Form 990, Part VI, Section B, Line 11B
“A copy of the 990 is provided to board members upon request.”
990 • Fiscal year 2020 • EIN 91-2145352
Scores are not available for this record yet.
Assets
Up$365,727
Up $108,205 (+42%) from 2019
Net Assets
Up$362,230
Up $106,005 (+41%) from 2019
Liabilities
Up$3,497
Up $2,200 (+170%) from 2019
Revenue
Up$204,033
Up $45,300 (+29%) from 2019
Expenses
Up$96,646
Up $49,834 (+106%) from 2019
Net Income
Down$107,387
Down $4,534 (-4.1%) from 2019
The foundation provides grants for the benefit of academic professionals engaged in serious, scholarly work based on the philosophy and writings of ayn rand, and provides resources to others in academia interested in understanding her ideas.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | - | $363,259 | - |
| Accounts Receivable | $145,704 | $0 | ▼ $145,704 |
| Cash and Non-Interest-Bearing Accounts | $111,818 | $2,468 | ▼ $109,350 |
| Total Assets | $257,522 | $365,727 | ▲ $108,205 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $1,297 | $2,200 | ▲ $903 |
| Other Liabilities | $0 | $1,297 | ▲ $1,297 |
| Total Liabilities | $1,297 | $3,497 | ▲ $2,200 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $256,225 | $362,230 | ▲ $106,005 |
| Total Net Assets Fund Balance | $256,225 | $362,230 | ▲ $106,005 |
| Total Liabilities and Net Assets / Fund Balance | $257,522 | $365,727 | ▲ $108,205 |
| Name | Title | Full / Part Time | Other | Total |
|---|---|---|---|---|
| Maria Torre | Treasurer | PT | $96,115 | $96,115 |
| Name | Title |
|---|---|
| Tal Tsfany | President |
| Edwin Locke | Director |
| Evan Picoult | Director |
| Onkar Ghate | Director |
| Robert Mayhew | Director |
| Yaron Brook | Director |
| Jeffrey Scialabba | Secretary |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $84,989 |
| Other Expenses | $11,657 |
| Total Fundraising Expense | $2,816 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Individuals | $50,822 | - | - | $50,822 |
| Grants to Domestic Orgs | $34,167 | - | - | $34,167 |
| Fees for Services Accounting | $5,293 | $2,646 | $2,646 | $10,585 |
| Fees for Services Legal | $340 | $170 | $170 | $680 |
| Office Expenses | - | $392 | - | $392 |
| Total Functional Expenses | $90,622 | $3,208 | $2,816 | $96,646 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Seton Hall University | South Orange, NJ | 501(c)(3) | To Promote the Study of Objectivism | - |
| University of Texas | Austin, TX | - | Establishment of Department for Objectivism. | - |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Due to Affiliate | $1,297 |
“A copy of the 990 is provided to board members upon request.”
“Form 990, governing documents, policies and financial statements are provided upon request.”
“Form 990, governing documents, policies and financial statements are provided upon request.”
“Financial data was changed based on an independent accountant's review report.”
“The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and is not classified as a private foundation under section 509(a) of the internal revenue code. Accordingly, no provision for income taxes has been made in the financial statements. The foundation annually evaluates tax positions as part of the preparation of its exempt tax return. This process includes an analysis of whether tax positions the foundation takes with regard to a particular item of income or deduction would meet the definition of an uncertain tax position under current accounting guidance. At september 30, 2020, the foundation did not have any unrecognized tax benefits. The foundation is no longer subject to federal, state, or local income tax examinations by tax authorities for years before 2016.”
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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|---|---|---|
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| IRS990/ActivityOrMissionDesc | 0 | THE FOUNDATION PROVIDES GRANTS FOR THE BENEFIT OF ACADEMIC PROFESSIONALS ENGAGED IN SERIOUS, SCHOLARLY WORK BASED ON THE PHILOSOPHY AND WRITINGS OF AYN RAND, AND PROVIDES RESOURCES TO OTHERS IN ACADEMIA INTERESTED IN UNDERSTANDING HER IDEAS. |
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| IRS990/Desc | 0 | FELLOWSHIPS & MULTI-YEAR GIFTS: THE FOUNDATION PROVIDES FELLOWSHIPS AND GRANTS TO UNIVERSITIES, TO PROMOTE THE STUDY OF OBJECTIVISM. |
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| IRS990/MissionDesc | 0 | THE FOUNDATION PROVIDES GRANTS FOR THE BENEFIT OF ACADEMIC PROFESSIONALS ENGAGED IN SERIOUS, SCHOLARLY WORK BASED ON THE PHILOSOPHY AND WRITINGS OF AYN RAND, AND PROVIDES RESOURCES TO OTHERS IN ACADEMIA INTERESTED IN UNDERSTANDING HER IDEAS. |
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| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO SUPPORT AND OPERATE FOR THE EXCLUSIVE BENEFIT OF THE AYN RAND INSTITUTE AND ONE OR MORE COLLEGES OR UNIVERSITIES DESCRIBED IN SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE OF 1986. |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO AFFILIATE |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS NOT CLASSIFIED AS A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. THE FOUNDATION ANNUALLY EVALUATES TAX POSITIONS AS PART OF THE PREPARATION OF ITS EXEMPT TAX RETURN. THIS PROCESS INCLUDES AN ANALYSIS OF WHETHER TAX POSITIONS THE FOUNDATION TAKES WITH REGARD TO A PARTICULAR ITEM OF INCOME OR DEDUCTION WOULD MEET THE DEFINITION OF AN UNCERTAIN TAX POSITION UNDER CURRENT ACCOUNTING GUIDANCE. AT SEPTEMBER 30, 2020, THE FOUNDATION DID NOT HAVE ANY UNRECOGNIZED TAX BENEFITS. THE FOUNDATION IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2016. |
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| IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt | 1 | 30000 |
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| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 1 | ESTABLISHMENT OF DEPARTMENT FOR OBJECTIVISM. |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | A COPY OF THE 990 IS PROVIDED TO BOARD MEMBERS UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | FORM 990, GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | FORM 990, GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | FINANCIAL DATA WAS CHANGED BASED ON AN INDEPENDENT ACCOUNTANT'S REVIEW REPORT. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION C, LINE 18 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 1, HEADING, ITEM B |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | THE AYN RAND INSTITUTE THE CENTER FOR THE ADVANCEMENT OF OBJECTIVISM |
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| IRS990/SchoolOperatingInd | 0 | 0 |
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Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.