2024-11-14T07:48:00-06:00 2024-06-30 271155496 ROBERT LEE AND ASSOCIATES LLP 999 W TAYLOR STREET SUITE A SAN JOSE CA 95126 990 2023-07-01 362411723 FANNIE AND JOHN HERTZ FOUNDATION FANN 9253731642 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 ROBBEE BAKER KOSAK PRESIDENT 9253731642 2024-10-23 1 1 SCOTT R SMEAD P01208759 4088556770 2023 2024-10-15 13:58:12Z ROBBEE BAKER KOSAK 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 8364011 0 X WWW.HERTZFOUNDATION.ORG X 1945 IL TO IDENTIFY, SUPPORT AND MENTOR THE TOP US PHD STUDENTS IN SCIENCE, MATH AND ENGINEERING 22 22 13 191 0 0 5925109 7444366 0 0 740619 916423 11070 3222 6676798 8364011 2038820 2446791 0 0 2047791 2436941 0 0 1000972 1545426 2064198 5632037 6947930 1044761 1416081 35725069 41147276 2693062 3008152 33032007 38139124 X THE FANNIE AND JOHN HERTZ FOUNDATION'S MISSION IS TO IDENTIFY THE NATION'S MOST PROMISING INNOVATORS IN SCIENCE AND TECHNOLOGY AND EMPOWER THEM TO PURSUE SOLUTIONS TO THE NATION'S TOUGHEST CHALLENGES. LAUNCHED IN 1963, THE HERTZ FELLOWSHIP IS THE MOST SELECTIVE GRADUATE FELLOWSHIP PROGRAM IN THE US, FUELING MORE 1,305 LEADERS AND DISRUPTERS WHO APPLY THEIR REMARKABLE TALENTS WHERE THEY'RE NEED MOST. THROUGH THIS POWERFUL AND CONNECTED COMMUNITY, HERTZ FELLOWS BUILD LASTING RELATIONSHIPS THAT ACCELERATE THEIR CAREERS AND DEEPEN THE IMPACT OF THEIR WORK FROM IMPROVING HEALTHCARE TO ADDRESSING CLIMATE CHANGE AND PROTECTING OUR NATION'S SECURITY. HERTZ FELLOWS HOLD 3,000+ PATENTS, HAVE FOUNDED 200+ COMPANIES, AND HAVE RECIEVED 200+ MAJOR NATIONAL AND INTERNATIONAL AWARDS, INCLUDING TWO NOBEL PRIZES, 10 BREAKTHROUGH PRIZES, THREE MACARTHUR FELLOWS (AKA GENIUS AWARDS), THE NATIONAL MEDAL OF TECHNOLOGY, THE FIELDS MEDAL, AND THE TURING AWARD. 0 0 2446791 2446791 THE LARGEST EXPENSE CATEGORY IS THE FELLOWSHIP AWARD WHICH INCLUDES TUITION AND STIPEND FOR EACH STUDENT IN SCHOOL. IN FY '24, THIS SUPPORTED 65 STUDENTS AND REPRESENTED 54% OF THE TOTAL EXPENSE BUDGET. THE AMOUNT NEEDED FOR TUITION AND STIPEND WAS LOWER THAN ANTICIPATED FOR A VERY POSITIVE REASON: MANY STUDENTS ALSO WON OTHER PRIZES/AWARDS WHICH REPLACED THE NEED FOR SUPPORT FROM THE HERTZ FOUNDATION. THOUGH THE RECENT INVESTMENT IN FUNDRAISING HAS BEEN QUICK TO SHOW SUCCESS AND IS GROWING ANNUALLY, SUPPORTING THE FOUNDATION'S OPERATIONS AND ADDING TO THE ENDOWMENT FOR THE FIRST TIME IN 20 YEARS. THE FOUNDATION DOES NOT YET HAVE THE ENDOWMENT LEVEL TO SUPPORT 25 NEW FELLOWSHIPS EACH YEAR, BUT IS STEADILY INCREASING AND EXPANDING ITS DONOR BASE TO ACHIEVE THIS GOAL. 1653486 THE PROCESS TO SELECT NEW FELLOWSHIP AWARDEES AND MENTOR ALL IN-SCHOOL FELLOWS IS THE SECOND LARGEST EXPENSE CATEGORY. THE SELECTION PROCESS IS COMPREHENSIVE, WITH 3 STAGES OF INTENSIVE REVIEW. IT IS CONSIDERED THE MOST PERSONALIZED AND RIGOROUS OF ANY AWARD SELECTION PROCESS IN THE U.S.. OVER 60 VOLUNTEERS ARE TRAINED AND INTIMATELY INVOLVED IN THE VARIOUS STAGES REVIEWING MATERIALS FROM APPROX. 800 APPLICANTS AND INTERVIEWING MORE THAN 120 CANDIDATES VIA WEB CONFERENCING AND IN-PERSON MEETINGS. ADDITIONALLY, EXPANDING THE PRE-PROFESSIONAL EXPERIENCE IS A TOP PRIORITY IN THE FOUNDATION'S STRATEGIC PLAN. PERSONALIZED MENTORING MATCHES ARE INCREASING AS WELL AS MONTHLY DISCUSSIONS FACILITATED BY ALUMNI FELLOWS ACROSS THE SPECTRUM OF ORGANIZATIONS,COMPANIES, NATIONAL LABS, RESEARCH & SCIENCE POLICY THINK TANKS TO PROVIDE CAREER EXPOSURE AND PROFESSIONAL GUIDANCE. 1049441 HERTZ COMMUNITY PROGRAMMING IS THE THIRD LARGEST EXPENSE. SERVING ALL FELLOWS, IT HAS BECOME A MUCH-DESIRED DISTINCTION OF THE HERTZ FOUNDATION'S OFFERING AND UNIQUE WHEN COMPARED TO OFFERINGS FROM OTHER AWARD PROGRAMS, PROFESSIONAL SOCIETIES OR UNIVERSITIES. VOLUNTEER ENGAGEMENT HAS DOUBLED, AS HAVE PROGRAM OFFERINGS. RECORD NUMBER OF ATTENDEES HAVE BEEN ATTRACTED THROUGHOUT THE PAST YEAR. SOME ACTIVITIES HAVE ATTRACTED DONOR SUPPORT AND INCLUDE SPECIAL PRIZES TO CELEBRATE THE MOST PROMISING THESIS AND EARLY BREAKTHROUGH WORK OF YOUNG FELLOWS. 5149718 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 13 0 1 13 1 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA AL AK AR AZ CO CT FL GA HI IL KS KY MA ME MD MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WV WI X X X THOMAS ROISUM 9253903834 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 STEPHEN FANTONE CHAIRMAN 2.00 X X 0 0 0 CARLA NEWMAN SECRETARY 0.50 X X 0 0 0 PAUL M YOUNG TREASURER 0.50 X X 0 0 0 PHILLIP WELKOFF SENIOR FELLOWSHIP INTERVIEWER 10.00 X X 0 0 0 M MICHAEL ANSOUR DIRECTOR 0.50 X 0 0 0 ELISE CAWLEY DIRECTOR 0.50 X 0 0 0 ROGER FALCONE DIRECTOR 0.50 X 0 0 0 SAMUEL FULLER DIRECTOR 0.50 X 0 0 0 DANIEL GOODMAN DIRECTOR 0.50 X 0 0 0 ROSEMARIE HAVRANEK DIRECTOR 0.50 X 0 0 0 RICHARD B MILES DIRECTOR 0.50 X 0 0 0 AMIR NASHAT DIRECTOR 0.50 X 0 0 0 HAROLD J NEWMAN DIRECTOR 0.50 X 0 0 0 COOPER RINZLER THROUGH 1223 DIRECTOR 0.50 X 0 0 0 MONIKA SCHLEIER-SMITH DIRECTOR 0.50 X 0 0 0 RAY SIDNEY DIRECTOR 0.50 X 0 0 0 LEE SWANGER DIRECTOR 0.50 X 0 0 0 WILLIAM EVANS DIRECTOR 0.50 X 0 0 0 MAX MANKIN DIRECTOR 0.50 X 0 0 0 STEVEN LIPNER DIRECTOR 0.50 X 0 0 0 MICHAEL SCHNALL-LEVIN DIRECTOR 0.50 X 0 0 0 ALFRED SPECTOR DIRECTOR 0.50 X 0 0 0 ROBBEE BAKER KOSAK PRESIDENT 35.00 X 450928 0 67639 THOMAS ROISUM CONTROLLER 35.00 X 116903 0 17535 WENDY CONNORS CHIEF DEVELOPMENT OFFICER 35.00 X 276360 0 41454 JOHN OHAB SENIOR DIRECTOR STRATEGIST BRAND 35.00 X 182492 0 27374 KARLA RODEBUSH SENOR MAJOR GIFTS OFFICER 35.00 X 143126 0 21469 DEREK HASELTINE FELLOWSHIP DIRECTOR 35.00 X 139406 0 20911 ANNE KORNAHRENS DIRECTOR OF COMMUNITY 35.00 X 100221 0 15033 1409436 0 211415 7 0 1 0 0 7444366 541769 7444366 895116 895116 21307 0 21307 21307 21307 OTHER 900099 3222 3222 3222 8364011 3222 0 916423 X 2446791 2446791 1026683 706471 136050 184162 863164 752503 49616 61045 302096 167576 56492 78028 126903 97989 25681 3233 118095 91150 12080 14865 26318 473 21605 4240 39258 39258 136212 136212 834918 332155 81246 421517 23139 5669 17470 125116 40677 45589 38850 442 121 321 86077 40506 25506 20065 397893 177706 129101 91086 285485 211363 11502 62620 4414 4414 18782 18696 86 AWARDS AND CONTRIBUTION 78540 78540 BANK FEES 7604 28 4192 3384 6947930 5149718 797240 1000972 359114 1431263 4258959 4065533 106671 261190 26499 10079 14772 16420 30867929 35221403 117624 151467 35725069 41147276 309178 350392 2383884 2628740 29020 2693062 3008152 X 13564525 15758330 19467482 22380794 33032007 38139124 35725069 41147276 1416081 3673019 18017 0 X X 0 1 X 1 0 X 3817029 3898426 9889719 5925109 7444366 30974649 3817029 3898426 9889719 5925109 7444366 30974649 14322396 16652253 457092 473805 565807 789467 895116 3181287 34155936 0.48750 0.45740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16805010 1452435 2119426 307125 20069746 14498957 1258578 1308179 260704 16805010 10865275 5000000 -986883 379435 14498957 9144590 176617 1847879 303811 10865275 8792620 178983 453600 280613 9144590 0.08700 0.00000 0.91300 0 0 26499 10079 16420 16420 X 11918835 3673019 18017 3691036 8227799 136212 136212 8364011 6811718 0 6811718 136212 136212 6947930 PART X, LINE 2: THE FOUNDATION EVALUATES ITS UNCERTAIN TAX POSITIONS AND WILL RECOGNIZE A LOSS CONTINGENCY WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS THAT CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. AS OF JUNE 30, 2024 MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS. 1 FELLOWSHIPS 63 2446791 FMV PART I, LINE 2: AFTER FUNDING, THE SENIOR INTERVIEWER OR A MEMBER OF THE SELECTION COMMITTEE LIAISE WITH THE FELLOWS TO PROVIDE ADVICE AND OVERSIGHT AS NECESSARY. THE STAFF REQUEST PROGRESS REPORT FROM FACULTY ADVISORS TWICE ANNUALLY AND FORWARDS THE REPORTS TO THE SENIOR INTERVIEWER FOR REVIEW. 1 X X X 0 0 0 0 0 0 0 0 0 ROBBEE BAKER KOSAK PRESIDENT 450928 0 0 0 0 0 67639 0 0 0 518567 0 0 0 WENDY CONNORS CHIEF DEVELOPMENT OFFICER 276360 0 0 0 0 0 41454 0 0 0 317814 0 0 0 JOHN OHAB SENIOR DIRECTOR STRATEGIST BRAND 182492 0 0 0 0 0 27374 0 0 0 209866 0 0 0 KARLA RODEBUSH SENOR MAJOR GIFTS OFFICER 143126 0 0 0 0 0 21469 0 0 0 164595 0 0 0 DEREK HASELTINE FELLOWSHIP DIRECTOR 139406 0 0 0 0 0 20911 0 0 0 160317 0 0 0 X 8 541769 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT OF THE FORM 990 WAS APPROVED BY THE BOARD OF DIRECTORS. THE FORM 990 IS POSTED ON THE FOUNDATION'S WEBSITE, WWW.HERTZFOUNDATION.ORG. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER, AND EMPLOYEE OF THE FOUNDATION SHALL SIGN AN ANNUAL DISCLOSURE STATEMENT AFFIRMING THAT THE PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTOOD THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND DISCLOSES ANY DIRECT OR INDIRECT AFFILIATIONS. ALL ANNUAL DISCLOSURE STATEMENTS SHALL BE SUBMITTED TO THE PRESIDENT OF THE FOUNDATION PRIOR TO THE FIRST MEETING OF THE BOARD OF DIRECTORS IN THE FOLLOWING YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT IS UNDER A CONTRACT DATED 7/18/19; THIS YEAR A 14.6% RAISE WAS APPROVED BY BOTH THE FINANCE AND EXECUTIVE COMMITTEES. THIS CONTRACT PROVIDES FOR COMPENSATION INCREASES BASED ON EXTERNAL DATA (GUIDESTAR) AND DEPENDS ON THE FINANCIAL CONDITION OF THE FOUNDATION IN THE BOARD'S DISCRETION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION IRS FORM 990 AND THE INDEPENDENT AUDIT REPORT AND FINANCIAL STATEMENTS ARE PUBLISHED ON ITS WEBSITE AT WWW.HERTZFOUNDATION.ORG. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE DISTRIBUTED TO THE BOARD MEMBERS AND EMPLOYEES. THEY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. FORM 990, PART IX, LINE 11G OTHER FEES FOR SERVICE: PROGRAM SERVICE EXPENSES 332,155. MANAGEMENT AND GENERAL EXPENSES 81,246. FUNDRAISING EXPENSES 421,517. TOTAL EXPENSES 834,918. FORM 990, PART VII, LINE2 THE FOUNDATION MAINTAINS AN AUDIT COMMITTEE THAT ASSUMES THAT RESPONSIBILITY OVER THE OVERSIGHT OF THE AUDIT. THE PROCESS DID NOT CHANGE DURING THE FISCAL YEAR.