AND APPLY THEM FOR THE CHARITABLEMISSION OF CREATING WAYS TO AGE WELL.

  • MATHER FOUNDATION SERVES AS THE PARENT ENTITY FOR THE MATHERORGANIZATIONS TO HOLD, INVEST AND PRESERVE FUNDS, WHICH ALLOWS THEORGANIZATIONS TO PROVIDE HOUSING, HEALTH CARE, COMMUNITY PROGRAMS,RESEARCH AND EDUCATION AND OTHER SERVICES THAT ENHANCE THE LIVES OFOLDER ADULTS BY CREATING WAYS TO AGE WELL.

    Expenses $16,432,284 · Grants $16,432,284

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

Listed in Part VII

  • Mary G Leary

    PRESIDENT & CEO

    Total calculated
    $2,061,920
    From this org
    $0
    From related orgs
    $1,875,195
    Other
    $186,725
    Hours/week
    10 + 50.4 related

    Schedule J breakdown matched by us

    Base
    $0 + $808,633 related
    Bonus
    $0 + $682,539 related
    Other
    $0 + $384,023 related
    Deferred
    $0 + $150,150 related
    Nontaxable benefits
    $0 + $36,575 related
    Filer's total
    $0 + $2,061,920 related

  • John R Phillips

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    4 + 0.5 related

  • Graham W Atkinson

    DIRECTOR - THRU 03/2024

    Total calculated
    $0
    Hours/week
    2

  • Timothy L Burke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Todd Burns

    DIRECTOR - AS OF 08/2024

    Total calculated
    $0
    Hours/week
    2

  • Gloria Castillo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jenny Chan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.2 related

  • Jack Chandler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michelle L Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Paulette R Dodson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael G McGee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sumati Murli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Scott C Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.1 related

  • Terence J Toth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christopher Manella

    SVP FINANCE & TREASURER

    Total calculated
    $569,035
    From this org
    $0
    From related orgs
    $511,159
    Other
    $57,876
    Hours/week
    2 + 48.4 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,407 related
    Bonus
    $0 + $147,000 related
    Other
    $0 + $94,752 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $33,726 related
    Filer's total
    $0 + $569,035 related

  • Julie Riggs

    SECRETARY

    Total calculated
    $260,048
    From this org
    $0
    From related orgs
    $211,471
    Other
    $48,577
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,054 related
    Bonus
    $0 + $27,086 related
    Other
    $0 + $10,331 related
    Deferred
    $0 + $15,417 related
    Nontaxable benefits
    $0 + $33,160 related
    Filer's total
    $0 + $260,048 related

  • Mary Schoeggl

    CFO

    Total calculated
    $461,731
    From this org
    $0
    From related orgs
    $409,108
    Other
    $52,623
    Hours/week
    15 + 35.4 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,357 related
    Bonus
    $0
    Other
    $0 + $5,751 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $28,473 related
    Filer's total
    $0 + $461,731 related

  • Carol L Sussenbach

    FORMER CFO

    Total calculated
    $195,895
    From this org
    $0
    From related orgs
    $195,895
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $72,134 related
    Other
    $0 + $123,761 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $195,895 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 3
TOP MANAGEMENT'S COMPENSATION MATHER FOUNDATION'S TOP MANAGEMENT'S COMPENSATION IS ESTABLISHED BY MATHER, AS THE COMPENSATION IS PAID BY MATHER (A RELATED ORGANIZATION). MATHER FOLLOWS PROCEDURES TO ESTABLISH THE "REBUTTABLE" PRESUMPTION OF REASONABLENESS DESCRIBED IN THE INCOME TAX REGULATIONS IN DETERMINING EXECUTIVE COMPENSATION. COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD'S COMPENSATION COMMITTEE, WHICH CONSISTS OF INDEPENDENT DIRECTORS WHO OBTAIN AND RELY ON APPROPRIATE DATA AS TO COMPARABILITY. OBJECTIVE EVIDENCE OF REASONABLENESS AND COMPARABILITY IS OBTAINED FROM INFORMATION PROVIDED BY AN INDEPENDENT, THIRD PARTY COMPENSATION CONSULTANT. DETERMINATION OF EXECUTIVE COMPENSATION INVOLVES BENCHMARKING WITH COMPARATIVE MARKET COMPENSATION DATA TO ENSURE THAT COMPENSATION IS FAIR, EQUITABLE, AND WITHIN THE STANDARDS OF COMPENSATION UTILIZED WITHIN THE INDUSTRY. COMPENSATION DECISIONS ARE DOCUMENTED AND REVIEWED WITH THE FULL BOARD. PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN MARY G. LEARY IS THE ONLY PARTICIPANT IN MATHER'S 457(F) PLAN. AS OF 2021, THE PLAN IS FROZEN AND NO LONGER ACCEPTING CONTRIBUTIONS.
PART I, LINE 4B:
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN MATHER OFFERS A LONG-TERM INCENTIVE PLAN (LTIP) TO CERTAIN MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM, WHICH IS BASED ON OVERLAPPING THREE-YEAR CYCLES, AND PROVIDES FOR INCENTIVE PAYMENTS BASED UPON ACHIEVEMENT OF SPECIFIC THREE-YEAR PERFORMANCE OBJECTIVES. DISTRIBUTIONS WERE PAID OUT IN 2024 TO MARY G. LEARY OF $347,180, CAROL L. SUSSENBACH OF $123,761, AND CHRISTOPHER MANELLA OF $90,546. THE AMOUNTS WERE INCLUDED AS TAXABLE COMPENSATION IN EACH INDIVIDUAL'S W-2.

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

  • MATHER

    $16,432,284

    MISSION DRIVEN PROGRAMS

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TUCSON MATHER PLAZA LLC

    SENIOR LIVING · AZ

  • TYSONS HOLDINGS LPC LLC

    HOLDING CO · IL

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202513189349312606

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