Draper Richards Kaplan Foundation
Nonprofit profile at a glance
- EIN
- 912172351
- IRS 990 coverage
- 2023–2024
- Forms available
- Form 990 2024, Form 990-PF 2022, Form 990-T 2020
- Location
- Menlo Park, CA, USA
- Phone
- 6503197808
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Private Operating Foundations
Reported finances
- Revenue
- $15,262,610
- Expenses
- $18,291,353
- Assets
- $40,500,333
- Liabilities
- $2,146,779
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- JAMES M BILDNER (CEO & BOARD MEMBER)
Highest reported compensation
- JAMES M BILDNER (CEO & BOARD MEMBER): $666,574 total reported compensation
- ANIKA WARREN (OPERATING PTR, CHIEF ORG EFF OFFICER): $431,574 total reported compensation
- ZERYN SARPANGAL (CFO, CAO): $430,358 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The draper richards kaplan foundation is a global venture philanthropy firm supporting early stage, high impact social enterprises. We believe that with early funding and rigorous support, exceptional leaders, tackling some of society's most complex problems, can make the world a better place.
What it reported doing in 2024
The foundation provides each portfolio organization with significant human and other support services including board service, strategic and operating support, financial, organizational, governance and leadership training throughout the foundation's three-year commitment to each organization as well as a community network. Between inception and december 31, 2024, drk has funded and supported 257 social impact organizations around the globe.
Operating model
- Revenue model
- Donor-supported. 78% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 81
- Accountability: 90
- Sustainability: 32
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 81.2%; rating input score 81
- Fundraising efficiency: $10.63 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: 2 of 8 controls in place; rating input score 25
- Claims monitoring procedures: Pass
- Requires narrative reports: Pass
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Fail
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 83.3%; rating input score 83; 17th 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: -19.8%; rating input score 5; 5th percentile among comparable filings
- Total-asset coverage ratio: 2.21; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 18%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
- Revenue growth: 21% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: -7.7% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 81.2% of spending went to programs
- Governance: 5 of 6 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $14.9M in reported program spending
- Leadership: top reported pay $667K · 13 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $823K reported
- Consistency: 39 of 39 current checks pass
- Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- Money network: 113 filed money-flow records
- Related organizations: 45 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.
- High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
- High — Sustainability: Operating margin scored 5/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 5/100.