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← SQUARED NETWORK

Form 990 for tax year 2024

Filed by SQUARED NETWORK.

Totals

Total revenue
$2,466,279
Total expenses
$872,152
Contributions and grants received
$2,456,071
Grants paid
$0
Program service revenue
$0
Investment income
$10,208
Other revenue
$0
Total assets, end of year
$2,061,104
Total liabilities, end of year
$11,815
Net assets or fund balances, end of year
$2,049,289
Program services expenses (Part IX)
$720,310
Management and general expenses
$62,890
Fundraising expenses
$88,952
Program service expenses (Part III)
$720,310

Program services were 82.6% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $2,456,071

  • 1g · Noncash contributions included above

    $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $10,208 · related or exempt $0 · unrelated business $0 · excluded $10,208

  • 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

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $183,626 · program services $154,245 · management and general $11,018 · fundraising $18,363

  • 7 · Other salaries and wages

    total $269,897 · program services $218,054 · management and general $12,945 · fundraising $38,898

  • 8 · Pension plan contributions

    total $9,799 · program services $7,825 · management and general $707 · fundraising $1,267

  • 9 · Other employee benefits

    total $29,597 · program services $21,472 · management and general $1,055 · fundraising $7,070

  • 10 · Payroll taxes

    total $38,392 · program services $32,076 · management and general $1,817 · fundraising $4,499

  • 11c · Fees: accounting

    total $23,129 · management and general $23,129

  • 11g · Fees: other

    total $207,374 · program services $187,179 · management and general $3,195 · fundraising $17,000

  • 12 · Advertising and promotion

    total $1,828 · fundraising $1,828

  • 13 · Office expenses

    total $4,917 · program services $4,917

  • 14 · Information technology

    total $1,287 · program services $192 · management and general $1,095

  • 16 · Occupancy

    total $330 · program services $330

  • 17 · Travel

    total $56,802 · program services $56,775 · fundraising $27

  • 19 · Conferences, conventions and meetings

    total $1,807 · program services $1,807

  • 22 · Depreciation, depletion and amortization

    total $1,036 · management and general $1,036

  • 23 · Insurance

    total $3,578 · management and general $3,578

  • 24a · Other expenses: PROGRAM EXPENSES

    total $30,634 · program services $30,634 · management and general $0 · fundraising $0

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $5,438 · program services $2,123 · management and general $3,315 · fundraising $0

  • 24e · All other expenses

    total $2,681 · program services $2,681

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $310,434 · end of year $925,767

  • 2 · Savings and temporary cash investments

    end of year $1,010,208

  • 3 · Pledges and grants receivable

    beginning of year $150,000 · end of year $110,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,381 · end of year $11,330

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

    $5,180

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

    $1,381

  • 10c · Land, buildings and equipment, net

    beginning of year $4,834 · end of year $3,799

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,486 · end of year $11,815

  • 27 · Net assets without donor restrictions

    beginning of year $455,163 · end of year $2,049,289

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

WE AIM TO EXPAND THE IMPACT OF THE SQUARED EXPERIENCE BY FORGING NEW PARTNERSHIPS BETWEEN INCREDIBLE STUDENTS, HOST CAMPUSES, AND FINANCIAL SUPPORTERS.

  • KENT SQUARED IS THE ORGANIZATION'S FLAGSHIP RESIDENTIAL SITE, OPERATED ON THE CAMPUS OF KENT SCHOOL IN KENT, CONNECTICUT. IT PROVIDES MULTI-SUMMER, TUITION-FREE ACADEMIC ENRICHMENT TO FIRST-GENERATION, LOW-INCOME HIGH SCHOOL STUDENTS, PAIRING RIGOROUS STEM INSTRUCTION WITH COLLEGE-ACCESS ADVISING, RESIDENTIAL LIFE, AND ENRICHMENT PROGRAMMING. DURING THE SUMMER 2025 SESSION THE PROGRAM SERVED 57 STUDENTS ON A RESIDENTIAL BASIS. DIRECT-SERVICE COSTS INCLUDE INSTRUCTION, STUDENT STIPENDS AND TRAVEL, PROGRAM SUPPLIES, RESIDENTIAL OPERATIONS, AND CAMPUS SERVICES PROVIDED BY KENT SCHOOL.

    Expenses $397,555

  • GENERAL PROGRAMS - THE SQUARED NETWORK AIMS TO EXPAND A STEM AND COLLEGE ACCESS PROGRAM FOR FIRST-GENERATION AND LOW-INCOME STUDENTS. OUR "GENERAL PROGRAM" IS THE PART OF OUR COMPANY THAT FOCUSES ON EXPANSION, IDENTIFYING PARTNER SCHOOLS, RAISING FUNDS TO LAUNCH NEW PROGRAMS, AND STRATEGIZING OPERATIONS ACROSS OUR NETWORK OF PROGRAMS.

    Expenses $296,603

  • MIDDLESEX SQUARED IS THE ORGANIZATION'S SECOND RESIDENTIAL SITE, LAUNCHING IN SUMMER 2026 ON THE CAMPUS OF MIDDLESEX SCHOOL IN CONCORD, MASSACHUSETTS. DURING THE YEAR THE PROGRAM WAS IN PRE-LAUNCH DEVELOPMENT: BUILDING THE SITE TEAM, DESIGNING THE PROGRAM WITH THE HOST CAMPUS, AND COMPLETING THE OPERATIONAL, STAFFING, AND COMPLIANCE GROUNDWORK REQUIRED TO OPEN. FIRST-GENERATION, LOW-INCOME STUDENTS WILL BE SERVED BEGINNING IN THE INAUGURAL 2026 SESSION.

    Expenses $26,152

As filed on the 2024 return.

Listed in Part VII

  • Nicholas Favaloro

    CEO

    Total calculated
    $117,549
    From this org
    $117,549
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Garland Lasater

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Helen Obermeyer

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    6

  • John Okhiulu

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Bella Gribov

    TREASURER

    Total calculated
    $0
    Hours/week
    6

  • Ray Cross

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lorna Smith

    MEMBER

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
30 July 2026
IRS schema version
2024v5.0
Source object
202642389349300209

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