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← AFF FOUNDATION

Form 990 for tax year 2024

Filed by AFF FOUNDATION.

Totals

Total revenue
$4,144,747
Total expenses
$4,557,753
Contributions and grants received
$2,244,543
Grants paid
$0
Program service revenue
$1,542,134
Investment income
$36,355
Other revenue
$321,715
Total assets, end of year
$4,882,188
Total liabilities, end of year
$797,238
Net assets or fund balances, end of year
$4,084,950
Program services expenses (Part IX)
$2,706,071
Management and general expenses
$1,744,707
Fundraising expenses
$106,975
Program service expenses (Part III)
$2,706,071

Program services were 59.4% 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.

  • 1f · All other contributions, gifts and grants

    $2,244,543

  • 2a · Program service revenue: MANAGEMENT FEE

    total $1,542,134 · related or exempt $1,542,134

  • 3 · Investment income

    total $36,355 · excluded $36,355

  • 11a · Other revenue: ROADRUNNER

    total $321,715 · related or exempt $321,715

  • 11e · Other revenue, total

    $321,715

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $170,240 · program services $130,831 · management and general $34,636 · fundraising $4,773

  • 7 · Other salaries and wages

    total $1,786,658 · program services $1,373,063 · management and general $363,505 · fundraising $50,090

  • 8 · Pension plan contributions

    total $93,568 · program services $71,908 · management and general $19,037 · fundraising $2,623

  • 9 · Other employee benefits

    total $201,454 · program services $154,819 · management and general $40,987 · fundraising $5,648

  • 10 · Payroll taxes

    total $116,077 · program services $89,206 · management and general $23,617 · fundraising $3,254

  • 11b · Fees: legal

    total $489,979 · program services $2,111 · management and general $487,564 · fundraising $304

  • 11c · Fees: accounting

    total $142,602 · program services $10,000 · management and general $132,602

  • 11d · Fees: lobbying

    total $45,000 · program services $15,000 · fundraising $30,000

  • 11g · Fees: other

    total $594,180 · program services $451,420 · management and general $142,660 · fundraising $100

  • 12 · Advertising and promotion

    total $72,300 · program services $38,572 · management and general $33,042 · fundraising $686

  • 13 · Office expenses

    total $815 · program services $53 · management and general $762

  • 14 · Information technology

    total $176,130 · program services $43,529 · management and general $132,561 · fundraising $40

  • 16 · Occupancy

    total $81,881 · program services $203 · management and general $81,678

  • 17 · Travel

    total $220,127 · program services $188,156 · management and general $22,514 · fundraising $9,457

  • 19 · Conferences, conventions and meetings

    total $102,184 · program services $102,184

  • 22 · Depreciation, depletion and amortization

    total $19,208 · management and general $19,208

  • 23 · Insurance

    total $44,160 · program services $1,246 · management and general $42,914

  • 24a · Other expenses: BAD DEBT

    total $150,000 · program services $0 · management and general $150,000 · fundraising $0

  • 24b · Other expenses: MISCELLANEOUS

    total $36,931 · program services $28,428 · management and general $8,503 · fundraising $0

  • 24c · Other expenses: PRINTING, POSTAGE, DELI

    total $6,910 · program services $3,165 · management and general $3,745 · fundraising $0

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,828 · program services $1,411 · management and general $2,417 · fundraising $0

  • 24e · All other expenses

    total $3,521 · program services $766 · management and general $2,755

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,426,379 · end of year $3,362,984

  • 3 · Pledges and grants receivable

    beginning of year $2,467,234 · end of year $960,039

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,560 · end of year $84,441

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

    $58,050

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

    $41,001

  • 10c · Land, buildings and equipment, net

    beginning of year $33,712 · end of year $17,049

  • 12 · Investments: other securities

    end of year $456,427

  • 15 · Other assets

    beginning of year $114,816 · end of year $1,248

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,501,941 · end of year $797,238

  • 25 · Other liabilities

    beginning of year $84,519 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,879,609 · end of year $2,370,523

  • 28 · Net assets with donor restrictions

    beginning of year $641,632 · end of year $1,714,427

Mission and programs · 2024

Mission

AMERICA'S FRONTIER FUND WAS CREATED AS A MISSION-DRIVEN PLATFORM TO ENSURE AMERICA IS THE BEST PLACE FOR INNOVATORS TO REACH FOR NEW FRONTIERS.

Activities or mission (Part I)

AMERICA'S FRONTIER FUND WAS CREATED AS A MISSION-DRIVEN PLATFORM TO (CONTINUED SCHEDULE O) (CONTINUED FROM PART I) ENSURE AMERICA IS THE BEST PLACE FOR INNOVATORS TO REACH FOR NEW FRONTIERS.

  • IN 2024, AFF FOUNDATION (AFF) FOCUSED ITS ACTIVITIES ON (1) "NEW FRONTIERS" - BUILDING REGIONAL INNOVATION ECOSYSTEMS ACROSS THE UNITED STATES THROUGH POLICY IMPLEMENTATION SUPPORT, INNOVATION STRATEGY CONSULTING, UPSKILLING AND WORKFORCE DEVELOPMENT ACTIVITIES, RESEARCH, AND THOUGHT LEADERSHIP; (2) "GLOBAL FRONTIERS" - SUPPORTING THE TECH DIPLOMACY EFFORTS OF THE U.S. GOVERNMENT BY FOSTERING INTERNATIONAL RELATIONSHIPS THROUGH THE QUAD INVESTORS NETWORK WHICH INCLUDES REPRESENTATIVES FROM INDIA, JAPAN, AUSTRALIA, AND THE UNITED STATES, AND SOLVING CHALLENGES THAT DISPROPORTIONATELY AFFECT THE GLOBAL SOUTH VIA THE PARTNERSHIP FOR DIGITAL ACCESS IN AFRICA (PDAA); AND (3) "ENDLESS FRONTIERS" - CONVENING EVENTS, (CONTINUED SCHEDULE O) (CONTINUED FROM PART III) COMPETITIONS, MEDIA ACTIVITIES, AND OTHER INITIATIVES THAT PROMOTE COLLABORATION BETWEEN INDUSTRY EXECUTIVES, POLICYMAKERS, SCIENTISTS, FUNDERS, AND INVESTORS FOCUSED ON THE INTERSECTION OF FRONTIER TECHNOLOGY AND THE NATIONAL INTEREST.

    Expenses $2,706,071 · Revenue $1,863,849

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • GILMAN LOUIE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $57,828
    From this org
    $29,121
    From related orgs
    $25,067
    Other
    $3,640
    Hours/week
    30 + 10 related

  • MARIANNE WINKLER

    CFO AND TREASURER

    Total calculated
    $13,230
    From this org
    $0
    From related orgs
    $12,533
    Other
    $697
    Hours/week
    10 + 30 related

  • J MICHAEL MCQUADE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOANNE ISHAM

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER PAHLKA

    DIRECTOR & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • NICK BEIM THRU 102024

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SAM PALMISANO

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD KANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LESLIE A BRUN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIGNON CLYBURN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CLIFF SOBEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN HURLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUZANNE NORA JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC BRAVERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RYAN NOLAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JORDAN BLASHEK

    PRESIDENT & CHIEF OPERATIN

    Total calculated
    $156,074
    From this org
    $82,031
    From related orgs
    $45,833
    Other
    $28,210
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $82,031 + $45,833 related
    Bonus
    $0
    Other
    $0
    Deferred
    $7,583
    Nontaxable benefits
    $20,627
    Filer's total
    $110,241 + $45,833 related

  • FARAN NOURI

    GENERAL PARTNER

    Total calculated
    $339,762
    From this org
    $296,566
    From related orgs
    $0
    Other
    $43,196
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,566
    Bonus
    $0
    Other
    $0
    Deferred
    $16,126
    Nontaxable benefits
    $27,070
    Filer's total
    $339,762

  • MICHAEL TAXAY

    GENERAL COUNSEL

    Total calculated
    $214,748
    From this org
    $201,108
    From related orgs
    $0
    Other
    $13,640
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,108
    Bonus
    $0
    Other
    $0
    Deferred
    $12,000
    Nontaxable benefits
    $1,640
    Filer's total
    $214,748

  • KEVIN MCGINNIS

    SPECIAL ADVISOR

    Total calculated
    $214,018
    From this org
    $200,378
    From related orgs
    $0
    Other
    $13,640
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,378
    Bonus
    $0
    Other
    $0
    Deferred
    $12,000
    Nontaxable benefits
    $1,640
    Filer's total
    $214,018

  • ZACHARY BEECHER

    HEAD OF STRATEGIC PARTNERS

    Total calculated
    $227,514
    From this org
    $200,336
    From related orgs
    $0
    Other
    $27,178
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,336
    Bonus
    $0
    Other
    $0
    Deferred
    $12,000
    Nontaxable benefits
    $15,178
    Filer's total
    $227,514

  • ALEXANDER EL-FAKIR

    HEAD OF OPERATIONS

    Total calculated
    $221,800
    From this org
    $173,034
    From related orgs
    $0
    Other
    $48,766
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,034
    Bonus
    $0
    Other
    $0
    Deferred
    $10,800
    Nontaxable benefits
    $37,966
    Filer's total
    $221,800

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 · Form 990 of other organizations
  • 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
AT TIMES, CERTAIN SENIOR EMPLOYEES AND DIRECTORS WERE PROVIDED FIRST-CLASS OR CHARTER TRAVEL.
PART I, LINE 7
FROM TIME TO TIME, THE CEO WILL APPROVE BONUSES TO SELECTED STAFF

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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349300912

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