Underdog Foundation EIN 03-0368814

Underdog Foundation

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Empowers nonprofits with mentoring and expertise to strengthen community work. For fiscal year 2024 it reported $96K in revenue, $87K in expenses, and $359K in net assets.Pt I

Type
Supporting organization · Community Development
Location
Island Pond, VT
Website
underdogventures.com/underdog-foundation
Filings
5 on file (2020–2024)
Revenue
$96KFY2024
Expenses
$87K
Net assets
$359K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  03-0368814 Supporting organization Island Pond, VT
Form 990 (PDF)
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Size
<$100K
What they do
Empowers nonprofits with mentoring and expertise to strengthen community work.
Leadership
David Berge · President/Sec
Money in and out
$96K revenue, $87K expenses
Bottom line
+9% net inflow
Money in and out · FY2024
Total revenue
$96K
Pt VIII · Ln 12
Total expenses
$87K
Pt IX · Ln 25
Net assets
$359K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $9K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.15
Net inflow
+9%
revenue over expenses, this year▲ +100% vs prior filing year
Pass-through gifts
94%
of revenue from contributions
Program spending
85%
of expenses reach stated programs▼ -3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$96K
FY2024▲ ×32
Expenses
$87K
FY2024▼ -19%
Total assets
$359K
FY2024▲ +3%
Total liabilities
$295
FY20240%
Total revenue
$96K
Pt VIII · Ln 12
Total expenses
$87K
Pt IX · Ln 25
Net assets
$359K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$9K
Total assetsPt X · Ln 16$359K
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $74K of program spending, described in the organization's own filed words · FY2024.
01

The Underdog Foundation's program in 2024 was to provide technical assistance, grants, mentoring and community investments in order to further our charitable mission, all of which is consistent with that of our supported organization.

$74Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUnderdog Foundation
EINHdr · item D03-0368814
Principal addressHdr · item CIsland Pond, VT
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S31)
Ruling yearIRS BMFMar 2002

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President/Sec
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

David Berge’s $22K as President/Sec is at the 61st percentile of top reported officer pay among 167 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
David Berge$22,500$135,000$135,000$133,927

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$90K · 94%
Other revenue$5K · 6%
Contributions & grants94%$90K
Other revenue6%$5K
Investment income$403
Total revenueLn 12$96K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.15
Program services85%$74K
Management & general15%$13K
Total functional expensesLn 25$87K

Balance Sheet

Part X · end of year
CashLn 1$235K
Total assetsLn 16$359K
Total liabilitiesLn 26$295
Total net assetsLn 32$359K
Months of cash on handcomputed32.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $349K · Operating expenses/yr $87K
48.3 months
Where the money goes
Program services
Program services $74K · Total expenses $87K
85%
Management & General
Management & general $13K · Total expenses $87K
15%
Fundraising
Fundraising $0 · Total expenses $87K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $30K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $90K · Total revenue $96K
94%
Government reliance
Government grants — · Total revenue $96K
Earned-income share
Program service revenue $0 · Total revenue $96K
0%
Investment reliance
Investment income $403 · Total revenue $96K
+0.4%
Program self-sufficiency
Program service revenue $0 · Total expenses $87K
0%
Growth & trend
Revenue growth (YoY)
This year $96K · Prior year $3K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $359K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $96K · Expenses $87K
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $359K
Net-asset ratio
Net assets $359K · Total assets $359K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $114K · Total assets (Pt X, ln 16) $359K
32%
People & payroll
Highest Reported Total Compensation
Individual David Berge · Reported title President/Sec · Highest reported compensation $0 · Total expenses $87K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $8K · Total expenses $87K
10%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 15%
Fundraising cost ratio 0%
Revenue growth ×32
Investment management fee ratio 0%
Legal fee ratio 8%
Accounting fee ratio 9%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 7 grants · $114K · 2020–2023
Community Food Cupboard INCVT · FY2023$20,000
Fractured Atlas INCNY · FY2022$7,000
People Power Initiatives INCVT · FY2021$25,000
People Power Initiatives INCVT · FY2020$21,475
Untours Foundation INCPA · FY2020$9,025
Tides FoundationCA · FY2020$7,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$96K revenue · viewing · ⤓ 990 PDF
FY2023$3K revenue · ⤓ 990 PDF
FY2022$7K revenue · ⤓ 990 PDF
FY2021$4K revenue · ⤓ 990 PDF
FY2020$12K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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