2024-11-11T09:28:14-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-01-01 133949950 AAAA FOUNDATION INC C/O AAAA INC AAAA 2128500770 25 W 45TH STREET 16TH FLOOR NEW YORK NY 10036 JAMES O'DONNELL EVP FINANCE & TREASURER 2128500770 2024-11-11 1 1 SCOTT THOMPSETT P00741490 2125990100 2023 2024-10-15 13:58:12Z 4A'S FOUNDATION JAMES O'DONNELL 25 W 45TH STREET 16TH FLOOR NEW YORK NY 10036 2639009 0 X HTTPS://FOUNDATION.AAAA.ORG X 1996 NY WE ENVISION FUTURE GENERATIONS OF DIVERSE LEADERS THRIVING IN INDUSTRIES POWERED BY CREATIVITY. 21 20 0 0 0 0 913719 1191953 1052884 784466 36 870 488973 206000 2455612 2183289 71750 173750 0 0 1407192 1627448 0 0 289754 844951 1117968 2323893 2919166 131719 -735877 2704594 1728664 487652 247599 2216942 1481065 X SEE SCHEDULE O 0 0 2042627 172000 784466 SEE SCHEDULE O 2042627 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 41 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 21 20 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X JAMES O'DONNELL 2128500770 25 W 45TH STREET 16TH FLOOR NEW YORK NY 10036 MARLA KAPLOWITZ PRESIDENT 5.00 40.00 X X 0 899156 22970 RONALD LEWIS DIRECTOR 1.00 0.00 X 0 0 0 RUSTON SPURLOCK CO CHAIRPERSON 1.00 0.00 X 0 0 0 RENEE JENNINGS BOD TREASURER 1.00 0.00 X 0 0 0 ASHOK SINHA DIRECTOR 1.00 0.00 X 0 0 0 CHRIS LOLL DIRECTOR 1.00 0.00 X 0 0 0 SADIE THOMA DIRECTOR 1.00 0.00 X 0 0 0 RENETTA MCCANN DIRECTOR 1.00 0.00 X 0 0 0 MARY BAGLIVO DIRECTOR 1.00 0.00 X 0 0 0 SANEEL RADIA DIRECTOR 1.00 0.00 X 0 0 0 SARA PORRIT DEPUTY CHAIR 1.00 0.00 X 0 0 0 DEIDRE SMALLS-LANDAU DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER RISI DIRECTOR 1.00 0.00 X 0 0 0 LUIS MIGUEL MESSIANU DIRECTOR 1.00 0.00 X 0 0 0 LUKEISHA PAUL DIRECTOR 1.00 0.00 X 0 0 0 ASHLEY MCGOWAN DIRECTOR 1.00 0.00 X 0 0 0 JEFF MONAHAN CO CHAIRPERSON 1.00 0.00 X 0 0 0 EMILY SANDER DIRECTOR 1.00 0.00 X 0 0 0 DENISE WONG DIRECTOR 1.00 0.00 X 0 0 0 WALTER GEER III DIRECTOR 1.00 0.00 X 0 0 0 DOUGLAS DAVIS DIRECTOR 1.00 0.00 X 0 0 0 JAMES O'DONNELL EVP FINANCE/TREASURER 5.00 45.00 X 0 240000 13412 RUBY TANGIERA MURRAY SENIOR VICE PRESIDENT 20.00 0.00 X 0 196816 29376 TAHLISHA WILLIAMS EVP 4AS INC. 20.00 20.00 X 0 280000 0 STACEY ABREU VP, PARTNER & GROWTH 40.00 0.00 X 163980 0 13675 JACQUELYN GREEN PROGRAM DIRECTOR 40.00 0.00 X 107750 0 13721 271730 1615972 93154 0 0 1 0 OH HEY COACH LLC 4015 GRAY HAWK LANE ROSWELL GA 30076 BUSINESS DEVELOPMENT 263550 COACH MARC CONSULTING LLC 445 E 14TH ST APT 9F NEW YORK NY 10009 EXECUTIVE COACHING 137575 CAITLIN DOOLEY DBA DALEY DOOLEY CONSULTI C/O 4AS FDN 25 W 45TH ST 16TH FL NEW YORK NY 10036 BUSINESS DEVELOPMENT 109800 HUMAN STUDIO LLC C/O 4AS FDN 25 W 45TH ST 16TH FL NEW YORK NY 10036 EXECUTIVE COACHING 105225 4 297064 894889 1191953 MAIP FEES PROGRAM REVENUE 541800 784466 784466 784466 870 870 455720 297064 455720 0 BAD DEBT RECEOVERY 900099 206000 206000 206000 2183289 784466 0 206870 X 1750 1750 172000 172000 1407932 1271328 136604 83804 52060 31744 135712 84306 51406 547001 547001 35453 35453 375500 305500 70000 8148 8148 65353 65353 INTERN EXPENSES 82182 82182 MISCELLANEOUS EXPENSES 1749 1749 EMPLOYEE FUNCTIONS 1660 1660 BANK FEES 922 922 2919166 2042627 586785 289754 2534395 1387093 92549 72723 77650 185735 0 83113 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2704594 1728664 63135 97015 424517 150584 487652 247599 X 785836 770390 1431106 710675 2216942 1481065 2704594 1728664 -735877 0 X 0 1 X 1 0 X 190910 45344 1444976 913719 1191953 3786902 190910 45344 1444976 913719 1191953 3786902 2749845 1037057 697 105 28 36 870 1736 540575 799292 722100 702337 661720 3426024 7214662 4472646 0.14370 0.64050 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT REVENUE - 2019 AMOUNT: $ 540,575. 2020 AMOUNT: $ 799,292. 2021 AMOUNT: $ 722,100. 2022 AMOUNT: $ 702,337. 2023 AMOUNT: $ 455,720. OTHER REVENUE - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 206,000. SCHEDULE A, PART II, PUBLIC SUPPORT TEST THE FOUNDATION MET THE PUBLIC SUPPORT TEST FOR THE TAX YEAR 2023 BY RELYING ON THE PUBLIC SUPPORT PERCENTAGE FROM TAX YEAR 2022. HOWEVER, THE FOUNDATION ACKNOWLEDGES THAT THE CALCULATION FOR TAX YEAR 2023 ALONE FELL BELOW THE REQUIRED THRESHOLD. THIS FAILURE IS AN ISOLATED INCIDENT AND DOES NOT REFLECT THE FOUNDTION'S ONGOING COMMITMENT TO MAINTAINING ITS PUBLIC CHARITY STATUS. REASONS FOR FAILURE: ONE-TIME LARGE DONATION: A SIGNIFICANT ONE-TIME DONATION FROM A SINGLE DONOR SKEWED THE PUBLIC SUPPORT RATIO FOR THE YEAR. CORRECTIVE ACTIONS: ENHANCED FUNDRAISING EFFORTS: THE FOUNDATION HAS IMPLEMENTED A COMPREHENSIVE FUNDRAISING STRATEGY TO INCREASE PUBLIC CONTRIBUTIONS AND DIVERSIFY ITS DONOR BASE. COMMUNITY ENGAGEMENT INITIATIVES: NEW PROGRAMS AND EVENTS HAVE BEEN LAUNCHED TO STRENGTHEN COMMUNITY TIES AND ENCOURAGE BROADER PUBLIC SUPPORT. MONITORING AND REPORTING: THE FOUNDATION HAS ESTABLISHED A DEDICATED TEAM TO MONITOR PUBLIC SUPPORT METRICS AND ENSURE COMPLIANCE WITH IRS REQUIREMENTS. THE FOUNDATION IS CONFIDENT THAT THESE MEASURES WILL ENABLE IT TO MEET THE PUBLIC SUPPORT TEST FOR THE TAX YEAR 2024 AND BEYOND. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO THE ASSOCIATION 150584 150584 X 2183289 0 2183289 0 2183289 2919166 0 2919166 0 2919166 PART X, LINE 2: THE FOUNDATION IS SUBJECT TO THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740-10-05 RELATING TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. THIS REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS"). DUE TO THE FOUNDATION'S GENERAL NOT-FOR-PROFIT STATUS, MANAGEMENT BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON ITS FINANCIAL STATEMENTS. X X 0 CAITLIN DOOLEY (DBA DALEY DOOLEY CONSULTING) C/O 4AS FDN 25 W 45TH STREET 16T NEW YORK NY 10036 GRANT APPLICATION SERVICES 0 0 70000 -70000 70000 -70000 NY FACE OF TALENT 752784 297064 455720 455720 752784 297064 455720 455720 455720 0 1 DIGITAS MULTICULTURAL SCHOLARSHIP 18 172000 PART I, LINE 2: THE MAIP / DIGITAS MULTICULTURAL SCHOLARSHIP AWARD WAS ESTABLISHED TO ASSIST TALENTED DIVERSE STUDENTS WITH COLLEGE TUITION WHO ARE SEEKING FUTURE CAREERS IN THE ADVERTISING AND MARKETING FIELD. IN ADDITION TO THE SCHOLARSHIP, THE AWARD INCLUDES A DIGITAS MENTOR FOR CAREER AND PROFESSIONAL DEVELOPMENT, AND AN INTERVIEW FOR A FULL-TIME DIGITAS POSITION. THE SCHOLARSHIP IS AWARDED TO A MAIP FELLOW WHO EXHIBITS FINANCIAL NEED AND HAS COMPLETED THE SCHOLARSHIP APPLICATION AND SO NO FURTHER MONITORING OF THE SCHOLARSHIP IS REQUIRED. 0 0 0 0 0 0 0 0 0 MARLA KAPLOWITZ PRESIDENT 0 899156 0 0 0 0 0 0 0 22970 0 922126 0 0 TAHLISHA WILLIAMS EVP 4AS INC. 0 280000 0 0 0 0 0 0 0 0 0 280000 0 0 JAMES O'DONNELL EVP FINANCE/TREASURER 0 240000 0 0 0 0 0 0 0 13412 0 253412 0 0 RUBY TANGIERA MURRAY SENIOR VICE PRESIDENT 0 193816 0 3000 0 0 0 0 0 29376 0 226192 0 0 STACEY ABREU VP, PARTNER & GROWTH 163980 0 0 0 0 0 0 0 13675 0 177655 0 0 0 FORM 990, PART I & PART III, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION: ESTABLISHED IN 1997, THE AAAA FOUNDATION ("4A'S FOUNDATION OR "THE FOUNDATION") IS COMMITTED TO IDENTIFYING, DEVELOPING, EMPOWERING AND ENSURING THE MOST DIVERSE TALENT ENTERS AND SUCCEEDS IN THE MARKETING INDUSTRY. THE FOUNDATION EQUIPS, CELEBRATES AND CONNECTS A COMMUNITY OF DIVERSE TALENT FROM HIGH SCHOOL TO MID-CAREER AND BEYOND THROUGH EDUCATIONAL AND PROFESSIONAL ADVANCEMENT OPPORTUNITIES TO CREATE A MORE EQUITABLE FUTURE. THE FOUNDATON ACHIEVES THIS THROUGH OUR ROBUST INITIATIVES AND PROGRAMS AIMED AT DISCOVERING AND CULTIVATING TALENT ACROSS THEIR EDUCATIONAL AND PROFESSIONAL CAREER JOURNEY: EDUCATION (HIGH SCHOOLS), DEAR BLACK TALENT, MULTICULTURAL ADVERTISING INTERN PROGRAM (MAIP) FELLOWSHIP AND ALUMNI, SCHOLARSHIPS, SPOTIFY PULSE, AND VANGUARD. THE FOUNDATION HAS PROVIDED OVER $4 MILLION DOLLARS IN AWARDS, GRANTS AND SCHOLARSHIPS TO DESERVING STUDENTS STUDYING ADVERTISING, MARKETING, MEDIA, CREATIVE ARTS AND PUBLIC RELATIONS. THE MAIP ALUMNI ASSOCIATION OF OVER 4,400+ PROFESSIONALS IS THE LARGEST DIVERSE COMMUNITY IN THE INDUSTRY. OUR HIGH SCHOOL INITIATIVES HAVE PREPARED MORE THAN 1,000 DIVERSE HIGH SCHOOL STUDENTS FOR CAREERS IN MARKETING. FORM 990, PART III, LINE 4A: PROGRAM ACCOMPLISHMENTS THE FOUNDATION WAS CREATED TO GALVANIZE THE INDUSTRY AROUND IMPROVING THE LEVEL OF DIVERSITY WITHIN ADVERTISING AND MEDIA AGENCIES. FOR ALMOST 20 YEARS, THE FOUNDATION HAS BEEN PROVIDING FINANCIAL SUPPORT TO MULTICULTURAL INDIVIDUALS STUDYING ADVERTISING, MEDIA, AND/OR THE CREATIVE ARTS, AS WELL AS RESOURCES TO PROGRAMS AND INITIATIVES IN NYC THAT COVER THE FOLLOWING CATEGORIES FOR OUR INDUSTRY: EDUCATION, EMPLOYMENT, OUTREACH, ENGAGEMENT, AND RETENTION. SIMULTANEOUSLY, IT ENGAGES COLLEGES, UNIVERSITIES AND RECOGNIZED PORTFOLIO SCHOOLS, WHICH HELP IDENTIFY HIGH POTENTIAL STUDENTS WILLING AND ABLE TO MAKE A DIFFERENCE IN OUR COMMUNITY. WE MEASURE OUR IMPACT IN HOW WE POSITIVELY AFFECT THE LIVES AND LIVELIHOODS OF THOSE IN OUR COMMUNITY, WHETHER PROGRAM PARTICIPANTS, AGENCY PARTNERS AND TEAMS, OR THE INDUSTRY AT LARGE. HIGH SCHOOL EDUCATION: - 800+ STUDENTS SUPPORTED THROUGH CAREER EXPOSURE AND INDUSTRY IMMERSION - 40+ TEACHERS RECEIVED PROFESSIONAL DEVELOPMENT SUPPORT FROM AGENCY AND INDUSTRY LEADERS SCHOLARSHIPS & AWARDS: - OVER $60K AWARDED TO DESERVING COLLEGE STUDENTS COLLEGE INTERNSHIPS & CAREER READINESS: - WE HOSTED 150+ FELLOWS FROM 55 COLLEGES AND UNIVERSITIES - WE CONNECTED WITH OVER 750 ACADEMIC LEADERS NATIONWIDE - $1.2 MILLION TOTAL ECONOMIC IMPACT GENERATED BY MAIP FELLOWSHIP SUMMER SALARIE FORM 990, PART V, LINE 2B: EMPLOYEES AND W-2 REPORTING THE FOUNDATION DOES NOT HAVE ITS OWN EMPLOYEES, AND THEREFORE DOES NOT FILE A FORM W-3. IT SHARES EMPLOYEES WITH ITS PARENT ORGANIZATION, AMERICAN ASSOCIATION OF ADVERTISING AGENCIES, INC. ("4A'S") VIA A COMMON PAYMASTER ARRANGEMENT. ALL W-2S AND REQUIRED EMPLOYMENT TAX RETURNS ARE FILED BY 4A'S ACCORIDNGLY. FORM 990, PART VI, SECTION A, LINE 3 DELEGATION OF CONTROL OVER MANAGEMENT DUTIES 4A'S IS THE SOLE MEMBER OF THE FOUNDATION. 4A'S HAS ASSUMED RESPONSIBILITY FOR THE ADMINISTRATION AND MANAGEMENT OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 6 PURSUANT TO THE FOUNDATION'S BYLAWS, 4A'S IS THE FOUNDATION'S SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A PURSUANT TO THE FOUNDATION'S BYLAWS, THE SOLE MEMBER, 4A'S, IS RESERVED THE AUTHORITY TO APPOINT AND/OR REMOVE THE FOUNDATION'S BOARD MEMBERS AS WELL AS TO DETERMINE THE TOTAL NUMBER OF VOTING BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, GRANT THORNTON, IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. ONCE COMPLETED, A DRAFT OF THE 2023 FORM 990 IS SENT TO THE MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT ALL BOARD MEMBERS, OFFICERS AND EMPLOYEES ARE REQUIRED ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST THAT MAY ARISE BY VIRTUE OF THEIR EMPLOYMENT OR BOARD SERVICE WITH THE ORGANIZATION. EACH INDIVIDUAL IS REQUIRED TO SIGN THE CODE OF CONDUCT POLICY ANNUALLY (WHICH ATTESTS TO THEIR INDEPENDENCE). WITHIN THE CODE OF CONDUCT POLICY THERE IS A REQUIREMENT TO DIVULGE ANY CONFLICT. THE SIGNED DOCUMENTS ARE RETAINED BY HUMAN RESOURCES AND THE BOARD SECRETARY. POTENTIAL CONFLICTS OF INTEREST ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 13: WHISTLEBLOWER POLICY 4A'S IS THE SOLE MEMBER OF THE FOUNDATION. THE FOUNDATION RELIES ON THE WRITTEN POLICIES AND PROCEDURES OF 4A'S, THE FOUNDATION'S PARENT AND SUPPORTED ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 14: DOCUMENT RETENTION POLICY THE FOUNDATION RELIES ON THE WRITTEN POLICIES AND PROCEDURES OF 4A'S, THE FOUNDATION'S PARENT AND SUPPORTED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THE FOUNDATION'S CONSTITUTION, CONFLICT OF INTEREST POLICY, EXEMPTION APPLICATION, BYLAWS, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S DISCRETION. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 285,808. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 285,808. PROFESSIONAL CONSULTING FEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 46,000. TOTAL EXPENSES 46,000. LICENSE/SUBSCRIPTION/CONTRACT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 21,949. TOTAL EXPENSES 21,949. MARKETING PROFESSIONAL FEES - MARKETING: PROGRAM SERVICE EXPENSES 14,700. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,700. OTHER TELEPHONE COSTS: PROGRAM SERVICE EXPENSES 4,992. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 551. TOTAL EXPENSES 5,543. MISC. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 1,500. TOTAL EXPENSES 1,500. AMERICAN ASSOCIATION OF ADVERTISING AGENCIES 1065 AVENUE OF THE AMERICAS NEW YORK NY 10018 131621786 ADVERTISING AND MARKETING NY 501(C)(6) N/A 0 COALITION FOR HEALTHCARE COMMUNICATION INC 25 W 45TH STREET 16TH FL NEW YORK NY 10036 133746545 INFO EXCHANGE NY 501(C)(6) AAAA 0 ADVERTISING DIGITAL IDENTIFICATION LLC 1065 AVENUE OF THE AMERICAS NEW YORK NY 10018 061639073 DIGITAL ID'S NY N/A N/A 0 1 AAAA BENEFITS INC 11020 DAVID TAYLOR DRIVE SUITE 305 CHARLOTTE NC 28262 133439015 EMP BENEFITS NC AAAA C 0 AAAA INSURANCE COMPANY LTD 11020 DAVID TAYLOR DRIVE SUITE 305 CHARLOTTE NC 28262 980207541 INSURANCE BD AAAA C 0 AAAA GROUP INSURANCE TRUST 11020 DAVID TAYLOR DRIVE SUITE 305 CHARLOTTE NC 28262 133685892 SUPPORT SVCS NC AAAA T 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 AMERICAN ASSOCIATION OF ADVERTISING AGENCIES O 1627448 COST AMERICAN ASSOCIATION OF ADVERTISING AGENCIES M 547000 COST AMERICAN ASSOCIATION OF ADVERTISING AGENCIES R 150584 COST