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← PWC FOUNDATION INC

Form 990 for tax year 2023

Filed by PWC FOUNDATION INC.

Totals

Total revenue
$7,332,357
Total expenses
$38,958,524
Contributions and grants received
$3,201,013
Grants paid
$36,268,758
Program service revenue
$0
Investment income
$4,131,344
Other revenue
$0
Total assets, end of year
$77,145,151
Total liabilities, end of year
$24,469,884
Net assets or fund balances, end of year
$52,675,267
Program services expenses (Part IX)
$38,823,446
Management and general expenses
$135,078
Fundraising expenses
$0
Program service expenses (Part III)
$38,823,446

Program services were 99.7% 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.

  • 1f · All other contributions, gifts and grants

    $3,201,013

  • 3 · Investment income

    total $4,063,170 · excluded $4,063,170

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

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $10,936,029

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

    securities $10,867,855

  • 7c · Gain or loss

    securities $68,174

  • 7d · Net gain or loss

    total $68,174 · excluded $68,174

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $34,777,500 · program services $34,777,500

  • 2 · Grants to domestic individuals

    total $782,367 · program services $782,367

  • 3 · Grants to foreign organizations and individuals

    total $708,891 · program services $708,891

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $64,329 · management and general $64,329

  • 11b · Fees: legal

    total $12,700 · management and general $12,700

  • 11c · Fees: accounting

    total $31,724 · management and general $31,724

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: STATE FILING FEES/OTHER

    total $26,325 · management and general $26,325

  • 24b · Other expenses: EDUCATIONAL CONTENT

    total $2,554,688 · program services $2,554,688

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 $3,223,601 · end of year $21,320,639

  • 3 · Pledges and grants receivable

    beginning of year $21,944,156 · end of year $2,421,232

  • 4 · Accounts receivable

    beginning of year $0 · end of year $84,674

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,808,958 · end of year $2,247,595

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $82,325,080 · end of year $51,071,011

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,392 · end of year $41,535

  • 18 · Grants payable

    beginning of year $25,428,017 · end of year $24,428,349

  • 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 $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $48,520,135 · end of year $47,589,313

  • 28 · Net assets with donor restrictions

    beginning of year $35,317,251 · end of year $5,085,954

Mission and programs · 2023

Mission

THE PWC FOUNDATION, INC. (FORMERLY PRICEWATERHOUSECOOPERS CHARITABLE FOUNDATION, INC). (THE FOUNDATION) IS A SECTION 501(C)(3) ORGANIZATION THAT IS FORMED UNDER THE NONPROFIT LAWS OF THE STATE OF NEW YORK. THE FOUNDATION'S MISSION IS TO PROVIDE ASSISTANCE TO THE PEOPLE OF PWC US GROUP LLP (PWC) IN TIMES OF FINANCIAL HARDSHIP AND TO NON-PROFIT ORGANIZATIONS THAT SUPPORT, PROMOTE AND INVEST IN EMERGING SOLUTIONS TO SOCIETY'S GREATEST CHALLENGES IN EDUCATION AND HUMANITARIANISM. THE FOUNDATION'S GRANT MAKING ACTIVITIES ARE DIRECTED TO THREE CAUSES AREAS: 1)EDUCATION: TO CLOSE THE OPPORTUNITY GAP AND SUPPORT THE DEVELOPMENT OF THE NEXT GENERATION OF LEADERS THROUGH GRANTS AND CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS THAT CREATE INNOVATIVE PROGRAMS AND INITIATIVES THAT EQUIP STUDENTS WITH THE CRITICAL SKILLS FOR SUCCESS, LAY A SUSTAINABLE FOUNDATION FOR EDUCATIONAL GROWTH AND PROVIDE ACCESS TO COLLEGE AND CAREER PATHWAYS. 2)HUMANITARIANISM: TO PROVIDE ASSISTANCE TO PEOPLE AND COMMUNITIES D

Activities or mission (Part I)

SEE SCHEDULE O

  • GRANTS AND EXPENDITURES TO SUPPORT EDUCATIONAL CHANGE TO HELP CLOSE THE OPPORTUNITY GAP. INCLUDES 525 GRANTS MADE PRIMARILY TO PUBLIC CHARITIES AND OTHER PROGRAM RELATED EXPENDITURES INCURRED FOR EDUCATIONAL CONTENT.

    Expenses $34,282,188 · Grants $31,727,500

  • 131 GRANTS MADE TO PUBLIC CHARITIES AND INDIVIDUALS TO ASSIST VICTIMS OF NATURAL DISASTERS OR EMERGENCY FINANCIAL HARDSHIPS; TO PROVIDE ASSISTANCE TO HEALTH AND WELFARE PROGRAMS AND TO PEOPLE SUFFERING FROM FOOD INSECURITY, DISASTERS, AND EXCLUSION.

    Expenses $4,541,258 · Grants $4,541,258

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Sutphin

    TRUSTEE/PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Jean E Lee

    TREASURER (AS OF 1/24)/TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Christine Freyermuth

    TRS.(THRU 12/23),SEC.(1/24),TR

    Total calculated
    $0
    Hours/week
    5

  • Elizabeth Diep

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Rakesh Bhatia

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeanette Dern

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stacey Empson

    SECRETARY (THRU 12/23)/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Amanda Foster

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rob Gittings

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeanelle Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tracee Jones

    TRUSTEE (AS OF 12/19/23)

    Total calculated
    $0
    Hours/week
    1

  • James Kolar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sameer Melehani

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Maria Moats

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mitchell Roschelle

    TRUSTEE (THRU 3/1/24)

    Total calculated
    $0
    Hours/week
    1

  • Kayvan Shahabi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Martin Chip Sherrill

    TRUSTEE (AS OF 12/19/23)

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

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

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.

  • PwC US Group LLP

    N/A · PUBLIC ACCOUNTING · DE · share of income $0 · share of assets $0

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
23 June 2025
IRS schema version
2023v6.0
Source object
202521769349300737

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

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