Civic Intelligence

The J127 Education Foundation

990 • Fiscal year 2017 • EIN 54-1371815

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 23, 2018

Organization ProfileWWW.MERRITTACADEMY.ORG, WWW.FIRSTSTEPSTYSONS.COM

View Organization Page

9657 Blake LaneFairfax, VA 22031

(703) 854-0619

Siviq Scores

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

Liabilities / Assets

69th percentile

0.44x

Higher debt load relative to assets than 69% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

66th percentile

0.47x

Higher debt load relative to revenue than 66% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

67th percentile

9.5%

Higher net margin than 67% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$276,597

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

66th percentile

9.5%

Faster asset growth than 66% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

61st percentile

9.0%

Faster revenue growth than 61% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$15,358,571

Up $1,337,389 (+9.5%) from 2016

Net Assets

Up

$8,622,647

Up $1,374,557 (+19%) from 2016

Liabilities

Down

$6,735,924

Down $37,168 (-0.5%) from 2016

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin67th percentile

Revenue

Up

$14,405,323

Up $1,190,481 (+9.0%) from 2016

Expenses

Up

$13,033,631

Up $390,196 (+3.1%) from 2016

Net Income

Up

$1,371,692

Up $800,285 (+140%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$40M$30M$20M$10M$0Assets 2011: $8,625,829Liabilities 2011: $6,454,819Net Assets 2011: $2,171,0102011Assets 2012: $9,906,587Liabilities 2012: $6,710,560Net Assets 2012: $3,196,0272012Assets 2013: $10,661,738Liabilities 2013: $6,625,080Net Assets 2013: $4,036,6582013Assets 2014: $12,394,730Liabilities 2014: $6,847,214Net Assets 2014: $5,547,5162014Assets 2015: $13,409,627Liabilities 2015: $6,676,553Net Assets 2015: $6,733,0742015Assets 2016: $14,021,182Liabilities 2016: $6,773,092Net Assets 2016: $7,248,0902016Assets 2017: $15,358,571Liabilities 2017: $6,735,924Net Assets 2017: $8,622,6472017Assets 2018: $16,520,492Liabilities 2018: $6,503,192Net Assets 2018: $10,017,3002018Assets 2019: $17,432,865Liabilities 2019: $6,143,612Net Assets 2019: $11,289,2532019Assets 2020: $16,958,936Liabilities 2020: $7,281,694Net Assets 2020: $9,677,2422020Assets 2021: $24,052,586Liabilities 2021: $10,314,775Net Assets 2021: $13,737,8112021Assets 2022: $22,852,049Liabilities 2022: $8,483,869Net Assets 2022: $14,368,1802022Assets 2023: $29,517,575Liabilities 2023: $14,157,009Net Assets 2023: $15,360,5662023Assets 2024: $30,048,743Liabilities 2024: $13,824,386Net Assets 2024: $16,224,3572024

Highlighted filing

2017

Assets$15,358,571
Liabilities$6,735,924
Net Assets$8,622,647
Open 2017 Filing

Operations Trend

Revenue Growth61st percentile

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

$20M$10M$0-$10MRevenue 2011: $5,569,106Expenses 2011: $4,771,277Net Income 2011: $797,8292011Revenue 2012: $11,059,229Expenses 2012: $9,940,852Net Income 2012: $1,118,3772012Expenses 2013: $10,449,0672013Revenue 2014: $12,137,712Expenses 2014: $10,867,261Net Income 2014: $1,270,4512014Revenue 2015: $13,574,240Expenses 2015: $12,108,865Net Income 2015: $1,465,3752015Revenue 2016: $13,214,842Expenses 2016: $12,643,435Net Income 2016: $571,4072016Revenue 2017: $14,405,323Expenses 2017: $13,033,631Net Income 2017: $1,371,6922017Revenue 2018: $14,000,036Expenses 2018: $13,139,811Net Income 2018: $860,2252018Revenue 2019: $15,038,476Expenses 2019: $13,883,880Net Income 2019: $1,154,5962019Revenue 2020: $12,709,959Expenses 2020: $14,054,498Net Income 2020: -$1,344,5392020Revenue 2021: $14,577,728Expenses 2021: $12,678,218Net Income 2021: $1,899,5102021Revenue 2022: $19,636,804Expenses 2022: $15,115,884Net Income 2022: $4,520,9202022Revenue 2023: $15,835,432Expenses 2023: $16,119,878Net Income 2023: -$284,4462023Revenue 2024: $16,827,456Expenses 2024: $16,612,177Net Income 2024: $215,2792024

Highlighted filing

2017

Revenue$14,405,323
Expenses$13,033,631
Net Income$1,371,692
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 23, 2018
Return Version
2016v3.0
Gross Receipts
$14,405,323
Mission and Program Overview

Mission

Elementary education and daycare services to students ranging in age from 6 weeks to 14 years old.

Elementary education and day care services to approximately 630 students ranging in age from 6 weeks to 14 years.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,573,283$7,777,513▲ $2,204,230
Land, Buildings, and Equipment, Net$5,777,613$5,567,407▼ $210,206
Cash and Non-Interest-Bearing Accounts$1,218,935$1,688,015▲ $469,080
Prepaid Expenses and Deferred Charges$236,247$237,577▲ $1,330
Accounts Receivable$72,672$58,489▼ $14,183
Total Assets$14,021,182$15,358,571▲ $1,337,389
Other Assets Total$1,142,432$29,570▼ $1,112,862
Liabilities
Other Liabilities$4,636,518$4,458,351▼ $178,167
Deferred Revenue$1,394,171$1,484,367▲ $90,196
Accounts Payable and Accrued Expenses$742,403$793,206▲ $50,803
Total Liabilities$6,773,092$6,735,924▼ $37,168
Net Assets / Fund Balance
Unrestricted Net Assets$7,246,590$8,621,147▲ $1,374,557
Temporarily Rstr Net Assets$1,000$1,000→ $0
Permanently Rstr Net Assets$500$500→ $0
Total Net Assets Fund Balance$7,248,090$8,622,647▲ $1,374,557
Total Liabilities and Net Assets / Fund Balance$14,021,182$15,358,571▲ $1,337,389

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$3,874,306$4,302,941$8,177,247
Buildings$1,231,959$1,235,071$2,467,030
Equipment$299,285$575,685$874,970
Other Land Buildings$161,857$130,654$292,511
Other Securities$7,777,513--
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christin SolySecretary; Executive DirecFT$209,622$66,975$276,597
Peter SmithDirector of FacilitiesFT$114,507$9,185$123,692
Linda PottsPrincipalFT$100,673$12,041$112,714
Desiree KardashianDirector of Finance and AdFT$100,000$483$100,483

Board Members and Trustees

NameTitle
Teresa KlaassenChairman
Paul KlaassenVice Chairman
Carol EdelsteinDirector
Susie Clarkdirector
Revenue and Support

Revenue Composition

Contributions and Grants
$32,365
Program Service Revenue
$13,612,828
Investment Income
$680,048
Other Revenue
$80,082
All Other Contributions
$32,365
Change in Net Assets
$1,371,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,361,862
Revenue Not Reported on Financial Statements
$43,461
Revenue Not Reported on Form 990
$-353,950
Total Revenue per Audited Statements
$14,007,912
Total Revenue per Form 990
$14,405,323
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,279,261
Other Expenses$3,397,555
Grants and Similar Amounts Paid$356,815
Total Fundraising Expense$12,609
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,549,350$890,691-$7,440,041
Occupancy$1,137,228$57,398-$1,194,626
Other Employee Benefits$739,733$180,543-$920,276
Payroll Taxes$509,384$66,216-$575,600
Depreciation Depletion$427,824$22,517-$450,341
Grants to Domestic Individuals$356,815--$356,815
Current Officers, Directors, Trustees, and Key Employees$268,228$36,656-$304,884
Office Expenses$220,347$18,250-$238,597
Insurance$203,805$10,727-$214,532
Fees for Services Accounting-$117,008-$117,008
Interest$71,984$3,789-$75,773
Other Expenses$64,494$3,394-$67,888
Fees for Services Other$61,936$5,564-$67,500
Information Technology$42,895$20,356-$63,251
All Other Expenses$35,704$4,125$12,609$52,438
Fees for Service Investment Mgmnt Fees-$43,461-$43,461
Pension Plan Contributions$23,169$15,291-$38,460
Advertising-$29,247-$29,247
Fees for Services Legal-$12,381-$12,381
Travel$5,292$816-$6,108
Fees for Services Management-$-36,297-$-36,297
Total Functional Expenses$11,518,889$1,502,133$12,609$13,033,631

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$13,033,631
Expenses per Audited Statements$12,633,355
Total Expenses per Audited Statements$12,633,355
Expenses Not Reported on Financial Statements$400,276
Other Expense Adjustments$356,815
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$18,796
Fundraising Direct Expenses$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-mr. & mrs. klaassen are officers of the foundationThe Foundation Leases Property Owned by Mr. & Mrs. Klaasen.No$232,689
chriSTIN SOLYms. soly is a family member of the officerscompensation paid to ms. soly as an employee of the foundation.No$209,909
paUL AND TERESA KLAASSENMr. & Mrs. Klaassen Are Officers of the Foundation and Owners of AppletreeThe Foundation Leases Property From Appletree of Fairfax Inc.No$152,400
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
due to J127 Foundation$4,203,701
deferred rent incentive$245,050
Capital Lease Obligations$9,600
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 family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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, Section A, line 2

“paul and teresa klaassen are husband and wife. christin soly is their daughter.”

Form 990, Part VI, Section A, line 7A

“The J127 Foundation is the sole member and has the right to appoint the board.”

Form 990, Part VI, Section A, line 7B

“The sole member, J127 Foundation, has the power to appoint and remove the school's headmaster, to approve any borrowings by the Education Foundation, to elect and remove the directors of the Educaton Foundation, and to approve the adoption of and any admendments to the Bylaws.”

Form 990, Part VI, Section A, line 8B

“the foundation has no committees with the authority to act on behalf of the governing body and therefore there are no meetings to document.”

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

“The accounting director reviews the form 990 and then submits it to the chairman of the board or secretary of the board for review and signature.”

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

“All board members completed a disclosure statement and will do so on an annual basis. In the event of a potential conflict, that person will recuse himself/herself from all discussions and vote.”

Form 990, Part VI, Section B, line 15B

“the board performs a thorough review to determine suitable compensation. this process includes a review of comparability data. comparability data can include compensation surveys, and written employment contracts. the board retains documentation of the deliberation and final decision.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The J127 Education Foundation
EIN
54-1371815
Phone
7038540619
Address
9657 BLAKE LANE, FAIRFAX, VA 22031

Signing Officer

Name
Christin Soly
Title
Executive Director
Phone
7038540619
Signed
2018-02-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christin Soly
Formed
1986
Legal Domicile
Va
Voting Board Members
4
Independent Board Members
2
Employees
385
Volunteers
0

Preparer

Firm
Cherry Bekaert Llp
Address
1111 Metropolitan Ave Ste 1000, Charlotte, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“The Education Foundation is exempt from federal income taxes under Internal Revenue Code Section 501(c)(3) and accordingly, no provision for income taxes has been recorded in the financial statements. Management has evaluated the effect of the guidance provided by accounting standards generally accepted in the United States of America on Accounting for Uncertainty in Income Taxes. Management believes that the Education Foundation continues to satisfy the requirements of a tax-exempt organization at June 30, 2017. Management has evaluated all other tax positions that could have a significant effect on the financial statements and determined that the Education Foundation had no uncertain tax positions at June 30, 2017.”

Part XI, Line 2D - Other Adjustments:

“tuition discounts shown net of revenue on financials -356,815.”

Part XII, Line 4B - Other Adjustments:

“Tuition discounts shown net of revenue on financials 356,815.”

Raw XML AppendixShowing 400 of 574 raw XML fields

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/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt020356
IRS990/InformationTechnologyGrp/ProgramServicesAmt042895
IRS990/InformationTechnologyGrp/TotalAmt063251
IRS990/InsuranceGrp/ManagementAndGeneralAmt010727
IRS990/InsuranceGrp/ProgramServicesAmt0203805
IRS990/InsuranceGrp/TotalAmt0214532
IRS990/InterestGrp/ManagementAndGeneralAmt03789
IRS990/InterestGrp/ProgramServicesAmt071984
IRS990/InterestGrp/TotalAmt075773
IRS990/InvestmentIncomeGrp/ExclusionAmt0114292
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0114292
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt05573283
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt07777513
IRS990/IRPDocumentCnt033
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt06244351
IRS990/LandBldgEquipBasisNetGrp/BOYAmt05777613
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05567407
IRS990/LandBldgEquipCostOrOtherBssAmt011811758
IRS990/LegalDomicileStateCd0VA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt03768
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt03768
IRS990/MissionDesc0THE J127 EDUCATION FOUNDATION RUNS ACTIVITIES OF THREE PRIVATE SCHOOLS IN NORTHERN VIRGINIA.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt07248090
IRS990/NetAssetsOrFundBalancesEOYAmt08622647
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0565756
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0565756
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt018796
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt018796
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt057518
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt057518
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt02865
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt057398
IRS990/OccupancyGrp/ProgramServicesAmt01137228
IRS990/OccupancyGrp/TotalAmt01194626
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt018250
IRS990/OfficeExpensesGrp/ProgramServicesAmt0220347
IRS990/OfficeExpensesGrp/TotalAmt0238597
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01142432
IRS990/OtherAssetsTotalGrp/EOYAmt029570
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0180543
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0739733
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0920276
IRS990/OtherExpensesGrp/Desc0food services
IRS990/OtherExpensesGrp/Desc1school operations
IRS990/OtherExpensesGrp/Desc2after school activities
IRS990/OtherExpensesGrp/Desc3PROPERTY TAXES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03394
IRS990/OtherExpensesGrp/ProgramServicesAmt0452385
IRS990/OtherExpensesGrp/ProgramServicesAmt1278357
IRS990/OtherExpensesGrp/ProgramServicesAmt269959
IRS990/OtherExpensesGrp/ProgramServicesAmt364494
IRS990/OtherExpensesGrp/TotalAmt0452385
IRS990/OtherExpensesGrp/TotalAmt1278357
IRS990/OtherExpensesGrp/TotalAmt269959
IRS990/OtherExpensesGrp/TotalAmt367888
IRS990/OtherLiabilitiesGrp/BOYAmt04636518
IRS990/OtherLiabilitiesGrp/EOYAmt04458351
IRS990/OtherRevenueTotalAmt03768
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0890691
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06549350
IRS990/OtherSalariesAndWagesGrp/TotalAmt07440041
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt066216
IRS990/PayrollTaxesGrp/ProgramServicesAmt0509384
IRS990/PayrollTaxesGrp/TotalAmt0575600
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt015291
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt023169
IRS990/PensionPlanContributionsGrp/TotalAmt038460
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0500
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0500
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0236247
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0237577
IRS990/PrincipalOfficerNm0CHRISTIN SOLY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611110
IRS990/ProgramServiceRevenueGrp/Desc0TUITION
IRS990/ProgramServiceRevenueGrp/Desc1OTHER SCHOOL RELATED INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt013052515
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1560313
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013052515
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1560313
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt08005
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0344080
IRS990/PYInvestmentIncomeAmt0-13411
IRS990/PYOtherExpensesAmt03228057
IRS990/PYOtherRevenueAmt072449
IRS990/PYProgramServiceRevenueAmt013147799
IRS990/PYRevenuesLessExpensesAmt0571407
IRS990/PYSalariesCompEmpBnftPaidAmt09058877
IRS990/PYTotalExpensesAmt012643435
IRS990/PYTotalProfFndrsngExpnsAmt012421
IRS990/PYTotalRevenueAmt013214842
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01371692
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt057518
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt013616596
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01231959
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01235071
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02467030
IRS990ScheduleD/EquipmentGrp/BookValueAmt0299285
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0575685
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0874970
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0400276
IRS990ScheduleD/ExpensesSubtotalAmt012633355
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt043461
IRS990ScheduleD/InvestmentExpensesNotIncldAmt043461
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03874306
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04302941
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt08177247
IRS990ScheduleD/NetUnrealizedGainsInvstAmt02865
IRS990ScheduleD/OtherExpensesNotIncludedAmt0356815
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0161857
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0130654
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0292511
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0245050
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14203701
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt29600
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0deferred rent incentive
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1due to J127 Foundation
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Capital Lease Obligations
IRS990ScheduleD/OtherRevenueAmt0-356815
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt07777513
IRS990ScheduleD/OtherSecuritiesGrp/Desc0investments with j127 foundation
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt0-353950
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt043461
IRS990ScheduleD/RevenueSubtotalAmt014361862
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Education Foundation is exempt from federal income taxes under Internal Revenue Code Section 501(c)(3) and accordingly, no provision for income taxes has been recorded in the financial statements. Management has evaluated the effect of the guidance provided by accounting standards generally accepted in the United States of America on Accounting for Uncertainty in Income Taxes. Management believes that the Education Foundation continues to satisfy the requirements of a tax-exempt organization at June 30, 2017. Management has evaluated all other tax positions that could have a significant effect on the financial statements and determined that the Education Foundation had no uncertain tax positions at June 30, 2017.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1tuition discounts shown net of revenue on financials -356,815.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2TUITION DISCOUNTS SHOWN NET OF REVENUE ON FINANCIALS 356,815.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05567407
IRS990ScheduleD/TotalBookValueSecuritiesAmt07777513
IRS990ScheduleD/TotalExpensesPerForm990Amt013033631
IRS990ScheduleD/TotalLiabilityAmt04458351
IRS990ScheduleD/TotalRevenuePerForm990Amt014405323
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014007912
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012633355
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The Foundation's website includes a statement about our nondiscriminatory policy.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FINANCIAL AID TO STUDENT FAMILIES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt0356815
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt017
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Financial Aid awarded to student families is made based upon need and application, and is used only for tuition. financial aid money is credited directly to the students' accounts.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0209622
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,358,571
Liabilities
$6,735,924
Net assets
$8,622,647
Revenue
$14,405,323
Expenses
$13,033,631
Net income
$1,371,692
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.0$13.8$16.2$16.8$16.6$0.22
2023Detailed filing. Detailed filing data is available for this year.$29.5$14.2$15.4$15.8$16.1$0.28
2022Detailed filing. Detailed filing data is available for this year.$22.9$8.48$14.4$19.6$15.1$4.52
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$10.3$13.7$14.6$12.7$1.90
2020Detailed filing. Detailed filing data is available for this year.$17.0$7.28$9.68$12.7$14.1$1.34
2019Detailed filing. Detailed filing data is available for this year.$17.4$6.14$11.3$15.0$13.9$1.15
2018Detailed filing. Detailed filing data is available for this year.$16.5$6.50$10.0$14.0$13.1$0.86
2017Detailed filing. Detailed filing data is available for this year.$15.4$6.74$8.62$14.4$13.0$1.37
2016Detailed filing. Detailed filing data is available for this year.$14.0$6.77$7.25$13.2$12.6$0.57
2015Detailed filing. Detailed filing data is available for this year.$13.4$6.68$6.73$13.6$12.1$1.47
2014Detailed filing. Detailed filing data is available for this year.$12.4$6.85$5.55$12.1$10.9$1.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$6.63$4.04$10.4
2012Summary only. Only limited summary data is available for this year.$9.91$6.71$3.20$11.1$9.94$1.12
2011Summary only. Only limited summary data is available for this year.$8.63$6.45$2.17$5.57$4.77$0.80