Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,163,126

• 1f · All other contributions, gifts and grants

  $14,586,757

• 2a · Program service revenue: CONTRACTED SERVICES

  total $12,345,506 · related or exempt $12,345,506

• 3 · Investment income

  total $519,064 · excluded $519,064

• 7a · Gross sales of assets other than inventory

  securities $13,312,030

• 7b · Less cost or other basis and sales expenses

  securities $12,393,552

• 7c · Gain or loss

  securities $918,478

• 7d · Net gain or loss

  total $918,478 · excluded $918,478

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,593,669 · program services $531,223 · management and general $531,223 · fundraising $531,223

• 7 · Other salaries and wages

  total $10,300,743 · program services $8,610,048 · management and general $1,641,085 · fundraising $49,610

• 8 · Pension plan contributions

  total $608,081 · program services $499,578 · management and general $99,889 · fundraising $8,614

• 9 · Other employee benefits

  total $1,095,309 · program services $892,592 · management and general $182,445 · fundraising $20,272

• 10 · Payroll taxes

  total $1,010,211 · program services $782,553 · management and general $182,361 · fundraising $45,297

• 11b · Fees: legal

  total $193,666 · management and general $193,666

• 11c · Fees: accounting

  total $547,432 · management and general $438,509 · fundraising $108,923

• 11g · Fees: other

  total $2,918,502 · program services $2,758,811 · fundraising $159,691

• 12 · Advertising and promotion

  total $746,013 · program services $746,013

• 13 · Office expenses

  total $1,292,984 · program services $1,011,871 · management and general $222,542 · fundraising $58,571

• 14 · Information technology

  total $18,246 · program services $18,246

• 16 · Occupancy

  total $22,195 · management and general $22,195

• 17 · Travel

  total $454,753 · program services $352,271 · management and general $82,091 · fundraising $20,391

• 23 · Insurance

  total $106,306 · management and general $106,306

• 24a · Other expenses: STANDARD INSTITUTE AND

  total $7,484,949 · program services $7,484,949

• 24b · Other expenses: INTEGRATION EXPENSE

  total $385,189 · management and general $385,189

• 24c · Other expenses: COST OF GOODS SOLD

  total $152,682 · program services $152,682

• 24d · Other expenses: STAFF DEVELOPMENT

  total $82,116 · program services $63,611 · management and general $14,823 · fundraising $3,682

• 24e · All other expenses

  total $25,856 · management and general $25,856

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,867,692 · end of year $4,041,299

• 2 · Savings and temporary cash investments

  beginning of year $5,688,073 · end of year $1,512,659

• 3 · Pledges and grants receivable

  beginning of year $2,760,000 · end of year $900,000

• 4 · Accounts receivable

  beginning of year $4,395,836 · end of year $5,213,097

• 7 · Other notes and loans receivable

  end of year $2,165,432

• 9 · Prepaid expenses and deferred charges

  beginning of year $734,792 · end of year $1,446,770

• 11 · Investments: publicly traded securities

  beginning of year $7,758,309 · end of year $9,440,644

• 15 · Other assets

  beginning of year $1,783,432 · end of year $1,783,432

• 17 · Accounts payable and accrued expenses

  beginning of year $3,641,891 · end of year $3,832,361

• 19 · Deferred revenue

  beginning of year $1,661,700 · end of year $1,492,400

• 27 · Net assets without donor restrictions

  beginning of year $15,057,247 · end of year $14,235,595

• 28 · Net assets with donor restrictions

  beginning of year $4,627,296 · end of year $6,942,977

The filer's explanations (Part III)

PART I, LINE 7

BONUSES REPORTED IN THE COMPENSATION TABLE WERE AWARDED BASED ON A VARIETY OF FACTORS, INCLUDING PROVISIONS OUTLINED IN EMPLOYMENT AGREEMENTS, APPROVAL BY THE BOARD OF DIRECTORS, RETENTION INCENTIVES, AND ORGANIZATIONAL REVENUE.

FORM 990, PART VII, SECTION B

IN FISCAL YEAR 2024, THE ORGANIZATION PAID $374,500 IN SEVERANCE COMPENSATION TO ARUN RAMANATHAN, WHO SERVED AS THE SPECIAL ADVISOR TO THE CEO UNTIL JUNE 2023. THIS AMOUNT WAS PAID PURSUANT TO A SEPARATION AGREEMENT APPROVED BY MANAGEMENT OF THE ORGANIZATION.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CONSORTIUM ON REACHING EXCELLENCE IN EDUCATION

  C · EDUCATION · CA · 100% owned · share of income -$995,381 · share of assets $6,777,413

  Directly controlled by YES