| DONOR ADVISED FUND: PROGRAM SERVICE (CONTINUED) |
FORM 990 PART III LINE 4A - Received a combined total of $50.7 million in donor-advised contributions from more than 360,000 donors across the country resulting in over 52,000 grants to more than 14,000 charities and schools. - Distributed 94.87% of donor advised contributions received in 2014, when taking into account the timing difference created by the monthly granting schedule. The Foundation records the grant expenses for December advised contributions in the following calendar year. In January 2015, the Foundation disbursed the remainder of the funds received and advised in 2014. |
| GIVING DAYS: PROGRAM SERVICE (CONTINUED) |
FORM 990 PART III LINE 4B Leader boards track the organizations receiving the most donor-advised grants by amount and by number of donors, creating an exciting and competitive environment for stimulating charitable giving. During 2014, the partnering foundations provided over $5.2 million in matching grants to nonprofits receiving donor-advised grants during the events. These matching grants were also a key incentive for both nonprofits and donors to become involved in their community-giving event. Additionally, the giving events provided educational opportunities for participating nonprofits to learn about online fundraising, about social media outreach, and how to greatly expand their network of donors and volunteers. The initiatives undertaken by the Razoo Foundation beginning in 2011 continue to expand and have proven instrumental in providing educational resources for the partnering foundations and nonprofits, enabling each partnering nonprofit to successfully execute their giving event within the community it serves. |
| EDUCATION: PROGRAM SERVICE CONTINUED) |
FORM 990 PART III LINE 4D The Razoo Foundation Board of Directors manages philanthropic educational initiatives via a fund it created in 2012. The Board allocates approximately 20% of the Razoo Foundation's undesignated and unrestricted operating funds to the fund each year. In 2014, the Razoo Foundation supported Everyone's Kids, Everyone Gives giving day effort to raise funds for anti-sex trafficking organizations working in the US. The Razoo Foundation spearheaded educational training with nonprofits participating in the giving event, encouraging innovative methods in online giving and capacity building. - Razoo Foundation operated the web blog Inspiring Generosity through the generous gift of Razoo Global Corporation. The blog, hosted at razoofoundation.org/blog received over 17,000 unique visitors in December 2014. Razoo Foundation has contracted with several well-known bloggers in the nonprofit industry to provide engaging, helpful, and educational content to nonprofits, fundraisers, and donors alike. This content is designed to engage and encourage innovative and effective methods in fostering the democratization of philanthropy through state of the art technology and e-solutions. Expenses allocated to philanthropic educational activities include nonprofit training and educational program service expenses as well as an estimated portion of legal program service expenses for DAF and other educational research. |
| Business Relationships |
FORM 990 PART VI LINE 2 THERE WAS A BUSINESS RELATIONSHIP BETWEEN ROBERT LOTINSKY, LESLEY MANSFORD, THOMAS MATTHEWS, AND BRYCE MELVIN, WHEREBY THE NAMED INDIVIDUALS WERE EACH EMPLOYEES OF RAZOO GLOBAL CORPORATION. ROBERT LOTINSKY DID NOT SERVE AS AN EMPLOYEE OF BOTH ORGANIZATIONS CONCURENTLY. MARK STOLESON WAS A DIRECTOR OF RAZOO GLOBAL CORPORATION. |
| committees |
FORM 990 PART VI LINE 8B razoo foundation has no committees with authority to act on behalf of its board of directors. |
| form 990 REVIEW PROCESS |
FORM 990 PART VI LINE 11B the form 990 is prepared by outside accountants and reviewed by the management and board of directors prior to filing with the irs. |
| moniTORING CONFLICT OF INTEREST POLICY |
FORM 990 PART VI LINE 12C razoo foundation's conflict of interest policy requires any director, officer, or management employee to fully and promptly disclose any possible conflict of interest to the President or Secretary of the Foundation. The policy further requires annual submission of a conflicts of interest disclosure questionnaire within 10 days of the annual board meeting, confirming that all conflicts and potential conflicts have been disclosed. |
| certAIN DOCUMENTS AVAILABLE TO THE PUBLIC |
FORM 990 PART VI LINE 19 the foundation makes its governing documents, conflict of interest policy and financial statements available to the public upon request. |
| commITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF AUDIT |
FORM 990 PART XII LINE 2C The Foundation's Board is currently an effective working size, and therefore has not delegated responsibility for the financial audit to a committee. Thus the Board assumes the role and responsibility of an audit committee and oversees the review and audit of the Foundation's financial statements and the selection of an independent accountant. |
Attach to Form 990 or 990-EZ.