Civic Intelligence

Aip Foundation

990 • Fiscal year 2023 • EIN 83-4485064

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 09, 2024

1 Physics EllipseCollege Park, MD 20740

(301) 209-3100

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.06x

Higher debt load relative to assets than 32% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

64th percentile

0.44x

Higher debt load relative to revenue than 64% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

8th percentile

-37%

Higher net margin than 8% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

94th percentile

$668,496

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 25.1% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

56th percentile

8.0%

Faster asset growth than 56% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-84%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Up

$18,690,997

Up $1,389,710 (+8.0%) from 2022

Net Assets

Up

$17,531,985

Up $278,121 (+1.6%) from 2022

Liabilities

Up

$1,159,012

Up $1,111,589 (+2344%) from 2022

Revenue

Down

$2,664,186

Down $14,502,262 (-84%) from 2022

Expenses

Up

$3,649,666

Up $2,188,731 (+150%) from 2022

Net Income

Down

-$985,480

Down $16,690,993 (-106%) from 2022

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2019: $10,000Liabilities 2019: $0Net Assets 2019: $10,0002019Assets 2020: $166,618Liabilities 2020: $63,839Net Assets 2020: $102,7792020Assets 2021: $932,385Liabilities 2021: $12,851Net Assets 2021: $919,5342021Assets 2022: $17,301,287Liabilities 2022: $47,423Net Assets 2022: $17,253,8642022Assets 2023: $18,690,997Liabilities 2023: $1,159,012Net Assets 2023: $17,531,9852023Assets 2024: $17,119,452Liabilities 2024: $670,995Net Assets 2024: $16,448,4572024

Highlighted filing

2023

Assets$18,690,997
Liabilities$1,159,012
Net Assets$17,531,985

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2019: $230,368Expenses 2019: $220,368Net Income 2019: $10,0002019Revenue 2020: $241,200Expenses 2020: $846,269Net Income 2020: -$605,0692020Revenue 2021: $1,213,393Expenses 2021: $1,006,782Net Income 2021: $206,6112021Revenue 2022: $17,166,448Expenses 2022: $1,460,935Net Income 2022: $15,705,5132022Revenue 2023: $2,664,186Expenses 2023: $3,649,666Net Income 2023: -$985,4802023Revenue 2024: $2,166,896Expenses 2024: $4,625,872Net Income 2024: -$2,458,9762024

Highlighted filing

2023

Revenue$2,664,186
Expenses$3,649,666
Net Income-$985,480
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 9, 2024
Return Version
2023v5.1
Gross Receipts
$2,664,186
Mission and Program Overview

Mission

The aip foundation's mission is to create a culture of philanthropy and generate support that will advance aips role as a world-class center of excellence in research on the heritage and history of the physical sciences, as well as enrich the experience of and propel the careers of a new generation of scientists.

The aip foundation is organized and operates exclusively for charitable, scientific, and educational purposes within the meaning of section 501(c)(3) of the irs code 1986.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$10,509,902$9,473,132▼ $1,036,770
Investments in Publicly Traded Securities$6,625,267$8,994,606▲ $2,369,339
Cash and Non-Interest-Bearing Accounts$119,345$154,011▲ $34,666
Prepaid Expenses and Deferred Charges$46,773$69,248▲ $22,475
Savings and Temporary Cash Investments$0$0→ $0
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
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
Total Assets$17,301,287$18,690,997▲ $1,389,710
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$5,009$1,139,762▲ $1,134,753
Accounts Payable and Accrued Expenses$42,414$19,250▼ $23,164
Grants Payable$0$0→ $0
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$47,423$1,159,012▲ $1,111,589
Net Assets / Fund Balance
Net Assets With Donor Restrictions$17,002,955$17,357,957▲ $355,002
Net Assets Without Donor Restrictions$250,909$174,028▼ $76,881
Total Net Assets Fund Balance$17,253,864$17,531,985▲ $278,121
Total Liabilities and Net Assets / Fund Balance$17,301,287$18,690,997▲ $1,389,710

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$5,474,583$90,118▲ $388,226-$5,952,927
2022$422,638$5,047,971▲ $3,974-$5,474,583
2021$21,517$401,100▲ $21-$422,638
2020-$21,517--$21,517
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Susan AveryTreasurerPT$30,000$30,000

Board Members and Trustees

NameTitle
France CordovaChair
Anneila SargentDirector
John MatherDirector
Julia PhillipsDirector
Nancy GreenspanDirector
Sandeep GiriDirector
Vanessa Ellerbe WycheDirector
Vinton CerfDirector
Anna LeeExecutive Director
Michael MoloneyCEO, Aip
Catherine SwartzCFO, Aip
Melissa PerrySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,231,807
Program Service Revenue
$0
Investment Income
$432,379
Other Revenue
$0
All Other Contributions
$1,905,883
Change in Net Assets
$-985,480

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Closely Held Stock1$50,263Stock exchange value
Total Noncash Contributions1$50,263-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,596,525
Total Fundraising Expense$1,345,164
Professional Fundraising Fees$53,141
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,126,866$69,600$1,029,066$1,098,666
Conferences and Meetings-$55,578$58,163$113,741
Information Technology--$66,258$66,258
Advertising--$64,388$64,388
Fees for Services Professional Fundraising--$53,141$53,141
Travel--$30,347$30,347
Fees for Services Accounting-$23,992-$23,992
Fees for Service Investment Mgmnt Fees-$22,299-$22,299
Fees for Services Other-$667$18,637$19,304
Fees for Services Management--$19,101$19,101
Office Expenses--$6,063$6,063
Insurance-$5,500-$5,500
Total Functional Expenses$2,126,866$177,636$1,345,164$3,649,666
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$53,141
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Organization$1,139,762
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, LINE 6:

Explanation of classes of members or shareholders: aip foundation is a non-profit non-stock corporation.

FORM 990, PART VI, LINE 7A:

How members of shareholders elect governing board: except for the initial board of trustees, the number of trustees constituting the entire board of trustees shall be fixed by action of aip, as member, provided that the number of trustees shall not be less than 3 nor more than 17, including two ex-officio trustees. The number of trustees may be increased or decreased by amendment of the bylaws or by action of aip, as member.

FORM 990, PART VI, LINE 7B:

Aip, as member, shall annually elect trustees to fill the seats of trustees whose terms are expiring, and each trustee shall hold office for his or her term and until a successor has been elected and qualified or until an earlier resignation or removal. The corporation may be dissolved, and its assets distributed as provided in the certificate of incorporation, only by action of aip, as member of the corporation.

FORM 990, PART VI, LINE 11B:

Form 990 review process: the form 990 is reviewed by the cfo and then made available to all members of the board of trustees. Information pertaining to certain contributions may be redacted from the form presented for review if requested by the donor.

FORM 990, PART VI, LINE 12C:

The conflict-of-interest policy is provided to each member of the board of trustees. All trustees are required to disclose any conflicts of interest and to notify the board of any conflicts that may arise throughout the year.

FORM 990, PART VI, LINE 15B:

Aip foundation pays no compensation and therefore has no compensation policy. The related organization, the american institute of physics, details their compensation policies on schedule j and schedule o of their form 990.

FORM 990, PART VI, LINE 19:

Other organization documents made available to the public: financial information and the conflict of interest policy are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
AIP Foundation
EIN
83-4485064
In Care Of
% CATHERINE G SWARTZ
Phone
3012093100
Address
1 PHYSICS ELLIPSE, COLLEGE PARK, MD 20740

Signing Officer

Name
Catherine Swartz
Title
Cfao
Phone
3012093100
Signed
2024-10-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anna Lee
Formed
2019
Legal Domicile
De
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
20

Preparer

Firm
Bdo USA
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Marc Berger
Phone
7038930600
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4D:

Diversity, equity, inclusion aip continues to invest in diversity, equity, and inclusion across the institute to help foster inclusive and welcoming environments so anyone who is interested in the physical sciences can persist in their educational and professional journey. In january 2020, the task force to elevate african american representation in undergraduate physics and astronomy (team-up) released its groundbreaking report, "the time is now: systemic changes to increase african americans with bachelor's degrees in physics and astronomy". Recognizing the importance of both research and action, aip dedicated full-time staff to promote and advance the team-up report recommendations within the physics and astronomy academic communities and assembled a committee of experts to organize implementation workshops aimed at helping these departments create action plans and environments where students can thrive. To build on the reserch from the team-up report and implementation workshops, the team-up together initiative was launched with the purpose to support and inspire a broader community of educators, funders, policymakers, scientists, and others to address systemic change and create a culture of inclusion, support, and success in physics and astronomy departments. Aip established a joint award with the national society of black physicists, the aip-nsbp joseph a. Johnson ii award,which honors dr. Johnson's legacy as a pioneering experimental physicist,cofounder of nsbp, and inspirational mentor to countless black students. Aip partnered with the #blackinphysics organizers to spotlight black physicists - their stories and their contributions to science and society. Our flagship publication, physics today, created a #blackinphysics week essay series as part of that partnership and each year draws attention to issues affecting women, lgbtqai+ people, people with disablities and people of color in the physical sciences. In 2022, aip established the diveristy, equity, inclusion, belonging and accessibility (deiba) workgroup consisting of nine member societies. The purpose of this group is to develop a deiba strategic plan to advance the member societies' deiba initiatives and programs, as well as provide guidance on prioritizing strategies, and championing implementation efforts. The purpose of the deiba strategic plan is to support aip's mission to "advance, promote,and serve the physical sciences for the benefit of humanityto support the work of the member societies and federation at large to advance deiba in the physical sciences community.

Financial Statement Notes

SCHEDULE D, PART V, LINE 4:

Aipf has eight separate funds which have been endowed by donors: the robert h.g. Helleman memorial endowment fund, the sps endowment fund, the sigma pi sigma congress centennial endowment fund, the center for the history of physics endowment fund, the trimble lecture endowment fund, the physics heritage & promise endowment fund, the alice dodge wallace physics history & promise endowment fund, and the stith endowment fund. In his will robert h.g. Helleman bequeathed funds for aip to establish an endowment to support graduate students or postdoctoral fellows with dutch citizenship to pursue research activities in physics in the united states. The sps endowment fund supports student travel grants, making it possible for them to attend seminars and conferences or to present research and other work at symposia. It also supports programs and gatherings of the physics and astronomy communities. The sigma pi sigma congress centennial endowment fund will be used to lower the financial burden for students who might otherwise not attend the centennial physcon, the modern incarnation of the historical sigma pi sigma congress, by reducing the costs of registration, travel, lodging, and meals. The chp endowment fund supports the center in building its public programs that will be needed to connect scholars, oral histories, and other archives to the public in years to come, as well as supporting ongoing research and educational outreach. The trimble lecture endowment fund supports the ongoing engagement of noted scholars and lecturers who not only address but interact with audiences in person and online in the ongoing exploration of physics and related sciences and their societal relevance to past and future generations. The physics heritage & promise endowment fund is used to support mission-based initiatives related to history and library programs. Physics history & promise endowment fund is used to support mission-based initiatives related to aip history programs; namely, to preserve and make known the history of physics and allied sciences. The stith endowment fund is used to support professional development in physics.

SCHEDULE D, PART X, LINE 2:

The foundation follows u.s. Gaap which recognize income tax positions taken or expected to be taken in a tax return only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The foundation believes that its income tax positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the foundation's financial position, results of activities or cash flows. Accordingly, the foundation has not recorded any reserves or related accruals for uncertain tax positions on december 31, 2023 and 2022. The foundation believes that it is no longer subject to u.s. Federal, state, and local income tax examinations by tax authorities for years before 2021.

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IRS990/MissionDesc0AIP Foundation inspires transformative philanthropy that empowers physical scientists to make a global impact. We support hundreds of thousands of scientists in the physical sciences community, enabling breakthroughs that change our lives. The purpose of the Corporation is exclusively to operate for the benefit of, to perform the functions of, and to carry out the purposes of the American Institute of Physics Incorporated ("AIP"). The Corporation shall not be operated to further any purposes that do not support the charitable, educational, and scientific purposes of AIP.
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IRS990/ProgSrvcAccomActy2Grp/Desc0SOCIETY OF PHYSICS STUDENTS AND SIGMA PI SIGMA THE SOCIETY OF PHYSICS STUDENTS (SPS) IS A SCIENTIFIC SOCIETY FOR PHYSICS AND ASTRONOMY UNDERGRADUATES AND THEIR MENTORS, WITH MORE THAN 6,400 MEMBERS AND 900 SPS CHAPTERS NATIONWIDE AND 36 INTERNATIONAL CHAPTERS. SPS EXISTS TO SUPPORT UNDERGRADUATE STUDENTS WITH AN INTEREST IN PHYSICS, PHYSICS AND ASTRONOMY DEPARTMENTS, AND THE BROADER COMMUNITY. SIGMA PI SIGMA, THE PHYSICS AND ASTRONOMY HONOR SOCIETY, RECOGNIZES OUTSTANDING SCHOLARS IN PHYSICS AND ASTRONOMY, ENCOURAGES INTEREST IN THE FIELD, AND PROMOTES AN ATTITUDE OF SERVICE AMONG ITS OVER 80,000 MEMBERS AND 591 CHAPTERS TOWARDS THE ENTIRE PHYSICS COMMUNITY AND THE PUBLIC. A PRIMARY MISSION OF SIGMA PI SIGMA IS TO SUPPORT PHYSICISTS, UNDERGRADUATE DEPARTMENTS, AND ALUMNI BY IMPROVING DEPARTMENT HEALTH. THE SOCIETY OF PHYSICS STUDENTS AND SIGMA PI SIGMA PROVIDE ENRICHING EXPERIENCES FOR STUDENTS INTERESTED IN THE PHYSICAL SCIENCES AND ASTRONOMY THROUGH CHAPTER, MEMBER, AND STUDENT PROGRAMS - OPPORTUNITIES THAT PROMOTE THE PROFESSIONAL DEVELOPMENT OF THE UNDERGRADUATE PHYSICS AND ASTRONOMY STUDENT.
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