Civic Intelligence

Ares Charitable Foundation

990 • Fiscal year 2021 • EIN 84-3666714

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 06, 2022

Organization ProfileN/A
2000 Avenue Of The Stars 12th FLLos Angeles, CA 90067

(424) 285-2736

Siviq Scores

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

Liabilities / Assets

46th percentile

0.05x

Higher debt load relative to assets than 46% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

30th percentile

0.02x

Higher debt load relative to revenue than 30% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

80th percentile

37%

Higher net margin than 80% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Revenue Growth

74th percentile

44%

Faster revenue growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$1,939,560

Up $1,939,560 from 2020

Net Assets

Up

$1,843,779

Up $1,843,779 from 2020

Liabilities

Up

$95,781

Up $95,781 from 2020

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin80th percentile

Revenue

Up

$4,941,400

Up $1,511,400 (+44%) from 2020

Expenses

Down

$3,097,621

Down $332,379 (-9.7%) from 2020

Net Income

Up

$1,843,779

Up $1,843,779 from 2020

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $1,939,560Liabilities 2021: $95,781Net Assets 2021: $1,843,7792021Assets 2022: $1,689,267Liabilities 2022: $942,722Net Assets 2022: $746,5452022Assets 2023: $3,316,227Liabilities 2023: $5,486,858Net Assets 2023: -$2,170,6312023Assets 2024: $1,420,029Liabilities 2024: $2,980,485Net Assets 2024: -$1,560,4562024

Highlighted filing

2021

Assets$1,939,560
Liabilities$95,781
Net Assets$1,843,779
Open 2021 Filing

Operations Trend

Revenue Growth74th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2020: $3,430,000Expenses 2020: $3,430,000Net Income 2020: $02020Revenue 2021: $4,941,400Expenses 2021: $3,097,621Net Income 2021: $1,843,7792021Revenue 2022: $4,895,656Expenses 2022: $5,992,890Net Income 2022: -$1,097,2342022Revenue 2023: $10,703,593Expenses 2023: $13,620,769Net Income 2023: -$2,917,1762023Revenue 2024: $13,896,261Expenses 2024: $13,286,086Net Income 2024: $610,1752024

Highlighted filing

2021

Revenue$4,941,400
Expenses$3,097,621
Net Income$1,843,779
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 6, 2022
Return Version
2021v4.2
Gross Receipts
$4,998,377
Mission and Program Overview

Mission

The general purposes for which the corporation is formed are: (a) to engage in charitable activities consistent with the philanthropic objectives of ares management and its founders and employees, with a focus on education, health care, environmental and social concerns; (b) to solicit, receive, and accept donations, gifts, bequests, grants, income and other things of value; (c) to engage in grant-making to unrelated organizations and institutions for charitable purposes with a focus on education, health care, environmental and social concerns; and (d) to engage, whether alone or in conjunction with others, directly or indirectly, in any other lawful act or activity for which corporations may be organized under the dgcl, and by virtue of such statement all lawful acts and activities shall be within the purposes of the corporation, except for express limitations, if any.

The foundation is focused on accelerating equality of economic opportunity through strategic investments that provide career preparation and reskilling, encourage entrepreneurship and deepen individuals' understanding of personal finance so that people can pursue a better future. The foundation may also serve as a vehicle for select giving opportunities in connection with significant local and global crises, including public health and natural disasters.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$1,772,175-
Savings and Temporary Cash Investments-$148,960-
Pledges and Grants Receivable-$18,425-
Total Assets$0$1,939,560▲ $1,939,560
Liabilities
Accounts Payable and Accrued Expenses-$95,781-
Total Liabilities$0$95,781▲ $95,781
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$1,843,779-
Total Net Assets Fund Balance$0$1,843,779▲ $1,843,779
Total Liabilities and Net Assets / Fund Balance$0$1,939,560▲ $1,939,560
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Michael AroughetiPresident/director
Caroline BlakelyDirector
Michael D WeinerSecretary/director
Gregory MargoliesTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$4,940,952
Program Service Revenue
$0
Investment Income
$448
Other Revenue
$0
All Other Contributions
$4,940,952
Change in Net Assets
$1,843,779

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 Publicly Traded2$56,977Fair Market Value (FMV)
Total Noncash Contributions2$56,977-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,941,400
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,941,400
Total Revenue per Form 990
$4,941,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,000,000
Other Expenses$97,621
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,000,000--$3,000,000
Fees for Services Other-$42,500-$42,500
Fees for Services Legal-$39,970-$39,970
Fees for Services Accounting-$12,726-$12,726
Other Expenses-$2,425-$2,425
Total Functional Expenses$3,000,000$97,621$0$3,097,621

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,097,621
Total Expenses per Audited Statements$3,097,621
Total Expenses per Form 990$3,097,621
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Alt Finance CorporationCulver City, CA501(c)(3)Support Programs for Students and Graduates of Historically Black Colleges and Universities to Learn Skills Necessary to Enter Into and Succeed in the Alternative Asset Management Industry, and Support General Operations of the Alt Finance Foundation.$3,000,000
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
Annual disclosure for covered persons
Yes
Audit committee
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 A, Line 8B

“The organization does not have a committee with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is provided to all members of its governing body before filing.”

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

“The ares foundation's conflict of interest policy requires the accurate completion of this questionnaire on an annual basis by board directors and committee members. The questionnaire should be updated during the year if conflicts arise and/or circumstance substantially change. Board directors and committee members are expected to be aware of all corporate and personal interests and relationships that may either involve or relate to the ares foundation in any way. They must transparently disclose these interests and relationships in this questionnaire, and must comply with all ares foundation policies and requirements concerning conflicts of interest, ethics and related matters. Whenever there is reason to believe that an actual or potential conflict of interest exists between ares charitable foundation ("the corporation") and a covered person, the disinterested directors shall be responsible for reviewing the matter and determining an appropriate organizational response to protect the interests of the corporation. If it is determined that an actual or potential conflict of interest exists between the interests of the corporation and a covered person with respect to a specific proposed action or transaction, the corporation shall refrain from the proposed action or transaction until such time as the proposed action or transaction has been approved by the disinterested directors.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ares Charitable Foundation
EIN
84-3666714
Phone
4242852736
Address
2000 AVENUE OF THE STARS 12TH FL, LOS ANGELES, CA 90067

Signing Officer

Name
Michael Weiner
Title
Secretary
Phone
4242852736
Signed
2022-09-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Arougheti
Formed
2019
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
53

Preparer

Firm
Green Hasson & Janks Llp
Address
700 SOUTH FLOWER STREET SUITE 3300, LOS ANGELES, CA 90017
Preparer
Lizbeth G Nevarez
Phone
3108731600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Ares charitable foundation recognizes the impact of tax positions in the financial statements if that position is more likely than not to be sustained on audit, based on the technical merits of the position. During the year ended december 31, 2021, ares charitable foundation performed an evaluation of uncertain tax positions and did not note any matters that would require recognition in the financial statements or which might have an effect on its tax-exempt status.”

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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/RecipientTable/RecipientEIN0863974526
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0800 CORPORATE POINTE
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0EMPLOYEE-DIRECTED GRANTS: REGIONAL GRANT REVIEW AND DILIGENCE COMMITTEES (GRDCS) CAN APPROVE GRANTS UP TO $250K. GRANT RECOMMENDATIONS GREATER THAN $250K ARE SUBJECT TO REVIEW AND APPROVAL BY THE GRANT APPROVAL COMMITTEE (THE GAC) AND GRANT RECOMMENDATIONS GREATER THAN $500K ARE SUBJECT TO REVIEW AND APPROVAL BY THE BOARD.
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IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ARES FOUNDATION'S CONFLICT OF INTEREST POLICY REQUIRES THE ACCURATE COMPLETION OF THIS QUESTIONNAIRE ON AN ANNUAL BASIS BY BOARD DIRECTORS AND COMMITTEE MEMBERS. THE QUESTIONNAIRE SHOULD BE UPDATED DURING THE YEAR IF CONFLICTS ARISE AND/OR CIRCUMSTANCE SUBSTANTIALLY CHANGE. BOARD DIRECTORS AND COMMITTEE MEMBERS ARE EXPECTED TO BE AWARE OF ALL CORPORATE AND PERSONAL INTERESTS AND RELATIONSHIPS THAT MAY EITHER INVOLVE OR RELATE TO THE ARES FOUNDATION IN ANY WAY. THEY MUST TRANSPARENTLY DISCLOSE THESE INTERESTS AND RELATIONSHIPS IN THIS QUESTIONNAIRE, AND MUST COMPLY WITH ALL ARES FOUNDATION POLICIES AND REQUIREMENTS CONCERNING CONFLICTS OF INTEREST, ETHICS AND RELATED MATTERS. WHENEVER THERE IS REASON TO BELIEVE THAT AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN ARES CHARITABLE FOUNDATION ("THE CORPORATION") AND A COVERED PERSON, THE DISINTERESTED DIRECTORS SHALL BE RESPONSIBLE FOR REVIEWING THE MATTER AND DETERMINING AN APPROPRIATE ORGANIZATIONAL RESPONSE TO PROTECT THE INTERESTS OF THE CORPORATION. IF IT IS DETERMINED THAT AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN THE INTERESTS OF THE CORPORATION AND A COVERED PERSON WITH RESPECT TO A SPECIFIC PROPOSED ACTION OR TRANSACTION, THE CORPORATION SHALL REFRAIN FROM THE PROPOSED ACTION OR TRANSACTION UNTIL SUCH TIME AS THE PROPOSED ACTION OR TRANSACTION HAS BEEN APPROVED BY THE DISINTERESTED DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL WEINER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-09-06
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ReturnHeader/Filer/PhoneNum04242852736
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0951777440
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GREEN HASSON & JANKS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0700 SOUTH FLOWER STREET SUITE 3300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOS ANGELES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090017
ReturnHeader/PreparerPersonGrp/PhoneNum03108731600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LIZBETH G NEVAREZ
ReturnHeader/ReturnTs02022-09-07T11:13:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WEINER
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,939,560
Liabilities
$95,781
Net assets
$1,843,779
Revenue
$4,941,400
Expenses
$3,097,621
Net income
$1,843,779
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.42$2.98$1.56$13.9$13.3$0.61
2023Detailed filing. Detailed filing data is available for this year.$3.32$5.49$2.17$10.7$13.6$2.92
2022Detailed filing. Detailed filing data is available for this year.$1.69$0.94$0.75$4.90$5.99$1.10
2021Detailed filing. Detailed filing data is available for this year.$1.94$0.10$1.84$4.94$3.10$1.84
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$3.43$3.43$0.00