Skip to content
Nonprofiteer
← KISCO FOUNDATION INC

Form 990 for tax year 2023

Filed by KISCO FOUNDATION INC.

Totals

Total revenue
$1,098,136
Total expenses
$1,967,064
Contributions and grants received
$365,000
Grants paid
$1,577,000
Program service revenue
$0
Investment income
$726,409
Other revenue
$6,727
Total assets, end of year
$18,476,432
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$18,476,432
Program services expenses (Part IX)
$1,820,066
Management and general expenses
$146,998
Fundraising expenses
$0
Program service expenses (Part III)
$1,820,066

Program services were 92.5% 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

    $365,000

  • 3 · Investment income

    total $502,867 · excluded $502,867

  • 7a · Gross sales of assets other than inventory

    securities $223,542

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

    securities $0

  • 7c · Gain or loss

    securities $223,542

  • 7d · Net gain or loss

    total $223,542 · excluded $223,542

  • 11a · Other revenue: KISCO'S TAX EXEMPT INV

    total $6,254 · excluded $6,254

  • 11b · Other revenue: KISCO'S TAX EXEMPT INV

    total $473 · excluded $473

  • 11e · Other revenue, total

    $6,727

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,577,000 · program services $1,577,000

  • 7 · Other salaries and wages

    total $83,924 · program services $60,000 · management and general $23,924

  • 10 · Payroll taxes

    total $10,103 · program services $7,589 · management and general $2,514

  • 11b · Fees: legal

    total $650 · management and general $650

  • 11c · Fees: accounting

    total $27,250 · management and general $27,250

  • 11g · Fees: other

    total $174,819 · program services $173,922 · management and general $897

  • 12 · Advertising and promotion

    total $170 · management and general $170

  • 13 · Office expenses

    total $785 · program services $201 · management and general $584

  • 14 · Information technology

    total $896 · program services $896

  • 23 · Insurance

    total $7,992 · program services $458 · management and general $7,534

  • 24a · Other expenses: PORTFOLIO DEDUCTIONS, K

    total $74,188 · management and general $74,188

  • 24b · Other expenses: FOREIGN TAXES ON K-1

    total $7,928 · management and general $7,928

  • 24c · Other expenses: LICENSING FEES

    total $1,359 · management and general $1,359

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,187,960 · end of year $803,837

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,868

  • 12 · Investments: other securities

    beginning of year $16,573,964 · end of year $17,672,595

  • 27 · Net assets without donor restrictions

    beginning of year $17,763,792 · end of year $18,476,432

Mission and programs · 2023

Mission

THE PRIMARY EXEMPT PURPOSE OF THE KISCO FOUNDATION, INC. IS TO PROVIDE TECHNICAL ASSISTANCE, ORGANIZATIONAL DEVELOPMENT, MANAGEMENT ASSISTANCE, AS WELL AS FINANCIAL SUPPORT IN THE FORM OF GRANTS AND LOANS TO OTHER 501(C)(3) PUBLIC CHARITIES. IN ADDITION, WITHIN ITS PRIMARY EXEMPT PURPOSE THE KISCO FOUNDATION CONTINUES WITH A CURRENT INITIATIVE WHICH IS "PROTECTING STUDENT VETERANS". THIS FUND'S MISSION IS TO DEFEND STUDENT VETERANS IN PURSUING THEIR EDUCATION GOALS AS WELL AS PROVIDE ASSISTANCE TO VETERANS WHO HAVE BEEN DEFRAUDED OR MISLED BY PROPRIETARY INSTITUTIONS.

Activities or mission (Part I)

THE PRIMARY EXEMPT PURPOSE IS CAPACITY BUILIDING AND ADMINISTRATIVE INFRASTRUCTURE FOR NEW OR GROWING 501 (C)(3) PUBLIC CHARITIES. FOCUSING ON SCIENCES, VETERAN AFFAIRS, ENVIRONMENTAL AND SOCIAL VENTURE CAPITAL ORGANIZATIONS.

  • THE NEW GI BILL ALLOWS VETERANS TO ATTEND THE COLLEGE OR VOCATIONAL SCHOOL OF THEIR CHOICE. UNFORTUNATELY, MANY VETERANS HAVE UNWITTINGLY BECOME VICTIMS OF PREDATORY PRACTICES BY A NUMBER OF FOR-PROFIT COLLEGES. PROBLEMS INCLUDE DECEPTIVE RECRUITING AND MARKETING, DELIVERY OF WEAK ACADEMIC CONTENT, LITTLE OR NO SUPPORT SERVICES, BURDENSOME STUDENT LOAN DEBT, AND INAPPROPRIATE OR UNDELIVERABLE PROMISES REGARDING JOBS, TRANSFER OF CREDITS AND CAREER PLACEMENT. THIS PROGRAM HELPS VETERANS, VICTIMS AND MILITARY FAMILIES TO BE CAREFUL CONSUMERS EVALUATING EDUCATIONAL OPPORTUNITIES AND STUDENT LOANS. WORKING WITH PARTNERS, THE KISCO PROGRAM ASSISTS VETERANS WHO HAVE EXCESSIVE STUDENT LOAN BURDENS, AND THROUGH 501(C) (3) PARTNERS AND VETERANS GROUPS, HELPS VETERANS TRANSITION TO CIVILIAN AND ACADEMIC LIFE AND SUCCEED IN HIGHER EDUCATION. BEYOND HOLDING ACCOUNTABLE THE INSTITUTIONS THAT SERVE VETERANS, WE WILL PROVIDE INFORMATION TO ALL APPROPRIATE AUDIENCES TO ASSIST VETERANS AND MILITARY FAMILIES IN MAKING INFORMED EDUCATION AND CAREER CHOICES.

    Expenses $570,066 · Grants $327,000

  • ANOTHER INITIATIVE OF THE FOUNDATION IS TO PROVIDE FINANCIAL, TECHNICAL AND STRATEGIC SUPPORT FOR THE EXPLORATION AND STUDY OF NON-PROFIT BUSINESS MODEL RELATED TO PROGRAMS IN NON-PROFIT JOURNALISM AND ITS APPLICATION TO COMMUNITY NEWSPAPERS AND NEWS ORGANIZATIONS WITHIN THE CONTEXT OF THE WORK OF JOURNALISTS, NEWSPAPERS AND NEWS ORGANIZATIONS FOR SMALL AND MEDIUM-SIZED COMMUNITIES. THIS INCLUDES PILOT PROGRAMS IN ENVIRONMENTAL JOURNALISM, FORUMS ON AFFORDABLE HOUSING, INTERNSHIPS FOR JOURNALISM STUDENTS, HISTORIC PRESERVATION PROJECTS ON FILM AND IN PRINT, AND COMMUNITY ARCHIVES. THESE COMMUNITY SERVICE MODELS SUPPORT THE EXEMPT ACTIVITIES CRITICAL TO THE SUCCESS OF A NON-PROFIT BUSINESS MODEL FOR SMALL COMMUNITY MEDIA ORGANIZATIONS.

    Expenses $1,250,000 · Grants $1,250,000

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

Listed in Part VII

  • Nancy McCabe

    DIRECTOR/PRESIDENT

    Total calculated
    $475,979
    From this org
    $0
    From related orgs
    $398,794
    Other
    $77,185
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $398,547 related
    Bonus
    $0
    Other
    $0 + $247 related
    Deferred
    $0 + $42,679 related
    Nontaxable benefits
    $0 + $34,506 related
    Filer's total
    $0 + $475,979 related
  • Jennifer Magnone

    DIRECTOR/SECRETARY/TREAS.

    Total calculated
    $0
    Hours/week
    2 + 1 related
  • Leslie Gordon Fagen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

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

None.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349305112

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.