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Nonprofiteer
← KHAN ACADEMY INC

Form 990 for tax year 2023

Filed by KHAN ACADEMY INC.

Totals

Total revenue
$98,267,721
Total expenses
$68,127,201
Contributions and grants received
$84,189,187
Grants paid
$0
Program service revenue
$12,064,239
Investment income
$1,950,682
Other revenue
$63,613
Total assets, end of year
$136,250,357
Total liabilities, end of year
$7,728,577
Net assets or fund balances, end of year
$128,521,780
Program services expenses (Part IX)
$58,078,169
Management and general expenses
$6,690,738
Fundraising expenses
$3,358,294
Program service expenses (Part III)
$58,078,169

Program services were 85.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $84,189,187

  • 1g · Noncash contributions included above

    $5,052,057

  • 2a · Program service revenue: DEVELOPMENT FEES

    total $8,248,614 · related or exempt $8,248,614

  • 2b · Program service revenue: MAINTENANCE FEES

    total $3,635,625 · related or exempt $3,635,625

  • 2c · Program service revenue: CONTENT LICENSING FEES

    total $120,000 · related or exempt $120,000

  • 2d · Program service revenue: SPEAKING FEES

    total $60,000 · related or exempt $60,000

  • 3 · Investment income

    total $2,810,406 · excluded $2,810,406

  • 5 · Royalties

    total $59,583 · excluded $59,583

  • 7a · Gross sales of assets other than inventory

    securities $14,242,673

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

    securities $15,102,397

  • 7c · Gain or loss

    securities -$859,724

  • 7d · Net gain or loss

    total -$859,724 · excluded -$859,724

  • 11a · Other revenue: MISCELLANEOUS

    total $22,335 · excluded $22,335

  • 11b · Other revenue: LOSS ON FOREIGN CURREN

    total -$18,305 · excluded -$18,305

  • 11e · Other revenue, total

    $4,030

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $5,786,200 · program services $3,791,925 · management and general $1,533,023 · fundraising $461,252

  • 7 · Other salaries and wages

    total $37,104,487 · program services $33,023,226 · management and general $2,582,709 · fundraising $1,498,552

  • 9 · Other employee benefits

    total $5,910,546 · program services $5,064,198 · management and general $581,667 · fundraising $264,681

  • 10 · Payroll taxes

    total $2,756,361 · program services $2,404,509 · management and general $214,073 · fundraising $137,779

  • 11b · Fees: legal

    total $163,758 · program services $18,787 · management and general $144,971

  • 11c · Fees: accounting

    total $235,882 · program services $54,450 · management and general $181,432

  • 11f · Fees: investment management

    total $104,692 · management and general $104,692

  • 11g · Fees: other

    total $4,955,325 · program services $4,259,158 · management and general $559,858 · fundraising $136,309

  • 12 · Advertising and promotion

    total $574,808 · program services $512,864 · management and general $13,977 · fundraising $47,967

  • 13 · Office expenses

    total $1,070,796 · program services $566,878 · management and general $166,575 · fundraising $337,343

  • 14 · Information technology

    total $7,349,100 · program services $6,529,169 · management and general $435,819 · fundraising $384,112

  • 16 · Occupancy

    total $1,138,178 · program services $1,010,544 · management and general $84,613 · fundraising $43,021

  • 17 · Travel

    total $757,585 · program services $655,193 · management and general $68,248 · fundraising $34,144

  • 19 · Conferences, conventions and meetings

    total $78,467 · program services $67,177 · management and general $4,816 · fundraising $6,474

  • 22 · Depreciation, depletion and amortization

    total $17,366 · program services $15,116 · management and general $1,492 · fundraising $758

  • 23 · Insurance

    total $100,250 · program services $87,687 · management and general $8,332 · fundraising $4,231

  • 24a · Other expenses: EMPLOYEE & TEACHER GIFT

    total $20,102 · program services $14,852 · management and general $3,815 · fundraising $1,435

  • 24e · All other expenses

    total $3,298 · program services $2,436 · management and general $626 · fundraising $236

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,761,853 · end of year $6,294,509

  • 2 · Savings and temporary cash investments

    beginning of year $38,713 · end of year $1,033,472

  • 3 · Pledges and grants receivable

    beginning of year $3,821,038 · end of year $4,246,813

  • 4 · Accounts receivable

    beginning of year $2,550,183 · end of year $4,766,875

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,305,338 · end of year $1,657,027

  • 10a · Land, buildings and equipment: cost or other basis

    $1,543,246

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,534,879

  • 10c · Land, buildings and equipment, net

    beginning of year $25,731 · end of year $8,367

  • 11 · Investments: publicly traded securities

    beginning of year $91,666,476 · end of year $117,370,915

  • 15 · Other assets

    beginning of year $1,086,392 · end of year $872,379

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,148,832 · end of year $2,678,554

  • 19 · Deferred revenue

    beginning of year $7,415,279 · end of year $4,247,038

  • 25 · Other liabilities

    beginning of year $968,586 · end of year $802,985

  • 27 · Net assets without donor restrictions

    beginning of year $75,120,880 · end of year $82,262,690

  • 28 · Net assets with donor restrictions

    beginning of year $18,602,147 · end of year $46,259,090

Mission and programs · 2023

Mission

A FREE WORLD-CLASS EDUCATION FOR ANYONE, ANYWHERE.

  • PLATFORM DEVELOPMENT: OUR PLATFORM DEVELOPMENT TEAM FOCUSES ON BUILDING THE WEB AND MOBILE SOFTWARE THAT ALLOWS US TO OFFER STUDENTS A WORLD-CLASS, PERSONALIZED LEARNING EXPERIENCE ACROSS MULTIPLE SUBJECT AREAS. BY STRENGTHENING THE PLATFORM, WE ARE ABLE TO PROVIDE STUDENTS WITH A LEARNING EXPERIENCE THAT RIVALS THAT OF A PERSONALIZED, ALWAYS-AVAILABLE TUTOR. IN THE CALENDAR YEAR 2023, AN AVERAGE OF 9.8 MILLION LEARNERS WERE ACTIVE ON OUR PLATFORM EACH MONTH IN MORE THAN 190 COUNTRIES. APPROXIMATELY 50% OF OUR LEARNERS WERE LOCATED OUTSIDE OF THE UNITED STATES. OUR CONTENT IS TRANSLATED INTO MORE THAN 65 LANGUAGES. WE CONTINUE TO MAKE IMPROVEMENTS TO OUR MASTERY LEARNING FEATURES AND EXPANDED CONTENT LIBRARY WITH THE ADDITION OF MORE SUBJECTS, UNIT TESTS AND QUIZZES.

    Expenses $40,118,764 · Revenue $11,884,239

  • CONTENT CREATION AND CURATION: THE KHAN ACADEMY PLATFORM INCLUDES AN EXTENSIVE AND GROWING LIBRARY OF EDUCATIONAL RESOURCES. AT THE END OF 2023, IT CONTAINED APPROXIMATELY 650 ACTIVE COURSES, 39,000 VIDEOS, 22,500 SETS OF PRACTICE PROBLEMS, AND 11,000 ARTICLES. AN AVERAGE OF 9.8 MILLION ACTIVE REGISTERED LEARNERS ACCESSED THE CONTENT EACH MONTH. IN 2023, WE CONTINUED TO DEEPEN AND BROADEN OUR COURSE OFFERINGS IN MATH AND SCIENCE, AND WE FORGED PARTNERSHIPS TO HELP US CREATE MORE WORLD-CLASS CONTENT. KHAN ACADEMY'S GOAL IS TO BE THE WORLD'S BEST LEARNING RESOURCE, PROVIDING FREE, RIGOROUS, AND ENGAGING STANDARDS-ALIGNED INSTRUCTIONAL AND PRACTICE CONTENT TO TEACHERS AND LEARNERS IN THE K-12 CLASSROOM ESPECIALLY, BUT ALSO TO ANY INDEPENDENT LEARNER, ANYWHERE IN THE WORLD.

    Expenses $8,535,632 · Revenue $120,000

  • AWARENESS AND ADOPTION: WE WILL CONTINUE DEVELOPING PARTNERSHIPS WITH INSTITUTIONS ACROSS THE WORLD TO INCREASE AWARENESS ABOUT KHAN ACADEMY AND INCREASE OUR IMPACT. EXAMPLE PARTNERSHIPS INCLUDE SCHOOL DISTRICTS IN THE UNITED STATES AND OTHER MARKETS, INCLUDING INDIA, BRAZIL AND PERU; TESTMAKERS AND CREDENTIALING BODIES LIKE THE LAW SCHOOL ADMISSION COUNCIL, THE ASSOCIATION OF MEDICAL COLLEGES AND EDUCATIONAL TESTING SERVICE; CORPORATIONS LIKE GOOGLE; AND FOUNDATIONS LIKE THE BILL AND MELINDA GATES FOUNDATION AND THE LEMANN FOUNDATION. BY THE END OF 2023, WE HAD MORE THAN 162 MILLION REGISTERED STUDENTS, TEACHERS AND PARENTS.

    Expenses $9,423,773 · Revenue $60,000

As filed on the 2023 return.

Listed in Part VII

  • Ann Doerr

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    10

  • Curtis Feeney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Siegel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Larry Cohen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Laura Overdeck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Patricia Levesque

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sean O'Sullivan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ted Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sanjiv Yajnik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carlos Rodriguez-Pastor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Reed Hastings

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Salman Khan

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $912,685
    From this org
    $882,700
    From related orgs
    $0
    Other
    $29,985
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $870,174
    Bonus
    $12,526
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $29,985
    Filer's total
    $912,685

  • Julian Roberts

    CHIEF FINANCIAL OFFICER

    Total calculated
    $455,110
    From this org
    $411,925
    From related orgs
    $0
    Other
    $43,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $411,863
    Bonus
    $0
    Other
    $62
    Deferred
    $13,200
    Nontaxable benefits
    $29,985
    Filer's total
    $455,110

  • Julia Cowles

    VP GENERAL COUNSEL AND SECRETARY

    Total calculated
    $384,462
    From this org
    $346,565
    From related orgs
    $0
    Other
    $37,897
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $343,092
    Bonus
    $3,473
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $24,697
    Filer's total
    $384,462

  • Vicki Zubovic

    CHIEF EXTERNAL RELATIONS OFFICER

    Total calculated
    $465,922
    From this org
    $443,049
    From related orgs
    $0
    Other
    $22,873
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $438,750
    Bonus
    $4,203
    Other
    $96
    Deferred
    $13,200
    Nontaxable benefits
    $9,673
    Filer's total
    $465,922

  • Paul Morgan

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $389,174
    From this org
    $358,563
    From related orgs
    $0
    Other
    $30,611
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $355,882
    Bonus
    $2,681
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $17,411
    Filer's total
    $389,174

  • Regina Ross

    CHIEF PEOPLE OFFICER

    Total calculated
    $376,927
    From this org
    $349,683
    From related orgs
    $0
    Other
    $27,244
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $346,210
    Bonus
    $3,473
    Other
    $0
    Deferred
    $3,545
    Nontaxable benefits
    $23,699
    Filer's total
    $376,927

  • Kristen Dicerbo

    CHIEF LEARNING OFFICER

    Total calculated
    $376,014
    From this org
    $353,141
    From related orgs
    $0
    Other
    $22,873
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $350,002
    Bonus
    $3,139
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $9,673
    Filer's total
    $376,014

  • Caroline Flexer

    VP PRODUCT, KHAN KIDS

    Total calculated
    $377,022
    From this org
    $346,411
    From related orgs
    $0
    Other
    $30,611
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $342,971
    Bonus
    $3,440
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $17,411
    Filer's total
    $377,022

  • Michael Flexer

    CHIEF ARCHITECT, KHAN KIDS

    Total calculated
    $366,376
    From this org
    $343,503
    From related orgs
    $0
    Other
    $22,873
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $340,879
    Bonus
    $2,624
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $9,673
    Filer's total
    $366,376

  • Sandeep Bapna

    VP INTERNATIONAL OPERATIONS

    Total calculated
    $374,651
    From this org
    $332,528
    From related orgs
    $0
    Other
    $42,123
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,795
    Bonus
    $3,355
    Other
    $28,378
    Deferred
    $12,284
    Nontaxable benefits
    $29,839
    Filer's total
    $374,651

  • John Resig

    DIRECTOR ENGINEERING

    Total calculated
    $346,249
    From this org
    $312,777
    From related orgs
    $0
    Other
    $33,472
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,500
    Bonus
    $2,309
    Other
    $7,968
    Deferred
    $12,192
    Nontaxable benefits
    $21,280
    Filer's total
    $346,249

  • Diana Olin

    ASSOCIATE GENERAL COUNSEL

    Total calculated
    $326,935
    From this org
    $304,956
    From related orgs
    $0
    Other
    $21,979
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $303,544
    Bonus
    $1,412
    Other
    $0
    Deferred
    $12,306
    Nontaxable benefits
    $9,673
    Filer's total
    $326,935

  • Sujata Salem

    DIRECTOR ENGINEERING

    Total calculated
    $313,306
    From this org
    $289,518
    From related orgs
    $0
    Other
    $23,788
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,304
    Bonus
    $2,214
    Other
    $0
    Deferred
    $11,689
    Nontaxable benefits
    $12,099
    Filer's total
    $313,306

  • Jason Chancey

    DIRECTOR ENGINEERING

    Total calculated
    $319,809
    From this org
    $278,488
    From related orgs
    $0
    Other
    $41,321
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,341
    Bonus
    $2,147
    Other
    $0
    Deferred
    $11,336
    Nontaxable benefits
    $29,985
    Filer's total
    $319,809

  • Theodore Chen

    DIRECTOR ENGINEERING

    Total calculated
    $300,985
    From this org
    $267,406
    From related orgs
    $0
    Other
    $33,579
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,406
    Bonus
    $0
    Other
    $0
    Deferred
    $11,110
    Nontaxable benefits
    $22,469
    Filer's total
    $300,985

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • KHAN ACADEMY INDIA

    501(C)(3) · EDUCATION · IN · controlled entity

    Directly controlled by KHAN ACADEMY INC

  • KHAN ACADEMY BRASIL

    501(C)(3) · EDUCATION · BR · controlled entity

    Directly controlled by KHAN ACADEMY INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • DUCK DUCK MOOSE LLC

    ON-LINE EARLY LEARNING · CA · income $0 · assets $0

    Directly controlled by KHAN ACADEMY INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349306766

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