en.wikipedia.org/wiki/Curtis_Priem
2 corrections found
became the vice chair of the Board in 2024
RPI had already elected Curtis Priem vice-chair effective January 1, 2023, so 2024 is too late.
Full reasoning
Rensselaer Polytechnic Institute's own December 21, 2022 announcement says Curtis R. Priem "has been elected vice-chair" of the Board of Trustees and that the appointments were effective January 1, 2023. RPI's current leadership page also lists him as Vice Chair of the Board. That means he became vice-chair in 2023, not 2024.
2 sources
- Rensselaer Board of Trustees Announces Changes | News
December 21, 2022 ... Curtis R. Priem '82 has been elected vice-chair ... The appointments are effective January 1, 2023.
- Curtis R. Priem, B.S. '82 | Martin A. Schmidt '81, Ph.D.
Curtis R. Priem, B.S. '82 — Vice Chair of the Board, Founder and Former Chief Technical Officer, NVIDIA, Corp., Secretary of the Board.
and therefore, no overhead
Recent IRS-backed filings show the foundation does have non-grant expenses, so describing it as having "no overhead" is inaccurate.
Full reasoning
The Priem Family Foundation's IRS Form 990-PF data, as published by ProPublica's Nonprofit Explorer, shows that in fiscal year 2024 the foundation reported $30,195,392 in total expenses but only $28,769,574 in charitable disbursements (95.3% of expenses). That means some expenses were not charitable grants. ProPublica also lists filing schedules for accounting fees, legal fees, other professional fees, taxes, and other expenses. Even if the foundation has no paid staff, the public tax filings do not support the claim that it has no overhead at all.
1 source
- Priem Family Foundation - Nonprofit Explorer - ProPublica
Fiscal Year Ending June 2024 ... Expenses $30,195,392 ... Charitable Disbursements (Also listed as 'Total Expenses for Tax-Exempt Purpose') $28,769,574 (95.3%). ... Document Links ... Accounting Fees Schedule ... Legal Fees Schedule ... Other Expenses Schedule ... Other Professional Fees Schedule ... Taxes Schedule.