The Biden Foundation
- Assets
- $0.0
- Revenue
- $10.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 04/2016
- Data as of
- 12/2020
- EIN
- 81-1329470
Organization Overview
The Biden Foundation is located in Washington, DC. The organization was established in 2016. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biden Foundation 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 12/2020, Biden Foundation generated $10.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (68.6%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE BIDEN FOUNDATION CHAMPIONS PROGRESS AND PROSPERITY FOR AMERICAN FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BIDEN FOUNDATION SUSPENDED ACTIVITIES IN APRIL 2019. AS PART OF THE FINAL DISSOLUTION OF THE ORGANIZATION, THE FOUNDATION GRANTED THE BALANCE OF ITS FUNDS TO THE BEAU BIDEN FOUNDATION FOR THE PROTECTION OF CHILDREN FOR USE IN ITS PROGRAMMATIC ACTIVITIES.
THE BIDEN FOUNDATION SUSPENDED ACTIVITIES IN APRIL 2019. AS PART OF THE FINAL DISSOLUTION OF THE ORGANIZATION, THE FOUNDATION GRANTED THE BALANCE OF ITS FUNDS TO THE BEAU BIDEN FOUNDATION FOR THE PROTECTION OF CHILDREN FOR USE IN ITS PROGRAMMATIC ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valerie Biden Owens Vice Chair | OfficerTrustee | 1 | $0 |
Jeffrey Peck Vice Chair & Treasurer | OfficerTrustee | 1 | $0 |
Ted Kaufman Chair | OfficerTrustee | 1 | $0 |
Mark Angelson Vice Chair & Secretary | OfficerTrustee | 1 | $0 |
Mark Gitenstein President | OfficerTrustee | 1 | $0 |
Micaela Fernandez Allen Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perkins Coie Llp Legal | 12/30/18 | $120,000 |
Benjamin Harris Program Consulting | 12/30/18 | $152,900 |
Anthony R Bernal Program Consulting | 12/30/18 | $104,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $10,304 |
| 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 | $10,304 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,835,265 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $96,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,986 |
| Advertising and promotion | $0 |
| Office expenses | $2,292 |
| Information technology | $14,198 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $123,113 |
| All other expenses | $439 |
| Total functional expenses | $2,100,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, The Biden Foundation has awarded $380,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Raleigh, NC PURPOSE: support | $350,000 |
Silver Spring, MD PURPOSE: support | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Biden Foundation has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: ARTS & CULTURE | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navy Seal Foundation Inc Virginia Beach, VA | $115,540,390 | $24,207,052 |
Montpelier Foundation Orange, VA | $32,791,745 | $7,244,660 |
Society Of The Cincinnati Washington, DC | $28,928,587 | $7,746,929 |
American Civil War Museum Richmond, VA | $33,997,529 | $3,026,232 |
B & O Railroad Museum Baltimore, MD | $29,274,881 | $4,473,800 |
Baltimore Museum Of Industry Baltimore, MD | $4,041,463 | $2,097,519 |
Valentine Museum Richmond, VA | $31,520,182 | $4,443,441 |
George Washington Masonic National Memorial Association Inc Alexandria, VA | $22,574,581 | $2,980,400 |
National Womens History Museum Alexandria, VA | $1,422,250 | $2,958,832 |
The Biden Foundation Washington, DC | $0 | $10,304 |
Workhouse Arts Foundation Inc Lorton, VA | $5,026,678 | $2,307,119 |
National Railroad Construction & Maintenance Association Washington, DC | $2,507,599 | $2,060,078 |