Liabilities / Assets
25th percentile
Higher debt load relative to assets than 25% of similar nonprofits.
The Joseph Biden Foundation
990 • Fiscal year 2016 • EIN 81-1329470
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.01x
Liabilities / Revenue
20th percentile
Higher debt load relative to revenue than 20% of similar nonprofits.
Net Margin
98th percentile
Higher net margin than 98% of similar nonprofits.
Top Officer Pay
36th percentile
Higher top officer pay than 36% of similar nonprofits.
Top officer pay equals 0.3% of source-year revenue.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
$3,278,429
No earlier filing loaded for comparison.
Net Assets
$3,247,725
No earlier filing loaded for comparison.
Liabilities
$30,704
No earlier filing loaded for comparison.
Revenue And Expenses
Revenue
$3,401,429
No earlier filing loaded for comparison.
Expenses
$153,704
No earlier filing loaded for comparison.
Net Income
$3,247,725
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2016 to Dec 31, 2016
- Signed
- May 15, 2017
- Return Version
- 2016v3.0
- Gross Receipts
- $3,401,429
Mission and Program Overview
Mission
The Biden Foundation champions progress and prosperity for American families.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $0 | $2,100,850 | ▲ $2,100,850 |
| Pledges and Grants Receivable | $0 | $1,100,000 | ▲ $1,100,000 |
| Intangible Assets | $0 | $67,035 | ▲ $67,035 |
| Prepaid Expenses and Deferred Charges | $0 | $9,125 | ▲ $9,125 |
| Cash and Non-Interest-Bearing Accounts | $0 | $1,419 | ▲ $1,419 |
| 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 Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Investments in Publicly Traded Securities | $0 | $0 | → $0 |
| Land, Buildings, and Equipment, Net | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $0 | $3,278,429 | ▲ $3,278,429 |
| Other Assets Total | $0 | $0 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $0 | $30,704 | ▲ $30,704 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Other Liabilities | $0 | $0 | → $0 |
| Deferred Revenue | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $0 | $30,704 | ▲ $30,704 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $0 | $3,247,725 | ▲ $3,247,725 |
| Permanently Rstr Net Assets | $0 | $0 | → $0 |
| Temporarily Rstr Net Assets | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $0 | $3,247,725 | ▲ $3,247,725 |
| Total Liabilities and Net Assets / Fund Balance | $0 | $3,278,429 | ▲ $3,278,429 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Other | Total |
|---|---|---|---|---|
| Louisa Terrell | Executive Director | FT | $8,846 | $8,846 |
Board Members and Trustees
| Name | Title |
|---|---|
| Ted Kaufman | Chair |
| Mark Gitenstein | President |
| Mark Angelson | Vice Chair & Treasurer |
| Valerie Biden Owens | Secretary |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Vox Global | Web & Communication | PO BOX 771733, St Louis, MO 63177 | $135,368 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $3,401,100
- Program Service Revenue
- $0
- Investment Income
- $329
- Other Revenue
- $0
- All Other Contributions
- $3,401,100
- Change in Net Assets
- $3,247,725
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $144,181 |
| Salaries, Compensation, and Employee Benefits | $9,523 |
| Total Fundraising Expense | $9,076 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $68,333 | $3,115 | - | $71,448 |
| Fees for Services Legal | $26,250 | $29,520 | - | $55,770 |
| Travel | $17 | $3,653 | $8,281 | $11,951 |
| Current Officers, Directors, Trustees, and Key Employees | $8,846 | - | - | $8,846 |
| Insurance | - | $1,825 | - | $1,825 |
| Payroll Taxes | $677 | - | - | $677 |
| Other Expenses | $959 | $307 | $146 | $307 |
| Total Functional Expenses | $105,843 | $38,785 | $9,076 | $153,704 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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 Item | Beginning | End | Change |
|---|---|---|---|
| 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 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Backup withholding compliance
- 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
- 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
- No
Governance Explanations
Form 990, Part VI, 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 discloses any potential conflict of interest. Compliance with the Conflict of Interest Policy is 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 is involved is 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, LINE 15A Process for determining compensation for the CEO, Executive Director, or top management official Compensation was determined by the board of directors using prevailing market data.”
Filing and Contact Details
Filer
- Filer Name
- The Joseph Biden Foundation
- EIN
- 81-1329470
- In Care Of
- % LOUISA TERRELL
- Phone
- 2025591800
- Address
- PO Box 65464, Washington, DC 20035-5464
Signing Officer
- Name
- Louisa Terrell
- Title
- Executive Director
- Phone
- 2025591800
- Signed
- 2017-05-15
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Louisa Terrell
- Formed
- 2013
- Legal Domicile
- De
- Voting Board Members
- 4
- Independent Board Members
- 4
- Employees
- 0
- Volunteers
- 4
Preparer
- Firm
- Ernst & Young US Llp
- Address
- 800 Yard Street Suite 200, Grandview Heights, OH 43212
- Preparer
- Diane L Bean
- Phone
- 6142245678
Supplemental Narrative
Additional Explanations
Form 990, Part III, Line 1
“ORGANIZATION'S MISSION The Biden Foundation will build upon Vice President and Dr. Biden's lifelong commitment to protect and advance the rights and opportunities of all people through educational programming and public policy analysis. Initially, the Foundation's areas of focus will be: Foreign Policy, The Cancer Initiative, Community Colleges and Military Families, Protecting Children, Equality Violence Against Women & Strengthening the middle Class. Vice 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 will build upon that mission: to identify policies that advance the middle class, decrease economic inequality and increase opportunity for all people. Also, 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 VI, LINE 2A DEFERRED COMPENSATION FOR LOUISA TERRELL The Executive Director, Louisa Terrell, accrued $8,846 in deferred salary during December 2016. She received payment from the Foundation in January 2017. Accordingly, the Foundation didnt file employment tax returns until 2017. FORM 990, PART VI, LINE 11B describe the process used by management AND/or governing body to review FORM 990 The 990 is reviewed by the Treasurer and distributed to the board of directors before filing.”
Form 990 Part IX Line 11G
“Description:communications & web total fees:68333”
Form 990 Part IX Line 11G
“Description:licenses & registration total fees:2677”
Form 990 Part IX Line 11G
“Description:postage & delivery total fees:348”
Form 990 Part IX Line 11G
“Description:bank charges total fees:90”
Raw XML AppendixShowing 400 of 440 raw XML fields
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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| IRS990/Desc | 0 | Established communications and policy framework for the foundations seven policy and education pillars which are: Foreign Policy, Community Colleges and Military Families, Equality, Strengthening the Middle Class, The Cancer Initiative, Protecting Children, and Ending Violence Against Women. |
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| IRS990/OtherExpensesGrp/Desc | 1 | SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 2 | MEALS |
| IRS990/OtherExpensesGrp/Desc | 3 | COMPUTER EQUIPMENT &SOFTWARE |
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| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 38 |
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| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 307 |
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| IRS990/OtherExpensesGrp/TotalAmt | 1 | 997 |
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| IRS990/PrincipalOfficerNm | 0 | Louisa Terrell |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
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| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | ORGANIZATION'S MISSION The Biden Foundation will build upon Vice President and Dr. Biden's lifelong commitment to protect and advance the rights and opportunities of all people through educational programming and public policy analysis. Initially, the Foundation's areas of focus will be: Foreign Policy, The Cancer Initiative, Community Colleges and Military Families, Protecting Children, Equality Violence Against Women & Strengthening the middle Class. Vice 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 will build upon that mission: to identify policies that advance the middle class, decrease economic inequality and increase opportunity for all people. Also, 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 VI, LINE 2A DEFERRED COMPENSATION FOR LOUISA TERRELL The Executive Director, Louisa Terrell, accrued $8,846 in deferred salary during December 2016. She received payment from the Foundation in January 2017. Accordingly, the Foundation didnt file employment tax returns until 2017. FORM 990, PART VI, LINE 11B describe the process used by management AND/or governing body to review FORM 990 The 990 is reviewed by the Treasurer and distributed to the board of directors before filing. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Description of Process to Monitor Transactions for Conflicts of Interest The organization's Conflict of Interest Policy requires that each officer or director discloses any potential conflict of interest. Compliance with the Conflict of Interest Policy is 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 is involved is 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, LINE 15A Process for determining compensation for the CEO, Executive Director, or top management official Compensation was determined by the board of directors using prevailing market data. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | DESCRIPTION:COMMUNICATIONS & WEB TOTAL FEES:68333 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | DESCRIPTION:LICENSES & REGISTRATION TOTAL FEES:2677 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | DESCRIPTION:POSTAGE & DELIVERY TOTAL FEES:348 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | DESCRIPTION:BANK CHARGES TOTAL FEES:90 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART III, LINE 1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990 PART IX LINE 11G |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990 PART IX LINE 11G |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990 PART IX LINE 11G |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990 PART IX LINE 11G |
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| IRS990/SignificantChangeInd | 0 | false |
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| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | CO |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 1 | DE |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 2 | DC |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 3 | FL |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 4 | GA |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 5 | IL |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 6 | MD |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 7 | MA |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 8 | NY |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 9 | PA |
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| IRS990/TravelGrp/ManagementAndGeneralAmt | 0 | 3653 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 17 |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $3,278,429
- Liabilities
- $30,704
- Net assets
- $3,247,725
- Revenue
- $3,401,429
- Expenses
- $153,704
- Net income
- $3,247,725