Izumi Foundation: Nonprofit Profile, Financials & Form 990 (EIN 04-3439149)

Gretchen Stoddard’s $152K as Program Director is at the 53rd percentile of top reported officer pay among 3128 $1–10M health care 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.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Improves healthcare in developing countries by supporting programs for the world's poorest.

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3 programs · $2.0M · in their own filed words · FY2020

01

Healthcare Infrastructure

To support projects that strengthen local systems for delivering health care, as well as national and regional systems that support the provision of care at the local level.

$685Kprogram expense

02

Maternal and Neonatal Health

To support effective programs that sustain the lives of both the mother and the child, recognizing that newborn and maternal health and survival are closely linked.

$648Kprogram expense

03

Infectious Disease

To support projects that address infectious diseases with high morbidity and mortality.

$618Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 23 grants · $1.8M · 2020–2020

Social Good Fund INCCA · FY2020$263,000

Health & Development InternationalFY2020$195,000

Mali Health Organizing Project INCNC · FY2020$162,000

Mass General Brigham IncorporatedMA · FY2020$161,000

Last Mile HealthMA · FY2020$160,000

Mano a Mano International PartnersMN · FY2020$155,000

Himalayan Cataract Project INCVT · FY2020$143,000

Lifebox Foundation INCNY · FY2020$110,000

Komo Learning CentresAZ · FY2020$105,000

Clinica VerdeCA · FY2020$87,000

Amani Global WorksNY · FY2020$80,000

Direct ReliefCA · FY2020$20,000

Pivot Works INCMA · FY2020$12,000

Foundation for African Medicine and EducationCA · FY2020$12,000

The Carter Center INCGA · FY2020$10,000

Care 2 Communities INCMA · FY2020$10,000

Weema International INCMA · FY2020$10,000

Gardens for Health InternationalMA · FY2020$10,000

See all 23 grants →

By the numbers

The FY2020 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$2.8M

Ln 12

Investment incomeLn 3$2.8M

Money outPt IX

$3.0M

Ln 25

Programscol B$2.7M

Managementcol C$308K

Owns and owesPt X

$71.6M

net assets · Ln 32

Cash and savingsLn 1–2$4.3M

Total assetsLn 16$73.4M

LiabilitiesLn 26$1.8M

PeoplePt VI, VII

7

listed · VII A

PaidVII A1

Voting boardVI 1a3

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$2.8M

Gains on assetsLn 7$1.3M

Total revenueLn 12$2.8M

Assets in detailPt X, end of year

CashLn 1$279K

SavingsLn 2$4.0M

Cash and savings togetherLn 1–2$4.3M

InvestmentsLn 11–13$69.0M

Land, buildings, equipmentLn 10c$2K

Other assetsLn 15$92K

Total assetsLn 16$73.4M

LiabilitiesLn 26$1.8M

Net assetsLn 32$71.6M

OperationsPt I, VI

EmployeesI 52

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3More from this return

Abroad and in kindSch F, M

Grants to other countriesSch F Pt II–III$481K

4Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$3.4M	$4.3M
InvestmentsLn 11–13	$65.5M	$69.0M
Land, buildings, equipmentLn 10c	$0	$2K
Total assetsLn 16	$69.1M	$73.4M
LiabilitiesLn 26	$1.5M	$1.8M
Net assetsLn 32	$67.6M	$71.6M

5Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$2.3M	$2.3M
Other salaries and wagesLn 7	$196K	$196K
Pension plan contributionsLn 8	$20K	$20K
Other employee benefitsLn 9	$26K	$26K
Payroll taxesLn 10	$15K	$15K
Legal feesLn 11b	$16K		$16K
Accounting feesLn 11c	$25K		$25K
Investment management feesLn 11f	$190K		$190K
Other fees for servicesLn 11g	$3K		$3K
Office expensesLn 13	$53K	$42K	$10K
Information technologyLn 14	$7K	$5K	$2K
OccupancyLn 16	$178K	$132K	$46K
TravelLn 17	$11K	$11K
Conferences, conventions and meetingsLn 19	$11K	$2K	$9K
Depreciation, depletion and amortizationLn 22	$366		$366
InsuranceLn 23	$5K	$3K	$3K
Other expenses (24a–d)Ln 24	$3K		$3K
Total functional expensesLn 25	$3.0M	$2.7M	$308K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2020 Latest ViewingFiled with the IRS Apr 2, 2021	$2.8M	$3.0M	−$242K	$71.6M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $2,773,250 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $512,600$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $2,159,048$2,773,250

I-11 Other revenuePrior year $608$0

I-12 Total revenuePrior year $2,672,256$2,773,250

I-13 Grants and similar amounts paidPrior year $1,855,000$2,255,265

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $224,975$256,429

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $866,653$503,171

I-18 Total expensesPrior year $2,946,628$3,014,865

I-19 Revenue less expensesPrior year −$274,372−$241,615

Part VI · Governance 3 of 3 board members independent, 4 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members3

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $2,773,250 across 3 lines filed

VIII-3 Investment incomeExcluded from tax $1,464,550$1,464,550

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,308,700$1,308,700

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,773,250$2,773,250

Part IX · Statement of functional expenses $3,014,865 across 17 lines filed

IX-1 Grants to domestic organizationsPrograms $2,255,265$2,255,265

IX-7 Other salaries and wagesPrograms $195,792$195,792

IX-8 Pension plan contributionsPrograms $19,579$19,579

IX-9 Other employee benefitsPrograms $26,232$26,232

IX-10 Payroll taxesPrograms $14,826$14,826

IX-11b Legal feesManagement $16,411$16,411

IX-11c Accounting feesManagement $25,355$25,355

IX-11f Investment management feesManagement $190,108$190,108

IX-11g Other fees for servicesManagement $3,340$3,340

IX-13 Office expensesPrograms $42,489 · Management $10,456$52,945

IX-14 Information technologyPrograms $5,399 · Management $2,040$7,439

IX-16 OccupancyPrograms $132,019 · Management $45,571$177,590

IX-17 TravelPrograms $11,110$11,110

IX-19 Conferences, conventions and meetingsPrograms $1,710 · Management $8,864$10,574

IX-22 Depreciation, depletion and amortizationManagement $366$366

IX-23 InsurancePrograms $2,621 · Management $2,710$5,331

IX-24 Other expenses (24a–d)Management $2,602$2,602

IX-25 Total functional expensesPrograms $2,707,042 · Management $307,823 · Fundraising $0$3,014,865

Part X · Balance sheet $73,391,812 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $43,824$278,549

X-2 Savings and temporary cash investmentsStart of year $3,352,765$4,019,395

X-9 Prepaid expenses and deferred chargesStart of year $34,901$16,419

X-10c Land, buildings and equipment, netStart of year $0$1,832

X-11 Publicly traded securitiesStart of year $65,541,894$68,983,357

X-15 Other assetsStart of year $164,189$92,260

X-16 Total assetsStart of year $69,137,573$73,391,812

X-17 Accounts payable and accrued expensesStart of year $21,480$22,322

X-18 Grants payableStart of year $1,460,792$1,762,750

X-25 Other liabilitiesStart of year $40,889$28,594

X-26 Total liabilitiesStart of year $1,523,161$1,813,666

X-27 Net assets without donor restrictionsStart of year $67,614,412$71,578,146

X-32 Total net assets or fund balancesStart of year $67,614,412$71,578,146

X-33 Total liabilities and net assetsStart of year $69,137,573$73,391,812

Part XI · Reconciliation of net assets $71,578,146 net assets at year end

XI-1 Total revenue$2,773,250

XI-2 Total expenses$3,014,865

XI-3 Revenue less expenses−$241,615

XI-4 Net assets at start of year$67,614,412

XI-5 Net unrealized gains (losses) on investments$4,205,349

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$71,578,146

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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