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Rust Foundation FY2023 filing

Dover, DEUnknown exempt organizationSince 2021 EIN 85-4376974Revenue $2.5M in FY2023

On file with the IRSfoundation.rust-lang.org8 the Green 11976 · Dover, DE

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The primary purpose of the Rust Foundation is to: (a) support and promote the Rust project, which is the principal developer of the Rust programming language, (b) support the promotion, maintenance and development, and security of the Rust programming language and other projects supporting the Rust language and the broader Rust ecosystem; (c) cultivate the Rust project team members and user communities, including by producing events; (d) manage the technical infrastructure underlying the development of Rust; (e) manage and steward the Rust trademark and other assets of the Foundation; and (f) undertake such other activities as may from time to time be appropriate to further the purposes and achieve the goals set forth above.

$641K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
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
4 of 5
filings with a surplus
Average surplus $548K a year · 16% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$641K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
14 mo
of spending, in cash
Looks good: 14.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.9M
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
-11% vs prior year
Spent
$3.1M
Net assets
$1.8M
By yearFY2021–FY2025
Revenue
$2.5M
FY2023▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.1M
FY2022$2.8M
FY2023$2.5M
FY2024$4.3M
FY2025$5.3M
Expenses
$3.1M
FY2023▲ +59%
Tap a bar for its year
Expenses by fiscal year
FY2021$626K
FY2022$1.9M
FY2023$3.1M
FY2024$3.8M
FY2025$4.8M
Net assets
$1.8M
FY2023▼ -23%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.4M
FY2022$2.3M
FY2023$1.8M
FY2024$2.3M
FY2025$2.8M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

22 people listed on the 990; $641K paid to officers and key staff.

Part VII, Section A · reportable compensation
Walter Pearce
Security Engineer
$261,741Pt VII · Sec A
Joel Marcey
Director of Technology
$243,628Pt VII · Sec A
Gracie Gregory
Director of Marketing/Communications
$136,099Pt VII · Sec A
Mark Rousskov
Secretary
$0Pt VII · Sec A
Ryan Levick
Director
$0Pt VII · Sec A
Peixin Hou
Director
$0Pt VII · Sec A
Eric Garcia
Director
$0Pt VII · Sec A
Seth Markle
Director
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021
Rebecca Rumbul$410,351———$26,283
Walter Pearce$336,243$308,247$261,741——
Joel Marcey$236,960$255,279$243,628$181,324—
Jon Bauman$228,454————
Tobias Bieniek$201,880————
Adam Harvey$166,830————
Gracie Gregory——$136,099——
Abi Broom$124,333————

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 15aYes

Programs and updates

Supports Rust programming language development, community, and infrastructure.

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Provided by the organization

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3 programs · in their own filed words · FY2023
01

The community grants program is a cornerstone initiative at the rust foundation with goals of providing financial and practical support for existing talent in the rust ecosystem, growing the impact of the work of maintainers, and creating wider opportunities for those passionate about rust.

Pt IX · col B
02

The foundation exists to support the rust project and ecosystem, to ensure that the rust programming language is robust and fit for purpose. The foundation provided support to the maintenance and development of the rust programming language through the provision of cloud computing resources, the technical infrastructure to support the…

Pt IX · col B
03

The security initiative was developed to improve the security of the rust ecosystem, for the benefit of all users of the rust programming language. The initiative is a global effort and has engaged stakeholders from across industry and from around the world.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 15 grants · $492K · 2022–2025
Carnegie Mellon UniversityPA · FY2025$50,000
U C San Diego FoundationCA · FY2025$40,000
Unitemized GrantFY2025$34,562
Unitemized GrantFY2025$21,112
Unitemized GrantFY2025$13,165
Unitemized GrantFY2024$58,939
Unitemized GrantFY2024$23,000
Unitemized GrantFY2024$1,639
Unitemized GrantFY2024$300
Unitemized GrantFY2023$106,750
Unitemized GrantFY2023$49,215
Unitemized GrantFY2023$150
Unitemized GrantFY2022$61,997
Unitemized GrantFY2022$19,000
CodecraftersFY2022$12,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Fees for servicesLn 2g$1.9M
Gifts and grantsLn 1h$600K
Money outPt IX
$3.1M
Ln 25
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$3.7M
LiabilitiesLn 26$1.9M
PeoplePt VI, VII
22
listed · VII A
PaidVII A3
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$600K
Fees for servicesLn 2g$1.9M
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$922K
SavingsLn 2$2.7M
Cash and savings togetherLn 1–2$3.6M
Land, buildings, equipmentLn 10c$9K
Total assetsLn 16$3.7M
LiabilitiesLn 26$1.9M
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 56
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$2.0M$3.6M
Land, buildings, equipmentLn 10c$10K$9K
Total assetsLn 16$3.0M$3.7M
LiabilitiesLn 26$658K$1.9M
Net assetsLn 32$2.3M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$156K
Grants and assistance to foreign recipientsLn 3$261K
Pay of current officers, directors and key staffLn 5$491K
Other salaries and wagesLn 7$1.3M
Other employee benefitsLn 9$59K
Payroll taxesLn 10$167K
Legal feesLn 11b$45K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$44K
Advertising and promotionLn 12$36K
Office expensesLn 13$3K
Information technologyLn 14$12K
TravelLn 17$131K
Conferences, conventions and meetingsLn 19$85K
Depreciation, depletion and amortizationLn 22$5K
InsuranceLn 23$11K
Other expenses (24a–d)Ln 24$240K
All other expensesLn 24e$10K
Total functional expensesLn 25$3.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.3M$4.8M$465K$2.8M 990 PDF
FY2024 $4.3M$3.8M$495K$2.3M 990 PDF
FY2023 Viewing $2.5M$3.1M−$554K$1.8M 990 PDF
FY2022 $2.8M$1.9M$887K$2.3M 990 PDF
FY2021 $2.1M$626K$1.4M$1.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants F · Foreign J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,521,299 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,127,676$600,257
I-9 Program service revenuePrior year $1,691,167$1,921,042
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,818,843$2,521,299
I-13 Grants and similar amounts paidPrior year $411,973$417,568
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $815,559$2,032,146
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $704,165$625,227
I-18 Total expensesPrior year $1,931,697$3,074,941
I-19 Revenue less expensesPrior year $887,146−$553,642
Part VI · Governance 11 of 11 board members independent, 2 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,521,299 across 4 lines filed
VIII-1f All other contributions, gifts and grants$600,257
VIII-1h Total contributions, gifts and grants$600,257
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,921,042$1,921,042
VIII-12 Total revenueRelated to mission $1,921,042 · Unrelated business $0 · Excluded from tax $0$2,521,299
Part IX · Statement of functional expenses $3,074,941 across 18 lines filed
IX-2 Grants to domestic individuals$156,115
IX-3 Grants and assistance to foreign recipients$261,453
IX-5 Pay of current officers, directors and key staff$490,727
IX-7 Other salaries and wages$1,315,231
IX-9 Other employee benefits$59,192
IX-10 Payroll taxes$166,996
IX-11b Legal fees$44,859
IX-11c Accounting fees$4,320
IX-11g Other fees for services$43,942
IX-12 Advertising and promotion$36,141
IX-13 Office expenses$2,583
IX-14 Information technology$11,642
IX-17 Travel$130,584
IX-19 Conferences, conventions and meetings$84,944
IX-22 Depreciation, depletion and amortization$4,995
IX-23 Insurance$11,102
IX-24 Other expenses (24a–d)$240,187
IX-24e All other expenses$9,928
IX-25 Total functional expenses$3,074,941
Part X · Balance sheet $3,736,867 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,025,404$921,617
X-2 Savings and temporary cash investmentsStart of year $0$2,700,000
X-4 Accounts receivableStart of year $950,000$90,000
X-9 Prepaid expenses and deferred chargesStart of year $8,037$15,937
X-10c Land, buildings and equipment, netStart of year $10,467$9,313
X-16 Total assetsStart of year $2,993,908$3,736,867
X-17 Accounts payable and accrued expensesStart of year $25,791$17,184
X-18 Grants payableStart of year $126,000$82,000
X-19 Deferred revenueStart of year $506,167$1,832,375
X-26 Total liabilitiesStart of year $657,958$1,931,559
X-27 Net assets without donor restrictionsStart of year $2,335,950$938,014
X-28 Net assets with donor restrictionsStart of year $0$867,294
X-32 Total net assets or fund balancesStart of year $2,335,950$1,805,308
X-33 Total liabilities and net assetsStart of year $2,993,908$3,736,867
Part XI · Reconciliation of net assets $1,805,308 net assets at year end
XI-1 Total revenue$2,521,299
XI-2 Total expenses$3,074,941
XI-3 Revenue less expenses−$553,642
XI-4 Net assets at start of year$2,335,950
XI-9 Other changes in net assets$23,000
XI-10 Net assets at end of year$1,805,308

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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