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Nonprofiteer
← EDUCATION TRUST INC

Form 990 for tax year 2022

Filed by EDUCATION TRUST INC.

Totals

Total revenue
$33,115,919
Total expenses
$30,882,342
Contributions and grants received
$32,036,448
Grants paid
$2,816,619
Program service revenue
$1,557,847
Investment income
-$681,813
Other revenue
$203,437
Total assets, end of year
$74,997,496
Total liabilities, end of year
$17,491,852
Net assets or fund balances, end of year
$57,505,644
Program services expenses (Part IX)
$28,564,007
Management and general expenses
$894,522
Fundraising expenses
$1,423,813
Program service expenses (Part III)
$28,564,007

Program services were 92.5% 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

    $32,036,448

  • 2a · Program service revenue: CONTRACTS

    total $1,490,922 · related or exempt $1,490,922

  • 2b · Program service revenue: MEETING REGISTRATIONS

    total $66,925 · related or exempt $66,925

  • 3 · Investment income

    total $798,665 · excluded $798,665

  • 6a · Gross rents

    real property $1,900

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,900

  • 6d · Net rental income or loss

    total $1,900 · excluded $1,900

  • 7a · Gross sales of assets other than inventory

    securities $25,961,090

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

    securities $27,441,568

  • 7c · Gain or loss

    securities -$1,480,478

  • 7d · Net gain or loss

    total -$1,480,478 · excluded -$1,480,478

  • 11a · Other revenue: OTHER INCOME

    total $123,171 · excluded $123,171

  • 11b · Other revenue: HONORARIUM

    total $67,133 · related or exempt $67,133

  • 11c · Other revenue: REIMBURSED EXPENSE INCOME

    total $11,233 · excluded $11,233

  • 11e · Other revenue, total

    $201,537

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,816,619 · program services $2,816,619

  • 5 · Compensation of officers, directors and key employees

    total $2,923,617 · program services $2,762,956 · management and general $97,577 · fundraising $63,084

  • 7 · Other salaries and wages

    total $12,227,393 · program services $11,555,463 · management and general $408,095 · fundraising $263,835

  • 9 · Other employee benefits

    total $2,102,179 · program services $1,986,658 · management and general $70,161 · fundraising $45,360

  • 10 · Payroll taxes

    total $1,092,482 · program services $1,032,447 · management and general $36,462 · fundraising $23,573

  • 11b · Fees: legal

    total $30,654 · program services $25,078 · management and general $1,439 · fundraising $4,137

  • 11c · Fees: accounting

    total $56,460 · program services $46,189 · management and general $2,651 · fundraising $7,620

  • 11f · Fees: investment management

    total $122,206 · management and general $122,206

  • 11g · Fees: other

    total $4,700,695 · program services $4,207,749 · management and general $67,974 · fundraising $424,972

  • 12 · Advertising and promotion

    total $11,573 · program services $9,468 · management and general $543 · fundraising $1,562

  • 13 · Office expenses

    total $192,293 · program services $179,609 · management and general $5,167 · fundraising $7,517

  • 14 · Information technology

    total $191,151 · program services $156,767 · management and general $8,909 · fundraising $25,475

  • 16 · Occupancy

    total $1,522,433 · program services $1,356,923 · management and general $32,105 · fundraising $133,405

  • 17 · Travel

    total $1,217,987 · program services $1,037,572 · management and general $7,280 · fundraising $173,135

  • 19 · Conferences, conventions and meetings

    total $929,422 · program services $791,751 · management and general $5,555 · fundraising $132,116

  • 22 · Depreciation, depletion and amortization

    total $295,946 · program services $231,251 · management and general $7,304 · fundraising $57,391

  • 23 · Insurance

    total $81,671 · program services $66,813 · management and general $3,835 · fundraising $11,023

  • 24a · Other expenses: STAFF DEVELOPMENT

    total $157,395 · program services $128,761 · management and general $7,391 · fundraising $21,243

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $121,330 · program services $99,258 · management and general $5,697 · fundraising $16,375

  • 24c · Other expenses: HR ADMIN FEES

    total $79,249 · program services $64,832 · management and general $3,721 · fundraising $10,696

  • 24d · Other expenses: TAXES

    total $9,587 · program services $7,843 · management and general $450 · fundraising $1,294

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $16,921,554 · end of year $10,642,324

  • 3 · Pledges and grants receivable

    beginning of year $11,811,145 · end of year $16,095,836

  • 4 · Accounts receivable

    beginning of year $157,402 · end of year $613,531

  • 9 · Prepaid expenses and deferred charges

    beginning of year $740,258 · end of year $676,606

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

    $5,037,590

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

    $2,721,719

  • 10c · Land, buildings and equipment, net

    beginning of year $2,494,034 · end of year $2,315,871

  • 11 · Investments: publicly traded securities

    beginning of year $27,972,032 · end of year $34,751,328

  • 15 · Other assets

    beginning of year $288,238 · end of year $9,902,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,605,348 · end of year $3,315,172

  • 19 · Deferred revenue

    beginning of year $300,740 · end of year $138,300

  • 25 · Other liabilities

    beginning of year $4,686,287 · end of year $14,038,380

  • 27 · Net assets without donor restrictions

    beginning of year $34,448,675 · end of year $31,792,267

  • 28 · Net assets with donor restrictions

    beginning of year $18,343,613 · end of year $25,713,377

Mission and programs · 2022

Mission

THE EDUCATION TRUST PROMOTES HIGH ACADEMIC ACHIEVEMENT FOR ALL STUDENTS AT ALL LEVELS PRE-KINDERGARTEN THROUGH COLLEGE. OUR GOAL IS TO CLOSE THE GAPS IN OPPORTUNITY AND ACHIEVEMENT THAT CONSIGN FAR TOO MANY YOUNG PEOPLE-ESPECIALLY THOSE FROM LOW-INCOME FAMILIES OR WHO ARE BLACK, LATINO, OR AMERICAN INDIAN-TO LIVES ON THE MARGINS OF THE AMERICAN MAINSTREAM.

Activities or mission (Part I)

TO PROMOTE HIGH ACADEMIC ACHIEVEMENT FOR ALL STUDENTS AT ALL LEVELS: PRE-K THROUGH COLLEGE.

  • OUR PROGRAM AND POLICY TEAMS CONDUCT RESEARCH AND ANALYZE EDUCATIONAL PRACTICES, PRE-K THROUGH COLLEGE. THEIR WORK AIMS TO DEEPEN OUR UNDERSTANDING OF THE FACTORS THAT CONTRIBUTE TO ACHIEVEMENT GAPS, LEARN FROM AND EXTEND THE BEST WORK IN THE FIELD, AND DEVELOP POSITIONS AND SUPPORTING EVIDENCE TO ADVANCE THE ORGANIZATION'S STRATEGIC AGENDA. MORE SPECIFICALLY, THE WORK FOCUSES ON ADVANCING THE QUALITY OF TEACHING, ENSURING ACCOUNTABILITY AND SUPPORT FOR SCHOOLS AND COLLEGES, MONITORING ACHIEVEMENT PATTERNS IN PREK-12 AND HIGHER EDUCATION, AND FOSTERING BEST PRACTICES TO HELP SCHOOLS ALIGN THEIR CURRICULA WITH STATE STANDARDS.

    Expenses $6,644,797 · Grants $323,334 · Revenue $186,540

  • THE DIVISION OF GOVERNMENT AFFAIRS AND COMMUNICATIONS ARTICULATES AND ADVOCATES FOR THE ORGANIZATION'S STRATEGIC PRIORITIES. IT PUBLISHES RESEARCH AND ANALYSES IN PRINT AND ONLINE AND PARTNERS WITH EDUCATORS, ADVOCATES, AND ALLIED POLICYMAKERS AT THE LOCAL, STATE, AND NATIONAL LEVELS TO ADVANCE SPECIFIC EDUCATION POLICY OBJECTIVES.

    Expenses $8,482,012 · Grants $460,500 · Revenue $265,674

  • THE EDUCATION TRUST HAS FOUR STATE OFFICES, THE EDUCATION TRUST-WEST, THE EDUCATION TRUST-MIDWEST, THE EDUCATION TRUST-TENNESSEE, AND THE EDUCATION TRUST-NEW YORK. THE STATE OFFICES WORK IN THEIR STATES FOR THE HIGH ACADEMIC ACHIEVEMENT OF ALL STUDENTS AT ALL LEVELS, KINDERGARTEN THROUGH COLLEGE, AND AIM TO CLOSE THE ACHEIVEMENT GAPS SEPARATING LOW-INCOME STUDENTS AND STUDENTS OF COLOR FROM OTHER YOUTH THROUGH STATE-WIDE EDUCATION POLICY AND ADVOCACY WORK.

    Expenses $13,437,198 · Grants $2,032,785 · Revenue $1,172,766

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Denise Forte

    PRESIDENT & CEO

    Total calculated
    $402,642
    From this org
    $380,619
    From related orgs
    $0
    Other
    $22,023
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $360,619
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,023
    Filer's total
    $402,642

  • John B King Until 22023

    PRESIDENT

    Total calculated
    $192,741
    From this org
    $173,953
    From related orgs
    $0
    Other
    $18,788
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $173,953
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,788
    Filer's total
    $192,741

  • Jose Luis Cruz

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • James Forman Jr Until 22023

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Yolie Flores

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jesse Jackson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lisa Gelobter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Groff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Monique Idlett-Mosley Until 22023

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisette Nieves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eduardo J Padron

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel R Porterfield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wilfredo Del Pilar

    SENIOR VICE PRESIDENT

    Total calculated
    $325,951
    From this org
    $293,855
    From related orgs
    $0
    Other
    $32,096
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $290,655
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,096
    Filer's total
    $325,951

  • Dia Bryant

    EXECUTIVE DIRECTOR, ETNY

    Total calculated
    $256,259
    From this org
    $224,898
    From related orgs
    $0
    Other
    $31,361
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $221,698
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $31,361
    Filer's total
    $256,259

  • Christopher Nellum

    EXECUTIVE DIRECTOR, ETW

    Total calculated
    $246,591
    From this org
    $219,545
    From related orgs
    $0
    Other
    $27,046
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $216,345
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $27,046
    Filer's total
    $246,591

  • Amber Arellano

    EXECUTIVE DIRECTOR, ETMW

    Total calculated
    $228,385
    From this org
    $213,042
    From related orgs
    $0
    Other
    $15,343
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $209,842
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,343
    Filer's total
    $228,385

  • Robin Harris

    VP, STRATEGIC COMMUNICATIONS

    Total calculated
    $234,587
    From this org
    $208,489
    From related orgs
    $0
    Other
    $26,098
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $205,289
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $26,098
    Filer's total
    $234,587

  • Claudia Lujan

    CHIEF OF STAFF

    Total calculated
    $221,655
    From this org
    $199,208
    From related orgs
    $0
    Other
    $22,447
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $196,008
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,447
    Filer's total
    $221,655

  • Rachel Stalcup

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $209,824
    From this org
    $194,085
    From related orgs
    $0
    Other
    $15,739
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $190,885
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,739
    Filer's total
    $209,824

  • Maria Darie

    CHIEF FINANCIAL OFFICER

    Total calculated
    $204,803
    From this org
    $180,790
    From related orgs
    $0
    Other
    $24,013
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $177,590
    Bonus
    $3,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,013
    Filer's total
    $204,803

  • Allison Socol

    VP, P12 POLICY, RESEARCH & PRACTICE

    Total calculated
    $198,033
    From this org
    $166,126
    From related orgs
    $0
    Other
    $31,907
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $166,126
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $31,907
    Filer's total
    $198,033

  • Lynn Jennings

    SENIOR DIRECTOR

    Total calculated
    $215,657
    From this org
    $182,555
    From related orgs
    $0
    Other
    $33,102
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $179,055
    Bonus
    $3,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $33,102
    Filer's total
    $215,657

  • Natasha Ushomirsky

    STATE DIRECTOR FOR MASSACHUSETTS

    Total calculated
    $204,762
    From this org
    $176,007
    From related orgs
    $0
    Other
    $28,755
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $172,507
    Bonus
    $3,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $28,755
    Filer's total
    $204,762

  • Brian Rivas

    SENIOR DIRECTOR, POLICY & GOV. REL.

    Total calculated
    $193,947
    From this org
    $172,960
    From related orgs
    $0
    Other
    $20,987
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $169,460
    Bonus
    $3,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,987
    Filer's total
    $193,947

  • Carol Hedgspeth

    DEPUTY DIRECTOR

    Total calculated
    $202,822
    From this org
    $170,463
    From related orgs
    $0
    Other
    $32,359
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $166,963
    Bonus
    $3,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,359
    Filer's total
    $202,822

  • Nicolle Grayson

    SENIOR DIRECTOR, COMMUNICATIONS

    Total calculated
    $179,966
    From this org
    $159,807
    From related orgs
    $0
    Other
    $20,159
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $159,807
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,159
    Filer's total
    $179,966

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE ORGANIZATION PROVIDED BONUS COMPENSATION TO ITS EMPLOYEES DURING THE YEAR.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
2022
Filed
4 March 2024
IRS schema version
2022v5.0
Source object
202410659349300011

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.