Andersen Foundation

Nonprofit profile at a glance

EIN
822795105
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
New York, NY, USA
Phone
6462135100
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Foundations

Reported finances

Revenue
$2,132,769
Expenses
$1,082,063
Assets
$6,394,281
Liabilities
$188,482

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • JOSEPH P TOCE JR (TRUSTEE)
  • MICHAEL VAN DE LOO (TRUSTEE)
  • PEPPER AUSTIN (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The andersen tax foundation (hereafter "the foundation") is organized to allow the people of andersen tax llc (hereafter andersen") to assist the geographical communities served by andersen. The community beneficiaries of the assistance are not just limited to the current and former people of andersen, but will be broad enough to include andersen clients and communities as a whole that have immediate needs and suffer permanent losses in times of hardship, will provide scholarship aid to the people of andersen and their families and to support other qualified charitable and educational purposes. The foundation will provide the necessary support and assistance through the contribution of andersen and the voluntary contributions of the people of andersen, including approximately 2,000 overall partners, employees, alumni and retirees, as well as accept grants and funds from the outside general public, including clients, or governmental entities.

What it reported doing in 2024

The foundation aims to provide direct and indirect emergency hardship relief to the andersen communities as a whole. Types of disasters or employee hardship situations include, but are not limited to, natural disasters, terrorism, fires, floods, violent crimes, physical abuse, death and illness in the family, and other personal hardships. For individual assistance, grants are available to those individuals (not limited to just the people of andersen) that can properly demonstrate need, hardship, or distress. All individual recipients are selected based on objective criteria made by an independent selection committee consisting of geographically diverse group of nine individuals. The committee undertakes a due diligence review of each request for assistance to ensure individuals meet the needs-based test. Grants are issued to eligible individuals, including andersen partners and employees, to provide needs-based financial support. Individuals seeking hardship relief will need to apply to the foundation for funds and other assistance using a preestablished application. In 2024 the foundation was able to provide over ten families who experienced hardship stemming from a medical emergency. This grant provided immediate relief to the financial stress of the family driven by this event. Additionally the foundation granted assistance to an individual impacted by the humanitarian crisis resulting from the russian invasion of ukraine.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 73
  • Accountability: 88
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.7%; rating input score 55
  • Program expense ratio: 97.8%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 50%; rating input score 50; 15th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 49.3%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 5.91; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 20.8% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 23.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 54.7% of revenue deployed · 97.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 18 of 20 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 17 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.