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Nonprofiteer
← THE AD CLUB FOUNDATION INC

Form 990 for tax year 2023

Filed by THE AD CLUB FOUNDATION INC.

Totals

Total revenue
$88,872
Total expenses
$75,102
Contributions and grants received
$88,872
Grants paid
$75,000
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$27,945
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$27,945
Program services expenses (Part IX)
$75,000
Management and general expenses
$102
Fundraising expenses
$0
Program service expenses (Part III)
$75,000

Program services were 99.9% 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

    $88,872

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $75,000 · program services $75,000

  • 24a · Other expenses: Miscellaneous

    total $102 · management and general $102

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,175 · end of year $27,945

  • 15 · Other assets

    beginning of year $1,000 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,175 · end of year $27,945

Mission and programs · 2023

Mission

The Ad Club Foundation funds scholarship programs for a diverse student body studying marketing communications. It provides matching funds for summer internship programs to give a diverse student body agency opportunities where there would otherwise not be any and it sponsors the Rosoff Diversity Award show which celebrates people who are succeeding in creating diverse workplaces in greater Boston, and the Women's Leadership Forum, which focuses on leadership for women in the workplace.

  • Scholarship. The foundation supports the awarding of scholarships for marketing and media industries each year. Applications are reviewed and qualified students are provided with matching funds to attend a qualified education institution.

    Expenses $75,000 · Grants $75,000

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

Listed in Part VII

  • Sarah Fay

    Treasurer & Director

    Total calculated
    $0
    Hours/week
    1

  • Andrew Graff

    Clerk & Director

    Total calculated
    $0
    Hours/week
    1

  • Barbara Reilly As of June 2023

    President & Director

    Total calculated
    $125,000
    From this org
    $0
    From related orgs
    $125,000
    Other
    $0
    Hours/week
    1

  • Kathleen Kiely through May 2023

    President & Director

    Total calculated
    $113,710
    From this org
    $0
    From related orgs
    $105,769
    Other
    $7,941
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $105,769 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,941 related
    Filer's total
    $0 + $113,710 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

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202433139349304268

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