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Nonprofiteer
← NOBLEREACH FOUNDATION

Form 990 for tax year 2023

Filed by NOBLEREACH FOUNDATION.

Totals

Total revenue
$63,793,339
Total expenses
$70,843,421
Contributions and grants received
$7,426,233
Grants paid
$0
Program service revenue
$44,573,654
Investment income
$11,708,422
Other revenue
$85,030
Total assets, end of year
$437,956,433
Total liabilities, end of year
$24,003,972
Net assets or fund balances, end of year
$413,952,461
Program services expenses (Part IX)
$61,021,768
Management and general expenses
$9,821,653
Fundraising expenses
$0
Program service expenses (Part III)
$61,021,768

Program services were 86.1% 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.

  • 1e · Government grants (contributions)

    $7,426,233

  • 2a · Program service revenue: CONTRACTED SERVICES

    total $44,573,654 · related or exempt $44,573,654

  • 3 · Investment income

    total $11,075,095 · excluded $11,075,095

  • 7a · Gross sales of assets other than inventory

    securities $61,666,245

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

    securities $61,032,918

  • 7c · Gain or loss

    securities $633,327

  • 7d · Net gain or loss

    total $633,327 · excluded $633,327

  • 11d · All other revenue

    total $85,030 · related or exempt $85,030

  • 11e · Other revenue, total

    $85,030

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $4,930,669 · program services $3,648,986 · management and general $1,281,683

  • 7 · Other salaries and wages

    total $4,917,512 · program services $3,679,342 · management and general $1,238,170

  • 8 · Pension plan contributions

    total $291,856 · program services $167,740 · management and general $124,116

  • 9 · Other employee benefits

    total $572,854 · program services $329,240 · management and general $243,614

  • 10 · Payroll taxes

    total $639,797 · program services $367,715 · management and general $272,082

  • 11b · Fees: legal

    total $784,722 · program services $451,008 · management and general $333,714

  • 11c · Fees: accounting

    total $1,235,588 · management and general $1,235,588

  • 11f · Fees: investment management

    total $684,826 · management and general $684,826

  • 11g · Fees: other

    total $4,092,876 · program services $3,307,053 · management and general $785,823

  • 12 · Advertising and promotion

    total $466,473 · program services $200,152 · management and general $266,321

  • 13 · Office expenses

    total $218,900 · program services $125,810 · management and general $93,090

  • 14 · Information technology

    total $538,786 · program services $363,604 · management and general $175,182

  • 15 · Royalties

    total $158 · program services $158

  • 16 · Occupancy

    total $4,307,120 · program services $2,475,459 · management and general $1,831,661

  • 17 · Travel

    total $215,927 · program services $158,163 · management and general $57,764

  • 19 · Conferences, conventions and meetings

    total $334,655 · program services $193,305 · management and general $141,350

  • 22 · Depreciation, depletion and amortization

    total $1,082,207 · program services $973,200 · management and general $109,007

  • 23 · Insurance

    total $195,099 · program services $112,131 · management and general $82,968

  • 24a · Other expenses: PASSTHROUGH EXPENSES

    total $44,749,180 · program services $44,315,880 · management and general $433,300

  • 24b · Other expenses: DUES

    total $138,252 · program services $79,459 · management and general $58,793

  • 24c · Other expenses: BUSINESS TAXES

    total $48,792 · program services $55,072 · management and general -$6,280

  • 24e · All other expenses

    total $397,172 · program services $18,291 · management and general $378,881

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $49,916,782 · end of year $19,668,407

  • 2 · Savings and temporary cash investments

    beginning of year $6,500,028 · end of year $12,077,143

  • 4 · Accounts receivable

    beginning of year $3,546,992 · end of year $1,106,583

  • 9 · Prepaid expenses and deferred charges

    beginning of year $865,311 · end of year $1,161,411

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

    $4,775,060

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

    $4,208,316

  • 10c · Land, buildings and equipment, net

    beginning of year $487,832 · end of year $566,744

  • 11 · Investments: publicly traded securities

    beginning of year $322,283,652 · end of year $381,218,410

  • 14 · Intangible assets

    beginning of year $24,926,996 · end of year $21,145,003

  • 15 · Other assets

    beginning of year $973,032 · end of year $1,012,732

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,848,526 · end of year $4,308,110

  • 25 · Other liabilities

    beginning of year $22,285,602 · end of year $19,695,862

  • 27 · Net assets without donor restrictions

    beginning of year $383,366,497 · end of year $413,952,461

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

NOBLEREACH'S MISSION IS TO DEVELOP AND MOBILIZE AMERICA'S TOP TALENT AND INNOVATION NETWORKS ACROSS ACADEMIA, INDUSTRY, AND GOVERNMENT FOR HIGH-IMPACT SOLUTIONS THAT STRENGTHEN THE SECURITY AND PROSPERITY OF OUR NATION. OUR VISION IS TO INSPIRE AND CATALYZE A RENEWED SPIRIT OF NATIONAL SERVICE BY UNITING THE BEST AND THE BRIGHTEST MINDS TO SOLVE OUR NATION'S MOST PRESSING CHALLENGES

  • IN 2023, THE COMPANY'S FIRST FULL YEAR OPERATING AS NOBLEREACH, WE LAUNCHED AND BEGAN TO SCALE THREE MAIN AREAS OF PROGRAM SERVICE: ACADEMIC PARTNERSHIPS, INNOVATION, AND TALENT PROGRAMS.ACADEMIC PARTNERSHIPS. NOBLEREACH IS EXPANDING AND DEEPENING ITS ACADEMIC PARTNERSHIPS WITH A DIVERSE RANGE OF COLLEGES AND UNIVERSITIES THROUGH CASE COMPETITIONS, CONVENINGS, AND CURRICULUM OFFERINGS. IN 2023, WE HOSTED ENTREPRENEURSHIP AND PUBLIC SERVICE CASE COMPETITIONS WITH HOWARD UNIVERSITY AND GEORGIA SOUTHERN CASE SCHOOL OF BUSINESS AND ARE DEVELOPING ADDITIONAL PARTNERSHIPS WITH OTHER UNIVERSITIES TO LAUNCH PUBLIC SERVICE-FOCUSED PROGRAMS AND CURRICULA IN 2024.

    Expenses $61,000,094 · Revenue $44,658,684

  • INNOVATION. NOBLEREACH'S PARTNERSHIP WITH THE DEFENSE ADVANCED RESEARCH PROJECTS AGENCY SUCCESSFULLY HELPED COMMERCIALIZE OVER 100 GOVERNMENT-FUNDED TECHNOLOGIES AND VENTURES. OUR PARTNERSHIP WITH THE NATIONAL SCIENCE FOUNDATION'S TECHNOLOGY, INNOVATION, AND PARTNERSHIPS DIRECTORATE HELPED TRANSLATE AND COMMERCIALIZE THE IMPACTFUL WORK OF NEARLY A DOZEN NSF-FUNDED RESEARCHERS.

  • TALENT. NOBLEREACH LAUNCHED ITS FIRST INTERNSHIP PROGRAM - AN EXPERIENTIAL LEARNING OPPORTUNITY TO HELP INSPIRE AND EDUCATE UNDERGRADUATE STUDENTS TO CONSIDER THE PROMISE AND IMPORTANCE OF GOVERNMENT SERVICE AS PART OF A SUCCESSFUL CAREER. IN 2023, WE ALSO BEGAN CREATING THE INFRASTRUCTURE AND RECRUITING TO LAUNCH THE INAUGURAL CLASS OF NOBLEREACH'S SCHOLARS PROGRAM IN AUGUST 2024.

    Expenses $21,674

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

Listed in Part VII

  • Ann Dunwoody

    BOARD DIRECTOR

    Total calculated
    $91,500
    From this org
    $91,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Arun Gupta

    CEO

    Total calculated
    $1,071,401
    From this org
    $1,030,473
    From related orgs
    $0
    Other
    $40,928
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $716,203
    Bonus
    $313,000
    Other
    $1,270
    Deferred
    $23,100
    Nontaxable benefits
    $17,828
    Filer's total
    $1,071,401

  • Constantine Saab

    BOARD DIRECTOR

    Total calculated
    $75,000
    From this org
    $75,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dave McCurdy

    BOARD DIRECTOR

    Total calculated
    $91,500
    From this org
    $91,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Leslie Smith

    BOARD DIRECTOR

    Total calculated
    $75,000
    From this org
    $75,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lisa Disbrow

    BOARD CHAIR

    Total calculated
    $106,500
    From this org
    $106,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Raquel Bono

    BOARD DIRECTOR

    Total calculated
    $75,000
    From this org
    $75,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Dail

    BOARD DIRECTOR

    Total calculated
    $91,500
    From this org
    $91,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Todd Stottlemyer

    BOARD DIRECTOR

    Total calculated
    $75,000
    From this org
    $75,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Pasquale M Tamburrino Jr

    CAO & TREASURER

    Total calculated
    $856,055
    From this org
    $829,667
    From related orgs
    $0
    Other
    $26,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $310,348
    Bonus
    $514,976
    Other
    $4,343
    Deferred
    $23,100
    Nontaxable benefits
    $3,288
    Filer's total
    $856,055

  • Claude Davis

    SVP, FIN.&CONTRACTS

    Total calculated
    $436,493
    From this org
    $377,988
    From related orgs
    $0
    Other
    $58,505
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,284
    Bonus
    $119,441
    Other
    $1,263
    Deferred
    $23,100
    Nontaxable benefits
    $35,405
    Filer's total
    $436,493

  • Linda Bixby

    EVP, ACADEMIC PROG

    Total calculated
    $500,655
    From this org
    $466,070
    From related orgs
    $0
    Other
    $34,585
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,325
    Bonus
    $164,102
    Other
    $3,643
    Deferred
    $23,100
    Nontaxable benefits
    $11,485
    Filer's total
    $500,655

  • Michael Brennan

    OUTGOING CIO/CTO

    Total calculated
    $497,294
    From this org
    $450,777
    From related orgs
    $0
    Other
    $46,517
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,550
    Bonus
    $247,417
    Other
    $810
    Deferred
    $23,100
    Nontaxable benefits
    $23,417
    Filer's total
    $497,294

  • Sharon Hays

    OUTGOING CHIEF RES. OFFICER

    Total calculated
    $873,091
    From this org
    $848,284
    From related orgs
    $0
    Other
    $24,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,642
    Bonus
    $630,127
    Other
    $1,515
    Deferred
    $23,100
    Nontaxable benefits
    $1,707
    Filer's total
    $873,091

  • Charlene Marini

    SR. COMMERCIALIZATION ADVISOR

    Total calculated
    $347,003
    From this org
    $309,353
    From related orgs
    $0
    Other
    $37,650
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,668
    Bonus
    $77,875
    Other
    $810
    Deferred
    $17,660
    Nontaxable benefits
    $19,990
    Filer's total
    $347,003

  • Glenn Gaffney

    FELLOW

    Total calculated
    $627,308
    From this org
    $600,112
    From related orgs
    $0
    Other
    $27,196
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $375,469
    Bonus
    $221,000
    Other
    $3,643
    Deferred
    $23,100
    Nontaxable benefits
    $4,096
    Filer's total
    $627,308

  • Greer Person

    SR. COMMERCIALIZATION ADVISOR

    Total calculated
    $343,093
    From this org
    $323,085
    From related orgs
    $0
    Other
    $20,008
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,233
    Bonus
    $90,375
    Other
    $3,477
    Deferred
    $18,146
    Nontaxable benefits
    $1,862
    Filer's total
    $343,093

  • Petros Kotidis

    SR. COMMERCIALIZATION ADVISOR

    Total calculated
    $376,143
    From this org
    $362,810
    From related orgs
    $0
    Other
    $13,333
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,167
    Bonus
    $110,000
    Other
    $3,643
    Deferred
    $11,367
    Nontaxable benefits
    $1,966
    Filer's total
    $376,143

  • Simon Davidson

    PRESIDENT, NOBLEREACH EMERGE

    Total calculated
    $684,738
    From this org
    $633,291
    From related orgs
    $0
    Other
    $51,447
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $367,167
    Bonus
    $263,750
    Other
    $2,374
    Deferred
    $23,100
    Nontaxable benefits
    $28,347
    Filer's total
    $684,738

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this organization's net earnings

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
  • 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
REGULAR FULL-TIME EMPLOYEES MAY BE ELIGIBLE FOR DISCRETIONARY ANNUAL PERFORMANCE BONUSES. THE PURPOSE OF THESE DISCRETIONARY BONUSES IS TO FOCUS, MOTIVATE, AND REWARD EMPLOYEES FOR THE ACHIEVEMENT OF GOALS AND OUTCOMES THAT, IN THE NEAR TERM, ADVANCE THE COMPANY'S MISSION.
PART I, LINE 6
REGULAR FULL-TIME EMPLOYEES MAY BE ELIGIBLE FOR DISCRETIONARY ANNUAL PERFORMANCE BONUSES. THE PURPOSE OF THESE DISCRETIONARY BONUSES IS TO FOCUS, MOTIVATE, AND REWARD EMPLOYEES FOR THE ACHIEVEMENT OF GOALS AND OUTCOMES THAT, IN THE NEAR TERM, ADVANCE THE COMPANY'S MISSION.

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.

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 corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • THE TAURI GROUP

    C · GOVT CONSULT · DE · 100% owned · controlled entity

    Directly controlled by LOG MNGT INST

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443199349308209

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