Proteus Fund
Proteus Fund reported $43.2 million in revenue and $50.9 million in expenses for calendar year 2024. Of every $100 it spent, $81.24 went to program services, $14.63 to management and general costs and $4.13 to fundraising. Its largest source of revenue was contributions and grants: 92.0% of the total. The highest compensation it reported for one person was $417,476 (PRESIDENT & CEO). 10 people received more than $100,000 in reportable compensation. Revenue rose 43% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $51MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $43MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 81.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 14.6% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.1% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 92.0% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 3.8% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $417,476 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.82% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 10 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 14.3 | 13.3 |
| Independent voting board members Part VI 1a–1b | 12 of 12 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseProteus Fund specializes in connecting engaged, mission-aligned funders to each other and to grantees through donor collaboratives. We also offer fiscal sponsorship to dynamic social justice initiatives as well as donor and group advised funds aligned with our mission, vision, and values
Piper fund is a donor collaborative that brings together individual donors and foundations to defend democratic institutions and the rule of law. The fund connects and resources grassroots organizations dedicated to protecting our democracy and envisioning reforms to make it more inclusive and representative
Rights, inclusion, solidarity, and equity (rise) together fund is a donor collaborative that brings together individual donors and foundations to advance the civil rights and fight for full inclusion of black, african, arab, muslim, middle eastern, and south asian communities and promote their contributions to democracy, culture, and society
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.00 hrs/week | $369,231 | $0 | $48,245 | $417,476 |
| PROGRAM DIRECTOR Highest compensated employee, 40.00 hrs/week | $198,433 | $0 | $58,958 | $257,391 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $226,413 | $0 | $26,489 | $252,902 |
| DIRECTOR OF PEOPLE & CULTURE Highest compensated employee, 40.00 hrs/week | $195,064 | $0 | $29,169 | $224,233 |
| FORMER CHIEF FINANCIAL OFFICER Officer, 40.00 hrs/week | $176,379 | $0 | $47,057 | $223,436 |
10 people received more than $100,000 in reportable compensation from Proteus Fund (Part VII, line 2). Compensation of current officers, directors and key employees totaled $894K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b12 · 12 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5106
- Volunteers Part I, line 612
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| GLOBAL IMPACT Field building consultant | $220,000 |
| KAIROS & HEAT LLC Program consulting | $136,816 |
| JENNY LAH Communications consultant | $130,277 |
| FRIDAY PARTNERS LLC Communications consultant | $127,345 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Private foundation grants it received
73 private foundations reported grants to Proteus Fund totaling $28M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Proteus Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Proteus Fund, you can publish a response that is linked from this page.
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Of every $100 Proteus Fund spent in 2024, $81.24 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Lackawanna CollegeScranton, PA · revenue $43M · programs 73.2% · FY2025
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- Plato Academy Schools CorporationClearwater, FL · revenue $43M · programs 96.6% · FY2025
- Lake Erie CollegePainesville, OH · revenue $43M · programs 85.7% · FY2025
- Sweet Briar InstituteSweet Briar, VA · revenue $43M · programs 72.7% · FY2025
All education charities · Largest charities in Massachusetts
Questions people ask
How much of Proteus Fund's spending goes to programs?
In calendar year 2024, Proteus Fund reported that 81.2% of its $50.9 million in expenses went to program services, 14.6% to management and general and 4.1% to fundraising (Form 990, Part IX).
How much does Proteus Fund pay its top executive?
The largest total compensation Proteus Fund reported for one person in calendar year 2024 was $417,476, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Proteus Fund get its money?
Of $43.2 million in revenue in calendar year 2024, 92.0% came from contributions and grants and 3.8% from program service revenue (Form 990, Part VIII).
Is Proteus Fund a registered charity?
The IRS lists EIN 04-3243004 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202543149349304729 · read the filing · XML
- 2023: Form 990 for calendar year 2023 (amended), object 202513149349303316 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313189349311366 · read the filing
- 2021: Form 990 for calendar year 2021, object 202213199349310211 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103159349307825 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023219349309857 · read the filing
All filings for EIN 04-3243004: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.