Civic Intelligence

Real Clear Foundation

990 • Fiscal year 2024 • EIN 52-2128875

Apr 01, 2023 to Mar 31, 2024 • Filed on Feb 12, 2025

666 Dundee Road 600Northbrook, IL 60062

(773) 545-9090

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.18x

Higher debt load relative to assets than 52% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

34th percentile

0.12x

Higher debt load relative to revenue than 34% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

84th percentile

35%

Higher net margin than 84% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$178,500

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

97th percentile

110%

Faster asset growth than 97% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

87th percentile

59%

Faster revenue growth than 87% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,912,529

Up $4,670,476 (+110%) from 2023

Net Assets

Up

$7,269,996

Up $4,737,021 (+187%) from 2023

Liabilities

Down

$1,642,533

Down $66,545 (-3.9%) from 2023

Revenue

Up

$13,493,125

Up $5,016,676 (+59%) from 2023

Expenses

Down

$8,756,104

Down $398,572 (-4.4%) from 2023

Net Income

Up

$4,737,021

Up $5,415,248 (+798%) from 2023

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2010: $2,688Liabilities 2010: $02010Assets 2011: $2,545Liabilities 2011: $0Net Assets 2011: $2,5452011Assets 2012: $1,913Liabilities 2012: $0Net Assets 2012: $1,9132012Assets 2013: $1Liabilities 2013: $02013Assets 2014: $1Liabilities 2014: $02014Assets 2019: $2,300,673Liabilities 2019: $13,782Net Assets 2019: $2,286,8912019Assets 2020: $3,638,852Liabilities 2020: $2,525Net Assets 2020: $3,636,3272020Assets 2021: $6,694,887Liabilities 2021: $1,834,469Net Assets 2021: $4,860,4182021Assets 2022: $4,984,484Liabilities 2022: $1,775,450Net Assets 2022: $3,209,0342022Assets 2023: $4,242,053Liabilities 2023: $1,709,078Net Assets 2023: $2,532,9752023Assets 2024: $8,912,529Liabilities 2024: $1,642,533Net Assets 2024: $7,269,9962024Assets 2025: $6,429,602Liabilities 2025: $1,895,542Net Assets 2025: $4,534,0602025

Highlighted filing

2024

Assets$8,912,529
Liabilities$1,642,533
Net Assets$7,269,996

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2010: $100,014Expenses 2010: $202,966Net Income 2010: -$102,9522010Expenses 2011: $1482011Expenses 2012: $6452012Revenue 2013: $50,000Expenses 2013: $50,000Net Income 2013: $02013Revenue 2014: $1Expenses 2014: $0Net Income 2014: $12014Revenue 2019: $3,250,000Expenses 2019: $1,836,205Net Income 2019: $1,413,7952019Revenue 2020: $3,756,043Expenses 2020: $2,406,607Net Income 2020: $1,349,4362020Revenue 2021: $5,318,894Expenses 2021: $4,094,803Net Income 2021: $1,224,0912021Revenue 2022: $3,614,001Expenses 2022: $5,265,385Net Income 2022: -$1,651,3842022Revenue 2023: $8,476,449Expenses 2023: $9,154,676Net Income 2023: -$678,2272023Revenue 2024: $13,493,125Expenses 2024: $8,756,104Net Income 2024: $4,737,0212024Revenue 2025: $7,433,300Expenses 2025: $10,396,766Net Income 2025: -$2,963,4662025

Highlighted filing

2024

Revenue$13,493,125
Expenses$8,756,104
Net Income$4,737,021
Jump To
Filing Snapshot
Filing Period
Apr 1, 2023 to Mar 31, 2024
Signed
Feb 12, 2025
Return Version
2023v6.0
Gross Receipts
$13,655,424
Mission and Program Overview

Mission

The foundation's mission is to underwrite news aggregation and content which promotes responsible journalism and educational programs for public interest.

SEE PAGE 2.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,670,994$5,389,621▲ $3,718,627
Land, Buildings, and Equipment, Net$2,512,707$2,439,650▼ $73,057
Savings and Temporary Cash Investments-$1,040,586-
Other Notes and Loans Receivable, Net$46,699$34,699▼ $12,000
Intangible Assets$11,653$7,973▼ $3,680
Total Assets$4,242,053$8,912,529▲ $4,670,476
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,703,838$1,637,338▼ $66,500
Accounts Payable and Accrued Expenses$5,240$5,195▼ $45
Total Liabilities$1,709,078$1,642,533▼ $66,545
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,825,434$5,305,966▲ $3,480,532
Net Assets With Donor Restrictions$707,541$1,964,030▲ $1,256,489
Total Net Assets Fund Balance$2,532,975$7,269,996▲ $4,737,021
Total Liabilities and Net Assets / Fund Balance$4,242,053$8,912,529▲ $4,670,476

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,982,004$155,272-
Other Land Buildings$220,171$51,126-
Land$237,475--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
David DesrosiersPresidentFT$178,500$178,500
John McintyreTreasurerPT$90,000$90,000

Board Members and Trustees

NameTitle
Andrew WalworthDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$13,303,841
Program Service Revenue
$0
Investment Income
$47,083
Other Revenue
$142,201
All Other Contributions
$13,303,841
Change in Net Assets
$4,737,021
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,687,258
Salaries, Compensation, and Employee Benefits$2,886,664
Other Expenses$2,182,182
Total Fundraising Expense$556,687
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,687,258--$3,687,258
Other Salaries and Wages$1,604,919$392,264$256,369$2,253,552
Fees for Services Other$1,031,787$229,267$52,355$1,313,409
Information Technology$310,610$3,576$62,327$376,513
Current Officers, Directors, Trustees, and Key Employees-$179,000$89,500$268,500
Other Employee Benefits$114,868$47,968$21,273$184,109
Payroll Taxes$126,181$30,740$23,582$180,503
Conferences and Meetings$16,956$2,454$51,281$70,691
Occupancy-$26,316-$26,316
Office Expenses-$18,126-$18,126
Insurance$5,092$12,465-$17,557
Other Expenses-$7,973-$7,973
Total Functional Expenses$6,897,671$1,301,746$556,687$8,756,104
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Real Clear Holdings LLCNorthbrook, IL501(c)(3)To Support Responsible Journalism With the Interest of Educating the Public.$1,832,258
Palladium Pictures LLCChevy Chase, MD-To Support Responsible Journalism With the Interest of Educating the Public.$1,365,000
Donors Trust IncAlexandria, VA501(c)(3)To Support Responsible Journalism With the Interest of Educating the Public.$450,000
Real Clear Media FundNorthbrook, IL-To Support Responsible Journalism With the Interest of Educating the Public.$40,000
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
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
No
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

Each member of the board and independent legal counsel reviews form 990 before it is filed.

Form 990, Part VI, Section C, Line 19

The organization makes this information available upon request.

Filing and Contact Details

Filer

Filer Name
Real Clear Foundation
EIN
52-2128875
Phone
7735459090
Address
666 DUNDEE ROAD 600, NORTHBROOK, IL 60062

Signing Officer

Name
David Desrosiers
Title
President
Phone
6465283083
Signed
2025-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Desrosiers
Formed
1998
Legal Domicile
Wy
Voting Board Members
3
Independent Board Members
1
Employees
1
Volunteers
0

Preparer

Firm
Leaf Dahl and Company Ltd
Address
666 DUNDEE ROAD BUILDING 600, NORTHBROOK, IL 60062
Preparer
Jeffrey N Dahl CPA
Phone
7735459090
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting, legal and accounting fees: program service expenses 84462. Management and general expenses 229267. Fundraising expenses 52355. Total expenses 366084. Professional fees for news content: program service expenses 947325. Management and general expenses 0. Fundraising expenses 0. Total expenses 947325.

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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT RESPONSIBLE JOURNALISM WITH THE INTEREST OF EDUCATING THE PUBLIC.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO SUPPORT RESPONSIBLE JOURNALISM WITH THE INTEREST OF EDUCATING THE PUBLIC.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TO SUPPORT RESPONSIBLE JOURNALISM WITH THE INTEREST OF EDUCATING THE PUBLIC.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3TO SUPPORT RESPONSIBLE JOURNALISM WITH THE INTEREST OF EDUCATING THE PUBLIC.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DONORS TRUST INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1REAL CLEAR HOLDINGS LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2REAL CLEAR MEDIA FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3PALLADIUM PICTURES LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0131837418
IRS990ScheduleI/RecipientTable/RecipientEIN1261298934
IRS990ScheduleI/RecipientTable/RecipientEIN2201382746
IRS990ScheduleI/RecipientTable/RecipientEIN3883565893
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01800 DIAGONAL ST 280
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1666 DUNDEE RD 600
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2666 DUNDEE RD 600
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt35508 SURREY ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ALEXANDRIA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1NORTHBROOK
IRS990ScheduleI/RecipientTable/USAddress/CityNm2NORTHBROOK
IRS990ScheduleI/RecipientTable/USAddress/CityNm3CHEVY CHASE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1IL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2IL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3MD
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd022314
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd160062
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd260062
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd320815
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0178500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DAVID DESROSIERS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0178500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH MEMBER OF THE BOARD AND INDEPENDENT LEGAL COUNSEL REVIEWS FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES THIS INFORMATION AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONSULTING, LEGAL AND ACCOUNTING FEES: PROGRAM SERVICE EXPENSES 84462. MANAGEMENT AND GENERAL EXPENSES 229267. FUNDRAISING EXPENSES 52355. TOTAL EXPENSES 366084. PROFESSIONAL FEES FOR NEWS CONTENT: PROGRAM SERVICE EXPENSES 947325. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 947325.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0WY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04242053
IRS990/TotalAssetsEOYAmt08912529
IRS990/TotalAssetsGrp/BOYAmt04242053
IRS990/TotalAssetsGrp/EOYAmt08912529
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt013303841
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0556687
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01301746
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06897671
IRS990/TotalFunctionalExpensesGrp/TotalAmt08756104
IRS990/TotalGrossUBIAmt0142201
IRS990/TotalLiabilitiesBOYAmt01709078
IRS990/TotalLiabilitiesEOYAmt01642533
IRS990/TotalLiabilitiesGrp/BOYAmt01709078
IRS990/TotalLiabilitiesGrp/EOYAmt01642533
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02532975
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07269996
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt06897671
IRS990/TotalReportableCompFromOrgAmt0268500
IRS990/TotalRevenueGrp/ExclusionAmt047083
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt013493125
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0142201
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04242053
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08912529
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0666 DUNDEE ROAD 600
IRS990/USAddress/CityNm0NORTHBROOK
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060062
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID DESROSIERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06465283083
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REAL CLEAR FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0REAL
ReturnHeader/Filer/EIN0522128875
ReturnHeader/Filer/PhoneNum07735459090
ReturnHeader/Filer/USAddress/AddressLine1Txt0666 DUNDEE ROAD 600
ReturnHeader/Filer/USAddress/CityNm0NORTHBROOK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060062
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362742663
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LEAF DAHL AND COMPANY LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0666 DUNDEE ROAD BUILDING 600

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