1803 Fund EIN 92-2585176

1803 Fund

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Strengthens Black community cohesion, autonomy, and power in Portland. For fiscal year 2025 it reported $55.6M in revenue, $21.8M in expenses, and $40.8M in net assets.Pt I

Founded
2023
Type
Public charity (501(c)(3)) · Community Development
Location
Portland, OR
Website
1803fund.com
Filings
3 on file (2023–2025)
Revenue
$55.6MFY2025
Expenses
$21.8M
Net assets
$40.8M
People
8
Filings
3
Updates
0
More identity details & actions ⌄
EIN  92-2585176 Public charity (501(c)(3)) Portland, OR Founded 2023
Form 990 (PDF)
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Figures match the IRS filing checked 8/9/26 · see original: IRS
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Size
$10–100M
What they do
Strengthens Black community cohesion, autonomy, and power in Portland.
Leadership
Rukaiyah Adams · CEO/Secretary · $588K
Money in and out
$55.6M revenue, $21.8M expenses
Bottom line
92% program efficiency
Where the money goes · FY2025
Total revenue
$55.6M
Pt VIII · Ln 12
Total expenses
$21.8M
Pt IX · Ln 25
Net assets
$40.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $33.7M
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.08
Program efficiency
92%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
19.5mo
months of highly liquid reserves at operating expense rate▲ +183% vs prior filing year
Surplus margin
+61%
revenue over expenses, this year▲ +46% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$55.6M
FY2025▲ +148%
Expenses
$21.8M
FY2025▲ +67%
Total assets
$49.6M
FY2025▲ +512%
Total liabilities
$8.7M
FY2025▲ +758%
Total revenue
$55.6M
Pt VIII · Ln 12
Total expenses
$21.8M
Pt IX · Ln 25
Net assets
$40.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$33.7M
Total assetsPt X · Ln 16$49.6M
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 42
Mission & Programs · Part III

Where the work happens

3 program services account for $20.2M of program spending, described in the organization's own filed words · FY2025.
01

In 2025, the community investment team accomplished the FOLLOWING:1. Made a 10-YEAR, $75m commitment to underwrite direct service expenditures of self enhancement inc. And albina head START2. Launched the 1803 fund's place-making grant program to activate, enrich and fortify real estate assets in ALBINA3.

$16.8Mprogram expense
02

In 2025, the executive office team accomplished the FOLLOWING:1. Coordinated over $400k in responsive grants to support national and portland black leadership convenings 2. Launched the 1803 fund's external affairs practice to engage with and support public & municipal PARTNERS3.

$2.4Mprogram expense
03

In 2025, the 1803 real estate team accomplished the FOLLOWING:1. Refined the 1803 fund's 'rebuild albina' strategy to focus on direct real estate investment in historic ALBINA2. Formulated real estate investment framework and future acquisition PIPELINE3.

$930Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item C1803 Fund
EINHdr · item D92-2585176
Principal addressHdr · item CPortland, OR
WebsiteHdr · item J1803fund.com
Year of formationHdr · item L2023
State of legal domicileHdr · item MOR
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S20)
Ruling yearIRS BMFMar 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
CEO/Secretary
$587,548Pt VII · Sec A
VP, Partnerships
$233,282Pt VII · Sec A
VP, External Affairs
$205,253Pt VII · Sec A
Chief Operating Officer
$182,625Pt VII · Sec A
Dir, Data Strategy & Organizational Learning
$168,264Pt VII · Sec A
Community Partnerships Manager
$151,220Pt VII · Sec A
Board Treasurer
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Rukaiyah Adams’s $588K as CEO/Secretary is at the 84th percentile of top reported officer pay among 572 $10–100M community development 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

NameFY2025FY2024FY2023
Rukaiyah Adams$587,548$501,560$487,313
D'Artagnan Caliman$233,282$225,137$138,659
Mich Greenberg$225,048$121,531
Cyreena Boston Ashby$205,253
Cobi Byrd$182,625
Camille Idedevbo$168,264
Juma SEI$151,220
Curtrina Huff$104,666

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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Statement of Revenue

Part VIII
Contributions & grants$55.0M · 99%
Investment income$528K · 1%
Contributions & grants99%$55.0M
Investment income1%$528K
Program service revenue$29K
Total revenueLn 12$55.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08
Program services92%$20.2M
Management & general8%$1.7M
Total functional expensesLn 25$21.8M

Balance Sheet

Part X · end of year
CashLn 1$35.5M
Total assetsLn 16$49.6M
Total liabilitiesLn 26$8.7M
Total net assetsLn 32$40.8M
Months of cash on handcomputed19.5

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $35.5M · Operating expenses/yr $21.8M
19.5 months
Where the money goes
Program services
Program services $20.2M · Total expenses $21.8M
92%
Management & General
Management & general $1.7M · Total expenses $21.8M
8%
Fundraising
Fundraising $0 · Total expenses $21.8M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $2K · Solicited contributions (3-yr avg) $25.7M
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $55.0M · Total revenue $55.6M
99%
Government reliance
Government grants — · Total revenue $55.6M
Earned-income share
Program service revenue $29K · Total revenue $55.6M
0.05%
Investment reliance
Investment income $528K · Total revenue $55.6M
+0.9%
Program self-sufficiency
Program service revenue $29K · Total expenses $21.8M
0.1%
Growth & trend
Revenue growth (YoY)
This year $55.6M · Prior year $22.4M
+148%
Net-asset trend (YoY)
End of year $40.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $55.6M · Expenses $21.8M
+61%
Liabilities-to-Assets
Total liabilities — · Total assets $49.6M
Net-asset ratio
Net assets $40.8M · Total assets $49.6M
82%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $49.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rukaiyah Adams · Reported title CEO/SECRETARY · Highest reported compensation $588K · Total expenses $21.8M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.2M · Total expenses $21.8M
14%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 8%
Revenue growth 148%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 48 grants · $24.1M · 2024–2025
Self Enhancement INCOR · FY2025$5,000,000
Albina Head Start INCOR · FY2025$2,500,000
Albina Vision INCOR · FY2025$1,800,000
Portland Housing CenterOR · FY2025$1,000,000
Portland Art MuseumOR · FY2025$1,000,000
Albina Music TrustOR · FY2025$527,500
Taking OwnershipOR · FY2025$500,000
Prismid INCOR · FY2025$500,000
Williams & Russell CDCOR · FY2025$312,500
World Stage TheatreOR · FY2025$250,000
A10l Ventures LLC DBA Black Women on BoardsCA · FY2025$150,000
Lewis College of BusinessMI · FY2025$125,000
Bme CommunityOR · FY2025$125,000
Lion SpeaksOR · FY2025$61,000
All Ages Music PortlandOR · FY2025$35,000
Built OregonOR · FY2025$30,000
See all 48 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$55.6M revenue · viewing · ⤓ 990 PDF
FY2024$22.4M revenue · ⤓ 990 PDF
FY2023$0 revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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