Proteus Fund Inc
81% goes to programs $5 to raise $100 Strong reserves
Proteus Fund Inc is a 501(c)(3) organization based in Waltham, Massachusetts, registered in 1994, with $43,200,431 in FY2024 revenue. CharityIndex grades it B+, and it directs about 81% of spending to programs.
303 Wyman St Ste 300, Waltham, MA, 02451 EIN 04-3243004 Since 1994
Revenue (FY2024)
$43.2M
▼ 40.0% vs prior year
Education median: $200K
Expenses (FY2024)
$50.9M
Net assets
$60.8M
Employees
106
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →AProgram efficiency40% of the rating81% to programs · $5 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Proteus Fund Inc: 81% to programs · $5 to raise $100 earns a A on this criterion. See the exact thresholds →
C+Financial health25% of the rating14 mo reserves · -18% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Proteus Fund Inc: 14 mo reserves · -18% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Proteus Fund Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Proteus Fund Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Proteus fund connects philanthropy to the frontlines of social justice to advance racial, gender, queer, and disability justice, and an inclusive, fully representative democracy.
What they do
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.
Contact & location
- Address
- 303 Wyman St Ste 300, Waltham, MA, 02451
- City
- Waltham
- State
- Massachusetts
- Category
- Education
- Subcategory
- Educational Services
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $15.8M (FY2013) to $43.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $6.3MNet assets $60.8M
Operating margin
-17.7%
Spent more than it raised in the latest fiscal year.
Total assets
$67.1M
Total liabilities
$6.3M
Net assets
$60.8M
Salaries & benefits
$15.4M
30% of expenses
Board members
12
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $43,200,431▼40.0% | $50,856,079▲3.4% | $60,783,570▼10.7% | $67,104,176▼11.0% | 990 |
| 2023 | $72,042,119▲14.4% | $49,172,889▼17.6% | $68,046,047▲51.0% | $75,407,064▲39.0% | 990 |
| 2022 | $62,955,408▲36.1% | $59,655,544▲66.9% | $45,053,555▲6.8% | $54,254,399▲15.2% | 990 |
| 2021 | $46,264,432▲7.5% | $35,750,963▼12.8% | $42,194,106▲33.7% | $47,115,132▲27.0% | 990 |
| 2020 | $43,033,810▲42.3% | $41,019,615▲36.9% | $31,570,037▲8.6% | $37,109,243▲20.1% | 990 |
| 2019 | $30,242,758▼7.6% | $29,952,722 | $29,062,180▲1.8% | $30,888,285▲3.0% | 990 |
| 2018 | $32,715,202▲2.6% | $29,945,970▲15.7% | $28,542,359▲47.2% | $29,981,209▲48.1% | 990 |
| 2017 | $31,883,493▲49.4% | $25,873,886▲15.6% | $19,395,697▲47.3% | $20,238,891▲34.4% | 990 |
| 2016 | $21,335,481▲35.1% | $22,391,888▲42.3% | $13,168,283▼7.7% | $15,059,114▼4.0% | 990 |
| 2015 | $15,788,563▼8.4% | $15,738,768▲0.6% | $14,263,504▲0.2% | $15,690,301▼9.3% | 990 |
| 2014 | $17,242,536▲8.8% | $15,649,332▲13.2% | $14,232,841▲12.9% | $17,301,147▲19.5% | 990 |
| 2013 | $15,845,373 | $13,824,522▲1.6% | $12,601,852▲19.1% | $14,478,930▲28.7% | 990 |
| 2012 | — | $13,612,671▲32.9% | $10,581,001▲16.3% | $11,254,375▲21.0% | 990 |
| 2011 | — | $10,240,087▲17.3% | $9,101,628▲19.2% | $9,301,024▲18.9% | 990 |
| 2010 | — | $8,733,069 | $7,633,616 | $7,824,581 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Paul Di Donato — $369,231 (0.73% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Paul Di Donato | President & Ceo | 40 | $369,231 |
| Beery Jimenez | Chief Operating Officer | 40 | $226,413 |
| Michael Jarvis | Program Director | 40 | $198,433 |
| Sydney Henriques-payne | Director of People & Culture | 40 | $195,064 |
| Ryan Chavez | Former Chief Financial Officer | 40 | $176,379 |
| Betsy Schmidt | Director | 2 | — |
| Desiree Flores | Secretary | 5 | — |
| Eric Ward | Director | 5 | — |
| Everette Thompson-francois | Director | 2 | — |
| Maria Teresa Rojas | Director | 2 | — |
| Nicole Campbell | Chair | 5 | — |
| Nima Shirazi | Vice Chair | 5 | — |
| Patricia Eng | Director | 2 | — |
| Rick Scott | Treasurer | 5 | — |
| Risa Rifkind | Director | 2 | — |
| Tammy Dowley-blackman | Director | 2 | — |
| Tia Oros Peters | Director | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Global Impact | Field Building Consultant | $220,000 |
| Tiffany Flowers | Program Consulting | $146,274 |
| Kairos & Heat LLC | Program Consulting | $136,816 |
| Jenny Lah | Communications Consultant | $130,277 |
| Friday Partners LLC | Communications Consultant | $127,345 |
Grants received · $122.8M total
299 grants to Proteus Fund Inc totaling $122.8M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Amalgamated Charitable Foundation Inc | General operating support and project support | 2024 | $2,560,500 |
| Hopewell Fund | Civil rights, social action, advocacy | 2024 | $530,000 |
| New Venture Fund | Civil rights, social action, advocacy | 2024 | $412,965 |
| Greater Kansas City Community Foundation | Public, societal benefit | 2024 | $400,000 |
| Rockefeller Philanthropy Advisors Inc | Philanthropy, voluntarism & grantmaking foundations, civil rights, social action & advocacy, social science | 2024 | $315,000 |
| Common Counsel Foundation | Third wave fund | 2024 | $250,000 |
| United States Energy Foundation | To promote education and analysis on the benefits of clean transportation. | 2024 | $189,350 |
| American Endowment Foundation | Educational | 2024 | $185,000 |
| Common Counsel Foundation | Third wave fund sex worker giving circle | 2024 | $150,000 |
| The Seattle Foundation | To support impact driven philanthropy collaborative | 2024 | $125,000 |
| Borealis Philanthropy | To support the work of disability culture lab | 2024 | $80,000 |
| Tides Foundation | Healthy individuals and communities | 2024 | $80,000 |
| The Seattle Foundation | To support the piper fund donor collaborative | 2024 | $75,000 |
| Common Counsel Foundation | Piper fund - right to protest program | 2024 | $25,000 |
| American Online Giving Foundation Inc | General support | 2024 | $24,400 |
Grants made · $21.6M in FY2024
219 grants totaling $21.6M in FY2024 — showing the 15 largest. All grants made by Proteus Fund Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Voter Registration Project Education Fund | General support | $2,000,000 |
| Unidosus | Democracy | $2,000,000 |
| Proteus Action League | Rights & justice | $1,799,000 |
| The Voter Participation Center | General support | $1,000,000 |
| Reframe | Rights & justice | $750,000 |
| Southern Poverty Law Center Inc | Democracy | $500,000 |
| Rethink Media Inc | Rights & justice | $340,000 |
| The Greater New Orleans Foundation | Rights & justice | $305,000 |
| Nonprofit Vote Inc | General support | $300,000 |
| Social and Environmental Entrepreneurs Inc | Rights & justice | $276,250 |
| The Open Mind Legacy Project Inc | Rights & justice | $250,000 |
| Defending Rights and Dissent Inc | Rights & justice | $240,500 |
| Roderick and Solange Macarthur Justice Center | Rights & justice | $200,000 |
| Fractured Atlas Inc | Rights & justice | $200,000 |
| Woven Collective Inc | Democracy | $199,146 |
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Frequently asked questions
- Is Proteus Fund Inc a legitimate nonprofit?
- Yes. Proteus Fund Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-3243004, based in Waltham, Massachusetts. Donations are tax-deductible.
- What is Proteus Fund Inc's EIN?
- Proteus Fund Inc's Employer Identification Number (EIN) is 04-3243004.
- How much revenue does Proteus Fund Inc report?
- Proteus Fund Inc reported $43,200,431 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Proteus Fund Inc's spending goes to programs?
- Proteus Fund Inc spends about 81% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Proteus Fund Inc have?
- CharityIndex grades Proteus Fund Inc B+, based on program efficiency and fundraising cost.
- How much does Proteus Fund Inc's highest-paid employee make?
- The highest reported compensation on Proteus Fund Inc's latest Form 990 is $369,231, paid to Paul Di Donato (President & Ceo).
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Data for Proteus Fund Inc (EIN 04-3243004) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.