Civic Intelligence

Renaissance Charitable Foundation Inc.

990 • Fiscal year 2023 • EIN 35-2129262

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 05, 2024

Organization Profilewww.renaissancecharitable.org
8888 Keystone Crossing Suite 1222Indianapolis, IN 46240

(866) 803-0389

Siviq Scores

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

Liabilities / Assets

7th percentile

0.01x

Higher debt load relative to assets than 7% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Liabilities / Revenue

6th percentile

0.02x

Higher debt load relative to revenue than 6% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Net Margin

95th percentile

59%

Higher net margin than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Top Officer Pay

3rd percentile

$0

Higher top officer pay than 3% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Asset Growth

97th percentile

36%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

48%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$4,181,391,517

Up $1,098,872,542 (+36%) from 2022

Net Assets

Up

$4,145,669,166

Up $1,076,276,586 (+35%) from 2022

Liabilities

Up

$35,722,351

Up $22,595,956 (+172%) from 2022

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin95th percentile

Revenue

Up

$1,459,759,410

Up $472,791,466 (+48%) from 2022

Expenses

Up

$592,804,586

Up $122,029,937 (+26%) from 2022

Net Income

Up

$866,954,824

Up $350,761,529 (+68%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$6.0B$4.0B$2.0B$0Assets 2017: $1,455,988,647Liabilities 2017: $5,345,887Net Assets 2017: $1,450,642,7602017Assets 2018: $1,494,572,247Liabilities 2018: $24,730,925Net Assets 2018: $1,469,841,3222018Assets 2019: $1,623,200,404Liabilities 2019: $15,623,737Net Assets 2019: $1,607,576,6672019Assets 2020: $1,807,537,083Liabilities 2020: $10,470,252Net Assets 2020: $1,797,066,8312020Assets 2021: $3,073,056,178Liabilities 2021: $11,854,751Net Assets 2021: $3,061,201,4272021Assets 2022: $3,082,518,975Liabilities 2022: $13,126,395Net Assets 2022: $3,069,392,5802022Assets 2023: $4,181,391,517Liabilities 2023: $35,722,351Net Assets 2023: $4,145,669,1662023Assets 2024: $5,913,566,776Liabilities 2024: $16,914,399Net Assets 2024: $5,896,652,3772024

Highlighted filing

2023

Assets$4,181,391,517
Liabilities$35,722,351
Net Assets$4,145,669,166
Open 2023 Filing

Operations Trend

Revenue Growth95th percentile

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

$3.0B$2.0B$1.0B$0-$1.0BRevenue 2017: $489,266,633Expenses 2017: $215,745,873Net Income 2017: $273,520,7602017Revenue 2018: $474,554,621Expenses 2018: $336,577,330Net Income 2018: $137,977,2912018Revenue 2019: $456,469,570Expenses 2019: $490,357,189Net Income 2019: -$33,887,6192019Revenue 2020: $542,838,666Expenses 2020: $404,582,618Net Income 2020: $138,256,0482020Revenue 2021: $1,643,145,757Expenses 2021: $434,967,952Net Income 2021: $1,208,177,8052021Revenue 2022: $986,967,944Expenses 2022: $470,774,649Net Income 2022: $516,193,2952022Revenue 2023: $1,459,759,410Expenses 2023: $592,804,586Net Income 2023: $866,954,8242023Revenue 2024: $2,436,033,430Expenses 2024: $801,921,038Net Income 2024: $1,634,112,3922024

Highlighted filing

2023

Revenue$1,459,759,410
Expenses$592,804,586
Net Income$866,954,824
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 5, 2024
Return Version
2023v5.1
Gross Receipts
$2,707,250,698
Mission and Program Overview

Mission

Renaissance Charitable Foundation Inc. is a public benefit corporation that operates exclusively to conduct, support, encourage and assist religious, charitable, educational and other programs.

RCF is a public benefit corporation that operates exclusively to conduct, support, encourage, and assist religious, charitable, educational, and other programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,460,287,960$3,240,814,775▲ $780,526,815
Investments Other Securities$205,999,029$507,536,464▲ $301,537,435
Savings and Temporary Cash Investments$388,520,909$401,752,107▲ $13,231,198
Cash and Non-Interest-Bearing Accounts$23,400,062$25,367,639▲ $1,967,577
Pledges and Grants Receivable$2,884,749$3,251,393▲ $366,644
Accounts Receivable$0$0→ $0
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$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$3,082,518,975$4,181,391,517▲ $1,098,872,542
Other Assets Total$1,426,266$2,669,139▲ $1,242,873
Liabilities
Grants Payable$10,395,884$32,581,390▲ $22,185,506
Accounts Payable and Accrued Expenses$1,980,511$2,410,961▲ $430,450
Other Liabilities$750,000$730,000▼ $20,000
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$13,126,395$35,722,351▲ $22,595,956
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,067,966,314$4,143,000,027▲ $1,075,033,713
Net Assets With Donor Restrictions$1,426,266$2,669,139▲ $1,242,873
Total Net Assets Fund Balance$3,069,392,580$4,145,669,166▲ $1,076,276,586
Total Liabilities and Net Assets / Fund Balance$3,082,518,975$4,181,391,517▲ $1,098,872,542

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$507,536,464--
Compensation and Service Providers
Top Officer Pay3rd percentile

Board Members and Trustees

NameTitle
Gregory W BakerPresident & Chairman
Douglas W CoxSecretary & Vice-President
Daniel H O'ConnellDirector
Jill H RobischDirector
Steven R KoDirector
Andy BartonTreasurer & Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Renaissance Administration LLCAdministration8888 Keystone Crossing Suite 1200, Indianapolis, IN 46240$15,543,682
Revenue and Support

Revenue Composition

Contributions and Grants
$1,348,055,424
Program Service Revenue
$0
Investment Income
$94,276,953
Other Revenue
$17,427,033
All Other Contributions
$1,348,026,294
Change in Net Assets
$866,954,824

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 Traded13,913$450,319,881High-Low
Secur Prtnrshp Trust Intrsts52$176,610,165Appraisal
Securities Closely Held Stock20$46,783,935Appraisal
Securities Miscellaneous14$1,466,576High-Low
Other Non Cash Contri Table3$544,009Face value
Total Noncash Contributions14,002$675,724,566-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,451,464,725
Revenue Not Reported on Financial Statements
$8,294,685
Revenue Not Reported on Form 990
$209,321,762
Total Revenue per Audited Statements
$1,660,786,487
Total Revenue per Form 990
$1,459,759,410
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$568,691,836
Other Expenses$24,112,750
Total Fundraising Expense$10,204
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$568,686,586--$568,686,586
Fees for Services Other$0$15,667,168$0$15,667,168
Fees for Service Investment Mgmnt Fees-$8,294,685-$8,294,685
Insurance-$140,205-$140,205
Advertising--$10,204$10,204
Foreign Grants$5,250--$5,250
Other Expenses$0$488$0$488
Total Functional Expenses$568,691,836$24,102,546$10,204$592,804,586

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$592,804,586
Expenses per Audited Statements$584,509,901
Total Expenses per Audited Statements$584,509,901
Expenses Not Reported on Financial Statements$8,294,685
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See Attached Grant ReportSee Attached Grant Rpt, IN-Charitable$552,634,593

International Summary

Offices
0
Employees
0
Spending
$5,250

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
North AmericaGrantmaking-00$5,250
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Renaissance Administration LLCAn officer of RCF is also an officer of Renaissance Administration LLCAdministration servicesNo$15,543,682

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
Commercial Annuities Payable$730,000
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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
Yes

Governance Explanations

Part VI

“Line 2: One current officer of the Foundation is also an officer of Renaissance Administration LLC (Ren). All business transactions between the Foundation and Ren are subject to the Foundation's governing documents, including the conflict of interest policy. Line 3: The organization outsources management and administrative services to Renaissance Administration LLC (Ren). Ren maintains the books and records, prepares tax returns and other required regulatory filings, and provides staff, resources, and professional expertise to carry out its administrative responsibilities for the organization. Line 11b: The Form 990 is reviewed by the President of the Foundation before it is filed. The President is an attorney with extensive knowledge of the rules and regulations governing charitable organizations. The Form 990 is presented to the Foundation's full Board of Directors after it has been filed. Line 12c: The Foundation's written conflicts of interest policy has been part of the Foundation's bylaws since inception. The Foundation's Board monitors and enforces the Foundation's conflicts of interest policy. A Foundation director; any entity in which a director has a material interest; or an entity of which a Foundation director is a director, officer or trustee is subject to the Foundation's conflicts of interest policy. Conflicts are identified, reported, and described at the transaction level in the Board's written minutes for any meeting in which they are discussed. For each conflict transaction, the material facts of the transaction and the director's interest must be disclosed to the Board. A conflicted director may not vote to authorize, approve or ratify a conflict transaction. The Board must determine that the conflict transaction is fair and reasonable to the Foundation. Once this determination is made, a majority of the non-conflicted directors must vote to authorize, approve or ratify the conflict transaction. Line 15a: The Chairman of the Board and the President of the Foundation approve any compensation for officers based on the officer's experience and comparable compensation for similar positions at similar institutions. During the Year ended December 31, 2023 the Foundation neither paid compensation to any officer nor reviewed any officer compensation agreements. Line 19: The Foundation's governing documents, tax returns, conflicts of interest policy and audited financial statements are available at the Foundation's headquarters, on the Foundation's website, and to the general public upon request.”

Filing and Contact Details

Filer

Filer Name
Renaissance Charitable Foundation Inc
EIN
35-2129262
In Care Of
% ALYSSA RYSDEK
Phone
8668030389
Address
8888 Keystone Crossing Suite 1222, Indianapolis, IN 46240

Signing Officer

Name
Gregory W Baker
Title
President
Phone
8668030389
Signed
2024-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory W Baker
Formed
2000
Legal Domicile
In
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Renaissance Administration LLC
Address
8888 Keystone Crossing Suite 1200, INDIANAPOLIS, IN 46240
Preparer
Joseph R Gianforte
Phone
8008430050
Supplemental Narrative

Financial Statement Notes

Schedule D Part X Line 2

“The Foundation is organized as a not-for-profit corporation under Section 501(c)(3) of the IRC. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Foundation and recognize a tax liability if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the Foundation, and has concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. As such, the Foundation is generally exempt from income taxes. However, the Foundation is required to file Federal Form 990 - Return of Organization Exempt from Income Tax which is an informational return only. With the exception of Renaissance Charitable Supporting Organization Trust (RST), the activities of the Renaissance Special Gift Foundation LLC subsidiaries are combined with the activities of the Foundation for tax purposes. RST files a separate return that is not consolidated with the Foundation and other supporting entities.”

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IRS990/PrincipalOfficerNm0Gregory W Baker
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation is organized as a not-for-profit corporation under Section 501(c)(3) of the IRC. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Foundation and recognize a tax liability if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the Foundation, and has concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. As such, the Foundation is generally exempt from income taxes. However, the Foundation is required to file Federal Form 990 - Return of Organization Exempt from Income Tax which is an informational return only. With the exception of Renaissance Charitable Supporting Organization Trust (RST), the activities of the Renaissance Special Gift Foundation LLC subsidiaries are combined with the activities of the Foundation for tax purposes. RST files a separate return that is not consolidated with the Foundation and other supporting entities.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,181,391,517
Liabilities
$35,722,351
Net assets
$4,145,669,166
Revenue
$1,459,759,410
Expenses
$592,804,586
Net income
$866,954,824
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5,914$16.9$5,897$2,436$802$1,634
2023Detailed filing. Detailed filing data is available for this year.$4,181$35.7$4,146$1,460$593$867
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3,083$13.1$3,069$987$471$516
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,073$11.9$3,061$1,643$435$1,208
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,808$10.5$1,797$543$405$138
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,623$15.6$1,608$456$490$33.9
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,495$24.7$1,470$475$337$138
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,456$5.35$1,451$489$216$274