Pursuit Foundation: FY2021 Nonprofit Profile & Form 990 (EIN 74-2179425)

Revenue by fiscal year
FY2020	$7.0M
FY2021	$12.9M
FY2022	$2.8M
FY2023	$610K
FY2024	$850K
FY2025	$1.3M

Expenses by fiscal year
FY2020	$1.5M
FY2021	$20.2M
FY2022	$3.3M
FY2023	$2.9M
FY2024	$2.5M
FY2025	$2.4M

Net assets by fiscal year
FY2020	$45.9M
FY2021	$39.3M
FY2022	$37.9M
FY2023	$35.9M
FY2024	$29.8M
FY2025	$28.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1981.

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

Part of a larger organization · Schedule R

Pursuit Foundation files its own Form 990, but Schedule R discloses 3 related entities — figures on this page are for this EIN only, not the whole group.

C R I Federal Services · C R I Commercial Services · The Center for Pursuit · See Schedule R

Combined filings · FY2021 · 4 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 26% of group revenue.

Group revenue

$49.5M

Group expenses

$35.4M

Group net assets

$59.4M

C R I Federal Services · $3.0M rev · $1.8M net assets

C R I Commercial Services · $29K rev · $8K net assets

The Center for Pursuit · $33.6M rev · $18.3M net assets

Where the money goes

98 cents of each dollar spent went to programs.

98%

Program services 98% · $19.8M Management & general 1% · $225K Fundraising 1% · $180K

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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Glen Shepard

President

$0Pt VII · Sec A

David Cunningham

Treasurer

$0Pt VII · Sec A

Shaheen Ladhani

Secretary

$0Pt VII · Sec A

David Baldwin

Trustee

$0Pt VII · Sec A

Lisa Schott

Trustee

$0Pt VII · Sec A

Charles Canton

CEO

$0Pt VII · Sec A

David Pomerantz

CFO

$0Pt VII · Sec A

Kevin Kern

COO

$0Pt VII · Sec A

See Pursuit 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

Provides support for The Center For Pursuit's programs and services.

Questions for Pursuit Foundation

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Provided by the organization

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1 program · $19.8M · in their own filed words · FY2020

01

See Schedule OProvide financial support for The Center For Pursuit, to ensure it can provide residential, vocational, and day services that promote individual choice, personal growth, and independence for adults with developmental disabilities.

$19.8Mprogram 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 · FY2020

Fidelity Investments Charitable Gift FundFY2020$62K

Total grants receivedfrom 1 funder$62K

Grants paid · 6 grants · $19.2M · 2019–2024

The Center for PursuitTX · FY2024$75,000

The Center for PursuitTX · FY2023$76,823

The Center for PursuitTX · FY2022$90,000

The Center for PursuitTX · FY2021$150,000

The Center for PursuitTX · FY2020$18,516,800

The Center for PursuitTX · FY2019$300,103

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$12.9M

Ln 12

Investment incomeLn 3$7.7M

Gifts and grantsLn 1h$5.2M

Money outPt IX

$20.2M

Ln 25

Programscol B$19.8M

Managementcol C$225K

Fundraisingcol D$180K

Owns and owesPt X

$39.3M

net assets · Ln 32

Cash and savingsLn 1–2$14.8M

Total assetsLn 16$65.9M

LiabilitiesLn 26$26.5M

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5.2M

Investment incomeLn 3$7.7M

Gains on assetsLn 7$7.5M

Total revenueLn 12$12.9M

Assets in detailPt X, end of year

CashLn 1$6.3M

SavingsLn 2$8.5M

Cash and savings togetherLn 1–2$14.8M

InvestmentsLn 11–13$9.2M

Land, buildings, equipmentLn 10c$37.3M

Other assetsLn 15$2.1M

Total assetsLn 16$65.9M

LiabilitiesLn 26$26.5M

Net assetsLn 32$39.3M

OperationsPt I, VI

EmployeesI 50

VolunteersI 66

Fiscal year endsHeaderJune

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$16.9M	$14.8M
InvestmentsLn 11–13	$7.9M	$9.2M
Land, buildings, equipmentLn 10c	$22.9M	$37.3M
Total assetsLn 16	$50.7M	$65.9M
LiabilitiesLn 26	$4.9M	$26.5M
Net assetsLn 32	$45.9M	$39.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$18.5M	$18.5M
Professional fundraising feesLn 11e	$180K			$180K
Investment management feesLn 11f	$37K		$37K
Other fees for servicesLn 11g	$84K	$84K
OccupancyLn 16	$635K	$635K
InterestLn 20	$188K		$188K
Depreciation, depletion and amortizationLn 22	$342K	$342K
Other expenses (24a–d)Ln 24	$257K	$257K
Total functional expensesLn 25	$20.2M	$19.8M	$225K	$180K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.3M	$2.4M	−$1.0M	$28.2M	990 PDF
FY2024	$850K	$2.5M	−$1.6M	$29.8M	990 PDF
FY2023	$610K	$2.9M	−$2.3M	$35.9M	990 PDF
FY2022	$2.8M	$3.3M	−$524K	$37.9M	990 PDF
FY2021 Viewing	$12.9M	$20.2M	−$7.4M	$39.3M	990 PDF
FY2020	$7.0M	$1.5M	$5.5M	$45.9M	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 $12,885,980 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $6,276,708$5,198,561

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $621,887$7,687,419

I-11 Other revenuePrior year $90,639$0

I-12 Total revenuePrior year $6,989,234$12,885,980

I-13 Grants and similar amounts paidPrior year $300,103$18,516,800

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $180,000$180,000

I-17 Other expensesPrior year $1,043,809$1,542,624

I-18 Total expensesPrior year $1,523,912$20,239,424

I-19 Revenue less expensesPrior year $5,465,322−$7,353,444

Part VI · Governance 5 of 5 board members independent, 1 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

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 $12,885,980 across 5 lines filed

VIII-1f All other contributions, gifts and grants$5,198,561

VIII-1h Total contributions, gifts and grants$5,198,561

VIII-3 Investment incomeExcluded from tax $150,068$150,068

VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,537,351$7,537,351

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $7,687,419$12,885,980

Part IX · Statement of functional expenses $20,239,424 across 8 lines filed

IX-1 Grants to domestic organizationsPrograms $18,516,800$18,516,800

IX-11e Professional fundraising feesFundraising $180,000$180,000

IX-11f Investment management feesManagement $36,782$36,782

IX-11g Other fees for servicesPrograms $84,014$84,014

IX-16 OccupancyPrograms $634,743$634,743

IX-20 InterestManagement $187,902$187,902

IX-22 Depreciation, depletion and amortizationPrograms $342,307$342,307

IX-24 Other expenses (24a–d)Programs $256,876$256,876

IX-25 Total functional expensesPrograms $19,834,740 · Management $224,684 · Fundraising $180,000$20,239,424

Part X · Balance sheet $65,855,899 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $54,029$6,317,165

X-2 Savings and temporary cash investmentsStart of year $16,816,501$8,521,062

X-3 Pledges and grants receivableStart of year $583,413$2,397,697

X-9 Prepaid expenses and deferred chargesStart of year $60,199$65,510

X-10c Land, buildings and equipment, netStart of year $22,918,512$37,276,653

X-11 Publicly traded securitiesStart of year $7,895,916$9,185,684

X-15 Other assetsStart of year $2,397,052$2,092,128

X-16 Total assetsStart of year $50,732,582$65,855,899

X-17 Accounts payable and accrued expensesStart of year $2,117,237$3,362,244

X-25 Other liabilitiesStart of year $510,784$0

X-26 Total liabilitiesStart of year $4,862,960$26,541,977

X-27 Net assets without donor restrictionsStart of year $36,807,064$24,497,100

X-28 Net assets with donor restrictionsStart of year $9,062,558$14,816,822

X-32 Total net assets or fund balancesStart of year $45,869,622$39,313,922

X-33 Total liabilities and net assetsStart of year $50,732,582$65,855,899

Part XI · Reconciliation of net assets $39,313,922 net assets at year end

XI-1 Total revenue$12,885,980

XI-2 Total expenses$20,239,424

XI-3 Revenue less expenses−$7,353,444

XI-4 Net assets at start of year$45,869,622

XI-5 Net unrealized gains (losses) on investments$797,744

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$39,313,922

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

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Pursuit Foundation FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Pursuit Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV

Pursuit Foundation FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Pursuit Foundation

Funders

Grants

Related Organizations

By the numbers

Filing history

Schedules filed Part IV