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RSM US Foundation FY2020 filing

Tax-deductible

Davenport, IA501(c)(3)Since 2014Education EIN 47-2248988Revenue $6.0M in FY2020

On file with the IRS4650 E 53rd St, 52807-3479 · Davenport, IATax-exempt since Feb 2015Publicly supported charity — 170(b)(1)(A)(vi)

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Dedicated to building tomorrow's middle market leaders by enhancing educational outcomes.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
4 of 5
filings with a surplus
Average surplus $753K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Plus $9.1M in investments, Pt X · Ln 11–13
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $48K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.0M
Spent
$6.4M
To programs
100%
Net assets
$11.2M
By yearFY2020–FY2024
Revenue
$6.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$6.0M
FY2021$7.7M
FY2022$11.4M
FY2023$8.0M
FY2024$7.0M
Expenses
$6.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$6.4M
FY2021$6.8M
FY2022$9.0M
FY2023$7.2M
FY2024$7.0M
Net assets
$11.2M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$11.2M
FY2021$12.7M
FY2022$13.1M
FY2023$15.3M
FY2024$16.1M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2015.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $6.4M Management & general 0% · $12K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Doug Opheim
Chair & Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Michael Greer
Secretary
$0Pt VII · Sec A
Jason Alexander
Director (until Dec 2020)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joseph Adams
President
$0Pt VII · Sec A
See RSM US Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides grants to national charities focused on education, housing, and health to help build future middle-market business leaders.

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Provided by the organization

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3 programs · $5.7M · in their own filed words · FY2020
01

Birdies Fore Love

In 2020, RSM us foundation teamed with the davis love foundation for the eigth annual birdies fore love. Originated by the davis love foundation, birdies fore love has generated financial support for many charities helping children and families in the southeast.

$2.7Mprogram expense
02

National Charities

Grant support to national charities whose mission aligns with the mission of the RSM us foundation of education, housing, and health.

$2.3Mprogram expense
03

University Giving

RSM us foundation is focused on enhancing education for tomorrow's middle market leaders. In 2020, over 25 universities and eligible organizations received grants ranging from $500 to $313,500.

$696Kprogram 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
Raymond James Charitable Endowment FundFY2024$31K
Donor Advised Charitable Giving INCFY2024$17K
Total grants receivedfrom 2 funders$48K
Grants paid · 1,068 grants · $31.9M · 2020–2024
Boys & Girls Clubs of AmericaGA · FY2024$257,835
The Mgh Institute of Health ProfessMA · FY2024$178,875
United Way of Central IowaIA · FY2024$177,067
United Way of Central Alabama INCAL · FY2024$158,341
Achieve Twin CitiesMN · FY2024$152,968
Greater Cedar Rapids Community FoundationIA · FY2024$130,000
Courageous Sailing Center for Youth INCMA · FY2024$120,000
Feeding AmericaIL · FY2024$107,337
Apex for Youth INCNY · FY2024$104,678
Unitemized GrantFY2024$100,000
American National Red Cross & Its Constituent Chapters and BranchesDC · FY2024$100,000
Active Minds INCDC · FY2024$100,000
Special Olympics IllinoisIL · FY2024$90,702
Unitemized GrantFY2024$90,000
Unitemized GrantFY2024$90,000
Big Shoulders FundIL · FY2024$88,752
Daniel Murphy Scholarship FundIL · FY2024$86,667
Brevard Schools Foundation INCFL · FY2024$83,890
See all 1,068 grants →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$6.0M
Ln 12
Gifts and grantsLn 1h$5.7M
Investment incomeLn 3$298K
Money outPt IX
$6.4M
Ln 25
Programscol B$6.4M
Managementcol C$12K
Owns and owesPt X
$11.2M
net assets · Ln 32
Cash and savingsLn 1–2$3.2M
Total assetsLn 16$12.3M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.7M
Noncash giftsLn 1g$139K
Fundraising eventsLn 1c$139K
Investment incomeLn 3$298K
Total revenueLn 12$6.0M
Assets in detailPt X, end of year
CashLn 1$3.2M
Cash and savings togetherLn 1–2$3.2M
InvestmentsLn 11–13$9.1M
Total assetsLn 16$12.3M
LiabilitiesLn 26$1.1M
Net assetsLn 32$11.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
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 FY20End FY20
Cash and savingsLn 1–2$4.4M$3.2M
InvestmentsLn 11–13$7.9M$9.1M
Total assetsLn 16$12.5M$12.3M
LiabilitiesLn 26$1.4M$1.1M
Net assetsLn 32$11.1M$11.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5.6M$5.6M
Grants to domestic individualsLn 2$510K$510K
Grants and assistance to foreign recipientsLn 3$217K$217K
Accounting feesLn 11c$10K$10K
Other expenses (24a–d)Ln 24$26K$24K$2K
Total functional expensesLn 25$6.4M$6.4M$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $7.0M$7.0M$40K$16.1M 990 PDF
FY2023 $8.0M$7.2M$883K$15.3M 990 PDF
FY2022 $11.4M$9.0M$2.4M$13.1M 990 PDF
FY2021 $7.7M$6.8M$839K$12.7M 990 PDF
FY2020 Viewing $6.0M$6.4M−$400K$11.2M 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 F · Foreign M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $5,987,531 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,245,090$5,689,486
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $277,711$298,045
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $6,522,801$5,987,531
I-13 Grants and similar amounts paidPrior year $5,477,603$6,351,574
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 $46,235$35,647
I-18 Total expensesPrior year $5,523,838$6,387,221
I-19 Revenue less expensesPrior year $998,963−$399,690
Part VI · Governance 0 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $5,987,531 across 8 lines filed
VIII-1c Fundraising events$138,801
VIII-1d Related organizations$3,777,575
VIII-1f All other contributions, gifts and grants$1,773,110
VIII-1g Noncash contributions (included above)$138,801
VIII-1h Total contributions, gifts and grants$5,689,486
VIII-3 Investment incomeExcluded from tax $298,045$298,045
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $298,045$5,987,531
Part IX · Statement of functional expenses $6,387,221 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $5,624,366$5,624,366
IX-2 Grants to domestic individualsPrograms $510,256$510,256
IX-3 Grants and assistance to foreign recipientsPrograms $216,952$216,952
IX-11c Accounting feesManagement $10,140$10,140
IX-24 Other expenses (24a–d)Programs $23,928 · Management $1,579$25,507
IX-25 Total functional expensesPrograms $6,375,502 · Management $11,719 · Fundraising $0$6,387,221
Part X · Balance sheet $12,346,082 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $4,376,555$3,200,566
X-4 Accounts receivableStart of year $249,275$62,814
X-11 Publicly traded securitiesStart of year $7,895,997$9,082,702
X-16 Total assetsStart of year $12,521,827$12,346,082
X-18 Grants payableStart of year $1,393,723$1,139,782
X-26 Total liabilitiesStart of year $1,393,723$1,139,782
X-32 Total net assets or fund balancesStart of year $11,128,104$11,206,300
X-33 Total liabilities and net assetsStart of year $12,521,827$12,346,082
Part XI · Reconciliation of net assets $11,206,300 net assets at year end
XI-1 Total revenue$5,987,531
XI-2 Total expenses$6,387,221
XI-3 Revenue less expenses−$399,690
XI-4 Net assets at start of year$11,128,104
XI-5 Net unrealized gains (losses) on investments$477,886
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$11,206,300

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

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