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← INDEPENDENT CHARITABLE GIFT FUND

Form 990 for tax year 2024

Filed by INDEPENDENT CHARITABLE GIFT FUND.

Totals

Total revenue
$198,305,368
Total expenses
$70,743,867
Contributions and grants received
$181,347,394
Grants paid
$67,229,866
Program service revenue
$0
Investment income
$16,934,869
Other revenue
$23,105
Total assets, end of year
$575,440,270
Total liabilities, end of year
$50,328
Net assets or fund balances, end of year
$575,389,942
Program services expenses (Part IX)
$67,469,419
Management and general expenses
$2,924,952
Fundraising expenses
$349,496
Program service expenses (Part III)
$67,469,419

Program services were 95.4% 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

    $181,347,394

  • 1g · Noncash contributions included above

    $155,119,044

  • 3 · Investment income

    total $16,934,869 · excluded $16,934,869

  • 11a · Other revenue: OTHER INCOME

    total $23,105 · excluded $23,105

  • 11e · Other revenue, total

    $23,105

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $67,229,866 · program services $67,229,866

  • 5 · Compensation of officers, directors and key employees

    total $522,804 · program services $107,622 · management and general $278,640 · fundraising $136,542

  • 7 · Other salaries and wages

    total $232,334 · program services $47,379 · management and general $124,238 · fundraising $60,717

  • 8 · Pension plan contributions

    total $5,738 · program services $1,262 · management and general $2,984 · fundraising $1,492

  • 9 · Other employee benefits

    total $21,455 · program services $4,988 · management and general $11,331 · fundraising $5,136

  • 10 · Payroll taxes

    total $52,976 · program services $10,803 · management and general $28,328 · fundraising $13,845

  • 11b · Fees: legal

    total $698 · management and general $698

  • 11c · Fees: accounting

    total $24,435 · management and general $24,435

  • 11f · Fees: investment management

    total $2,279,436 · management and general $2,279,436

  • 11g · Fees: other

    total $3,723 · management and general $3,723

  • 12 · Advertising and promotion

    total $60,352 · management and general $1,952 · fundraising $58,400

  • 13 · Office expenses

    total $32,836 · program services $14,167 · management and general $14,814 · fundraising $3,855

  • 14 · Information technology

    total $208,533 · program services $42,525 · management and general $111,511 · fundraising $54,497

  • 16 · Occupancy

    total $51,300 · program services $10,462 · management and general $27,432 · fundraising $13,406

  • 17 · Travel

    total $2,910 · management and general $1,746 · fundraising $1,164

  • 20 · Interest

    total $1,284 · management and general $1,284

  • 22 · Depreciation, depletion and amortization

    total $1,692 · program services $345 · management and general $905 · fundraising $442

  • 23 · Insurance

    total $11,495 · management and general $11,495

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,808 · end of year $12,189

  • 2 · Savings and temporary cash investments

    beginning of year $6,941,670 · end of year $7,016,409

  • 3 · Pledges and grants receivable

    beginning of year $195,500 · end of year $185,000

  • 7 · Other notes and loans receivable

    beginning of year $771,657 · end of year $771,738

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,573 · end of year $12,479

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

    $10,116

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

    $2,538

  • 10c · Land, buildings and equipment, net

    beginning of year $9,270 · end of year $7,578

  • 11 · Investments: publicly traded securities

    beginning of year $410,231,929 · end of year $567,433,127

  • 15 · Other assets

    beginning of year $1,750 · end of year $1,750

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,910 · end of year $25,466

  • 24 · Unsecured notes and loans payable

    beginning of year $24,862 · end of year $24,862

  • 27 · Net assets without donor restrictions

    beginning of year $418,141,385 · end of year $575,389,942

Mission and programs · 2024

Mission

INSPIRING AND ENABLING AMERICANS AND THEIR TRUSTED ADVISORS TO CREATE, PRESERVE AND PASS ON THEIR PHILANTHROPIC LEGACY THROUGH DONOR ADVISED FUND SOLUTIONS WHERE THE IMPACT IS TRULY REMARKABLE AND THE EXPERIENCE IS FUN, RESULTING IN ADDITIONAL CHARITABLE GIVING.

Activities or mission (Part I)

TO ENCOURAGE PHILANTHROPY AND INSPIRE AMERICANS TO CREATE THEIR LEGACY THROUGH DONOR ADVISED FUNDS.

  • IGIFTFUND MAKES GRANTS TO U.S. CHARITABLE TAX-EXEMPT ORGANIZATIONS TO FURTHER THE CHARITABLE PURPOSES OF THE ORGANIZATIONS.

    Expenses $67,469,419 · Grants $67,229,866

As filed on the 2024 return.

Listed in Part VII

  • Philip T Tobin

    CHAIRMAN/TREASURER(11/24 & FORWARD)

    Total calculated
    $4,946
    From this org
    $0
    From related orgs
    $0
    Other
    $4,946
    Hours/week
    40

  • Christopher Dudley

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.2

  • Toby Blossom

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Jane Howington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Matthew F Kadish

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Pat Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Dave Pratt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Patrick Scherer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Lawrence Spieth

    DIRECTOR(THROUGH 11/24)

    Total calculated
    $0
    Hours/week
    0.2

  • Gary Hanz

    TREASURER(THROUGH 11/24)

    Total calculated
    $0
    Hours/week
    0.2

  • William A Payne

    PRESIDENT/CHIEF EXECUTIVE OFFICER

    Total calculated
    $199,385
    From this org
    $168,432
    From related orgs
    $0
    Other
    $30,953
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,599
    Bonus
    $8,833
    Other
    $0
    Deferred
    $5,053
    Nontaxable benefits
    $25,900
    Filer's total
    $199,385

  • Sheilah Villanueva

    EVP/COO

    Total calculated
    $164,167
    From this org
    $151,907
    From related orgs
    $0
    Other
    $12,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,687
    Bonus
    $9,220
    Other
    $0
    Deferred
    $4,557
    Nontaxable benefits
    $7,703
    Filer's total
    $164,167

  • Cindy Shedloski

    CONTROLLER

    Total calculated
    $102,119
    From this org
    $89,909
    From related orgs
    $0
    Other
    $12,210
    Hours/week
    20

  • Susan Figler

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $52,189
    From this org
    $49,915
    From related orgs
    $0
    Other
    $2,274
    Hours/week
    40

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

None.

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

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

Provenance

Return type
form_990
Tax year
2024
Filed
11 August 2025
IRS schema version
2024v5.2
Source object
202532249349300028

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