Form 990 for tax year 2023

Totals

Total revenue

$896,007

Total expenses

$1,096,070

Contributions and grants received

$888,946

Grants paid

$0

Program service revenue

$12,011

Investment income

$1,749

Other revenue

-$6,699

Total assets, end of year

$617,284

Total liabilities, end of year

$477,112

Net assets or fund balances, end of year

$140,172

Program services expenses (Part IX)

$1,047,204

Management and general expenses

$41,522

Fundraising expenses

$7,344

Program service expenses (Part III)

$1,047,204

Program services were 95.5% 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.

Mission and programs · 2023

• THE PETE DU PONT FREEDOM FOUNDATION SERVES AS AN ENTREPRENEURIAL INCUBATOR BY PROVIDING A PLATFORM FOR INDIVIDUALS TO PRESENT IDEAS THAT WILL CREATE JOBS AND IMPROVE DELAWARE. THROUGH ITS REINVENTING DELAWARE PROGRAM, WHICH BEGAN IN 2014; THE PUBLIC, FOUNDATION MEMBERS, SUPPORTERS, AND THE BUSINESS COMMUNITY SUBMIT IDEAS TO THE FOUNDATION FOR CONSIDERATION. IDEA SUBMITTERS ARE INVITED TO PRESENT THEIR IDEAS AT AN ANNUAL DINNER EVENT, WHICH INCLUDES KEY MEMBERS OF THE DELAWARE BUSINESS AND LEADERSHIP COMMUNITY. IN TOTAL, 100 INDIVIDUALS ATTEND THE EVENT AND PRESENT IDEAS. THE FOUNDATION PROVIDES THE TOP IDEAS FROM THE REINVENTING DELAWARE DINNER THE FOLLOWING RESOURCES TO ASSIST IN ULTIMATELY LAUNCHING, CREATING JOBS AND IMPROVING DELAWARE: -SIX MONTHS OF PROFESSIONAL BUSINESS REFINEMENT, DEVELOPMENT AND MENTOR SERVICES IN PARTNERSHIP WITH THIRD PARTY FACILITATORS-SPOTLIGHT ARTICLES IN THE DELAWARE BUSINESS TIMES (ONLINE AND PRINT)-PROMOTION AND VISIBILITY THROUGH FOUNDATION SOCIAL MEDIA AND WEBSITE CHANNELS-PROFESSIONAL VIDEO SPOTLIGHT FOR PROGRAM FINALISTS-EXHIBITION OPPORTUNITY AT THE ANNUAL PETE DU PONT FREEDOM AWARD EVENT FOR PROGRAM FINALISTS-MONETARY AWARD FOR THE IDEA THAT CAN MAKE THE MOST IMPACT ON DELAWARE

  Expenses $151,494 · Revenue $12,011

• THE EQUITABLE ENTREPRENEURIAL ECOSYSTEM (E3) INITIATIVE IS DRIVEN BY THE FOUNDATION'S FOCUS ON REMOVING BARRIERS TO INNOVATION AND ITS STRONG BELIEF THAT GREAT IDEAS AND ENTREPRENEURSHIP CAN OCCUR THROUGHOUT SOCIETY. E3 IS AN AMBITIOUS INITIATIVE, WITH THE GOAL OF BECOMING DELAWARE'S LEADING ENTREPRENEURIAL INCUBATOR AND ACCELERATOR BY CREATING AN INNOVATIVE ECOSYSTEM THAT IDENTIFY, NURTURE, AND ULTIMATELY LEAD TO SUCCESSFUL BUSINESSES FOR DELAWARE'S FUTURE. E3 COMPLEMENTS AND WORKS IN TANDEM WITH REINVENTING DELAWARE, WORKING TO CREATE THE CONDITIONS FOR SUCCESSFUL ENTREPRENEURS AND INNOVATORS ACROSS ALL COMMUNITIES, WITH A PARTICULAR FOCUS ON UNDERREPRESENTED ENTREPRENEURS. E3 ATTEMPTS TO BUILD CITY-WIDE STRATEGIC COALITIONS DESIGNED TO IDENTIFY, VET, INCUBATE, AND ACCELERATE THE LAUNCH OF NEW BUSINESSES.

  Expenses $816,375

• HBCU INNOVATIVE SOLUTIONS INITIATIVE- THE ORGANIZATION PARTNERED WITH BANK OF AMERICA AND DELAWARE STATE UNIVERSITY TO INTEGRATE THEIR REINVENTING PROGRAM AND PROCESS INTO THE 13TH ANNUAL PHILANTHROPY SYMPOSIUM, WHICH HOSTS OVER 30 HBCU REPRESENTATIVES FROM ACROSS THE COUNTRY. A $100,000 GRANT WAS RECEIVED IN 2022 TO LAUNCH THE INITIATIVE IN JULY 2023. A COMMITTEE HELD A MEETING TO REVIEW ALL OF THE IDEA PROPOSALS SUBMITTED FOR THE INITIATIVE AND SELECTED NINE TO MOVE FORWARD TO THE FIRST PHASE OF THE PROCESS TO RECEIVE IN-KIND CONSULTING SUPPORT VALUED AT UP TO $5,000 PER PROPOSAL. THE COMMITTEE RECONVENES TO SELECT FOUR FINALISTS WHO WILL RECEIVE AN ADDITIONAL SUITE OF IN-KIND SUPPORT VALUED AT UP TO $20,000 EACH. FINALLY, THE COMMITTEE WILL MEET TO SELECT ONE WINNER TO RECEIVE A $10,000 CASH GRANT TO CONTINUE MOVING THE IDEA FORWARD. THE WINNER WILL BE ANNOUNCED AT THE 14TH ANNUAL PHILANTHROPY SYMPOSIUM.

  Expenses $79,335

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

Listed in Part VII

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

No itemized grants to organizations on this return.

Provenance

Return type

form_990

Tax year

2023

Filed

24 August 2024

IRS schema version

2023v5.1

Source object

202403059349300025

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

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