Amherst, MA   |
GuideStar Charity Check


EIN: 04-3243004


Proteus Fund partners with foundations, advocates, and individual donors to advance democracy, human rights and peace. Since our founding in 1994, Proteus Fund and its affiliated organizations have distributed over $250 million in grants to enable organizations, advocates, and activists to advance this vision.

Ruling year info


President and CEO

Mr. Paul Di Donato

Main address

15 Research Drive Suite B

Amherst, MA 01002 USA

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Subject area info

Public affairs


Civic participation

Campaign finance

Human rights

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Population served info


LGBTQ people

Women and girls

People of Middle Eastern descent


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NTEE code info

Public Foundations (T30)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms


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Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Piper Fund

Piper Fund is a donor collaborative that unites individual donors and foundations to defend democratic institutions and diminish the influence of corporate and special interest money on our political and judicial systems.

Population(s) Served

As the only national donor collaborative dedicated to supporting MASA communities, the RISE Together Fund bolsters the critical work of Muslim, Arab, and South Asian individuals, organizations and communities to defend and uphold the Rights of their communities, leading to Inclusion in a just, multi-racial democracy. Our name reflects our understanding that we must build relationships and Solidarity within the MASA field and with allies across social and racial justice movements in order to realize Equity and justice in America. We will achieve Rights, Inclusion, Solidarity, and Equity (RISE) Together.

Population(s) Served
People of Middle Eastern descent

The Rights, Faith & Democracy Collaborative believes religious freedom means freedom for everyone - no exceptions, no exemptions.

Formed in 2016, the RFDC is a donor collaborative that creates state-based coalitions of advocates working at the intersectionof LGBTQ equality and reproductive health, rights, and justice (RHRJ), and in concert with partners from diverse faith communities.

Population(s) Served
LGBTQ people
Women and girls

Where we work


Fiscal year: Jan 01 - Dec 31
Financial documents
2021 Proteus Fund 2020 Proteus Fund, Inc December 4, 2020 Financial Statements.pdf
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021 info

SOURCE: IRS Form 990


Average of 10.08 over 10 years

Months of cash in 2021 info

SOURCE: IRS Form 990


Average of 8.6 over 10 years

Fringe rate in 2021 info

SOURCE: IRS Form 990


Average of 28% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990


Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data


Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data


Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of PROTEUS FUND INC’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Business model indicators

Profitability info 2017 2018 2019 2020 2021
Unrestricted surplus (deficit) before depreciation $3,120,931 $685,644 -$2,488,422 $827,067 $2,127,320
As % of expenses 12.1% 2.3% -8.3% 2.0% 6.0%
Unrestricted surplus (deficit) after depreciation $3,110,220 $668,774 -$2,505,292 $815,724 $2,120,265
As % of expenses 12.0% 2.2% -8.4% 2.0% 5.9%
Revenue composition info
Total revenue (unrestricted & restricted) $31,883,493 $32,715,202 $30,242,758 $43,033,810 $46,264,432
Total revenue, % change over prior year 49.4% 2.6% -7.6% 42.3% 7.5%
Program services revenue 4.7% 6.8% 4.0% 3.0% 1.5%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.5% 0.8% 1.1% 0.7% 0.3%
Government grants 0.0% 0.0% 0.0% 0.0% 2.8%
All other grants and contributions 94.9% 92.4% 94.2% 96.0% 95.3%
Other revenue 0.0% 0.1% 0.7% 0.2% 0.1%
Expense composition info
Total expenses before depreciation $25,863,175 $29,929,100 $29,935,852 $41,008,272 $35,743,908
Total expenses, % change over prior year 15.5% 15.7% 0.0% 37.0% -12.8%
Personnel 22.4% 22.3% 22.5% 19.5% 26.8%
Professional fees 4.3% 4.4% 12.5% 10.4% 15.4%
Occupancy 0.8% 1.0% 1.2% 1.3% 1.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 56.2% 53.2% 57.4% 66.5% 53.9%
All other expenses 16.3% 19.0% 6.4% 2.4% 2.9%
Full cost components (estimated) info 2017 2018 2019 2020 2021
Total expenses (after depreciation) $25,873,886 $29,945,970 $29,952,722 $41,019,615 $35,750,963
One month of savings $2,155,265 $2,494,092 $2,494,654 $3,417,356 $2,978,659
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $47,833 $0 $0 $13,758 $37,152
Total full costs (estimated) $28,076,984 $32,440,062 $32,447,376 $44,450,729 $38,766,774

Capital structure indicators

Liquidity info 2017 2018 2019 2020 2021
Months of cash 6.8 7.3 7.7 7.7 10.6
Months of cash and investments 7.9 8.2 8.9 8.3 11.7
Months of estimated liquid unrestricted net assets 1.7 1.7 0.7 0.8 1.6
Balance sheet composition info 2017 2018 2019 2020 2021
Cash $14,744,158 $18,091,828 $19,291,721 $26,364,576 $31,472,518
Investments $2,289,996 $2,424,404 $2,844,775 $2,064,158 $3,229,680
Receivables $3,056,321 $9,337,457 $8,587,092 $8,474,552 $12,173,952
Gross land, buildings, equipment (LBE) $80,051 $80,051 $80,051 $93,809 $130,961
Accumulated depreciation (as a % of LBE) 24.0% 45.0% 66.1% 68.5% 54.5%
Liabilities (as a % of assets) 4.2% 4.8% 5.9% 14.9% 10.4%
Unrestricted net assets $3,697,461 $4,366,235 $1,860,943 $2,676,667 $4,796,932
Temporarily restricted net assets $15,698,236 $23,876,460 N/A N/A N/A
Permanently restricted net assets $0 $299,664 N/A N/A N/A
Total restricted net assets $15,698,236 $24,176,124 $27,201,237 $28,893,370 $37,397,174
Total net assets $19,395,697 $28,542,359 $29,062,180 $31,570,037 $42,194,106

Key data checks

Key data checks info 2017 2018 2019 2020 2021
Material data errors No No No No No


The people, governance practices, and partners that make the organization tick.

Form 1023/1024 is not available for this organization

President and CEO

Mr. Paul Di Donato

Number of employees

Source: IRS Form 990


Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization


Highest paid employees

SOURCE: IRS Form 990

Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization


Board of directors
as of 09/28/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Eric Ward

Western States Center and Senior Fellow, Race Forward and Southern Poverty Law Center

Board co-chair

Natasha Minsker


Odell Mays

Mays2 Consulting, LLC.

Nima Shirazi

Spitfire Strategies

Richard Burns

Johnson Family Foundation

Tammy Dowley-Blackman

Tammy Dowley-Blackman Group, LLC.

Patricia Eng

Asian Americans/Pacific Islanders in Philanthropy

Tia Oros Peters

Seventh Generation Fund for Indigenous Peoples

Elizabeth Schmidt

University of MA Amherst

Rick Scott

McKnight Foundation

Mai-Anh Tran

Ford Foundation

Quanita Toffie

Groundswell Action Fund

Paul Di Donato

Proteus Fund and Proteus Action League

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? No
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 9/28/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.


The organization's leader identifies as:

Race & ethnicity
Gender identity
Male, Not transgender (cisgender)
Sexual orientation
Gay, lesbian, bisexual, or other sexual orientations in the LGBTQIA+ community
Disability status
Decline to state

Race & ethnicity

No data

Gender identity

No data


No data

Sexual orientation

No data


No data

Equity strategies

Last updated: 05/06/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.


Fiscal year ending

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser