City Fund FY2021 filing

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To support City-based non-profit organizations in their efforts to improve public education outcomes for local children.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
3 of 5
filings with a surplus
Average surplus $3.5M a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
10 mo
of spending, in cash
Looks good: 9.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $34.0M
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3.9M
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$116.6M
Spent
$79.4M
To programs
98%
Net assets
$61.3M
By yearFY2021–FY2025
Revenue
$116.6M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$116.6M
FY2022$115.8M
FY2023$55.4M
FY2024$118.6M
FY2025$58.8M
Expenses
$79.4M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$79.4M
FY2022$86.9M
FY2023$55.4M
FY2024$98.5M
FY2025$127.3M
Net assets
$61.3M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$61.3M
FY2022$90.3M
FY2023$91.0M
FY2024$111.1M
FY2025$42.9M

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

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 Sep 2018.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $78.0M Management & general 1% · $1.2M Fundraising 0% · $226K

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

10 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Director & Managing Partner
$472,896Pt VII · Sec A
$417,379Pt VII · Sec A
$413,242Pt VII · Sec A
$392,407Pt VII · Sec A
Partner & COO - as of 7/2020
$362,373Pt VII · Sec A
Partner
$312,988Pt VII · Sec A
Partner
$303,669Pt VII · Sec A
$0Pt VII · Sec A

Marlon Marshall’s $494K as CEO is at the 92nd percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Neerav Kingsland——$464,183$526,490$472,896
Marlon Marshall$494,290$482,605$93,798$398,984—
Kevin Shafer$460,420$452,754$393,804$397,844—
Jess Pena——$419,413$397,844$312,988
Patrick Dobard$417,613—$295,791——
Christopher Jeffrey Barbic$417,497————
Kameelah Shaheed-Diallo$417,450—$396,849$407,740$362,373
Kevin Huffman————$417,379

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Funds and advises city-based nonprofit organizations to increase the number of high-quality public schools and improve educational outcomes for local children.

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Provided by the organization

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1 program · $78.0M · in their own filed words · FY2020
01

Today, our educational system works well for far too few children in the united states, especially minority and low-income children. This failure not only deprives millions of children of a legitimate pathway to pursue gainful employment and a purpose-filled life, but it is also a threat to the wellbeing of our NATION.TO address these…

$78.0Mprogram 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 · FY2024
See all 7 funders →
Grants paid · 431 grants · $394.2M · 2020–2024
New Schools for New Orleans INCLA · FY2024$10,416,000
The Mind Trust INCIN · FY2024$10,000,000
New Jersey Children's FoundationNJ · FY2024$9,410,000
The Opportunity TrustMO · FY2024$8,900,000
Camden Education Fund INCNJ · FY2024$8,150,000
Education Forward DCDC · FY2024$5,465,000
New Schools for Baton RougeLA · FY2024$5,000,000
RootedCO · FY2024$4,743,000
City Education PartnersTX · FY2024$4,324,000
Equitable Facilities Fund INCNY · FY2024$4,000,000
Redefined AtlantaGA · FY2024$3,195,000
City Forward Collective INCWI · FY2024$2,200,000
Blaque Dated 5-25-2020MO · FY2024$2,000,000
Baton Rouge Alliance for StudentsLA · FY2024$1,437,262
DC Charter School AllianceDC · FY2024$1,400,000
RootedCO · FY2024$1,130,000
See all 431 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$116.6M
Ln 12
Gifts and grantsLn 1h$116.6M
Investment incomeLn 3$4K
Money outPt IX
$79.4M
Ln 25
Programscol B$78.0M
Managementcol C$1.2M
Fundraisingcol D$226K
Owns and owesPt X
$61.3M
net assets · Ln 32
Cash and savingsLn 1–2$63.2M
Total assetsLn 16$65.3M
LiabilitiesLn 26$3.9M
PeoplePt VI, VII
10
listed · VII A
PaidVII A7
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$116.6M
Investment incomeLn 3$4K
Total revenueLn 12$116.6M
Assets in detailPt X, end of year
CashLn 1$1.5M
SavingsLn 2$61.7M
Cash and savings togetherLn 1–2$63.2M
Total assetsLn 16$65.3M
LiabilitiesLn 26$3.9M
Net assetsLn 32$61.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
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
LineStart FY21End FY21
Cash and savingsLn 1–2$21.1M$63.2M
Total assetsLn 16$28.1M$65.3M
LiabilitiesLn 26$4.0M$3.9M
Net assetsLn 32$24.1M$61.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$70.5M$70.5M
Pay of current officers, directors and key staffLn 5$962K$815K$96K$51K
Other salaries and wagesLn 7$3.9M$3.3M$412K$137K
Pension plan contributionsLn 8$117K$100K$12K$4K
Other employee benefitsLn 9$412K$352K$44K$16K
Payroll taxesLn 10$226K$180K$32K$15K
Legal feesLn 11b$146K$146K
Accounting feesLn 11c$25K$25K
Other fees for servicesLn 11g$2.8M$2.6M$155K
Office expensesLn 13$7K$220$7K
Information technologyLn 14$129K$36K$91K$3K
TravelLn 17$19K$18K$1K$84
Conferences, conventions and meetingsLn 19$14K$12K$2K
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$121K$1K$120K
Total functional expensesLn 25$79.4M$78.0M$1.2M$226K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $58.8M$127.3M−$68.5M$42.9M 990 PDF
FY2024 $118.6M$98.5M$20.1M$111.1M 990 PDF
FY2023 $55.4M$55.4M−$43K$91.0M 990 PDF
FY2022 $115.8M$86.9M$28.9M$90.3M 990 PDF
FY2021 Viewing $116.6M$79.4M$37.2M$61.3M 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 J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $116,584,341 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $66,658,080$116,580,520
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $108,566$3,821
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $66,766,646$116,584,341
I-13 Grants and similar amounts paidPrior year $59,453,001$70,531,499
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,897,560$5,590,493
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,956,346$3,271,102
I-18 Total expensesPrior year $68,306,907$79,393,094
I-19 Revenue less expensesPrior year −$1,540,261$37,191,247
Part VI · Governance 3 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
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 $116,584,341 across 4 lines filed
VIII-1f All other contributions, gifts and grants$116,580,520
VIII-1h Total contributions, gifts and grants$116,580,520
VIII-3 Investment incomeExcluded from tax $3,821$3,821
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $3,821$116,584,341
Part IX · Statement of functional expenses $79,393,094 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $70,531,499$70,531,499
IX-5 Pay of current officers, directors and key staffPrograms $815,254 · Management $96,217 · Fundraising $50,703$962,174
IX-7 Other salaries and wagesPrograms $3,324,643 · Management $412,248 · Fundraising $136,606$3,873,497
IX-8 Pension plan contributionsPrograms $99,952 · Management $12,430 · Fundraising $4,330$116,712
IX-9 Other employee benefitsPrograms $352,001 · Management $43,555 · Fundraising $16,468$412,024
IX-10 Payroll taxesPrograms $179,819 · Management $31,694 · Fundraising $14,573$226,086
IX-11b Legal feesManagement $146,285$146,285
IX-11c Accounting feesManagement $24,815$24,815
IX-11g Other fees for servicesPrograms $2,635,086 · Management $154,549$2,789,635
IX-13 Office expensesPrograms $220 · Management $6,656$6,876
IX-14 Information technologyPrograms $35,548 · Management $90,831 · Fundraising $2,887$129,266
IX-17 TravelPrograms $17,899 · Management $1,099 · Fundraising $84$19,082
IX-19 Conferences, conventions and meetingsPrograms $12,089 · Management $1,857$13,946
IX-23 InsuranceManagement $20,159$20,159
IX-24 Other expenses (24a–d)Programs $1,039 · Management $119,999$121,038
IX-25 Total functional expensesPrograms $78,005,049 · Management $1,162,394 · Fundraising $225,651$79,393,094
Part X · Balance sheet $65,263,828 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,500,000$1,505,000
X-2 Savings and temporary cash investmentsStart of year $19,607,611$61,729,045
X-3 Pledges and grants receivableStart of year $6,969,872$2,000,000
X-9 Prepaid expenses and deferred chargesStart of year $31,225$29,783
X-16 Total assetsStart of year $28,108,708$65,263,828
X-17 Accounts payable and accrued expensesStart of year $182,993$505,139
X-18 Grants payableStart of year $2,718,500$1,980,000
X-25 Other liabilitiesStart of year $423,667$549,426
X-26 Total liabilitiesStart of year $3,959,107$3,922,980
X-27 Net assets without donor restrictionsStart of year $9,912,247$43,694,221
X-28 Net assets with donor restrictionsStart of year $14,237,354$17,646,627
X-32 Total net assets or fund balancesStart of year $24,149,601$61,340,848
X-33 Total liabilities and net assetsStart of year $28,108,708$65,263,828
Part XI · Reconciliation of net assets $61,340,848 net assets at year end
XI-1 Total revenue$116,584,341
XI-2 Total expenses$79,393,094
XI-3 Revenue less expenses$37,191,247
XI-4 Net assets at start of year$24,149,601
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$61,340,848

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

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