Civic Intelligence

The Joseph Biden Foundation

990 • Fiscal year 2019 • EIN 81-1329470

Jan 01, 2019 to Dec 31, 2019 • Filed on May 14, 2020

c/o Perkins Coie 700 13th St NW SuWashington, DC 20005

(202) 654-6200

Siviq Scores

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

Liabilities / Assets

20th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

24th percentile

0.01x

Higher debt load relative to revenue than 24% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

1st percentile

-490%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

90th percentile

$202,633

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 60.7% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

2nd percentile

-45%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-90%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$2,094,221

Down $1,728,010 (-45%) from 2018

Net Assets

Down

$2,090,520

Down $1,635,261 (-44%) from 2018

Liabilities

Down

$3,701

Down $92,749 (-96%) from 2018

Revenue

Down

$333,833

Down $2,962,280 (-90%) from 2018

Expenses

Down

$1,969,094

Down $1,518,502 (-44%) from 2018

Net Income

Down

-$1,635,261

Down $1,443,778 (-754%) from 2018

Historical Trend

Balance Sheet Trend

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

$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

2019

Assets$2,094,221
Liabilities$3,701
Net Assets$2,090,520

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$333,833
Expenses$1,969,094
Net Income-$1,635,261
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 14, 2020
Return Version
2019v5.1
Gross Receipts
$333,833
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$3,743,637$2,064,666▼ $1,678,971
Intangible Assets$37,639$0▼ $37,639
Prepaid Expenses and Deferred Charges$17,580$28,546▲ $10,966
Pledges and Grants Receivable$2,000$0▼ $2,000
Accounts Receivable$21,375$1,009▼ $20,366
Savings and Temporary Cash Investments$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$3,822,231$2,094,221▼ $1,728,010
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$96,450$3,701▼ $92,749
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$96,450$3,701▼ $92,749
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,725,781$2,090,520▼ $1,635,261
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$3,725,781$2,090,520▼ $1,635,261
Total Liabilities and Net Assets / Fund Balance$3,822,231$2,094,221▼ $1,728,010
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
LOUISA TERRELLEnd 61Executive DirectorFT$173,159$29,474$202,633
LOUISA TERRELLEnd 61519Executive Director-$173,159$29,474$202,633
Mala AdigaEnd 53119Director OF Higher Ed & Military FaFT$126,694$5,101$131,795

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 Alledirector
Nicole Isaacdirector
Revenue and Support

Revenue Composition

Contributions and Grants
$283,222
Program Service Revenue
$5,000
Investment Income
$45,611
Other Revenue
$0
All Other Contributions
$283,222
Change in Net Assets
$-1,635,261

Audited Revenue Reconciliation

Revenue per Audited Statements
$333,833
Total Revenue per Audited Statements
$333,833
Total Revenue per Form 990
$333,833
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$801,905
Salaries, Compensation, and Employee Benefits$748,939
Grants and Similar Amounts Paid$392,000
Total Fundraising Expense$53,513
Professional Fundraising Fees$26,250

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$469,417$20,181$3,355$492,953
Grants to Domestic Orgs$392,000--$392,000
Fees for Services Other$308,215$3,229-$311,444
Comp Disqual Persons$133,968$26,794$17,862$178,624
Fees for Services Accounting$3,892$90,940$127$94,959
Occupancy$66,621$4,703$2,176$73,500
Fees for Services Legal$35,000$35,930-$70,930
Insurance$40,248$28,122$2,233$70,603
Payroll Taxes$53,538--$53,538
Travel$48,281$4,529$12$52,822
Office Expenses$42,239$7,653$176$50,068
Depreciation Depletion$37,639--$37,639
Fees for Services Professional Fundraising--$26,250$26,250
Pension Plan Contributions$21,220$1,809$795$23,824
Information Technology$14,439$1,160$472$16,071
Other Expenses$7,671$4,479$15$12,165
Total Functional Expenses$1,677,901$237,680$53,513$1,969,094

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,969,094
Total Expenses per Audited Statements$1,969,094
Total Expenses per Form 990$1,969,094
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ymca of the USAChicago, IL501(c)(3)support$350,000
Achieving the DreamSilver Spring, MD501(c)(3)support$30,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$26,250
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$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
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
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
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 disclose 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.

Form 990, Part VI, Line 19

DOCUMENTS AVAILABLE TO THE PUBLIC The Biden Foundation posts its audited financial statements and 990 to its website. The Governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
The Biden Foundation
EIN
81-1329470
In Care Of
% THE BIDEN FOUNDATION
Phone
2026546200
Address
c/o Perkins Coie 700 13th St NW Su, Washington, DC 20005

Signing Officer

Name
Jeffrey Peck
Title
Treasurer
Phone
2026546200
Signed
2020-05-14
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
16
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

ORGANIZATION'S MISSION THE BIDEN FOUNDATION BUILDS 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. The Foundation's primary areas of focus are: FOREIGN POLICY, THE CANCER INITIATIVE, COMMUNITY COLLEGES AND MILITARY FAMILIES, PROTECTING CHILDREN, EQUALITY, VIOLENCE AGAINST women, and 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 BUILDS UPON THAT MISSION: TO IDENTIFY POLICIES THAT ADVANCE THE MIDDLE CLASS, DECREASE ECONOMIC INEQUALITY AND INCREASE OPPORTUNITY FOR ALL PEOPLE. IN ADDITION, THE FOUNDATION WILL WORK 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 4D OTHER PROGRAM SERVICES ENSURING LGBTQ EQUALITY In America, everyone is entitled to be treated with dignity and respect, regardless of who they are and who they love. Over the past decade, we've made remarkable progress on the journey toward full equality. LGBTQ people are now protected by a federal hate crimes law, no longer banned from serving in the military, and free to marry nationwide. But important work remains if we are to achieve equality for all Americans. Vice President Joe Biden has played a unique role throughout his years of public service, championing progress and prosperity for all. The Biden Foundation will build on that work, continuing Joe Biden's fight for equality that began in the civil rights era and extends to his leadership on LGBTQ equality today. STRENGTHENING THE MIDDLE CLASS Joe Biden believes in the American middle class. To him, the middle class is not only the economic engine of America, but it's also the glue that holds the social fabric of this nation together. He's fought his whole CAREER TO GIVE PEOPLE IN ALL COMMUNITIES - LIKE THE ONES HE AND DR.BIDEN GREW UP IN - A FAIR SHOT AT ACHIEVING THEIR DREAMS. AND HE KNOWS THAT IF you give all Americans a fighting chance, they can do extraordinary things. Middle class families have made incredible progress, but there's more work to do. That's why we launched the Biden Forum. The Biden Forum is an online conversation devoted to you: the American middle class and those working hard to get there. The Forum features diverse viewpoints from industry leaders, innovators, elected officials, and American workers from every corner. We are spotlighting local initiatives from communities across the country and providing a platform for everyday people to share their ideas. 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 total fees:108969

Form 990 Part IX Line 11G

Description:program consultants total fees:202475

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IRS990/Form990PartVIISectionAGrp/PersonNm1Mala AdigaEnd 53119
IRS990/Form990PartVIISectionAGrp/PersonNm2VALERIE BIDEN OWENS
IRS990/Form990PartVIISectionAGrp/PersonNm3Jeffrey Peck
IRS990/Form990PartVIISectionAGrp/PersonNm4TED KAUFMAN
IRS990/Form990PartVIISectionAGrp/PersonNm5Mark Gitenstein
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1Dir OF Higher Ed & Military Fa
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice Chair & Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5President
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice Chair & Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt7director
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IRS990/OtherExpensesGrp/Desc1LICENSES & SUBSCRIPTIONS
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IRS990/PrincipalOfficerNm0Jeffrey Peck
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IRS990/ProgramServiceRevenueGrp/Desc0MILITARY FAMILIES: CHLDRN REIMBS FOR BKS
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IRS990/ProgSrvcAccomActy2Grp/Desc0ADVANCING COMMUNITY COLLEGE For millions of people across the United States, community college is the best path forward to fulfilling their potential. Today, more than half of all postsecondary learners attend community COLLEGES - INSTITUTIONS UNIQUELY SUITED TO MEET THE DIVERSE NEEDS OF TODAY'S STUDENTS - TO PURSUE AN EDUCATION WHILE WORKING FULL time and supporting their families. The Foundation will support these distinctly American institutions, where anyone who walks through the door is one step closer to the American Dream.
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IRS990/ProgSrvcAccomActy3Grp/Desc0SUPPORTING MILITARY FAMILIES The Foundation focused on military spouse employment, working to connect military spouses with career opportunities. It also led efforts to support military children: Operation Educate the educators, in partnership with the military child education Coalition and the American Association of Colleges for Teacher Education, directly engages educators to create learning environments that meet the needs of military families and children.
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