Like all nonprofit organizations, grantmaking organizations enjoy the benefits of tax-exempt status and share in a responsibility to use their resources to support the public good. Individual foundation boards and the foundation community as a whole frequently evaluate their governance, grantmaking operations, and overall impact in their mission areas. In the past few years, there has been an increased interest from policy makers, the media and the general public who want to know if foundations are spending their financial resources wisely, often focusing on administrative costs as a measure of whether they are fulfilling the responsibility implied in their tax-exempt status.
One tool increasingly used to measure foundation performance is the Form 990-PF, which all private foundations are required to submit to the Internal Revenue Service (IRS). The Form 990-PF contains extensive details on a foundation’s operational expenses as well as grants. Administrative expenses, as defined by the IRS, include executive, board (if applicable), and staff compensation; pension and employee benefits; occupancy costs; professional, legal, and accounting fees; printing and publication costs; travel; taxes; and other expenses.
Our most recent 990-PF Tax Return explains Overbrook’s expenses and grantmaking.
Previous filings by The Overbrook Foundation are available on the GuideStar Website. Click here for GuideStar’s home page where you can set up a basic account that provides select information for free.