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Nonprofiteer
← DRAPER RICHARDS KAPLAN FOUNDATION

Form 990 for tax year 2023

Filed by DRAPER RICHARDS KAPLAN FOUNDATION.

Totals

Total revenue
$12,362,974
Total expenses
$17,880,558
Contributions and grants received
$12,218,796
Grants paid
$4,300,000
Program service revenue
$0
Investment income
-$81,244
Other revenue
$225,422
Total assets, end of year
$43,758,116
Total liabilities, end of year
$2,844,637
Net assets or fund balances, end of year
$40,913,479
Program services expenses (Part IX)
$14,081,548
Management and general expenses
$2,692,177
Fundraising expenses
$1,106,833
Program service expenses (Part III)
$14,081,548

Program services were 78.8% 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.

  • 1f · All other contributions, gifts and grants

    $12,218,796

  • 3 · Investment income

    total $1,219,807 · excluded $1,219,807

  • 6a · Gross rents

    real property $225,422

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $225,422

  • 6d · Net rental income or loss

    total $225,422 · excluded $225,422

  • 7a · Gross sales of assets other than inventory

    securities $13,507,635 · other assets $300,267

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

    securities $14,635,821 · other assets $473,132

  • 7c · Gain or loss

    securities -$1,128,186 · other assets -$172,865

  • 7d · Net gain or loss

    total -$1,301,051 · excluded -$1,301,051

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,650,000 · program services $3,650,000

  • 3 · Grants to foreign organizations and individuals

    total $650,000 · program services $650,000

  • 5 · Compensation of officers, directors and key employees

    total $1,109,109 · program services $498,142 · management and general $399,016 · fundraising $211,951

  • 7 · Other salaries and wages

    total $4,566,708 · program services $3,388,116 · management and general $926,707 · fundraising $251,885

  • 8 · Pension plan contributions

    total $552,000 · program services $378,727 · management and general $128,215 · fundraising $45,058

  • 9 · Other employee benefits

    total $1,239,579 · program services $792,204 · management and general $361,736 · fundraising $85,639

  • 10 · Payroll taxes

    total $382,750 · program services $262,787 · management and general $88,673 · fundraising $31,290

  • 11b · Fees: legal

    total $34,616 · program services $26,225 · management and general $8,391

  • 11c · Fees: accounting

    total $85,478 · management and general $85,478

  • 11f · Fees: investment management

    total $93,666 · management and general $93,666

  • 11g · Fees: other

    total $1,255,362 · program services $972,756 · management and general $86,817 · fundraising $195,789

  • 12 · Advertising and promotion

    total $38,100 · management and general $38,100

  • 13 · Office expenses

    total $144,571 · program services $93,390 · management and general $41,151 · fundraising $10,030

  • 14 · Information technology

    total $47,295 · program services $28,693 · management and general $13,625 · fundraising $4,977

  • 16 · Occupancy

    total $929,726 · program services $587,839 · management and general $279,125 · fundraising $62,762

  • 17 · Travel

    total $433,011 · program services $360,264 · management and general $51,028 · fundraising $21,719

  • 19 · Conferences, conventions and meetings

    total $26,019 · program services $22,891 · management and general $2,312 · fundraising $816

  • 22 · Depreciation, depletion and amortization

    total $9,696 · program services $6,130 · management and general $2,911 · fundraising $655

  • 23 · Insurance

    total $52,658 · program services $33,294 · management and general $15,809 · fundraising $3,555

  • 24a · Other expenses: ENTREPRENEURIAL EXP.

    total $1,128,310 · program services $1,128,310

  • 24b · Other expenses: PRI PROVISION

    total $966,674 · program services $966,674

  • 24c · Other expenses: DONOR EVENTS

    total $161,765 · fundraising $161,765

  • 24d · Other expenses: SOFTWARE, SUBSCRIPTIONS

    total $158,481 · program services $119,428 · management and general $31,462 · fundraising $7,591

  • 24e · All other expenses

    total $164,984 · program services $115,678 · management and general $37,955 · fundraising $11,351

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,781,550 · end of year $1,984,318

  • 2 · Savings and temporary cash investments

    beginning of year $153,380 · end of year $11,120,622

  • 3 · Pledges and grants receivable

    beginning of year $10,585,135 · end of year $8,968,572

  • 9 · Prepaid expenses and deferred charges

    beginning of year $215,590 · end of year $168,623

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

    $164,287

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

    $149,784

  • 10c · Land, buildings and equipment, net

    beginning of year $12,671 · end of year $14,503

  • 11 · Investments: publicly traded securities

    beginning of year $27,487,138 · end of year $14,946,835

  • 12 · Investments: other securities

    beginning of year $328,226 · end of year $260,616

  • 13 · Investments: program-related

    beginning of year $4,693,597 · end of year $4,122,736

  • 14 · Intangible assets

    beginning of year $53,170 · end of year $0

  • 15 · Other assets

    beginning of year $2,127,998 · end of year $2,171,291

  • 17 · Accounts payable and accrued expenses

    beginning of year $994,331 · end of year $768,196

  • 18 · Grants payable

    beginning of year $150,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,066,835 · end of year $2,076,441

  • 27 · Net assets without donor restrictions

    beginning of year $31,485,459 · end of year $29,998,465

  • 28 · Net assets with donor restrictions

    beginning of year $13,741,830 · end of year $10,915,014

Mission and programs · 2023

Mission

THE DRAPER RICHARDS KAPLAN FOUNDATION IS A GLOBAL VENTURE PHILANTHROPY FIRM SUPPORTING EARLY STAGE, HIGH IMPACT SOCIAL ENTERPRISES. WE BELIEVE THAT WITH EARLY FUNDING AND RIGOROUS SUPPORT, EXCEPTIONAL LEADERS, TACKLING SOME OF SOCIETY'S MOST COMPLEX PROBLEMS, CAN MAKE THE WORLD A BETTER PLACE.

Activities or mission (Part I)

TO FIND, FUND AND SUPPORT EXCEPTIONAL, HIGH IMPACT SOCIAL ENTERPRISES.

  • IN 2023, THE FOUNDATION FUNDED 49 SOCIAL IMPACT ORGANIZATIONS CREATING SOCIAL CHANGE AROUND THE GLOBE THROUGH UNRESTRICTED GRANTS.

    Expenses $4,300,000 · Grants $4,300,000

  • THE FOUNDATION PROVIDES EACH PORTFOLIO ORGANIZATION WITH SIGNIFICANT HUMAN AND OTHER SUPPORT SERVICES INCLUDING BOARD SERVICE, STRATEGIC AND OPERATING SUPPORT, FINANCIAL, ORGANIZATIONAL, GOVERNANCE AND LEADERSHIP TRAINING THROUGHOUT THE FOUNDATION'S THREE-YEAR COMMITMENT TO EACH ORGANIZATION AS WELL AS A COMMUNITY NETWORK. BETWEEN INCEPTION AND DECEMBER 31, 2023, DRK HAS FUNDED AND SUPPORTED 237 SOCIAL IMPACT ORGANIZATIONS AROUND THE GLOBE.

    Expenses $9,781,548

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

Listed in Part VII

  • William H Draper III

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    8

  • Robin Richards Donohoe

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    8

  • Robert S Kaplan

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    8

  • James M Bildner

    CEO & BOARD MEMBER

    Total calculated
    $608,735
    From this org
    $505,200
    From related orgs
    $0
    Other
    $103,535
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $400,000
    Bonus
    $104,000
    Other
    $1,200
    Deferred
    $66,000
    Nontaxable benefits
    $37,535
    Filer's total
    $608,735

  • Zeryn Sarpangal

    CFO, CAO

    Total calculated
    $420,409
    From this org
    $321,845
    From related orgs
    $0
    Other
    $98,564
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $272,500
    Bonus
    $48,145
    Other
    $1,200
    Deferred
    $43,500
    Nontaxable benefits
    $55,064
    Filer's total
    $420,409

  • Nancy Huang

    CHIEF OF STAFF, TREASURER

    Total calculated
    $347,120
    From this org
    $282,064
    From related orgs
    $0
    Other
    $65,056
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $255,864
    Bonus
    $25,000
    Other
    $1,200
    Deferred
    $15,000
    Nontaxable benefits
    $50,056
    Filer's total
    $347,120

  • Lara Metcalf

    SENIOR MANAGING DIRECTOR

    Total calculated
    $319,062
    From this org
    $291,849
    From related orgs
    $0
    Other
    $27,213
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,649
    Bonus
    $40,000
    Other
    $1,200
    Deferred
    $25,000
    Nontaxable benefits
    $2,213
    Filer's total
    $319,062

  • Anika Warren

    OPERATING PTR, CHIEF ORG EFF OFFICER

    Total calculated
    $421,735
    From this org
    $321,200
    From related orgs
    $0
    Other
    $100,535
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $280,000
    Bonus
    $40,000
    Other
    $1,200
    Deferred
    $63,000
    Nontaxable benefits
    $37,535
    Filer's total
    $421,735

  • Holly Kuzmich

    MANAGING DIRECTOR

    Total calculated
    $319,060
    From this org
    $251,200
    From related orgs
    $0
    Other
    $67,860
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $0
    Other
    $1,200
    Deferred
    $50,000
    Nontaxable benefits
    $17,860
    Filer's total
    $319,060

  • Margo Drakos

    MANAGING DIRECTOR

    Total calculated
    $314,631
    From this org
    $235,367
    From related orgs
    $0
    Other
    $79,264
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,167
    Bonus
    $25,000
    Other
    $1,200
    Deferred
    $20,000
    Nontaxable benefits
    $59,264
    Filer's total
    $314,631

  • Oliver Rothschild

    MANAGING DIRECTOR

    Total calculated
    $286,937
    From this org
    $236,113
    From related orgs
    $0
    Other
    $50,824
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $230,923
    Bonus
    $4,190
    Other
    $1,000
    Deferred
    $12,810
    Nontaxable benefits
    $38,014
    Filer's total
    $286,937

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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

The filer's explanations (Part III)

PART I, LINE 1A
FOR CEO'S BUSINESS TRAVEL, FIRST CLASS MAY BE BOOKED FOR FLIGHTS WHEN BUSINESS CLASS IS NOT AVAILABLE. THE BENEFIT IS NOT TREATED AS TAXABLE COMPENSATION TO THE CEO.

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.

  • STICHTING DRAPER RICHARDS KAPLAN FOUNDATION

    501(C)(3) · GRANTMAKING · NL · controlled entity

    Directly controlled by DRAPER RICHARDS KAPLAN FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202433139349300948

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

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