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Nonprofiteer
← THE WALTER KAITZ FOUNDATION

Form 990 for tax year 2024

Filed by THE WALTER KAITZ FOUNDATION.

Totals

Total revenue
$1,202,826
Total expenses
$4,605,087
Contributions and grants received
$940,836
Grants paid
$4,237,567
Program service revenue
$0
Investment income
$261,990
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$4,366,963
Management and general expenses
$66,368
Fundraising expenses
$171,756
Program service expenses (Part III)
$4,366,963

Program services were 94.8% 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.

  • 1b · Membership dues

    $802,836

  • 1f · All other contributions, gifts and grants

    $138,000

  • 3 · Investment income

    total $22,154 · excluded $22,154

  • 7a · Gross sales of assets other than inventory

    securities $802,510

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

    securities $562,674

  • 7c · Gain or loss

    securities $239,836

  • 7d · Net gain or loss

    total $239,836 · excluded $239,836

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,237,567 · program services $4,237,567

  • 7 · Other salaries and wages

    total $133,666 · program services $46,783 · management and general $26,733 · fundraising $60,150

  • 8 · Pension plan contributions

    total $12,025 · program services $4,209 · management and general $2,405 · fundraising $5,411

  • 9 · Other employee benefits

    total $9,560 · program services $3,346 · management and general $1,912 · fundraising $4,302

  • 10 · Payroll taxes

    total $8,253 · program services $2,889 · management and general $1,650 · fundraising $3,714

  • 11b · Fees: legal

    total $98,251 · program services $34,388 · management and general $19,650 · fundraising $44,213

  • 11c · Fees: accounting

    total $23,960 · program services $8,386 · management and general $4,792 · fundraising $10,782

  • 11f · Fees: investment management

    total $1,113 · management and general $1,113

  • 11g · Fees: other

    total $72,870 · program services $23,407 · management and general $7,550 · fundraising $41,913

  • 13 · Office expenses

    total $855 · program services $299 · management and general $171 · fundraising $385

  • 17 · Travel

    total $847 · program services $297 · management and general $169 · fundraising $381

  • 22 · Depreciation, depletion and amortization

    total $924 · program services $323 · management and general $185 · fundraising $416

  • 24a · Other expenses: EVENTS

    total $5,000 · program services $5,000

  • 24b · Other expenses: HONORARIA/GIFTS

    total $196 · program services $69 · management and general $38 · fundraising $89

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,469 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $98,346 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $70,000 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $4,618 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $3,470,029 · end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $123,782 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,542,680 · end of year $0

Mission and programs · 2024

Mission

THE WALTER KAITZ FOUNDATION CHAMPIONS DIVERSITY, EQUITY, AND INCLUSION IN THE CABLE, MEDIA, ENTERTAINMENT, AND TECHNOLOGY INDUSTRIES. THE FOUNDATION SUPPORTS INITIATIVES THAT DEVELOP AND ADVANCE HISTORICALLY UNDERREPRESENTED TALENT TO DRIVE INNOVATION, BUSINESS PERFORMANCE, AND POSITIVE COMMUNITY IMPACT.

  • GRANTS PROGRAM:THE WALTER KAITZ FOUNDATION FUNDS PROGRAMS THAT DRIVE DIVERSITY, EQUITY, AND INCLUSION ACROSS THE CABLE, MEDIA, ENTERTAINMENT, AND TECHNOLOGY INDUSTRIES. OUR GRANTS SUPPORT INITIATIVES THAT PROVIDE MULTI-YEAR PAID INTERNSHIPS FOR UNDERREPRESENTED STUDENTS, PROFESSIONAL DEVELOPMENT FOR DIVERSE TALENT, MENTORSHIP PROGRAMS, AND LEADERSHIP TRAINING FOR WOMEN AND ETHNIC MINORITIES. THESE EFFORTS HELP BUILD INCLUSIVE TALENT PIPELINES AND DEVELOP A WORKFORCE EQUIPPED TO LEAD INNOVATION AND FOSTER LONG-TERM BUSINESS SUCCESS. ADDITIONALLY, THE FOUNDATION IDENTIFIES AND PROVIDES GRANTS TO ORGANIZATIONS WITHIN THE MEDIA AND ENTERTAINMENT ECOSYSTEM THAT ARE CREATING POSITIVE SOCIAL IMPACT IN AREAS SUCH AS SUSTAINABILITY, DIGITAL LITERACY, AND ECONOMIC INCLUSION FOR UNDERSERVED COMMUNITIES.

    Expenses $4,237,567 · Grants $4,237,567

  • OUTREACH PROGRAM:THE FOUNDATION SUPPORTS RESEARCH THAT BENCHMARKS INDUSTRY PROGRESS ON DIVERSITY AND PAY EQUITY. THESE STUDIES PROVIDE CRITICAL DATA ON MULTI-ETHNIC EMPLOYMENT AND GENDER EQUALITY, HELPING COMPANIES ENHANCE RECRUITMENT, RETENTION, AND COMPENSATION PRACTICES. THE RESEARCH INFORMS STRATEGIES THAT FOSTER MORE INCLUSIVE WORKPLACES BY OFFERING CLEAR INSIGHTS INTO WORKFORCE DIVERSITY.

    Expenses $129,396

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MICHAEL POWELL

    PRESIDENT & CEO

    Total calculated
    $3,342,191
    From this org
    $0
    From related orgs
    $3,289,172
    Other
    $53,019
    Hours/week
    3 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,947,757 related
    Bonus
    $0 + $1,300,000 related
    Other
    $0 + $41,415 related
    Deferred
    $0 + $42,310 related
    Nontaxable benefits
    $0 + $10,709 related
    Filer's total
    $0 + $3,342,191 related

  • PAT MCADARAGH

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • MARK GREATREX

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • DAVE WATSON

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • BOB BAKISH

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • PAUL BUCCIERI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • KRISTIN DOLAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • RONALD DUNCAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • JOHN D EVANS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • KATHLEEN FINCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • SANDY HOWE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • ALFRED LIGGINS III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • JOHN PASCARELLI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • JAMES PITARO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • SUZANNE SCOTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • RICHARD SJOBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • CHUCK TREADWAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • CHRIS WINFREY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.1 related

  • NILDA GUMBS

    CHIEF OF STAFF

    Total calculated
    $243,079
    From this org
    $0
    From related orgs
    $210,870
    Other
    $32,209
    Hours/week
    11 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,541 related
    Bonus
    $0
    Other
    $0 + $12,329 related
    Deferred
    $0 + $24,387 related
    Nontaxable benefits
    $0 + $7,822 related
    Filer's total
    $0 + $243,079 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. 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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

PART I, LINE 4B:
THE PRESIDENT & CEO OF NCTA - THE INTERNET & TELEVISION ASSOCIATION PARTICIPATES IN A DEFERRED COMPENSATION AGREEMENT ADMINISTERED BY NCTA - THE INTERNET & TELEVISION ASSOCIATION.

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

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2024
Filed
13 April 2025
IRS schema version
2024v5.1
Source object
202541049349302264

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