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Nonprofiteer
← FUND FOR POLICY REFORM

Form 990 for tax year 2023

Filed by FUND FOR POLICY REFORM.

Totals

Total revenue
$978,123,206
Total expenses
$330,970,053
Contributions and grants received
$0
Grants paid
$327,000,000
Program service revenue
$0
Investment income
$978,123,206
Other revenue
$0
Total assets, end of year
$3,256,881,319
Total liabilities, end of year
$15,265,172
Net assets or fund balances, end of year
$3,241,616,147
Program services expenses (Part IX)
$328,842,241
Management and general expenses
$2,127,812
Fundraising expenses
$0
Program service expenses (Part III)
$328,842,241

Program services were 99.4% 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.

  • 7a · Gross sales of assets other than inventory

    securities $1,159,908,956

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

    securities $181,785,750

  • 7c · Gain or loss

    securities $978,123,206

  • 7d · Net gain or loss

    total $978,123,206 · excluded $978,123,206

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $327,000,000 · program services $327,000,000

  • 5 · Compensation of officers, directors and key employees

    total $25,760 · management and general $25,760

  • 11b · Fees: legal

    total $151,768 · management and general $151,768

  • 11c · Fees: accounting

    total $169,535 · management and general $169,535

  • 11g · Fees: other

    total $43,394 · management and general $43,394

  • 20 · Interest

    total $3,454,773 · program services $1,837,620 · management and general $1,617,153

  • 23 · Insurance

    total $81,556 · program services $4,566 · management and general $76,990

  • 24a · Other expenses: REIMBURSE TO OSI

    total $42,487 · program services $55 · management and general $42,432

  • 24b · Other expenses: FILING FEES

    total $780 · management and general $780

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,426,400 · end of year $62,328,456

  • 9 · Prepaid expenses and deferred charges

    beginning of year $285,923 · end of year $1,313,050

  • 12 · Investments: other securities

    beginning of year $3,824,361,978 · end of year $3,193,239,813

  • 15 · Other assets

    beginning of year $67,634

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,658,421 · end of year $181,635

  • 18 · Grants payable

    beginning of year $76,700,000 · end of year $15,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $292,266,937

  • 25 · Other liabilities

    beginning of year $68,131,816 · end of year $83,537

  • 27 · Net assets without donor restrictions

    beginning of year $3,387,384,761 · end of year $3,241,616,147

Mission and programs · 2023

Mission

TO PROMOTE SOCIAL WELFARE, THE COMMON GOOD AND THE GENERAL WELFARE OF PEOPLE IN COMMUNITIES AROUND THE WORLD. (SEE SCH O)

Activities or mission (Part I)

TO PROMOTE SOCIAL WELFARE, THE COMMON GOOD AND THE GENERAL WELFARE OF PEOPLE IN COMMUNITIES

  • SOCIAL WELFARE GRANTS: IN 2023, FUND FOR POLICY REFORM MADE GRANTS FOR A TOTAL OF $327,000,000 TO SUPPORT GRANTEE'S OPERATIONS AND ACTIVITIES WHICH PROMOTE SOCIAL WELFARE.

    Expenses $328,842,241 · Grants $327,000,000

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

Listed in Part VII

  • Michael Vachon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.02 + 0.02 related

  • Maryann Canfield

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.02 + 0.02 related

  • Leonard Benardo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.02 + 0.02 related

  • Alexander Soros

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.02 + 0.02 related

  • Bryn Mawr Trust

    ADMINISTRATIVE TRUSTEE

    Total calculated
    $25,760
    From this org
    $25,760
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.02

  • Catherine Livingston

    SECRETARY

    Total calculated
    $40,941
    From this org
    $18,436
    From related orgs
    $18,436
    Other
    $4,069
    Hours/week
    1.12 + 1.12 related

  • Maija Arbolino

    TREASURER

    Total calculated
    $16,021
    From this org
    $1,433
    From related orgs
    $14,201
    Other
    $387
    Hours/week
    0.13 + 1.28 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.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FPR MANAGER LLC

    INVESTMENT · DE · income $0 · assets $0

    Directly controlled by FPR

  • FPR CAPITAL HOLDINGS LLC

    INVESTMENT · DE · income $0 · assets $4,828,464

    Directly controlled by FPR

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • QUANTUM ENDOWMENT CAYMAN FUND LIMITED

    C · INVESTMENT · CJ · 61.9% owned · share of income $171,629,395 · share of assets $1,524,878,822 · controlled entity

    Directly controlled by FPR

  • QUANTUM ENDOWMENT CAYMAN LIMITED

    C · INVESTMENT · CJ · 100% owned · share of income $144,158,122 · share of assets $1,253,793,184 · controlled entity

    Directly controlled by FPR

  • FPR INVESTMENT LTD

    C · INVESTMENT · CJ · 100% owned · share of assets $438,026,269 · controlled entity

    Directly controlled by FPR

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349312089

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