Civic Intelligence

Ieee Foundation Inc.

990 • Fiscal year 2024 • EIN 23-7310664

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 11, 2025

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

20th percentile

0.03x

Higher debt load relative to assets than 20% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

27th percentile

0.23x

Higher debt load relative to revenue than 27% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Net Margin

89th percentile

42%

Higher net margin than 89% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

90th percentile

$645,710

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Asset Growth

77th percentile

11%

Faster asset growth than 77% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

12%

Faster revenue growth than 67% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$84,710,583

Up $8,175,604 (+11%) from 2023

Net Assets

Up

$82,092,053

Up $7,894,371 (+11%) from 2023

Liabilities

Up

$2,618,530

Up $281,233 (+12%) from 2023

Revenue

Up

$11,245,366

Up $1,217,261 (+12%) from 2023

Expenses

Down

$6,538,091

Down $348,794 (-5.1%) from 2023

Net Income

Up

$4,707,275

Up $1,566,055 (+50%) from 2023

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

2024

Assets$84,710,583
Liabilities$2,618,530
Net Assets$82,092,053

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

2024

Revenue$11,245,366
Expenses$6,538,091
Net Income$4,707,275
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 11, 2025
Return Version
2024v5.1
Gross Receipts
$11,312,035
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 IEEE Foundation is the heart of IEEE charitable giving and philanthropy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$49,260,513$54,959,842▲ $5,699,329
Savings and Temporary Cash Investments$15,461,592$11,972,092▼ $3,489,500
Cash and Non-Interest-Bearing Accounts$2,327,935$8,440,091▲ $6,112,156
Pledges and Grants Receivable$3,249,439$3,182,174▼ $67,265
Investments Other Securities$1,654,046$1,726,882▲ $72,836
Accounts Receivable$157,076$150,123▼ $6,953
Prepaid Expenses and Deferred Charges$113,739$134,922▲ $21,183
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related$0--
Land, Buildings, and Equipment, Net-$0-
Loans From Officers Directors-$0-
Total Assets$76,534,979$84,710,583▲ $8,175,604
Other Assets Total$4,310,639$4,144,457▼ $166,182
Liabilities
Grants Payable$1,579,131$2,022,598▲ $443,467
Accounts Payable and Accrued Expenses$372,700$595,932▲ $223,232
Other Liabilities$385,466$0▼ $385,466
Total Liabilities$2,337,297$2,618,530▲ $281,233
Net Assets / Fund Balance
Net Assets With Donor Restrictions$55,120,105$62,130,468▲ $7,010,363
Net Assets Without Donor Restrictions$19,077,577$19,961,585▲ $884,008
Total Net Assets Fund Balance$74,197,682$82,092,053▲ $7,894,371
Total Liabilities and Net Assets / Fund Balance$76,534,979$84,710,583▲ $8,175,604

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$59,984,321$7,340,072▲ $3,970,709$153,534$67,181,806
2023$53,335,843$6,862,313▲ $4,519,947$263,481$59,984,321
2022$56,225,155$5,821,682▼ $4,659,129$176,476$53,335,843
2021$47,484,897$6,601,459▲ $4,846,377$113,527$56,225,155
2020$41,972,506$4,570,915▲ $4,105,536$113,872$47,484,897
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ralph FordPresident
John D McDonaldVice President, Development
Jerry L HudginsVice President, Programs
Alex AceroDirector-at-Large
Howard MichelDirector-at-Large
Karen PanettaDirector-at-Large
Lorena GarciaDirector-at-Large
Mary Ellen ZellerbachDirector-at-Large
Nim CheungDirector-at-Large
Sarah A RajalaDirector-at-Large
Sarah SpurgeonDirector-at-Large
Stephen PhillipsDirector-at-Large
Tomy SebastianDirector-at-Large
Anthony PataneAssistant Treasurer
Thomas R SiegertAssistant Treasurer
Karen a GaluchieAsst Secretary & Exec Dire
Marko DelimarSecretary
Christopher GeigerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$8,819,394
Program Service Revenue
$0
Investment Income
$2,425,972
Other Revenue
$0
All Other Contributions
$5,463,501
Change in Net Assets
$4,707,275

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded10$66,669Market value
Total Noncash Contributions10$66,669-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,160,398
Revenue Not Reported on Financial Statements
$84,968
Revenue Not Reported on Form 990
$5,089,945
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$16,250,343
Total Revenue per Form 990
$11,245,366
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,642,444
Other Expenses$1,870,419
Total Fundraising Expense$116,225
Professional Fundraising Fees$25,228
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,633,810--$3,633,810
Fees for Services Other$354,234$758,087$0$1,112,321
Grants to Domestic Individuals$630,036--$630,036
Foreign Grants$378,598--$378,598
Office Expenses$185,713$84,253-$269,966
Travel$85,621$117,049-$202,670
Advertising--$90,997$90,997
Fees for Service Investment Mgmnt Fees-$84,988-$84,988
Occupancy$17,334$37,097-$54,431
Fees for Services Accounting-$46,000-$46,000
Fees for Services Professional Fundraising--$25,228$25,228
Insurance-$9,046-$9,046
Total Functional Expenses$5,285,346$1,136,520$116,225$6,538,091

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,355,972
Total Expenses per Form 990$6,538,091
Expenses per Audited Statements$6,453,123
Expenses Not Reported on Form 990$1,902,849
Expenses Not Reported on Financial Statements$84,968
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Institute of Electrical and Electronics Engineers IncPiscataway, NJ501(c)(3)Educational Grant$3,340,689
Purdue UniversityWest Lafayette, IN501(c)(3)Educational Grant$59,422
University of Texas at DallasRichardson, TX501(c)(3)Educational Grant$31,000
Arizona State UniversityTempe, AZ501(c)(3)Educational Grant$18,000
University of Central FloridaOrlando, FL501(c)(3)Educational Grant$16,000
Washington State UniversityPullman, WA501(c)(3)Educational Grant$14,500
University of MissouriColumbia, MO501(c)(3)Educational Grant$14,000
University of PittsburghPittsburgh, PA501(c)(3)Educational Grant$13,000
University of KentuckyLexington, KY501(c)(3)Educational Grant$12,500
South Dakota St UniversityBrookings, SD501(c)(3)Educational Grant$12,000
University of North DakotaGrand Forks, ND501(c)(3)Educational Grant$10,000
Polytechnic University of Puerto RicoSan Juan, PR501(c)(3)Educational Grant$8,000
Rowan UniversityGlassboro, NJ501(c)(3)Educational Grant$8,000
University of FloridaGainesville, FL501(c)(3)Educational Grant$8,000
University of Texas at El PasoEl Paso, TX501(c)(3)Educational Grant$8,000
University of DaytonDayton, OH501(c)(3)Educational Grant$7,000
Georgia Institute of TechnologyAtlanta, GA501(c)(3)Educational Grant$6,000
University of ConnecticutStorrs, CT501(c)(3)Educational Grant$6,000
University of St ThomasSt Paul, MN501(c)(3)Educational Grant$6,000
President and Fellows of Harvard CollegeBoston, MA501(c)(3)Educational Grant$5,000
University of WisconsinMadison, WI501(c)(3)Educational Grant$5,000

International Summary

Offices
0
Employees
0
Spending
$378,598

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-00$135,671
East Asia and the PacificGrantmaking-00$129,315
North America (Canada & Mexico only)Grantmaking-00$56,000
Middle East and North AfricaGrantmaking-00$24,000
Sub-Saharan AfricaGrantmaking-00$21,000
South AmericaGrantmaking-00$14,900
South AsiaGrantmaking-00$-2,288
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$25,228
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-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes-
Charles Fortescue Trust-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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, Line 11B Review of form 990 by governing body

IEEE Foundation's Executive Director, President, Treasurer, and Assistant Treasurer, review the current year's Form 990 with the IEEE Tax Department. The remaining Board of Directors are provided 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, Line 12C Conflict of interest policy

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 are 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, Line 19 Required documents available to the public

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

Filing and Contact Details

Filer

Filer Name
Ieee Foundation Inc
EIN
23-7310664
Phone
7329810060
Address
445 HOES LANE, PISCATAWAY, NJ 08854

Signing Officer

Name
Kelly Armstrong
Title
Assistant Treasurer
Phone
7329810060
Signed
2025-11-11

Organization Details

Formed
1973
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
1,250
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 342,872 including grants of $ 336,860) ENGAGE: Engaging a wider audience in appreciating the value and importance of engineering and technology through the work of the IEEE History Center to record, archive, and educate the public about the nature of technology and its relationship, both past and present, to society as well as the Life Members Fund, which supports new and exciting opportunities for young engineers and to keep Life Members active.

Form 990, Part III, Line 4A-4C Description of program services

(Expenses $ 1,000 including grants of $ 1,000) FUTURE: Looking beyond our lifetime to share the destiny of future generations, by ensuring future generations have sufficient and appropriate educational and inspirational programs and services to lay the foundation now. Programs include IEEE WIE and the IEEE Foundation Fund.

Form 990, Part IX, Line 11G Other Fees

IEEE Professional Staff Services - Total Expense: 1112321, Program Service Expense: 354234, Management and General Expenses: 758087, Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN TRUST - 219285; CHARLES LEGEYT FORTESCUE GRADUATE SCHOLARSHIP FUND EXCISE TAX - -245; Total - 219040;

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

IEEE Foundation awards grants to new and innovative projects and administers more than 275 donor designated funds that support a variety of educational, humanitarian, historical preservation, and peer recognition programs of IEEE.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

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. As of December 31, 2024, and 2023, management has determined that there are no uncertain tax positions that would require recognition or disclosure in the financial statements.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Change in fair value of beneficial interest in trust - 219285 Contribution Reclass - 1000

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Contribution Reclass - 1000 CHARLES LEGEYT FORTESCUE GRADUATE SCHOLARSHIP FUND EXCISE TAX - 245

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IRS990/Form990PartVIISectionAGrp/PersonNm1Jerry L Hudgins
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATE: Educating the next generation of innovators and engineers by nourishing students through academic opportunities: scholarships, fellowships, travel grants, mentoring, and introducing pre-university students to STEM and the history of technology with classroom curriculum, hands-on experiences, and interactive workshops. Programs include the IEEE PES Scholarship PLUS Initiative, IEEE REACH, TryEngineering, and Science Kits for Public Libraries.
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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