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Nonprofiteer
← MOTLEY FOOL FOUNDATION

Form 990 for tax year 2023

Filed by MOTLEY FOOL FOUNDATION.

Totals

Total revenue
$1,341,580
Total expenses
$2,974,709
Contributions and grants received
$981,438
Grants paid
$595,176
Program service revenue
$0
Investment income
$360,142
Other revenue
$0
Total assets, end of year
$13,467,055
Total liabilities, end of year
$935,843
Net assets or fund balances, end of year
$12,531,212
Program services expenses (Part IX)
$1,353,543
Management and general expenses
$1,024,313
Fundraising expenses
$596,853
Program service expenses (Part III)
$1,353,543

Program services were 45.5% 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

    $981,438

  • 1g · Noncash contributions included above

    $10,302

  • 3 · Investment income

    total $320,560 · excluded $320,560

  • 7a · Gross sales of assets other than inventory

    securities $2,500,154

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

    securities $2,460,572

  • 7c · Gain or loss

    securities $39,582

  • 7d · Net gain or loss

    total $39,582 · excluded $39,582

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $593,578 · program services $593,578

  • 3 · Grants to foreign organizations and individuals

    total $1,598 · program services $1,598

  • 5 · Compensation of officers, directors and key employees

    total $767,557 · program services $345,805 · management and general $271,356 · fundraising $150,396

  • 7 · Other salaries and wages

    total $279,793 · management and general $238,669 · fundraising $41,124

  • 8 · Pension plan contributions

    total $7,085 · management and general $5,699 · fundraising $1,386

  • 9 · Other employee benefits

    total $52,455 · program services $8,484 · management and general $28,431 · fundraising $15,540

  • 10 · Payroll taxes

    total $56,661 · program services $20,365 · management and general $24,315 · fundraising $11,981

  • 11a · Fees: management

    total $235,875 · program services $160,375 · fundraising $75,500

  • 11b · Fees: legal

    total $24,497 · program services $16,891 · management and general $7,402 · fundraising $204

  • 11c · Fees: accounting

    total $97,005 · management and general $97,005

  • 11f · Fees: investment management

    total $35,055 · management and general $35,055

  • 11g · Fees: other

    total $509,188 · program services $151,745 · management and general $181,164 · fundraising $176,279

  • 12 · Advertising and promotion

    total $19,698 · management and general $19,177 · fundraising $521

  • 13 · Office expenses

    total $4,574 · program services $501 · management and general $3,867 · fundraising $206

  • 14 · Information technology

    total $175,679 · program services $22,190 · management and general $45,542 · fundraising $107,947

  • 16 · Occupancy

    total $8,519 · program services $2,683 · management and general $4,930 · fundraising $906

  • 17 · Travel

    total $38,298 · program services $11,331 · management and general $13,700 · fundraising $13,267

  • 19 · Conferences, conventions and meetings

    total $3,246 · management and general $1,650 · fundraising $1,596

  • 22 · Depreciation, depletion and amortization

    total $22,922 · management and general $22,922

  • 23 · Insurance

    total $11,129 · management and general $11,129

  • 24a · Other expenses: PROGRAM EXPENSES

    total $17,997 · program services $17,997

  • 24b · Other expenses: BANK FEES

    total $8,303 · management and general $8,303

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

    total $3,997 · management and general $3,997

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,442,382 · end of year $2,088,531

  • 3 · Pledges and grants receivable

    beginning of year $272,688 · end of year $701,393

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,212 · end of year $47,654

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

    $101,346

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

    $53,851

  • 10c · Land, buildings and equipment, net

    beginning of year $46,438 · end of year $47,495

  • 11 · Investments: publicly traded securities

    beginning of year $8,226,842 · end of year $10,294,964

  • 12 · Investments: other securities

    beginning of year $250,006 · end of year $287,018

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,044 · end of year $301,049

  • 18 · Grants payable

    end of year $570,519

  • 25 · Other liabilities

    beginning of year $78,980 · end of year $64,275

  • 27 · Net assets without donor restrictions

    beginning of year $11,890,856 · end of year $11,858,118

  • 28 · Net assets with donor restrictions

    beginning of year $272,688 · end of year $673,094

Mission and programs · 2023

Mission

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. (SEE SCHEDULE O FOR CONTINUATION) THE FOUNDATION STRATEGICALLY DEPLOYS ITS ASSETS TO DRIVE INNOVATIVE INVESTMENTS, ENGAGEMENT, AWARENESS, AND SUSTAINABILITY. 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)

OUR MISSION IS TO CREATE PATHWAYS TO FINANCIAL FREEDOM FOR THOSE LIVING PAYCHECK TO PAYCHECK.

  • 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. WHEN THESE DRIVERS WORK TOGETHER, PEOPLE ADVANCE FINANCIALLY. WHEN THEY DON'T, PEOPLE ARE LEFT BEHIND. THE FOUNDATION DEVELOPED A FUNDING AND INVESTMENT PLAN FOR A VENTURE PHILANTHROPY IMPACT FUND, THE IMPACTFOOL FUND (OR IF FUND), TO OFFER A MORE COMPELLING DONOR PROPOSITION AND ACCELERATE AND EXPAND PROGRAMMING WITH OTHER VETTED 501(C)3S.FOR THE FUND, THE FOUNDATION IS APPLYING A VENTURE CAPITAL APPROACH TO FIND, FUND, AND SUPPORT INNOVATIVE NONPROFITS THAT HOLD GREAT PROMISE FOR IMPACT AT SCALE.THE FOUNDATION SEEKS TO IDENTIFY "DIAMONDS IN THE ROUGH, OR EARLY-STAGE NONPROFITS BETWEEN ONE AND TEN YEARS OLD THAT ARE TRANSITIONING FROM SUCCESSFUL STARTUPS TO ESTABLISHED ORGANIZATIONS AND HAVE INNOVATIVE MODELS POSITIONED FOR LARGE-SCALE IMPACT IN THE FIVE DRIVERS. CANDIDATES ARE SOURCED FROM THE PUBLIC, VETTED BY MULTIPLE TEAM MEMBERS, AND REVIEWED AND APPROVED BY A BOARD COMMITTEE AND THE BOARD.THE APPROVED ORGANIZATIONS ARE AWARDED A $300,000 UNRESTRICTED GRANT, DELIVERED AS $100,000 ANNUALLY OVER THE THREE-YEAR FELLOWSHIP. BY CREATING A SOLID FOUNDATION FOR THE FUTURE, IMPACTFOOL (IF) NONPROFITS CAN CONFIDENTLY EMBRACE GROWTH OPPORTUNITIES AND REALIZE THEIR TRUE POTENTIAL TO DELIVER MAXIMUM IMPACT AT SCALE.THE FOUNDATION PROVIDES EACH ORGANIZATION WITH AN IF SCALING PARTNER: A MEMBER OF OUR TEAM WITH DEEP EXPERTISE IN NONPROFIT MANAGEMENT AND SOCIAL IMPACT. THE IF SCALING PARTNER GETS HANDS-ON EXPERIENCE WORKING WITH THE CHOSEN NONPROFIT'S LEADERSHIP TO MEET IDENTIFIED NEEDS WITH EXPERTISE FROM THE MOTLEY FOOL STAFF, MEMBERS, AND OUTSIDE EXPERTS. THE FOUNDATION WILL HOST AN ANNUAL RETREAT OF IMPACTFOOL (IF) NONPROFIT LEADERS TO DEEPEN THE COLLABORATION AND KNOWLEDGE-SHARING BETWEEN LIKE-MINDED INNOVATORS.PLANNING AND FUNDRAISING OCCURRED THROUGHOUT FY24, CULMINATING IN TWO MULTI-YEAR GRANT AWARDS TOTALING $300,000 EACH. ADDITIONAL GRANTEES WILL BE SCREENED IN FY25.PRIOR TO THIS, A NATIONWIDE RULE BREAKER PROGRAM WAS ESTABLISHED TO FIND, FUND, AND AMPLIFY SOCIAL ENTREPRENEURS WHO WORK IN ONE OR MORE OF THE FIVE DRIVERS AND ARE MOVING THE NEEDLE WITH A PROVEN CONCEPT THAT'S READY TO SCALE. OUR GOAL WAS TO HELP THEM ON THEIR PATH TO MATURITY SO THAT THEY COULD BECOME LARGER, SCALED, MORE IMPACTFUL ORGANIZATIONS. THE PROGRAM CONCLUDED IN FY 2024 IN PREPARATION FOR A TRANSITION TO THE IF FUND, AND GRANTEES WERE MOVED TO ALUMNI STATUS.

    Expenses $1,041,556 · Grants $570,519

  • THE FOUNDATION BUILT ON EARLIER WORK TO CREATE A FINANCIAL FREEDOM ASSESSMENT TOOL. THE TOOL IS DESIGNED TO HELP INDIVIDUALS DETERMINE WHERE THEY ARE ON THE PATH TO FINANCIAL FREEDOM. IT BEGINS WITH A SURVEY THAT ASSESSES WHERE THE USER STANDS COMPARED TO A NATIONAL BENCHMARK STUDY CONDUCTED BY OUR PARTNERS AT THE FINANCIAL HEALTH NETWORK. IT THEN GENERATES A UNIQUE FINANCIAL FREEDOM SCORE FOR EACH OF THE FIVE MAJOR DRIVERS OF FINANCIAL FREEDOM: EDUCATION, HEALTH, HOUSING, MONEY, AND WORK. THIS SCORE WILL SERVE AS A LAUNCHING PAD FOR THE NEXT STEPS INDIVIDUALS CAN TAKE ON THEIR PATH TO FINANCIAL FREEDOM.THE FIRST PHASE IN FY24 INCLUDED DEVELOPING THE INITIAL MODEL, SURVEY QUESTIONS, AND SCORE GENERATION, CULMINATING IN A BETA TEST WITH OVER 6,000 USERS. FEEDBACK WAS OBTAINED FROM THE BETA TESTERS, INCLUDING THE USER EXPERIENCE, THOUGHTS ABOUT THE SCORE, AND IDEAS FOR THE EXPECTED NEXT STEPS. THE INPUT FROM THIS TEST IS BEING INCORPORATED INTO THE SECOND PHASE.THE SECOND PHASE IN FISCAL YEAR 2025 WILL PROVIDE USERS A GATEWAY TO PERSONALLY CURATED CONTENT THAT MEETS THEM WHERE THEY ARE AND MOVES THEM CLOSER TO FINANCIAL FREEDOM. THE TOOL WILL PROVIDE PERSONALIZED INSIGHTS AND LINKS TO TAILORED CONTENT TO GUIDE USERS ON ACTIONABLE STEPS TO IMPROVE THEIR FINANCIAL FREEDOM. ULTIMATELY, THE TOOL WILL BE PROVIDED FOR THE PUBLIC AND BUSINESS USERS.ULTIMATELY, THE TOOL WILL BE PROVIDED TO THE PUBLIC AND BUSINESS USERS.

    Expenses $168,939

  • THE FOUNDATION CREATED THE SPARKS SERIES 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 $34,313

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

    Expenses $108,735 · Grants $24,657

As filed on the 2023 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 + 9 related

  • 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

  • Sylvia Sierra

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • Bernita Bailey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Neil Grayson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jon Buddington

    BOARD MEMBER - AS OF 05/24

    Total calculated
    $0
    Hours/week
    1

  • Melissa Bradley

    BOARD MEMBER - UNTIL 11/24

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Gennaro Oxley

    EXEC. DIRECTOR - UNTIL 9/24

    Total calculated
    $301,037
    From this org
    $262,857
    From related orgs
    $0
    Other
    $38,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,511
    Bonus
    $1,000
    Other
    $38,346
    Deferred
    $13,411
    Nontaxable benefits
    $24,769
    Filer's total
    $301,037

  • George Khalaf

    INTERIM EXEC. DIRECTOR - AS OF 9/24

    Total calculated
    $254,481
    From this org
    $218,197
    From related orgs
    $0
    Other
    $36,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,869
    Bonus
    $1,000
    Other
    $7,328
    Deferred
    $12,593
    Nontaxable benefits
    $23,691
    Filer's total
    $254,481

  • Jeff Haslow

    TREASURER

    Total calculated
    $0
    Hours/week
    20 + 30 related

  • Tee-Era Turner

    SECRETARY - AS OF 09/24

    Total calculated
    $44,972
    From this org
    $41,731
    From related orgs
    $0
    Other
    $3,241
    Hours/week
    40

  • Martine Cruise

    SECRETARY - UNTIL 08/24

    Total calculated
    $106,026
    From this org
    $81,814
    From related orgs
    $0
    Other
    $24,212
    Hours/week
    40

  • Jackie Leach

    MAJOR GIFTS OFFICER

    Total calculated
    $184,766
    From this org
    $169,084
    From related orgs
    $0
    Other
    $15,682
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,729
    Bonus
    $0
    Other
    $7,355
    Deferred
    $6,540
    Nontaxable benefits
    $9,142
    Filer's total
    $184,766

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 · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
  • 4c · Equity-based compensation arrangement
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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 1A
ALL COMPENSATED PERSONS ARE ELIGIBLE FOR TAX GROSS-UP PAYMENTS, WHICH ARE INCLUDED IN TAXABLE COMPENSATION.
PART I, LINE 4C
ALL PERSONS BELOW PARTICIPATED IN AN EQUITY-BASED COMPENSATION ARRANGEMENT: -JENNIFER GENNARO OXLEY: $38,375 -GEORGE KHALAF: $4,553 -TEE-ERA TURNER: $20,488 -MARTINE CRUISE: $11,650
PART I, LINE 7
DURING CALENDAR YEAR 2023, THE FOLLOWING INDIVIDUALS RECEIVED A $1,000 NON-FIXED BONUS: JENNIFER GENNARO OXLEY, GEORGE KHALAF, MARTINE CRUISE. ALL WERE DISCRETIONARY SPOT BONUSES DETERMINED BY THE EMPLOYEE'S DIRECT SUPERVISOR BASED ON A SPECIFIC RECOGNITION EVENT AND DETERMINED AFTER THE FACT. THEY ARE NOT CONTINGENT ON PERFORMANCE OR OTHER CRITERIA.

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

    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
2023
Filed
31 January 2025
IRS schema version
2023v6.0
Source object
202530349349300128

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