Civic Intelligence

The Center for Reimagining Learning Inc

990 • Fiscal year 2023 • EIN 46-0807740

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

One Broadway 14th FloorCambridge, MA 02142

(508) 834-9891

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

5th percentile

0.04x

Higher debt load relative to revenue than 5% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

92nd percentile

40%

Higher net margin than 92% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

86th percentile

$2,394,548

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 15.6% of source-year revenue.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

37th percentile

2.3%

Faster asset growth than 37% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Up

$734,942,016

Up $16,307,293 (+2.3%) from 2022

Net Assets

Up

$734,381,763

Up $16,197,361 (+2.3%) from 2022

Liabilities

Up

$560,253

Up $109,932 (+24%) from 2022

Revenue

Down

$15,380,878

Down $819,225,101 (-98%) from 2022

Expenses

Down

$9,203,446

Down $47,573,482 (-84%) from 2022

Net Income

Down

$6,177,432

Down $771,651,619 (-99%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0B$500M$0-$500MAssets 2013: $21,915,769Liabilities 2013: $4,015,215Net Assets 2013: $17,900,5542013Assets 2014: $34,701,912Liabilities 2014: $20,072,013Net Assets 2014: $14,629,8992014Assets 2015: $39,125,559Liabilities 2015: $24,569,147Net Assets 2015: $14,556,4122015Assets 2016: $37,929,199Liabilities 2016: $26,637,066Net Assets 2016: $11,292,1332016Assets 2017: $35,922,260Liabilities 2017: $27,610,524Net Assets 2017: $8,311,7362017Assets 2018: $32,621,304Liabilities 2018: $31,222,029Net Assets 2018: $1,399,2752018Assets 2019: $43,668,830Liabilities 2019: $40,481,976Net Assets 2019: $3,186,8542019Assets 2020: $48,485,627Liabilities 2020: $62,450,462Net Assets 2020: -$13,964,8352020Assets 2021: $40,596,773Liabilities 2021: $98,497,378Net Assets 2021: -$57,900,6052021Assets 2022: $718,634,723Liabilities 2022: $450,321Net Assets 2022: $718,184,4022022Assets 2023: $734,942,016Liabilities 2023: $560,253Net Assets 2023: $734,381,7632023Assets 2024: $749,791,928Liabilities 2024: $1,459,594Net Assets 2024: $748,332,3342024

Highlighted filing

2023

Assets$734,942,016
Liabilities$560,253
Net Assets$734,381,763

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0B$500M$0-$500MRevenue 2013: $25,842,408Expenses 2013: $15,055,997Net Income 2013: $10,786,4112013Revenue 2014: $21,432,057Expenses 2014: $24,702,712Net Income 2014: -$3,270,6552014Revenue 2015: $36,309,401Expenses 2015: $36,382,888Net Income 2015: -$73,4872015Revenue 2016: $42,808,106Expenses 2016: $46,072,385Net Income 2016: -$3,264,2792016Revenue 2017: $54,092,657Expenses 2017: $57,073,054Net Income 2017: -$2,980,3972017Revenue 2018: $59,894,721Expenses 2018: $66,807,182Net Income 2018: -$6,912,4612018Revenue 2019: $76,020,153Expenses 2019: $74,437,114Net Income 2019: $1,583,0392019Revenue 2020: $84,692,713Expenses 2020: $101,844,402Net Income 2020: -$17,151,6892020Revenue 2021: $97,534,307Expenses 2021: $131,913,038Net Income 2021: -$34,378,7312021Revenue 2022: $834,605,979Expenses 2022: $56,776,928Net Income 2022: $777,829,0512022Revenue 2023: $15,380,878Expenses 2023: $9,203,446Net Income 2023: $6,177,4322023Revenue 2024: $30,144,489Expenses 2024: $16,928,111Net Income 2024: $13,216,3782024

Highlighted filing

2023

Revenue$15,380,878
Expenses$9,203,446
Net Income$6,177,432
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$15,380,878
Mission and Program Overview

Mission

The edx mission is to expand access to education and become a leading resource for learners and learning worldwide by providing and enhancing teaching and learning on campus and online through advanced technologies and research.

The axim collaborative, inc. Mission is to make learning more accessible, more relevant and more effective for all learners in support of strong student outcomes. Axim collaborative, inc. Is focused on students systematically and historically underserved by higher education systems. Axim collaborative, inc. Seeks to catalyze new digital and education practices that engage students in their course of study, enable them to persist through their programs and excel in their careers to realize greater social and economic mobility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$650,423,116$688,538,441▲ $38,115,325
Investments Other Securities$54,015,505$21,311,052▼ $32,704,453
Cash and Non-Interest-Bearing Accounts$1,008,591$16,533,864▲ $15,525,273
Accounts Receivable$13,000,000$8,436,249▼ $4,563,751
Prepaid Expenses and Deferred Charges$187,511$122,410▼ $65,101
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$718,634,723$734,942,016▲ $16,307,293
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$450,321$560,253▲ $109,932
Other Liabilities$0$0→ $0
Total Liabilities$450,321$560,253▲ $109,932
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$718,184,402$734,381,763▲ $16,197,361
Total Net Assets Fund Balance$718,184,402$734,381,763▲ $16,197,361
Total Liabilities and Net Assets / Fund Balance$718,634,723$734,942,016▲ $16,307,293
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Clerk and General CounselFT$372,741$115,822$488,563
-Treasurer and Chief Financial OfficerFT$306,780$128,551$435,331
-VP, EngineeringFT$277,499$102,162$379,661
-President (Outgoing)FT$286,614$80,378$366,992
-Software ArchitectFT$210,363$47,188$257,551
-ControllerFT$183,505$57,809$241,314
-Engineering ManagerFT$180,739$54,651$235,390
-Senior Software Engineer IIFT$139,061$37,841$176,902

Board Members and Trustees

NameTitle
-Co-Chair
-President and CEO (Incoming)
-Trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Ernst & Young US LLPAccounting Services200 PLAZA DRIVE SUITE 2222, Secaucus, NJ 07094$525,752
Wilson Elser Mosklowitz Edelman Dicker LLPLegal Services150 EAST 42ND STREET, New York, NY 10017$159,116
Pricewaterhousecoopers LLPAccounting ServicesPO BOX 7247-8001, Philadelphia, PA 19170$135,965
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$185,142
Investment Income
$15,195,736
Other Revenue
$0
Change in Net Assets
$6,177,432

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,380,878
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$10,019,929
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$25,400,807
Total Revenue per Form 990
$15,380,878
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,454,319
Other Expenses$3,797,306
Grants and Similar Amounts Paid$951,821
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,958,034$599,939$0$2,557,973
Current Officers, Directors, Trustees, and Key Employees$922,459$744,152-$1,666,611
Other Salaries and Wages$1,501,767$132,120-$1,633,887
Grants to Domestic Orgs$951,821--$951,821
Other Employee Benefits$412,562$240,209-$652,771
Fees for Service Investment Mgmnt Fees-$280,412-$280,412
Payroll Taxes$172,616$89,374-$261,990
Fees for Services Legal-$243,769-$243,769
Pension Plan Contributions$172,420$66,640-$239,060
Conferences and Meetings$185,928--$185,928
Fees for Services Accounting-$158,932-$158,932
Occupancy$114,012$26,310-$140,322
Insurance-$100,163-$100,163
Travel$20,549$30,890-$51,439
Other Expenses-$33,066-$33,066
Office Expenses-$30,372-$30,372
Information Technology-$14,930-$14,930
Total Functional Expenses$6,412,168$2,791,278$0$9,203,446

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,203,446
Total Expenses per Audited Statements$9,203,446
Total Expenses per Form 990$9,203,446
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
United Negro College Fund IncWashington, DC501(c)(3)Grant$550,955
President and Fellows of Harvard CollegeCambridge, MA501(c)(3)Grant$400,866

International Summary

Offices
0
Employees
0
Spending
$369,444

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Program ServicesServices--$187,771
South AmericaProgram ServicesServices--$142,523
Middle East and North AfricaProgram ServicesServices--$23,046
Sub-Saharan AfricaProgram ServicesServices--$16,104
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2 BUSINESS RELATIONSHIP

For fiscal year 2023, the following current officers/trustees of axim collaborative, inc. Were employed by mit, of which glen shor was an officer and director: cynthia barnhart, sanjay sarma, and w. Eric grimson. For fiscal year 2023, the following current officers/trustees of axim collaborative, inc. Were employed by harvard, of which alan garber, katherine lapp, and meredith weenick were officers: bharat anand and bridget terry long.

Form 990, Part VI, Line 15 COMPENSATION PROCESS

Axim collaborative, inc. Has a compensation committee that reviews the salaries of the president, key employees and other officers. The compensation review process includes industry benchmarking with both academic and technology salaries.

Form 990, Part VI, Line 4 Significant changes to organizational documents

In march 2023, the organization's articles and bylaws were amended to change the organization's name to axim collaborative, inc.

Form 990, Part VI, Line 6 Classes of members or stockholders

The sole members of the organization are the president and fellows of harvard college (harvard) and the massachusetts institute of technology (mit).

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

As set forth in the bylaws, axim collaborative, inc.'s governing body (board of trustees) is composed of an equal number of persons appointed by its two members, harvard and mit.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

As set forth in the bylaws, the following powers are reserved to the members: (i) determination of the size of the board of trustees; (ii) election, suspension, or removal of the president and, if different, the chief executive officer; and (iii) determination of whether a third party's educational or informational content will be made accessible through the organization. The members also have certain reserved powers under mgl ch.180.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Members of axim collaborative, inc.'s senior management review the form 990. Following that review and before the 990 is filed, axim collaborative inc.'s audit committee is provided the form for review, comment, and approval, and the 990 is shared with the full board.

Form 990, Part VI, Line 12C Conflict of interest policy

The questionnaire and policies require that covered individuals annually acknowledge in writing that they are aware of the policy and identify any relationships or responsibilities that have the potential of producing conflicts of interest. Each year, disclosure forms are distributed to those covered by these policies. If a response reveals a conflict or potential conflict, such conflict is referred to the appropriate individual or body for consideration and management.

Form 990, Part VI, Line 19 Required documents available to the public

Axim collaborative, inc.'s governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Axim Collaborative Inc
EIN
46-0807740
Phone
5088349891
Address
One Broadway 14th Floor, Cambridge, MA 02142

Signing Officer

Name
Peter Brau
Title
Treasurer and CFO
Phone
5088349891
Signed
2024-05-14

Organization Details

Formed
2012
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
1
Employees
15
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

EDUCATIONAL LANDSCAPE REVIEW - Total Expense: 1036400, Program Service Expense: 1036400, Management and General Expenses: , Fundraising Expenses: ; ENGINEERING - Total Expense: 804815, Program Service Expense: 804815, Management and General Expenses: , Fundraising Expenses: ; HOSTING - Total Expense: 408374, Program Service Expense: 116819, Management and General Expenses: 291555, Fundraising Expenses: ; OTHER FEES FOR SERVICE - Total Expense: 175795, Program Service Expense: , Management and General Expenses: 175795, Fundraising Expenses: ; RECRUITING - Total Expense: 68287, Program Service Expense: , Management and General Expenses: 68287, Fundraising Expenses: ; MARKETING & BUSINESS DEVELOPMENT - Total Expense: 64302, Program Service Expense: , Management and General Expenses: 64302, Fundraising Expenses: ;

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The organization does not believe it has unrecorded or undisclosed commitments or contingencies.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt1Alan Spoon
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2Bharat Anand
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3Bridget Terry Long
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt4Cynthia Barnhart
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt5Glen Shor
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6Katherine Lapp
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7Meredith Weenick
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8Sanjay Sarma
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9W Eric Grimson
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10Catherine Smith
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt11Nell Ma'luf
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt12Peter Brau
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt13Stephanie Khurana
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt14Edward Zarecor
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt15David Ormsbee
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt16Feanil Patel
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt17Kyle McCormick
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt18Sarina Canelake
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt19Sean Foye
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IRS990/Form990PartVIISectionAGrp/TitleTxt14VP, Engineering
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IRS990/MissionDesc0THE AXIM COLLABORATIVE, INC. MISSION IS TO MAKE LEARNING MORE ACCESSIBLE, MORE RELEVANT AND MORE EFFECTIVE FOR ALL LEARNERS IN SUPPORT OF STRONG STUDENT OUTCOMES. AXIM COLLABORATIVE, INC. IS FOCUSED ON STUDENTS SYSTEMATICALLY AND HISTORICALLY UNDERSERVED BY HIGHER EDUCATION SYSTEMS. AXIM COLLABORATIVE, INC. SEEKS TO CATALYZE NEW DIGITAL AND EDUCATION PRACTICES THAT ENGAGE STUDENTS IN THEIR COURSE OF STUDY, ENABLE THEM TO PERSIST THROUGH THEIR PROGRAMS AND EXCEL IN THEIR CAREERS TO REALIZE GREATER SOCIAL AND ECONOMIC MOBILITY.
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IRS990/ProgSrvcAccomActy2Grp/Desc0AXIM COLLABORATIVE, INC. SUPPORTS THE OPEN SOURCE SOFTWARE OPEN EDX PLATFORM FOR ONLINE LEARNING. THIS PROGRAM'S MISSION IS TO LEVERAGE OPEN SOURCE TECHNOLOGY TO DEMOCRATIZE EDUCATION AND TO POWER ADVANCES IN LEARNING. SEE MORE AT WWW.OPENEDX.ORG
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