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The Virtue Foundation

Tax-deductible

New York, NY501(c)(3)Public & Societal BenefitEIN 56-2289262Revenue $895K in FY2024

On file with the IRSvirtuefoundation.org106 East 85th Street Suite Ne1, 10028-0999 · New York, NYTax-exempt since Apr 2003Publicly supported charity — 170(b)(1)(A)(vi)

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The foundation's mission is to increase awareness of prevalent global issues, to inspire people to action and to render humanitarian assistance through healthcare, education and empowerment initiatives.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Run by 34 volunteers and 2 employees.
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
4 of 5
filings with a surplus
Average surplus $360K a year · 43% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $84K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$4K
0.07% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$895K
+12% vs prior year
Spent
$523K
To programs
78%
Net assets
$5.6M
By yearFY2020–FY2024
Revenue
$895K
FY2024▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2020$767K
FY2021$2.1M
FY2022−$345K
FY2023$802K
FY2024$895K
Expenses
$523K
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$360K
FY2021$500K
FY2022$569K
FY2023$478K
FY2024$523K
Net assets
$5.6M
FY2024▲ +34%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.2M
FY2021$5.2M
FY2022$2.9M
FY2023$4.2M
FY2024$5.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2003.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $410K Management & general 22% · $113K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Joseph Salim Dmd
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Virtue 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Inspires action and provides humanitarian aid through healthcare, education, and empowerment.

Questions for The Virtue Foundation

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Provided by the organization

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2 programs · $410K · in their own filed words · FY2024
01

Datamapping for good the virtue foundation actionable data mapping initiative (formerly named the "data mapping initiative") is a forward- thinking technology platform that employs machine learning and ai to better match needs and resources in 72 low and low-middle income countries.

$289Kprogram expense
02

The virtue foundation provided a variety of advanced medical and surgical treatments in mongolia including ophthalmology, oculoplastic surgery, otorhinolaryngology, anesthesiology and intensive care, hepatobiliary surgery, and neurosurgery.

$121Kprogram 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
Vanguard Charitable Endowment ProgramFY2024$40K
Fidelity Investments Charitable Gift FundFY2024$32K
American Online Giving Foundation INCFY2024$12K
Total grants receivedfrom 3 funders$84K
See all 3 funders →
Grants paid · 4 grants · $60K · 2020–2023
Hagar USA INCFY2023$21,962
Hagar USA INCFY2022$12,000
Hagar USA INCFY2021$11,229
Hagar USA INCFY2020$14,484

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$895K
Ln 12
Gifts and grantsLn 1h$675K
Investment incomeLn 3$220K
Money outPt IX
$523K
Ln 25
Programscol B$410K
Managementcol C$113K
Owns and owesPt X
$5.6M
net assets · Ln 32
Cash and savingsLn 1–2$517K
Total assetsLn 16$5.6M
LiabilitiesLn 26$4K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$675K
Noncash giftsLn 1g$20K
Investment incomeLn 3$220K
Gains on assetsLn 7$193K
Total revenueLn 12$895K
Assets in detailPt X, end of year
CashLn 1$515K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$517K
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$473K
Total assetsLn 16$5.6M
LiabilitiesLn 26$4K
Net assetsLn 32$5.6M
OperationsPt I, VI
EmployeesI 52
VolunteersI 634
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$535K$517K
InvestmentsLn 11–13$3.2M$4.6M
Land, buildings, equipmentLn 10c$448K$473K
Total assetsLn 16$4.2M$5.6M
LiabilitiesLn 26$4K$4K
Net assetsLn 32$4.2M$5.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$106K$106K
Payroll taxesLn 10$8K$8K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$10K$10K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$2K$2K
Information technologyLn 14$1K$1K
TravelLn 17$69K$69K
Depreciation, depletion and amortizationLn 22$70K$58K$12K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$222K$155K$67K
All other expensesLn 24e$9K$3K$6K
Total functional expensesLn 25$523K$410K$113K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $895K$523K$372K$5.6M 990 PDF
FY2023 $802K$478K$324K$4.2M 990 PDF
FY2022 −$345K$569K−$914K$2.9M 990 PDF
FY2021 $2.1M$500K$1.6M$5.2M 990 PDF
FY2020 $767K$360K$407K$5.2M 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 $895,142 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $987,875$675,014
I-9 Program service revenue$0
I-10 Investment incomePrior year −$185,970$220,128
I-11 Other revenue$0
I-12 Total revenuePrior year $801,905$895,142
I-13 Grants and similar amounts paidPrior year $23,162$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $131,726$114,910
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $323,261$408,484
I-18 Total expensesPrior year $478,149$523,394
I-19 Revenue less expensesPrior year $323,756$371,748
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $895,142 across 6 lines filed
VIII-1f All other contributions, gifts and grants$675,014
VIII-1g Noncash contributions (included above)$20,459
VIII-1h Total contributions, gifts and grants$675,014
VIII-3 Investment incomeExcluded from tax $27,159$27,159
VIII-7 Net gain or loss on sales of assetsRelated to mission $192,969$192,969
VIII-12 Total revenueRelated to mission $192,969 · Excluded from tax $27,159$895,142
Part IX · Statement of functional expenses $523,394 across 12 lines filed
IX-7 Other salaries and wagesPrograms $106,500$106,500
IX-10 Payroll taxesPrograms $8,410$8,410
IX-11c Accounting feesManagement $17,099$17,099
IX-11g Other fees for servicesPrograms $10,400$10,400
IX-12 Advertising and promotionManagement $3,240$3,240
IX-13 Office expensesManagement $1,551$1,551
IX-14 Information technologyManagement $1,326$1,326
IX-17 TravelPrograms $68,904$68,904
IX-22 Depreciation, depletion and amortizationPrograms $58,220 · Management $12,130$70,350
IX-23 InsuranceManagement $5,303$5,303
IX-24 Other expenses (24a–d)Programs $154,700 · Management $66,800$221,500
IX-24e All other expensesPrograms $3,106 · Management $5,705$8,811
IX-25 Total functional expensesPrograms $410,240 · Management $113,154 · Fundraising $0$523,394
Part X · Balance sheet $5,605,866 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $534,945$514,569
X-2 Savings and temporary cash investmentsStart of year $375$2,124
X-10c Land, buildings and equipment, netStart of year $447,925$472,575
X-11 Publicly traded securitiesStart of year $3,136,584$4,487,908
X-12 Other securitiesStart of year $78,681$128,690
X-16 Total assetsStart of year $4,198,510$5,605,866
X-25 Other liabilitiesStart of year $3,838$3,779
X-26 Total liabilitiesStart of year $3,838$3,779
X-27 Net assets without donor restrictionsStart of year $4,194,672$5,602,087
X-32 Total net assets or fund balancesStart of year $4,194,672$5,602,087
X-33 Total liabilities and net assetsStart of year $4,198,510$5,605,866
Part XI · Reconciliation of net assets $5,602,087 net assets at year end
XI-1 Total revenue$895,142
XI-2 Total expenses$523,394
XI-3 Revenue less expenses$371,748
XI-4 Net assets at start of year$4,194,672
XI-5 Net unrealized gains (losses) on investments$1,035,667
XI-10 Net assets at end of year$5,602,087

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

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