1803 Fund
Nonprofit profile at a glance
- EIN
- 922585176
- IRS 990 coverage
- 2023–2025
- Forms available
- Form 990 2025
- Location
- Portland, OR, USA
- Phone
- 5032949246
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $55,561,525
- Expenses
- $21,822,844
- Assets
- $49,551,036
- Liabilities
- $8,739,323
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- RUKAIYAH ADAMS (CEO/SECRETARY)
Highest reported compensation
- RUKAIYAH ADAMS (CEO/SECRETARY): $648,897 total reported compensation
- D'ARTAGNAN CALIMAN (VP, PARTNERSHIPS): $286,803 total reported compensation
- CYREENA BOSTON ASHBY (VP, EXTERNAL AFFAIRS): $246,259 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To establish a resilient financial ecosystem that supports the long-term well-being of portland's black community by investing in education, preserving cultural heritage and fostering community via long-term grant funding, partnerships and investments.
What it reported doing in 2025
In 2025, the 1803 real estate team accomplished the following:1. Refined the 1803 fund's 'rebuild albina' strategy to focus on direct real estate investment in historic albina2. Formulated real estate investment framework and future acquisition pipeline3. Entered into agreement to acquire three properties in lower albina including two cornerstone parcels comprising over 6 acres4. Provided $5m mezzanine loan to albina vision trust to enable purchase and affordable housing repositioning of historic paramount apartments 5. Entered into negotiations on 3 additional properties in lower albina6. Began remediation, zoning and master planning pre-development work on 2 cornerstone properties
Operating model
- Revenue model
- Donor-supported. 99% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 76% of its reported program spending out as grants.
The verdict
SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 51
- Transparency & Controls: 88
- Accountability: 81
- Sustainability: 69
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 36.9%; rating input score 37
- Program expense ratio: 92.4%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 18th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 97.5%; rating input score 97; 38th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 66.7%; rating input score 67; 10th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 60.7%; rating input score 94; 94th percentile among comparable filings
- Total-asset coverage ratio: 2.27; rating input score 55; 55th percentile among comparable filings
- Liabilities to assets ratio: 0.18; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 8.2%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 84.2% per year; rating input score 100; 99th percentile among comparable filings
- Revenue growth: 106.9% per year; rating input score 100; 99th percentile among comparable filings
- Asset growth: 103.1% per year; rating input score 100; 99th percentile among comparable filings
Details
- Where the money goes: 36.9% of revenue deployed · 92.4% of spending went to programs
- Governance: 2 of 3 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $20.2M in reported program spending
- Leadership: top reported pay $649K · 8 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.5M reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 3 filing years from 2023 to 2025
- Contacts: How to reach this organization
- Money network: 41 filed money-flow records
- Related organizations: 37 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
- Review — Sustainability: Total-asset coverage ratio scored 55/100.
- High — Sustainability: Officer compensation ratio scored 7/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.