Motley Fool Foundation
- Assets
- $12.3m
- Revenue
- $652.4k
- Investments
- $250.0k
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 02/2020
- Data as of
- 09/2023
- EIN
- 84-1970428
Organization Overview
Motley Fool Foundation is located in Alexandria, VA. The organization was established in 2020. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Motley Fool 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 09/2023, Motley Fool Foundation generated $652.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $2.4m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S VISION IS FINANCIAL FREEDOM FOR ALL WITH A PURPOSE TO FIND, FUND, AND AMPLIFY INNOVATIVE SOLUTIONS THAT ENABLE STRIVERS TO BECOME THRIVERS. THE FOUNDATION STRATEGICALLY DEPLOYS ITS ASSETS TO DRIVE INNOVATIVE INVESTMENTS, ENGAGEMENT, AWARENESS, AND SUSTAINABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PROGRAMS WERE FOCUSED ON ACHIEVING FINANCIAL FREEDOM FOR ALL. THE FOUNDATION BELIEVES THAT FIVE KEY DRIVERS ENABLE FINANCIAL FREEDOM FOR AMERICANS LIVING BETWEEN POVERTY AND WEALTH: EDUCATION, HEALTH, MONEY, WORK, AND HOUSING. THESE DRIVERS COMPRISE "THE SYSTEM, AND WHEN THEY WORK TOGETHER, PEOPLE ADVANCE FINANCIALLY. WHEN THEY DON'T, PEOPLE ARE LEFT BEHIND. OUR GOAL IS TO BREAK DOWN SILOS BETWEEN THESE DRIVERS AND THE BARRIERS HOLDING PEOPLE BACK. IT TAKES A SPECIAL KIND OF PERSON TO CREATE BREAKTHROUGHS, AND THE FOUNDATION IS WORKING TO FIND THEM, CONNECT THEM, LEARN FROM THEM, HELP THEM GO FURTHER AND FASTER WITH TARGETED INVESTMENTS, AND BY AMPLIFYING WHAT THEY DO. WE CALL THEM RULE BREAKERS. IN 2023, THE FOUNDATION CONTINUED TO INVEST IN INDIVIDUALS AND ORGANIZATIONS THAT IS IDENTIFIED AS "RULE BREAKERS". THESE RULE BREAKERS WORK ACROSS THE COUNTRY WITH THE UNBANKED AND UNDERBANKED, DEVELOPING BLACK RURAL ENTREPRENEURS, ACQUIRING AND PRESERVING AFFORDABLE HOUSING, INCREASING FINANCIAL FREEDOM FOR LOW-INCOME AND IMMIGRANT COMMUNITIES, GIVING SUPPORT TO UNDERREPRESENTED STUDENTS STRIVING FOR HIGHER EDUCATION, PROVIDING ENTREPRENEURSHIP TRAINING, DEVELOPING SUSTAINABLE TRANSPORTATION, AND PROVIDING ACCESS TO HEALTHY FOOD. THE GROUNDWORK WAS ALSO LAID TO FURTHER EXPAND THIS COHORT AND TO CONNECT THEM WITH EACH OTHER AND THE FOUNDATION'S COMMUNITIES.ADDITIONALLY, INFRASTRUCTURE WAS DEVELOPED TO FIND AND CONVENE A SET OF RULE BREAKERS AND COMMUNITY LEADERS IN ONE GEOGRAPHIC LOCATION TO DEVELOP SOLUTIONS ACROSS ALL FIVE DRIVERS TO PROVIDE EQUITABLE PATHWAYS TO FINANCIAL FREEDOM FOR AN ENTIRE POPULATION.
OTHER PROGRAM EXPENSES INCLUDED GENERAL AND ADMINISTRATIVE SUPPORT AND MARCOMM FOR EXISTING PROGRAMS, AND DEVELOPMENT EXPENSES FOR FUTURE PROGRAMS.
THE FOUNDATION MADE A NUMBER OF SMALL GRANTS TO OTHER 501C3 ORGANIZATIONS THAT WORK WITHIN THE FIVE DRIVERS OF FINANCIAL FREEDOM AND IN CONJUNCTION WITH FOUNDATION VOLUNTEER EFFORTS AND TIME SPENT WITH EACH GRANTEE.
THE FOUNDATION CREATED THE SPARKS LAB ON ITS WEBSITE AS A PLACE TO POST CONTENT THAT RELATES TO INSIGHTS AROUND THE FIVE DRIVERS OF FINANCIAL FREEDOM AND FOR USE AS A PLACE TO RESEARCH, EXPLORE, AND LEARN ABOUT THEM. PART OF THE CONTENT IS A VIDEO SERIES CONTAINING CONVERSATIONS WITH THE FOUNDATION RULE BREAKERS AND OTHERS WORKING IN THE DRIVERS. THE FOUNDATION ALSO USES THIS SITE TO SOLICIT IDEAS FOR FUTURE WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Gardner Chair | OfficerTrustee | 2 | $0 |
Ollen Douglass Finance Chair | Trustee | 1 | $0 |
Margaret Gardner Governance Chair | Trustee | 1 | $0 |
Elaine Hungenberg Board Member | Trustee | 1 | $0 |
Sean Milliken Board Member | Trustee | 1 | $0 |
Melissa Bradley Board Member (as Of 11/2022) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mellonaid Marcomm Management And Support | 9/29/23 | $354,252 |
Community Counseling Service Donor Advisory | 9/29/23 | $195,091 |
Michael Gardner Marketing | 9/29/23 | $140,500 |
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 | $337,022 |
| Noncash contributions included in lines 1a–1f | $82,580 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $337,022 |
| Total Program Service Revenue | $0 |
| Investment income | $287,769 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,608 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $652,399 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $180,740 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $5,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $802,032 |
| Compensation of current officers, directors, key employees. | $176,446 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,668 |
| Pension plan accruals and contributions | $10,863 |
| Other employee benefits | $41,952 |
| Payroll taxes | $61,731 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,982 |
| Fees for services: Accounting | $83,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,801 |
| Fees for services: Other | $638,072 |
| Advertising and promotion | $283,892 |
| Office expenses | $9,437 |
| Information technology | $117,588 |
| Royalties | $0 |
| Occupancy | $9,105 |
| Travel | $50,235 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,576 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,342 |
| Insurance | $9,240 |
| All other expenses | $0 |
| Total functional expenses | $2,449,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,442,382 |
| Pledges and grants receivable | $272,688 |
| 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 | $37,212 |
| Net Land, buildings, and equipment | $46,438 |
| Investments—publicly traded securities | $8,226,842 |
| Investments—other securities | $250,006 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,275,568 |
| Accounts payable and accrued expenses | $33,044 |
| 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 | $78,980 |
| Total liabilities | $112,024 |
| Net assets without donor restrictions | $11,890,856 |
| Net assets with donor restrictions | $272,688 |
| 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 | $12,275,568 |
Grants Awarded
Over the last fiscal year, Motley Fool Foundation has awarded $150,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BEYOND 12 EDUCATION INC PURPOSE: GENERAL OPERATING GRANT | $75,000 |
MILL COMMUNITY MINISTRIES DBA VILLAGE LAUNCH PURPOSE: GENERAL OPERATING GRANT | $75,000 |