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Rust Foundation FY2024 filing

Dover, DEUnknown exempt organizationSince 2021 EIN 85-4376974Revenue $4.3M in FY2024

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.

$564K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · 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
$564K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
14 mo
of spending, in cash
Looks good: 13.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
51% of total assets
Fine: liabilities are 51% 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
$4.3M
+70% vs prior year
Spent
$3.8M
Net assets
$2.3M
By yearFY2021–FY2025
Revenue
$4.3M
FY2024▲ +70%
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
$3.8M
FY2024▲ +23%
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
$2.3M
FY2024▲ +27%
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 FY2024 Form 990 · see the original

Give Claim
You’re viewing the FY2024 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

20 people listed on the 990; $564K paid to officers and key staff.

Part VII, Section A · reportable compensation
Walter Pearce
Security Engineer
$308,247Pt VII · Sec A
Joel Marcey
Director of Technology
$255,279Pt VII · Sec A
$0Pt VII · Sec A
Eric Garcia
Secretary
$0Pt VII · Sec A
Ryan Levick
Director
$0Pt VII · Sec A
Peixin Hou
Director
$0Pt VII · Sec A
Seth Markle
Director
$0Pt VII · Sec A
Jakob Degen
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 · FY2024
01

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
02

The rust foundation exists to support the rust project and ecosystem, to ensure that the rust programming language is robust and fit for purpose. During 2024 the foundation continued to support the maintenance of the rust language infrastructure through its current infrastructure engineering role, hired a further employee to work on the…

Pt IX · col B
03

Rustconf

The rust foundation is the main organizer for the original, global, rust conference. Ensuring industry and community stakeholders are able to meet and collaborate is a core facet of our mission.

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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.3M
Ln 12
Fees for servicesLn 2g$2.3M
Gifts and grantsLn 1h$1.8M
Investment incomeLn 3$176K
Money outPt IX
$3.8M
Ln 25
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$4.7M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
20
listed · VII A
PaidVII A2
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.8M
Fees for servicesLn 2g$2.3M
Investment incomeLn 3$176K
Total revenueLn 12$4.3M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$3.0M
Cash and savings togetherLn 1–2$4.4M
Land, buildings, equipmentLn 10c$10K
Total assetsLn 16$4.7M
LiabilitiesLn 26$2.4M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 56
VolunteersI 615
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$3.6M$4.4M
Land, buildings, equipmentLn 10c$9K$10K
Total assetsLn 16$3.7M$4.7M
LiabilitiesLn 26$1.9M$2.4M
Net assetsLn 32$1.8M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$84K
Grants and assistance to foreign recipientsLn 3$330K
Pay of current officers, directors and key staffLn 5$499K
Other salaries and wagesLn 7$1.6M
Other employee benefitsLn 9$83K
Payroll taxesLn 10$214K
Legal feesLn 11b$33K
Accounting feesLn 11c$8K
Other fees for servicesLn 11g$148K
Advertising and promotionLn 12$40K
Office expensesLn 13$9K
TravelLn 17$197K
Conferences, conventions and meetingsLn 19$283K
Depreciation, depletion and amortizationLn 22$7K
InsuranceLn 23$10K
Other expenses (24a–d)Ln 24$248K
All other expensesLn 24e$1K
Total functional expensesLn 25$3.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.3M$4.8M$465K$2.8M 990 PDF
FY2024 Viewing $4.3M$3.8M$495K$2.3M 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $4,289,364 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $600,257$1,772,325
I-9 Program service revenuePrior year $1,921,042$2,340,885
I-10 Investment incomePrior year $0$176,154
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,521,299$4,289,364
I-13 Grants and similar amounts paidPrior year $417,568$413,881
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,032,146$2,396,878
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $625,227$983,384
I-18 Total expensesPrior year $3,074,941$3,794,143
I-19 Revenue less expensesPrior year −$553,642$495,221
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,289,364 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,772,325
VIII-1h Total contributions, gifts and grants$1,772,325
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,340,885$2,340,885
VIII-3 Investment incomeExcluded from tax $176,154$176,154
VIII-12 Total revenueRelated to mission $2,340,885 · Unrelated business $0 · Excluded from tax $176,154$4,289,364
Part IX · Statement of functional expenses $3,794,143 across 17 lines filed
IX-2 Grants to domestic individuals$83,878
IX-3 Grants and assistance to foreign recipients$330,003
IX-5 Pay of current officers, directors and key staff$498,823
IX-7 Other salaries and wages$1,601,381
IX-9 Other employee benefits$83,119
IX-10 Payroll taxes$213,555
IX-11b Legal fees$32,921
IX-11c Accounting fees$7,608
IX-11g Other fees for services$148,169
IX-12 Advertising and promotion$39,867
IX-13 Office expenses$9,365
IX-17 Travel$196,660
IX-19 Conferences, conventions and meetings$283,103
IX-22 Depreciation, depletion and amortization$6,683
IX-23 Insurance$10,407
IX-24 Other expenses (24a–d)$247,500
IX-24e All other expenses$1,101
IX-25 Total functional expenses$3,794,143
Part X · Balance sheet $4,694,373 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $921,617$1,383,108
X-2 Savings and temporary cash investmentsStart of year $2,700,000$3,011,165
X-4 Accounts receivableStart of year $90,000$135,000
X-9 Prepaid expenses and deferred chargesStart of year $15,937$154,770
X-10c Land, buildings and equipment, netStart of year $9,313$10,330
X-16 Total assetsStart of year $3,736,867$4,694,373
X-17 Accounts payable and accrued expensesStart of year $17,184$138,115
X-18 Grants payableStart of year $82,000$214,000
X-19 Deferred revenueStart of year $1,832,375$2,040,729
X-26 Total liabilitiesStart of year $1,931,559$2,392,844
X-27 Net assets without donor restrictionsStart of year $938,014$1,152,060
X-28 Net assets with donor restrictionsStart of year $867,294$1,149,469
X-32 Total net assets or fund balancesStart of year $1,805,308$2,301,529
X-33 Total liabilities and net assetsStart of year $3,736,867$4,694,373
Part XI · Reconciliation of net assets $2,301,529 net assets at year end
XI-1 Total revenue$4,289,364
XI-2 Total expenses$3,794,143
XI-3 Revenue less expenses$495,221
XI-4 Net assets at start of year$1,805,308
XI-9 Other changes in net assets$1,000
XI-10 Net assets at end of year$2,301,529

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

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