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Nonprofiteer
← MOTLEY FOOL FOUNDATION

Form 990 for tax year 2022

Filed by MOTLEY FOOL FOUNDATION.

Totals

Total revenue
$652,399
Total expenses
$2,449,053
Contributions and grants received
$337,022
Grants paid
$185,740
Program service revenue
$0
Investment income
$315,377
Other revenue
$0
Total assets, end of year
$12,275,568
Total liabilities, end of year
$112,024
Net assets or fund balances, end of year
$12,163,544
Program services expenses (Part IX)
$948,512
Management and general expenses
$976,488
Fundraising expenses
$524,053
Program service expenses (Part III)
$948,512

Program services were 38.7% 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

    $337,022

  • 1g · Noncash contributions included above

    $82,580

  • 3 · Investment income

    total $287,769 · excluded $287,769

  • 7a · Gross sales of assets other than inventory

    securities $4,721,104

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

    securities $4,693,496

  • 7c · Gain or loss

    securities $27,608

  • 7d · Net gain or loss

    total $27,608 · excluded $27,608

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $180,740 · program services $180,740

  • 3 · Grants to foreign organizations and individuals

    total $5,000 · program services $5,000

  • 5 · Compensation of officers, directors and key employees

    total $802,032 · program services $264,670 · management and general $176,446 · fundraising $360,916

  • 7 · Other salaries and wages

    total $50,668 · program services $17,201 · management and general $11,665 · fundraising $21,802

  • 8 · Pension plan contributions

    total $10,863 · program services $2,076 · management and general $12,160 · fundraising -$3,373

  • 9 · Other employee benefits

    total $41,952 · program services $18,580 · management and general -$8,250 · fundraising $31,622

  • 10 · Payroll taxes

    total $61,731 · program services $16,948 · management and general $21,785 · fundraising $22,998

  • 11b · Fees: legal

    total $3,982 · program services $2,161 · management and general $90 · fundraising $1,731

  • 11c · Fees: accounting

    total $83,535 · management and general $83,535

  • 11f · Fees: investment management

    total $43,801 · management and general $43,801

  • 11g · Fees: other

    total $638,072 · program services $397,703 · management and general $240,369

  • 12 · Advertising and promotion

    total $283,892 · management and general $283,892

  • 13 · Office expenses

    total $9,437 · program services $985 · management and general $8,353 · fundraising $99

  • 14 · Information technology

    total $117,588 · program services $18,585 · management and general $32,242 · fundraising $66,761

  • 16 · Occupancy

    total $9,105 · program services $2,445 · management and general $3,212 · fundraising $3,448

  • 17 · Travel

    total $50,235 · program services $15,463 · management and general $21,364 · fundraising $13,408

  • 19 · Conferences, conventions and meetings

    total $17,576 · program services $5,332 · management and general $7,983 · fundraising $4,261

  • 22 · Depreciation, depletion and amortization

    total $19,342 · management and general $19,342

  • 23 · Insurance

    total $9,240 · management and general $9,240

  • 24a · Other expenses: CULTURE & TEAM BUILDING

    total $6,095 · program services $623 · management and general $5,092 · fundraising $380

  • 24b · Other expenses: REGISTR. & FILING FEES

    total $4,167 · management and general $4,167

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,679,684 · end of year $3,442,382

  • 3 · Pledges and grants receivable

    beginning of year $888,147 · end of year $272,688

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,792 · end of year $37,212

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

    $77,367

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

    $30,929

  • 10c · Land, buildings and equipment, net

    beginning of year $65,779 · end of year $46,438

  • 11 · Investments: publicly traded securities

    beginning of year $7,553,137 · end of year $8,226,842

  • 12 · Investments: other securities

    end of year $250,006

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,255 · end of year $33,044

  • 25 · Other liabilities

    beginning of year $86,190 · end of year $78,980

  • 27 · Net assets without donor restrictions

    beginning of year $12,177,947 · end of year $11,890,856

  • 28 · Net assets with donor restrictions

    beginning of year $888,147 · end of year $272,688

Mission and programs · 2022

Mission

THE FOUNDATION'S MISSION IS TO CREATE PATHWAYS TO FINANCIAL FREEDOM FOR THOSE LIVING PAYCHECK TO PAYCHECK. THE FOUNDATION IS A PUBLIC CHARITY THAT RELIES ON RAISING FUNDS FROM THE PUBLIC TO SCALE OUR PROGRAMS AND IMPACT.

Activities or mission (Part I)

THE FOUNDATION'S VISION IS FINANCIAL FREEDOM FOR ALL WITH A PURPOSE TO FIND, FUND, AND AMPLIFY INNOVATIVE SOLUTIONS THAT ENABLE STRIVERS TO BECOME THRIVERS. THE FOUNDATION STRATEGICALLY DEPLOYS ITS ASSETS TO DRIVE INNOVATIVE INVESTMENTS, ENGAGEMENT, AWARENESS, AND SUSTAINABILITY.

  • THE FOUNDATION'S PROGRAMS WERE FOCUSED ON ACHIEVING FINANCIAL FREEDOM FOR ALL. THE FOUNDATION BELIEVES THAT FIVE KEY DRIVERS ENABLE FINANCIAL FREEDOM FOR AMERICANS LIVING BETWEEN POVERTY AND WEALTH: EDUCATION, HEALTH, MONEY, WORK, AND HOUSING. THESE DRIVERS COMPRISE "THE SYSTEM, AND WHEN THEY WORK TOGETHER, PEOPLE ADVANCE FINANCIALLY. WHEN THEY DON'T, PEOPLE ARE LEFT BEHIND. OUR GOAL IS TO BREAK DOWN SILOS BETWEEN THESE DRIVERS AND THE BARRIERS HOLDING PEOPLE BACK. IT TAKES A SPECIAL KIND OF PERSON TO CREATE BREAKTHROUGHS, AND THE FOUNDATION IS WORKING TO FIND THEM, CONNECT THEM, LEARN FROM THEM, HELP THEM GO FURTHER AND FASTER WITH TARGETED INVESTMENTS, AND BY AMPLIFYING WHAT THEY DO. WE CALL THEM RULE BREAKERS. IN 2023, THE FOUNDATION CONTINUED TO INVEST IN INDIVIDUALS AND ORGANIZATIONS THAT IS IDENTIFIED AS "RULE BREAKERS". THESE RULE BREAKERS WORK ACROSS THE COUNTRY WITH THE UNBANKED AND UNDERBANKED, DEVELOPING BLACK RURAL ENTREPRENEURS, ACQUIRING AND PRESERVING AFFORDABLE HOUSING, INCREASING FINANCIAL FREEDOM FOR LOW-INCOME AND IMMIGRANT COMMUNITIES, GIVING SUPPORT TO UNDERREPRESENTED STUDENTS STRIVING FOR HIGHER EDUCATION, PROVIDING ENTREPRENEURSHIP TRAINING, DEVELOPING SUSTAINABLE TRANSPORTATION, AND PROVIDING ACCESS TO HEALTHY FOOD. THE GROUNDWORK WAS ALSO LAID TO FURTHER EXPAND THIS COHORT AND TO CONNECT THEM WITH EACH OTHER AND THE FOUNDATION'S COMMUNITIES.ADDITIONALLY, INFRASTRUCTURE WAS DEVELOPED TO FIND AND CONVENE A SET OF RULE BREAKERS AND COMMUNITY LEADERS IN ONE GEOGRAPHIC LOCATION TO DEVELOP SOLUTIONS ACROSS ALL FIVE DRIVERS TO PROVIDE EQUITABLE PATHWAYS TO FINANCIAL FREEDOM FOR AN ENTIRE POPULATION.

    Expenses $762,974 · Grants $185,740

  • THE FOUNDATION MADE A NUMBER OF SMALL GRANTS TO OTHER 501C3 ORGANIZATIONS THAT WORK WITHIN THE FIVE DRIVERS OF FINANCIAL FREEDOM AND IN CONJUNCTION WITH FOUNDATION VOLUNTEER EFFORTS AND TIME SPENT WITH EACH GRANTEE.

    Expenses $90,975

  • THE FOUNDATION CREATED THE SPARKS LAB ON ITS WEBSITE AS A PLACE TO POST CONTENT THAT RELATES TO INSIGHTS AROUND THE FIVE DRIVERS OF FINANCIAL FREEDOM AND FOR USE AS A PLACE TO RESEARCH, EXPLORE, AND LEARN ABOUT THEM. PART OF THE CONTENT IS A VIDEO SERIES CONTAINING CONVERSATIONS WITH THE FOUNDATION RULE BREAKERS AND OTHERS WORKING IN THE DRIVERS. THE FOUNDATION ALSO USES THIS SITE TO SOLICIT IDEAS FOR FUTURE WORK.

    Expenses $4,765

  • OTHER PROGRAM EXPENSES INCLUDED GENERAL AND ADMINISTRATIVE SUPPORT AND MARCOMM FOR EXISTING PROGRAMS, AND DEVELOPMENT EXPENSES FOR FUTURE PROGRAMS.

    Expenses $89,798

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Gardner

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ollen Douglass

    FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Margaret Gardner

    GOVERNANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Elaine Hungenberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sean Milliken

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Melissa Bradley

    BOARD MEMBER (AS OF 11/2022)

    Total calculated
    $0
    Hours/week
    1

  • Sylvia Sierra

    BOARD MEMBER (AS OF 11/2022)

    Total calculated
    $0
    Hours/week
    1

  • Bernita Bailey

    BOARD MEMBER (AS OF 05/2023)

    Total calculated
    $0
    Hours/week
    1

  • Neil Grayson

    BOARD MEMBER (AS OF 05/2023)

    Total calculated
    $0
    Hours/week
    1

  • Trish Costello

    BOARD MEMBER (UNTIL 05/2023)

    Total calculated
    $0
    Hours/week
    1

  • Neel Shah

    BOARD MEMBER (UNTIL 05/2023)

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Gennaro Oxley

    EXECUTIVE DIRECTOR

    Total calculated
    $285,764
    From this org
    $256,378
    From related orgs
    $0
    Other
    $29,386
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,771
    Bonus
    $1,500
    Other
    $43,107
    Deferred
    $12,706
    Nontaxable benefits
    $16,680
    Filer's total
    $285,764

  • Alan Tobias

    SECRETARY - UNTIL 03/2023

    Total calculated
    $155,001
    From this org
    $140,605
    From related orgs
    $0
    Other
    $14,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $97,538
    Bonus
    $1,500
    Other
    $41,567
    Deferred
    $5,852
    Nontaxable benefits
    $8,544
    Filer's total
    $155,001

  • Jeff Haslow

    TREASURER

    Total calculated
    $0
    Hours/week
    20 + 25 related

  • Martine Cruise

    SECRETARY (AS OF 03/2023)

    Total calculated
    $0
    Hours/week
    40

  • George Khalaf

    PROGRAM DIRECTOR

    Total calculated
    $245,277
    From this org
    $210,438
    From related orgs
    $0
    Other
    $34,839
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,000
    Bonus
    $500
    Other
    $4,938
    Deferred
    $10,763
    Nontaxable benefits
    $24,076
    Filer's total
    $245,277

  • Jackie Leach

    MAJOR GIFTS OFFICER

    Total calculated
    $121,212
    From this org
    $112,583
    From related orgs
    $0
    Other
    $8,629
    Hours/week
    40

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
DURING THE CALENDAR YEAR 2022, JENNIFER GENNARO OXLEY RECEIVED A NON-FIXED BONUS IN THE AMOUNT OF $1,000 PAID ON 4/1/2022 AND $500 PAID ON 9/22/2022. ALAN TOBIAS RECEIVED A NON-FIXED BONUS IN THE AMOUNT OF $1,000 PAID ON 4/1/2022 AND $500 PAID ON 9/22/2022. GEORGE KHALAF RECEIVED A NON-FIXED BONUS IN THE AMOUNT OF $500 PAID ON 9/22/2022. JACKIE LEACH RECEIVED A NON-FIXED BONUS IN THE AMOUNT OF $500 PAID ON 9/22/2022. ALL WERE DISCRETIONARY SPOT BONUSES DETERMINED BY THE EMPLOYEE'S DIRECT SUPERVISOR BASED ON A SPECIFIC RECOGNITION EVENT AND DETERMINED AFTER THE FACT.

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

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.

  • THE MOTLEY FOOL LLC

    FINANCIAL PUBLISHING · DE · income $0 · assets $0

    Directly controlled by THE MOTLEY FOOL HOLDINGS INC

Related corporations and trusts

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

  • THE MOTLEY FOOL HOLDINGS INC

    C · PARENT - HOLDING COMPANY · DE

Provenance

Return type
form_990
Tax year
2022
Filed
8 February 2024
IRS schema version
2022v5.0
Source object
202400409349300530

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