Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $492,081

• 1e · Government grants (contributions)

  $1,537,610

• 1f · All other contributions, gifts and grants

  $12,279,813

• 1g · Noncash contributions included above

  $124,399

• 2a · Program service revenue: EDUCATION FEES

  total $361,061 · related or exempt $361,061

• 2b · Program service revenue: FARECHECK PROGRAM

  total $180,849 · related or exempt $180,849

• 2c · Program service revenue: RESEARCH FEES

  total $172,540 · related or exempt $172,540

• 2d · Program service revenue: EDUCATION COURSE REGISTRATIONS

  total $58,960 · related or exempt $58,960

• 3 · Investment income

  total $1,096,572 · excluded $1,096,572

• 7a · Gross sales of assets other than inventory

  securities $8,250,000

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

  securities $8,245,103

• 7c · Gain or loss

  securities $4,897

• 7d · Net gain or loss

  total $4,897 · excluded $4,897

• 8a · Fundraising events: gross income

  $431,323

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

  $492,081

• 8b · Fundraising events: direct expenses

  $431,323

• 8c · Net income from fundraising events

  total $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,508,926 · program services $3,508,926

• 2 · Grants to domestic individuals

  total $7,985 · program services $7,985

• 3 · Grants to foreign organizations and individuals

  total $281,362 · program services $281,362

• 5 · Compensation of officers, directors and key employees

  total $1,714,619 · program services $1,117,227 · management and general $597,392

• 7 · Other salaries and wages

  total $6,846,400 · program services $4,461,588 · management and general $981,335 · fundraising $1,403,477

• 8 · Pension plan contributions

  total $262,674 · program services $168,473 · management and general $39,399 · fundraising $54,802

• 9 · Other employee benefits

  total $849,412 · program services $535,389 · management and general $181,501 · fundraising $132,522

• 10 · Payroll taxes

  total $581,861 · program services $343,804 · management and general $146,736 · fundraising $91,321

• 11b · Fees: legal

  total $132,290 · program services $36,220 · management and general $96,070

• 11c · Fees: accounting

  total $38,636 · management and general $38,636

• 11d · Fees: lobbying

  total $15,200 · program services $15,200

• 11e · Fees: professional fundraising services

  total $274,009 · fundraising $274,009

• 11g · Fees: other

  total $503,145 · program services $395,351 · management and general $79,914 · fundraising $27,880

• 12 · Advertising and promotion

  total $449,662 · program services $340,796 · management and general $591 · fundraising $108,275

• 13 · Office expenses

  total $487,106 · program services $146,492 · management and general $27,533 · fundraising $313,081

• 14 · Information technology

  total $791,432 · program services $604,862 · management and general $43,250 · fundraising $143,320

• 16 · Occupancy

  total $448,174 · program services $315,989 · management and general $47,190 · fundraising $84,995

• 19 · Conferences, conventions and meetings

  total $1,804,756 · program services $1,724,158 · management and general $11,575 · fundraising $69,023

• 22 · Depreciation, depletion and amortization

  total $69,915 · management and general $69,915

• 23 · Insurance

  total $15,996 · program services $10,336 · management and general $3,036 · fundraising $2,624

• 24a · Other expenses: BAD DEBT

  total $285,147 · program services $10,000 · fundraising $275,147

• 24b · Other expenses: PUBLICATION & EDUC.

  total $187,101 · program services $187,101

• 24c · Other expenses: CLINICAL STUDIES

  total $171,624 · program services $171,624

• 26 · Joint costs (an allocation of the lines above)

  total $637,572 · program services $411,982 · management and general $121,009 · fundraising $104,581

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,112,952 · end of year $2,873,378

• 2 · Savings and temporary cash investments

  beginning of year $2,014,226 · end of year $21,862

• 3 · Pledges and grants receivable

  beginning of year $5,000,572 · end of year $7,472,230

• 4 · Accounts receivable

  beginning of year $111,859 · end of year $52,539

• 9 · Prepaid expenses and deferred charges

  beginning of year $289,702 · end of year $190,935

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

  $513,488

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

  $500,288

• 10c · Land, buildings and equipment, net

  beginning of year $83,115 · end of year $13,200

• 11 · Investments: publicly traded securities

  beginning of year $26,622,148 · end of year $20,467,705

• 15 · Other assets

  beginning of year $222,567 · end of year $276,960

• 17 · Accounts payable and accrued expenses

  beginning of year $1,091,320 · end of year $559,550

• 18 · Grants payable

  beginning of year $6,762,408 · end of year $1,805,714

• 19 · Deferred revenue

  beginning of year $50,000 · end of year $7,500

• 25 · Other liabilities

  beginning of year $270,952 · end of year $256,633

• 27 · Net assets without donor restrictions

  beginning of year $20,911,084 · end of year $19,070,485

• 28 · Net assets with donor restrictions

  beginning of year $11,371,377 · end of year $9,668,927

The filer's explanations (Part III)

PART I, LINE 4A

DURING THE YEAR ENDED DECEMBER 31, 2023, BRUCE ROBERTS, FARE'S CHIEF RESEARCH OFFICER UNTIL MARCH OF 2023, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $305,466.