Civic Intelligence

Ares Charitable Foundation

990 • Fiscal year 2022 • EIN 84-3666714

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 11, 2023

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

86th percentile

0.56x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

65th percentile

0.19x

Higher debt load relative to revenue than 65% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

15th percentile

-13%

Faster asset growth than 15% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

-0.9%

Faster revenue growth than 38% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,689,267

Down $250,293 (-13%) from 2021

Net Assets

Down

$746,545

Down $1,097,234 (-60%) from 2021

Liabilities

Up

$942,722

Up $846,941 (+884%) from 2021

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin13th percentile

Revenue

Down

$4,895,656

Down $45,744 (-0.9%) from 2021

Expenses

Up

$5,992,890

Up $2,895,269 (+93%) from 2021

Net Income

Down

-$1,097,234

Down $2,941,013 (-160%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

2022

Assets$1,689,267
Liabilities$942,722
Net Assets$746,545
Open 2022 Filing

Operations Trend

Revenue Growth38th 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

2022

Revenue$4,895,656
Expenses$5,992,890
Net Income-$1,097,234
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 11, 2023
Return Version
2022v5.0
Gross Receipts
$4,943,236
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$1,492,134▼ $280,041
Pledges and Grants Receivable$18,425$106,376▲ $87,951
Prepaid Expenses and Deferred Charges-$16,667-
Savings and Temporary Cash Investments$148,960$221▼ $148,739
Total Assets$1,939,560$1,689,267▼ $250,293
Other Assets Total$0$73,869▲ $73,869
Liabilities
Grants Payable-$787,563-
Accounts Payable and Accrued Expenses$95,781$155,159▲ $59,378
Total Liabilities$95,781$942,722▲ $846,941
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,843,779$746,545▼ $1,097,234
Total Net Assets Fund Balance$1,843,779$746,545▼ $1,097,234
Total Liabilities and Net Assets / Fund Balance$1,939,560$1,689,267▼ $250,293
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$4,896,009
Program Service Revenue
$0
Investment Income
$-353
Other Revenue
$0
All Other Contributions
$4,896,009
Change in Net Assets
$-1,097,234

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 Traded3$47,580Fair Market Value (FMV)
Total Noncash Contributions3$47,580-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,896,009
Revenue Not Reported on Financial Statements
$-353
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-353
Total Revenue per Audited Statements
$4,896,009
Total Revenue per Form 990
$4,895,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,925,757
Other Expenses$1,067,133
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,925,757--$4,925,757
Fees for Services Other$1,016,164--$1,016,164
Fees for Services Accounting-$15,000-$15,000
Fees for Services Legal-$13,535-$13,535
Travel-$3,130-$3,130
Other Expenses-$1,240-$1,240
Office Expenses-$175-$175
Total Functional Expenses$5,941,921$50,969$0$5,992,890

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,993,243
Expenses per Audited Statements$5,992,890
Total Expenses per Form 990$5,992,890
Expenses Not Reported on Form 990$353
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Jobs for the FutureBoston, MA, Sn501(c)(3)Help Individuals Prepare for Climate-resilient Jobs in the U.s. as Well as Identify Leading Training Providers, Organizations and Best Practices to Design Pathways to Those Career Opportunities.$1,813,950
Alt Finance CorporationCulver City, CA501(c)(3)Support Programs for Students and Graduates of Historically Black Colleges and Universities$1,500,000
World Resources InstituteWashington, DC501(c)(3)Help Build the Resilience of Indias Micro, Small and Medium Enterprises (msmes) in Two States to Future-proof Their Business Models Within a Changing Climate.$456,322
Civic VenturesSan Francisco, CA501(c)(3)Help Design and Implement the Framework for the Cogenerate Challenge (the Challenge), a Program That Will Elevate the Need and Opportunity for Intergenerational Teams of Entrepreneurs to Help Problem-solve Some of Societys$350,000
DotorgNew York, NY501(c)(3)Help Execute a Personal Finance Demonstration Project for Low-income Women.$212,563
Ownership WorksNew York, NY501(c)(3)Educate Individuals, Employees and Companies About the Economic and Other Benefits of Nroad-based Employee Ownership of Businesses and Methods of Adopting Employee Ownership Programs by Reseraching, Developing and Conducting Educational Activities$200,000
Common Denominatortop HonorsAtlanta, GA501(c)(3)Help Integrate Personal Finance Lessons Into Its Curriculum for Middle School Students in Grades 5 Through 8, Develop Digital Games So That Students Can Apply This Knowledge Through Hands-on Learning and Deliver a Series of Personal Finance Seminars to Help Parents Make Smart Financial Decisions That Help Empower Their Family$175,000
Cooperative for Assistance and Relief Everywhere (care)Oakland, CA501(c)(3)Help Build the Care Economy in Accord With the 5rs Recognition, Reduction, Redistribution, Representation and Reward for What Is Traditionally Unpaid Care Work.$117,922
Pacific Community VenturesNew York, NY501(c)(3)Help Establish Its Good Jobs Innovation Lab to Develop and Disseminate Knowledge Products as Well as Pilot Data-driven Interventions to Improve Job Quality in Small Businesses, Especially Those Operated by Underestimated Owners in Economically Distressed Communities.$50,000
Strive International-501(c)(3)Help Enhance Its Flagship Career Path Program That Includes Its Womens Empowerment Initiative (wei) So Women Living Below the Poverty Line in Atlanta, Georgia and New York, New York Can Increase Their Employability and Strengthen Their Financial Skills.$50,000
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

“The form 990 is reviewed and signed by board secretary and audit committee member.”

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

“The ares foundation's conflict of interest policy requires the accurate completion of a questionnaire on an annual basis by board directors and committee members. The questionnaire is 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 the 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
2023-11-11
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
55

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

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting fees: program service expenses 1,016,164. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,016,164.”

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, 2022, 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.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“REVENUE RECLASS -353.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“REVENUE RECLASS 353.”

Raw XML AppendixShowing 400 of 483 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/ProgSrvcAccomActy2Grp/Desc0ALTFINANCE: INVESTING IN BLACK FUTURES". THE INITIATIVE IS DESIGNED TO DIVERSIFY THE ALTERNATIVE INVESTMENT INDUSTRY BY ATTRACTING, TRAINING AND PROVIDING CAREER OPPORTUNITIES FOR COLLEGE STUDENTS ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES. THE INITIATIVE HAS THREE PRIMARY COMPONENTS: A MENTORED FELLOWSHIP PROGRAM, A TAILORED VIRTUAL INSTITUTE AND A SCHOLARSHIP PROGRAM.
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IRS990/ProgSrvcAccomActy3Grp/Desc0WRI: THE INITIATIVE IS DESIGNED TO HELP BUILD THE RESILIENCE OF INDIA'S MICRO, SMALL AND MEDIUM ENTERPRISES ("MSMES") IN TWO STATES TO FUTURE-PROOF THEIR BUSINESS MODELS WITHIN A CHANGING CLIMATE.
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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt03000000
IRS990/PYInvestmentIncomeAmt0448
IRS990/PYOtherExpensesAmt097621
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01843779
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt03097621
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04941400
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1097234
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0148960
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0221
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04896009
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04940952
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03430000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt013266961
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0189
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0189
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt03013676
IRS990ScheduleA/SubstantialContributorsTotAmt010253285
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt04896009
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt04940952
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03430000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt013266961
IRS990ScheduleA/TotalSupportAmt013267150
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt0353
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05992890
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt0353
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-353
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-353
IRS990ScheduleD/RevenueSubtotalAmt04896009
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ARES 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, 2022, 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REVENUE RECLASS -353.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2REVENUE RECLASS 353.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt05992890
IRS990ScheduleD/TotalRevenuePerForm990Amt04895656
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04896009
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05993243
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt01813950
IRS990ScheduleI/RecipientTable/CashGrantAmt11500000
IRS990ScheduleI/RecipientTable/CashGrantAmt2456322
IRS990ScheduleI/RecipientTable/CashGrantAmt3350000
IRS990ScheduleI/RecipientTable/CashGrantAmt4212563
IRS990ScheduleI/RecipientTable/CashGrantAmt5200000
IRS990ScheduleI/RecipientTable/CashGrantAmt6175000
IRS990ScheduleI/RecipientTable/CashGrantAmt7117922
IRS990ScheduleI/RecipientTable/CashGrantAmt850000
IRS990ScheduleI/RecipientTable/CashGrantAmt950000
IRS990ScheduleI/RecipientTable/ForeignAddress/AddressLine1Txt021 BEDOK NORTH STREET
IRS990ScheduleI/RecipientTable/ForeignAddress/CityNm0BEDOK TOWN
IRS990ScheduleI/RecipientTable/ForeignAddress/CountryCd0SN
IRS990ScheduleI/RecipientTable/ForeignAddress/ForeignPostalCd0469659
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc7501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc8501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc9501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt60
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt70
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt80
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt90
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0HELP INDIVIDUALS PREPARE FOR CLIMATE-RESILIENT JOBS IN THE U.S. AS WELL AS IDENTIFY LEADING TRAINING PROVIDERS, ORGANIZATIONS AND BEST PRACTICES TO DESIGN PATHWAYS TO THOSE CAREER OPPORTUNITIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2HELP BUILD THE RESILIENCE OF INDIAS MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) IN TWO STATES TO FUTURE-PROOF THEIR BUSINESS MODELS WITHIN A CHANGING CLIMATE.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3HELP DESIGN AND IMPLEMENT THE FRAMEWORK FOR THE COGENERATE CHALLENGE (THE CHALLENGE), A PROGRAM THAT WILL ELEVATE THE NEED AND OPPORTUNITY FOR INTERGENERATIONAL TEAMS OF ENTREPRENEURS TO HELP PROBLEM-SOLVE SOME OF SOCIETYS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4HELP EXECUTE A PERSONAL FINANCE DEMONSTRATION PROJECT FOR LOW-INCOME WOMEN.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5EDUCATE INDIVIDUALS, EMPLOYEES AND COMPANIES ABOUT THE ECONOMIC AND OTHER BENEFITS OF NROAD-BASED EMPLOYEE OWNERSHIP OF BUSINESSES AND METHODS OF ADOPTING EMPLOYEE OWNERSHIP PROGRAMS BY RESERACHING, DEVELOPING AND CONDUCTING EDUCATIONAL ACTIVITIES
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6HELP INTEGRATE PERSONAL FINANCE LESSONS INTO ITS CURRICULUM FOR MIDDLE SCHOOL STUDENTS IN GRADES 5 THROUGH 8, DEVELOP DIGITAL GAMES SO THAT STUDENTS CAN APPLY THIS KNOWLEDGE THROUGH HANDS-ON LEARNING AND DELIVER A SERIES OF PERSONAL FINANCE SEMINARS TO HELP PARENTS MAKE SMART FINANCIAL DECISIONS THAT HELP EMPOWER THEIR FAMILY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7HELP BUILD THE CARE ECONOMY IN ACCORD WITH THE 5RS RECOGNITION, REDUCTION, REDISTRIBUTION, REPRESENTATION AND REWARD FOR WHAT IS TRADITIONALLY UNPAID CARE WORK.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8HELP ESTABLISH ITS GOOD JOBS INNOVATION LAB TO DEVELOP AND DISSEMINATE KNOWLEDGE PRODUCTS AS WELL AS PILOT DATA-DRIVEN INTERVENTIONS TO IMPROVE JOB QUALITY IN SMALL BUSINESSES, ESPECIALLY THOSE OPERATED BY UNDERESTIMATED OWNERS IN ECONOMICALLY DISTRESSED COMMUNITIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9HELP ENHANCE ITS FLAGSHIP CAREER PATH PROGRAM THAT INCLUDES ITS WOMENS EMPOWERMENT INITIATIVE (WEI) SO WOMEN LIVING BELOW THE POVERTY LINE IN ATLANTA, GEORGIA AND NEW YORK, NEW YORK CAN INCREASE THEIR EMPLOYABILITY AND STRENGTHEN THEIR FINANCIAL SKILLS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0JOBS FOR THE FUTURE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ALT FINANCE CORPORATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2WORLD RESOURCES INSTITUTE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3CIVIC VENTURES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4DOTORG
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5OWNERSHIP WORKS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6COMMON DENOMINATORTOP HONORS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7COOPERATIVE FOR ASSISTANCE AND RELIEF EVERYWHERE (CARE)
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8PACIFIC COMMUNITY VENTURES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9STRIVE INTERNATIONAL
IRS990ScheduleI/RecipientTable/RecipientEIN0061164568
IRS990ScheduleI/RecipientTable/RecipientEIN1863974526
IRS990ScheduleI/RecipientTable/RecipientEIN2521257057
IRS990ScheduleI/RecipientTable/RecipientEIN3943274339
IRS990ScheduleI/RecipientTable/RecipientEIN4862054001
IRS990ScheduleI/RecipientTable/RecipientEIN5753062601
IRS990ScheduleI/RecipientTable/RecipientEIN6131685039
IRS990ScheduleI/RecipientTable/RecipientEIN7770485877
IRS990ScheduleI/RecipientTable/RecipientEIN8133255679
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt050 MILK STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1800 CORPORATE POINTE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt210 G STREET NE SUITE 800
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO BOX 29542
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt452 WEST 11TH STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5PO BOX 2009
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6151 ELLIS STREET NE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt71714 FRANKLIN STREET SUITE 100-347
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt8205 E 122ND STREET 3RD FLOOR
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1CULVER CITY
IRS990ScheduleI/RecipientTable/USAddress/CityNm2WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm3SAN FRANCISCO
IRS990ScheduleI/RecipientTable/USAddress/CityNm4NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm5NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm6ATLANTA
IRS990ScheduleI/RecipientTable/USAddress/CityNm7OAKLAND
IRS990ScheduleI/RecipientTable/USAddress/CityNm8NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1CA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2DC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3CA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6GA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd7CA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd8NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002110
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd190230
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd220002
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd394129
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd410011
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd510163
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd630303
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd794612
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd810035
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. THE BOARD CAN APPROVE GRANTS OVER $500K. SIGNATURE GRANTS: "STAFF" CAN RECOMMEND MULTIYEAR, MULTIMILLION DOLLAR INITIATIVES (E.G., ALTFINANCE) TO THE BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt010
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt03
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FMV
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt047580
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0NONCASH CONTRIBUTIONS ARE LISTED BY NUMBER OF CONTRIBUTORS.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED AND SIGNED BY BOARD SECRETARY AND AUDIT COMMITTEE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ARES FOUNDATION'S CONFLICT OF INTEREST POLICY REQUIRES THE ACCURATE COMPLETION OF A QUESTIONNAIRE ON AN ANNUAL BASIS BY BOARD DIRECTORS AND COMMITTEE MEMBERS. THE QUESTIONNAIRE IS 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 THE 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/ExplanationTxt4CONSULTING FEES: PROGRAM SERVICE EXPENSES 1,016,164. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,016,164.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/StatesWhereCopyOfReturnIsFldCd1NY
IRS990/StatesWhereCopyOfReturnIsFldCd2FL
IRS990/StatesWhereCopyOfReturnIsFldCd3GA
IRS990/StatesWhereCopyOfReturnIsFldCd4CT
IRS990/StatesWhereCopyOfReturnIsFldCd5CO
IRS990/StatesWhereCopyOfReturnIsFldCd6MD
IRS990/StatesWhereCopyOfReturnIsFldCd7VA
IRS990/StatesWhereCopyOfReturnIsFldCd8NJ
IRS990/StatesWhereCopyOfReturnIsFldCd9IL
IRS990/StatesWhereCopyOfReturnIsFldCd10MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,689,267
Liabilities
$942,722
Net assets
$746,545
Revenue
$4,895,656
Expenses
$5,992,890
Net income
-$1,097,234
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
Peer Organizations

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