X Prize Foundation Inc
- Assets
- $103.7m
- Revenue
- $19.8m
- Investments
- $68.6m
- Employees
- 101
- Location
- Culver City, CA
- Founding
- 06/1999
- Data as of
- 12/2021
- EIN
- 52-1876879
Organization Overview
X Prize Foundation Inc is located in Culver City, CA. The organization was established in 1999. According to its NTEE Classification (W70) the organization is classified as: Leadership Development, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, X Prize Foundation Inc employed 101 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. X Prize Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, X Prize Foundation Inc generated $19.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $23.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING ABOUT RADICAL BREAKTHROUGHS FOR THE BENEFITS OF HUMANITY, THEREBY INSPIRING THE FORMATION OF NEW INDUSTRIES AND THE REVITALIZATION OF MARKETS
Describe the Organization's Program Activity:
X PRIZE FOUNDATION, INC. ("X PRIZE") IS A NOT-FOR-PROFIT 501(C)(3) DELAWARE CORPORATION FOSTERING AND SPONSORING COMPETITION TO CREATE INNOVATIVE BREAKTHROUGHS FOR THE BENEFIT OF HUMANITY. THE FOUNDATION CONDUCTS COMPETITIONS IN SEVEN PRIZE GROUPS: LEARNING & HUMAN POTENTIAL, ENERGY & RESOURCES; SPACE & NEW FRONTIERS; CIVIL SOCIETY; HEALTH & WELLNESS; PLANET & ENVIRONMENT; AND SHELTER & INFRASTRUCTURE.
THE FOUNDATION PROVIDES AND OPERATES EDUCATION AND OUTREACH PROGRAMS RELATED TO ITS MISSION. THESE ACTIVITIES CONSIST OF SPEECHES, VISUAL PRESENTATIONS AND EDUCATIONAL MATERIALS IN PARTNERSHIP WITH KEY ACADEMIC INSTITUTIONS, AS WELL AS RESEARCH AND PUBLICATION OF INFORMATION IN THE GENERAL PUBLIC INTEREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anousheh Ansari Chief Executive Officer | OfficerTrustee | 40 | $774,327 |
Jay Kossifos Chief Marketing Officer | Officer | 40 | $332,890 |
Amir Banifatemi Chief Strategy Officer | Officer | 40 | $304,674 |
Chanda Gonzalez-Mowrer Chief Prize Officer | Officer | 40 | $293,734 |
Zenia Tata Chief Impact Officer | Officer | 40 | $286,404 |
Ose Ugochukwu General Counsel | Officer | 40 | $237,335 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Full Picture Llc Marketing & Mgmt Services | 12/30/21 | $261,515 |
Expo Convention Contractors Inc Event Production Services | 12/30/21 | $251,136 |
James L Knight Center Event Location Expense | 12/30/21 | $224,610 |
Kraft Consulting | 12/30/21 | $195,000 |
Mas Event Design Event Production Services | 12/30/21 | $183,337 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,820,496 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,027,486 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,847,982 |
| Total Program Service Revenue | $0 |
| Investment income | $305,896 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,767,291 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,207,359 |
| Compensation of current officers, directors, key employees. | $1,081,808 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,572,158 |
| Pension plan accruals and contributions | $44,347 |
| Other employee benefits | $1,553,570 |
| Payroll taxes | $713,481 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $136,662 |
| Fees for services: Accounting | $84,071 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,623,767 |
| Advertising and promotion | $2,685,882 |
| Office expenses | $94,766 |
| Information technology | $498,078 |
| Royalties | $0 |
| Occupancy | $1,349,613 |
| Travel | $393,702 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,333 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $391,513 |
| Insurance | $98,196 |
| All other expenses | $138,478 |
| Total functional expenses | $23,441,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,992,923 |
| Savings and temporary cash investments | $5,120,822 |
| Pledges and grants receivable | $1,774,851 |
| Accounts receivable, net | $360,208 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,689 |
| Prepaid expenses and deferred charges | $179,080 |
| Net Land, buildings, and equipment | $112,319 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $68,579,717 |
| Investments—program-related | $0 |
| Intangible assets | $8,389 |
| Other assets | $523,145 |
| Total assets | $103,691,143 |
| Accounts payable and accrued expenses | $3,844,833 |
| Grants payable | $0 |
| Deferred revenue | $8,020,921 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $59,177,047 |
| Total liabilities | $71,042,801 |
| Net assets without donor restrictions | $6,176,000 |
| Net assets with donor restrictions | $26,472,342 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $103,691,143 |
Grants Awarded
Over the last fiscal year, X Prize Foundation Inc has awarded $55,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Manchester, NH PURPOSE: 2017 FIRST GLOBAL INNOVATION AWARD SPONSORSHIP | $25,000 |
Dallas, TX PURPOSE: 08-2017 YPO SPONSORSHIP | $25,000 |
ICV EVENTS LLC PURPOSE: ICV EVENTS | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that X Prize Foundation Inc has recieved totaling $59,884,133.
| Awarding Organization | Amount |
|---|---|
Musk Foundation Austin, TX PURPOSE: SUPPORT TECHNOLOGICAL DEVELOPMENT FOR CARBON REMOVAL | $54,000,000 |
Alana Usa Foundation Inc New York, NY PURPOSE: TO SPONSOR A COMPETITION THROUGH XPRIZE FOUNDATION TO ENHANCE THE UNDERSTANDING OF TROPICAL RAINFORESTS AROUND THE WORLD BY INCENTIVIZING INTERDISCIPLINARY TEAMS TO INNOVATE RAPID AND AUTONOMOUS SOLUTIONS TO EXPEDITE THE MONITORING OF BIODIVERSITY. | $3,000,000 |
New Profit Inc Boston, MA PURPOSE: PRIZE AWARD | $2,400,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $300,000 |
Elbaz Family Foundation Tr Beverly Hills, CA PURPOSE: TO BRING ABOUT RADICAL BREAKTHROUGHS FOR THE BENEFIT OF HUMANITY. | $75,000 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
X Prize Foundation Inc Culver City, CA | $103,691,143 | $19,767,291 |
The Silicon Valley Leadership Group San Jose, CA | $2,543,917 | $5,464,821 |
Womens Economic Ventures Santa Barbara, CA | $6,923,998 | $3,164,689 |
Servant Partners Inc Pomona, CA | $2,786,122 | $3,584,340 |
Coro Northern California Inc San Francisco, CA | $5,285,629 | $5,565,870 |
Search Inside Yourself Leadership Institute San Francisco, CA | $1,133,010 | $2,916,098 |
Greater Phoenix Leadership Inc Phoenix, AZ | $3,109,193 | $2,958,052 |
Great Minds In Stem Los Angeles, CA | $3,658,406 | $2,728,420 |
Capaces Leadership Institute Woodburn, OR | $1,447,498 | $2,526,401 |
Be A Leader Foundation Phoenix, AZ | $3,748,674 | $2,907,092 |
Arizona Trail Association Tucson, AZ | $690,016 | $1,173,659 |
Coro Southern California Inc Los Angeles, CA | $3,377,482 | $1,821,827 |