1803 Fund FY2024 filing

Tax-deductible

Portland, OR501(c)(3)Since 2023Community DevelopmentEIN 92-2585176

To establish a resilient financial ecosystem that supports the long-term well-being of portland's black community by investing in education, preserving cultural heritage and fostering community via long-term grant funding, partnerships and investments.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · 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
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
2 of 3
filings with a surplus
Average surplus $13.6M a year · 52% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 6.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$22.4M
Spent
$13.1M
To programs
91%
Net assets
$7.1M
By yearFY2023–FY2025
Revenue
$22.4M
FY2024
Revenue by fiscal year
FY2023$0
FY2024$22.4M
FY2025$55.6M
Expenses
$13.1M
FY2024▲ +484%
Expenses by fiscal year
FY2023$2.2M
FY2024$13.1M
FY2025$21.8M
Net assets
$7.1M
FY2024▲ +415%
Net assets by fiscal year
FY2023−$2.2M
FY2024$7.1M
FY2025$40.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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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 ruling in Mar 2024.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $11.9M Management & general 9% · $1.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

8 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/Secretary
$501,560Pt VII · Sec A
VP, Community Partnerships
$225,137Pt VII · Sec A
VP, Investments
$225,048Pt VII · Sec A
Finance and Accounting Manager
$104,666Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt 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.

See 1803 Fund 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Strengthens Black community cohesion, autonomy, and power in Portland.

Provided by the organization

This section is blank until 1803 Fund claims this page.

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3 program services account for $11.9M of program spending, described in the organization's own filed words · FY2024.
01

The community partnership team managed the grantmaking for the planning and strategic partnership "for the future" grant cycles. Including invitations to grantees, site visits, review of applications, final recommendations, and board approvals, all of which awarded a total of $9.1m in grants.

$11.2Mprogram expense
02

In 2024, 1803 Fund Communications Staff Successfully

Completed the foundational 1803 philosophy and organizational practice document, including key messages. Completed the inaugural annual report. Completed a design and language overhaul of the fund's website.

$329Kprogram expense
03

Defined investment platform with policies, processes and a capital model. Established investment committee to assist board in discharging fiduciary duties. Began evaluating investment transactions. Several offers made.

$319Kprogram 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 · 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 →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$22.4M
Ln 12
Gifts and grantsLn 1h$22.1M
Investment incomeLn 3$310K
Fees for servicesLn 2g$4K
Money outPt IX
$13.1M
Ln 25
Programscol B$11.9M
Managementcol C$1.2M
Owns and owesPt X
$7.1M
net assets · Ln 32
Cash and savingsLn 1–2$7.5M
Total assetsLn 16$8.1M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
8
listed · VII A
PaidVII A4
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$22.1M
Fees for servicesLn 2g$4K
Investment incomeLn 3$310K
Total revenueLn 12$22.4M
Assets in detailPt X, end of year
CashLn 1$275K
SavingsLn 2$7.2M
Cash and savings togetherLn 1–2$7.5M
Land, buildings, equipmentLn 10c$11K
Other assetsLn 15$539K
Total assetsLn 16$8.1M
LiabilitiesLn 26$1.0M
Net assetsLn 32$7.1M
OperationsPt I, VI
EmployeesI 512
VolunteersI 62
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$5.1M$7.5M
Land, buildings, equipmentLn 10c$13K$11K
Total assetsLn 16$5.9M$8.1M
LiabilitiesLn 26$8.1M$1.0M
Net assetsLn 32−$2.2M$7.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9.1M$9.1M
Pay of current officers, directors and key staffLn 5$565K$445K$120K
Other salaries and wagesLn 7$934K$735K$199K
Pension plan contributionsLn 8$160K$126K$34K
Other employee benefitsLn 9$63K$50K$13K
Payroll taxesLn 10$92K$72K$19K
Legal feesLn 11b$59K$30K$28K
Accounting feesLn 11c$37K$19K$18K
Other fees for servicesLn 11g$846K$439K$408K
Advertising and promotionLn 12$187K$97K$90K
Office expensesLn 13$186K$180K$7K
Information technologyLn 14$37K$36K$1K
OccupancyLn 16$250K$158K$92K
TravelLn 17$50K$31K$19K
Conferences, conventions and meetingsLn 19$19K$18K$673
InterestLn 20$161K$102K$59K
Depreciation, depletion and amortizationLn 22$3K$2K$1K
InsuranceLn 23$46K$28K$17K
Other expenses (24a–d)Ln 24$261K$169K$92K
Total functional expensesLn 25$13.1M$11.9M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $55.6M$21.8M$33.7M$40.8M 990 PDF
FY2024 Viewing $22.4M$13.1M$9.3M$7.1M 990 PDF
FY2023 $0$2.2M−$2.2M−$2.2M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $22,414,164 across 5 lines filed
VIII-1f All other contributions, gifts and grants$22,100,000
VIII-1h Total contributions, gifts and grants$22,100,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,700$3,700
VIII-3 Investment incomeExcluded from tax $310,464$310,464
VIII-12 Total revenueRelated to mission $3,700 · Unrelated business $0 · Excluded from tax $310,464$22,414,164
Part IX · Statement of functional expenses $13,099,256 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $9,144,000$9,144,000
IX-5 Pay of current officers, directors and key staffPrograms $444,523 · Management $120,221$564,744
IX-7 Other salaries and wagesPrograms $735,019 · Management $198,784$933,803
IX-8 Pension plan contributionsPrograms $125,580 · Management $33,963$159,543
IX-9 Other employee benefitsPrograms $49,867 · Management $13,486$63,353
IX-10 Payroll taxesPrograms $72,065 · Management $19,490$91,555
IX-11b Legal feesPrograms $30,403 · Management $28,278$58,681
IX-11c Accounting feesPrograms $19,225 · Management $17,881$37,106
IX-11g Other fees for servicesPrograms $438,559 · Management $407,909$846,468
IX-12 Advertising and promotionPrograms $97,088 · Management $90,303$187,391
IX-13 Office expensesPrograms $179,780 · Management $6,636$186,416
IX-14 Information technologyPrograms $35,781 · Management $1,321$37,102
IX-16 OccupancyPrograms $158,337 · Management $91,562$249,899
IX-17 TravelPrograms $30,590 · Management $19,209$49,799
IX-19 Conferences, conventions and meetingsPrograms $18,227 · Management $673$18,900
IX-20 InterestPrograms $101,736 · Management $58,831$160,567
IX-22 Depreciation, depletion and amortizationPrograms $1,901 · Management $1,100$3,001
IX-23 InsurancePrograms $28,393 · Management $17,255$45,648
IX-24 Other expenses (24a–d)Programs $169,377 · Management $91,903$261,280
IX-25 Total functional expensesPrograms $11,880,451 · Management $1,218,805 · Fundraising $0$13,099,256
Part X · Balance sheet $8,090,342 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $5,116,836$274,931
X-2 Savings and temporary cash investments$7,221,667
X-4 Accounts receivableStart of year $29,714$1,902
X-9 Prepaid expenses and deferred chargesStart of year $58,686$42,612
X-10c Land, buildings and equipment, netStart of year $13,380$10,505
X-15 Other assetsStart of year $679,301$538,725
X-16 Total assetsStart of year $5,897,917$8,090,342
X-17 Accounts payable and accrued expensesStart of year $399,272$386,521
X-25 Other liabilitiesStart of year $742,126$632,394
X-26 Total liabilitiesStart of year $8,141,398$1,018,915
X-27 Net assets without donor restrictionsStart of year −$2,243,481$7,071,427
X-32 Total net assets or fund balancesStart of year −$2,243,481$7,071,427
X-33 Total liabilities and net assetsStart of year $5,897,917$8,090,342
Part XI · Reconciliation of net assets $7,071,427 net assets at year end
XI-1 Total revenue$22,414,164
XI-2 Total expenses$13,099,256
XI-3 Revenue less expenses$9,314,908
XI-4 Net assets at start of year−$2,243,481
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,071,427

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

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