Civic Intelligence

The Foundation

EIN 92-0742101 • 501(c)3 • Austin, TX

Pub. 78 Eligible

Profile

The foundation's mission is to create and operate an independent primary and secondary school and, ultimately, a university dedicated to education at the highest level.

PO Box 341886Austin, TX 78734

www.adastraschool.org

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

Higher debt load relative to assets than 2% of similar nonprofits.

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

Liabilities / Revenue

2nd percentile

0.00x

Higher debt load relative to revenue than 2% of similar nonprofits.

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

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

94th percentile

33%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

88th percentile

38%

Faster revenue growth than 88% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$269,949,761

Up $66,967,254 (+33%) from 2023

Liabilities

Down

$3,989

Down $41,319 (-91%) from 2023

Net Assets

Up

$269,945,772

Up $67,008,573 (+33%) from 2023

Operations
Liabilities / Revenue2nd percentileNet Margin100th percentile

Revenue

Up

$138,258,450

Up $38,148,091 (+38%) from 2023

Expenses

Up

$85,557

Up $60,172 (+237%) from 2023

Net Income

Up

$138,172,893

Up $38,087,919 (+38%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth94th percentile

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

$300M$200M$100M$0Assets 2023: $202,982,507Liabilities 2023: $45,308Net Assets 2023: $202,937,1992023Assets 2024: $269,949,761Liabilities 2024: $3,989Net Assets 2024: $269,945,7722024

Highlighted filing

2024

Assets$269,949,761
Liabilities$3,989
Net Assets$269,945,772
Open 2024 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0Revenue 2023: $100,110,359Expenses 2023: $25,385Net Income 2023: $100,084,9742023Revenue 2024: $138,258,450Expenses 2024: $85,557Net Income 2024: $138,172,8932024

Highlighted filing

2024

Revenue$138,258,450
Expenses$85,557
Net Income$138,172,893
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$269,949,761
Liabilities
$3,989
Net assets
$269,945,772
Revenue
$138,258,450
Expenses
$85,557
Net income
$138,172,893
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$270$0.00$270$138$0.09$138
2023Detailed filing. Detailed filing data is available for this year.$203$0.05$203$100$0.03$100
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
$138,258,450
Mission and Program Overview

Mission

The foundation's mission is to create and operate an independent primary and secondary school and, ultimately, a university dedicated to education at the highest level.

To create schools dedicated to stem education at the highest levels.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$202,937,199$269,945,772▲ $67,008,573
Investments Other Securities$192,793,605$223,896,471▲ $31,102,866
Cash and Non-Interest-Bearing Accounts$5,197,401$40,683,288▲ $35,485,887
Land, Buildings, and Equipment, Net$4,907,191$5,047,479▲ $140,288
Intangible Assets$81,310$319,523▲ $238,213
Accounts Receivable$3,000$3,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$202,982,507$269,949,761▲ $66,967,254
Liabilities
Accounts Payable and Accrued Expenses$45,308$3,989▼ $41,319
Total Liabilities$45,308$3,989▼ $41,319
Net Assets / Fund Balance
Total Net Assets Fund Balance$202,937,199$269,945,772▲ $67,008,573
Total Liabilities and Net Assets / Fund Balance$202,982,507$269,949,761▲ $66,967,254

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,279,146-$3,279,146
Land$1,768,333-$1,768,333
Other Securities$223,896,471--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Jared BirchallPresident
Steven ChidesterTrustee
Ronald GongSecretary
Teresa HollandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$137,075,943
Program Service Revenue
$0
Investment Income
$1,182,507
Other Revenue
$0
All Other Contributions
$137,075,943
Change in Net Assets
$138,172,893

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded394,976$102,267,186Average of High/low
Total Noncash Contributions394,976$102,267,186-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,557
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$51,061-$51,061
Insurance$3,232--$3,232
Fees for Services Accounting-$2,855-$2,855
Fees for Services Other-$1,698-$1,698
Other Expenses$1,054$1,077-$1,054
All Other Expenses$415$5-$420
Total Functional Expenses$27,430$58,127$0$85,557
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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 A, Line 2

“Two of the trustees are business partners.”

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

“The form 990 was prepared by the school's accountant and reviewed by the board. At this time, the form 990 was reviewed in detail and approved for submission to the internal revenue service.”

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

“Each trustee and officer has signed a statement affirming that he/she has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with such policy, and agrees that the organization may only engage in activities that accomplish one or more of its exempt purposes. Thereby, each trustee and officer has acknowledged a duty to disclose actual or potential conflicts of interest as they arise. The school regularly and consistently monitors to determine whether any such actual or potential conflicts of interest are disclosed or exist.”

Form 990, Part VI, Section B, Line 15

“The foundation currently has no compensated officers, trustees, or key employees. If and when the foundation compensates its officers, trustees, or key employees, any such compensation decision will be made by independent persons, using comparability data, with contemporaneous substantiation of the deliberation and decision.”

Form 990, Part VI, Section C, Line 19

“The foundation makes available to the public upon request the following governing documents: - internal revenue service tax determination letter - filed form 1023 - filed form 990 for the three most recent fiscal years”

Filing and Contact Details

Filer

Filer Name
The Foundation
EIN
92-0742101
Phone
7372356956
Address
PO BOX 341886, AUSTIN, TX 78734
Doing Business As
The X Foundation

Signing Officer

Name
Jared Birchall
Title
President
Phone
7372356956
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jared Birchall
Formed
2021
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Catalyst Family Office LLC
Address
5113 SOUTHWEST PARKWAY SUITE 275, AUSTIN, TX 78735
Preparer
Ronald F Gong
Phone
3258993143
Supplemental Narrative

Additional Explanations

FORM 990, PART X , LINE 14:

“The foundation has elected to capitalize start-up expenditures under irc section 195 related to the establishment of school operations, incurred during the following tax years: june 30, 2023: $81,310 june 30, 2024: $238,213 total: $319,523”

Raw XML Appendix374 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/Desc0THE FOUNDATION IS IN THE PROCESS OF OPENING AN UPPER AND LOWER ELEMENTARY SCHOOL IN BASTROP, TEXAS FOCUSED ON TEACHING STEM SUBJECTS AND OTHER RELATED TOPICS. THE SCHOOL IS CURRENTLY PROJECTED TO OPEN DURING THE NEXT FISCAL YEAR. THE SCHOOL'S PRIMARY FUNCTION WILL BE FORMAL INSTRUCTION AND CURRICULUM BY A REGULAR FACULTY TO A REGULARLY ENROLLED STUDENT BODY IN BASTROP, TEXAS. DISTANCE LEARNERS MAY BE INCLUDED IN THE FUTURE. THE SCHOOL'S PROJECTED CAPACITY IS APPROXIMATELY 54 STUDENTS, AND IT PLANS TO EXPAND BASED ON THE NEEDS OF THE LOCAL COMMUNITY AND ON A TIMELINE THAT PROVIDES FOR QUALITY EDUCATION AND OVERALL EXPERIENCE.
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IRS990ScheduleD/OtherSecuritiesGrp/Desc01,131,476 SHARES OF TESLA INC.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION DISPLAYS A NOTICE OF ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS PRIMARY PUBLICLY ACCESSIBLE INTERNET WEBPAGE AT ALL TIMES IN A MANNER REASONABLY EXPECTED TO BE NOTICED BY VISITORS TO THE SCHOOL WEBSITE: WWW.ADASTRASCHOOL.ORG
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS CURRENTLY ENGAGED IN ACTIVE PLANNING AND DESIGN OF THE SCHOOL. HOWEVER, SCHOOL OPERATIONS HAVE NOT YET COMMENCED. BEFORE ACCEPTING APPLICATIONS FROM STUDENTS, THE SCHOOL WILL ENSURE IT IS COMPLIANT WITH ALL STATUTORY REQUIREMENTS, INCLUDING PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICIES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I:
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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION RECEIVED 394,976 SHARES OF TESLA INC. STOCK
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO OF THE TRUSTEES ARE BUSINESS PARTNERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WAS PREPARED BY THE SCHOOL'S ACCOUNTANT AND REVIEWED BY THE BOARD. AT THIS TIME, THE FORM 990 WAS REVIEWED IN DETAIL AND APPROVED FOR SUBMISSION TO THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH TRUSTEE AND OFFICER HAS SIGNED A STATEMENT AFFIRMING THAT HE/SHE HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH SUCH POLICY, AND AGREES THAT THE ORGANIZATION MAY ONLY ENGAGE IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS EXEMPT PURPOSES. THEREBY, EACH TRUSTEE AND OFFICER HAS ACKNOWLEDGED A DUTY TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. THE SCHOOL REGULARLY AND CONSISTENTLY MONITORS TO DETERMINE WHETHER ANY SUCH ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE DISCLOSED OR EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION CURRENTLY HAS NO COMPENSATED OFFICERS, TRUSTEES, OR KEY EMPLOYEES. IF AND WHEN THE FOUNDATION COMPENSATES ITS OFFICERS, TRUSTEES, OR KEY EMPLOYEES, ANY SUCH COMPENSATION DECISION WILL BE MADE BY INDEPENDENT PERSONS, USING COMPARABILITY DATA, WITH CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION MAKES AVAILABLE TO THE PUBLIC UPON REQUEST THE FOLLOWING GOVERNING DOCUMENTS: - INTERNAL REVENUE SERVICE TAX DETERMINATION LETTER - FILED FORM 1023 - FILED FORM 990 FOR THE THREE MOST RECENT FISCAL YEARS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FOUNDATION HAS ELECTED TO CAPITALIZE START-UP EXPENDITURES UNDER IRC SECTION 195 RELATED TO THE ESTABLISHMENT OF SCHOOL OPERATIONS, INCURRED DURING THE FOLLOWING TAX YEARS: JUNE 30, 2023: $81,310 JUNE 30, 2024: $238,213 TOTAL: $319,523
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART X , LINE 14:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0THE FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1THE FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0BSP 2023 LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1AD ASTRA SCHOOL LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0923110785
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1934121814
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt05269721
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt1299187
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0REAL ESTATE HOLDING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1EDUCATIONAL OPERATIONS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0PO BOX 341886
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt1PO BOX 341886
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0AUSTIN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1AUSTIN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd078734
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd178734
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0202982507
IRS990/TotalAssetsEOYAmt0269949761
IRS990/TotalAssetsGrp/BOYAmt0202982507
IRS990/TotalAssetsGrp/EOYAmt0269949761
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0137075943
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt058127
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt027430
IRS990/TotalFunctionalExpensesGrp/TotalAmt085557
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt045308
IRS990/TotalLiabilitiesEOYAmt03989
IRS990/TotalLiabilitiesGrp/BOYAmt045308
IRS990/TotalLiabilitiesGrp/EOYAmt03989
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0202937199
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0269945772
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt027430
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01182507
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0138258450
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0202982507
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0269949761
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 341886
IRS990/USAddress/CityNm0AUSTIN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078734
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.ADASTRASCHOOL.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JARED BIRCHALL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07372356956
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0THEF
ReturnHeader/Filer/EIN0920742101
ReturnHeader/Filer/PhoneNum07372356956
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 341886
ReturnHeader/Filer/USAddress/CityNm0AUSTIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078734
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0831356013
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CATALYST FAMILY OFFICE LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05113 SOUTHWEST PARKWAY SUITE 275
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AUSTIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078735
ReturnHeader/PreparerPersonGrp/PhoneNum03258993143
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD F GONG
ReturnHeader/ReturnTs02025-05-14T17:48:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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