Civic Intelligence

The Biden Foundation

EIN 81-1329470 • 501(c)3 • Washington, DC

Profile

The biden foundation champions progress and prosperity for american families.

CO Perkins Coie 700 13 St NW NoWashington, DC 20005

www.bidenfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

1st percentile

-20288%

Higher net margin than 1% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

5th percentile

-97%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$0

Down $2,094,221 (-100%) from 2019

Liabilities

Down

$0

Down $3,701 (-100%) from 2019

Net Assets

Down

$0

Down $2,090,520 (-100%) from 2019

Revenue

Down

$10,304

Down $323,529 (-97%) from 2019

Expenses

Up

$2,100,824

Up $131,730 (+6.7%) from 2019

Net Income

Down

-$2,090,520

Down $455,259 (-28%) from 2019

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2016: $3,278,429Liabilities 2016: $30,704Net Assets 2016: $3,247,7252016Assets 2017: $4,008,798Liabilities 2017: $91,534Net Assets 2017: $3,917,2642017Assets 2018: $3,822,231Liabilities 2018: $96,450Net Assets 2018: $3,725,7812018Assets 2019: $2,094,221Liabilities 2019: $3,701Net Assets 2019: $2,090,5202019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2016: $3,401,429Expenses 2016: $153,704Net Income 2016: $3,247,7252016Revenue 2017: $3,223,083Expenses 2017: $2,553,544Net Income 2017: $669,5392017Revenue 2018: $3,296,113Expenses 2018: $3,487,596Net Income 2018: -$191,4832018Revenue 2019: $333,833Expenses 2019: $1,969,094Net Income 2019: -$1,635,2612019Revenue 2020: $10,304Expenses 2020: $2,100,824Net Income 2020: -$2,090,5202020

Highlighted filing

2020

Revenue$10,304
Expenses$2,100,824
Net Income-$2,090,520

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 28, 2020
Signed
Feb 25, 2021
Return Version
2020v4.0
Gross Receipts
$10,304
Mission and Program Overview

Mission

The biden foundation champions progress and prosperity for american families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,064,666$0▼ $2,064,666
Prepaid Expenses and Deferred Charges$28,546$0▼ $28,546
Accounts Receivable$1,009$0▼ $1,009
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,094,221$0▼ $2,094,221
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,701--
Total Liabilities$3,701$0▼ $3,701
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,090,520$0▼ $2,090,520
Total Net Assets Fund Balance$2,090,520$0▼ $2,090,520
Total Liabilities and Net Assets / Fund Balance$2,094,221$0▼ $2,094,221
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ted KaufmanChair
Mark GitensteinPresident
Valerie Biden OwensVice Chair
Mark AngelsonVice Chair & Secretary
Jeffrey PeckVice Chair & Treasurer
Darla PomeroyDirector
Micaela Fernandez AllenDirector
Nicole IsaacDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$10,304
Other Revenue
$0
Change in Net Assets
$-2,090,520
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,835,265
Other Expenses$265,559
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,835,265--$1,835,265
Insurance-$123,113-$123,113
Fees for Services Accounting-$96,531-$96,531
Fees for Services Other-$18,986-$18,986
Information Technology-$14,198-$14,198
Fees for Services Legal-$10,000-$10,000
Office Expenses-$2,292-$2,292
Other Expenses-$439-$439
Total Functional Expenses$1,835,265$265,559$0$2,100,824
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Beau Biden Foundation for the Protection of ChildrenWilmington, DE501(c)(3)Program Support$1,835,265
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Section B, Line 11B

The form 990 was reviewed by the treasurer and distributed to the board of directors before filing.

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

Description of process to monitor transactions for conflicts of interest: the organization's conflict of interest policy requires that each officer or director disclose any potential conflict of interest. Compliance with the conflict of interest policy was monitored and reviewed by outside counsel. Any officer or director found to have a conflict of interest with respect to a transaction in which the organization was involved was recused from deliberation and decision-making related to such transaction in the manner set forth in section c.3 of the organization's conflict of interest policy.

Form 990, Part VI, Section C, Line 19

Documents available to the public the form 990 and governing documents were available upon request.

Filing and Contact Details

Filer

Filer Name
The Biden Foundation
EIN
81-1329470
Phone
2026546200
Address
CO PERKINS COIE 700 13 ST NW NO, WASHINGTON, DC 20005

Signing Officer

Name
Jeffrey Peck
Title
Treasurer
Phone
2026546200
Signed
2021-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Peck
Formed
2016
Legal Domicile
De
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Ernst & Young US Llp
Address
1101 NEW YORK AVE NW, WASHINGTON, DC 20005
Preparer
Amber Gazica
Phone
2023276000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

The biden foundation built upon president joe biden and dr. Biden's lifelong commitment to protect and advance the rights and opportunities of all people through educational programming and public policy analysis. The foundation's primary areas of focus were: foreign policy, the cancer initiative, community colleges and military families, protecting children, equality, violence against women, and strengthening the middle class. President biden has played a unique role in our country throughout his years of public service. He has championed - and will continue to champion - progress and prosperity for american families. The biden foundation built upon that mission: to identify policies that advance the middle class, decrease economic inequality and increase opportunity for all people. In addition, the foundation worked to ensure that everyone - no matter their income level, race, gender, age or sexuality - is treated equally and gets a fair shot at achieving the american dream.

Form 990, Part III, Line 3

The biden foundation suspended operations in 2019 and dissolved in november 2020.

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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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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BIDEN FOUNDATION WORKED CLOSELY WITH ITS GRANT RECIPIENTS TO CREATE INITIATIVES THAT ALIGN WITH ITS EXEMPT PURPOSE. EACH INITIATIVE WAS DIRECTLY ALIGNED WITH ONE OF THE FOUNDATION'S PILLARS. SEE THE PROGRAM SERVICES DESCRIPTIONS IN FORM 990, PART III AND SCHEDULE O FOR MORE INFORMATION ON THE FOUNDATION'S GRANT PROGRAMS. ADDITIONALLY, A FORMAL GRANT AGREEMENT WAS SIGNED BY BOTH PARTIES ATTESTING TO THE USE OF THE FUNDS BEFORE A GRANT WAS PROVIDED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BIDEN FOUNDATION BUILT UPON PRESIDENT JOE BIDEN AND DR. BIDEN'S LIFELONG COMMITMENT TO PROTECT AND ADVANCE THE RIGHTS AND OPPORTUNITIES OF ALL PEOPLE THROUGH EDUCATIONAL PROGRAMMING AND PUBLIC POLICY ANALYSIS. THE FOUNDATION'S PRIMARY AREAS OF FOCUS WERE: FOREIGN POLICY, THE CANCER INITIATIVE, COMMUNITY COLLEGES AND MILITARY FAMILIES, PROTECTING CHILDREN, EQUALITY, VIOLENCE AGAINST WOMEN, AND STRENGTHENING THE MIDDLE CLASS. PRESIDENT BIDEN HAS PLAYED A UNIQUE ROLE IN OUR COUNTRY THROUGHOUT HIS YEARS OF PUBLIC SERVICE. HE HAS CHAMPIONED - AND WILL CONTINUE TO CHAMPION - PROGRESS AND PROSPERITY FOR AMERICAN FAMILIES. THE BIDEN FOUNDATION BUILT UPON THAT MISSION: TO IDENTIFY POLICIES THAT ADVANCE THE MIDDLE CLASS, DECREASE ECONOMIC INEQUALITY AND INCREASE OPPORTUNITY FOR ALL PEOPLE. IN ADDITION, THE FOUNDATION WORKED TO ENSURE THAT EVERYONE - NO MATTER THEIR INCOME LEVEL, RACE, GENDER, AGE OR SEXUALITY - IS TREATED EQUALLY AND GETS A FAIR SHOT AT ACHIEVING THE AMERICAN DREAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BIDEN FOUNDATION SUSPENDED OPERATIONS IN 2019 AND DISSOLVED IN NOVEMBER 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS REVIEWED BY THE TREASURER AND DISTRIBUTED TO THE BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION OF PROCESS TO MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST: THE ORGANIZATION'S CONFLICT OF INTEREST POLICY REQUIRES THAT EACH OFFICER OR DIRECTOR DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST. COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY WAS MONITORED AND REVIEWED BY OUTSIDE COUNSEL. ANY OFFICER OR DIRECTOR FOUND TO HAVE A CONFLICT OF INTEREST WITH RESPECT TO A TRANSACTION IN WHICH THE ORGANIZATION WAS INVOLVED WAS RECUSED FROM DELIBERATION AND DECISION-MAKING RELATED TO SUCH TRANSACTION IN THE MANNER SET FORTH IN SECTION C.3 OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AVAILABLE TO THE PUBLIC THE FORM 990 AND GOVERNING DOCUMENTS WERE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
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ReturnHeader/ReturnTs02021-02-25T09:51:22-06:00
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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-28
ReturnHeader/TaxYr02020

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