Fund For Policy Reform
- Assets
- $3.3b
- Revenue
- $978.1m
- Investments
- $3.2b
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 05/2015
- Data as of
- 12/2023
- EIN
- 35-7090597
Organization Overview
Fund For Policy Reform is located in Wilmington, DE. The organization was established in 2015. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For Policy Reform is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Fund For Policy Reform generated $978.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 68.4% each year . All expenses for the organization totaled $331.0m during the year ending 12/2023. While expenses have increased by 7.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
TO PROMOTE SOCIAL WELFARE, THE COMMON GOOD AND THE GENERAL WELFARE OF PEOPLE IN COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL WELFARE GRANTS: IN 2023, FUND FOR POLICY REFORM MADE GRANTS FOR A TOTAL OF $327,000,000 TO SUPPORT GRANTEE'S OPERATIONS AND ACTIVITIES WHICH PROMOTE SOCIAL WELFARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Vachon Trustee | Trustee | 0.02 | $0 |
Maryann Canfield Trustee | Trustee | 0.02 | $0 |
Leonard Benardo Trustee | OfficerTrustee | 0.02 | $0 |
Alexander Soros Trustee | Trustee | 0.02 | $0 |
Name Not Listed Administrative Trustee | 0.02 | $25,760 | |
Catherine Livingston Secretary | Officer | 1.12 | $18,436 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kpmg Llp Accounting Fees | 12/30/23 | $160,429 |
Simpson Thacher Bartlett Llp Legal Fees | 12/30/23 | $121,379 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $978,123,206 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $978,123,206 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $327,000,000 |
| 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. | $25,760 |
| Compensation of current officers, directors, key employees. | $25,760 |
| 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 | $151,768 |
| Fees for services: Accounting | $169,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,394 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,454,773 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $81,556 |
| All other expenses | $0 |
| Total functional expenses | $330,970,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $62,328,456 |
| 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 | $1,313,050 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,193,239,813 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,256,881,319 |
| Accounts payable and accrued expenses | $181,635 |
| Grants payable | $15,000,000 |
| 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 | $83,537 |
| Total liabilities | $15,265,172 |
| Net assets without donor restrictions | $3,241,616,147 |
| 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 | $3,256,881,319 |
Grants Awarded
Over the last fiscal year, Fund For Policy Reform has awarded $271,500,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FUND FOR POLICY REFORM INC PURPOSE: PROMOTE SOCIAL WELFARE | $196,000,000 |
DEMOCRACY PAC PURPOSE: SUPPORT PAC | $75,500,000 |