Philippine Development Foundation EIN 94-3369973

Philippine Development Foundation

EIN  94-3369973 Public charity (501(c)(3)) Palo Alto, CA
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Connects Filipino-American communities with resources to support civil society in the Philippines.
Leadership
Angelina Castro · Executive Director (until 07/24) · $43K
Money in and out
$433K revenue, $447K expenses
Bottom line
79% program efficiency

Connects Filipino-American communities with resources to support civil society in the Philippines. For fiscal year 2024 it reported $433K in revenue, $447K in expenses, and $461K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$433K
Pt VIII · Ln 12
Total expenses
$447K
Pt IX · Ln 25
Net assets
$461K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$14K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.18 Fundraising $0.03
Program efficiency
79%
of spending reaches programs▲ +15% vs prior filing year
Operating runway
12.5mo
months of highly liquid reserves at operating expense rate▼ -26% vs prior filing year
Surplus margin
-3%
revenue over expenses, this year▲ +97% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$433K
FY2024▲ +201%
Expenses
$447K
FY2024▲ +51%
Total assets
$471K
FY2024▲ +14%
Total liabilities
$10K
FY2024▼ -21%
Total revenue
$433K
Pt VIII · Ln 12
Total expenses
$447K
Pt IX · Ln 25
Net assets
$461K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$14K
Total assetsPt X · Ln 16$471K
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

1 program service account for $353K of program spending, described in the organization's own filed words · FY2024.
01

The 2024 annual gala is phildev's signature fundraiser for the benefit of programs that provide stem scholarships to college students. It also doubles as a program to recognize achievements in education, innovation and entrepreneurship through phildev awards and inspire the next generation of leaders and innovators.

$353Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPhilippine Development Foundation
EINHdr · item D94-3369973
Principal addressHdr · item CPalo Alto, CA
WebsiteHdr · item Jwww.phildev.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q300)
Ruling yearIRS BMFJan 2001

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director (until 07/24)
$43,428Pt VII · Sec A
Executive Director
$37,992Pt VII · Sec A
Trustee (until 05/24)
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Angelina Castro’s $43K as Executive Director (until 07/24) is at the 40th percentile of top reported officer pay among 1637 $100K–1M international 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Angelina Castro$43,428$85,000$85,000$85,000$84,728
Olivia De Jesus$37,992

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 & grants119%$517K
Investment income$644
Total revenueLn 12$433K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.18 Fundraising $0.03
Program services79%$353K
Management & general18%$82K
Fundraising3%$12K
Total functional expensesLn 25$447K

Balance Sheet

Part X · end of year
CashLn 1$375K
Total assetsLn 16$471K
Total liabilitiesLn 26$10K
Total net assetsLn 32$461K
Months of cash on handcomputed10.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $452K · Operating expenses (Pt IX) $447K · Less non-cash grants $13K · Cash operating expenses/yr $433K
12.5 months
Where the money goes
Program services
Program services $353K · Total expenses $447K
79%
Management & General
Management & general $82K · Total expenses $447K
18%
Fundraising
Fundraising $12K · Total expenses $447K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $22K · Solicited contributions (3-yr avg) $368K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $517K · Total revenue $433K
119%
Government reliance
Government grants — · Total revenue $433K
Earned-income share
Program service revenue $0 · Total revenue $433K
0%
Investment reliance
Investment income $644 · Total revenue $433K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $447K
0%
Growth & trend
Revenue growth (YoY)
This year $433K · Prior year $144K
+201%
Revenue CAGR
FY2020 $548K · FY2024 $433K
-6%
Net-asset trend (YoY)
End of year $461K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $433K · Expenses $447K
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $471K
Net-asset ratio
Net assets $461K · Total assets $471K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $76K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $471K
16%
People & payroll
Highest Reported Total Compensation
Individual Angelina Castro · Reported title EXECUTIVE DIRECTOR (UNTIL 07/24) · Highest reported compensation $43K · Total expenses $447K
10%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $102K · Total expenses $447K
23%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 18%
Fundraising cost ratio 2%
Revenue growth 201%
Investment management fee ratio 0%
Accounting fee ratio 9%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$29K

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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
FY2024 (Latest)$433K revenue · viewing · ⤓ 990 PDF
FY2023$144K revenue · ⤓ 990 PDF
FY2022$362K revenue · ⤓ 990 PDF
FY2021$420K revenue · ⤓ 990 PDF
FY2020$548K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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