City Fund
- Assets
- $108.7m
- Revenue
- $55.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Beaverton, OR
- Founding
- 09/2018
- Data as of
- 06/2023
- EIN
- 82-4938743
Organization Overview
City Fund is located in Beaverton, OR. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City Fund 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 06/2023, City Fund generated $55.4m 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 (6.8%) each year. All expenses for the organization totaled $55.4m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, City Fund has awarded 236 individual grants totaling $250,442,249. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT CITY-BASED NON-PROFIT ORGANIZATIONS IN THEIR EFFORTS TO IMPROVE PUBLIC EDUCATION OUTCOMES FOR LOCAL CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TODAY, OUR EDUCATIONAL SYSTEM WORKS WELL FOR FAR TOO FEW CHILDREN IN THE UNITED STATES, ESPECIALLY MINORITY AND LOW-INCOME CHILDREN. THIS FAILURE NOT ONLY DEPRIVES MILLIONS OF CHILDREN OF A LEGITIMATE PATHWAY TO PURSUE GAINFUL EMPLOYMENT AND A PURPOSE-FILLED LIFE, BUT IT IS ALSO A THREAT TO THE WELLBEING OF OUR NATION.TO ADDRESS THESE SYSTEMIC CHALLENGES, CITY FUND INVESTS IN AND SUPPORTS CITY-BASED NONPROFIT ORGANIZATIONS DEDICATED TO INCREASING THE NUMBER OF HIGH-QUALITY PUBLIC SCHOOLS IN THEIR CITIES AND OTHERWISE IMPROVING OUTCOMES FOR LOW-INCOME AND DISADVANTAGED CHILDREN. CITY FUND SUPPORTS NONPROFITS THAT SHARE ITS MISSION IN THREE CORE WAYS: ADVISING; FUNDING; AND CONVENING.ADVISING: CITY FUND PROVIDES ADVISING AND COACHING SUPPORT TO THE LEADERS OF CITY-BASED NONPROFIT ORGANIZATIONS AIMING TO IMPROVE PUBLIC SCHOOL OUTCOMES. CITY FUND FOCUSES ITS ADVISING EFFORTS ON CITY-BASED NON-PROFIT ORGANIZATIONS THAT ARE PLAYING A KEY LEADERSHIP ROLE INVESTING IN THE CREATION OF NEW, HIGH-QUALITY PUBLIC SCHOOLS, FUNDING AND DEVELOPING EDUCATOR TALENT PIPELINES, ENGAGING THEIR COMMUNITY, AND SUPPORTING EDUCATION POLICY IMPROVEMENTS.FUNDING: CITY FUND PROVIDES FUNDING TO CITY-BASED NONPROFIT ORGANIZATIONS FOCUSED ON IMPROVING PUBLIC SCHOOLS. THROUGH THIS GRANTMAKING, CITY FUND MAKES STRATEGIC INVESTMENTS IN THE MOST EFFECTIVE, HIGH-IMPACT, OR PROMISING ORGANIZATIONS WORKING ON THE DEVELOPMENT AND GROWTH OF HIGH-QUALITY PUBLIC SCHOOLS AND AFFILIATED EDUCATIONAL PROGRAMMING FOR DISADVANTAGED CHILDREN.CONVENING: CITY FUND ALSO CONVENES CITY-BASED EDUCATION NONPROFIT LEADERS AND OTHER KEY STAKEHOLDERS IN COMMUNITIES OF PRACTICE TO FACILITATE PEER-TO-PEER LEARNING. THESE EVENTS BRING NONPROFIT LEADERS, FUNDERS, AND OTHER STAKEHOLDERS TOGETHER TO LEARN ABOUT DIFFERENT APPROACHES TO IMPROVING PUBLIC EDUCATION. THE CONVENINGS CONSIST OF CONFERENCES, WORKING GROUP MEETINGS, AND OTHER IN-PERSON MEETINGS ACROSS THE COUNTRY. THE PURPOSE OF ALL CONVENINGS IS TO UNITE THOSE WORKING TO IMPROVE OUTCOMES FOR LOW-INCOME AND OTHER DISADVANTAGED CHILDREN IN ORDER TO SHARE BEST PRACTICES AND NEW INSIGHTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neerav Kingsland Managing Partner - Until 12/2022 | OfficerTrustee | 33 | $464,183 |
John Arnold Chair | OfficerTrustee | 1 | $0 |
Reed Hastings Treasurer | OfficerTrustee | 1 | $0 |
Elisa Villaneuva Beard Director | Trustee | 1 | $0 |
Romy Drucker Director | Trustee | 1 | $0 |
Kevin Shafer President - As Of 9/2022 | Officer | 37 | $393,804 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kitamba Mgt Llc Consulting | 6/29/23 | $855,765 |
Public Opinion Strategies Consulting | 6/29/23 | $587,500 |
Education Analytics Inc Consulting | 6/29/23 | $396,663 |
Mercury Public Affairs Llc Consulting | 6/29/23 | $350,000 |
Faegre Drinker Biddle & Reath Llp Legal | 6/29/23 | $300,974 |
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 | $53,333,333 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,333,333 |
| Total Program Service Revenue | $0 |
| Investment income | $2,071,997 |
| 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 | $55,405,330 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $41,499,000 |
| 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. | $1,246,191 |
| Compensation of current officers, directors, key employees. | $124,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,403,665 |
| Pension plan accruals and contributions | $171,862 |
| Other employee benefits | $650,815 |
| Payroll taxes | $275,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $417,327 |
| Fees for services: Accounting | $116,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,715,208 |
| Advertising and promotion | $0 |
| Office expenses | $647 |
| Information technology | $734,646 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $327,631 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $781,594 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $48,796 |
| All other expenses | $0 |
| Total functional expenses | $55,448,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,828 |
| Savings and temporary cash investments | $71,011,831 |
| Pledges and grants receivable | $12,500,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,459,036 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,204 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,574,599 |
| Total assets | $108,692,498 |
| Accounts payable and accrued expenses | $886,961 |
| Grants payable | $7,127,500 |
| 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 | $9,726,754 |
| Total liabilities | $17,741,215 |
| Net assets without donor restrictions | $90,951,283 |
| 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 | $108,692,498 |
Grants Awarded
Over the last fiscal year, City Fund has awarded $58,784,139 in support to 68 organizations.
| Grant Recipient | Amount |
|---|---|
THE MIND TRUST INC PURPOSE: TO SUPPORT GRANTEE'S COMMUNICATIONS CAPACITY, STAKEHOLDER ENGAGEMENT, AND STORYTELLING IN INDIANAPOLIS | $11,339,000 |
CITY EDUCATION PARTNERS PURPOSE: TO SUPPORT PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR ORGANIZATIONAL LEADERSHIP | $6,545,000 |
CAMDEN EDUCATION FUND INC PURPOSE: TO SUPPORT THE CREATION OF HIGH QUALITY SEATS, THE EXPANSION OF TEACHER TALENT, AND COMMUNITY ENGAGEMENT TO HELP FAMILIES CHOOSE THE BEST SCHOOLS FOR THEIR STUDENTS IN CAMDEN | $4,706,329 |
ROOTED PURPOSE: TO SUPPORT THE SUCCESSFUL MERGER OF CHARTER MANAGEMENT ORGANIZATIONS IN DENVER | $5,150,000 |
THE OPPORTUNITY TRUST PURPOSE: TO PROVIDE GENERAL SUPPORT FOR GRANTEE TO EXECUTE ON ITS ANNUAL GOALS | $4,050,000 |
NEW SCHOOLS FOR BATON ROUGE PURPOSE: TO INCREASE THE NUMBER OF HIGH-QUALITY EDUCATIONAL OPTIONS IN FT. WORTH | $3,950,000 |