Civic Intelligence

The Clear Fund

990 • Fiscal year 2016 • EIN 20-8625442

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

182 Howard Street No 208San Francisco, CA 94105

(415) 689-5803

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.58x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

64th percentile

0.43x

Higher debt load relative to revenue than 64% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

32nd percentile

-1.3%

Higher net margin than 32% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

58th percentile

$198,348

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

75th percentile

10%

Faster asset growth than 75% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

54th percentile

4.1%

Faster revenue growth than 54% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$13,708,185

Up $1,258,501 (+10%) from 2015

Net Assets

Down

$5,747,489

Down $246,233 (-4.1%) from 2015

Liabilities

Up

$7,960,696

Up $1,504,734 (+23%) from 2015

Revenue

Up

$18,366,934

Up $731,016 (+4.1%) from 2015

Expenses

Up

$18,607,090

Up $3,248,527 (+21%) from 2015

Net Income

Down

-$240,156

Down $2,517,511 (-111%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $527,740Liabilities 2010: $5,707Net Assets 2010: $522,0332010Assets 2011: $1,434,214Liabilities 2011: $595,332Net Assets 2011: $838,8822011Assets 2012: $2,371,475Liabilities 2012: $1,333,687Net Assets 2012: $1,037,7882012Assets 2013: $5,629,816Liabilities 2013: $3,436,588Net Assets 2013: $2,193,2282013Assets 2014: $8,233,496Liabilities 2014: $4,516,863Net Assets 2014: $3,716,6332014Assets 2015: $12,449,684Liabilities 2015: $6,455,962Net Assets 2015: $5,993,7222015Assets 2016: $13,708,185Liabilities 2016: $7,960,696Net Assets 2016: $5,747,4892016Assets 2017: $20,609,736Liabilities 2017: $12,177,550Net Assets 2017: $8,432,1862017Assets 2018: $26,349,456Liabilities 2018: $14,078,075Net Assets 2018: $12,271,3812018Assets 2019: $43,908,385Liabilities 2019: $21,453,454Net Assets 2019: $22,454,9312019Assets 2020: $98,437,477Liabilities 2020: $37,091,664Net Assets 2020: $61,345,8132020Assets 2021: $165,963,654Liabilities 2021: $86,770,175Net Assets 2021: $79,193,4792021Assets 2022: $117,537,288Liabilities 2022: $39,746,494Net Assets 2022: $77,790,7942022Assets 2023: $208,555,407Liabilities 2023: $26,714,815Net Assets 2023: $181,840,5922023Assets 2024: $287,962,096Liabilities 2024: $21,895,257Net Assets 2024: $266,066,8392024

Highlighted filing

2016

Assets$13,708,185
Liabilities$7,960,696
Net Assets$5,747,489

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0-$100MExpenses 2010: $619,8272010Expenses 2011: $1,029,4352011Expenses 2012: $2,300,2542012Revenue 2013: $6,587,734Expenses 2013: $5,432,433Net Income 2013: $1,155,3012013Revenue 2014: $11,088,700Expenses 2014: $9,564,626Net Income 2014: $1,524,0742014Revenue 2015: $17,635,918Expenses 2015: $15,358,563Net Income 2015: $2,277,3552015Revenue 2016: $18,366,934Expenses 2016: $18,607,090Net Income 2016: -$240,1562016Revenue 2017: $29,450,003Expenses 2017: $26,763,776Net Income 2017: $2,686,2272017Revenue 2018: $36,024,182Expenses 2018: $32,186,559Net Income 2018: $3,837,6232018Revenue 2019: $51,079,383Expenses 2019: $40,896,067Net Income 2019: $10,183,3162019Revenue 2020: $117,018,758Expenses 2020: $78,127,328Net Income 2020: $38,891,4302020Revenue 2021: $206,158,416Expenses 2021: $188,307,536Net Income 2021: $17,850,8802021Revenue 2022: $151,012,759Expenses 2022: $152,422,669Net Income 2022: -$1,409,9102022Revenue 2023: $219,626,118Expenses 2023: $115,576,357Net Income 2023: $104,049,7612023Revenue 2024: $269,542,773Expenses 2024: $183,707,000Net Income 2024: $85,835,7732024

Highlighted filing

2016

Revenue$18,366,934
Expenses$18,607,090
Net Income-$240,156
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$19,368,032
Mission and Program Overview

Mission

The clear fund (aka givewell) finds outstanding giving opportunities and publishes the full details of our analysis to help donors decide where to give.

Givewell is dedicated to finding outstanding giving opportunities and publishing the full details of our analysis to help donors decide where to give.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,691,663$8,195,443▲ $3,503,780
Cash and Non-Interest-Bearing Accounts$7,485,538$4,988,876▼ $2,496,662
Investments in Publicly Traded Securities$79,373$389,288▲ $309,915
Intangible Assets$175,000$100,000▼ $75,000
Prepaid Expenses and Deferred Charges$18,110$22,968▲ $4,858
Land, Buildings, and Equipment, Net$0$11,610▲ $11,610
Total Assets$12,449,684$13,708,185▲ $1,258,501
Liabilities
Grants Payable$6,384,645$7,809,110▲ $1,424,465
Accounts Payable and Accrued Expenses$71,317$151,586▲ $80,269
Total Liabilities$6,455,962$7,960,696▲ $1,504,734
Net Assets / Fund Balance
Unrestricted Net Assets$5,493,722$4,661,878▼ $831,844
Temporarily Rstr Net Assets$500,000$1,085,611▲ $585,611
Total Net Assets Fund Balance$5,993,722$5,747,489▼ $246,233
Total Liabilities and Net Assets / Fund Balance$12,449,684$13,708,185▲ $1,258,501

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,610$1,264$12,874
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David M RoodmanSenior AdvisorFT$198,348-$198,348
Christopher R SomervilleProgram OfficerFT$194,730-$194,730
Chloe F CockburnProgram OfficerFT$165,000$18,342$183,342
Elie HassenfeldExecutive DirectorFT$172,378$262$172,640
Holden KarnofskyCo-executive Director & SecretaryFT$161,484$5,706$167,190
Jaime M YassifProgram OfficerFT$113,123-$113,123
Alexander L BergerProgram OfficerFT$104,288-$104,288

Board Members and Trustees

NameTitle
Tom RutledgeBoard Chair
Tim OgdenBoard Vice-chair
Brigid SlipkaBoard Member
Greg JensenBoard Member
Jake GibsonBoard Member
Julia WiseBoard Member
Phil SteinmeyerBoard Member
Rob ReichBoard Member
Cari TunaBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$18,091,963
Program Service Revenue
$0
Investment Income
$-3,937
Other Revenue
$278,908
All Other Contributions
$18,091,963
Change in Net Assets
$-240,156

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded70$1,265,266Fair Market Value
Total Noncash Contributions70$1,265,266-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,366,934
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,412,346
Total Revenue per Audited Statements
$19,779,280
Total Revenue per Form 990
$18,366,934
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$13,567,456
Salaries, Compensation, and Employee Benefits$3,653,248
Other Expenses$1,386,386
Total Fundraising Expense$81,008
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,337,865--$12,337,865
Other Salaries and Wages$2,162,575$683,173$49,252$2,895,000
Foreign Grants$1,229,591--$1,229,591
Fees for Services Other$449,571$10,027$3,029$462,627
Current Officers, Directors, Trustees, and Key Employees$253,854$80,194$5,781$339,829
Payroll Taxes$178,360$56,345$4,062$238,767
Other Employee Benefits$134,200$42,395$3,057$179,652
Travel$120,878$38,187$2,753$161,818
Fees for Services Legal$12,255$110,297-$122,552
Information Technology$87,662$22,429$3,625$113,716
Office Expenses$68,774$21,726$1,566$92,066
Depreciation Depletion$64,824$7,626$3,814$76,264
Fees for Services Accounting$6,638$59,738-$66,376
Conferences and Meetings$23,603$7,456$538$31,597
All Other Expenses$23,121$7,304$526$30,951
Insurance-$20,193-$20,193
Advertising$14,864-$1,652$16,516
Occupancy$9,560$3,020$218$12,798
Other Expenses$8,400$988$494$9,882
Total Functional Expenses$17,332,959$1,193,123$81,008$18,607,090

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$20,025,513
Expenses per Audited Statements$18,607,090
Total Expenses per Form 990$18,607,090
Expenses Not Reported on Form 990$1,418,423
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Against Malaria FoundationKansas City, MO501(c)(3)Operating Support$7,541,333
Give Directly IncNew York, NY501(c)(3)Operating Support$1,337,393
Imperial College FoundationAtlanta, GA501(c)(3)Operating Support$1,334,509
Evidence ActionWashington, DC501(c)(3)Operating Support$1,193,789
National Foundation for the Centers for Disease Control and Prevention IncAtlanta, GA501(c)(3)Food Fortification Initiative$362,137
The End FundNew York, NY501(c)(3)Operating Support$151,228
SightsaversWilmington, DE501(c)(3)Operating Support$135,322
Project Healthy ChildrenCambridge, MA501(c)(3)Operating Support$116,725
Global Alliance for Improved Nutrition (gain)Washington, DC501(c)(3)Operating Support$105,317
Living GoodsSan Francisco, CA501(c)(3)Operating Support$60,112

International Summary

Offices
0
Employees
0
Spending
$1,229,591

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Grantmaking-00$642,194
North AmericaGrantmaking-00$587,397
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The director of operations and general counsel, senior research analyst, and the executive director review the draft form 990. Upon review, the form 990 is distributed to the board of directors electronically prior to filing for review.

Form 990, Part VI, Section B, Line 12C

As stated in article 9, section 6 of our bylaws: each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the corporation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The board secretary is responsible for enforcing compliance. Signed conflict of interest questionnaires are currently on file for all board members from within the last 12 months.

Form 990, Part VI, Section B, Line 15

The process for compensation review is outlined in article 9, section 1 of our bylaws, available at http://www.givewell.org/about/official-records. This process was followed in full to set the current level of compensation for both compensated officers of the organization.

Form 990, Part VI, Section C, Line 19

Relevant records are available to the public for download from our public website, at http://www.givewell.org/about/official-records. Such records include: - all available financial statements - our bylaws - our conflict of interest policy - our articles of incorporation

Filing and Contact Details

Filer

Filer Name
The Clear Fund
EIN
20-8625442
Phone
4156895803
Address
182 HOWARD STREET NO 208, SAN FRANCISCO, CA 94105
Doing Business As
Givewell

Signing Officer

Name
Elie Hassenfeld
Title
Executive Director
Phone
4156895803
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elie Hassenfeld
Formed
2007
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
9
Employees
56
Volunteers
9

Preparer

Firm
Hood & Strong Llp
Address
275 BATTERY ST STE 900, SAN FRANCISCO, CA 94111
Preparer
Maga E Kisriev
Phone
4157810793
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

In 2016, the board formed an audit committee and the formation was ratified by board vote at the march 27, 2017 board meeting. The audit committee is responsible for the oversight of the audit of its financial statements and selection of an independent accountant.

Financial Statement Notes

PART X, LINE 2:

Givewell is a non-profit organization exempt from federal income tax under section 501(c)(3) of the internal revenue code and a similar provision for state taxing authorities. In addition, givewell has been determined by the internal revenue service not to be a private foundation within the meaning of section 509(a) of the internal revenue code. Givewell's accounting policy provides that a tax expense or benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination. Management has determined that givewell has taken no uncertain tax position that would require adjustment to the financial statements.

Raw XML AppendixShowing 400 of 819 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm12ALEXANDER L BERGER
IRS990/Form990PartVIISectionAGrp/PersonNm13CHRISTOPHER R SOMERVILLE
IRS990/Form990PartVIISectionAGrp/PersonNm14JAIME M YASSIF
IRS990/Form990PartVIISectionAGrp/PersonNm15DAVID M ROODMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt3EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4CO-EXECUTIVE DIRECTOR & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11PROGRAM OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12PROGRAM OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13PROGRAM OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt14PROGRAM OFFICER
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IRS990/LocalChaptersInd00
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE CLEAR FUND (AKA GIVEWELL) FINDS OUTSTANDING GIVING OPPORTUNITIES AND PUBLISHES THE FULL DETAILS OF OUR ANALYSIS TO HELP DONORS DECIDE WHERE TO GIVE.
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt021726
IRS990/OfficeExpensesGrp/ProgramServicesAmt068774
IRS990/OfficeExpensesGrp/TotalAmt092066
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt03057
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt042395
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IRS990/OtherExpensesGrp/Desc0BANK AND PROCESSING FEE
IRS990/OtherExpensesGrp/Desc1STAFF RECRUITMENT
IRS990/OtherExpensesGrp/Desc2PUBLIC WEBSITE
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IRS990/OtherExpensesGrp/FundraisingAmt1494
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt013136
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04331
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01987
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01970
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IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95180
IRS990ScheduleA/PublicSupportPY170Pct00.92310
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IRS990ScheduleA/TotalSupportAmt055906243
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt01418423
IRS990ScheduleD/DonatedServicesUseFcltsAmt01418423

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$288$21.9$266$270$184$85.8
2023Detailed filing. Detailed filing data is available for this year.$209$26.7$182$220$116$104
2022Detailed filing. Detailed filing data is available for this year.$118$39.7$77.8$151$152$1.41
2021Detailed filing. Detailed filing data is available for this year.$166$86.8$79.2$206$188$17.9
2020Detailed filing. Detailed filing data is available for this year.$98.4$37.1$61.3$117$78.1$38.9
2019Detailed filing. Detailed filing data is available for this year.$43.9$21.5$22.5$51.1$40.9$10.2
2018Detailed filing. Detailed filing data is available for this year.$26.3$14.1$12.3$36.0$32.2$3.84
2017Detailed filing. Detailed filing data is available for this year.$20.6$12.2$8.43$29.5$26.8$2.69
2016Detailed filing. Detailed filing data is available for this year.$13.7$7.96$5.75$18.4$18.6$0.24
2015Detailed filing. Detailed filing data is available for this year.$12.4$6.46$5.99$17.6$15.4$2.28
2014Detailed filing. Detailed filing data is available for this year.$8.23$4.52$3.72$11.1$9.56$1.52
2013Detailed filing. Detailed filing data is available for this year.$5.63$3.44$2.19$6.59$5.43$1.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$1.33$1.04$2.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.60$0.84$1.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.01$0.52$0.62