The Virtue Foundation FY2022 filing

Tax-deductible

New York, NY501(c)(3)Public & Societal BenefitEIN 56-2289262Revenue −$345K in FY2022

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.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 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
$10K
0.3% 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
−$345K
-116% vs prior year
Spent
$569K
To programs
83%
Net assets
$2.9M
By yearFY2020–FY2024
Revenue
−$345K
FY2022▼ -116%
Tap a bar for its year
Revenue by fiscal year
FY2020$767K
FY2021$2.1M
FY2022−$345K
FY2023$802K
FY2024$895K
Expenses
$569K
FY2022▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$360K
FY2021$500K
FY2022$569K
FY2023$478K
FY2024$523K
Net assets
$2.9M
FY2022▼ -45%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Apr 2003.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $475K Management & general 16% · $92K Fundraising 0% · $2K

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
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.

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Provided by the organization

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2 programs · $475K · in their own filed words · FY2022
01

Data mapping for good the virtue foundation data mapping initiative is a forward-thinking technology platform that seeks to create a more efficient marketplace for the delivery of healthcare in under-served regions of the world.

$240Kprogram 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.

$235Kprogram 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
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 FY2022 990, line by line.

1The main four
Money inPt VIII
−$345K
Ln 12
Gifts and grantsLn 1h$410K
Investment incomeLn 3$11K
Money outPt IX
$569K
Ln 25
Programscol B$475K
Managementcol C$92K
Fundraisingcol D$2K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$154K
Total assetsLn 16$2.9M
LiabilitiesLn 26$10K
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$410K
Noncash giftsLn 1g$23K
Investment incomeLn 3$11K
Gains on assetsLn 7−$765K
Total revenueLn 12−$345K
Assets in detailPt X, end of year
CashLn 1$143K
SavingsLn 2$11K
Cash and savings togetherLn 1–2$154K
InvestmentsLn 11–13$2.2M
Land, buildings, equipmentLn 10c$459K
Total assetsLn 16$2.9M
LiabilitiesLn 26$10K
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 52
VolunteersI 634
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$250K$154K
InvestmentsLn 11–13$4.6M$2.2M
Land, buildings, equipmentLn 10c$374K$459K
Total assetsLn 16$5.2M$2.9M
LiabilitiesLn 26$14K$10K
Net assetsLn 32$5.2M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$12K$12K
Other salaries and wagesLn 7$141K$141K
Payroll taxesLn 10$11K$11K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$16K$16K
Investment management feesLn 11f$11$11
Other fees for servicesLn 11g$16K$16K
Advertising and promotionLn 12$842$842
Office expensesLn 13$4K$2K$2K
Information technologyLn 14$260$260
TravelLn 17$27K$27K
Conferences, conventions and meetingsLn 19$2K$2K
Depreciation, depletion and amortizationLn 22$15K$15K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$300K$254K$45K
All other expensesLn 24e$14K$11K$3K
Total functional expensesLn 25$569K$475K$92K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $895K$523K$372K$5.6M 990 PDF
FY2023 $802K$478K$324K$4.2M 990 PDF
FY2022 Viewing −$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 FY2022 990 (6 parts)
Part I · Summary −$344,609 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $389,598$409,750
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,718,723−$754,359
I-11 Other revenue$0
I-12 Total revenuePrior year $2,108,321−$344,609
I-13 Grants and similar amounts paidPrior year $11,229$12,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $133,743$151,946
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $354,705$404,480
I-18 Total expensesPrior year $499,677$568,926
I-19 Revenue less expensesPrior year $1,608,644−$913,535
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue −$344,609 across 6 lines filed
VIII-1f All other contributions, gifts and grants$409,750
VIII-1g Noncash contributions (included above)$22,858
VIII-1h Total contributions, gifts and grants$409,750
VIII-3 Investment incomeExcluded from tax $10,801$10,801
VIII-7 Net gain or loss on sales of assetsRelated to mission −$765,160−$765,160
VIII-12 Total revenueRelated to mission −$765,160 · Excluded from tax $10,801−$344,609
Part IX · Statement of functional expenses $568,926 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $12,500$12,500
IX-7 Other salaries and wagesPrograms $140,545$140,545
IX-10 Payroll taxesPrograms $11,401$11,401
IX-11b Legal feesManagement $3,500$3,500
IX-11c Accounting feesManagement $16,273$16,273
IX-11f Investment management feesManagement $11$11
IX-11g Other fees for servicesPrograms $16,426$16,426
IX-12 Advertising and promotionManagement $842$842
IX-13 Office expensesPrograms $1,978 · Management $2,040$4,018
IX-14 Information technologyManagement $260$260
IX-17 TravelPrograms $26,759$26,759
IX-19 Conferences, conventions and meetingsFundraising $2,395$2,395
IX-22 Depreciation, depletion and amortizationManagement $15,449$15,449
IX-23 InsuranceManagement $5,152$5,152
IX-24 Other expenses (24a–d)Programs $254,311 · Management $45,349$299,660
IX-24e All other expensesPrograms $10,636 · Management $3,099$13,735
IX-25 Total functional expensesPrograms $474,556 · Management $91,975 · Fundraising $2,395$568,926
Part X · Balance sheet $2,861,585 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $155,253$142,993
X-2 Savings and temporary cash investmentsStart of year $95,034$11,192
X-10c Land, buildings and equipment, netStart of year $373,601$459,479
X-11 Publicly traded securitiesStart of year $4,444,598$2,198,380
X-12 Other securitiesStart of year $122,842$49,541
X-16 Total assetsStart of year $5,191,328$2,861,585
X-25 Other liabilitiesStart of year $13,693$9,678
X-26 Total liabilitiesStart of year $13,693$9,678
X-27 Net assets without donor restrictionsStart of year $5,177,635$2,851,907
X-32 Total net assets or fund balancesStart of year $5,177,635$2,851,907
X-33 Total liabilities and net assetsStart of year $5,191,328$2,861,585
Part XI · Reconciliation of net assets $2,851,907 net assets at year end
XI-1 Total revenue−$344,609
XI-2 Total expenses$568,926
XI-3 Revenue less expenses−$913,535
XI-4 Net assets at start of year$5,177,635
XI-5 Net unrealized gains (losses) on investments−$1,412,193
XI-10 Net assets at end of year$2,851,907

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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