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Nonprofiteer
← TACO BELL FOUNDATION INC

Form 990 for tax year 2022

Filed by TACO BELL FOUNDATION INC.

Totals

Total revenue
$35,242,008
Total expenses
$18,923,210
Contributions and grants received
$35,171,246
Grants paid
$16,083,389
Program service revenue
$0
Investment income
$70,762
Other revenue
$0
Total assets, end of year
$49,068,263
Total liabilities, end of year
$492,915
Net assets or fund balances, end of year
$48,575,348
Program services expenses (Part IX)
$17,875,430
Management and general expenses
$446,888
Fundraising expenses
$600,892
Program service expenses (Part III)
$17,875,430

Program services were 94.5% 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.

  • 1c · Fundraising events

    $28,889,447

  • 1f · All other contributions, gifts and grants

    $6,281,799

  • 3 · Investment income

    total $218,081 · excluded $218,081

  • 7a · Gross sales of assets other than inventory

    securities $1,164,989

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

    securities $1,312,308

  • 7c · Gain or loss

    securities -$147,319

  • 7d · Net gain or loss

    total -$147,319 · excluded -$147,319

  • 8a · Fundraising events: gross income

    $3,714,533

  • 8a · Fundraising events: contributions included on line 1c

    $28,889,447

  • 8b · Fundraising events: direct expenses

    $3,714,533

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,971,925 · program services $6,971,925

  • 2 · Grants to domestic individuals

    total $9,111,464 · program services $9,111,464

  • 5 · Compensation of officers, directors and key employees

    total $355,215 · program services $170,503 · management and general $63,939 · fundraising $120,773

  • 7 · Other salaries and wages

    total $940,077 · program services $451,237 · management and general $169,214 · fundraising $319,626

  • 10 · Payroll taxes

    total $94,357 · program services $45,292 · management and general $16,984 · fundraising $32,081

  • 11a · Fees: management

    total $72,707 · management and general $72,707

  • 11b · Fees: legal

    total $1,786 · management and general $1,786

  • 11c · Fees: accounting

    total $34,699 · management and general $34,699

  • 11g · Fees: other

    total $570,085 · program services $559,728 · management and general $10,357

  • 12 · Advertising and promotion

    total $383,991 · program services $383,991

  • 13 · Office expenses

    total $33,078 · program services $15,877 · management and general $5,954 · fundraising $11,247

  • 14 · Information technology

    total $79,419 · program services $38,122 · management and general $14,295 · fundraising $27,002

  • 17 · Travel

    total $30,172 · program services $14,483 · management and general $5,431 · fundraising $10,258

  • 19 · Conferences, conventions and meetings

    total $230,351 · program services $110,569 · management and general $41,463 · fundraising $78,319

  • 22 · Depreciation, depletion and amortization

    total $9,219 · management and general $9,219

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $4,665 · program services $2,239 · management and general $840 · fundraising $1,586

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,790,823 · end of year $42,244,355

  • 2 · Savings and temporary cash investments

    beginning of year $2,503,721 · end of year $4,351,846

  • 3 · Pledges and grants receivable

    beginning of year $5,585,914 · end of year $2,465,030

  • 8 · Inventories for sale or use

    beginning of year $3,535 · end of year $3,535

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

    $31,120

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

    $27,625

  • 10c · Land, buildings and equipment, net

    beginning of year $7,968 · end of year $3,495

  • 15 · Other assets

    beginning of year $3,148 · end of year $2

  • 17 · Accounts payable and accrued expenses

    beginning of year $182,608 · end of year $492,915

  • 27 · Net assets without donor restrictions

    beginning of year $31,712,501 · end of year $48,066,706

  • 28 · Net assets with donor restrictions

    beginning of year $1,000,000 · end of year $508,642

Mission and programs · 2022

Mission

THE TACO BELL FOUNDATION BREAKS DOWN BARRIERS TO EDUCATE AND INSPIRE THE NEXT GENERATION OF LEADERS.

  • THE LIVE MAS SCHOLARSHIP PROGRAM IS DESIGNED TO HELP INNOVATORS AND CREATORS AGES 16-24 PURSUE UNIQUE PASSIONS THAT MAY NOT NECESSARILY FIT INTO THE TRADITIONAL "ACADEMIC OR "ATHLETIC" SCHOLARSHIP CATEGORIES. THE APPLICATION ONLY REQUIRES SUBMISSION OF A TWO-MINUTE VIDEO WHERE APPLICANTS SHARE WHAT THEY LOVE TO DO. THE 2022 SCHOLARSHIP PROGRAM AWARDED $9.1 MILLION. THE WIDE RANGE OF STUDENT PASSIONS INCLUDE MEDICINE, FILM, ENGINEERING, MUSIC AND COMMUNITY SERVICE. IN THE FIRST FIVE YEARS OF THE SCHOLARSHIP, THE TACO BELL FOUNDATION HAS ALREADY AWARDED $25.9 MILLION IN EDUCATION SUPPORT TO NEARLY 2300 STUDENTS, INCLUDING TACO BELL EMPLOYEES. STUDENTS IN THE PROGRAM HAVE ALSO BEEN GIVEN ACCESS TO OPPORTUNITIES BEYOND FINANCES, THROUGH WORKSHOPS TO HELP DEVELOP PERSONAL AND PROFESSIONAL SKILLS.

    Expenses $10,126,680 · Grants $9,111,464

  • TACO BELL FOUNDATION GRANTED BACK TO YOUTH-SERVING ORGANIZATIONS, INCLUDING THE BOYS AND GIRLS CLUBS OF AMERICA, IN AND AROUND COMMUNITIES WHERE TACO BELL DOES BUSINESS. OUR LOCAL GRANTS SUPPORT PROGRAMS AND EXPERIENCES THAT PREPARE YOUNG PEOPLE FOR HIGH SCHOOL GRADUATION AND EMPOWERS THEM TO CHANNEL THEIR PASSIONS SO THEY CAN GO ON TO ACHIEVE THEIR DREAMS THROUGH SECONDARY EDUCATION. SINCE 2013, THE TACO BELL FOUNDATION HAS GRANTED NEARLY $62 MILLION TO APPROXIMATELY 350 BOYS AND GIRLS CLUBS ACROSS THE COUNTRY.

    Expenses $7,748,750 · Grants $6,971,925

As filed on the 2022 return.

Listed in Part VII

  • Jennifer Bradbury

    EXECUTIVE DIRECTOR

    Total calculated
    $364,781
    From this org
    $355,214
    From related orgs
    $0
    Other
    $9,567
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,442
    Bonus
    $158,772
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,567
    Filer's total
    $364,781

  • Morgan Tabor

    DEVELOPMENT MANAGER

    Total calculated
    $160,054
    From this org
    $150,487
    From related orgs
    $0
    Other
    $9,567
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,903
    Bonus
    $30,584
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,567
    Filer's total
    $160,054

  • Marchela Iahdjian

    PROGRAMS AND PARTNERSHIPS

    Total calculated
    $146,559
    From this org
    $136,992
    From related orgs
    $0
    Other
    $9,567
    Hours/week
    40

  • Amber Snowden

    MARKETING MANAGER

    Total calculated
    $128,090
    From this org
    $118,523
    From related orgs
    $0
    Other
    $9,567
    Hours/week
    40

  • Neil Borkan

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mark King

    VICE CHAIR/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • James Cascone

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • Leigh Anne Tuohy

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Mark Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Steve Plank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Rob Alvarado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Todd Bisbocci

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Imaan Ferdowsi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Marjorie Perlman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • David Kathleen Grieve

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Kelly McCulloch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

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

  • 3 · Written employment contract
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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 5
BONUS PAID TO ORGANIZATION OFFICERS BASED ON ACHIEVING ANNUAL FUNDRAISING GOALS.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202343209349303814

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

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