Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
NATIONAL ENDOWMENT FOR
FINANCIAL EDUCATION
Number and street (or P.O. box number if mail is not delivered to street address)1550 MARKET STREET SUITE 475
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DENVER, CO80202
A Employer identification number

84-0632115
B Telephone number (see instructions)

(303) 741-6333
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$187,515,923J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 66,524
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,537,394 1,537,394 1,537,394
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
2,023,883
b Gross sales price for all assets on line 6a 3,234,768
7 Capital gain net income (from Part IV, line 2)... 2,020,315
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,530,796 4,534,500 4,530,796
12 Total. Add lines 1 through 11........ 8,158,597 8,092,209 6,068,190
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 916,109 39,298 39,298 876,811
14 Other employee salaries and wages...... 2,702,771 56,417 56,417 2,646,354
15 Pension plans, employee benefits....... 1,056,277 52,047 52,047 1,004,230
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
78,386 547 547 77,839
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
51,400 5,140 5,140 46,260
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
287,277 287,277 287,277  
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
230,000      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 682,488 13,632 13,632 668,856
21 Travel, conferences, and meetings....... 455,172 4,581 4,581 450,591
22 Printing and publications.......... 13,188 43 43 13,145
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,032,565 13,554 13,554 3,019,011
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 9,505,633 472,536 472,536 8,803,097
25 Contributions, gifts, grants paid....... 590,568 590,568
26 Total expenses and disbursements. Add lines 24 and 25 10,096,201 472,536 472,536 9,393,665
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,937,604
b Net investment income (if negative, enter -0-) 7,619,673
c Adjusted net income (if negative, enter -0-)... 5,595,654
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 12,341,234 8,050,405 8,050,405
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 23,717,755 Click to see attachment
List of Attached Documents:
// Content
26,851,167 		34,092,107
c Investments—corporate bonds (attach schedule)....... 11,067,710 Click to see attachment
List of Attached Documents:
// Content
8,579,656 		8,046,189
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 99,748,949 Click to see attachment
List of Attached Documents:
// Content
101,456,816 		137,327,222
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 146,875,648 144,938,044 187,515,923
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 146,875,648 144,938,044
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 146,875,648 144,938,044
30 Total liabilities and net assets/fund balances (see instructions). 146,875,648 144,938,044
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
146,875,648
2
Enter amount from Part I, line 27a .....................
2
-1,937,604
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
144,938,044
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
144,938,044
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a AEW GLOBAL PROPERTY SECURITIES P    
b DAVIDSON KEMPNER INSTITUTIONAL P    
c SIGULER GUFF DIS OPP 4 P    
d WELLINGTON DURABLE COMPANIES P    
e AEW GLOBAL PROPERTY SECURITIES P    
FORESTER DIVERSIFIED LTD P    
SILCHESTER INTERNATIONAL P    
AULDBRASS PARTNERS SECONDARY OPPORTU P    
FORTRESS CREDIT OPP FUND V P    
SILCHESTER INTERNATIONAL P    
BRECKINRIDGE CAPITAL ADVISORS P    
INDUSTRY VENTURE PARTNERS V P    
STEPSTONE (FKA GREENSPRING) 8 P    
BRECKINRIDGE CAPITAL ADVISORS P    
INDUSTRY VENTURE PARTNERS V P    
STEPSTONE (FKA GREENSPRING) 8 P    
CAPITAL GROUP AMERICAN FUNDS EUROPAC P    
INDUSTRY VENTURE PARTNERS VI P    
STEPSTONE (FKA GREENSPRING) 9 P    
CITY OF LONDON P    
INDUSTRY VENTURE PARTNERS VI P    
STEPSTONE (FKA GREENSPRING) 9 P    
CITY OF LONDON P    
OVERLOOK PARTNERS P    
ULTRA SHORT DURATION SMA P    
COMMONFUND PEP VI P    
OVERLOOK PARTNERS P    
VANGUARD FTSE EM ETF P    
COMMONFUND PEP VI P    
PARAMETRIC P    
VANGUARD SHORT-TERM TIPS P    
COMMONFUND PEP VII P    
PARAMETRIC P    
VANGUARD SHORT-TERM TIPS P    
COMMONFUND PEP VII P    
RBC GLOBAL ASSET MANAGEMENT P    
VISTRA P    
COMMONFUND VP XI P    
SIGULER GUFF DIS OPP 3 P    
VULCAN VALUE PARTNERS LARGE CAP P    
COMMONFUND VP XI P    
SIGULER GUFF DIS OPP 3 P    
VULCAN VALUE PARTNERS LARGE CAP P    
DAVIDSON KEMPNER INSTITUTIONAL P    
SIGULER GUFF DIS OPP 4 P    
WELLINGTON DURABLE COMPANIES P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a     256,791 -256,791
b 127,007     127,007
c 49     49
d 15,383     15,383
e     21,527 -21,527
273,661     273,661
130,775     130,775
290     290
10,037     10,037
    6,181 -6,181
    116,946 -116,946
141,182     141,182
45,124     45,124
    31,046 -31,046
    1,956 -1,956
12,835     12,835
80,494     80,494
113     113
135,617     135,617
    126,739 -126,739
1,008     1,008
3,207     3,207
    69,967 -69,967
    51,222 -51,222
    6,288 -6,288
6,906     6,906
    3,591 -3,591
    1 -1
13     13
62,851     62,851
4     4
65,156     65,156
    7,693 -7,693
    149,992 -149,992
125     125
    319,721 -319,721
1,149     1,149
128,804     128,804
    4,949 -4,949
1,346,498     1,346,498
    581 -581
    669 -669
119,773     119,773
84,819     84,819
    34,736 -34,736
438,031     438,031
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -256,791
b       127,007
c       49
d       15,383
e       -21,527
      273,661
      130,775
      290
      10,037
      -6,181
      -116,946
      141,182
      45,124
      -31,046
      -1,956
      12,835
      80,494
      113
      135,617
      -126,739
      1,008
      3,207
      -69,967
      -51,222
      -6,288
      6,906
      -3,591
      -1
      13
      62,851
      4
      65,156
      -7,693
      -149,992
      125
      -319,721
      1,149
      128,804
      -4,949
      1,346,498
      -581
      -669
      119,773
      84,819
      -34,736
      438,031
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,020,315
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -104,210
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 105,913
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 105,913
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 105,913
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 251,260
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 251,260
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 145,347
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow145,347 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCO
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
Yes
 
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.NEFE.ORG
14
The books are in care ofright arrowTHE ORGANIZATION Telephone no.right arrow (303) 741-6333

Located atright arrow1550 MARKET STREET SUITE 475DENVERCO ZIP+4right arrow80202
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
 
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
RACHELLE FELDMAN MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
MARGARET LIBBY MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
COLLEEN WALKER MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
MEGAN GORMAN MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
HELEN NORRIS MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
JASON YOUNG VICE CHAIR
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
RICK KETCHUM CHAIR
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
MANISHA THAKOR MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
BILLY HENSLEY PRES. & CEO
40.00 		465,143 24,262 0
1550 MARKET STREET STE 475
DENVER,CO80202
JOANNE FLORES MOSES TREAS. & CFO
40.00 		295,392 54,993 0
1550 MARKET STREET STE 475
DENVER,CO80202
BRIAN FORD SEC. & COS
40.00 		155,574 13,422 0
1550 MARKET STREET STE 475
DENVER,CO80202
DIONNE BLUE PHD MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
JOURDAN JONES MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
ROBIN NUNN MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
CONNIE WEAVER MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
KEVIN PLUMMER MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
BOB LEWIS MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
CHRISTINE LOVELY MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
LORETTA SANCHEZ MEMBER
1.00 		0 0 0
1550 MARKET STREET STE 475
DENVER,CO80202
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
BETH BEAN SR VP
40.00 		228,201 21,229  
1550 MARKET STREET STE 475
DENVER,CO80202
ANNETTE FOWLER SR. DIR. OPE
40.00 		158,592 42,606  
1550 MARKET STREET STE 475
DENVER,CO80202
PAUL GOLDEN MD MEDIA
40.00 		119,302 27,622  
1550 MARKET STREET STE 475
DENVER,CO80202
AMARIE FISHER SR. DIR & CO
40.00 		117,838 18,345  
1550 MARKET STREET STE 475
DENVER,CO80202
AMELIA CONRAD MD INSIGHTS
40.00 		117,676 6,686  
1550 MARKET STREET STE 475
DENVER,CO80202
Total number of other employees paid over $50,000...................right arrow 20
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
APPALACHIAN COLLEGE ASSOCIATION PARTNERSHIP 496,178
3816 CAMELOT DRIVE OFC
LEXINGTON,KY40517
FOUNDATION FOR COLORADO COMMUNITY
COLLEGES 		PARTNERSHIP 457,407
9101 E LOWRY BLVD
DENVER,CO80230
CAMBRIDGE ASSOCIATES INV ADVISOR 171,374
115 FEDERAL STREET SUITE 200
BOSTON,MA02110
SYLOGIST MISSION
(FKA SERENIC SOFTWARE) 		CONSULTING 160,603
10354 W CHATFIELD AVE SUITE 200
LITTLETON,CO80127
MERIPLEX TECH CONSULT 145,196
10111 RICHMOND AVE SUITE 500
HOUSTON,TX77042
Total number of others receiving over $50,000 for professional services.............right arrow16
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 RESEARCH AND GRANT FUNDING THROUGH SUPPORT AND MANAGEMENT OF RIGOROUS RESEARCH, NEFE IDENTIFIES KNOWLEDGE GAPS AND SEEKS EVIDENCE OF WHAT WORKS BEST IN THE APPLICATION OF FINANCIAL EDUCATION IN ORDER TO LAY THE GROUNDWORK FOR GREATER FUTURE IMPACT. FUNDING IS PROVIDED FOR RESEARCH THAT HAS THE POTENTIAL TO MAKE A PROFOUND CONTRIBUTION TO THE FIELD OF FINANCIAL EDUCATION AND SEEKS TO IMPROVE THE PUBLIC'S FINANCIAL WELL-BEING. NEFE APPROVED FUNDING TO THREE GRANT APPLICANTS IN 2023, BRINGING THE NUMBER OF RESEARCH STUDIES CURRENTLY IN PROGRESS TO EIGHT. NEFE HAS FUNDED A TOTAL OF 43 RESEARCH PROJECTS SINCE 2006. IN ADDITION, WE ARE CONDUCTING RESEARCH ON FINANCIAL TRAUMA, THE HISTORY OF FINANCIAL EDUCATION OF NATIVE COMMUNITIES, A CULTURAL RELEVANCY SCALE, AND BUILDING A STANDARDIZED ASSESSMENT TO PROVIDE TEACHERS WITH A RELIABLE, PROGRAM AGNOSTIC TOOL TO EVALUATE STUDENT LEARNING. FINANCIAL EDUCATION INNOVATION AND IMPACT SUMMIT THROUGHOUT 2023, NEFE SHARED AND PUBLISHED CONTENT RELATED 7,371,846
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
182,589,701
b
Average of monthly cash balances.......................
1b
0
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
182,589,701
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
182,589,701
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
2,738,846
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
179,850,855
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
8,992,543
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
 
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
 
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
9,393,665
b
Program-related investments—total from Part VIII-B..................
1b
 
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
9,393,665
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7  
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$  
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount.....  
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2023.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		 
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
2005-06-24
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
5,595,654   5,069,017 5,428,078 16,092,749
b 85% (0.85) of line 2a ......... 4,756,306   4,308,664 4,613,866 13,678,836
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		9,393,665 7,889,055 6,677,478 7,049,930 31,010,128
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		590,568 786,411 416,662 453,366 2,247,007
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		8,803,097 7,102,644 6,260,816 6,596,564 28,763,121
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		5,995,029 6,126,090 6,419,477 5,455,781 23,996,377
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
APPLICATIONS SHOULD BE SUBMITTED TO
1550 MARKET STREET SUITE 475
DENVER,CO80202
(303) 741-6333
NEFE.ORG
bThe form in which applications should be submitted and information and materials they should include:
APPLICANTS MUST SUBMIT A LETTER OF INQUIRY FORM AS THE FIRST STEP TO BEING CONSIDERED FOR FUNDING. THE FORM IS AVAILABLE ON NEFE'S WEBSITE AT NEFE.ORG
cAny submission deadlines:
NEFE ACCEPTS LETTERS OF INQUIRY ONCE PER YEAR, FROM SEPTEMBER 15 TO NOVEMBER 15.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NEFE DOES NOT FUND PROJECTS THAT: O HAVE COMMERCIAL OR PROPRIETARY ELEMENTS. O ARE RELATED TO THE PILOT, DEVELOPMENT, EXECUTION, EVALUATION, EXPANSION OR ADMINISTRATION OF SPECIFIC PROGRAMS, COURSES OR CURRICULA.
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

THE URBAN INSTITUTE

500 LENFANT PLAZA SW
WASHINGTON,DC20024 		NONE PC RESEARCH GRANT 90,000

THE UNIVERSITY OF ALABAMA

318 ROSE ADMINISTRATION
BUILDING BOX 870135
TUSCALOOSA,AL35487 		NONE PC RESEARCH GRANT 30,548

THE RAND CORPORATION

1776 MAIN STREET
PO BOX 2138
SANTA MONICA,CA90407 		NONE PC RESEARCH GRANT 109,802

TEXAS TECH UNIVERSITY

PO BOX 41092
LUBBOCK,TX794091092 		NONE PC RESEARCH GRANT 22,283

MONTANA STATE UNIVERSITY

328 MONTANA HALL
PO BOX 172470
BOZEMAN,MT59717 		NONE PC RESEARCH GRANT 109,388

ST LOUIS UNIVERSITY

3545 LINDELL BLVD
ST LOUIS,MO63103 		NONE PC RESEARCH GRANT 177,379

UNIVERSITY OF TENNESSEE

121 MORGAN HALL
KNOXVILLE,TN37996 		NONE PC RESEARCH GRANT 51,168
Total .................................right arrow 3a 590,568
bApproved for future payment

MONTANA STATE UNIVERSITY
328 MONTANA HALL
PO BOX 172470
BOZEMAN,MT59717 		NONE PC RESEARCH GRANT 200,000

THE UNIVERSITY OF ALABAMA
318 ROSE ADMINISTRATION
BUILDING BOX 870135
TUSCALOOSA,AL35487 		NONE PC RESEARCH GRANT 123,588

LEWIS AND CLARK COLLEGE
615 S PALATINE HILL RD
PORTLAND,OR97219 		NONE PC RESEARCH GRANT 116,265
Total ................................. right arrow 3b 439,853
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 1,537,394  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		523000 3,568 18 2,020,315  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPASS-THROUGH ENTITIES 		    14 4,534,500  
bPASS-THROUGH ENTITIES UBTI 523000 -3,704      
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -136 8,092,209  
13Total. Add line 12, columns (b), (d), and (e)..................
13
8,092,073
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
NATIONAL ENDOWMENT FOR
FINANCIAL EDUCATION
Employer identification number

84-0632115
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
NATIONAL ENDOWMENT FOR
FINANCIAL EDUCATION 		Employer identification number
84-0632115
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
CY PRES FOLEY V STUDENT ASSISTANCE
1840 CENTURY PARK EAST
 
LOS ANGELES, CA90067

$ 63,983


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
NATIONAL ENDOWMENT FOR
FINANCIAL EDUCATION 		Employer identification number

84-0632115
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
NATIONAL ENDOWMENT FOR
FINANCIAL EDUCATION 		Employer identification number

84-0632115
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
KUNDINGER, CORDER & MONTOYA, PC 51,400 5,140 5,140 46,260

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TY 2023 GainLossSaleOtherAssetsSch
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
AULDBRASS PARTNERS SECONDARY OPPORTU   PURCHASE       289     -289  
COMMONFUND PEP VI - UBTI   PURCHASE     1       1  
COMMONFUND VP XI - UBTI   PURCHASE     3,468       3,468  
INDUSTRY VENTURE PARTNERS VI - UBTI   PURCHASE     163       163  
STEPSTONE (FKA GREENSPRING) 8 UBTI   PURCHASE     225       225  

TY 2023 InvestmentsCorpBondsSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Name of Bond End of Year Book Value End of Year Fair Market Value
DODGE & COX INCOME FUND 4,244,907 4,100,992
RBC GLOBAL ASSET MANAGEMENT 4,334,749 3,945,197

TY 2023 InvestmentsCorpStockSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Name of Stock End of Year Book Value End of Year Fair Market Value
PUBLICLY TRADED SECURITIES 26,851,167 34,092,107

TY 2023 InvestmentsOtherSchedule2
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AEW GLOBAL PROPERTY SECURITIES FUND AT COST 8,115,341 8,494,229
ALPINE INVESTORS IX-A AT COST 271,406 271,406
AULDBRASS PTNRS SECONDARY OPP FUND AT COST 1,547,250 1,566,060
CIM ENTERPRISE LOAN FUND AT COST 6,635,260 7,389,398
CITY OF LONDON EM INVESTABLE FUND AT COST 2,052,792 3,619,060
COMMONFUND INTL PIP AT COST 162,531 58,324
COMMONFUND PIP VII AT COST 107,899 154,979
COMMONFUND VENTURE PARTNERS XI AT COST 1,508,136 4,128,600
DE SHAW BROAD MARKET AT COST 17,322,985 17,340,382
DAVIDSON KEMPNER INSTITUTIONAL PTNR AT COST 8,059,746 15,938,323
FORESTER DIVERSIFIED LTD AT COST 1,044,229 1,740,087
FORTRESS CREDIT OPP FUND V AT COST 805,523 831,389
HARBOURVEST DOVER STREET 08 AT COST   148,553
HARBOURVEST DOVER STREET 09 AT COST   1,797,012
HARBOURVEST DOVER STREET 10 AT COST 2,949,604 5,351,875
HARBOURVEST DOVER STREET XI AT COST 850,000 1,108,235
HARBORVEST REAL ASSETS 4 FEEDER FUND AT COST 2,489,709 3,836,266
INDUSTRY VENTURE AT COST 968,752 1,164,080
INDUSTRY VENTURE PARTNERS HOLDINGS AT COST 2,629,531 5,410,739
NB SECONDARY OPP AT COST 1,569,140 2,045,692
NIO INFRASTRUCTURE FEEDER FUND II AT COST 441,882 516,384
OVERLOOK PARTNERS AT COST 4,016,653 3,839,811
OWNERSHIP CAPITAL GLOBAL EQUITY FUND AT COST 6,539,533 6,956,442
PARAMETRIC AT COST 2,815,006 3,206,647
PRESERVER AT COST 681,715 813,600
PRIME FINANCE AT COST 1,481,926 1,211,028
SIGULER GUFF DISS OPP FUND 3 AT COST 27,477 89,081
SIGULER GUFF DISS OPP FUND 4 AT COST 549,933 455,771
SILCHESTER INTERNATIONAL AT COST 14,257,059 16,308,930
STEPSTONE (FKA GREENSPRING) 8 AT COST 1,516,072 2,714,051
STEPSTONE (FKA GREENSPRING) 9 AT COST 2,242,932 3,434,909
VISTRIA FUND (FT) AT COST 488,864 445,021
WELLINGTON ARCHIPELAGO PARTNERS AT COST 293,176 7,123,308
WELLINGTON DURABLE COMPANIES AT COST 7,014,754 7,817,550

TY 2023 LegalFeesSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SHERIDAN ROSS 22,602     22,602
LEAFFER LAW GROUP 21,545 328 328 21,217
BCLP 10,960 219 219 10,741
SCHAUBLE LAW GROUP LLC 23,279     23,279


TY 2023 OtherExpensesSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
RESEARCH/POLICY/ADVOCACY 14,063 36 36 14,027
SPONSORSHIPS/COMM/MARKETING 455,256 300 300 454,956
BUSINESS EXPENSES 98,289 1,830 1,830 96,459
CONSULTING 885,464 6,011 6,011 879,453
COMMISSIONED RESEARCH 219,480     219,480
STRATEGIC PARTNERSHIPS 839,423     839,423
COMPUTER, SOFTWARE, WEBSITES 520,590 5,377 5,377 515,213


TY 2023 OtherIncomeSchedule2
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PASS-THROUGH ENTITIES 4,534,500 4,534,500 4,534,500
PASS-THROUGH ENTITIES UBTI -3,704   -3,704


TY 2023 OtherProfessionalFeesSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
CAMBRIDGE ASSOCIATES, LLC 171,374 171,374 171,374  
VULCAN VALUE PARTNERS, LLC 26,382 26,382 26,382  
BRECKINRIDGE CAPITAL ADVISORS, I 4,843 4,843 4,843  
WELLINGTON TRUST CO. 54,484 54,484 54,484  
KEYBANK 24,670 24,670 24,670  
PARAMETRIC 5,524 5,524 5,524  


TY 2023 TaxesSchedule
Name:
NATIONAL ENDOWMENT FOR
 
FINANCIAL EDUCATION
EIN:
84-0632115
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
2023 ESTIMATED EXCISE TAXES 230,000