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Nonprofiteer
← ABLELIGHT FOUNDATION INC

Form 990 for tax year 2023

Filed by ABLELIGHT FOUNDATION INC.

Totals

Total revenue
$9,751,937
Total expenses
$53,460
Contributions and grants received
$2,941,648
Grants paid
$0
Program service revenue
$0
Investment income
$6,810,289
Other revenue
$0
Total assets, end of year
$113,796,873
Total liabilities, end of year
$5,296,475
Net assets or fund balances, end of year
$108,500,398
Program services expenses (Part IX)
$0
Management and general expenses
$53,460
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $2,941,648

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $2,399,611 · related or exempt $2,399,611 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $28,171,228 · other assets $0

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

    securities $23,760,550 · other assets $0

  • 7c · Gain or loss

    securities $4,410,678 · other assets $0

  • 7d · Net gain or loss

    total $4,410,678 · related or exempt $4,410,678 · unrelated business $0 · excluded $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $13,425 · management and general $13,425

  • 11f · Fees: investment management

    total $0

  • 24a · Other expenses: Other Expenses

    total $40,035 · program services $0 · management and general $40,035 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,755,780 · end of year $3,303,596

  • 11 · Investments: publicly traded securities

    beginning of year $91,595,842 · end of year $99,971,354

  • 15 · Other assets

    beginning of year $9,399,621 · end of year $10,521,923

  • 17 · Accounts payable and accrued expenses

    beginning of year $132,530 · end of year $192,916

  • 25 · Other liabilities

    beginning of year $5,243,593 · end of year $5,103,559

  • 27 · Net assets without donor restrictions

    beginning of year $90,902,117 · end of year $95,101,696

  • 28 · Net assets with donor restrictions

    beginning of year $8,473,003 · end of year $13,398,702

Mission and programs · 2023

Mission

See description of mission at Schedule O supplemental information for Form 990, Part I, Line 1.

Activities or mission (Part I)

See schedule O.

  • THE CORPORATION IS A CHARITABLE, RELIGIOUS AND EDUCATIONAL ORGANIZATION, THE PURPOSE OF WHICH IS TO SOLICIT, HOLD, MANAGE, INVEST AND EXPEND ENDOWMENT FUNDS AND OTHER GIFTS, GRANTS AND BEQUESTS, WHETHER CONSISTING OF REAL OR PERSONAL PROPERTY, AND WHETHER SUBJECT TO DIRECTIONS OR CONDITIONS IMPOSED BY DONORS, EXCLUSIVELY FOR THE MAINTENANCE AND BENEFIT OF ABLELIGHT INC OF WATERTOWN, WISCONSIN AND SUCH OF ITS CHARITABLE, RELIGIOUS OR EDUCATIONAL PROGRAMS OR ACTIVITIES AS THE BOARD OF DIRECTORS OF THIS CORPORATION FROM TIME TO TIME DEEM TO BE SUITABLE AND APPROPRIATE.

As filed on the 2023 return.

Listed in Part VII

  • Keith Jones

    PRESIDENT AND CEO

    Total calculated
    $539,668
    From this org
    $0
    From related orgs
    $505,925
    Other
    $33,743
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $505,925 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $16,484 related
    Nontaxable benefits
    $0 + $17,259 related
    Filer's total
    $0 + $539,668 related

  • Jeffrey Kaczmarski

    VICE PRESIDENT AND CHIEF LEGAL OFFICER

    Total calculated
    $376,850
    From this org
    $0
    From related orgs
    $331,684
    Other
    $45,166
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $331,684 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $35,278 related
    Nontaxable benefits
    $0 + $9,888 related
    Filer's total
    $0 + $376,850 related

  • Brian Savoie

    VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

    Total calculated
    $354,297
    From this org
    $0
    From related orgs
    $296,434
    Other
    $57,863
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,434 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $34,386 related
    Nontaxable benefits
    $0 + $23,477 related
    Filer's total
    $0 + $354,297 related

  • Diane Ekstrand

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $326,478
    From this org
    $0
    From related orgs
    $273,973
    Other
    $52,505
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $273,973 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,552 related
    Nontaxable benefits
    $0 + $18,953 related
    Filer's total
    $0 + $326,478 related

  • Cindy Moon-Mogush

    FORMER CHIEF MARKETING AND COMMUNICATIONS OFFICER

    Total calculated
    $325,024
    From this org
    $0
    From related orgs
    $273,812
    Other
    $51,212
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,333 related
    Bonus
    $0
    Other
    $0 + $62,479 related
    Deferred
    $0 + $30,399 related
    Nontaxable benefits
    $0 + $20,813 related
    Filer's total
    $0 + $325,024 related

  • Victor Nightingale

    FORMER CHIEF INFORMATION OFFICER

    Total calculated
    $312,826
    From this org
    $0
    From related orgs
    $232,109
    Other
    $80,717
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $232,109 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $56,000 related
    Nontaxable benefits
    $0 + $24,717 related
    Filer's total
    $0 + $312,826 related

  • Nisha Gandhi

    FORMER VP OF DEVELOPMENT

    Total calculated
    $290,976
    From this org
    $0
    From related orgs
    $250,455
    Other
    $40,521
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,147 related
    Bonus
    $0
    Other
    $0 + $32,308 related
    Deferred
    $0 + $30,621 related
    Nontaxable benefits
    $0 + $9,900 related
    Filer's total
    $0 + $290,976 related

  • Juli Frank

    CHIEF OPERATING OFFICER

    Total calculated
    $279,934
    From this org
    $0
    From related orgs
    $239,890
    Other
    $40,044
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,890 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $31,551 related
    Nontaxable benefits
    $0 + $8,493 related
    Filer's total
    $0 + $279,934 related

  • Randall Odzer

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Malcolm Conner

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Jim Rymarcsuk

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Thor Misko

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Timothy Vaughn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Will Coughlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Robert Sigler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • J Larry Tyler

    FORMER DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
THE BOARD OF DIRECTORS EXECUTIVE COMMITTEE SERVES AS A COMPENSATION COMMITTEE WITH THE DUTY TO REVIEW AND MAKE FINDINGS AS TO THE REASONABLENESS OF (I) THE COMPENSATION PAID AND BENEFITS PROVIDED TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, AND (II) THE RECOMMENDATIONS OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER FOR THE COMPENSATION RANGES AND BENEFIT LEVELS FOR THE CHIEF LEGAL OFFICER, THE CHIEF FINANCIAL OFFICER, THE CHIEF OPERATING OFFICER, THE CHIEF HUMAN RESOURCES OFFICER, THE CHIEF ADVANCEMENT OFFICER AND ALL OTHER PERSONS WHOM IT DETERMINES TO BE IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE CORPORATION WITHIN THE MEANING OF SECTION 4958 OF THE INTERNAL REVENUE CODE ("DISQUALIFIED PERSONS"). IN DOING SO, IT (1) IDENTIFIES ALL DISQUALIFIED PERSONS; (2) PERIODICALLY (AT LEAST IN EVERY ODD-NUMBERED YEAR) REVIEWS AND DETERMINES THE REASONABLENESS OF THE COMPENSATION AND BENEFIT LEVELS OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER; (3) PERIODICALLY (AT LEAST IN EVERY ODD-NUMBERED YEAR) REVIEWS AND DETERMINES THE REASONABLENESS OF THE RECOMMENDATIONS OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER FOR THE COMPENSATION RANGES AND BENEFIT LEVELS OF OTHER DISQUALIFIED PERSONS; (4) CONSIDERS ALL INCENTIVES, PERQUISITES, DEFERRED COMPENSATION, AND ANYTHING OF VALUE WHEN CONSIDERING THE REASONABLENESS OF COMPENSATION OR BENEFIT LEVELS; (5) OBTAINS FROM SOURCES OUTSIDE THE CORPORATION OBJECTIVE, MARKET-COMPARABLE COMPENSATION AND BENEFIT LEVEL DATA; (6) DOCUMENTS ITS CONSIDERATIONS AND DETERMINATIONS IN WRITTEN REPORTS; AND (7) AT LEAST ANNUALLY REPORTS ITS ACTIVITIES AND FINDINGS TO THE BOARD OF DIRECTORS.
Schedule J, Part I, Line 4
CINDY MOON-MOGUSH SEVERANCE - $62,479; NISHA GANDHI SEVERANCE - $32,308

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

No itemized grants to organizations on this return.

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
2023
Filed
31 May 2025
IRS schema version
2023v6.0
Source object
202521919349301767

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