2024-05-09T16:23:58-05:00 2023-06-30 271155496 ROBERT LEE AND ASSOCIATES LLP 999 W TAYLOR STREET SUITE A SAN JOSE CA 95126 990 2022-07-01 362411723 FANNIE AND JOHN HERTZ FOUNDATION FANN 9253731642 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 ROBBEE BAKER KOSAK PRESIDENT 9253731642 2024-05-08 1 ROBBEE BAKER KOSAK 999009999 1 SCOTT R SMEAD P01208759 4088556770 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBBEE BAKER KOSAK 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 8805993 0 X WWW.HERTZFOUNDATION.ORG X 1945 IL TO IDENTIFY, SUPPORT AND MENTOR THE TOP US PHD STUDENTS IN SCIENCE, MATH AND ENGINEERING 18 18 13 188 0 0 9889719 5925109 0 0 6610167 740619 0 11070 16499886 6676798 1773180 2038820 0 0 1693084 2047791 0 0 893092 802659 1545426 4268923 5632037 12230963 1044761 31929987 35725069 2010575 2693062 29919412 33032007 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 THAN 1,200 LEADERS AND DISRUPTERS WHO APPLY THEIR REMARKABLE TALENTS WHERE THEY'RE NEEDED 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, ADDRESSING CLIMATE CHANGE AND PROTECTING OUR NATION'S SECURITY. HERTZ FELLOWS HOLD 3,000+ PATENTS, HAVE FOUNDED 200+ COMPANIES, AND HAVE RECEIVED 200+ MAJOR NATIONAL AND INTERNATIONAL AWARDS, INCLUDING TWO NOBEL PRIZES, EIGHT BREAKTHROUGH PRIZES, THREE MACARTHUR FELLOWS (AKA GENIUS AWARDS), THENATIONAL MEDAL OF TECHNOLOGY, THE FIELDS MEDAL, AND THE TURING AWARD. 0 0 2038820 2038820 THE LARGEST EXPENSE CATEGORY IS THE ACTUAL FELLOWSHIP AWARD WHICH INCLUDES TUITION AND STIPEND FOR EACH STUDENT FOR ALL STUDENTS IN SCHOOL. IN FY '22, 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 FDN. THOUGH THE RECENT INVESTMENT IN THE FUNDRAISING PROGRAM HAS BEEN QUICK TO SHOW SUCCESS AND IS GROWING ANNUALLY, SUPPORTING THE FOUNDATION'S OPERATIONS AND NOW ADDING TO THE ENDOWMENT FOR THE FIRST TIME IN 20 YEARS, THE FOUNDATION IS ON THE WAY TO BUILDING THE ENDOWMENT LEVEL TO SUPPORT THE GOAL OF 25 NEW FELLOWSHIPS EACH YEAR. 1030473 SELECTING NEW FELLOWSHIP AWARDEES AND MENTORING 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 40 VOLUNTEERS ARE TRAINED AND INTIMATELY INVOLVED IN THE VARIOUS STAGES REVIEWING MATERIALS FROM APPROX. 800 APPLICANTS AND INTERVIEWING MORE THAN 120 CANDIDATES. ADDITIONALLY, EXPANDING THE PRE-PROFESSIONAL EXPERIENCE IS A TOP PRIORITY IN THE FDN'S NEW STRATEGIC PLAN. PERSONALIZED MENTORING MATCHES ARE INCREASING. MONTHLY GROUP CAREER CONVERSATIONS HAVE BEEN ADDED WITH SENIOR ALUMNI FELLOWS ACROSS THE SPECTRUM OF ORGANIZATIONS, COMPANIES, NATIONAL LABS, RESEARCH & SCIENCE POLICY THINKTANKS. 1009752 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 UNIVERSITY OFFERINGS. 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. 4079045 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 18 18 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 4.00 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 INTERVIE 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 COOPER RINZLER 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 DAVID GALAS CHAIRMAN EMERITUS 0.50 X 0 0 0 WENDY CONNORS CHIEF DEVELOPMENT OFFICER 35.00 X 258324 0 39108 JOHN OHAB SENIOR DIRECTOR, STRATEGIST BRANT, COLLABORATION 35.00 X 171659 0 26499 KARLA RODEBUSH SENIOR MAJOR GIFTS OFFICER 35.00 X 131230 0 20112 DEREK HASELTINE FELLOWSHIP DIRECTOR 35.00 X 130196 0 19529 ANNE KORNAHRENS DIRECTOR OF COMMUNITY 35.00 X 102615 0 15467 ROBBEE BAKER KOSAK PRESIDENT 35.00 X 414126 0 62859 THOMAS ROISUM CONTROLLER EFFECTIVE AUGUST 1, 2022 17.50 X 47252 0 17250 1255402 0 200824 6 0 1 0 0 5925109 537961 5925109 789467 789467 2080347 2129195 -48848 -48848 -48848 OTHER 900099 11070 11070 11070 6676798 0 0 751689 2038820 2038820 536114 304429 144705 86980 1120975 694514 53608 372853 198439 100694 27714 70031 88636 59049 9305 20282 103627 64317 14080 25230 16315 105 10535 5675 58255 58255 131221 131221 496766 255230 45041 196495 17027 12654 45 4328 45482 13691 12704 19087 3291 2564 263 464 102637 4201 95942 2494 566988 472942 21718 72328 27181 7735 2824 16622 3329 3329 22063 22063 AWARDS AND CONTRIBUTION 48300 48100 200 BANK FEES 6571 6548 23 5632037 4079045 659900 893092 1615468 359114 4285033 4258959 42749 0 280878 106671 20437 5665 13550 14772 25679969 30867929 12340 117624 31929987 35725069 194615 309178 1798351 2383884 17609 0 2010575 2693062 X 12642017 13564525 17277395 19467482 29919412 33032007 31929987 35725069 1044761 2055057 12777 0 X X 0 1 X 1 0 X 5269852 3817029 3898426 9889719 5925109 28800135 5269852 3817029 3898426 9889719 5925109 28800135 14358845 14441290 488688 457092 473805 565807 789467 2774859 31574994 0.45740 0.46620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14498957 1258578 1308179 260704 16805010 10865275 5000000 -986883 379435 14498957 9144590 176617 1847879 303811 10865275 8792620 178983 453600 280613 9144590 7854321 649400 510853 221954 8792620 0.09500 0.00000 0.90500 0 0 20437 5665 14772 14772 X 8613411 2055057 12777 2067834 6545577 131221 131221 6676798 5500816 0 5500816 131221 131221 5632037 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, 2023 MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS. 1 FELLOWSHIPS 65 2038820 FMV PART I, LINE 2: THE FOUNDATION CLOSELY MONITORS THE USE OF FUNDS. EVERY SEMESTER/QUARTER EACH STUDENT'S ENROLLMENT MUST BE CONFIRMED BY THEIR UNIVERSITY BEFORE THE TUITION AND STIPEND FUNDING IS RELEASED TO THE UNIVERSITY. EACH STUDENT ALSO HAS A PERSONAL MEETING EACH YEAR WITH A MEMBER OF THE SELECTION COMMITTEE TO ASSURE THEY ARE ON A PRODUCTIVE RESEARCH AND EDUCATION PATH AND TO COUNSEL IN REGARD TO NEXT STEPS. IN ADDITION, ANNUAL WRITTEN PROGRESS REPORTS ARE REQUIRED FROM EACH STUDENT AS WELL AS FROM THEIR FACULTY ADVISOR. FOR ATTENDANCE AT HERTZ RETREATS AND THE SUMMER WORKSHOP, EXPENSE RECEIPTS ARE REQUIRED AND REVIEWED PRIOR TO REIMBURSEMENT. STAFF EXPENSES REQUIRE TWO APPROVALS PRIOR TO REIMBURSEMENT. THE BOARD'S FINANCE COMMITTEE REVIEWS THE BUDGET AND INVESTMENT DETAILS TWO-THREE TIMES A YEAR. THE FULL BOARD REVIEWS AND APPROVES THE FINAL EXPENSE BUDGET. 1 X X X 0 0 0 0 0 0 0 0 0 WENDY CONNORS CHIEF DEVELOPMENT OFFICER 258324 0 0 0 0 0 39108 0 0 0 297432 0 0 0 JOHN OHAB SENIOR DIRECTOR, STRATEGIST BRANT, C 171659 0 0 0 0 0 26499 0 0 0 198158 0 0 0 KARLA RODEBUSH SENIOR MAJOR GIFTS OFFICER 131230 0 0 0 0 0 20112 0 0 0 151342 0 0 0 ROBBEE BAKER KOSAK PRESIDENT 414126 0 0 0 0 0 62859 0 0 0 476985 0 0 0 X 7 537961 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 DISCLOURE STATEMENT AFFIRMING THAT THE PERSON HAS RECIEVED 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 AFFLICATIONS. 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 RAISE WAS APPROVED BY THE BOARD OF DIRECTORS EFFECTIVE 7/1/2023. 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 EMPLYEES. THEY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. FORM 990, PART VII, LINE2 THE FOUNDATION MAINTAINS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY OVER THE OVERSIGHT OF THE AUDIT. THE PROCESS DID NOT CHANGE DURING THE FISCAL YEAR.