Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,666,163

• 1f · All other contributions, gifts and grants

  $2,028,105

• 2a · Program service revenue: CANDIDATE FEES

  total $18,718,550 · related or exempt $18,718,550

• 2b · Program service revenue: RECRUITMENT CAMPAIGN

  total $800,000 · related or exempt $800,000

• 2c · Program service revenue: ATLAS/VOP FEES

  total $589,267 · related or exempt $589,267

• 3 · Investment income

  total $65,735 · excluded $65,735

• 5 · Royalties

  total $28,770 · excluded $28,770

• 11a · Other revenue: CREDIT CARD REBATE

  total $5,542 · excluded $5,542

• 11e · Other revenue, total

  $5,542

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $20,900 · program services $20,900

• 5 · Compensation of officers, directors and key employees

  total $739,840 · program services $599,793 · management and general $80,362 · fundraising $59,685

• 7 · Other salaries and wages

  total $4,554,679 · program services $2,233,850 · management and general $1,455,960 · fundraising $864,869

• 8 · Pension plan contributions

  total $23,272 · program services $12,111 · management and general $7,024 · fundraising $4,137

• 9 · Other employee benefits

  total $991,449 · program services $473,986 · management and general $337,068 · fundraising $180,395

• 10 · Payroll taxes

  total $409,579 · program services $227,147 · management and general $115,872 · fundraising $66,560

• 11b · Fees: legal

  total $20,390 · program services $11,358 · management and general $5,717 · fundraising $3,315

• 11c · Fees: accounting

  total $115,881 · program services $53,255 · management and general $44,974 · fundraising $17,652

• 11d · Fees: lobbying

  total $135,942 · program services $135,942

• 11g · Fees: other

  total $2,345,436 · program services $1,759,424 · management and general $364,620 · fundraising $221,392

• 12 · Advertising and promotion

  total $169,937 · program services $167,576 · management and general $1,486 · fundraising $875

• 13 · Office expenses

  total $275,389 · program services $89,342 · management and general $44,850 · fundraising $141,197

• 14 · Information technology

  total $675,492 · program services $400,633 · management and general $24,956 · fundraising $249,903

• 16 · Occupancy

  total $161,228 · program services $85,503 · management and general $47,659 · fundraising $28,066

• 17 · Travel

  total $165,553 · program services $136,854 · management and general $23,393 · fundraising $5,306

• 19 · Conferences, conventions and meetings

  total $85,989 · program services $32,155 · management and general $49,297 · fundraising $4,537

• 20 · Interest

  total $3,747 · program services $1,978 · management and general $1,113 · fundraising $656

• 22 · Depreciation, depletion and amortization

  total $103,601 · program services $53,157 · management and general $29,917 · fundraising $20,527

• 23 · Insurance

  total $69,299 · program services $36,583 · management and general $20,590 · fundraising $12,126

• 24a · Other expenses: PEARSON FEE SHARE

  total $13,221,621 · program services $13,221,621

• 24b · Other expenses: HOSTING SERVICES

  total $116,584 · program services $6,846 · fundraising $109,738

• 24c · Other expenses: LICENSES PERMITS & FEES

  total $31,098 · program services $16,354 · management and general $9,371 · fundraising $5,373

• 24d · Other expenses: AWARDS/GIFTS/INCENTIVES

  total $14,096 · program services $6,499 · management and general $7,064 · fundraising $533

• 24e · All other expenses

  total $28,326 · program services $3,205 · management and general $1,536 · fundraising $23,585

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $602,000 · end of year $398,522

• 2 · Savings and temporary cash investments

  beginning of year $5,680,000 · end of year $4,173,514

• 3 · Pledges and grants receivable

  beginning of year $5,508,000 · end of year $1,043,759

• 4 · Accounts receivable

  beginning of year $701,000 · end of year $4,762,946

• 9 · Prepaid expenses and deferred charges

  beginning of year $260,000 · end of year $236,853

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

  $2,285,821

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

  $1,655,476

• 10c · Land, buildings and equipment, net

  beginning of year $564,000 · end of year $630,345

• 15 · Other assets

  beginning of year $0 · end of year $3,049,106

• 17 · Accounts payable and accrued expenses

  beginning of year $685,000 · end of year $984,597

• 19 · Deferred revenue

  beginning of year $15,406,000 · end of year $10,050,367

• 23 · Secured mortgages and notes payable

  beginning of year $146,000 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $550,000 · end of year $142,897

• 25 · Other liabilities

  beginning of year $844,000 · end of year $3,200,479

• 27 · Net assets without donor restrictions

  beginning of year -$5,784,000 · end of year -$1,477,567

• 28 · Net assets with donor restrictions

  beginning of year $1,468,000 · end of year $1,394,272

The filer's explanations (Part III)

PART I, LINE 1A

THE CEO'S EMPLOYMENT AGREEMENT EFFECTIVE 11/6/2017 INCLUDES A PROVISION FOR REIMBURSEMENT OF RENT EXPENSES. THE REIMBURSEMENT IS TAXABLE.

PART I, LINE 7

OFFICERS AND HIGHEST COMPENSATED EMPLOYEES RECEIVED BONUSES. THE BONUS AWARD PROCESS IS A COMPONENT OF THE EMPLOYMENT AGREEMENT OFFER. THE BONUS AWARD EVALUATION IS AN ANNUAL PROCESS THAT INCLUDES A MIDDLE OF THE YEAR PERFORMANCE EVALUATION, END OF THE YEAR PERFORMANCE EVALUATION, AND REAL-TIME FEEDBACK LOOPS THROUGHOUT THE YEAR BETWEEN THE EMPLOYEE AND MANAGER. THE AMOUNT OF THE BONUS IS DETERMINED BY THE ORGANIZATION'S PERFORMANCE (AVAILABLE BONUS FUNDS) AND THE EMPLOYEE'S ANNUAL PERFORMANCE.