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← CONRAD FOUNDATION

Form 990 for tax year 2023

Filed by CONRAD FOUNDATION.

Totals

Total revenue
$530,315
Total expenses
$414,065
Contributions and grants received
$357,576
Grants paid
$37,089
Program service revenue
$168,719
Investment income
$4,020
Other revenue
$0
Total assets, end of year
$340,054
Total liabilities, end of year
$11,158
Net assets or fund balances, end of year
$328,896
Program services expenses (Part IX)
$367,265
Management and general expenses
$43,050
Fundraising expenses
$3,750
Program service expenses (Part III)
$367,265

Program services were 88.7% 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

    $357,576

  • 1g · Noncash contributions included above

    $167,066

  • 2a · Program service revenue: EVENT REGISTRATION FEE

    total $155,348 · related or exempt $155,348

  • 2b · Program service revenue: LICENSING INCOME

    total $10,371 · related or exempt $10,371

  • 2c · Program service revenue: SPONSOR AWARDS REIMBUR

    total $3,000 · related or exempt $3,000

  • 3 · Investment income

    total $4,020 · related or exempt $4,020

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $37,089 · program services $37,089

  • 11a · Fees: management

    total $195,000 · program services $195,000

  • 11c · Fees: accounting

    total $30,186 · program services $2,007 · management and general $28,179

  • 11e · Fees: professional fundraising services

    total $3,750 · fundraising $3,750

  • 11g · Fees: other

    total $102,342 · program services $102,340 · management and general $2

  • 13 · Office expenses

    total $129 · management and general $129

  • 16 · Occupancy

    total $545 · management and general $545

  • 17 · Travel

    total $25,959 · program services $22,725 · management and general $3,234

  • 23 · Insurance

    total $1,500 · management and general $1,500

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,767 · program services $4,560 · management and general $1,207

  • 24b · Other expenses: PROFESSIONAL FEES

    total $5,657 · management and general $5,657

  • 24c · Other expenses: WEB HOSTING AND INTERNE

    total $4,418 · program services $2,878 · management and general $1,540

  • 24d · Other expenses: LEGAL FEES

    total $1,511 · program services $643 · management and general $868

  • 24e · All other expenses

    total $212 · program services $23 · management and general $189

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $222,102 · end of year $137,532

  • 4 · Accounts receivable

    beginning of year $1,996 · end of year $998

  • 8 · Inventories for sale or use

    beginning of year $68,547 · end of year $201,524

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

    $6,250

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

    $6,250

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,000 · end of year $455

  • 25 · Other liabilities

    beginning of year $0 · end of year $10,703

  • 27 · Net assets without donor restrictions

    beginning of year $152,645 · end of year $282,013

  • 28 · Net assets with donor restrictions

    beginning of year $90,000 · end of year $46,883

Mission and programs · 2023

Mission

SEE SCHEDULE O FOR ORGANIZATION'S EXPANDED MISSION STATEMENT.

Activities or mission (Part I)

SEE SCHEDULE O FOR THE ORGANIZATION MISSION.

  • THE CONRAD FOUNDATION'S CONRAD CHALLENGE BRINGS TOGETHER A DYNAMIC COMMUNITY OF INNOVATORS AND ENTREPRENEURS DRIVING A COLLABORATIVE MOVEMENT TO DEVELOP EXTRAORDINARY AND VIABLE SOLUTIONS TO BENEFIT OUR WORLD IN ONE OF FOUR AREAS: AEROSPACE & AVIATION, CYBER TECHNOLOGY & SECURITY, ENERGY & ENVIRONMENT, AND HEALTH & NUTRITION. THE ANNUAL BUSINESS AND TECHNICAL PLAN COMPETITION CHALLENGES TEAMS OF STUDENTS AGES 13-18 TO COMBINE INNOVATION AND ENTREPRENEURSHIP, ALONG WITH STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH), TO CREATE COMMERCIALLY-VIABLE PRODUCTS. THE CONRAD CHALLENGE REACHES ALL SOCIO-ECONOMIC LEVELS.

    Expenses $367,265 · Grants $37,089 · Revenue $172,739

As filed on the 2023 return.

Listed in Part VII

  • Nancy Conrad

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    40

  • Nicolas Costides

    PRESIDENT & DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Andy Steinem

    TREASURER & DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Laura Peter

    SECRETARY & DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jack Griem

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Craig Gelfound

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ron Gross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Akhil Jariwala

    DIRECTOR

    Total calculated
    $0
    Hours/week
    20

  • Andrea Lee-Zucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Regina Schofield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Simon Glinsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Joseph H Rothenberg

    FORMER OFFICER & DIR

    Total calculated
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    not reported

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 August 2024
IRS schema version
2023v5.1
Source object
202402349349300845

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