2025-12-15T09:46:17-06:00 2025-06-30 271155496 ROBERT LEE AND ASSOCIATES LLP 999 W TAYLOR STREET SUITE A SAN JOSE CA 95126 990 2024-07-01 362411723 FANNIE AND JOHN HERTZ FOUNDATION FANN 9253731642 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 WENDY CONNORS PRESIDENT 9257508767 2025-12-12 1 0 SCOTT R SMEAD P01208759 4088556770 2024 2025-03-06 01:10:19Z WENDY CONNORS 6701 KOLL CENTER PARKWAY SUITE 250 PLEASANTON CA 94566 14632492 0 X WWW.HERTZFOUNDATION.ORG X 1945 IL IDENTIFY AND EMPOWER THE NATION'S MOST EXCEPTIONAL INNOVATORS IN SCIENCE AND TECHNOLOGY. 21 21 13 201 0 0 7444366 10590102 0 0 916423 1628959 3222 1498 8364011 12220559 2446791 2233110 0 0 2436941 2478158 0 0 1298410 2064198 2789227 6947930 7500495 1416081 4720064 41147276 48593851 3008152 2877841 38139124 45716010 X THE HERTZ FOUNDATION IS COMMITTED TO ADVANCING AMERICAN SCIENTIFIC AND TECHNOLOGICAL LEADERSHIP. FOR NEARLY 70 YEARS, THE HERTZ FOUNDATION IDENTIFIED AND EMPOWERED THE NATION'S MOST EXCEPTIONAL INNOVATORS IN SCIENCE AND TECHNOLOGY, FUELING A LIFELONG COMMUNITY DEDICATED TO SOLVING OUR MOST PRESSING PROBLEMS. 0 0 2208110 2208110 THE HERTZ FELLOWSHIP IS THE NATION'S MOST COMPETITIVE DOCTORAL FELLOWSHIP IN THE APPLIED SCIENCES, ENGINEERING AND MATHEMATICS. THE LARGEST EXPENSE CATEGORY IS THE FELLOWSHIP AWARD WHICH INCLUDES TUITION AND STIPEND FOR EACH STUDENT IN SCHOOL. IN FY '25, THIS SUPPORTED 71 STUDENTS AND REPRESENTED 43% 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 PARTIALLY REPLACED THE NEED FOR SUPPORT FROM THE HERTZ FOUNDATION. 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. 1707157 SELECTION AND MENTORING OF IN-SCHOOL FELLOWS: THE FOUNDATION'S PROCESS FOR SELECTING FELLOWSHIP RECIPIENTS IS THE MOST RIGOROUS IN THE US. MORE THAN 1,000 APPLICATIONS WERE RECEIVED AND REVIEWED BY THE SELECTION COMMITTEE, COMPRISED OF LEADING SCIENTISTS, ENGINEERS, AND MATHEMATICIANS, MANY OF THEM ALUMNI FELLOWS. FOLLOWING TWO ROUNDS OF IN-PERSON INTERVIEWS, THE FOUNDATION AWARDS FELLOWSHIPS TO A GROUP OF 15 OR MORE CANDIDATES. THE PROGRESS OF IN-SCHOOL FELLOWS IS MONITORED IN A VARIETY OF WAYS, INCLUDING DISCUSSIONS WITH FELLOWS AND REPORTS. 1490367 25000 THE FOUNDATION SUPPORTS A LIFELONG, INTERDISCIPLINARY NETWORK OF MORE THAN 1,300 HERTZ FELLOWS WORLDWIDE, COLLECTIVELY RESPONSIBLE FOR SOME OF THE MOST SIGNIFICANT SCIENTIFIC AND TECHNOLOGICAL PROGRESS OF THE PAST CENTURY. THE ANNUAL SUMMER WORKSHOP, TOPICAL FORUMS AND PARTNERSHIPS WITH INFLUENTIAL ORGANIZATIONS HAVE LED TO SIGNIFICANT BREAKTHROUGHS AND DELIVERED INNOVATIONS THAT IMPACT MILLIONS OF LIVES ACROSS THE NATION AND THE WORLD. THE FOUNDATION ALSO FACILITATES MENTORING RELATIONSHIPS AMONG FELLOWS TO SUPPORT THEIR PROFESSIONAL GROWTH AND WORKS WITH FELLOWS TO BUILD TAILORED INTERNSHIP EXPERIENCES. A LARGE PORTION OF THESE EXPENSES ARE OFFSET BY RESTRICTED DONOR GIFTS. THE FOUNDATION HAS ESTABLISHED SEVERAL AWARDS TO HIGHLIGHT EARLY-CAREER FELLOWS WHO ARE MAKING AN ACCELERATED IMPACT WITH THEIR WORK: THE HERTZ THESIS PRIZE, THE NEWMAN GALAS ENTREPRENEURIAL PRIZE, AND THE ROBBEE BAKER KOSAK LEADERSHIP PRIZE. 5405634 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 10 0 1 13 1 0 0 0 0 0 0 0 0 0 0 X 21 21 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 WENDY CONNORS 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 PHILIP WELKHOFF SENIOR FELLOWSHIP INTERVIE 10.00 X X 0 0 0 LEE SWANGER VICE CHAIR 0.50 X X 0 0 0 ELISE CAWLEY DIRECTOR 0.50 X 0 0 0 SAMUEL FULLER DIRECTOR 0.50 X 0 0 0 KIMBERLY BUDIL 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 RICHARD MILES DIRECTOR 0.50 X 0 0 0 CARL BURNS DIRECTOR 0.50 X 0 0 0 CHERI ACKERMAN DIRECTOR 0.50 X 0 0 0 RAY SIDNEY 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 CHRIS LOOSE DIRECTOR 0.50 X 0 0 0 WENDY CONNORS PRESIDENT 35.00 X 296095 0 44414 ROBBEE KOSAK PRESIDENT (FORMER) 35.00 X 507714 0 109487 THOMAS ROISUM CONTROLLER 35.00 X 119965 0 17973 JOHN OHAB SENIOR DIRECTOR STRATEGIST 35.00 X 188817 0 28323 KARLA RODEBUSH SENIOR MAJOR GIFTS OFFICER 35.00 X 154900 0 23235 DEREK HASELTINE FELLOWSHIP DIRECTOR 35.00 X 144942 0 21741 ANNE KORNAHRENS DIRECTOR OF COMMUNITY 35.00 X 104930 0 15740 1517363 0 260913 7 0 1 0 0 10590102 141123 10590102 840892 840892 3200000 2411933 788067 788067 788067 OTHER 900099 1498 1498 1498 12220559 1498 0 1628959 X 2233110 2233110 1614468 1224765 131337 258366 435793 387459 34254 14080 264674 142550 44571 77553 28600 -5387 16622 17365 134623 107667 11353 15603 85767 47721 38046 51052 51052 155639 155639 855872 354731 121190 379951 288278 163639 124639 108429 30619 42357 35453 1707 311 1396 111270 51454 15272 44544 458125 243890 68040 146195 551380 340305 27810 183265 307 307 4780 4780 26137 26137 AWARDS AND CONTRIBUTION 82800 82800 BANK FEES 7684 7684 7500495 5405634 796451 1298410 1431263 567855 4065533 7096246 261190 177400 26499 14858 16420 11641 35221403 40598853 151467 141856 41147276 48593851 350392 453623 2628740 2424218 29020 0 3008152 2877841 X 15758330 16893696 22380794 28822314 38139124 45716010 41147276 48593851 4720064 2748820 108002 0 X X 0 1 X 1 0 X 3898426 9889719 5925109 7444366 10590102 37747722 3898426 9889719 5925109 7444366 10590102 37747722 18812768 18934954 473805 565807 789467 895116 840892 3565087 41312809 0.45830 0.48750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20247810 1469417 2234049 334288 23616988 17131493 1125327 2332755 341765 20247810 14498957 1258578 1634663 260704 17131493 10865275 5000000 -986883 379435 14498957 9144590 176617 1847879 303811 10865275 0.08000 0.92000 0 0 26499 14858 11641 11641 X 14921742 2748820 108002 2856822 12064920 155639 155639 12220559 7344856 0 7344856 155639 155639 7500495 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, 2025 MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS. 1 FELLOWSHIPS 69 2233110 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 WENDY CONNORS PRESIDENT 296095 0 0 0 0 0 44414 0 0 0 340509 0 0 0 ROBBEE KOSAK PRESIDENT (FORMER) 507714 0 0 0 0 0 109487 0 0 0 617201 0 0 0 JOHN OHAB SENIOR DIRECTOR STRATEGIST 188817 0 0 0 0 0 28323 0 0 0 217140 0 0 0 KARLA RODEBUSH SENIOR MAJOR GIFTS OFFICER 154900 0 0 0 0 0 23235 0 0 0 178135 0 0 0 DEREK HASELTINE FELLOWSHIP DIRECTOR 144942 0 0 0 0 0 21741 0 0 0 166683 0 0 0 X 8 141123 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 FINANCE AND EXECUTIVE COMMITTEES APPROVE THE PRESIDENT'S COMPENSATION CONTRACT. 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 354,731. MANAGEMENT AND GENERAL EXPENSES 121,190. FUNDRAISING EXPENSES 379,951. TOTAL EXPENSES 855,872. 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.