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Nonprofiteer
← ABLELIGHT FOUNDATION INC

Form 990 for tax year 2024

Filed by ABLELIGHT FOUNDATION INC.

Totals

Total revenue
$12,425,971
Total expenses
$106,694
Contributions and grants received
$6,377,092
Grants paid
$0
Program service revenue
$0
Investment income
$6,048,879
Other revenue
$0
Total assets, end of year
$131,356,408
Total liabilities, end of year
$5,440,478
Net assets or fund balances, end of year
$125,915,930
Program services expenses (Part IX)
$0
Management and general expenses
$106,694
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $6,377,092

  • 1g · Noncash contributions included above

    $3,515,366

  • 3 · Investment income

    total $2,589,529 · related or exempt $2,589,529 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $43,066,109 · other assets $0

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

    securities $39,606,759 · other assets $0

  • 7c · Gain or loss

    securities $3,459,350 · other assets $0

  • 7d · Net gain or loss

    total $3,459,350 · related or exempt $3,459,350 · unrelated business $0 · excluded $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 11b · Fees: legal

    total $7,572 · program services $0 · management and general $7,572 · fundraising $0

  • 11c · Fees: accounting

    total $1,500 · program services $0 · management and general $1,500 · fundraising $0

  • 21 · Payments to affiliates

    total $42,845 · management and general $42,845

  • 24a · Other expenses: Other

    total $54,777 · program services $0 · management and general $54,777 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,303,596 · end of year $2,936,335

  • 11 · Investments: publicly traded securities

    beginning of year $99,971,354 · end of year $116,428,134

  • 15 · Other assets

    beginning of year $10,521,923 · end of year $11,991,939

  • 17 · Accounts payable and accrued expenses

    beginning of year $192,916 · end of year $448,140

  • 25 · Other liabilities

    beginning of year $5,103,559 · end of year $4,992,338

  • 27 · Net assets without donor restrictions

    beginning of year $95,101,696 · end of year $106,718,541

  • 28 · Net assets with donor restrictions

    beginning of year $13,398,702 · end of year $19,197,389

Mission and programs · 2024

Mission

See description of mission at Schedule O supplemental information for Form 990, Part I, Line 1.

Activities or mission (Part I)

See schedule O.

  • THE CORPORATION IS A CHARITABLE, RELIGIOUS AND EDUCATIONAL ORGANIZATION, THE PURPOSE OF WHICH IS TO SOLICIT, HOLD, MANAGE, INVEST AND EXPEND ENDOWMENT FUNDS AND OTHER GIFTS, GRANTS AND BEQUESTS, WHETHER CONSISTING OF REAL OR PERSONAL PROPERTY, AND WHETHER SUBJECT TO DIRECTIONS OR CONDITIONS IMPOSED BY DONORS, EXCLUSIVELY FOR THE MAINTENANCE AND BENEFIT OF ABLELIGHT INC OF WATERTOWN, WISCONSIN AND SUCH OF ITS CHARITABLE, RELIGIOUS OR EDUCATIONAL PROGRAMS OR ACTIVITIES AS THE BOARD OF DIRECTORS OF THIS CORPORATION FROM TIME TO TIME DEEM TO BE SUITABLE AND APPROPRIATE.

As filed on the 2024 return.

Listed in Part VII

  • Keith Jones

    PRESIDENT AND CEO

    Total calculated
    $686,376
    From this org
    $0
    From related orgs
    $620,798
    Other
    $65,578
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $485,000 related
    Bonus
    $0 + $135,798 related
    Other
    $0
    Deferred
    $0 + $34,422 related
    Nontaxable benefits
    $0 + $31,156 related
    Filer's total
    $0 + $686,376 related

  • Jeffrey Kaczmarski

    VP AND CHIEF LEGAL OFFICER

    Total calculated
    $417,403
    From this org
    $0
    From related orgs
    $367,154
    Other
    $50,249
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $309,400 related
    Bonus
    $0 + $57,754 related
    Other
    $0
    Deferred
    $0 + $37,773 related
    Nontaxable benefits
    $0 + $12,476 related
    Filer's total
    $0 + $417,403 related

  • Brian Savoie

    VP AND CHIEF FINANCIAL OFFICER

    Total calculated
    $399,892
    From this org
    $0
    From related orgs
    $333,016
    Other
    $66,876
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,000 related
    Bonus
    $0 + $53,016 related
    Other
    $0
    Deferred
    $0 + $35,713 related
    Nontaxable benefits
    $0 + $31,163 related
    Filer's total
    $0 + $399,892 related

  • Diane Ekstrand

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $363,728
    From this org
    $0
    From related orgs
    $296,685
    Other
    $67,043
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,016 related
    Bonus
    $0 + $46,669 related
    Other
    $0
    Deferred
    $0 + $35,767 related
    Nontaxable benefits
    $0 + $31,276 related
    Filer's total
    $0 + $363,728 related

  • John Carreon

    VP AND CHIEF ADVANCEMENT OFFICER

    Total calculated
    $349,602
    From this org
    $0
    From related orgs
    $298,829
    Other
    $50,773
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,163 related
    Bonus
    $0 + $46,666 related
    Other
    $0
    Deferred
    $0 + $19,089 related
    Nontaxable benefits
    $0 + $31,684 related
    Filer's total
    $0 + $349,602 related

  • Juli Frank

    CHIEF OPERATING OFFICER

    Total calculated
    $331,428
    From this org
    $0
    From related orgs
    $287,529
    Other
    $43,899
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,846 related
    Bonus
    $0 + $43,683 related
    Other
    $0
    Deferred
    $0 + $32,215 related
    Nontaxable benefits
    $0 + $11,684 related
    Filer's total
    $0 + $331,428 related

  • Sonal Shukla

    AREA VICE PRESIDENT

    Total calculated
    $243,618
    From this org
    $0
    From related orgs
    $226,196
    Other
    $17,422
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,385 related
    Bonus
    $0 + $36,196 related
    Other
    $0 + $14,615 related
    Deferred
    $0 + $6,165 related
    Nontaxable benefits
    $0 + $11,257 related
    Filer's total
    $0 + $243,618 related

  • John Nickels

    CORPORATE AND DONOR ENGAGEMENT OFFICER

    Total calculated
    $208,315
    From this org
    $0
    From related orgs
    $179,269
    Other
    $29,046
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,269 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $20,467 related
    Nontaxable benefits
    $0 + $8,579 related
    Filer's total
    $0 + $208,315 related

  • Kathy Burke

    AREA VICE PRESIDENT

    Total calculated
    $188,697
    From this org
    $0
    From related orgs
    $174,035
    Other
    $14,662
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,688 related
    Bonus
    $0 + $9,347 related
    Other
    $0
    Deferred
    $0 + $6,091 related
    Nontaxable benefits
    $0 + $8,571 related
    Filer's total
    $0 + $188,697 related

  • Randall Odzer

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Malcolm Conner

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Jim Rymarcsuk

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Thor Misko

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Timothy Vaughn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • Will Coughlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Robert Sigler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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)

Schedule J, Part I, Line 3
THE BOARD OF DIRECTORS EXECUTIVE COMMITTEE HAS AN EXECUTIVE COMPENSATION SUBCOMMITTEE THAT SERVES AS A COMPENSATION COMMITTEE WITH THE DUTY TO REVIEW AND MAKE FINDINGS AS TO THE REASONABLENESS OF (I) THE COMPENSATION PAID AND BENEFITS PROVIDED TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, AND (II) THE RECOMMENDATIONS OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER FOR THE COMPENSATION RANGES AND BENEFIT LEVELS FOR THE CHIEF LEGAL OFFICER, THE CHIEF FINANCIAL OFFICER, THE CHIEF OPERATING OFFICER, THE CHIEF HUMAN RESOURCES OFFICER, THE CHIEF ADVANCEMENT OFFICER AND ALL OTHER PERSONS WHOM IT DETERMINES TO BE IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE CORPORATION WITHIN THE MEANING OF SECTION 4958 OF THE INTERNAL REVENUE CODE ("DISQUALIFIED PERSONS"). IN DOING SO IT (1) IDENTIFIES ALL DISQUALIFIED PERSONS; (2) PERIODICALLY (TYPICALLY ANNUALLY, BUT AT LEAST IN EVERY ODD-NUMBER YEAR) REVIEWS AND DETERMINES THE REASONABLENESS OF THE COMPENSATION AND BENEFIT LEVELS OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER; (3) PERIODICALLY (TYPICALLY ANNUALLY, BUT AT LEAST IN EVERY ODD-NUMBER YEAR) REVIEWS AND DETERMINES THE REASONABLENESS OF THE RECOMMENDATIONS OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER FOR THE COMPENSATION RANGES AND BENEFIT LEVELS OF OTHER DISQUALIFIED PERSONS; (4) CONSIDERS ALL INCENTIVES, PERQUISITES, DEFERRED COMPENSATION AND ANYTHING OF VALUE WHEN CONSIDERING THE REASONABLENESS OF COMPENSATION OR BENEFIT LEVELS; (5) OBTAINS FROM SOURCES OUTSIDE THE CORPORATION OBJECTIVE, MARKET COMPARABLE COMPENSATION AND BENEFIT LEVEL DATA; (6) DOCUMENTS ITS CONSIDERATIONS AND DETERMINATIONS IN WRITTEN REPORTS; AND (7) AT LEAST ANNUALLY REPORT ITS ACTIVITIES AND FINDINGS TO THE BOARD OF DIRECTORS.
Schedule J, Part I, Line 4
SONAL SHUKLA SEVERANCE- $14,615

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

No itemized grants to organizations 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
2024
Filed
15 July 2026
IRS schema version
2024v5.0
Source object
202601969349302160

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