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Nonprofiteer
← EDWARD CHARLES FOUNDATION

Form 990 for tax year 2023

Filed by EDWARD CHARLES FOUNDATION.

Totals

Total revenue
$66,506,474
Total expenses
$52,303,147
Contributions and grants received
$66,223,177
Grants paid
$30,606,469
Program service revenue
$2,822,548
Investment income
$459,069
Other revenue
-$2,998,320
Total assets, end of year
$51,692,237
Total liabilities, end of year
$6,966,508
Net assets or fund balances, end of year
$44,725,729
Program services expenses (Part IX)
$49,262,660
Management and general expenses
$3,040,487
Fundraising expenses
$0
Program service expenses (Part III)
$49,262,660

Program services were 94.2% 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

    $4,312,057

  • 1e · Government grants (contributions)

    $635,521

  • 1f · All other contributions, gifts and grants

    $61,275,599

  • 1g · Noncash contributions included above

    $2,585,091

  • 2a · Program service revenue: FEE INCOME

    total $1,965,620 · related or exempt $1,965,620

  • 2b · Program service revenue: SERVICE INCOME

    total $856,928 · related or exempt $856,928

  • 3 · Investment income

    total $439,948 · excluded $439,948

  • 6a · Gross rents

    real property $19,200

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $19,200

  • 6d · Net rental income or loss

    total $19,200 · excluded $19,200

  • 7a · Gross sales of assets other than inventory

    securities $3,254,563

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

    securities $3,235,442

  • 7c · Gain or loss

    securities $19,121

  • 7d · Net gain or loss

    total $19,121 · excluded $19,121

  • 8a · Fundraising events: gross income

    $2,951,280

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

    $4,312,057

  • 8b · Fundraising events: direct expenses

    $5,968,800

  • 8c · Net income from fundraising events

    total -$3,017,520 · excluded -$3,017,520

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $21,999,748 · program services $21,999,748

  • 2 · Grants to domestic individuals

    total $480,094 · program services $480,094

  • 3 · Grants to foreign organizations and individuals

    total $8,126,627 · program services $8,126,627

  • 7 · Other salaries and wages

    total $3,973,286 · program services $3,558,564 · management and general $414,722

  • 10 · Payroll taxes

    total $542,285 · program services $499,179 · management and general $43,106

  • 11b · Fees: legal

    total $225,218 · program services $199,647 · management and general $25,571

  • 11c · Fees: accounting

    total $1,949,305 · program services $1,777,368 · management and general $171,937

  • 11g · Fees: other

    total $7,366,555 · program services $5,222,082 · management and general $2,144,473

  • 12 · Advertising and promotion

    total $10,950 · management and general $10,950

  • 13 · Office expenses

    total $21,074 · program services $5,455 · management and general $15,619

  • 14 · Information technology

    total $1,345,500 · program services $1,321,093 · management and general $24,407

  • 16 · Occupancy

    total $218,941 · program services $153,029 · management and general $65,912

  • 20 · Interest

    total $1,435 · program services $1,435

  • 22 · Depreciation, depletion and amortization

    total $1,676 · program services $1,676

  • 23 · Insurance

    total $124,466 · program services $35,661 · management and general $88,805

  • 24a · Other expenses: AWARENESS EVENT

    total $5,173,804 · program services $5,164,635 · management and general $9,169

  • 24b · Other expenses: BANK CHARGES

    total $666,162 · program services $663,212 · management and general $2,950

  • 24c · Other expenses: PRINT AND POSTAGE

    total $38,948 · program services $34,257 · management and general $4,691

  • 24d · Other expenses: LICENSES AND FEES

    total $25,792 · program services $18,893 · management and general $6,899

  • 24e · All other expenses

    total $11,281 · program services $5 · management and general $11,276

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $319,288 · end of year $485,722

  • 2 · Savings and temporary cash investments

    beginning of year $26,694,536 · end of year $40,341,394

  • 3 · Pledges and grants receivable

    beginning of year $1,527,260 · end of year $2,526,661

  • 4 · Accounts receivable

    beginning of year $375,182 · end of year $75,172

  • 9 · Prepaid expenses and deferred charges

    beginning of year $781,645 · end of year $548,472

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

    $9,050

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

    $9,050

  • 10c · Land, buildings and equipment, net

    beginning of year $1,676 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $4,835,984 · end of year $6,299,597

  • 12 · Investments: other securities

    beginning of year $499,000 · end of year $528,000

  • 14 · Intangible assets

    beginning of year $659,945 · end of year $746,915

  • 15 · Other assets

    beginning of year $163,278 · end of year $140,304

  • 17 · Accounts payable and accrued expenses

    beginning of year $616,514 · end of year $5,567,922

  • 18 · Grants payable

    beginning of year $848,466 · end of year $877,062

  • 24 · Unsecured notes and loans payable

    beginning of year $71,521 · end of year $290,607

  • 25 · Other liabilities

    beginning of year $202,275 · end of year $230,917

  • 27 · Net assets without donor restrictions

    beginning of year $944,474 · end of year $1,258,192

  • 28 · Net assets with donor restrictions

    beginning of year $33,174,544 · end of year $43,467,537

Mission and programs · 2023

Mission

TO ACT AS A FISCAL SPONSOR FOR VARIOUS CHARITABLE INITIATIVES AND TO HOLD CHARITABLE ASSETS FOR CHARITABLE PURPOSES.

Activities or mission (Part I)

FISCAL SPONSORSHIP OF CHARITABLE INITIATIVES.

  • SOLVE GNE FUNDS ACADEMIC AND MEDICAL RESEARCH RELATED TO THE DISEASE KNOWN AS AS "GNE MYOPATHY" TO HELP DEVELOP TREATMENTS AND A CURE.

    Expenses $6,336,319 · Grants $6,316,024

  • COSMOS IS AIMED AT HELPING HUMANITY THROUGH RESEARCH, FELLOWSHIPS, GRANTS AND EDUCATION.

    Expenses $3,925,010 · Grants $3,545,200

  • WORKINGNATIONS EDUCATES THE PUBLIC AND ASSISTS IN ALLEVIATING THE BURDENS OF THOSE WHO ARE POOR & UNEMPLOYED.

    Expenses $4,348,881 · Grants $4,213,478

  • SERVED AS FISCAL SPONSOR FOR OTHER ORGANIZATIONS TO PERFORM CHARITABLE PURPOSES.

    Expenses $34,652,450 · Grants $16,531,767

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

Listed in Part VII

  • Kent Seton

    CEO, CFO

    Total calculated
    $0
    Hours/week
    2

  • Kevin Grigorenko

    CTO

    Total calculated
    $0
    Hours/week
    1

  • Andrew Altsule

    SECRETARY

    Total calculated
    $0
    Hours/week
    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.

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
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349322901

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

The source document this was parsed from is served over the API, which is where bulk and document access live.