SEMI Foundation

Nonprofit profile at a glance

EIN
300155873
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Milpitas, CA, USA
Phone
4089436900
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$4,645,011
Expenses
$4,097,819
Assets
$7,865,332
Liabilities
$3,071,616

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Ajit Manocha (Chairman, Pres & CEO)
  • Shari Liss (Secretary, Executive Director)

Highest reported compensation

  • Ajit Manocha (Chairman, Pres & CEO): $3,229,913 total reported compensation
  • Kevin Bauer (CFO & Treasurer): $1,397,123 total reported compensation
  • Shari Liss (Secretary, Executive Director): $761,150 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 mission of the semi foundation is to support economic opportunity for workers and the sustained growth of the microelectronics industry. We accomplish this through creating pathways and opportunities for job seekers, and tools and systems for semiconductor companies to attract, develop, and retain an innovative and skilled workforce.

What it reported doing in 2024

The semi foundation continues to focus on global initiatives that support workforce development in the industry. The goal of the foundation's work is to help attract candidates and help develop a global workforce to sustain industry innovation and growth. One important initiative is the industry image and awareness campaign to raise the visibility of this crucial industry. This includes a national media campaign to inspire students and adults to join the microelectronics industry; an online career exploration portal to help students and job seekers find educational pathways and connections to employers; virtual video events that reach millions of high school students annually and educate them about industry professionals and careers; and a documentary that explores and illuminates the industry. The semi foundation also coordinates numerous additional programs to support the workforce pipeline, including a mentoring program for industry professionals to connect with students, a vetworks initiative that recruits military veterans transitioning into civilian life, and ongoing industry events nationwide focused on workforce development. Semi foundation also supports suppliers and companies and sponsors an industry recognition award.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 71
  • Accountability: 86
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.7%; rating input score 83
  • Program expense ratio: 92.9%; rating input score 93
  • Fundraising efficiency: $24.74 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 21st percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.8%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 1.92; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 58.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 26.4% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 16.3% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 82.7% of revenue deployed · 92.9% of spending went to programs
  • Governance: 10 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.8M in reported program spending
  • Leadership: top reported pay $3.2M · 13 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.6M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.