Civic Intelligence

Edx Inc

EIN 46-0807740 • 501(c)3 • Cambridge, MA

Profile

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.

One Broadway 14th FloorCambridge, MA 02142

www.edx.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

8th percentile

0.05x

Higher debt load relative to revenue than 8% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

91st percentile

44%

Higher net margin than 91% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

72nd percentile

$1,204,419

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2022

Asset Growth

33rd percentile

2.0%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

96%

Faster revenue growth than 95% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$749,791,928

Up $14,849,912 (+2.0%) from 2023

Liabilities

Up

$1,459,594

Up $899,341 (+161%) from 2023

Net Assets

Up

$748,332,334

Up $13,950,571 (+1.9%) from 2023

Revenue

Up

$30,144,489

Up $14,763,611 (+96%) from 2023

Expenses

Up

$16,928,111

Up $7,724,665 (+84%) from 2023

Net Income

Up

$13,216,378

Up $7,038,946 (+114%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$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

2024

Assets$749,791,928
Liabilities$1,459,594
Net Assets$748,332,334

Operations Trend

Revenue, expenses, and net income by year, with the latest 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

2024

Revenue$30,144,489
Expenses$16,928,111
Net Income$13,216,378

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$30,144,489
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$688,538,441$674,231,614▼ $14,306,827
Investments Other Securities$21,311,052$60,242,864▲ $38,931,812
Cash and Non-Interest-Bearing Accounts$16,533,864$11,533,968▼ $4,999,896
Accounts Receivable$8,436,249$3,416,290▼ $5,019,959
Prepaid Expenses and Deferred Charges$122,410$367,192▲ $244,782
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$734,942,016$749,791,928▲ $14,849,912
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$0$795,638▲ $795,638
Accounts Payable and Accrued Expenses$560,253$623,566▲ $63,313
Deferred Revenue$0$40,390▲ $40,390
Other Liabilities$0$0→ $0
Total Liabilities$560,253$1,459,594▲ $899,341
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$734,381,763$748,332,334▲ $13,950,571
Total Net Assets Fund Balance$734,381,763$748,332,334▲ $13,950,571
Total Liabilities and Net Assets / Fund Balance$734,942,016$749,791,928▲ $14,849,912

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$60,242,864--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nell Ma'lufClerk and General CounselFT$417,369$39,617$456,986
Stephanie KhuranaPresident and CEOFT$392,416$37,470$429,886
Peter BrauTreasurer and Chief Financial OfficerFT$342,068$78,486$420,554
Edward ZarecorVP, EngineeringFT$309,537$75,840$385,377
Catherine SmithChief People and Partnerships OfficerFT$305,529$66,995$372,524
Philipp SchmidtVP, Technology InnovationFT$258,085$77,422$335,507
David OrmsbeeSoftware ArchitectFT$213,358$66,605$279,963
Brian MesickPlatform Architect (Data)FT$212,011$67,610$279,621
Feanil PatelSoftware ArchitectFT$216,132$37,215$253,347
Sarina CanelakeEngineering ManagerFT$195,624$43,124$238,748
Jenna MakowskiSenior Product ManagerFT$166,194$36,754$202,948

Board Members and Trustees

NameTitle
Cynthia BarnhartCo-Chair
John ManningCo-Chair (Incoming)
Alan GarberCo-Chair (Outgoing)
Alan SpoonTrustee
Bharat AnandTrustee
Bridget Terry LongTrustee
Meredith WeenickTrustee
W Eric GrimsonTrustee
Katherine HammerTrustee (Incoming)
Glen ShorTrustee (Outgoing)

Highest Paid Contractors

ContractorServicesLocationCompensation
Ernst & Young US LLPStrategy Review ServicesPO BOX 640382, FLAMENGO, Pittsburgh, PA 15264, Br$510,648
Flouzo Sarl Centre UbidocaEngineering Consulting Services30 W 26TH STREET SIXTH FLOOR, New York, NY 10010$466,931
Tyton PartnersConsulting Services75 FEDERAL STREET SUITE 200, Boston, MA 02110$190,000
On-ramps Services LLCRecruiting Services307 7TH AVENUE SUITE 901, New York, NY 10001$152,463
BananasoftEngineering Consulting Services-$147,015
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$9,272
Investment Income
$30,135,217
Other Revenue
$0
Change in Net Assets
$13,216,378

Audited Revenue Reconciliation

Revenue per Audited Statements
$30,144,489
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$734,193
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$30,878,682
Total Revenue per Form 990
$30,144,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,404,235
Salaries, Compensation, and Employee Benefits$5,679,190
Other Expenses$4,844,686
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,404,235--$6,404,235
Fees for Services Other$2,483,430$646,049$0$3,129,479
Other Salaries and Wages$1,918,044$354,002-$2,272,046
Current Officers, Directors, Trustees, and Key Employees$1,553,774$656,610-$2,210,384
Other Employee Benefits$311,377$225,074-$536,451
Pension Plan Contributions$284,488$94,642-$379,130
Conferences and Meetings$342,820$4,577-$347,397
Payroll Taxes$222,089$59,090-$281,179
Fees for Services Accounting-$262,848-$262,848
Fees for Services Legal-$250,522-$250,522
Fees for Service Investment Mgmnt Fees-$222,064-$222,064
Occupancy$154,488$36,350-$190,838
Other Expenses$14,886$127,623-$142,509
Travel$95,911$17,277-$113,188
Office Expenses$8,866$58,733-$67,599
Information Technology$47,227$14,701-$61,928
Insurance-$55,640-$55,640
Advertising$100$574-$674
Total Functional Expenses$13,841,735$3,086,376$0$16,928,111

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,928,111
Total Expenses per Audited Statements$16,928,111
Total Expenses per Form 990$16,928,111
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
Arizona State University Foundation for a New American UniversityTempe, AZ501(c)(3)Grant$1,074,841
Partnership for Education AdvancementWashington, DC501(c)(3)Grant$705,000
Massachusetts Institute of TechnologyCambridge, MA501(c)(3)Grant$656,442
Education Design LabWashington, DC501(c)(3)Grant$554,875
President and Fellows of Harvard CollegeCambridge, MA501(c)(3)Grant$536,400
Benjamin Franklin Cummings Institute of TechnologyBoston, MA501(c)(3)Grant$500,000
Georgia State University Research Foundation IncAtlanta, GA501(c)(3)Grant$500,000
Lorain County Community College Innovation FoundationElyria, OH501(c)(3)Grant$500,000
MdrcNew York, NY501(c)(3)Grant$500,000
The College of the Canyons FoundationSanta Clarita, CA501(c)(3)Grant$287,485
Carnegie Mellon UniversityPittsburgh, PA501(c)(3)Grant$280,992
Realize ImpactBainbridge Island, WA501(c)(3)Grant$200,000
Northern Essex Community College Foundation IncHaverhill, MA501(c)(3)Grant$108,200

International Summary

Offices
0
Employees
15
Spending
$1,628,392

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-7$1,153,768
Sub-Saharan AfricaProgram ServicesServices-4$219,628
South AmericaProgram ServicesServices-2$196,189
Middle East and North AfricaProgram ServicesServices-1$58,024
Russia and Neighboring StatesProgram ServicesServices-1$783
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
No
Compensation from other sources disclosed
Yes
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 2024, the following current officers/trustees of axim collaborative, inc. Were employed by mit, of which glen shor was an officer and director: cynthia barnhart, katherine hammer, and w. Eric grimson. For fiscal year 2024, the following current officers/trustees of axim collaborative, inc. Were employed by harvard, of which alan garber, john manning, 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 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
2025-05-14

Organization Details

Formed
2012
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
1
Employees
24
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

FUNDED CONTRIBUTIONS - Total Expense: 1570202, Program Service Expense: 1570202, Management and General Expenses: , Fundraising Expenses: ; OTHER FEES FOR SERVICE - Total Expense: 574607, Program Service Expense: 151543, Management and General Expenses: 423064, Fundraising Expenses: ; ENGINEERING - Total Expense: 465843, Program Service Expense: 456328, Management and General Expenses: 9515, Fundraising Expenses: ; WEB HOSTING - Total Expense: 293790, Program Service Expense: 146509, Management and General Expenses: 147281, Fundraising Expenses: ; RECRUITING - Total Expense: 225037, Program Service Expense: 158848, Management and General Expenses: 66189, Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , 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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