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Nonprofiteer
← COEFFICIENT GIVING ACTION FUND

Form 990 for tax year 2023

Filed by COEFFICIENT GIVING ACTION FUND.

Totals

Total revenue
$79,334,487
Total expenses
$77,508,932
Contributions and grants received
$77,706,437
Grants paid
$55,937,881
Program service revenue
$0
Investment income
$1,628,050
Other revenue
$0
Total assets, end of year
$30,728,049
Total liabilities, end of year
$47,424,065
Net assets or fund balances, end of year
-$16,696,016
Program services expenses (Part IX)
$77,131,644
Management and general expenses
$377,288
Fundraising expenses
$0
Program service expenses (Part III)
$77,131,644

Program services were 99.5% 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.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $77,706,437

  • 1g · Noncash contributions included above

    $77,706,437

  • 3 · Investment income

    total $1,964,462 · excluded $1,964,462

  • 7a · Gross sales of assets other than inventory

    securities $77,370,025

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

    securities $77,706,437

  • 7c · Gain or loss

    securities -$336,412

  • 7d · Net gain or loss

    total -$336,412 · excluded -$336,412

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,709,060 · program services $35,709,060

  • 2 · Grants to domestic individuals

    total $2,919,370 · program services $2,919,370

  • 3 · Grants to foreign organizations and individuals

    total $17,309,451 · program services $17,309,451

  • 11b · Fees: legal

    total $68,970 · program services $49,904 · management and general $19,066

  • 11c · Fees: accounting

    total $26,670 · management and general $26,670

  • 11g · Fees: other

    total $20,758,178 · program services $20,758,178

  • 13 · Office expenses

    total $1,362 · program services $312 · management and general $1,050

  • 23 · Insurance

    total $15,523 · management and general $15,523

  • 24a · Other expenses: GRANTEE PROJECT/TAX EXP

    total $385,369 · program services $385,369

  • 24b · Other expenses: TAX ON 527 EXPENDITURES

    total $314,979 · management and general $314,979

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $131,294 · end of year $503,964

  • 2 · Savings and temporary cash investments

    beginning of year $29,036,604 · end of year $28,810,591

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,812,810 · end of year $1,413,494

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,752,594 · end of year $501,321

  • 18 · Grants payable

    beginning of year $47,539,706 · end of year $46,607,765

  • 25 · Other liabilities

    beginning of year $209,979 · end of year $314,979

  • 27 · Net assets without donor restrictions

    beginning of year -$18,521,571 · end of year -$16,696,016

Mission and programs · 2023

Mission

THE MISSION OF OPEN PHILANTHROPY ACTION FUND IS TO STUDY AND PROMOTE MORE EFFECTIVE GIVING FOR PUBLIC POLICY, ADVOCACY AND SOCIAL WELFARE PURPOSES. THE ORGANIZATION SEEKS TO MAXIMIZE THE IMPACT THAT PHILANTHROPIC GIVING CAN HAVE ON PUBLIC POLICY AND FURTHER SOCIAL WELFARE. THROUGH RESEARCH, EDUCATION, ADVOCACY AND GRANTMAKING, THE ORGANIZATION ALSO SEEKS TO BRING ABOUT IMPROVEMENT IN SELECT PUBLIC POLICY AREAS. THE ORGANIZATION PROMOTES THE GENERAL WELFARE OF INDIVIDUALS AND THEIR COMMUNITIES BY SUPPORTING MORE EFFECTIVE FORMS OF PHILANTHROPIC GIVING IN THE PUBLIC POLICY ARENA AND FOR SOCIAL WELFARE CAUSES, AND BY ADVOCATING FOR BENEFICIAL CHANGES IN PUBLIC POLICY.

Activities or mission (Part I)

STUDY AND PROMOTE MORE EFFECTIVE GIVING FOR PUBLIC POLICY, ADVOCACY AND SOCIAL WELFARE PURPOSES

  • THE ORGANIZATION MADE GRANTS TO SECTION 501(C)(3) CHARITIES, SECTION 501(C)(4) SOCIAL WELFARE ORGANIZATIONS AND OTHER TYPES OF ENTITIES FOR GENERAL SUPPORT OR SPECIFIC PROJECTS CONSISTENT WITH THE ORGANIZATION'S GOALS. THE ORGANIZATION MADE DISTRIBUTIONS TO RESEARCH AND EFFECT CHANGE IN THE FOCUS AREAS WITHIN ITS MISSION AND IN OTHER PUBLIC POLICY AREAS IN WHICH IT DETERMINED THAT SUCH FUNDS CAN HAVE A SIGNIFICANT IMPACT. WITH FUNDS FROM THE ORGANIZATION, GRANTEES AND CONTRACTORS MAY CONDUCT A RANGE OF ACTIVITIES, INCLUDING RESEARCH, PUBLIC EDUCATION AND ADVOCACY, AND DIRECT OR GRASSROOTS LOBBYING, ALL FOR THE PURPOSE OF PROMOTING SOCIAL WELFARE.

    Expenses $77,131,644 · Grants $55,937,881

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

Listed in Part VII

  • Cari Tuna

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1.5 related

  • Alexander Berger

    CEO/DIRECTOR (CO-CEO THRU 7/23/23)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Holden Karnofsky

    DIRECTOR (CO-CEO THRU 7/23/23)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Divesh Makan

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • Dustin Moskovitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • Tom Van Loben Sels

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349313635

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

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