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Nonprofiteer
← ROBERT A TOIGO FOUNDATION

Form 990 for tax year 2023

Filed by ROBERT A TOIGO FOUNDATION.

Totals

Total revenue
$3,194,233
Total expenses
$4,756,575
Contributions and grants received
$2,756,881
Grants paid
$180,500
Program service revenue
$827,074
Investment income
$74,371
Other revenue
-$464,093
Total assets, end of year
$5,555,939
Total liabilities, end of year
$562,641
Net assets or fund balances, end of year
$4,993,298
Program services expenses (Part IX)
$3,793,692
Management and general expenses
$530,957
Fundraising expenses
$431,926
Program service expenses (Part III)
$3,793,692

Program services were 79.8% 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.

  • 1c · Fundraising events

    $1,368,991

  • 1f · All other contributions, gifts and grants

    $1,387,890

  • 2a · Program service revenue: TOIGO INSTITUTE & PROF SERVICES

    total $246,566 · related or exempt $246,566

  • 2b · Program service revenue: EDUCATION

    total $55,900 · related or exempt $55,900

  • 2c · Program service revenue: CAREER & TALENT SERVICES

    total $524,608 · related or exempt $524,608

  • 3 · Investment income

    total $74,371 · unrelated business $0 · excluded $74,371

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $428,400

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

    $1,368,991

  • 8b · Fundraising events: direct expenses

    $892,493

  • 8c · Net income from fundraising events

    total -$464,093 · excluded -$464,093

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $180,500 · program services $180,500

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $464,793 · program services $282,801 · management and general $80,065 · fundraising $101,927

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $733,239 · program services $450,728 · management and general $118,720 · fundraising $163,791

  • 8 · Pension plan contributions

    total $13,583 · program services $7,644 · management and general $4,839 · fundraising $1,100

  • 9 · Other employee benefits

    total $47,279 · program services $24,601 · management and general $16,844 · fundraising $5,834

  • 10 · Payroll taxes

    total $78,357 · program services $40,774 · management and general $27,915 · fundraising $9,668

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $705 · program services $383 · management and general $206 · fundraising $116

  • 11c · Fees: accounting

    total $171,197 · program services $93,096 · management and general $50,050 · fundraising $28,051

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $396,687 · program services $213,431 · management and general $120,764 · fundraising $62,492

  • 12 · Advertising and promotion

    total $3,249 · program services $3,249

  • 13 · Office expenses

    total $24,881 · program services $15,844 · management and general $6,454 · fundraising $2,583

  • 14 · Information technology

    total $212,774 · program services $115,707 · management and general $62,204 · fundraising $34,863

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $165,342 · program services $145,596 · management and general $19,026 · fundraising $720

  • 17 · Travel

    total $346,155 · program services $340,710 · management and general $4,845 · fundraising $600

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $632,905 · program services $624,728 · management and general $8,177

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $15,236 · program services $9,310 · management and general $3,488 · fundraising $2,438

  • 23 · Insurance

    total $19,220 · program services $15,339 · management and general $3,071 · fundraising $810

  • 24a · Other expenses: PROGRAM AND EVENT SERVICE FEE

    total $1,249,029 · program services $1,229,213 · management and general $2,883 · fundraising $16,933

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $1,004 · program services $38 · management and general $966

  • 24c · Other expenses: FILING FEE

    total $440 · management and general $440

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,321,621 · end of year $912,462

  • 2 · Savings and temporary cash investments

    beginning of year $3,075,322 · end of year $3,284,605

  • 3 · Pledges and grants receivable

    beginning of year $1,170,958 · end of year $666,127

  • 4 · Accounts receivable

    beginning of year $22,850 · end of year $1,500

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $120,242 · end of year $331,672

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

    $511,828

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

    $472,513

  • 10c · Land, buildings and equipment, net

    beginning of year $48,798 · end of year $39,315

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $470,513 · end of year $320,258

  • 17 · Accounts payable and accrued expenses

    beginning of year $152,214 · end of year $190,998

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $28,180 · end of year $36,134

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $493,347 · end of year $335,509

  • 27 · Net assets without donor restrictions

    beginning of year $5,065,257 · end of year $4,496,334

  • 28 · Net assets with donor restrictions

    beginning of year $1,491,306 · end of year $496,964

Mission and programs · 2023

Mission

TOIGO DEVELOPS LEADERS AND FOSTERS THE CAREER ADVANCEMENT OF HIGHLY TALENTED WOMEN AND MEN THROUGHOUT THEIR MBA EXPERIENCE. OUR NEARLY 2,000 TOIGO ALUMNI ARE THE FOUNDATION ON WHICH WE HAVE BUILT PROGRAMMING TO SUPPORT THE CAREER ASCENSION AND RETENTION OF TOMORROW'S FINANCE LEADERS. THE GATEWAY TO THIS EXPERIENCE IS THE FOUNDATION'S HIGHLY-REGARDED MBA FELLOWSHIP PROGRAM, WHICH IDENTIFIES YOUNG PROFESSIONALS AT THIS STAGE OF ACADEMIC CAREER WHO DEMONSTRATE THE GREATEST LEADERSHIP POTENTIAL, WHO SEEK TO CONTRIBUTE AND MAKE POSITIVE IMPACT IN THEIR FINANCE CAREERS AND THEIR COMMUNITIES. THE FOUNDATION'S PROGRAMMING OFFERS LEADERSHIP ASSESSMENT AND DEVELOPMENT TRAINING, INDUSTRY EDUCATION, AND CAREER SUPPORT THROUGHOUT THE DURATION OF FELLOWS' MBA PROGRAMS AND, ONGOING AS TOIGO ALUMNI ASCEND IN THEIR POST-GRADUATION CAREERS. FURTHER, OUR WORK PROMOTES THE MERITS OF INCLUSION TO ONE OF THE NATION'S MOST VITAL INDUSTRIES - FINANCE AND TO ASSOCIATED FIELDS WHERE OUR TALENT IS LEVERAGING IMP

Activities or mission (Part I)

TO INSPIRE CHANGE AND ADVANCE MORE INCLUSIVE LEADERSHIP IN FINANCE AND BEYOND.

  • EDUCATION: SELECTION & RECRUITMENT & MBA PROGRAMMING: By demand of students and the employer community, Toigo hosted its MBA programming events through the return of three in-person convenings covering industry education, leadership development assessment and workshops, career management coaching, and a new series of Learning Intensives across the alternative investment sector(s). Students were able to participate in uniquely designed 6 month experiences to get a deeper understanding of investment philosophy, strategies, skill competencies for careers within real estate, impact investing, venture capital and private equity. Applications for 2023 presented another impressive group of high potential leaders. The Foundation invested in an improved platform for evaluating candidates including virtual interviews and tools to assess coachability as a core component of our leadership development curriculum and career management service. Expenditures within the MBA program area increased in 2023 as a result of these program enhancements and new offerings to more than 200 next generation leaders. Toigo's programming is anchored by best in class trainers, consultants, noted academics and online learning and assessment platforms. Further the return to in-person events and cost related to bringing these outstanding young professionals together is reflected in the expenses and ensures the high quality of the Toigo MBA program experience and building a sense of community.

    Expenses $2,184,527 · Grants $180,500 · Revenue $361,090

  • Institute Programming: Toigo institute programming focused on the continued development of post graduate learning content through advanced career coaching and introduction of specialized programs. The foundation expenditures in this area included revamp and or development of new online platforms available for participants as well as corporate partners in the process of content delivery asynchronous learning and job opportunity posting and talent access. Additionally our groundbreakers initiative was expanded to include two new offerings that focused on career development and leadership positioning, one being an online offering with sessions throughout the year and the second being an in person leadership program for women at the mid career level. The annual summit continues to welcome more than 200 attendees for our one day program featuring noted academics best in class trainers and firm leadership. Within the context of leadership and alumni advancement, the foundation either directly or through collaborative partnerships introduced several opportunities to amplify the career talents of those supported by the program. Costs related to this area included attendance at conferences, creation of articles, and talent features and the participation of Toigo alumni in our leadership curriculum as trainers for future generations. Given the dynamic nature of the employment landscape the foundation also increased resources for career coaching and support for those professionals in job transition or seeking to leverage their past experience for increased opportunities. Lastly the foundation hosted industry convenings to discuss topics that are core to the foundation's mission around education career advancement, inclusion equity and leadership. Bringing together nearly 200 professionals to not only exchange ideas but to be audience to leaders who present dynamic perspective on the industry overall and how Toigo plays an invaluable role as a partner for change.

    Expenses $1,359,296 · Revenue $277,419

  • Professional Services: The Foundation expanded its talent management platform to align with new and or improved services available to our corporate partners to take full advantage of promoting job opportunities and/or multiple access points to the Toigo talent population. Time invested in the design, marketing and promotion of these services is reflected in this expense. As well our elevated service included new tools for job seekers to share their career goals, learn of new opportunities and corporate partnerships via webinars and improved internal communication platforms were an important part of the service. Specifically for the student population, ongoing development of the 12 Twenty online platform presented enhanced profiles of students and the facility to firms to host sessions, share opportunities and make direct connections to students for summer internships, collaborative partner employment opportunities, design of internship models and to provide full service support to organizations, as required.

    Expenses $249,869 · Revenue $188,565

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

Listed in Part VII

  • NANCY A SIMS

    PRESIDENT

    Total calculated
    $464,793
    From this org
    $440,046
    From related orgs
    $0
    Other
    $24,747
    Hours/week
    70

    Schedule J breakdown matched by us

    Base
    $338,589
    Bonus
    $70,000
    Other
    $31,457
    Deferred
    $0
    Nontaxable benefits
    $24,747
    Filer's total
    $464,793

  • SHAKEEL BHATIA

    DONOR RELATIONS MANAGER

    Total calculated
    $180,954
    From this org
    $166,957
    From related orgs
    $0
    Other
    $13,997
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $36,957
    Other
    $0
    Deferred
    $6,636
    Nontaxable benefits
    $7,361
    Filer's total
    $180,954

  • SHANNON HOWELL

    DIRECTOR OF TALENT ACCESS

    Total calculated
    $141,034
    From this org
    $131,250
    From related orgs
    $0
    Other
    $9,784
    Hours/week
    40

  • TREVOR WELCH

    SENIOR PROGRAMMING COORDINATOR

    Total calculated
    $121,296
    From this org
    $114,717
    From related orgs
    $0
    Other
    $6,579
    Hours/week
    40

  • MATTHEW JOHNSON

    SENIOR ASSOCIATE

    Total calculated
    $114,691
    From this org
    $101,181
    From related orgs
    $0
    Other
    $13,510
    Hours/week
    40

  • MARK MCCOMBE

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • KELLY WILLIAMS

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • JAY FERGUSON

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • DHVANI SHAH

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • SUE TOIGO FOUNDER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MARK ANSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JASE AUBY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • DOSTON BRADLEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • KEITH CAHILL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MARY CAHILL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • SCOTT CHAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN CLAISSE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL DELANEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • TED ELIOPOLOUS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOSE E FELICIANO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOSE FERNANDEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • FRAN HIGGINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • STEPHANIE IVY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • KATHRYN KOCH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • BRYAN LEWIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • EDWARD LEWIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • TANAKA MASWAOSWE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • BARRY MILLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOSE MINAYA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JANICE COOK ROBERTS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MARCOS RODRIGUEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • STEVE VOSS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JAMES WILLIAMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JAMES ZELTER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413189349306431

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