Raymond James Charitable Endowment Fund
SUPPORTING PHILANTHROPY THROUGH DONOR ADVISED FUNDS THAT SIMPLIFY GIVING AND MAXIMIZE IMPACT.
IRS Tax Year 2023
Period ending March 31, 2024
Total Revenue
$580.4M
Total Expenses
$326.1M
Net Assets
$1.9B
Employees
0
Volunteers
2
Grants Paid
$313.5M
Program Expense Ratio
97.5%
Fundraising Efficiency
303302.7%
This nonprofit profile presents IRS Form 990 tax filing data for Raymond James Charitable Endowment Fund (EIN: 59-3652538), based on the 2023 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Raymond James Charitable Endowment Fund is a 501(c)(3) nonprofit headquartered in ST PETERSBURG, FL, founded in 2000. It is classified under NTEE code T30 (Public Foundations), within the Philanthropy, Voluntarism & Grantmaking category. The organization has held tax-exempt status since 2000. In its 2023 filing, the organization reported $580.4M in total revenue, a 42.1% increase from the prior year, and $326.1M in total expenses. The organization engaged 2 volunteers. FRANCES NEU, TRUSTEE, is the highest-compensated individual at $24,000. The organization runs 1 program, totaling $317.9M in program expenses. 5 of 6 recommended governance policies are in place.
Raymond James Charitable Endowment Fund is classified under NTEE code T30 (Public Foundations), which falls within the Philanthropy, Voluntarism & Grantmaking category. Its foundation type is 15.
Programs(Tax Year 2023)
1 record
Raymond James Charitable Endowment Fund operates 1 program, with total program expenses of $317.9M. Raymond James Charitable Endowment Fund's largest program accounts for 100% of total program spending.
THE RJCEF OPERATES DONOR-ADVISED FUNDS AS THE CORE OF ITS CHARITABLE OPERATIONS. DURING THE CURRENT FISCAL YEAR, THE NUMBER OF DONOR ADVISED FUNDS INCREASED TO 9,714. THE RJCEF BOARD OF TRUSTEES LAUNCHED ITS GRANT INITIATIVE PROGRAM DURING THE PERIOD, ACCEPTING APPLICATIONS AND SUPPORTING A VARIETY OF ORGANIZATIONS FROM ITS GENERAL FUNDS IN ADDITION TO GRANTS DISTRIBUTED FROM DONOR ADVISED FUNDS. THE RJCEF MADE GRANTS TO DIFFERENT 501(C)(3) PUBLIC CHARITIES DURING THE FISCAL YEAR. TOTAL GRANT EXPENSE PAID OR ACCRUED AMOUNTED TO $313,543,977. THE GRANTS WERE MADE TO U.S. IRS APPROVED, TAX-EXEMPT ORGANIZATIONS IN THE FOLLOWING BROAD CATEGORIES: 30% FAITH BASED ORGANIZATIONS, 16% EDUCATION AND SCHOOL ORGANIZATIONS, 21% SOCIAL SERVICES ORGANIZATIONS, 16% VARIOUS OTHER PUBLIC CHARITABLE ORGANIZATIONS, 8% MEDICINE AND SCIENCE ORGANIZATIONS, 5% ARTS, CULTURE AND MUSEUM ORGANIZATIONS, AND 4% ENVIRONMENT AND ANIMAL ORGANIZATIONS.
Financial Overview(Tax Years 2019–2023)
5 records
Over the past 5 years, Raymond James Charitable Endowment Fund's revenue has grown from $335.8M to $580.4M, a 72.8% increase. Program expenses represent 97% of total spending.
Revenue increased 42.1% year-over-year, while expenses grew 25.9%. net assets rose to $1.9B, up 28.1% from the prior year.
Raymond James Charitable Endowment Fund derives 89% from contributions and grants, with 11% from investment income.
Revenue is primarily driven by contributions and grants (89%), with investment income at 11%.
Raymond James Charitable Endowment Fund allocates 97% to programs, 2% to management and general, 0% to fundraising.
Revenue grew by 42.1% while expenses grew by only 25.9%, suggesting improving operational efficiency.
Raymond James Charitable Endowment Fund distributed $313.5M in grants to other organizations and individuals, representing 96% of total expenses.
Over 5 filings from 2019–2023, Raymond James Charitable Endowment Fund grew revenue from $335.8M to $580.4M (+72.8%) while maintaining a program expense ratio of 97%.
Raymond James Charitable Endowment Fund holds $1.9B in total assets against $9.5M in liabilities (debt-to-asset ratio of 0%). The organization has 70.8 months of operating reserves. Cash and equivalents of $190K cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2023 | $580.4M | $518.5M | $0 | $0 | $61.8M |
| 2022 | $408.4M | $374.3M | $0 | $0 | $33.6M |
| 2021 | $761.8M | $668.9M | $0 | $0 | $92.7M |
| 2020 | $358.5M | $311.0M | $0 | $0 | $47.5M |
| 2019 | $335.8M | $301.1M | $0 | $0 | $34.7M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2023 | $326.1M | $317.9M | $8.0M | $171K | $313.5M |
| 2022 | $259.0M | $256.6M | $2.2M | $294K | $248.4M |
| 2021 | $391.2M | $388.9M | $2.0M | $185K | $381.1M |
| 2020 | $174.5M | $169.6M | $4.7M | $212K | $167.0M |
| 2019 | $141.9M | $140.9M | $799K | $264K | $136.1M |
Program Expense Ratio
97.5%
Admin Expense Ratio
2.5%
Fundraising Efficiency
303302.7%
Operating Reserve
70.8 mo
People & Compensation(Tax Year 2023)
7 records
Raymond James Charitable Endowment Fund reported compensation for 7 officers and key employees. Total officer compensation was $87K, representing 0.0% of total expenses.
Raymond James Charitable Endowment Fund's highest-compensated individual received $24K in total compensation. Total officer compensation of $87K represents 0.0% of total expenses.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| FRANCES NEU | TRUSTEE | Director | 5.00 | $24,000 | $0 | $24,000 |
| ELIZABETH BRADY | TRUSTEE | Director | 5.00 | $16,000 | $0 | $16,000 |
| JEFFREY GALLAGHER | TRUSTEE | Director | 5.00 | $16,000 | $0 | $16,000 |
| THOMAS WILKINS | TRUSTEE/CHAIRMAN | OfficerDirector | 5.00 | $15,500 | $0 | $15,500 |
| LAUREN NICOLE JOHNSON | TRUSTEE | Director | 5.00 | $15,500 | $0 | $15,500 |
| SCOTT ZEBRA | TRUSTEE | Director | 5.00 | $0 | $0 | $0 |
| ERIK FRULAND | TRUSTEE/CFO | OfficerDirector | 5.00 | $0 | $0 | $0 |
Top Contractors(Tax Year 2023)
3 records
Raymond James Charitable Endowment Fund reported 3 contractors receiving over $100,000, with total contractor payments of $9.5M.
| Name | Service | Compensation |
|---|---|---|
| RAYMOND JAMES TRUST NA | ADMIN SVC&INV MGMT | $8,896,126 |
| RAYMOND JAMES ASSOCIATES | INVESTMENT MGMT | $498,712 |
| ROPES GRAY LLP | LEGAL SERVICES | $135,231 |
Governance & Compliance(Tax Year 2023)
Raymond James Charitable Endowment Fund has 5 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 6 members, 6 of whom are independent.
Raymond James Charitable Endowment Fund's financial statements are audited, an audit committee oversees the process, accounting follows GAAP standards.
Raymond James Charitable Endowment Fund delegates management duties to an outside firm.
Policies & Oversight
Audit & Financial Oversight
Insider Transactions(Tax Year 2023)
1 record
Unknown person — FOUNDER
Grants Awarded(Tax Year 2023)
6906 records
Raymond James Charitable Endowment Fund awarded $288.7M across 6906 grants to organizations. Top recipients include SCHWAB CHARITABLE FUND AKA SCHWAB FUND FOR CHARITA (OMAHA, NE) — $9.8M for general support; FIDELITY INVESTMENTS CHARITABLE GIFT FUND (CINCINNATI, OH) — $8.1M for general support; GOLDMAN SACHS PHILANTHROPY FUND (NEW YORK CITY, NY) — $6.6M for general support.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| SCHWAB CHARITABLE FUND AKA SCHWAB FUND FOR CHARITA311640316 | OMAHA, NE | $9.8M | GENERAL SUPPORT |
| FIDELITY INVESTMENTS CHARITABLE GIFT FUND110303001 | CINCINNATI, OH | $8.1M | GENERAL SUPPORT |
| GOLDMAN SACHS PHILANTHROPY FUND311774905 | NEW YORK CITY, NY | $6.6M | GENERAL SUPPORT |
| JAMES MUSEUM OF WESTERN ART474364053 | ST PETERSBURG, FL | $5.1M | GENERAL SUPPORT |
| THE CLEAR FUND AKA GIVEWELL208625442 | OAKLAND, CA | $4.5M | GENERAL SUPPORT |
| EDWARD CHARLES FOUNDATION264245043 | BEVERLY HILLS, CA | $3.2M | GENERAL SUPPORT |
| THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS870234341 | SALT LAKE CITY, UT | $3.1M | GENERAL SUPPORT |
| MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC527082731 | NEW YORK, NY | $3.0M | GENERAL SUPPORT |
| NATIONAL PHILANTHROPIC TRUST237825575 | JENKINTOWN, PA | $1.9M | GENERAL SUPPORT |
| BANK OF AMERICA CHARITABLE GIFT FUND046010342 | BOSTON, MA | $1.5M | GENERAL SUPPORT |
| UT SOUTHWESTERN MEDICAL CENTER756002868 | DALLAS, TX | $1.4M | GENERAL SUPPORT |
| SAM SCHMIDT FOUNDATION DBA CONQUER PARALYSIS NOW431878305 | LAS VEGAS, NV | $1.4M | GENERAL SUPPORT |
| YOUNG LIFE840385934 | HARLAN, IA | $1.3M | GENERAL SUPPORT |
| SOUTH HILLS CATHOLIC ACADEMY851426739 | PITTSBURGH, PA | $1.3M | GENERAL SUPPORT |
| TURNING POINT USA INC800835023 | PHOENIX, AZ | $1.2M | GENERAL SUPPORT |
| NEW VILLAGE FOUNDATION INC854205412 | PARK RAPIDS, MN | $1.2M | GENERAL SUPPORT |
| ST JUDE CHILDREN'S RESEARCH HOSPITAL INC620646012 | MEMPHIS, TN | $1.2M | GENERAL SUPPORT |
| AMERICAN ENDOWMENT FOUNDATION341747398 | HUDSON, OH | $1.1M | GENERAL SUPPORT |
| SERVANT FOUNDATION DBA THE SIGNATRY431890105 | OVERLAND PARK, KS | $1.1M | GENERAL SUPPORT |
| DOCTORS WITHOUT BORDERS USA INC AKA MSF MEDECINS133433452 | HAGERSTOWN, MD | $1.0M | GENERAL SUPPORT |
Showing 20 of 6906 grants.
Supplemental Financial Data(Tax Year 2023)
Raymond James Charitable Endowment Fund operates a donor-advised fund (DAF) program with 9,714 accounts. The endowment stands at $5.6M.
Filing History(Tax Years 2000–2023)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2023 | 990 | 2023-04-01 – 2024-03-31 | $580.4M | $326.1M | $1.9B |
| 2022 | 990 | 2022-04-01 – 2023-03-31 | $408.4M | $259.0M | $1.5B |
| 2021 | 990 | 2021-04-01 – 2022-03-31 | $761.8M | $391.2M | $1.4B |
| 2020 | 990 | 2020-04-01 – 2021-03-31 | $358.5M | $174.5M | $1.1B |
| 2019 | 990 | 2019-04-01 – 2020-03-31 | $335.8M | $141.9M | $763.7M |
| 2000–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Raymond James Charitable Endowment Fund do?
SUPPORTING PHILANTHROPY THROUGH DONOR ADVISED FUNDS THAT SIMPLIFY GIVING AND MAXIMIZE IMPACT.
How much revenue does Raymond James Charitable Endowment Fund have?
Raymond James Charitable Endowment Fund reported $580,390,634 in total revenue for tax year 2023, up 42.1% from the prior year.
Who is the highest-paid executive at Raymond James Charitable Endowment Fund?
FRANCES NEU, TRUSTEE, received $24,000 in total compensation as of tax year 2023.
Is Raymond James Charitable Endowment Fund a 501(c)(3)?
Yes, Raymond James Charitable Endowment Fund is classified as a 501(c)(3) tax-exempt organization.
Where is Raymond James Charitable Endowment Fund located?
Raymond James Charitable Endowment Fund is headquartered in ST PETERSBURG, FL 337423559.
What type of nonprofit is Raymond James Charitable Endowment Fund?
Raymond James Charitable Endowment Fund is classified under NTEE code T30 (Public Foundations), within the Philanthropy, Voluntarism & Grantmaking category. It is a 501(c)(3) tax-exempt organization.
Is Raymond James Charitable Endowment Fund audited?
Yes, Raymond James Charitable Endowment Fund's financial statements are audited, and the organization has an audit committee.
How much does Raymond James Charitable Endowment Fund spend on fundraising?
Raymond James Charitable Endowment Fund reported $170,949 in fundraising expenses for tax year 2023, which represents 0.1% of total expenses.
Does Raymond James Charitable Endowment Fund give grants?
Yes, Raymond James Charitable Endowment Fund distributed $313,543,977 in grants to other organizations and individuals in tax year 2023. Top recipients include SCHWAB CHARITABLE FUND AKA SCHWAB FUND FOR CHARITA, FIDELITY INVESTMENTS CHARITABLE GIFT FUND, GOLDMAN SACHS PHILANTHROPY FUND.
Data Source
Prepared by: PwC US Tax LLP, WASHINGTON, DC
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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