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Nonprofiteer
← CALIFORNIA EDUCATION ASSISTANCE INC

Form 990 for tax year 2023

Filed by CALIFORNIA EDUCATION ASSISTANCE INC.

Totals

Total revenue
$1,420,060
Total expenses
$3,318,910
Contributions and grants received
$0
Grants paid
$281,070
Program service revenue
$0
Investment income
$1,420,060
Other revenue
$0
Total assets, end of year
$34,153,565
Total liabilities, end of year
$97,829
Net assets or fund balances, end of year
$34,055,736
Program services expenses (Part IX)
$1,418,521
Management and general expenses
$1,900,389
Fundraising expenses
$0
Program service expenses (Part III)
$1,418,521

Program services were 42.7% 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.

  • 3 · Investment income

    total $1,371,210 · related or exempt $0 · unrelated business $0 · excluded $1,371,210

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $952,673 · other assets $0

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

    securities $903,823 · other assets $0

  • 7c · Gain or loss

    securities $48,850 · other assets $0

  • 7d · Net gain or loss

    total $48,850 · related or exempt $0 · unrelated business $0 · excluded $48,850

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $281,070 · program services $281,070

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $493,554 · program services $394,843 · management and general $98,711 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $66,261 · program services $59,635 · management and general $6,626 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $45,741 · program services $41,167 · management and general $4,574 · fundraising $0

  • 10 · Payroll taxes

    total $23,501 · program services $21,151 · management and general $2,350 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $57,271 · program services $0 · management and general $57,271 · fundraising $0

  • 11c · Fees: accounting

    total $41,281 · program services $0 · management and general $41,281 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $42,420 · program services $0 · management and general $42,420 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $17,263 · program services $15,537 · management and general $1,726 · fundraising $0

  • 14 · Information technology

    total $153,820 · program services $138,438 · management and general $15,382 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $52,435 · program services $47,191 · management and general $5,244 · fundraising $0

  • 17 · Travel

    total $29,269 · program services $26,342 · management and general $2,927 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $1,937,652 · program services $387,530 · management and general $1,550,122 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $2,084 · program services $1,876 · management and general $208 · fundraising $0

  • 23 · Insurance

    total $54,815 · program services $0 · management and general $54,815 · fundraising $0

  • 24a · Other expenses: Taxes

    total $14,473 · program services $0 · management and general $14,473 · fundraising $0

  • 24b · Other expenses: Association Dues

    total $1,325 · program services $1,192 · management and general $133 · fundraising $0

  • 24c · Other expenses: Grant Review Expenses

    total $1,329 · program services $1,329 · management and general $0 · fundraising $0

  • 24d · Other expenses: Payroll Services

    total $1,356 · program services $1,220 · management and general $136 · fundraising $0

  • 24e · All other expenses

    total $1,990 · program services $0 · management and general $1,990 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $284,696 · end of year $101,551

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $106,541 · end of year $197,241

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

    $245,090

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

    $241,490

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $3,600

  • 11 · Investments: publicly traded securities

    beginning of year $25,000,000 · end of year $33,846,396

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $155,972 · end of year $4,777

  • 17 · Accounts payable and accrued expenses

    beginning of year $67,707 · end of year $34,829

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $7,949,828 · end of year $63,000

  • 27 · Net assets without donor restrictions

    beginning of year $17,529,674 · end of year $34,055,736

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

California Education Assistance's mission is to help improve public education in California by removing barriers to learning and fostering creative, innovative solutions that empower students and educators. We are committed to ensuring equitable access to resources, opportunities, and support systems that enable every learner to reach their full potential. Through collaboration, advocacy, and forward-thinking initiatives, we strive to create a future where education is inclusive, dynamic, and transformative for all.

Activities or mission (Part I)

Provide grants to tax exempt organizations that provide education-related outreach services, counseling of students, and student resources to assist individuals in pursuing an education.

  • Distribute resources to non-profit organizations that provide critical services to California students in support of opportunities for an equitable education, including completion of post-secondary education and achievement of career goals

    Expenses $1,418,521 · Grants $281,070

As filed on the 2023 return.

Listed in Part VII

  • William R Hansen

    Chief Administrative Officer

    Total calculated
    $861,241
    From this org
    $29,597
    From related orgs
    $555,182
    Other
    $276,462
    Hours/week
    25 + 40 related

    Schedule J breakdown matched by us

    Base
    $29,146 + $318,515 related
    Bonus
    $0 + $204,000 related
    Other
    $451 + $32,667 related
    Deferred
    $0 + $226,500 related
    Nontaxable benefits
    $8,047 + $41,915 related
    Filer's total
    $37,644 + $823,597 related

  • William Markenson

    CEO, Board Chairman

    Total calculated
    $433,112
    From this org
    $64,111
    From related orgs
    $293,729
    Other
    $75,272
    Hours/week
    20 + 25 related

    Schedule J breakdown matched by us

    Base
    $64,111 + $262,441 related
    Bonus
    $0
    Other
    $0 + $31,288 related
    Deferred
    $0 + $43,173 related
    Nontaxable benefits
    $4,796 + $27,303 related
    Filer's total
    $68,907 + $364,205 related

  • Sheryl Levy

    Program Director

    Total calculated
    $274,665
    From this org
    $12,635
    From related orgs
    $148,937
    Other
    $113,093
    Hours/week
    20 + 30 related

    Schedule J breakdown matched by us

    Base
    $12,503 + $132,798 related
    Bonus
    $0
    Other
    $132 + $16,139 related
    Deferred
    $0 + $90,488 related
    Nontaxable benefits
    $3,417 + $19,188 related
    Filer's total
    $16,052 + $258,613 related

  • Janet Murillo

    Director/Secretary

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Fromer

    Director

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Laura Johnson

    Director

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donald Sternberg

    Director

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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

  • 3 · Independent compensation consultant
  • 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

  • Strada Collaborative Inc dba Inside Track

    $156,070

    Funding for InsideTrack Student Success Coaching that is designed to improve student engagement, persistence, and satisfaction while generating valuable insights to inform institutional decision-making. Through digital guidance, outreach, and one-on-one meetings, coaches ensure that students engage with available resources and develop a plan to efficiently and effectively complete their degree program.

  • Bay Area Girls Club

    $50,000

    Provide grant to Bay Area Girls Club for its College and Career Exploration, Essential Life Skills, Exposure to College Campus Life Workshops. In partnership with RPAL's Richmond Young Scholars (RYS) program, a nonprofit organization that provides support for youth as they transition into adulthood, Bay Area Girls Club will take College Bound Girls along with other youth with RYS on a trip to explore HBCUs (Historically Black Colleges and Universities in Louisiana, Atlanta, and Alabama.

  • Jovenes Inc

    $50,000

    Grant establishes CalEdAssist Scholarship Fund to support students in the Jovenes College Success Initiative, which seeks to assist homeless college students achieve their goals by providing housing and supportive services. By filling in the gaps of current public funding sources, this scholarship fund will assist students with academic needs such as class hold fees and necessary supplies.

  • Goal Beyond Inc

    $25,000

    The grant is to support borrower engagement as part of the Goal Beyond Debt Forgiveness Initiative. This will include issuing letters to over 6,000 borrowers, cross-referencing and validating their personal details in the Goal Beyond database, managing their on-boarding to the AscentUp training program, and supporting them with credit repair resources to improve their economic mobility.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202501289349303310

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