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← RSM US FOUNDATION

Form 990 for tax year 2022

Filed by RSM US FOUNDATION.

Totals

Total revenue
$11,436,513
Total expenses
$9,034,475
Contributions and grants received
$11,115,330
Grants paid
$8,956,030
Program service revenue
$0
Investment income
$321,183
Other revenue
$0
Total assets, end of year
$13,888,045
Total liabilities, end of year
$768,452
Net assets or fund balances, end of year
$13,119,593
Program services expenses (Part IX)
$9,005,286
Management and general expenses
$29,189
Fundraising expenses
$0
Program service expenses (Part III)
$9,005,286

Program services were 99.7% 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.

  • 1c · Fundraising events

    $98,066

  • 1d · Related organizations

    $7,258,000

  • 1f · All other contributions, gifts and grants

    $3,759,264

  • 1g · Noncash contributions included above

    $98,066

  • 3 · Investment income

    total $321,183 · excluded $321,183

  • 8a · Fundraising events: gross income

    $98,066

  • 8a · Fundraising events: contributions included on line 1c

    $98,066

  • 8b · Fundraising events: direct expenses

    $98,066

  • 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 $8,260,298 · program services $8,260,298

  • 2 · Grants to domestic individuals

    total $342,440 · program services $342,440

  • 3 · Grants to foreign organizations and individuals

    total $353,292 · program services $353,292

  • 11c · Fees: accounting

    total $11,100 · management and general $11,100

  • 11f · Fees: investment management

    total $18,074 · management and general $18,074

  • 24a · Other expenses: ONLINE DONATION FEES

    total $49,256 · program services $49,256

  • 24b · Other expenses: IL FILING FEE

    total $15 · management and general $15

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,349,165 · end of year $2,762,768

  • 3 · Pledges and grants receivable

    end of year $808,844

  • 4 · Accounts receivable

    beginning of year $65,090

  • 11 · Investments: publicly traded securities

    beginning of year $10,506,649 · end of year $10,316,433

  • 18 · Grants payable

    beginning of year $1,175,322 · end of year $768,452

  • 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 $12,745,582 · end of year $13,119,593

Mission and programs · 2022

Mission

DEDICATED TO BUILDING TOMORROW'S MIDDLE MARKET LEADERS BY:- ENHANCING EDUCATIONAL OUTCOMES THROUGH PROGRAMS FOR INDIVIDUALS TO HAVE A CAREER PATH TO BECOME AN ENTREPRENEUR OR MIDDLE MARKET BUSINESS LEADER- SUPPORTING ORGANIZATIONS COMMITTED TO PROVIDING A MORE STABLE ENVIRONMENT FOR YOUTH IN THE AREAS OF HUNGER, HOUSING OR HEALTH, WHICH HELP THEM EXCEL IN EDUCATION

Activities or mission (Part I)

DEDICATED TO BUILDING TOMORROW'S MIDDLE MARKET LEADERS BY ENHANCING EDUCATIONAL OUTCOMES.

  • POWER OF LOVE (FKA BIRDIES FORE LOVE): IN 2022, RSM US FOUNDATION TEAMED WITH THE DAVIS LOVE FOUNDATION FOR THE TENTH ANNUAL POWER OF LOVE CAMPAIGN. ORIGINATED BY THE DAVIS LOVE FOUNDATION, THE CAMPAIGN HAS GENERATED FINANCIAL SUPPORT FOR MANY CHARITIES HELPING CHILDREN AND FAMILIES IN THE SOUTHEAST. WITH RSM US FOUNDATION'S SUPPORT, POWER OF LOVE HAS EXPANDED ITS REACH TO INCLUDE CHARITIES FOCUSED ON CHILDREN AND FAMILIES NATIONWIDE. IN 2022, MORE THAN $5.1 MILLION WAS RAISED TO BENEFIT 90 CHARITIES SUPPORTING YOUTH IN THE AREAS OF EDUCATION, HUNGER, HOUSING, AND HEALTH.

    Expenses $5,195,788 · Grants $5,146,532

  • NATIONAL CHARITIES: GRANT SUPPORT TO NATIONAL CHARITIES WHOSE MISSION ALIGNS WITH THE MISSION OF THE RSM US FOUNDATION OF EDUCATION, HOUSING, OR HEALTH.

    Expenses $1,256,922 · Grants $1,256,922

  • UNIVERSITY GIVING: RSM US FOUNDATION IS FOCUSED ON ENHANCING EDUCATION FOR TOMORROW'S MIDDLE MARKET LEADERS. IN 2022, OVER 160 UNIVERSITIES AND ELIGIBLE ORGANIZATIONS RECEIVED GRANTS RANGING FROM $390 TO $67,000.

    Expenses $1,212,858 · Grants $1,212,858

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $557,725 · Grants $557,725

  • CULTURE, DIVERSITY, AND INCLUSION (CDI): IN 2022, THE CDI IMPACT FUND FUNDED EDUCATIONAL SCHOLARSHIPS FOR STUDENTS FROM UNDERREPRESENTED POPULATIONS PURSUING AN EDUCATION IN ACCOUNTING, BUSINESS OR TECHNOLOGY.

    Expenses $297,333 · Grants $297,333

  • COMMUNITY IMPACT FUND: THROUGH THE COMMUNITY IMPACT FUND, RSM US FOUNDATION PROVIDES GRANTS TO LOCAL CHARITIES RECOMMENDED BY RSM US LLP EMPLOYEES. THE PURPOSE OF THESE GRANTS IS TO AMPLIFY RSM EMPLOYEE GROUP FUNDRAISING EFFORTS AND/OR RELATIONSHPS WITH LOCAL CHARITIES. ALL GRANTS GO TO CHARITIES WHOSE MISSION ALIGNS TO THE MISSION OF RSM US FOUNDATION.

    Expenses $222,555 · Grants $222,555

  • ALL OTHER PROGRAMS

    Expenses $262,105 · Grants $262,105

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Joseph Adams

    PRESIDENT (UNTIL 09/22)

    Total calculated
    $0
    Hours/week
    2

  • Brian Becker

    PRESIDENT (EFF 09/22)

    Total calculated
    $0
    Hours/week
    2

  • Doug Opheim

    CHAIR & TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Sudhir Kondisetty

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jackie Dammeier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chuck Freeman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rhonda Klosler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Donna Sciarappa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Waterman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

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

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • RSM US LLP

    PUBLIC ACCOUNTING · IL

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202333189349311273

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