The Walter Kaitz Foundation

Washington, DCUnknown exempt organizationEIN 94-2666764

The walter kaitz foundation is a national organization dedicated to diversity within the cable and broadband industry.

95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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 5
filings with a surplus
Average deficit $766K a year · 51% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $35K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
17
of 18 voting members
Looks good: 17 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-21% vs prior year
Spent
$4.6M
To programs
95%
Net assets
$0
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▼ -21%
Revenue by fiscal year
FY2020$1.6M
FY2021$1.6M
FY2022$1.6M
FY2023$1.5M
FY2024$1.2M
Expenses
$4.6M
FY2024▲ +154%
Expenses by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$1.6M
FY2023$1.8M
FY2024$4.6M
Net assets
$0
FY2024▼ -100%
Net assets by fiscal year
FY2020$3.9M
FY2021$4.0M
FY2022$3.4M
FY2023$3.5M
FY2024$0

From the FY2024 Form 990 (year ending May 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $4.4M Management & general 1% · $66K Fundraising 4% · $172K

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

Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021FY2020
Michelle Ray$432,233$279,159$281,022

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 The Walter Kaitz 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes diversity within the cable and broadband industry nationwide.

Provided by the organization

This section is blank until The Walter Kaitz Foundation claims this page.

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2 program services account for $4.4M of program spending, described in the organization's own filed words · FY2024.
01

Grants Program

The walter kaitz foundation funds programs that drive diversity, equity, and inclusion across the cable, media, entertainment, and technology industries. Our grants support initiatives that provide multi-year paid internships for underrepresented students, professional development for diverse talent, mentorship programs, and leadership…

$4.2Mprogram expense
02

Outreach Program

The foundation supports research that benchmarks industry progress on diversity and pay equity. These studies provide critical data on multi-ethnic employment and gender equality, helping companies enhance recruitment, retention, and compensation practices.

$129Kprogram 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$35K
Grants paid · 22 grants · $7.3M · 2020–2024
Ncta Education Foundation INCDC · FY2024$3,137,567
Natl Assoc for Multi-Ethnicity in CommNY · FY2024$340,000
The Wict Network INCVA · FY2024$300,000
T Howard FoundationMD · FY2024$175,000
T Howard FoundationMD · FY2023$141,500
Natl Assoc for Multi-Ethnicity in CommNY · FY2023$110,000
Hidden Genius ProjectCA · FY2023$40,000
Natl Assoc for Multi-Ethnicity in CommNY · FY2022$149,872
T Howard FoundationMD · FY2022$118,987
Natl Assoc for Multi-Ethnicity in CommNY · FY2021$270,000
T Howard FoundationMD · FY2021$45,000
See all 22 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$941K
Investment incomeLn 3$262K
Money outPt IX
$4.6M
Ln 25
Programscol B$4.4M
Managementcol C$66K
Fundraisingcol D$172K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$941K
Investment incomeLn 3$262K
Gains on assetsLn 7$240K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMay
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$122K$0
InvestmentsLn 11–13$3.5M$0
Land, buildings, equipmentLn 10c$5K$0
Total assetsLn 16$3.7M$0
LiabilitiesLn 26$124K$0
Net assetsLn 32$3.5M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.2M$4.2M
Other salaries and wagesLn 7$134K$47K$27K$60K
Pension plan contributionsLn 8$12K$4K$2K$5K
Other employee benefitsLn 9$10K$3K$2K$4K
Payroll taxesLn 10$8K$3K$2K$4K
Legal feesLn 11b$98K$34K$20K$44K
Accounting feesLn 11c$24K$8K$5K$11K
Investment management feesLn 11f$1K$1K
Other fees for servicesLn 11g$73K$23K$8K$42K
Office expensesLn 13$855$299$171$385
TravelLn 17$847$297$169$381
Depreciation, depletion and amortizationLn 22$924$323$185$416
Other expenses (24a–d)Ln 24$5K$5K$38$89
Total functional expensesLn 25$4.6M$4.4M$66K$172K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$4.6M−$3.4M$0 990 PDF
FY2023 $1.5M$1.8M−$285K$3.5M 990 PDF
FY2022 $1.6M$1.6M$69K$3.4M 990 PDF
FY2021 $1.6M$1.7M−$150K$4.0M 990 PDF
FY2020 $1.6M$1.7M−$62K$3.9M 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 $1,202,826 across 6 lines filed
VIII-1b Membership dues$802,836
VIII-1f All other contributions, gifts and grants$138,000
VIII-1h Total contributions, gifts and grants$940,836
VIII-3 Investment incomeExcluded from tax $22,154$22,154
VIII-7 Net gain or loss on sales of assetsExcluded from tax $239,836$239,836
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $261,990$1,202,826
Part IX · Statement of functional expenses $4,605,087 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $4,237,567$4,237,567
IX-7 Other salaries and wagesPrograms $46,783 · Management $26,733 · Fundraising $60,150$133,666
IX-8 Pension plan contributionsPrograms $4,209 · Management $2,405 · Fundraising $5,411$12,025
IX-9 Other employee benefitsPrograms $3,346 · Management $1,912 · Fundraising $4,302$9,560
IX-10 Payroll taxesPrograms $2,889 · Management $1,650 · Fundraising $3,714$8,253
IX-11b Legal feesPrograms $34,388 · Management $19,650 · Fundraising $44,213$98,251
IX-11c Accounting feesPrograms $8,386 · Management $4,792 · Fundraising $10,782$23,960
IX-11f Investment management feesManagement $1,113$1,113
IX-11g Other fees for servicesPrograms $23,407 · Management $7,550 · Fundraising $41,913$72,870
IX-13 Office expensesPrograms $299 · Management $171 · Fundraising $385$855
IX-17 TravelPrograms $297 · Management $169 · Fundraising $381$847
IX-22 Depreciation, depletion and amortizationPrograms $323 · Management $185 · Fundraising $416$924
IX-24 Other expenses (24a–d)Programs $5,069 · Management $38 · Fundraising $89$5,196
IX-25 Total functional expensesPrograms $4,366,963 · Management $66,368 · Fundraising $171,756$4,605,087
Part X · Balance sheet $0 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $23,469$0
X-2 Savings and temporary cash investmentsStart of year $98,346$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $70,000$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $4,618$0
X-11 Publicly traded securitiesStart of year $3,470,029$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $3,666,462$0
X-17 Accounts payable and accrued expensesStart of year $123,782$0
X-26 Total liabilitiesStart of year $123,782$0
X-27 Net assets without donor restrictionsStart of year $3,542,680$0
X-32 Total net assets or fund balancesStart of year $3,542,680$0
X-33 Total liabilities and net assetsStart of year $3,666,462$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$1,202,826
XI-2 Total expenses$4,605,087
XI-3 Revenue less expenses−$3,402,261
XI-4 Net assets at start of year$3,542,680
XI-5 Net unrealized gains (losses) on investments−$140,419
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

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

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