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Nonprofiteer
← VANGUARD CHARITABLE ENDOWMENT PROGRAM

Form 990 for tax year 2023

Filed by VANGUARD CHARITABLE ENDOWMENT PROGRAM.

Totals

Total revenue
$6,410,999,905
Total expenses
$3,093,447,365
Contributions and grants received
$5,747,045,424
Grants paid
$3,057,423,430
Program service revenue
$0
Investment income
$663,954,481
Other revenue
$0
Total assets, end of year
$22,173,441,530
Total liabilities, end of year
$94,163,491
Net assets or fund balances, end of year
$22,079,278,039
Program services expenses (Part IX)
$3,083,313,483
Management and general expenses
$6,387,566
Fundraising expenses
$3,746,316
Program service expenses (Part III)
$3,083,313,483

Program services were 99.7% 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

    $5,747,045,424

  • 1g · Noncash contributions included above

    $3,554,915,044

  • 3 · Investment income

    total $599,927,617 · unrelated business $1,277,922 · excluded $598,649,695

  • 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

  • 7a · Gross sales of assets other than inventory

    securities $6,017,560,692

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

    securities $5,953,533,828

  • 7c · Gain or loss

    securities $64,026,864

  • 7d · Net gain or loss

    total $64,026,864 · excluded $64,026,864

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 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 $3,047,565,271 · program services $3,047,565,271

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $9,858,159 · program services $9,858,159

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $2,207,979 · program services $1,322,951 · management and general $543,281 · fundraising $341,747

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $9,096,361 · program services $5,450,251 · management and general $2,238,191 · fundraising $1,407,919

  • 8 · Pension plan contributions

    total $1,209,441 · program services $724,659 · management and general $297,587 · fundraising $187,195

  • 9 · Other employee benefits

    total $1,524,685 · program services $913,543 · management and general $375,154 · fundraising $235,988

  • 10 · Payroll taxes

    total $777,938 · program services $466,116 · management and general $191,414 · fundraising $120,408

  • 11a · Fees: management

    total $1,604,151 · program services $1,195,415 · management and general $67,529 · fundraising $341,207

  • 11b · Fees: legal

    total $244,925 · program services $78,406 · management and general $147,828 · fundraising $18,691

  • 11c · Fees: accounting

    total $139,497 · management and general $139,497

  • 11d · Fees: lobbying

    total $446,789 · management and general $446,789

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $457,299 · program services $286,915 · management and general $7,594 · fundraising $162,790

  • 12 · Advertising and promotion

    total $281,213 · program services $112,485 · management and general $28,121 · fundraising $140,607

  • 13 · Office expenses

    total $208,000 · program services $183,051 · management and general $21,666 · fundraising $3,283

  • 14 · Information technology

    total $14,324,451 · program services $13,070,469 · management and general $885,372 · fundraising $368,610

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $2,145,751 · program services $1,587,856 · management and general $343,320 · fundraising $214,575

  • 17 · Travel

    total $98,702 · program services $32,418 · management and general $31,702 · fundraising $34,582

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $46,797 · program services $13,198 · management and general $4,208 · fundraising $29,391

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $163,643 · management and general $163,643

  • 24a · Other expenses: TEMPORARY HELP

    total $475,778 · program services $348,138 · management and general $41,362 · fundraising $86,278

  • 24b · Other expenses: PROFESSIONAL DEVELOPMENT

    total $134,936 · program services $14,651 · management and general $120,039 · fundraising $246

  • 24c · Other expenses: EMPLOYMENT HIRING COSTS

    total $119,753 · program services $36,980 · management and general $62,701 · fundraising $20,072

  • 24d · Other expenses: BOARD OF TRUSTEES COSTS

    total $121,454 · management and general $121,454

  • 24e · All other expenses

    total $194,392 · program services $52,551 · management and general $109,114 · fundraising $32,727

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $44,172,159 · end of year $55,152,429

  • 3 · Pledges and grants receivable

    beginning of year $55,000,000 · end of year $21,008,312

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $4,621,930 · end of year $7,040,937

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

    $4,932,410

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

    $4,932,410

  • 11 · Investments: publicly traded securities

    beginning of year $14,833,666,912 · end of year $20,089,811,230

  • 12 · Investments: other securities

    beginning of year $1,688,058,940 · end of year $1,595,959,589

  • 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 $388,607,988 · end of year $404,469,033

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,696,703 · end of year $21,312,297

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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 $17,540,452 · end of year $72,851,194

  • 27 · Net assets without donor restrictions

    beginning of year $16,975,890,774 · end of year $22,079,278,039

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO INCREASE PHILANTHROPY AND MAXIMIZE ITS IMPACT OVER TIME.

  • SEE SCHEDULE O

    Expenses $3,083,313,483 · Grants $3,057,423,430

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

Listed in Part VII

  • Rebecca Moffett

    PRESIDENT

    Total calculated
    $498,196
    From this org
    $423,545
    From related orgs
    $0
    Other
    $74,651
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $368,545
    Bonus
    $55,000
    Other
    $0
    Deferred
    $49,500
    Nontaxable benefits
    $25,151
    Filer's total
    $498,196

  • Ann L Gill

    CHIEF PHILANTHROPIC OFFICER

    Total calculated
    $377,742
    From this org
    $317,778
    From related orgs
    $0
    Other
    $59,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $282,716
    Bonus
    $35,062
    Other
    $0
    Deferred
    $48,423
    Nontaxable benefits
    $11,541
    Filer's total
    $377,742

  • Mark Froehlich

    CHIEF FINANCIAL OFFICER

    Total calculated
    $349,759
    From this org
    $293,331
    From related orgs
    $0
    Other
    $56,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,221
    Bonus
    $39,110
    Other
    $0
    Deferred
    $46,062
    Nontaxable benefits
    $10,366
    Filer's total
    $349,759

  • Deone Powell

    GEN. COUNSEL & CHIEF LEGAL OFF

    Total calculated
    $338,454
    From this org
    $285,887
    From related orgs
    $0
    Other
    $52,567
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,637
    Bonus
    $31,250
    Other
    $0
    Deferred
    $40,961
    Nontaxable benefits
    $11,606
    Filer's total
    $338,454

  • Jodi Rosen

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $288,242
    From this org
    $228,079
    From related orgs
    $0
    Other
    $60,163
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,526
    Bonus
    $25,553
    Other
    $0
    Deferred
    $35,570
    Nontaxable benefits
    $24,593
    Filer's total
    $288,242

  • Elaine Kenig

    CHIEF COMMUNICATIONS OFFICER

    Total calculated
    $259,293
    From this org
    $200,947
    From related orgs
    $0
    Other
    $58,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,113
    Bonus
    $21,834
    Other
    $0
    Deferred
    $32,751
    Nontaxable benefits
    $25,595
    Filer's total
    $259,293

  • Lisa Lenker

    SR. MGR. RISK & COMPLEX ASSETS

    Total calculated
    $210,328
    From this org
    $159,541
    From related orgs
    $0
    Other
    $50,787
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,615
    Bonus
    $10,926
    Other
    $0
    Deferred
    $25,768
    Nontaxable benefits
    $25,019
    Filer's total
    $210,328

  • Mary Jane Emery

    DIRECTOR OF FINANCE/CONTROLLER

    Total calculated
    $200,180
    From this org
    $166,154
    From related orgs
    $0
    Other
    $34,026
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,004
    Bonus
    $10,150
    Other
    $0
    Deferred
    $25,765
    Nontaxable benefits
    $8,261
    Filer's total
    $200,180

  • Victoria Kelber-McKee

    SR. MANAGER PRODUCT OWNER

    Total calculated
    $196,714
    From this org
    $145,694
    From related orgs
    $0
    Other
    $51,020
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,775
    Bonus
    $8,919
    Other
    $0
    Deferred
    $22,537
    Nontaxable benefits
    $28,483
    Filer's total
    $196,714

  • Jessica Neff

    SR. MANAGER, HEAD OF DELIVERY

    Total calculated
    $190,899
    From this org
    $149,044
    From related orgs
    $0
    Other
    $41,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,796
    Bonus
    $9,248
    Other
    $0
    Deferred
    $23,656
    Nontaxable benefits
    $18,199
    Filer's total
    $190,899

  • Amanda Welsh

    OPERATIONS SR. MANAGER

    Total calculated
    $184,326
    From this org
    $135,584
    From related orgs
    $0
    Other
    $48,742
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,778
    Bonus
    $8,806
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $25,639
    Filer's total
    $161,223

  • John J Brennan

    TRUSTEE & CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Renee B Booth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Pamela Dippel Choney

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael F Holland

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael S Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Larry Dubinski

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Celia Roady

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 7
VANGUARD CHARITABLE OFFERS AN ANNUAL BONUS PROGRAM FOR SENIOR EXECUTIVES. THE ANNUAL AWARD OPPORTUNITY IS CAPPED AT A PERCENTAGE OF SALARY. BONUS PAYMENTS ARE APPROVED ANNUALLY BY THE BOARD, WHICH AWARDS BONUS PAYMENTS BASED ON PERFORMANCE AND COMPARABLE MARKET DATA.

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

The 10 largest by cash amount. The API serves every itemized grant.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • RHUMBLINE LOW CARBON INDEX FUND LLC

    EXCLUDED · INVESTMENTS · MA · 99.987% owned · share of income $19,825,327 · share of assets $538,837,818

    Directly controlled by VCEP

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202511349349313096

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

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