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Nonprofiteer
← INATAI FOUNDATION

Form 990 for tax year 2022

Filed by INATAI FOUNDATION.

Totals

Total revenue
$115,665,680
Total expenses
$82,535,606
Contributions and grants received
$0
Grants paid
$62,595,010
Program service revenue
$0
Investment income
$120,439,689
Other revenue
-$4,774,009
Total assets, end of year
$2,068,686,971
Total liabilities, end of year
$64,245,032
Net assets or fund balances, end of year
$2,004,441,939
Program services expenses (Part IX)
$69,037,813
Management and general expenses
$13,497,793
Fundraising expenses
$0
Program service expenses (Part III)
$69,037,813

Program services were 83.6% 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.

  • 3 · Investment income

    total $2,621,087 · excluded $2,621,087

  • 7a · Gross sales of assets other than inventory

    securities $530,369,052

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

    securities $412,550,450

  • 7c · Gain or loss

    securities $117,818,602

  • 7d · Net gain or loss

    total $117,818,602 · excluded $117,818,602

  • 11a · Other revenue: LEASE ADJUSTMENT

    total $75,896 · excluded $75,896

  • 11b · Other revenue: REFUND INCOME

    total $70,308 · excluded $70,308

  • 11c · Other revenue: UBI FROM PARTNERSHIPS

    total -$4,920,213 · unrelated business -$4,920,213

  • 11e · Other revenue, total

    -$4,774,009

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $62,595,010 · program services $62,595,010

  • 5 · Compensation of officers, directors and key employees

    total $3,191,471 · program services $329,094 · management and general $2,862,377

  • 7 · Other salaries and wages

    total $5,765,091 · program services $3,171,096 · management and general $2,593,995

  • 8 · Pension plan contributions

    total $590,028 · program services $280,134 · management and general $309,894

  • 9 · Other employee benefits

    total $733,227 · program services $286,561 · management and general $446,666

  • 10 · Payroll taxes

    total $499,346 · program services $237,866 · management and general $261,480

  • 11b · Fees: legal

    total $1,559,057 · management and general $1,559,057

  • 11c · Fees: accounting

    total $148,228 · management and general $148,228

  • 11d · Fees: lobbying

    total $94,000 · program services $94,000

  • 11f · Fees: investment management

    total $1,075,904 · management and general $1,075,904

  • 11g · Fees: other

    total $3,423,863 · program services $1,373,284 · management and general $2,050,579

  • 12 · Advertising and promotion

    total $13,595 · management and general $13,595

  • 13 · Office expenses

    total $178,974 · program services $2,244 · management and general $176,730

  • 14 · Information technology

    total $666,655 · program services $8,378 · management and general $658,277

  • 16 · Occupancy

    total $260,684 · management and general $260,684

  • 17 · Travel

    total $504,946 · program services $109,511 · management and general $395,435

  • 19 · Conferences, conventions and meetings

    total $888,642 · program services $440,307 · management and general $448,335

  • 22 · Depreciation, depletion and amortization

    total $55,293 · management and general $55,293

  • 23 · Insurance

    total $88,138 · management and general $88,138

  • 24a · Other expenses: BALLOT INITIATIVES

    total $100,000 · program services $100,000

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $67,082 · program services $4,809 · management and general $62,273

  • 24c · Other expenses: TAXES & LICENSES

    total $24,744 · program services $5 · management and general $24,739

  • 24d · Other expenses: MISCELLANEOUS

    total $11,628 · program services $5,514 · management and general $6,114

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,524,865 · end of year $2,488,217

  • 2 · Savings and temporary cash investments

    end of year $25,132,536

  • 4 · Accounts receivable

    beginning of year $105,480 · end of year $196,910

  • 9 · Prepaid expenses and deferred charges

    beginning of year $271,475 · end of year $302,341

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

    $583,776

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

    $219,411

  • 10c · Land, buildings and equipment, net

    beginning of year $207,685 · end of year $364,365

  • 11 · Investments: publicly traded securities

    beginning of year $143,225,710 · end of year $81,518,444

  • 12 · Investments: other securities

    beginning of year $2,335,993,585 · end of year $1,958,193,850

  • 15 · Other assets

    beginning of year $256,840 · end of year $490,308

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,997,675 · end of year $2,410,685

  • 18 · Grants payable

    beginning of year $53,848,821 · end of year $61,574,630

  • 25 · Other liabilities

    beginning of year $233,428 · end of year $259,717

  • 27 · Net assets without donor restrictions

    beginning of year $2,426,505,716 · end of year $2,004,441,939

Mission and programs · 2022

Mission

OUR MISSION IS TO TRANSFORM THE BALANCE OF POWER TO ENSURE EQUITY AND RACIAL JUSTICE ACROSS WASHINGTON AND BEYOND.

  • IN 2022, THE FOUNDATION CONTINUED TO PROVIDE RESOURCES, PRIMARILY IN THE FORM OF UNRESTRICTED GRANT FUNDING, TO ORGANIZATIONS AND COMMUNITIES DOING POWERFUL WORK TO BUILD POWER AND ADVANCE RACIAL JUSTICE IN WASHINGTON AND BEYOND. IN TOTAL, INATAI MADE MORE NEARLY 700 GRANTS AND CONTRIBUTIONS TO NEARLY 500 UNIQUE RECIPIENTS. THE FOUNDATION CONTINUED TO PROVIDE COMMUNITY LEARNING GRANTS TO HELP THE FOUNDATION LEARN HOW THE FOUNDATION CAN SUPPORT THE SOLUTIONS THAT DIFFERENT ORGANIZATIONS ARE CREATING TO DISMANTLE SYSTEMIC BARRIERS AND FOSTER HEALTH AND WEALTH IN WASHINGTON COMMUNITIES. THE FOUNDATION PROVIDED SYSTEM, POWER, AND ACTION GRANTS TO SUPPORT ORGANIZATIONS THAT ARE WORKING TO ENSURE PUBLIC POLICY, PUBLIC INSTITUTIONS, AND PUBLIC FUNDING ARE ACCOUNTABLE TO COMMUNITIES THROUGHOUT WASHINGTON. THE FOUNDATION CONTINUED FUNDING SPONSORSHIPS TO SUPPORT COMMUNITY AND CULTURALLY SPECIFIC GATHERINGS, MEETINGS, CONFERENCES, AND FUNDRAISERS. THE FOUNDATION SPONSORS EVENTS THAT GATHER PEOPLE TO CELEBRATE, TAKE COLLECTIVE ACTION, AND MAKE PROGRESS TOWARD JUSTICE AND EQUITY IN WASHINGTON. THE FOUNDATION GRANTED COLLABORATIONS GRANTS TO PARTNER WITH VALUES ALIGNED FOUNDATIONS AND SOME GOVERNMENT ENTITIES. THE FOUNDATION PROVIDED EQUITABLE RESPONSE AND RECOVERY FUNDS TO SUPPORT COMMUNITY-BASED ORGANIZATIONS' RESPONSE TO THE COVID-19 PANDEMIC, ITS DISPROPORTIONATE EFFECTS ON PEOPLE OF COLOR, EFFORTS TO ADVOCATE FOR A MORE JUST AND EQUITABLE RECOVERY. THE FOUNDATION PROVIDED BEYOND WASHINGTON GRANTS. THESE GRANTS SUSTAINED SUPPORT FOR ANTI-RACIST, PEOPLE CENTERED ORGANIZING, ELECTORAL ENGAGEMENT, AND ACTION THAT IS LED BY ORGANIZATIONS, LEADERS, AND NETWORKS OUTSIDE OF WASHINGTON AND THAT BENEFITS ALL PEOPLE WHO LIVE IN WASHINGTON. THE FOUNDATION GRANTED SHAPING OPPORTUNITIES TO EXPLORE EMERGING AND CONSISTENT THEMATIC AREAS OF COMMUNITY INTEREST, INCLUDING IMMIGRATION JUSTICE, CIVIL RIGHTS ENFORCEMENT, LEGAL ADVOCACY, AND ASSETS AND OWNERSHIP. THE FOUNDATION GRANTED CAMPAIGNS, LITIGATION, ISSUES, AND POLICY GRANTS TO RESOURCE IMPACT LITIGATION, PUBLIC POLICY RESEARCH, AND PUBLIC AWARENESS AND ISSUE CAMPAIGNS THAT ADVANCE COMMUNITY POWER AND RACIAL JUSTICE. THE FOUNDATION GRANTED TECHNICAL ASSISTANCE GRANTS TO DEVELOP COMMUNITY ASSETS SUCH AS COMMUNITY CONNECTION, FINANCIAL RESOURCES, ORGANIZATIONAL CAPACITY, AND INFLUENCE AMONG DECISION MAKERS. THE FOUNDATION GRANTED NARRATIVE GRANTS FOR COMMUNITY AND LEGACY NEWSROOMS WHOSE REPORTING HOLDS GOVERNMENT, BUSINESSES, AND OTHER SYSTEMS AND INSTITUTIONS ACCOUNTABLE.

    Expenses $69,037,813 · Grants $62,595,010

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR AMERICA BRACHO PEREZ

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.79

  • DR DAVID FLEMING

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.24

  • PORSCHE EVERSON

    DIRECTOR (THRU 3/22)

    Total calculated
    $14,250
    From this org
    $14,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.08

  • PETER VAN OPPEN

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.75

  • MELVIN BRIAN CLADOOSBY

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.83

  • LATISHA HILL

    DIRECTOR (THRU 3/22)

    Total calculated
    $14,250
    From this org
    $14,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.08

  • SETH KIRBY

    VICE CHAIR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.21 + 0.1 related

  • KATHERINE BELL

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.18 + 0.18 related

  • JANETTE OLMSTEAD

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • SUSAN BYINGTON

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.68

  • LUZ VEGA-MARQUIS

    TREASURER

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74 + 0.1 related

  • MARTHA CHOE

    DIRECTOR

    Total calculated
    $28,500
    From this org
    $28,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.37 + 0.1 related

  • DR BENJAMIN DANIELSON

    CHAIR

    Total calculated
    $37,050
    From this org
    $37,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.34

  • NICHOLE MAHER

    PRESIDENT AND CEO

    Total calculated
    $822,735
    From this org
    $763,584
    From related orgs
    $0
    Other
    $59,151
    Hours/week
    40 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $643,084
    Bonus
    $100,000
    Other
    $20,500
    Deferred
    $30,500
    Nontaxable benefits
    $28,651
    Filer's total
    $822,735

  • PENG WANG

    CHIEF INVESTMENT OFFICER (FROM 12/22)

    Total calculated
    $761,278
    From this org
    $711,388
    From related orgs
    $0
    Other
    $49,890
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $370,888
    Bonus
    $320,000
    Other
    $20,500
    Deferred
    $30,500
    Nontaxable benefits
    $19,390
    Filer's total
    $761,278

  • CORY SBARBARO

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $467,261
    From this org
    $425,860
    From related orgs
    $0
    Other
    $41,401
    Hours/week
    38.8 + 1.2 related

    Schedule J breakdown matched by us

    Base
    $414,588
    Bonus
    $0
    Other
    $11,272
    Deferred
    $30,500
    Nontaxable benefits
    $10,901
    Filer's total
    $467,261

  • MUTHU MUTHIAH

    CHIEF INVESTMENT OFFICER (THRU 6/22)

    Total calculated
    $594,391
    From this org
    $558,576
    From related orgs
    $0
    Other
    $35,815
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,076
    Bonus
    $300,000
    Other
    $20,500
    Deferred
    $30,500
    Nontaxable benefits
    $5,315
    Filer's total
    $594,391

  • CARMEN LOH

    FINANCE AND ADMINISTRATION DIRECTOR

    Total calculated
    $212,787
    From this org
    $178,929
    From related orgs
    $0
    Other
    $33,858
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $178,929
    Bonus
    $0
    Other
    $0
    Deferred
    $18,678
    Nontaxable benefits
    $15,180
    Filer's total
    $212,787

  • BRENDA ANIBARRO

    VP OF LEARNING AND COMMUNITY ENGAGEMENT

    Total calculated
    $320,816
    From this org
    $268,777
    From related orgs
    $0
    Other
    $52,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,777
    Bonus
    $0
    Other
    $0
    Deferred
    $27,691
    Nontaxable benefits
    $24,348
    Filer's total
    $320,816

  • DAWN WILSON

    INVESTMENT OPERATIONS DIRECTOR

    Total calculated
    $452,863
    From this org
    $408,049
    From related orgs
    $0
    Other
    $44,814
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,037
    Bonus
    $140,000
    Other
    $10,012
    Deferred
    $30,168
    Nontaxable benefits
    $14,646
    Filer's total
    $452,863

  • CARMEN BERKLEY

    VICE PRESIDENT OF STRATEGY AND IMPACT

    Total calculated
    $331,179
    From this org
    $287,794
    From related orgs
    $0
    Other
    $43,385
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,794
    Bonus
    $0
    Other
    $0
    Deferred
    $29,452
    Nontaxable benefits
    $13,933
    Filer's total
    $331,179

  • STEVEN COLE-SCHWARTZ

    VICE PRESIDENT OF GRANTMAKING

    Total calculated
    $344,910
    From this org
    $304,577
    From related orgs
    $0
    Other
    $40,333
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $304,520
    Bonus
    $0
    Other
    $57
    Deferred
    $30,500
    Nontaxable benefits
    $9,833
    Filer's total
    $344,910

  • CHARLOTTE ZHANG

    PORTFOLIO MANAGER

    Total calculated
    $393,930
    From this org
    $353,987
    From related orgs
    $0
    Other
    $39,943
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,443
    Bonus
    $100,000
    Other
    $4,544
    Deferred
    $30,500
    Nontaxable benefits
    $9,443
    Filer's total
    $393,930

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

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

The filer's explanations (Part III)

PART I, LINE 8
THE FOUNDATION PAID $300,000 IN INCENTIVE COMPENSATION TO THE OUTGOING CHIEF INVESTMENT OFFICER AND $320,000 IN INCENTIVE COMPENSATION TO THE INCOMING CHIEF INVESTMENT OFFICER (FORMERLY THE MANAGING DIRECTOR OF INVESTMENTS). THE FIXED PAYMENTS WERE RECEIVED AS PART OF THEIR EMPLOYMENT CONTRACT.

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.

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.

  • INATAI COMMUNITY FUND

    501(C)(3) · IMPROVE THE HEALTH OF WASHINGTON COMMUNITIES · WA · controlled entity

    Directly controlled by INATAI FOUNDATION

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • INATAI INVESTMENT MANAGEMENT CO LLC

    INVESTMENT HOLDINGS · WA · income $0 · assets $0

    Directly controlled by INATAI FOUNDATION

  • INATAI CAPITAL GP LLC

    INVESTMENT HOLDINGS · WA · income $0 · assets $0

    Directly controlled by INATAI INVESTMENT MANAGEMENT CO LLC

  • INATAI PARTNERS FUND LP

    INVESTMENT HOLDINGS · WA · income -$3,255,112 · assets $292,572,796

    Directly controlled by INATAI FUND LP

  • INATAI FUND LP

    INVESTMENT HOLDINGS · WA · income $71,079,578 · assets $1,747,139,504

    Directly controlled by INATAI CAPITAL GP LLC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313189349305281

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