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KPMG U S Foundation INC FY2021 filing

Tax-deductible

Montvale, NJ501(c)(3)Since 1992Public Safety & DisasterEIN 22-3263347Revenue $15.8M in FY2021

On file with the IRS3 Chestnut Ridge Rd, 07645-1842 · Montvale, NJTax-exempt since Jan 1994Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $2.3M a year · 10% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.3M
59% of total assets
Fine: liabilities are 59% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 13 voting members
Concern: none of 13 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.8M
-8% vs prior year
Spent
$14.1M
To programs
99%
Net assets
$3.0M
By yearFY2020–FY2025
Revenue
$15.8M
FY2021▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$17.1M
FY2021$15.8M
FY2022$21.3M
FY2023$26.7M
FY2024$26.5M
FY2025$29.2M
Expenses
$14.1M
FY2021▼ -21%
Tap a bar for its year
Expenses by fiscal year
FY2020$17.8M
FY2021$14.1M
FY2022$20.0M
FY2023$29.2M
FY2024$32.7M
FY2025$36.3M
Net assets
$3.0M
FY2021▲ +126%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$3.0M
FY2022$4.3M
FY2023$3.3M
FY2024−$2.3M
FY2025−$8.4M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1994.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $14.0M Management & general 1% · $92K

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

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Blane Ruschak
President & Director
$0Pt VII · Sec A
James Powell
Treasurer & Director
$0Pt VII · Sec A
Fiona Grandi
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tracy Kenny
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See KPMG U S 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 15aNo

Programs and updates

Supports lifelong learning through charitable grants and programs that foster educational opportunities and workforce development from childhood through adulthood.

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Provided by the organization

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1 program · $14.0M · in their own filed words · FY2020
01

See schedule o

$14.0Mprogram 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 · FY2025
Roman Catholic Foundation of Eastern MissouriFY2025$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 2,232 grants · $136.0M · 2019–2024
Junior Achievement USACO · FY2024$2,212,100
First BookDC · FY2024$2,002,000
National Board for Professional Teaching Standards INCVA · FY2024$1,350,000
Globalgiving Foundation INCDC · FY2024$1,029,186
Year Up INCMA · FY2024$750,000
Fountain House INCNY · FY2024$750,000
Beyond Housing INCMO · FY2024$700,000
NAMI NationalVA · FY2024$675,000
Northwell Health FoundationNY · FY2024$650,000
Unitemized GrantFY2024$645,010
Whitman-Walker Foundation INCDC · FY2024$600,000
Mental Health Leadership Initiative INCMA · FY2024$600,000
DC Cap (ai Grant)DC · FY2024$600,000
Child Mind Institute INCNY · FY2024$600,000
The Village for Families & Children INCCT · FY2024$555,000
Robert W Woodruff Arts Center INCGA · FY2024$525,000
Coop Careers INCNY · FY2024$525,000
National Council for Behavioral HealthDC · FY2024$450,000
See all 2,232 grants →

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15.8M
Ln 12
Gifts and grantsLn 1h$15.8M
Investment incomeLn 3$2K
Money outPt IX
$14.1M
Ln 25
Programscol B$14.0M
Managementcol C$92K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$7.2M
Total assetsLn 16$7.3M
LiabilitiesLn 26$4.3M
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15.8M
Investment incomeLn 3$2K
Total revenueLn 12$15.8M
Assets in detailPt X, end of year
CashLn 1$3.9M
SavingsLn 2$3.3M
Cash and savings togetherLn 1–2$7.2M
Total assetsLn 16$7.3M
LiabilitiesLn 26$4.3M
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
Fiscal year endsHeaderSeptember
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 FY21End FY21
Cash and savingsLn 1–2$6.1M$7.2M
Total assetsLn 16$6.5M$7.3M
LiabilitiesLn 26$5.1M$4.3M
Net assetsLn 32$1.3M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$13.1M$13.1M
Grants to domestic individualsLn 2$911K$911K
Accounting feesLn 11c$68K$68K
Investment management feesLn 11f$19K$19K
Other fees for servicesLn 11g$15K$15K
Information technologyLn 14$3K$3K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$14.1M$14.0M$92K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $29.2M$36.3M−$7.1M−$8.4M 990 PDF
FY2024 $26.5M$32.7M−$6.2M−$2.3M 990 PDF
FY2023 $26.7M$29.2M−$2.5M$3.3M 990 PDF
FY2022 $21.3M$20.0M$1.3M$4.3M 990 PDF
FY2021 Viewing $15.8M$14.1M$1.7M$3.0M 990 PDF
FY2020 $17.1M$17.8M−$727K$1.3M 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 FY2021 990 (6 parts)
Part I · Summary $15,805,359 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,062,123$15,803,732
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $60,472$1,627
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $17,122,595$15,805,359
I-13 Grants and similar amounts paidPrior year $17,640,694$14,005,959
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $208,546$107,174
I-18 Total expensesPrior year $17,849,240$14,113,133
I-19 Revenue less expensesPrior year −$726,645$1,692,226
Part VI · Governance 0 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $15,805,359 across 5 lines filed
VIII-1d Related organizations$9,702,829
VIII-1f All other contributions, gifts and grants$6,100,903
VIII-1h Total contributions, gifts and grants$15,803,732
VIII-3 Investment incomeExcluded from tax $1,627$1,627
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,627$15,805,359
Part IX · Statement of functional expenses $14,113,133 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $13,094,568$13,094,568
IX-2 Grants to domestic individualsPrograms $911,391$911,391
IX-11c Accounting feesManagement $68,275$68,275
IX-11f Investment management feesManagement $18,836$18,836
IX-11g Other fees for servicesPrograms $15,134$15,134
IX-14 Information technologyManagement $2,750$2,750
IX-24 Other expenses (24a–d)Management $2,179$2,179
IX-25 Total functional expensesPrograms $14,021,093 · Management $92,040 · Fundraising $0$14,113,133
Part X · Balance sheet $7,316,074 assets, 11 lines filed
Asset lines not itemized here account for $10,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,592,033$3,933,245
X-2 Savings and temporary cash investmentsStart of year $2,464,000$3,264,000
X-3 Pledges and grants receivableStart of year $389,456$108,829
X-16 Total assetsStart of year $6,466,563$7,316,074
X-17 Accounts payable and accrued expensesStart of year $55,790$17,400
X-18 Grants payableStart of year $5,090,232$4,316,529
X-26 Total liabilitiesStart of year $5,146,022$4,333,929
X-27 Net assets without donor restrictionsStart of year −$2,105,091−$571,178
X-28 Net assets with donor restrictionsStart of year $3,425,632$3,553,323
X-32 Total net assets or fund balancesStart of year $1,320,541$2,982,145
X-33 Total liabilities and net assetsStart of year $6,466,563$7,316,074
Part XI · Reconciliation of net assets $2,982,145 net assets at year end
XI-1 Total revenue$15,805,359
XI-2 Total expenses$14,113,133
XI-3 Revenue less expenses$1,692,226
XI-4 Net assets at start of year$1,320,541
XI-6 Donated services and use of facilities−$30,622
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,982,145

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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