Foic Charity: FY2021 Nonprofit Profile & Form 990 (EIN 88-0476282)

Revenue by fiscal year
FY2020	$1.4M
FY2021	$601K
FY2022	$38K
FY2023	−$4.5M
FY2024	$104K
FY2024	$154K

Expenses by fiscal year
FY2020	$891K
FY2021	$403K
FY2022	$987K
FY2023	$207K
FY2024	$542K
FY2024	$95K

Net assets by fiscal year
FY2020	$18.6M
FY2021	$18.8M
FY2022	$17.9M
FY2023	$13.2M
FY2024	$12.8M
FY2024	$12.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2001.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $403K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

David J Berardo

Director

$0Pt VII · Sec A

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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

Supports Pay-It-Forward.org's mission to help others.

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Provided by the organization

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3 programs · $402K · in their own filed words · FY2020

01

Provided donations or grants to public charties.

$326Kprogram expense

02

Provides donations or grants to educational programs.

$74Kprogram expense

03

Provided donations or grants to religious organizations.

$2Kprogram expense

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 · 73 grants · $2.6M · 2019–2024

University of CaliforniaFY2024$60,000

Benjamin Franklin SocietyFY2023$150,000

Individual RecipientFY2023$50,000

Human Rights Foundation INCNY · FY2023$50,000

The Seasteading InstituteCA · FY2023$50,000

District Commons INCCA · FY2023$50,000

Osteopathic Cranial Academy FoundFY2023$50,000

Crocker Art MuseumFY2023$50,000

American Friends of Italian Jewry INCNY · FY2023$25,000

Individual RecipientFY2022$75,000

Society LibraryFY2022$38,000

University of California Irvine FoundationCA · FY2022$36,000

Intergro FoundationFY2022$25,000

Crocker Art MuseumFY2022$10,000

Pomona CollegeCA · FY2022$5,200

UnhcrFY2022$250

Environmental Defense Fund IncorporatedNY · FY2022$100

Equal Justice America INCVA · FY2022$100

See all 73 grants →

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$601K

Ln 12

Investment incomeLn 3$429K

Gifts and grantsLn 1h$174K

Money outPt IX

$403K

Ln 25

Programscol B$403K

Owns and owesPt X

$18.8M

net assets · Ln 32

Cash and savingsLn 1–2$487K

Total assetsLn 16$18.8M

LiabilitiesLn 26$1K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$174K

Investment incomeLn 3$429K

Gains on assetsLn 7$378K

Total revenueLn 12$601K

Assets in detailPt X, end of year

CashLn 1$228K

SavingsLn 2$259K

Cash and savings togetherLn 1–2$487K

InvestmentsLn 11–13$18.4M

Total assetsLn 16$18.8M

LiabilitiesLn 26$1K

Net assetsLn 32$18.8M

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$369K	$487K
InvestmentsLn 11–13	$18.3M	$18.4M
Total assetsLn 16	$18.6M	$18.8M
LiabilitiesLn 26	$0	$1K
Net assetsLn 32	$18.6M	$18.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$352K	$352K
Legal feesLn 11b	$18K	$18K
Other expenses (24a–d)Ln 24	$33K	$33K
Total functional expensesLn 25	$403K	$403K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$104K	$542K	−$437K	$12.8M	990 PDF
FY2023	−$4.5M	$207K	−$4.7M	$13.2M	990 PDF
FY2022	$38K	$987K	−$949K	$17.9M	990 PDF
FY2021 Viewing	$601K	$403K	$198K	$18.8M	990 PDF
FY2020	$1.4M	$891K	$492K	$18.6M	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 $601,363 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $469,376$174,440

I-9 Program service revenue$0

I-10 Investment incomePrior year $895,738$429,232

I-11 Other revenuePrior year $17,896−$2,309

I-12 Total revenuePrior year $1,383,010$601,363

I-13 Grants and similar amounts paidPrior year $759,386$351,721

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $131,227$51,181

I-18 Total expensesPrior year $890,613$402,902

I-19 Revenue less expensesPrior year $492,397$198,461

Part VI · Governance 0 of 1 board members independent, 4 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members0

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $601,363 across 7 lines filed

VIII-1d Related organizations$22,605

VIII-1f All other contributions, gifts and grants$151,835

VIII-1h Total contributions, gifts and grants$174,440

VIII-3 Investment incomeExcluded from tax $51,019$51,019

VIII-7 Net gain or loss on sales of assetsRelated to mission $378,213$378,213

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business −$2,309−$2,309

VIII-12 Total revenueRelated to mission $378,213 · Unrelated business −$2,309 · Excluded from tax $51,019$601,363

Part IX · Statement of functional expenses $402,902 across 3 lines filed

IX-1 Grants to domestic organizationsPrograms $351,721$351,721

IX-11b Legal feesPrograms $18,228$18,228

IX-24 Other expenses (24a–d)Programs $32,953$32,953

IX-25 Total functional expensesPrograms $402,902 · Management $0 · Fundraising $0$402,902

Part X · Balance sheet $18,841,948 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $95,436$228,125

X-2 Savings and temporary cash investmentsStart of year $273,424$258,612

X-12 Other securitiesStart of year $18,273,627$18,355,211

X-16 Total assetsStart of year $18,642,487$18,841,948

X-18 Grants payable$1,000

X-26 Total liabilitiesStart of year $0$1,000

X-27 Net assets without donor restrictionsStart of year $18,642,487$18,840,948

X-32 Total net assets or fund balancesStart of year $18,642,487$18,840,948

X-33 Total liabilities and net assetsStart of year $18,642,487$18,841,948

Part XI · Reconciliation of net assets $18,840,948 net assets at year end

XI-1 Total revenue$601,363

XI-2 Total expenses$402,902

XI-3 Revenue less expenses$198,461

XI-4 Net assets at start of year$18,642,487

XI-10 Net assets at end of year$18,840,948

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

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Foic Charity FY2021 filing

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