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← PROTEUS FUND INC

Form 990 for tax year 2023

Filed by PROTEUS FUND INC.

What the amendment changed

Compared with the return it replaced , filed 14 November 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$73,102,909 changed to $72,042,119
Total expenses
$49,221,407 changed to $49,172,889
Contributions and grants received
$69,161,938 changed to $68,783,585
Program service revenue
$2,124,646 changed to $1,288,018
Investment income
$1,816,325 changed to $1,970,516
Total assets, end of year
$76,288,239 changed to $75,407,064
Total liabilities, end of year
$7,233,101 changed to $7,361,017
Net assets or fund balances, end of year
$69,055,138 changed to $68,046,047
Program services expenses
$41,313,729 changed to $41,265,211
Program service expenses (Part III)
$41,313,729 changed to $41,265,211

Totals

Total revenue
$72,042,119
Total expenses
$49,172,889
Contributions and grants received
$68,783,585
Grants paid
$21,796,906
Program service revenue
$1,288,018
Investment income
$1,970,516
Other revenue
$0
Total assets, end of year
$75,407,064
Total liabilities, end of year
$7,361,017
Net assets or fund balances, end of year
$68,046,047
Program services expenses (Part IX)
$41,265,211
Management and general expenses
$5,976,735
Fundraising expenses
$1,930,943
Program service expenses (Part III)
$41,265,211

Program services were 83.9% 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

    $68,783,585

  • 1g · Noncash contributions included above

    $32,036

  • 2a · Program service revenue: EARNED INCOME FROM CONSULTING

    total $1,288,018 · related or exempt $1,288,018

  • 3 · Investment income

    total $1,970,516 · excluded $1,970,516

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $21,796,906 · program services $21,796,906

  • 5 · Compensation of officers, directors and key employees

    total $751,349 · program services $319,671 · management and general $384,545 · fundraising $47,133

  • 7 · Other salaries and wages

    total $9,421,056 · program services $6,138,138 · management and general $2,097,286 · fundraising $1,185,632

  • 8 · Pension plan contributions

    total $1,006,955 · program services $540,175 · management and general $322,537 · fundraising $144,243

  • 9 · Other employee benefits

    total $1,155,189 · program services $619,695 · management and general $370,017 · fundraising $165,477

  • 10 · Payroll taxes

    total $849,920 · program services $455,935 · management and general $272,237 · fundraising $121,748

  • 11b · Fees: legal

    total $136,325 · program services $112 · management and general $136,213

  • 11c · Fees: accounting

    total $44,650 · management and general $44,650

  • 11g · Fees: other

    total $10,993,941 · program services $9,718,278 · management and general $1,011,154 · fundraising $264,509

  • 12 · Advertising and promotion

    total $231,165 · management and general $231,165

  • 13 · Office expenses

    total $663,399 · program services $377,329 · management and general $285,657 · fundraising $413

  • 14 · Information technology

    total $493,071 · program services $308,609 · management and general $184,462

  • 16 · Occupancy

    total $357,376 · program services $48,726 · management and general $308,650

  • 17 · Travel

    total $1,263,294 · program services $941,637 · management and general $319,869 · fundraising $1,788

  • 22 · Depreciation, depletion and amortization

    total $8,293 · management and general $8,293

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,135,929 · end of year $822,613

  • 2 · Savings and temporary cash investments

    beginning of year $34,485,889 · end of year $49,896,016

  • 3 · Pledges and grants receivable

    beginning of year $13,873,330 · end of year $21,168,927

  • 9 · Prepaid expenses and deferred charges

    beginning of year $324,349 · end of year $435,348

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

    $161,551

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

    $87,898

  • 10c · Land, buildings and equipment, net

    beginning of year $51,356 · end of year $73,653

  • 11 · Investments: publicly traded securities

    beginning of year $2,816,337 · end of year $2,334,871

  • 15 · Other assets

    beginning of year $567,209 · end of year $675,636

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,572,095 · end of year $6,899,955

  • 25 · Other liabilities

    beginning of year $628,749 · end of year $461,062

  • 27 · Net assets without donor restrictions

    beginning of year $5,755,770 · end of year $7,091,100

  • 28 · Net assets with donor restrictions

    beginning of year $39,297,785 · end of year $60,954,947

Mission and programs · 2023

Mission

PROTEUS FUND CONNECTS PHILANTHROPY TO THE FRONTLINES OF SOCIAL JUSTICE TO ADVANCE RACIAL, GENDER, QUEER, AND DISABILITY JUSTICE, AS WELL AS AN INCLUSIVE, FULLY REPRESENTATIVE DEMOCRACY.

Activities or mission (Part I)

PROTEUS FUND CONNECTS PHILANTHROPY TO THE FRONLINES OF SOCIAL JUSTICE TO ADVANCE RACIAL, GENDER, QUEER, AND DISABILITY JUSTICE, AND AN INCLUSIVE, FULLY REPRESENTATIVE DEMOCRACY.

  • PROTEUS FUND SPECIALIZES IN CONNECTING ENGAGED, MISSION-ALIGNED FUNDERS TO EACH OTHER AND TO GRANTEES THROUGH DONOR COLLABORATIVES. WE ALSO OFFER FISCAL SPONSORSHIP TO DYNAMIC SOCIAL JUSTICE INITIATIVES AS WELL AS DONOR AND GROUP ADVISED FUNDS ALIGNED WITH OUR MISSION, VISION, AND VALUES.

    Expenses $35,335,620 · Grants $18,851,545 · Revenue $1,687,168

  • PIPER FUND IS A DONOR COLLABORATIVE THAT BRINGS TOGETHER INDIVIDUAL DONORS AND FOUNDATIONS TO DEFEND DEMOCRATIC INSTITUTIONS AND THE RULE OF LAW. THE FUND CONNECTS AND RESOURCES GRASSROOTS ORGANIZATIONS DEDICATED TO PROTECTING OUR DEMOCRACY AND ENVISIONING REFORMS TO MAKE IT MORE INCLUSIVE AND REPRESENTATIVE.

    Expenses $3,520,339 · Grants $1,925,509 · Revenue $210,720

  • RIGHTS, INCLUSION, SOLIDARITY, AND EQUITY (RISE) TOGETHER FUND IS A DONOR COLLABORATIVE THAT BRINGS TOGETHER INDIVIDUAL DONORS AND FOUNDATIONS TO ADVANCE THE CIVIL RIGHTS AND FIGHT FOR FULL INCLUSION OF BLACK, AFRICAN, ARAB, MUSLIM, MIDDLE EASTERN, AND SOUTH ASIAN COMMUNITIES AND PROMOTE THEIR CONTRIBUTIONS TO DEMOCRACY, CULTURE, AND SOCIETY.

    Expenses $961,685 · Grants $103,196 · Revenue $157,112

  • Expenses $1,447,567 · Grants $916,656 · Revenue $69,646

As filed on the 2023 return.

Listed in Part VII

  • Paul Di Donato

    PRESIDENT & CEO

    Total calculated
    $419,078
    From this org
    $372,415
    From related orgs
    $0
    Other
    $46,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $372,415
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $46,663
    Filer's total
    $419,078

  • Emily Harris

    DIRECTOR DPF

    Total calculated
    $235,992
    From this org
    $199,960
    From related orgs
    $0
    Other
    $36,032
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,960
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $36,032
    Filer's total
    $235,992

  • Michael Jarvis

    DIRECTOR TAI

    Total calculated
    $234,636
    From this org
    $194,695
    From related orgs
    $0
    Other
    $39,941
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,695
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $39,941
    Filer's total
    $234,636

  • Amardeep Singh Bhalla

    VP OF PROGRAMMING

    Total calculated
    $236,938
    From this org
    $179,306
    From related orgs
    $0
    Other
    $57,632
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,306
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $57,632
    Filer's total
    $236,938

  • Beery Jimenez

    CHIEF OPERATING OFFICER

    Total calculated
    $227,735
    From this org
    $204,625
    From related orgs
    $0
    Other
    $23,110
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,625
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,110
    Filer's total
    $227,735

  • Eric Ward

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Natasha Minsker

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Odell Mays

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Nima Shirazi

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Ryan Alexander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Burns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Patricia Eng

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mai-Anh Tran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tia Oros Peters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Betsy Schmidt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rick Scott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tammy Dowley-Blackman

    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. 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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
10 November 2025
IRS schema version
2023v6.0
Source object
202513149349303316

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