Ieee Foundation Inc
- Assets
- $72.4m
- Revenue
- $9.1m
- Investments
- $85.8k
- Employees
- 0
- Location
- Piscataway, NJ
- Founding
- 06/1973
- Data as of
- 12/2021
- EIN
- 23-7310664
Organization Overview
Ieee Foundation Inc is located in Piscataway, NJ. The organization was established in 1973. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ieee Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Ieee Foundation Inc generated $9.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $4.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Ieee Foundation Inc has awarded 204 individual grants totaling $17,847,889. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE IEEE FOUNDATION ENABLES IEEE PROGRAMS THAT TRANSFORM LIVES VIA TECHNOLOGY AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENERGIZE: INNOVATION BY CELEBRATING TECHNOLOGICAL AND ACADEMIC EXCELLENCE. THE IEEE AWARDS PROGRAM DOES THIS THROUGH THE PRESENTATION OF RECOGNITIONS (MEDALS, AWARDS AND SERVICE RECOGNITIONS) TO HUNDREDS OF INDIVIDUALS FOR LIFE TRANSFORMING WORK. IEEE-ETA KAPPA NU, THE HONOR SOCIETY OF IEEE, PROMOTES EXCELLENCE IN THE PROFESSION AND IN EDUCATION THROUGH AN EMPHASIS ON SCHOLARSHIP, CHARACTER AND ATTITUDE.
EDUCATE: EDUCATING THE NEXT GENERATION OF INNOVATORS AND ENGINEERS BY NOURISHING STUDENTS THROUGH ACADEMIC OPPORTUNITIES SUCH AS SCHOLARSHIPS, FELLOWSHIPS, TRAVEL GRANTS AND MENTORING, AND INTRODUCING PRE-UNIVERSITY STUDENTS TO STEM AND THE HISTORY OF TECHNOLOGY THROUGH DELIVERY OF CLASSROOM CURRICULUM, HANDS-ON EXPERIENCES, LIBRARY SCIENCE KITS AND INTERACTIVE WORKSHOPS. PROGRAMS INCLUDE IEEE PES SCHOLARSHIP PLUS INITIATIVE, IEEE REACH (RAISING ENGINEERING AWARDS THROUGH THE CONDUIT OF HISTORY), AND SCIENCE KITS FOR PUBLIC LIBRARIES.
ILLUMINATE: HIGHLIGHT THE POSSIBILITIES OF TECHNOLOGY BY USING IT TO ADDRESS GLOBAL CHALLENGES THROUGH DELIVERY AND DEPLOYMENT OF INNOVATIVE SUSTAINABLE PROJECTS THAT BRING ELECTRICITY, COMMUNICATION, EDUCATION AND HOPE THROUGHOUT THE WORLD. PROGRAMS INCLUDE IEEE SMART VILLAGE, EPICS IN IEEE, IEEE-USA MOVE, EMPOWER A BILLION LIVES AND IEEE SIGHT.
ENGAGE : INTRODUCE AND INVOLVE A WIDER AUDIENCE IN APPRECIATING THE VALUE AND IMPORTANCE OF ENGINEERING AND TECHNOLOGY THROUGH WORK OF THE IEEE HISTORY CENTER TO RECORD, ARCHIVE AND EDUCATE THE PUBLIC ABOUT THE NATURE OF TECHNOLOGY AND ITS RELATIONSHIP, BOTH PAST AND PRESENT, TO SOCIETY. THE LIFE MEMBERS FUND SUPPORTS NEW AND EXCITING OPPORTUNITIES FOR YOUNG ENGINEERS WITH ENGINEERING EDUCATION AND WORKFORCE DEVELOPMENT, APPLYING TECHNOLOGY FOR HUMANITARIAN CAUSES AND PRESERVING THE HISTORY OF TECHNOLOGY
ENERGIZE: INNOVATION BY CELEBRATING TECHNOLOGICAL AND ACADEMIC EXCELLENCE. THE IEEE AWARDS PROGRAM DOES THIS THROUGH THE PRESENTATION OF RECOGNITIONS (MEDALS, AWARDS AND SERVICE RECOGNITIONS) TO HUNDREDS OF INDIVIDUALS FOR LIFE TRANSFORMING WORK. IEEE-ETA KAPPA NU, THE HONOR SOCIETY OF IEEE, PROMOTES EXCELLENCE IN THE PROFESSION AND IN EDUCATION THROUGH AN EMPHASIS ON SCHOLARSHIP, CHARACTER AND ATTITUDE.
EDUCATE: EDUCATING THE NEXT GENERATION OF INNOVATORS AND ENGINEERS BY NOURISHING STUDENTS THROUGH ACADEMIC OPPORTUNITIES SUCH AS SCHOLARSHIPS, FELLOWSHIPS, TRAVEL GRANTS AND MENTORING, AND INTRODUCING PRE-UNIVERSITY STUDENTS TO STEM AND THE HISTORY OF TECHNOLOGY THROUGH DELIVERY OF CLASSROOM CURRICULUM, HANDS-ON EXPERIENCES, LIBRARY SCIENCE KITS AND INTERACTIVE WORKSHOPS. PROGRAMS INCLUDE IEEE PES SCHOLARSHIP PLUS INITIATIVE, IEEE REACH (RAISING ENGINEERING AWARDS THROUGH THE CONDUIT OF HISTORY), AND SCIENCE KITS FOR PUBLIC LIBRARIES.
ILLUMINATE: HIGHLIGHT THE POSSIBILITIES OF TECHNOLOGY BY USING IT TO ADDRESS GLOBAL CHALLENGES THROUGH DELIVERY AND DEPLOYMENT OF INNOVATIVE SUSTAINABLE PROJECTS THAT BRING ELECTRICITY, COMMUNICATION, EDUCATION AND HOPE THROUGHOUT THE WORLD. PROGRAMS INCLUDE IEEE SMART VILLAGE, EPICS IN IEEE, IEEE-USA MOVE, EMPOWER A BILLION LIVES AND IEEE SIGHT.
ENGAGE : INTRODUCE AND INVOLVE A WIDER AUDIENCE IN APPRECIATING THE VALUE AND IMPORTANCE OF ENGINEERING AND TECHNOLOGY THROUGH WORK OF THE IEEE HISTORY CENTER TO RECORD, ARCHIVE AND EDUCATE THE PUBLIC ABOUT THE NATURE OF TECHNOLOGY AND ITS RELATIONSHIP, BOTH PAST AND PRESENT, TO SOCIETY. THE LIFE MEMBERS FUND SUPPORTS NEW AND EXCITING OPPORTUNITIES FOR YOUNG ENGINEERS WITH ENGINEERING EDUCATION AND WORKFORCE DEVELOPMENT, APPLYING TECHNOLOGY FOR HUMANITARIAN CAUSES AND PRESERVING THE HISTORY OF TECHNOLOGY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Ford 1st Vp/vp Dev | OfficerTrustee | 4 | $0 |
David Ggreen Secretary | OfficerTrustee | 4 | $0 |
Fred Mintzer Treasurer | OfficerTrustee | 4 | $0 |
John R Treichler President | OfficerTrustee | 4 | $0 |
Marko Delimar VP Programs | OfficerTrustee | 4 | $0 |
Stephen Welby Assistant Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,406,815 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,267,005 |
| Noncash contributions included in lines 1a–1f | $16,664 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,673,820 |
| Total Program Service Revenue | $0 |
| Investment income | $1,064,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $312,557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,050,639 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,058,525 |
| Grants and other assistance to domestic individuals. | $408,028 |
| Grants and other assistance to Foreign Orgs/Individuals | $358,544 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $13,500 |
| Fees for services: Investment Management | $101,099 |
| Fees for services: Other | $712,593 |
| Advertising and promotion | $11,503 |
| Office expenses | $277,633 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,434 |
| Travel | $41,742 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,775 |
| All other expenses | $0 |
| Total functional expenses | $4,066,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,803,328 |
| Savings and temporary cash investments | $12,994,728 |
| Pledges and grants receivable | $2,624,436 |
| Accounts receivable, net | $264,611 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $78,110 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $49,573,973 |
| Investments—other securities | $85,805 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,977,975 |
| Total assets | $72,402,966 |
| Accounts payable and accrued expenses | $221,781 |
| Grants payable | $654,593 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $433,151 |
| Total liabilities | $1,309,525 |
| Net assets without donor restrictions | $19,203,533 |
| Net assets with donor restrictions | $51,889,908 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $72,402,966 |
Grants Awarded
Over the last fiscal year, Ieee Foundation Inc has awarded $3,751,852 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
Piscataway, NJ PURPOSE: EDUCATIONAL GRANT | $1,669,899 |
Piscataway, NJ PURPOSE: EDUCATIONAL GRANT | $1,669,899 |
Cambridge, MA PURPOSE: EDUCATIONAL GRANT | $22,500 |
Cambridge, MA PURPOSE: EDUCATIONAL GRANT | $22,500 |
ARIZONA STATE UNIV PURPOSE: EDUCATIONAL GRANT | $22,000 |
ARIZONA STATE UNIV PURPOSE: EDUCATIONAL GRANT | $22,000 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Ieee Foundation Inc has recieved totaling $244,813.
| Awarding Organization | Amount |
|---|---|
Palo Hills Foundation Cupertino, CA PURPOSE: UNDESIGNATED | $105,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $38,117 |
Liora And Levy Gerzberg Family Foundation Los Altos, CA PURPOSE: FOR THE JAMES D. MEINDL EDUCATIONAL FUND WHICH WILL BE USED TO NURTURE, ENCOURAGE AND CELEBRATE STUDENT AND EARLY CAREER INNOVATORS IN THE FIELD OF SOLID-STATE CIRCUITS. | $25,050 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $14,820 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $13,000 |
Samueli Foundation Corona Del Mar, CA PURPOSE: GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $47,484,897 |
| Earnings | $4,846,377 |
| Admin Expense | $311,644 |
| Net Contributions | $6,601,459 |
| Other Expense | $113,527 |
| Grants | $2,282,407 |
| Ending Balance | $56,225,155 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |
Elevate 215 Philadelphia, PA | $9,991,857 | $10,518,985 |
Meged Shomayim Airmont, NY | $573,750 | $8,461,954 |
Nli Usa Inc New York, NY | $11,341,396 | $10,639,057 |
Excellence Community Schools Inc Bronx, NY | $14,097,138 | $10,250,785 |