TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024

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 If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$192,269,919J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	23,875
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	1,732,195		1,732,195	1,732,195
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10	List of Attached Documents: // Content	7,780,335
b	Gross sales price for all assets on line 6a 8,627,214
7	Capital gain net income (from Part IV, line 2)...			7,781,709
8	Net short-term capital gain.........				520,918
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).......	List of Attached Documents: // Content	5,405,184	5,408,083	5,405,184
12	Total. Add lines 1 through 11........	14,941,589		14,921,987	7,658,297
13	Compensation of officers, directors, trustees, etc.	964,292		41,314	41,314	922,978
14	Other employee salaries and wages......	2,813,258		44,098	44,098	2,769,160
15	Pension plans, employee benefits.......	1,207,732		58,041	58,041	1,149,691
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	43,275	253	253	43,022
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	54,000	5,400	5,400	48,600
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	550,219	428,232	428,232	121,986
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	100,000			100,000
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............	651,703		9,327	9,327	642,376
21	Travel, conferences, and meetings.......	435,136		1,765	1,765	433,371
22	Printing and publications..........	4,260		14	14	4,246
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	2,929,091	4,259	43,894	2,885,197
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	9,752,966		592,703	632,338	9,120,627
25	Contributions, gifts, grants paid.......	654,052				654,052
26	Total expenses and disbursements. Add lines 24 and 25	10,407,018		592,703	632,338	9,774,679
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	4,534,571
b	Net investment income (if negative, enter -0-)			14,329,284
c	Adjusted net income (if negative, enter -0-)...				7,025,959

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	8,050,405	8,924,647	9,017,485
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	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).......	26,851,167	List of Attached Documents: // Content 45,148,042	52,329,631
	c	Investments—corporate bonds (attach schedule).......	8,579,656	List of Attached Documents: // Content 8,895,641	8,182,582
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	101,456,816	List of Attached Documents: // Content 86,504,285	122,740,221
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	144,938,044	149,472,615	192,269,919
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	144,938,044	149,472,615
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		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).....	144,938,044	149,472,615
	30	Total liabilities and net assets/fund balances (see instructions).	144,938,044	149,472,615

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

144,938,044

Enter amount from Part I, line 27a .....................

4,534,571

Other increases not included in line 2 (itemize) right arrow

Add lines 1, 2, and 3 ..........................

149,472,615

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

149,472,615

Form 990-PF (2024)

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
1 a	AEW SEAPORT GLOBAL PROPERTY SECURITI	P
b	DAVIDSON KEMPNER INSITUTIONAL PARTNE	P
c	PARAMETRIC	P
d	VANGUARD TOTAL STOCK INDEX FUND	P
e	AEW SEAPORT GLOBAL PROPERTY SECURITI	P
	DAVIDSON KEMPNER INSITUTIONAL PARTNE	P
	PRESERVER	P
	VANGUARD TOTAL STOCK INDEX FUND	P
	AULDBRASS PARTNERS SECONDARY OPPORTU	P
	FORESTER DIVERSIFIED LTD LONG TERM G	P
	PRESERVER	P
	VULCAN VALUE PARTNERS LARGE CAP	P
	AULDBRASS PARTNERS SECONDARY OPPORTU	P
	FORTRESS CREDIT OPPORTUNITIES FUND 5	P
	SIGULER GUFF DISTRESSED OPPORTUNITIE	P
	VULCAN VALUE PARTNERS LARGE CAP	P
	BRECKINRIDGE CAPITAL ADVISORS	P
	FORTRESS CREDIT OPPORTUNITIES FUND 5	P
	SIGULER GUFF DISTRESSED OPPORTUNITIE	P
	WELLINGTON DURABLE COMPANIES	P
	BRECKINRIDGE CAPITAL ADVISORS	P
	INDUSTRY VENTURE PTR HOLDINGS V	P
	SIGULER GUFF DISTRESSED OPPORTUNITIE	P
	WELLINGTON DURABLE COMPANIES	P
	CAPITAL GROUP AMERICAN FUNDS EUROPAC	P
	INDUSTRY VENTURE PTR HOLDINGS V	P
	SIGULER GUFF DISTRESSED OPPORTUNITIE	P
	WELLINGTON US RESEARCH	P
	CITY OF LONDON EM INVESTABLE FUND	P
	INDUSTRY VENTURE PTR HOLDINGS VI	P
	SILCHESTER INTERNATIONAL INVESTORS	P
	WELLINGTON US RESEARCH	P
	CITY OF LONDON EM INVESTABLE FUND	P
	INDUSTRY VENTURE PTR HOLDINGS VI	P
	SILCHESTER INTERNATIONAL INVESTORS	P
	COMMONFUND INTERNATIONAL PEP VI	P
	LAZARD GLOBAL LISTED	P
	STARK - SHEPARD INVESTMENTS	P
	COMMONFUND INTERNATIONAL PEP VI	P
	OVERLOOK PARTNERS	P
	STEPSTONE (FKA GREENSPRING) 8	P
	COMMONFUND PEP VII	P
	OVERLOOK PARTNERS	P
	STEPSTONE (FKA GREENSPRING) 8	P
	COMMONFUND PEP VII	P
	OWNERSHIP CAPITAL GLOBAL EQUITY	P
	STEPSTONE (FKA GREENSPRING) 9	P
	COMMONFUND VENTURE PARTNERS XI	P
	OWNERSHIP CAPITAL GLOBAL EQUITY	P
	STEPSTONE (FKA GREENSPRING) 9	P
	COMMONFUND VENTURE PARTNERS XI	P
	PARAMETRIC	P
	ULTRA SHORT DURATION SMA	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a		454,956	-454,956
b	43,005		43,005
c	2,047		2,047
d	2,121,912		2,121,912
e		77,202	-77,202
		147,862	-147,862
	40,428		40,428
	269,268		269,268
		11,793	-11,793
	289,182		289,182
	2,271		2,271
	2,269,171		2,269,171
	3		3
	348		348
		774	-774
	245,215		245,215
	4,293		4,293
		6,668	-6,668
		174	-174
	979,027		979,027
	26,693		26,693
		29,220	-29,220
	1,181		1,181
		26,204	-26,204
	234,785		234,785
	297		297
		8	-8
	204,410		204,410
		47,747	-47,747
	4,728		4,728
	1,062,359		1,062,359
	190,509		190,509
		1,213	-1,213
		651	-651
	22,432		22,432
	4,886		4,886
	34,131		34,131
	28,126		28,126
		2	-2
		17,858	-17,858
		10,349	-10,349
	15,659		15,659
	6,749		6,749
	814		814
		2	-2
	158,221		158,221
	54,108		54,108
	226,575		226,575
		12,061	-12,061
		27	-27
	9,941		9,941
	56,953		56,953
	16,753		16,753

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			-454,956
b			43,005
c			2,047
d			2,121,912
e			-77,202
			-147,862
			40,428
			269,268
			-11,793
			289,182
			2,271
			2,269,171
			3
			348
			-774
			245,215
			4,293
			-6,668
			-174
			979,027
			26,693
			-29,220
			1,181
			-26,204
			234,785
			297
			-8
			204,410
			-47,747
			4,728
			1,062,359
			190,509
			-1,213
			-651
			22,432
			4,886
			34,131
			28,126
			-2
			-17,858
			-10,349
			15,659
			6,749
			814
			-2
			158,221
			54,108
			226,575
			-12,061
			-27
			9,941
			56,953
			16,753

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	7,781,709
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 ...................		3	520,918

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	199,177
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	199,177
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	199,177
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	245,347
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	245,347
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	46,170
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax46,170	Refunded	11

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Yes

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

WWW.NEFE.ORG

The books are in care of right arrow

THE ORGANIZATION Telephone no. right arrow

(303) 741-6333

Located at right arrow

1550 MARKET STREET SUITE 475DENVERCO ZIP+4 right arrow

80202

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

16 At any time during calendar year 2024, 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 (2024)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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 2024? .............

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)):

At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2024 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 2024.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

Yes

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
JASON YOUNG	CHAIR 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	CHAIR 1.00	0	0
DIONNE BLUE PHD	VICE CHAIR 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	VICE CHAIR 1.00	0	0
RICK KETCHUM	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
RACHELLE FELDMAN	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
MEGAN GORMAN	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
JOURDAN JONES	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
NANCY KIM YUN	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
BETH LESEN PHD	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
MARGARET LIBBY	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
ROBIN NUNN	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
KEVIN PLUMMER	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
BOB LEWIS	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
CHRISTINE LOVELY	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
CONNIE WEAVER	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
LORETTA SANCHEZ	MEMBER 1.00	0	0
1550 MARKET STREET STE 475 DENVER,CO80202	MEMBER 1.00	0	0
BILLY HENSLEY	PRES. & CEO 40.00	487,288	27,145
1550 MARKET STREET STE 475 DENVER,CO80202	PRES. & CEO 40.00	487,288	27,145
JOANNE FLORES MOSES	TREAS. & CFO 40.00	309,633	54,438
1550 MARKET STREET STE 475 DENVER,CO80202	TREAS. & CFO 40.00	309,633	54,438
BRIAN FORD	SEC. & COS 40.00	167,371	13,751
1550 MARKET STREET STE 475 DENVER,CO80202	SEC. & COS 40.00	167,371	13,751

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 RES & 40.00	239,846	21,942
1550 MARKET STREET STE 475 DENVER,CO80202	SR VP RES & 40.00	239,846	21,942
MICHELLE SAMUELS-JONES	SR VP EQUITY 40.00	200,408	33,165
1550 MARKET STREET STE 475 DENVER,CO80202	SR VP EQUITY 40.00	200,408	33,165
PAUL GOLDEN	MD MEDIA 40.00	123,275	30,512
1550 MARKET STREET STE 475 DENVER,CO80202	MD MEDIA 40.00	123,275	30,512
AMARIE FISHER	SR. DIR & CO 40.00	130,166	18,747
1550 MARKET STREET STE 475 DENVER,CO80202	SR. DIR & CO 40.00	130,166	18,747
JOSHUA CARABALLO	MD RES & GRA 40.00	121,200	18,174
1550 MARKET STREET STE 475 DENVER,CO80202	MD RES & GRA 40.00	121,200	18,174
Total number of other employees paid over $50,000...................				19

Form 990-PF (2024)

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	681,348
3816 CAMELOT DRIVE OFC LEXINGTON,KY40517	PARTNERSHIP	681,348
FOUNDATION FOR COLORADO COMMUNITY COLLEGES	PARTNERSHIP	361,218
9101 E LOWRY BLVD DENVER,CO80230	PARTNERSHIP	361,218
CAMBRIDGE ASSOCIATES	INV ADVISOR	320,762
115 FEDERAL STREET SUITE 200 BOSTON,MA02110	INV ADVISOR	320,762
MERIPLEX	TECH CONSULT	178,321
10111 RICHMOND AVE SUITE 500 HOUSTON,TX77042	TECH CONSULT	178,321
AUGENBLICH PALAICH AND ASSOCIATES	ROI CONSULTANTS	140,000
1658 LAFAYETTE ST PO 7337 DENVER,CO80207	ROI CONSULTANTS	140,000

Total number of others receiving over $50,000 for professional services............. right arrow

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 FOR FOUR GRANT APPLICANTS IN 2024, BRINGING THE NUMBER OF RESEARCH STUDIES CURRENTLY IN PROGRESS TO 11. NEFE HAS FUNDED A TOTAL OF 46 RESEARCH PROJECTS SINCE 2006. IN ADDITION, NEFE CONTINUED TO CONDUCT RESEARCH ON FINANCIAL TRAUMA AND A HISTORY OF FINANCIAL EDUCATION OF NATIVE COMMUNITIES. WE COMPLETED WORK ON A NEFE-LED COLLABORATION FOCUSED ON ADDRESSING THE LACK OF RIGOROUS TESTING AND VALIDATION OF SOME OF THE MOST UTILIZED SURVEY ASSESSMENTS IN THE FINANCIAL SERVICES INDUSTRY, CONDUCTED SEVERAL POLLS OF U.S. ADULTS AND LAUNCHED A RESEARC	7,845,697
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 (2024)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

178,079,638

Average of monthly cash balances.......................

14,077,988

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

192,157,626

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

192,157,626

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

2,882,364

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

189,275,262

Minimum investment return. Enter 5% (0.05) of line 5................

9,463,763

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.)

Minimum investment return from Part IX, line 6..................

Tax on investment income for 2024 from Part V, line 5 .......

Income tax for 2024. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

9,774,679

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

9,774,679

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2024:
a From 2019......
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........
4Qualifying distributions for 2024 from Part
XI, line 4: $
a Applied to 2023, 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 2024 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2024.
(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 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........
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 2019 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....
d Excess from 2023....
e Excess from 2024....

Form 990-PF (2024)

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 2024, 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 4942(j)(3) or4942(j)(5)

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) 2024	(b) 2023	(c) 2022	(d) 2021	(e) Total
	7,025,959	5,595,654		5,069,017	17,690,630
b 85% (0.85) of line 2a .........	5,972,065	4,756,306		4,308,664	15,037,035
c Qualifying distributions from Part XI, line 4 for each year listed .....	9,774,679	9,393,665	7,889,055	6,677,478	33,734,877
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........	654,052	590,568	786,411	416,662	2,447,693
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	9,120,627	8,803,097	7,102,644	6,260,816	31,287,184
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 ..	6,309,175	5,995,029	6,126,090	6,419,477	24,849,771
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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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 (2024)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
THE URBAN INSTITUTE 500 LENFANT PLAZA SW WASHINGTON,DC20024	NONE	PC	RESEARCH GRANT	50,000
THE UNIVERSITY OF ALABAMA 318 ROSE ADMINISTRATION BUILDING BOX 870135 TUSCALOOSA,AL35487	NONE	PC	RESEARCH GRANT	75,380
THE RAND CORPORATION 1776 MAIN STREET PO BOX 2138 SANTA MONICA,CA90407	NONE	PC	RESEARCH GRANT	116,914
MONTANA STATE UNIVERSITY 328 MONTANA HALL PO BOX 172470 BOZEMAN,MT59717	NONE	PC	RESEARCH GRANT	8,000
ST LOUIS UNIVERSITY 3545 LINDELL BLVD ST LOUIS,MO63103	NONE	PC	RESEARCH GRANT	59,126
UNIVERSITY OF TENNESSEE 121 MORGAN HALL KNOXVILLE,TN37996	NONE	PC	RESEARCH GRANT	51,956
BOSTON COLLEGE 140 COMMON WEALTH AVE JOYCE HOUSE CHESTNUT HILL,MA02467	NONE	PC	RESEARCH GRANT	43,564
EDUCATION NORTHWEST 101 SW MAIN STREET SUITE 500 PORTLAND,OR97204	NONE	PC	RESEARCH GRANT	99,759
LEWIS AND CLARK COLLEGE 615 S PALATINE HILL ROAD MSC 31 PORTLAND,OR97219	NONE	PC	RESEARCH GRANT	86,503
CALHAN SCHOOL DISTRICT 800 BULLDOG DRIVE CALHAN,CO80808	NONE	PC	FCCLA STUDENT COMPETITION	1,250
COUNCIL FOR ECONOMIC EDUCATION 122 E 42ND STREET SUITE 1012 NEW YORK CITY,NY10168	NONE	PC	75TH ANNIVERSARY CAMPAIGN	25,000
CHAMPLAIN COLLEGE 163 S WILLARD STREET BURLINGTON,VT05401	NONE	PC	IMPROVE FINANCIAL LITERACY IN HS	10,000
ASHLEY BLACK 1550 MARKET STR STE 475 DENVER,CO80202	NONE	IND	SCALE VALIDATION PROJECT COMMITTEE	5,600
DEE ANNE WARMATH 1550 MARKET STR STE 475 DENVER,CO80202	NONE	IND	SCALE VALIDATION PROJECT COMMITTEE	6,900
KATRINA BOROWIEC 1550 MARKET STR STE 475 DENVER,CO80202	NONE	IND	SCALE VALIDATION PROJECT COMMITTEE	5,100
KURT A SCHINDLER 1550 MARKET STR STE 475 DENVER,CO80202	NONE	IND	SCALE VALIDATION PROJECT COMMITTEE	4,500
MIRANDA C REITER 1550 MARKET STR STE 475 DENVER,CO80202	NONE	IND	SCALE VALIDATION PROJECT COMMITTEE	4,500
Total ................................. 3a				654,052

bApproved for future payment
UNIVERSITY OF CALIFORNIA LAS ANGELES 1125 MURPHY HALL 405 AVE BOX 957089 LOS ANGELES,CA90095	NONE	PC	RESEARCH GRANT	55,000
MORGAN STATE UNIVERSITY 1700 E COLD SPRING LANE MONTBELLOW COMPLEX BALTIMORE,MD21251	NONE	PC	RESEARCH GRANT	130,037
Total ................................. 3b				185,037

Form 990-PF (2024)

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	(e) Related or exempt function income (See instructions.)
aREGISTRATION FEES					39,635
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	1,732,195
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	-1,374	18	7,781,709
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aPASS-THROUGH ENTITIES			14	5,408,083
bPASS-THROUGH ENTITIES UBTI	523000	-42,534
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		-43,908		14,921,987	39,635

13Total. Add line 12, columns (b), (d), and (e)..................

14,917,714

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)
1A	THE FOUNDATION HOSTS THE INNOVATION & IMPACT SUMMIT

Form 990-PF (2024)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

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

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

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

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow

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) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization NATIONAL ENDOWMENT FOR FINANCIAL EDUCATION

Part I	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	CAPITAL GROUP COMPANIES 40 EAST MAIN STREET SUITE 887 NEWARD, DE19711	$ 23,875	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

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) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

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.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose 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

(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

(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

(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) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2024 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	54,000	5,400	5,400	48,600

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 GainLossSaleOtherAssetsSch

Name:

NATIONAL ENDOWMENT FOR

FINANCIAL EDUCATION

EIN:

84-0632115

Name	How Acquired	Gross Sales Price	Basis	Total (net)
AULDBRASS PARTNERS SECONDARY OPPORTU	PURCHASE		2	-2
COMMONFUND INTERNATIONAL PEP VI - UB	PURCHASE		10	-10
COMMONFUND PEP VII - UBTI	PURCHASE	615		615
INDUSTRY VENTURE PTR HOLDINGS V - UB	PURCHASE	118		118
PRESERVER - UBTI	PURCHASE		2,096	-2,096
SIGULER GUFF DISTRESSED OPPORTUNITIE	PURCHASE	1		1

- TIN:

TY 2024 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	4,418,211	4,193,818
RBC GLOBAL ASSET MANAGEMENT	4,477,430	3,988,764

- TIN:

TY 2024 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	45,148,042	52,329,631

- TIN:

TY 2024 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	5,024,317	5,715,259
ALPINE INVESTORS IX-A	AT COST	592,685	710,390
AULDBRASS PTNRS SECONDARY OPP FUND	AT COST	2,170,386	2,664,365
CIM ENTERPRISE LOAN FUND	AT COST	7,208,725	8,065,066
CITY OF LONDON EM INVESTABLE FUND	AT COST	2,044,141	3,944,217
COMMONFUND INTL PIP	AT COST	157,983	30,307
COMMONFUND PIP VII	AT COST	76,830	111,682
COMMONFUND VENTURE PARTNERS XI	AT COST	1,331,733	3,782,571
CROWN GLOBAL SECONDARIES	AT COST	433,334	566,760
DE SHAW BROAD MARKET	AT COST
DAVIDSON KEMPNER INSTITUTIONAL PTNR	AT COST	7,333,070	15,966,428
FORESTER DIVERSIFIED LTD	AT COST	614,076	1,167,048
FORTRESS CREDIT OPP FUND V	AT COST	1,112,375	1,212,967
FORTRESS CREDIT OPP FUND VI	AT COST	578,943	626,214
HARBOURVEST DOVER STREET 08	AT COST		101,974
HARBOURVEST DOVER STREET 09	AT COST		1,379,754
HARBOURVEST DOVER STREET 10	AT COST	3,169,732	5,828,669
HARBOURVEST DOVER STREET XI	AT COST	1,141,361	1,556,692
HARBORVEST REAL ASSETS 4 FEEDER FUND	AT COST	2,463,196	4,031,686
INDUSTRY VENTURE	AT COST	1,127,085	1,416,585
INDUSTRY VENTURE VII	AT COST	140,122	157,548
INDUSTRY VENTURE PARTNERS HOLDINGS	AT COST	2,632,959	4,794,712
LANDMARK REAL ESTATE	AT COST	739,268	662,050
NB SECONDARY OPP	AT COST	1,718,557	2,543,150
NIO INFRASTRUCTURE FEEDER FUND II	AT COST	370,179	459,422
NIO INFRASTRUCTURE FEEDER FUND V	AT COST	276,924	251,962
OVERLOOK PARTNERS	AT COST	4,064,928	4,166,841
OWNERSHIP CAPITAL GLOBAL EQUITY FUND	AT COST	6,676,307	6,965,863
PARAMETRIC	AT COST	2,980,593	2,919,972
PRESERVER	AT COST
PRIME FINANCE III	AT COST	2,324,980	2,105,658
PRIME FINANCE IV	AT COST	804,690	748,185
SIGULER GUFF DISS OPP FUND 3	AT COST		18,300
SIGULER GUFF DISS OPP FUND 4	AT COST	298,756	133,322
SILCHESTER INTERNATIONAL	AT COST	13,934,484	14,297,585
STEPSTONE (FKA GREENSPRING) 8	AT COST	1,291,036	2,496,425
STEPSTONE (FKA GREENSPRING) 9	AT COST	2,291,154	3,438,131
TIVERTON AGRIFINANCE III	AT COST	450,000	429,055
VISTRIA FUND (FT)	AT COST	559,123	625,444
WELLINGTON ARCHIPELAGO PARTNERS	AT COST	293,176	8,140,374
WELLINGTON DURABLE COMPANIES	AT COST	8,077,077	8,507,588

- TIN:

TY 2024 LegalFeesSchedule

Name:

NATIONAL ENDOWMENT FOR

FINANCIAL EDUCATION

EIN:

84-0632115

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
SHERIDAN ROSS	19,413			19,413
BCLP	18,673	253	253	18,420
SCHAUBLE LAW GROUP LLC	5,189			5,189

- TIN:

TY 2024 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	336,627		39,635	296,992
SPONSORSHIPS/COMM/MARKETING	87,151			87,151
BUSINESS EXPENSES	108,633	912	912	107,721
CONSULTING	434,209	563	563	433,646
COMMISSIONED RESEARCH	391,690			391,690
STRATEGIC PARTNERSHIPS	1,216,466			1,216,466
COMPUTER, SOFTWARE, WEBSITES	354,315	2,784	2,784	351,531

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

NATIONAL ENDOWMENT FOR

FINANCIAL EDUCATION

EIN:

84-0632115

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
REGISTRATION FEES	39,635		39,635
PASS-THROUGH ENTITIES	5,408,083	5,408,083	5,408,083
PASS-THROUGH ENTITIES UBTI	-42,534		-42,534

- TIN:

TY 2024 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	320,762	320,762	320,762
VULCAN VALUE PARTNERS, LLC	14,234	14,234	14,234
BRECKINRIDGE CAPITAL ADVISORS, I	7,136	7,136	7,136
WELLINGTON TRUST CO.	48,382	48,382	48,382
KEYBANK	12,144	12,144	12,144
PARAMETRIC	5,694	5,694	5,694
ULTRA SHORT	18,648	18,648	18,648
OCTOBER THREE CONSULTING	57,021	570	570	56,450
ACCOUNTANT CONSULTANT	66,198	662	662	65,536

- TIN:

TY 2024 TaxesSchedule

Name:

NATIONAL ENDOWMENT FOR

FINANCIAL EDUCATION

EIN:

84-0632115

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
2024 ESTIMATED EXCISE TAXES	100,000			100,000