The Uscib Foundation INC

Tax-deductible

New York, NY501(c)(3)Foundations & GrantmakersEIN 13-3234953Revenue $566K in FY2024

On file with the IRSuscouncilfoundation.org1212 Avenue of the Americas, 10036-1602 · New York, NYTax-exempt since Jun 1986Supporting org, Type II — 509(a)(3)

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Promote research and education designed to advance the benefits of a free market economy.

501(c)(3) charity; gifts are tax-deductible.
42¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $10K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
42%
of spending
Concern: 42% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $300K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$269K
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$566K
+25% vs prior year
Spent
$509K
To programs
42%
Net assets
$144K
By yearFY2020–FY2024
Revenue
$566K
FY2024▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$105K
FY2021$323K
FY2022$461K
FY2023$452K
FY2024$566K
Expenses
$509K
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$177K
FY2021$308K
FY2022$379K
FY2023$485K
FY2024$509K
Net assets
$144K
FY2024▲ +65%
Tap a bar for its year
Net assets by fiscal year
FY2020$23K
FY2021$38K
FY2022$121K
FY2023$87K
FY2024$144K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1986.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

42 cents of each dollar spent went to programs.

Program services 42% · $213K Management & general 58% · $296K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President & Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Uscib Foundation INC executive salaries →

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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 15aYes

Programs and updates

Promotes research and education to advance free market economic benefits.

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Provided by the organization

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3 programs · $213K · in their own filed words · FY2024
01

The foundation launched the business pact for the future, a business initiative to accelerate implementation of the un 2030 sustainable development agenda, a centerpiece of the summit of the future ("sotf"). The business pact calls for an all-of-society approach to achieve the un's global goals and to promote public-private partnerships.

$77Kprogram expense
02

The project on data privacy in the metaverse and immersive technologies is led by business at oecd (biac) and the united states council for international business foundation. The project examines the extent to which the metaverse and relevant immersive technologies pose unique privacy and data protection issues, and how these issues can…

$77Kprogram expense
03

The foundation assisted the biac health committee's stronger together initiative to connect the outcomes of the oecd health ministerial and the oecd health committee program of work. This two-year initiative will provide evidence and insights to support the oecd health committee's work and promote health resilience as a key strategy in…

$59Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$300K
Grants paid · 1 grant · $10K · 2022–2022
Texas A&m FoundationTX · FY2022$10,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$566K
Ln 12
Gifts and grantsLn 1h$566K
Money outPt IX
$509K
Ln 25
Programscol B$213K
Managementcol C$296K
Owns and owesPt X
$144K
net assets · Ln 32
Cash and savingsLn 1–2$411K
Total assetsLn 16$413K
LiabilitiesLn 26$269K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$566K
Total revenueLn 12$566K
Assets in detailPt X, end of year
CashLn 1$411K
Cash and savings togetherLn 1–2$411K
Other assetsLn 15$0
Total assetsLn 16$413K
LiabilitiesLn 26$269K
Net assetsLn 32$144K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$231K$411K
Total assetsLn 16$331K$413K
LiabilitiesLn 26$243K$269K
Net assetsLn 32$87K$144K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$170K$170K
Other employee benefitsLn 9$53K$53K
Other fees for servicesLn 11g$170K$107K$63K
Advertising and promotionLn 12$7K$5K$2K
Office expensesLn 13$3K$3K
TravelLn 17$16K$14K$2K
Conferences, conventions and meetingsLn 19$87K$87K
Other expenses (24a–d)Ln 24$4K$36$4K
Total functional expensesLn 25$509K$213K$296K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $566K$509K$57K$144K 990 PDF
FY2023 $452K$485K−$33K$87K 990 PDF
FY2022 $461K$379K$82K$121K 990 PDF
FY2021 $323K$308K$15K$38K 990 PDF
FY2020 $105K$177K−$72K$23K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $565,547 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $451,760$565,547
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $451,760$565,547
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$222,800
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $485,151$285,964
I-18 Total expensesPrior year $485,151$508,764
I-19 Revenue less expensesPrior year −$33,391$56,783
Part VI · Governance 6 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $565,547 across 4 lines filed
VIII-1d Related organizations$300,000
VIII-1f All other contributions, gifts and grants$265,547
VIII-1h Total contributions, gifts and grants$565,547
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$565,547
Part IX · Statement of functional expenses $508,764 across 8 lines filed
IX-7 Other salaries and wagesManagement $169,615$169,615
IX-9 Other employee benefitsManagement $53,185$53,185
IX-11g Other fees for servicesPrograms $106,534 · Management $63,480$170,014
IX-12 Advertising and promotionPrograms $5,050 · Management $2,200$7,250
IX-13 Office expensesManagement $2,694$2,694
IX-17 TravelPrograms $14,107 · Management $1,538$15,645
IX-19 Conferences, conventions and meetingsPrograms $86,803$86,803
IX-24 Other expenses (24a–d)Programs $36 · Management $3,522$3,558
IX-25 Total functional expensesPrograms $212,530 · Management $296,234 · Fundraising $0$508,764
Part X · Balance sheet $412,519 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $230,945$411,293
X-4 Accounts receivable$1,226
X-15 Other assetsStart of year $99,629$0
X-16 Total assetsStart of year $330,574$412,519
X-17 Accounts payable and accrued expensesStart of year $29,698$56,377
X-19 Deferred revenueStart of year $213,699$212,124
X-25 Other liabilitiesStart of year $0$58
X-26 Total liabilitiesStart of year $243,397$268,559
X-27 Net assets without donor restrictionsStart of year $87,177$143,960
X-32 Total net assets or fund balancesStart of year $87,177$143,960
X-33 Total liabilities and net assetsStart of year $330,574$412,519
Part XI · Reconciliation of net assets $143,960 net assets at year end
XI-1 Total revenue$565,547
XI-2 Total expenses$508,764
XI-3 Revenue less expenses$56,783
XI-4 Net assets at start of year$87,177
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$143,960

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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