Civic Intelligence

Khan Lab School

990 • Fiscal year 2023 • EIN 46-5742553

Aug 01, 2022 to Jul 31, 2023 • Filed on Feb 08, 2024

Organization ProfileWWW.KHANLABSCHOOL.ORG

View Organization Page

1200 Villa Street Suite 100Mountain View, CA 94041

(650) 489-0071

Siviq Scores

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

Liabilities / Assets

88th percentile

0.83x

Higher debt load relative to assets than 88% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

88th percentile

1.90x

Higher debt load relative to revenue than 88% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

35th percentile

-0.8%

Higher net margin than 35% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$439,204

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

94th percentile

76%

Faster asset growth than 94% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

49th percentile

4.9%

Faster revenue growth than 49% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$21,548,987

Up $9,329,747 (+76%) from 2022

Net Assets

Up

$3,727,922

Up $165,194 (+4.6%) from 2022

Liabilities

Up

$17,821,065

Up $9,164,553 (+106%) from 2022

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin35th percentile

Revenue

Up

$9,358,436

Up $433,999 (+4.9%) from 2022

Expenses

Up

$9,437,309

Up $1,342,847 (+17%) from 2022

Net Income

Down

-$78,873

Down $908,848 (-110%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$30M$20M$10M$0-$10MAssets 2015: $1,243,024Liabilities 2015: $1,271,841Net Assets 2015: -$28,8172015Assets 2016: $3,450,846Liabilities 2016: $2,200,044Net Assets 2016: $1,250,8022016Assets 2017: $5,138,446Liabilities 2017: $4,020,055Net Assets 2017: $1,118,3912017Assets 2018: $6,046,698Liabilities 2018: $4,957,172Net Assets 2018: $1,089,5262018Assets 2019: $7,213,468Liabilities 2019: $5,585,970Net Assets 2019: $1,627,4982019Assets 2020: $8,876,995Liabilities 2020: $6,997,391Net Assets 2020: $1,879,6042020Assets 2021: $10,479,478Liabilities 2021: $7,746,725Net Assets 2021: $2,732,7532021Assets 2022: $12,219,240Liabilities 2022: $8,656,512Net Assets 2022: $3,562,7282022Assets 2023: $21,548,987Liabilities 2023: $17,821,065Net Assets 2023: $3,727,9222023Assets 2024: $20,679,491Liabilities 2024: $16,205,496Net Assets 2024: $4,473,9952024

Highlighted filing

2023

Assets$21,548,987
Liabilities$17,821,065
Net Assets$3,727,922
Open 2023 Filing

Operations Trend

Revenue Growth49th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2015: $115,333Expenses 2015: $242,680Net Income 2015: -$127,3472015Revenue 2016: $3,359,146Expenses 2016: $2,263,016Net Income 2016: $1,096,1302016Revenue 2017: $3,545,156Expenses 2017: $3,677,567Net Income 2017: -$132,4112017Revenue 2018: $4,706,315Expenses 2018: $4,735,751Net Income 2018: -$29,4362018Revenue 2019: $5,908,401Expenses 2019: $5,370,429Net Income 2019: $537,9722019Revenue 2020: $5,734,778Expenses 2020: $5,482,672Net Income 2020: $252,1062020Revenue 2021: $7,732,906Expenses 2021: $6,879,760Net Income 2021: $853,1462021Revenue 2022: $8,924,437Expenses 2022: $8,094,462Net Income 2022: $829,9752022Revenue 2023: $9,358,436Expenses 2023: $9,437,309Net Income 2023: -$78,8732023Revenue 2024: $11,225,689Expenses 2024: $10,479,616Net Income 2024: $746,0732024

Highlighted filing

2023

Revenue$9,358,436
Expenses$9,437,309
Net Income-$78,873
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2022 to Jul 31, 2023
Signed
Feb 8, 2024
Return Version
2022v5.0
Gross Receipts
$9,367,968
Mission and Program Overview

Mission

Khan lab school is a community of learners empowering every student to navigate their own path.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$6,908,539$4,537,343▼ $2,371,196
Savings and Temporary Cash Investments-$4,236,403-
Accounts Receivable$3,742,750$4,006,459▲ $263,709
Land, Buildings, and Equipment, Net$730,095$764,921▲ $34,826
Pledges and Grants Receivable$610,000$0▼ $610,000
Prepaid Expenses and Deferred Charges$121,749$148,583▲ $26,834
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$12,219,240$21,548,987▲ $9,329,747
Other Assets Total$106,107$7,855,278▲ $7,749,171
Liabilities
Deferred Revenue$8,373,265$9,671,310▲ $1,298,045
Other Liabilities$17,688$7,731,788▲ $7,714,100
Accounts Payable and Accrued Expenses$265,559$417,967▲ $152,408
Total Liabilities$8,656,512$17,821,065▲ $9,164,553
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,337,536$3,026,772▲ $689,236
Net Assets With Donor Restrictions$1,225,192$701,150▼ $524,042
Total Net Assets Fund Balance$3,562,728$3,727,922▲ $165,194
Total Liabilities and Net Assets / Fund Balance$12,219,240$21,548,987▲ $9,329,747

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$357,399$1,430,195$1,787,594
Equipment$362,730$131,817$494,547
Buildings$44,792$5,208$50,000
Other Assets Org$7,755,544--
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kim DowExecutive DirectorFT$317,744$121,460$439,204
Jessica PetersHead of Lower SchFT$130,301$13,806$144,107
Leo LinScience SpecialistFT$115,410$14,748$130,158
Melissa BlancoAcademic DirectorFT$116,165$8,706$124,871
Jennifer ChapaDirector of AdmissFT$107,062$12,714$119,776
Mikki McmillionHead of Middle SchFT$111,293$8,283$119,576
Salman KhanChairmanPT$76,120-$76,120

Board Members and Trustees

NameTitle
Kristen DicerboDirector
Nayo BrooksDirector
Curtis FeenyPres./Treas.
Rakhi SinghSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$390,290
Program Service Revenue
$8,933,037
Investment Income
$12,871
Other Revenue
$22,238
All Other Contributions
$390,290
Change in Net Assets
$-78,873

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,367,968
Revenue Not Reported on Financial Statements
$-9,532
Revenue Not Reported on Form 990
$-227,028
Other Revenue Adjustments
$-9,532
Total Revenue per Audited Statements
$9,140,940
Total Revenue per Form 990
$9,358,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,806,842
Other Expenses$3,403,439
Grants and Similar Amounts Paid$227,028
Total Fundraising Expense$146,183
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,879,609$120,311$49,311$4,049,231
Occupancy$1,489,506$148,950$16,550$1,655,006
Other Employee Benefits$786,140$54,054$9,272$849,466
Current Officers, Directors, Trustees, and Key Employees-$516,276$48,906$565,182
Fees for Services Other$321,280$190,342$5,738$517,360
Payroll Taxes$306,286$31,864$4,813$342,963
Depreciation Depletion$312,492$19,263$5,581$337,336
Grants to Domestic Individuals$227,028--$227,028
All Other Expenses$163,459$4,648$1,346$169,453
Advertising$50,335$3,103$899$54,337
Other Expenses$37,819$11,233$52$49,104
Insurance$33,557$2,069$599$36,225
Total Functional Expenses$8,177,289$1,113,837$146,183$9,437,309

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$9,437,309
Total Expenses per Audited Statements$9,219,813
Expenses per Audited Statements$9,210,281
Expenses Not Reported on Financial Statements$227,028
Other Expense Adjustments$227,028
Expenses Not Reported on Form 990$9,532
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$12,660
Fundraising Direct Expenses$9,532
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$7,731,788
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
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Khan lab school will provide form 990 to each board member before filing with internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“Each director and principal officer of the corporation is given annually a copy of the conflict of interest policy, as it may be amended from time to time, and each director and principal officer of the corporation must sign the conflict of interest policy acknowledgment. In the situation where there is a conflict of interest, the interested person shall leave the board meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest.”

Form 990, Part VI, Section B, Line 15A

“Each compensation arrangement for one of kls's highest compensated employees ("compensated person") is delivered in writing and states the date and the terms of the approved compensation arrangement. The name of each individual who decides on or votes on a compensation arrangement for a compensated person will be recorded in writing. Each compensation arrangement for a compensated person will be based on (a) information about compensation paid by tax-exempt or taxable organizations of comparable size, purpose and resources (taking into account adjustments due to location and other specific conditions), (b) recent compensation surveys compiled by independent firms or (c) actual written offers from other tax-exempt or taxable organization of comparable size, purpose and resources (taking into account adjustments due to location and other specific conditions). All such information and its sources is recorded in writing, and such record is maintained by the secretary with the records of the corporation.”

Form 990, Part VI, Section C, Line 19

“Governing documents and financial statements are available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Khan Lab School
EIN
46-5742553
Phone
6504890071
Address
1200 Villa Street Suite 100, Mountain View, CA 94041

Signing Officer

Name
Kim Dow
Title
Executive Director
Signed
2024-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salman Khan
Formed
2014
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
80
Volunteers
140

Preparer

Firm
West Rhode & Roberts
Address
2741 4th Ave, San Diego, CA 92103
Preparer
Cheryl Rhode
Phone
6196155380
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The School, a California, not-for-profit corporation, is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the State Revenue and Taxation Code. The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification No. 740-10, Accounting for Uncertainties in Income Tax, which sets a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The School has reviewed its position for all open tax years and has determined that it has no uncertain tax positions requiring accrual or disclosure.”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Special event expense $9532”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“FINANCIAL AID $227028”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3ACADEMIC DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7Pres./Treas.
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IRS990/Form990PartVIISectionAGrp/TitleTxt9Secretary
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0KHAN LAB SCHOOL IS A COMMUNITY OF LEARNERS EMPOWERING EVERY STUDENT TO NAVIGATE THEIR OWN PATH.
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OperateHospitalInd0false
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt09272
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0849466
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IRS990/OtherExpensesGrp/Desc2FEES, DUES & LICENSES
IRS990/OtherExpensesGrp/Desc3OTHER EXPENSES
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IRS990/OtherExpensesGrp/FundraisingAmt1426
IRS990/OtherExpensesGrp/FundraisingAmt252
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IRS990/OtherRevenueTotalAmt019110
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IRS990/OtherSalariesAndWagesGrp/TotalAmt04049231
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IRS990/PartialLiquidationInd0false
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt04813
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt031864
IRS990/PayrollTaxesGrp/ProgramServicesAmt0306286
IRS990/PayrollTaxesGrp/TotalAmt0342963
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0148583
IRS990/PrincipalOfficerNm0SALMAN KHAN
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IRS990/ProgramServiceRevenueGrp/Desc1STUDENT PROGRAMS
IRS990/ProgramServiceRevenueGrp/Desc2TUITION
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt173825
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherRevenueAmt0-5921
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IRS990/ReconcilationRevenueExpnssAmt0-78873
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/RevenueSubtotalAmt09367968
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School, a California, not-for-profit corporation, is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the State Revenue and Taxation Code. The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification No. 740-10, Accounting for Uncertainties in Income Tax, which sets a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The School has reviewed its position for all open tax years and has determined that it has no uncertain tax positions requiring accrual or disclosure.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENT EXPENSE $9532
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FINANCIAL AID $227028

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,548,987
Liabilities
$17,821,065
Net assets
$3,727,922
Revenue
$9,358,436
Expenses
$9,437,309
Net income
-$78,873
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$20.7$16.2$4.47$11.2$10.5$0.75
2023Detailed filing. Detailed filing data is available for this year.$21.5$17.8$3.73$9.36$9.44$0.08
2022Detailed filing. Detailed filing data is available for this year.$12.2$8.66$3.56$8.92$8.09$0.83
2021Detailed filing. Detailed filing data is available for this year.$10.5$7.75$2.73$7.73$6.88$0.85
2020Summary only. Only limited summary data is available for this year.$8.88$7.00$1.88$5.73$5.48$0.25
2019Detailed filing. Detailed filing data is available for this year.$7.21$5.59$1.63$5.91$5.37$0.54
2018Detailed filing. Detailed filing data is available for this year.$6.05$4.96$1.09$4.71$4.74$0.03
2017Detailed filing. Detailed filing data is available for this year.$5.14$4.02$1.12$3.55$3.68$0.13
2016Detailed filing. Detailed filing data is available for this year.$3.45$2.20$1.25$3.36$2.26$1.10
2015Summary only. Only limited summary data is available for this year.$1.24$1.27$0.03$0.12$0.24$0.13