Civic Intelligence

Ieee Foundation Inc.

990 • Fiscal year 2015 • EIN 23-7310664

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 10, 2016

445 Hoes LanePiscataway, NJ 08854

(732) 981-0060

Siviq Scores

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

Liabilities / Assets

31st percentile

0.06x

Higher debt load relative to assets than 31% of similar nonprofits.

2015 filings • NTEE B • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

54th percentile

0.59x

Higher debt load relative to revenue than 54% of similar nonprofits.

2015 filings • NTEE B • $25M-$50M nonprofits • Source year 2015

Net Margin

9th percentile

-18%

Higher net margin than 9% of similar nonprofits.

2015 filings • NTEE B • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

89th percentile

$479,211

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 11.1% of source-year revenue.

2015 filings • NTEE B • $25M-$50M nonprofits • Source year 2015

Asset Growth

15th percentile

-3.2%

Faster asset growth than 15% of similar nonprofits.

2015 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

12th percentile

-22%

Faster revenue growth than 12% of similar nonprofits.

2015 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Down

$43,770,226

Down $1,439,617 (-3.2%) from 2014

Net Assets

Down

$41,217,873

Down $2,116,247 (-4.9%) from 2014

Liabilities

Up

$2,552,353

Up $676,630 (+36%) from 2014

Revenue

Down

$4,303,694

Down $1,201,139 (-22%) from 2014

Expenses

Up

$5,078,141

Up $313,839 (+6.6%) from 2014

Net Income

Down

-$774,447

Down $1,514,978 (-205%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $32,698,524Liabilities 2010: $1,310,544Net Assets 2010: $31,387,9802010Assets 2011: $33,633,753Liabilities 2011: $1,720,536Net Assets 2011: $31,913,2172011Assets 2012: $36,983,423Liabilities 2012: $1,671,740Net Assets 2012: $35,311,6832012Assets 2013: $42,598,236Liabilities 2013: $1,378,079Net Assets 2013: $41,220,1572013Assets 2014: $45,209,843Liabilities 2014: $1,875,723Net Assets 2014: $43,334,1202014Assets 2015: $43,770,226Liabilities 2015: $2,552,353Net Assets 2015: $41,217,8732015Assets 2016: $46,326,504Liabilities 2016: $2,310,341Net Assets 2016: $44,016,1632016Assets 2018: $49,549,756Liabilities 2018: $2,967,322Net Assets 2018: $46,582,4342018Assets 2019: $56,278,496Liabilities 2019: $2,575,456Net Assets 2019: $53,703,0402019Assets 2020: $61,895,233Liabilities 2020: $1,474,065Net Assets 2020: $60,421,1682020Assets 2021: $72,402,966Liabilities 2021: $1,309,525Net Assets 2021: $71,093,4412021Assets 2022: $68,593,185Liabilities 2022: $2,195,251Net Assets 2022: $66,397,9342022Assets 2023: $76,534,979Liabilities 2023: $2,337,297Net Assets 2023: $74,197,6822023Assets 2024: $84,710,583Liabilities 2024: $2,618,530Net Assets 2024: $82,092,0532024

Highlighted filing

2015

Assets$43,770,226
Liabilities$2,552,353
Net Assets$41,217,873

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,991,6032010Expenses 2011: $4,258,0842011Expenses 2012: $4,155,0932012Revenue 2013: $5,738,346Expenses 2013: $4,223,752Net Income 2013: $1,514,5942013Revenue 2014: $5,504,833Expenses 2014: $4,764,302Net Income 2014: $740,5312014Revenue 2015: $4,303,694Expenses 2015: $5,078,141Net Income 2015: -$774,4472015Revenue 2016: $6,249,650Expenses 2016: $4,927,455Net Income 2016: $1,322,1952016Revenue 2018: $7,081,491Expenses 2018: $6,882,086Net Income 2018: $199,4052018Revenue 2019: $7,612,014Expenses 2019: $5,711,704Net Income 2019: $1,900,3102019Revenue 2020: $6,413,380Expenses 2020: $4,408,522Net Income 2020: $2,004,8582020Revenue 2021: $9,050,639Expenses 2021: $4,066,376Net Income 2021: $4,984,2632021Revenue 2022: $9,548,823Expenses 2022: $5,689,175Net Income 2022: $3,859,6482022Revenue 2023: $10,028,105Expenses 2023: $6,886,885Net Income 2023: $3,141,2202023Revenue 2024: $11,245,366Expenses 2024: $6,538,091Net Income 2024: $4,707,2752024

Highlighted filing

2015

Revenue$4,303,694
Expenses$5,078,141
Net Income-$774,447
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 10, 2016
Return Version
2015v2.1
Gross Receipts
$5,689,372
Mission and Program Overview

Mission

Mission: The IEEE Foundation inspires the generosity of donors to enable IEEE programs that improve access to technology, enhance technological literacy, and support education and the IEEE professional community.

The philanthropic arm of IEEE, the IEEE Foundation strives to be a leader in transforming lives through the power of technology and education. Through donor (contd on SchO)

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$34,371,624$32,543,098▼ $1,828,526
Savings and Temporary Cash Investments$5,836,834$6,786,242▲ $949,408
Pledges and Grants Receivable$960,627$710,099▼ $250,528
Cash and Non-Interest-Bearing Accounts$118,736$268,419▲ $149,683
Accounts Receivable$375,455$154,908▼ $220,547
Investments Other Securities$267,355$85,805▼ $181,550
Prepaid Expenses and Deferred Charges$56,676$59,223▲ $2,547
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$45,209,843$43,770,226▼ $1,439,617
Other Assets Total$3,222,536$3,162,432▼ $60,104
Liabilities
Grants Payable$1,322,241$1,906,762▲ $584,521
Other Liabilities$427,500$395,242▼ $32,258
Accounts Payable and Accrued Expenses$125,982$250,349▲ $124,367
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,875,723$2,552,353▲ $676,630
Net Assets / Fund Balance
Temporarily Rstr Net Assets$25,134,783$24,399,506▼ $735,277
Unrestricted Net Assets$18,063,478$16,682,508▼ $1,380,970
Permanently Rstr Net Assets$135,859$135,859→ $0
Total Net Assets Fund Balance$43,334,120$41,217,873▼ $2,116,247
Total Liabilities and Net Assets / Fund Balance$45,209,843$43,770,226▼ $1,439,617

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$395,242--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$28,838,550$2,318,894▼ $273,034$235,625$28,021,588
2014$26,293,270$3,530,891▲ $1,306,353$206,941$28,838,550
2013$24,350,474$1,274,178▲ $2,965,139$211,356$26,293,270
2012$21,317,549$3,509,744▲ $1,841,763$207,614$24,350,474
2011$20,269,231$3,194,530▼ $170,802$164,593$21,317,549
Compensation and Service Providers

Board Members and Trustees

NameTitle
Leah H JamiesonPresident
Lyle D FeiselVice President Development
David G GreenVice President, Grants
Karen a GaluchieAsst Secretary & Ex Director
Eleanor BaumDirector at Large
H Vincent PoorDirector at Large
John ImpagliazzoDirector at Large
John R TreichlerDirector at Large
Roger FujiiDirector at Large
Victor B LawrenceDirector at Large
Wanda K RederDirector at Large
Jason ShapiroAssistant Treasurer
Thomas R SiegertAssistant Treasurer
Adrian V PaisSecretary
Pedro a RayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,359,592
Program Service Revenue
$0
Investment Income
$944,102
Other Revenue
$0
All Other Contributions
$2,430,899
Change in Net Assets
$-774,447

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded3$120,251
Total Noncash Contributions3$120,251

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,303,694
Revenue Not Reported on Form 990
$-212,700
Total Revenue per Audited Statements
$4,090,994
Total Revenue per Form 990
$4,303,694
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,291,225
Other Expenses$1,786,916
Total Fundraising Expense$38,212
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,506,178--$2,506,178
Grants to Domestic Individuals$496,820--$496,820
Travel$138,814$163,297-$302,111
Foreign Grants$288,227--$288,227
Office Expenses$85,548$20,198$38,212$143,958
Fees for Service Investment Mgmnt Fees-$108,130-$108,130
Other Expenses$5,643$-6,325-$-682
Total Functional Expenses$4,114,029$925,900$38,212$5,078,141

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,207,241
Expenses per Audited Statements$5,078,141
Total Expenses per Form 990$5,078,141
Expenses Not Reported on Form 990$1,129,100
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Institute of Electrical and Electronics EngineersPiscataway, NJ501(c)(3)Educational Grant$2,046,609
South Carolina Governor's School for Science & MatColumbia, SC501(c)(3)Engineering Program Activities Grants$30,000
ExploratoriumSan Francisco, CA501(c)(3)Engineering Program Activities Grants$27,897
Atomic Heritage FoundationWashington, DC501(c)(3)Engineering Program Activities Grants$25,000
WGBH Educational FoundationBoston, MA501(c)(3)Engineering Program Activities Grants$25,000
Computer History MuseumSanta Clara, CA501(c)(3)Engineering Program Activities Grants$22,500
Computer History MuseumSanta Clara, CA501(c)(3)Engineering Program Activities Grants$22,500
Smart Grid Consumer CollaborativeAtlanta, GA501(c)(3)Engineering Program Activities Grants$15,495
Drexel UniversityPhiladelphia, PA501(c)(3)Engineering Scholarship$15,000
University of California Santa Cruz FoundationCalifornia, CA501(c)(3)Engineering Achievement Award$15,000
Northeastern UniversityBoston, MA501(c)(3)Engineering Scholarship$13,000
Washington State UnivPullman, WA501(c)(3)Engineering Scholarship$13,000
Greater New Orleans STEM Initiative dba Core ElemeMetairie, LA501(c)(3)Engineering Program Activities Grants$12,296
North Carolina State UniversityRaleigh, NC501(c)(3)Engineering Scholarship$11,000
South Dakota State UniversityEast Capitol, SD501(c)(3)Engineering Scholarship$11,000
Board of Trustees of the University of IllinoisUrbana, IL501(c)(3)Engineering Scholarship$10,000
Georgia Institute of TechnologyFulton, GA501(c)(3)Engineering Program Activities Grants$10,000
Regents of the Univ of CA San DiegoLa Jolla, CA501(c)(3)Engineering Program Activities Grants$10,000
Worcester Polytechnic InstWorcester, MA501(c)(3)Engineering Scholarship$9,000
Univ of MarylandCollege Park, MD501(c)(3)Engineering Scholarship$8,000
Univ of North Carolina at CharlotteCharlotte, NC501(c)(3)Engineering Scholarship$8,000
Univ of Texas at AustinAustin, TX501(c)(3)Engineering Scholarship$8,000
University of WashingtonSeattle, WA501(c)(3)Engineering Scholarship$8,000
Schenectady Museum AssociationSchenectady, NY501(c)(3)Engineering Program Activities Grants$7,879
Purdue UniversityWest Lafayette, IN501(c)(3)Engineering Program Activities Grants$7,500
The University of Texas Foundation IncAustin, TX501(c)(3)Engineering Program Activities Grants$7,500
Appalachian State UniversityBoone, NC501(c)(3)Engineering Program Activities Grants$7,388
Appalachian State UniversityBoone, NC501(c)(3)Engineering Program Activities Grants$7,387
Board of Trustees of the University of IllinoisUrbana, IL501(c)(3)Engineering Scholarship$7,000
Ohio State UnivColumbus, OH501(c)(3)Engineering Scholarship$7,000
Univ of Wisconsin-MadisonMadison, WI501(c)(3)Engineering Scholarship$7,000
University of KentuckyLexington, KY501(c)(3)Engineering Scholarship$7,000
The University of Texas Pan American FoundationEdinburg, TX501(c)(3)Engineering Program Activities Grants$6,973
Boise State UniversityBoise, ID501(c)(3)Engineering Scholarship$6,000
Regents of the University of IdahoMoscow, ID501(c)(3)Engineering Scholarship$6,000
State University of New York College of EnvironmeSyracuse, NY501(c)(3)Engineering Program Activities Grants$6,000
Trustees of Boston UniversityBoston, MA501(c)(3)Engineering Scholarship$6,000
Univ of Nebraska-LincolnLancaster, NE501(c)(3)Engineering Scholarship$6,000
Univ of S FloridaTampa, FL501(c)(3)Engineering Scholarship$6,000
Univ of TennesseeKnoxville, TN501(c)(3)Engineering Scholarship$6,000
Univ of Texas at AustinAustin, TX501(c)(3)Engineering Scholarship$6,000
University of PittsburghPittsburgh, PA501(c)(3)Engineering Scholarship$6,000
American Inst of Chemical EngineersNew York, NY501(c)(3)Engineering Scholarship$5,700

International Summary

Spending
$369,220

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
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Grantmaking---$176,666
East Asia and the PacificGrantmaking---$70,300
North AmericaGrantmaking---$40,137
Middle East and North AfricaGrantmaking---$32,964
South AmericaGrantmaking---$30,801
Sub-Saharan AfricaGrantmaking---$10,307
South AsiaGrantmaking---$6,545
Central America and the CaribbeanGrantmaking---$1,500
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charles Fortescue Trust, Held for Others$395,242
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
No
Other officer compensation reviewed
No
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

IEEE Foundation's Executive Director, President, Treasurer and Assistant Treasurer review the current year's Form 990 with the Company's tax preparers. The remaining Board of Directors are sent a copy of the Form 990 before it is signed and filed for any questions they may have related to its preparation and final submission to the IRS

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

The IEEE Foundation's Operational Manual "Conflict of Interest" disclosure form is required to be completed by IEEE Foundation Board Members and Committees of the Board on an annual basis and submitted to the IEEE Operations Center. The "Conflict of Interest" responses from the disclosure forms is reviewed first by the IEEE Internal Audit Department and should a potential conflict of interest exist, it shall be made known immediately to the person in charge of the activity(or the next higher authority if the affected individual is in charge) who, after consultation with the President and the other individuals in the activity, will advise the affected individual of the proper course of action and cause a notation of the action to be entered in the activity's record.

Form 990, Part VI, Section C, Line 19

IEEE Foundation's governing documents , conflict of interest policy and audited financial statements are available to the public on IEEE Foundation's website.

Form 990, Part VII, Section A, Line 1A

Average hours per week for related organizations : The Institute of Electrical and Electronics Engineers Inc. Thomas Siegert, Asst. Treasurer, 40 hours per week; Jason Shapiro Asst Treasurer, 40 hours per week

Filing and Contact Details

Filer

Filer Name
Ieee Foundation Inc
EIN
23-7310664
In Care Of
% IEEE CONTROLLERS OFFICE
Phone
7329810060
Address
445 HOES LANE, PISCATAWAY, NJ 08854

Signing Officer

Name
Thomas Siegert
Title
Assistant Treasurer
Phone
7325626843
Signed
2016-04-10

Organization Details

Principal Officer
Karen a Galuchie
Formed
1973
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
865
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 Activity or Mission

support, IEEE Foundation provided more than US$4 million to enable IEEE programs that deliver technology and cultivate knowledge wherever there is need and the potential to improve lives.

Form 990,PartIII Line 4D Other Program Service Accomplishments

Form 990 Part III Line 4d IEEE Life Members Fund (LMF): provides funding to numerous programs which are of interest to IEEE Life Members and future Life Members and reflect the breadth and range of the engineering field. The LMF aims to make a significant, global impact on the engineering profession and raise awareness and understanding of the engineering field within the general public. In 2015, LMF supported numerous worthy programs, conducted all around the world, and awarded numerous scholarships, internships and fellowships, and invested in three innovative projects through the Grants Program in collaboration with the IEEE Foundation. ($327,892) IEEE History Center Fund: supports the IEEE History Centers rich portfolio of programs designed to achieve its mission to record, archive and educate the public about the nature of technology and its relationship, both past and present, to society. Through its programs, the Center promotes the rich history of technology, records and shares the memories of hundreds of technological icons, honors technological achievements through the IEEE Milestones in Electrical Engineering and Computing, and preserves the institutional history of IEEE. Its vast array of resources is delivered to the public through the IEEE Engineering and Technology History Wiki, ethw.org, a Wiki-based Web site. In 2015, the Center posted 165 Oral Histories and 29 first-hand stories sharing the history of related technologies, and dedicated its 160th Milestone to recognize and celebrate electrical engineering and computing accomplishments that changed our world. The Center also released its fourth book of the History Center Press series. ($228,254) Other IEEE Foundation Funds: There are more than 150 funds supporting the educational and scientific purposes of the IEEE by empowering the next generation of innovators through the awarding of scholarships, fellowships and educational grants, celebrating technological innovation through a rich portfolio of awards, and investing in IEEE initiatives. ($1,492,068)

Financial Statement Notes

Schedule D, Part V, Line 4

IEEE Foundation awards grants to new and innovative projects and administers more than 150 donor designated funds that support a variety of educational, humanitarian, historical preservation and peer recognition programs of IEEE.

Schedule D, Part X, Line 2

The Foundation is qualified under Section 501(c)(3) of the Internal Revenue Code (IRC) as an organization exempt from federal income tax and applicable state income tax and is classified as other than a private foundation under Section 509(a)(1) of the IRC. Nevertheless, the Foundation may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The tax year ending December 31, 2012, 2013, 2014 and 2015 are still open to audit for both federal and state purposes. As of December 31, 2015, management has determined there are no uncertain tax positions that would require recognition or disclosure in the financial statements.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$84.7$2.62$82.1$11.2$6.54$4.71
2023Detailed filing. Detailed filing data is available for this year.$76.5$2.34$74.2$10.0$6.89$3.14
2022Detailed filing. Detailed filing data is available for this year.$68.6$2.20$66.4$9.55$5.69$3.86
2021Detailed filing. Detailed filing data is available for this year.$72.4$1.31$71.1$9.05$4.07$4.98
2020Detailed filing. Detailed filing data is available for this year.$61.9$1.47$60.4$6.41$4.41$2.00
2019Detailed filing. Detailed filing data is available for this year.$56.3$2.58$53.7$7.61$5.71$1.90
2018Detailed filing. Detailed filing data is available for this year.$49.5$2.97$46.6$7.08$6.88$0.20
2016Detailed filing. Detailed filing data is available for this year.$46.3$2.31$44.0$6.25$4.93$1.32
2015Detailed filing. Detailed filing data is available for this year.$43.8$2.55$41.2$4.30$5.08$0.77
2014Detailed filing. Detailed filing data is available for this year.$45.2$1.88$43.3$5.50$4.76$0.74
2013Detailed filing. Detailed filing data is available for this year.$42.6$1.38$41.2$5.74$4.22$1.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.0$1.67$35.3$4.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.6$1.72$31.9$4.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.7$1.31$31.4$2.99