Skip to content
Nonprofiteer
← USIT FOUNDATION

Form 990 for tax year 2022

Filed by USIT FOUNDATION.

Totals

Total revenue
$171,909
Total expenses
$150,432
Contributions and grants received
$148,565
Grants paid
$99,645
Program service revenue
$22,722
Investment income
$622
Other revenue
$0
Total assets, end of year
$145,223
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$145,223
Program services expenses (Part IX)
$146,509
Management and general expenses
$3,923
Fundraising expenses
$0
Program service expenses (Part III)
$150,432

Program services were 97.4% 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

    $148,565

  • 1g · Noncash contributions included above

    $77,381

  • 2a · Program service revenue: Student dues

    total $22,722 · related or exempt $22,722

  • 3 · Investment income

    total $622 · excluded $622

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $99,645 · program services $99,645

  • 13 · Office expenses

    total $294 · management and general $294

  • 14 · Information technology

    total $3,629 · management and general $3,629

  • 19 · Conferences, conventions and meetings

    total $46,864 · program services $46,864

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $73,981 · end of year $94,890

  • 11 · Investments: publicly traded securities

    beginning of year $44,961 · end of year $50,333

  • 27 · Net assets without donor restrictions

    beginning of year $118,942 · end of year $145,223

Mission and programs · 2022

Mission

The Foundation supports the USIT student organization and engages its alumni to promote personal and professional growth through active charitable giving.

Activities or mission (Part I)

We develop undergraduate students to critically assess the world and apply their analysis in investing data science and philanthropy

  • Regranting of funds to high-impact charity partners based on extensive research and analysis.

    Expenses $99,645 · Grants $99,645 · Revenue $122,565

  • Educational and interactive student organization to promote personal, occupational, and academic growth through active securities investing.

    Expenses $50,787 · Revenue $49,344

As filed on the 2022 return.

Listed in Part VII

  • Harvey D Powers

    Trustee

    Total calculated
    $0
    Hours/week
    10

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
9 August 2024
IRS schema version
2022v5.0
Source object
202442229349301654

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

The source document this was parsed from is served over the API, which is where bulk and document access live.