Beygood Foundation FY2023 filing

Tax-deductible

Beverly Hills, CA501(c)(3)Foundations & GrantmakersEIN 87-3502092

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Economic equity by supporting organizations that serve marginalized and under-sourced communities

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$423K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
1 of 3
filings with a surplus
Average surplus $12.8M a year · 74% of revenue · last 3 filings
Worth a look: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$423K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
48 mo
of spending, in cash
Looks good: 47.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $500K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$946K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.4M
-88% vs prior year
Spent
$6.2M
To programs
90%
Net assets
$41.0M
By yearFY2022–FY2024
Revenue
$5.4M
FY2023▼ -88%
Revenue by fiscal year
FY2022$43.6M
FY2023$5.4M
FY2024$3.2M
Expenses
$6.2M
FY2023▲ +175%
Expenses by fiscal year
FY2022$2.2M
FY2023$6.2M
FY2024$5.3M
Net assets
$41.0M
FY2023▼ -0.8%
Net assets by fiscal year
FY2022$41.3M
FY2023$41.0M
FY2024$39.3M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 2022.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $5.5M Management & general 9% · $580K Fundraising 1% · $50K

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

12 people listed on the 990; $423K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$265,370Pt VII · Sec A
Director of Finance
$157,665Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member (deceased April 2023)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Ivy McGregor Left November 2024’s $417K as Executive Director is at the 99th percentile of top reported officer pay among 1690 $1–10M 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 · 6 named individuals · Part VII

NameFY2024FY2023FY2022
Ivy McGregor Left November 2024$417,473——
Ivy McGregor—$265,370$106,250
Jennifer Leger—$157,665—
Lasaunda Tate$127,734——
Allana Barefield$107,379——
Milan Schure$100,324——

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.

See Beygood 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes economic equity by funding organizations that support marginalized communities and providing charitable grants for education and disaster relief to individuals in need.

Provided by the organization

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1 program service account for $5.5M of program spending, described in the organization's own filed words · FY2023.
01

Charitable giving program serving educational purposes and those in need or in distress.

$5.5Mprogram expense

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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
Total grants receivedfrom 1 funder$500K
Grants paid · 180 grants · $5.2M · 2023–2024
Private School AxisCA · FY2024$250,000
Reggie Stephens FoundationCA · FY2024$200,000
National Minority Supplier Development CouncilFY2024$170,000
University of Houston Law Center Criminal Justice ClinicFY2024$100,000
Texas Southern University FoundationFY2024$100,000
Hollyrod FoundationFY2024$100,000
Friends United for Hbcus INCTX · FY2024$100,000
Angel by NatureTX · FY2024$100,000
Universal College of Beauty INCFY2024$50,000
Trenz Beauty AcademyFY2024$50,000
Janas Cosmetology AcademyFY2024$50,000
Franklin InstituteFY2024$50,000
Beaver Beauty AcademyFY2024$50,000
Beloved AshevilleNC · FY2024$25,150
Urban SaddlesCA · FY2024$25,000
See all 180 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.4M
Ln 12
Gifts and grantsLn 1h$3.9M
Investment incomeLn 3$1.5M
Money outPt IX
$6.2M
Ln 25
Programscol B$5.5M
Managementcol C$580K
Fundraisingcol D$50K
Owns and owesPt X
$41.0M
net assets · Ln 32
Cash and savingsLn 1–2$24.4M
Total assetsLn 16$41.9M
LiabilitiesLn 26$946K
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.9M
Noncash giftsLn 1g$56K
Investment incomeLn 3$1.5M
Gains on assetsLn 7−$68K
Total revenueLn 12$5.4M
Assets in detailPt X, end of year
CashLn 1$24.2M
SavingsLn 2$214K
Cash and savings togetherLn 1–2$24.4M
InvestmentsLn 11–13$16.9M
Land, buildings, equipmentLn 10c$35K
Other assetsLn 15$664K
Total assetsLn 16$41.9M
LiabilitiesLn 26$946K
Net assetsLn 32$41.0M
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
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$41.0M$24.4M
InvestmentsLn 11–13$16.9M
Land, buildings, equipmentLn 10c$0$35K
Total assetsLn 16$42.3M$41.9M
LiabilitiesLn 26$1.0M$946K
Net assetsLn 32$41.3M$41.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3.1M$3.1M
Grants to domestic individualsLn 2$70K$70K
Grants and assistance to foreign recipientsLn 3$90K$90K
Pay of current officers, directors and key staffLn 5$265K$212K$27K$27K
Other salaries and wagesLn 7$404K$324K$72K$8K
Pension plan contributionsLn 8$1K$820$219$55
Other employee benefitsLn 9$45K$38K$5K$2K
Payroll taxesLn 10$44K$37K$5K$2K
Legal feesLn 11b$85K$85K
Accounting feesLn 11c$35K$35K
Other fees for servicesLn 11g$184K$141K$42K
Advertising and promotionLn 12$44K$41K$3K
Office expensesLn 13$172K$141K$31K
Information technologyLn 14$163K$133K$30K
OccupancyLn 16$188K$150K$28K$10K
TravelLn 17$401K$373K$28K
Depreciation, depletion and amortizationLn 22$15K$15K
InsuranceLn 23$21K$18K$2K$1K
Other expenses (24a–d)Ln 24$328K$263K$65K
All other expensesLn 24e$479K$373K$106K
Total functional expensesLn 25$6.2M$5.5M$580K$50K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.2M$5.3M−$2.2M$39.3M 990 PDF
FY2023 Viewing $5.4M$6.2M−$770K$41.0M 990 PDF
FY2022 $43.6M$2.2M$41.3M$41.3M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $5,387,152 across 6 lines filed
VIII-1f All other contributions, gifts and grants$3,855,831
VIII-1g Noncash contributions (included above)$55,500
VIII-1h Total contributions, gifts and grants$3,855,831
VIII-3 Investment incomeExcluded from tax $1,598,937$1,598,937
VIII-7 Net gain or loss on sales of assetsRelated to mission −$67,616−$67,616
VIII-12 Total revenueRelated to mission −$67,616 · Unrelated business $0 · Excluded from tax $1,598,937$5,387,152
Part IX · Statement of functional expenses $6,157,288 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $3,123,691$3,123,691
IX-2 Grants to domestic individualsPrograms $70,000$70,000
IX-3 Grants and assistance to foreign recipientsPrograms $90,000$90,000
IX-5 Pay of current officers, directors and key staffPrograms $212,296 · Management $26,537 · Fundraising $26,537$265,370
IX-7 Other salaries and wagesPrograms $323,792 · Management $72,235 · Fundraising $7,883$403,910
IX-8 Pension plan contributionsPrograms $820 · Management $219 · Fundraising $55$1,094
IX-9 Other employee benefitsPrograms $37,740 · Management $5,250 · Fundraising $2,494$45,484
IX-10 Payroll taxesPrograms $36,751 · Management $4,733 · Fundraising $2,360$43,844
IX-11b Legal feesManagement $85,048$85,048
IX-11c Accounting feesManagement $35,103$35,103
IX-11g Other fees for servicesPrograms $141,135 · Management $42,435$183,570
IX-12 Advertising and promotionPrograms $41,139 · Management $2,540$43,679
IX-13 Office expensesPrograms $140,639 · Management $31,130$171,769
IX-14 Information technologyPrograms $132,984 · Management $30,174$163,158
IX-16 OccupancyPrograms $150,193 · Management $27,716 · Fundraising $9,631$187,540
IX-17 TravelPrograms $373,115 · Management $27,612$400,727
IX-22 Depreciation, depletion and amortizationManagement $15,278$15,278
IX-23 InsurancePrograms $17,798 · Management $2,292 · Fundraising $1,143$21,233
IX-24 Other expenses (24a–d)Programs $262,552 · Management $64,993$327,545
IX-24e All other expensesPrograms $372,946 · Management $106,299$479,245
IX-25 Total functional expensesPrograms $5,527,591 · Management $579,594 · Fundraising $50,103$6,157,288
Part X · Balance sheet $41,943,450 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $40,806,790$24,151,036
X-2 Savings and temporary cash investmentsStart of year $212,581$213,647
X-3 Pledges and grants receivableStart of year $500,000$0
X-9 Prepaid expenses and deferred chargesStart of year $11,639$10,569
X-10c Land, buildings and equipment, netStart of year $0$34,722
X-12 Other securities$16,869,036
X-15 Other assetsStart of year $816,898$664,440
X-16 Total assetsStart of year $42,347,908$41,943,450
X-17 Accounts payable and accrued expensesStart of year $195,337$266,566
X-25 Other liabilitiesStart of year $816,898$679,029
X-26 Total liabilitiesStart of year $1,012,235$945,595
X-27 Net assets without donor restrictionsStart of year $39,784,489$40,677,855
X-28 Net assets with donor restrictionsStart of year $1,551,184$320,000
X-32 Total net assets or fund balancesStart of year $41,335,673$40,997,855
X-33 Total liabilities and net assetsStart of year $42,347,908$41,943,450
Part XI · Reconciliation of net assets $40,997,855 net assets at year end
XI-1 Total revenue$5,387,152
XI-2 Total expenses$6,157,288
XI-3 Revenue less expenses−$770,136
XI-4 Net assets at start of year$41,335,673
XI-5 Net unrealized gains (losses) on investments$487,641
XI-7 Investment expenses−$55,323
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$40,997,855

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

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