Group Of 50 Foundation Inc is located in Washington, DC. The organization was established in 2011. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Group Of 50 Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Group Of 50 Foundation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Group Of 50 Foundation Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE GROUP OF 50 IS AN INDEPENDENT, NON-PROFIT ORGANIZATION AND HAS NO PARTISAN, IDEOLOGICAL, RELIGIOUS OR COMMERCIAL AFFILIATIONS OF ANY KIND. ITS MEMBERS ARE SELECTED NOT ONLY FOR THE SUCCESS OF THEIR ENTERPRISES, BUT ALSO FOR THEIR COMMITMENT TO DEMOCRACY AND THEIR IMPECCABLE REPUTATION FOR ETHICAL BUSINESS BEHAVIOR; THE G50 MEMBERS ARE ALSO SOME OF THE LEADING PHILANTHROPISTS IN THE WESTERN HEMISPHERE. THE G50'S ANNUAL MEETINGS HAVE BECOME A LEADING FORUM FOR EXCHANGING IDEAS AND EXPERIENCES IN RESPONSE TO THE POLITICAL, ECONOMIC AND SOCIAL TRENDS AFFECTING IBEROAMERICA AND THE WORLD. THE GROUP ALSO INCLUDES THE MILLENNIUM LEADERS OF THE GROUP OF 50 (ML50), A SELECT GROUP OF ENTREPRENEURS UNDER 40 WHO ARE ALREADY INFLUENTIAL BUSINESS FIGURES IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING - THE G50 HOSTS AN ANNUAL MEETING (IN-PERSON OR VIRTUALLY) WITH LEADING THINKERS FROM DISCIPLINES THAT RANGE FROM ECONOMICS, GEOPOLITICS, HEALTHCARE, THE ARTS, THE ENVIRONMENT, AND BUSINESS STRATEGY, AMONG MANY OTHER TOPICS. OVER THE COURSE OF THESE MULTI-DAY FORUMS, MEMBERS ENGAGE IN MEANINGFUL DEBATE ACROSS A BROAD SET OF ISSUES. THESE INTIMATE, OFF-THE-RECORD, AND ENGAGING GATHERINGS HAVE ALLOWED FOR THE GROWTH OF A DYNAMIC NETWORK OF OUTSTANDING BUSINESS LEADERS AS WELL AS A FLUID EXCHANGE OF INNOVATIVE AND SOCIALLY FOCUSED BUSINESS PRACTICES WHICH ARE SPREAD THROUGHOUT THE WESTERN HEMISPHERE. FOR OVER MORE THAN TWO DECADES, THE G50 HAS HAD THE PRIVILEGE OF HOSTING SOME OF THE WORLD'S MOST DISTINGUISHED SPEAKERS AT ITS ANNUAL GATHERINGS; THESE INCLUDE FORMER HEADS OF STATE, NOBEL LAUREATES, PRIZE-WINNING AUTHORS, TOP BUSINESS EXECUTIVES, RENOWNED GLOBAL PHILANTHROPISTS, LEADING SCIENTIFIC RESEARCHERS AND INNOVATORS, AND INFLUENTIAL FIGURES IN THE ARTS. THE MEETINGS FOSTER COLLABORATION BETWEEN LEADERS IN AN ATTEMPT TO SOLVE SOME OF THE WORLD'S MOST PRESSING CHALLENGES.
G50 MEMBERSHIP DUES - THE G50 MEMBERSHIP IS COMPOSED OF A SELECT GROUP OF BUSINESS LEADERS WHO HEAD SOME OF THE MOST SUCCESSFUL AND DYNAMIC ENTERPRISES IN IBEROAMERICA. G50 MEMBERS ARE: A) HIGHLY REGARDED IN THEIR HOME COUNTRIES AND INTERNATIONALLY, AND REPRESENT A WIDE RANGE OF SECTORS, POLITICAL VIEWS, AND PROFESSIONAL EXPERIENCES; B) EXECUTIVES IN POSITIONS OF GREAT RESPONSIBILITY, ATTAINED THROUGH INDIVIDUAL MERIT IN COMPANIES IMPORTANT TO THE REGION; C) INDIVIDUALS WHO ARE RECOGNIZED FOR THEIR INTELLECTUAL ACHIEVEMENTS AND MORAL INTEGRITY BY IMPORTANT NATIONAL AND INTERNATIONAL MEDIA OUTLETS, ACADEMIC INSTITUTIONS, AND PROMINENT BUSINESS FORUMS; D) ENTREPRENEURS WHO UNDERSTAND THAT IN ADDITION TO GENERATING PROFITS, THEIR BUSINESS STRATEGIES MUST ALSO BE DIRECTED AT CORRECTING SOME OF THE SOCIAL AILMENTS AND INEQUALITIES OF THE HEMISPHERE; AND E) LEADERS WHO REMAIN COMMITTED TO THE DEVELOPMENT OF THEIR COUNTRIES AND IN STRENGTHENING THE FLOW OF IDEAS BETWEEN THEIR COMMUNITIES AND THE REST OF IBEROAMERICA. MEMBERSHIP IN THE G50 IS BY INVITATION ONLY.
GRANTS TO OTHER ORGANIZATIONS - THE G50 SUPPORTS OTHER NONPROFIT ORGANIZATIONS OPERATING IN LATIN AMERICA BY PROVIDING DONATIONS, INCLUDING THOSE FOCUSED ON EDUCATION, ALIVIATION OF POVERTY, AND THE ENVIROMENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Marianella Morales Executive Director | Officer | 50 | $108,483 |
Moises Naim Chairman | Officer | 5 | $38,591 |
Andres Naim Treasurer | OfficerTrustee | 5 | $0 |
Francisco J Gonzalez Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $273,000 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $115,376 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $388,376 |
Total Program Service Revenue | $732,414 |
Investment income | $24,523 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,145,313 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $35,000 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $163,357 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $59,261 |
Pension plan accruals and contributions | $329 |
Other employee benefits | $5,733 |
Payroll taxes | $13,840 |
Fees for services: Management | $0 |
Fees for services: Legal | $986 |
Fees for services: Accounting | $6,004 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $244,858 |
Advertising and promotion | $0 |
Office expenses | $55,698 |
Information technology | $10,967 |
Royalties | $0 |
Occupancy | $5,729 |
Travel | $39,161 |
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 | $1,726 |
Insurance | $2,639 |
All other expenses | $443,328 |
Total functional expenses | $1,088,616 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $861,602 |
Savings and temporary cash investments | $1,521,809 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $4,602 |
Net Land, buildings, and equipment | $4,661 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $1,888 |
Other assets | $0 |
Total assets | $2,394,562 |
Accounts payable and accrued expenses | $1,653 |
Grants payable | $0 |
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 | $0 |
Total liabilities | $1,653 |
Net assets without donor restrictions | $2,392,909 |
Net assets with donor restrictions | $0 |
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 | $2,394,562 |