Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $70,600,527

• 1f · All other contributions, gifts and grants

  $4,292,362

• 1g · Noncash contributions included above

  $65,990

• 2a · Program service revenue: Program Fees

  total $134,665 · related or exempt $134,665

• 2b · Program service revenue: Training

  total $48,086 · related or exempt $48,086

• 3 · Investment income

  total $1,492 · excluded $1,492

• 6a · Gross rents

  real property $1,070,268

• 6b · Less rental expenses

  real property $433,913

• 6c · Rental income or loss

  real property $636,355

• 6d · Net rental income or loss

  total $636,355 · unrelated business $410,097 · excluded $226,258

• 11a · Other revenue: Miscellaneous

  total $91,629 · excluded $91,629

• 11e · Other revenue, total

  $91,629

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,635,948 · management and general $1,635,948

• 7 · Other salaries and wages

  total $41,872,985 · program services $36,599,805 · management and general $4,794,182 · fundraising $478,998

• 8 · Pension plan contributions

  total $156,474 · program services $122,055 · management and general $32,822 · fundraising $1,597

• 9 · Other employee benefits

  total $4,884,916 · program services $3,757,524 · management and general $1,078,215 · fundraising $49,177

• 10 · Payroll taxes

  total $4,034,765 · program services $3,403,782 · management and general $586,436 · fundraising $44,547

• 11a · Fees: management

  total $450,526 · program services $154 · management and general $424,566 · fundraising $25,806

• 11b · Fees: legal

  total $1,709,773 · program services $400,353 · management and general $1,307,142 · fundraising $2,278

• 11c · Fees: accounting

  total $121,995 · management and general $121,995

• 11g · Fees: other

  total $2,202,454 · program services $1,237,183 · management and general $955,032 · fundraising $10,239

• 13 · Office expenses

  total $654,690 · program services $536,175 · management and general $116,789 · fundraising $1,726

• 14 · Information technology

  total $1,446,966 · program services $1,047,587 · management and general $371,940 · fundraising $27,439

• 16 · Occupancy

  total $4,809,184 · program services $2,521,749 · management and general $2,287,435

• 17 · Travel

  total $541,346 · program services $379,672 · management and general $161,465 · fundraising $209

• 19 · Conferences, conventions and meetings

  total $159,630 · program services $111,956 · management and general $47,612 · fundraising $62

• 20 · Interest

  total $906,330 · management and general $906,330

• 22 · Depreciation, depletion and amortization

  total $644,045 · management and general $644,045

• 23 · Insurance

  total $741,044 · program services $740,311 · management and general $733

• 24a · Other expenses: Supportive housing

  total $987,754 · program services $987,578 · management and general $176

• 24b · Other expenses: Program expense

  total $900,161 · program services $864,812 · management and general $35,349

• 24c · Other expenses: Meals

  total $436,038 · program services $436,038

• 24d · Other expenses: Volunteer expenses

  total $378,195 · program services $378,195

• 24e · All other expenses

  total $1,358,983 · program services $980,122 · management and general $373,217 · fundraising $5,644

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,183,568 · end of year $5,187,947

• 2 · Savings and temporary cash investments

  beginning of year $179,962 · end of year $68,013

• 3 · Pledges and grants receivable

  beginning of year $125,000 · end of year $62,500

• 4 · Accounts receivable

  beginning of year $15,064,635 · end of year $12,984,631

• 9 · Prepaid expenses and deferred charges

  beginning of year $368,027 · end of year $362,353

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

  $29,980,082

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

  $4,566,579

• 10c · Land, buildings and equipment, net

  beginning of year $11,224,514 · end of year $25,413,503

• 15 · Other assets

  beginning of year $6,315,196 · end of year $4,650,092

• 17 · Accounts payable and accrued expenses

  beginning of year $6,434,402 · end of year $8,035,201

• 19 · Deferred revenue

  beginning of year $2,880,069 · end of year $4,073,462

• 23 · Secured mortgages and notes payable

  beginning of year $9,735,109 · end of year $15,443,523

• 25 · Other liabilities

  beginning of year $6,130,893 · end of year $4,668,348

• 27 · Net assets without donor restrictions

  beginning of year $7,994,986 · end of year $14,339,023

• 28 · Net assets with donor restrictions

  beginning of year $2,285,443 · end of year $2,169,482

The filer's explanations (Part III)

Part I, Line 7

Bonus is determined by the Board based on overall performance. Historically, this bonus has been targeted at approximately 10% of base salary. The reported bonus of $88,400 reflects this established approach and the Board's assessment of the employee's performance for the 2024 year and the 2023 year, paid out in 2024.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Circe Software Inc

  C · Software · CA · 100% owned · share of income $141,073 · share of assets $102,498

  Directly controlled by Felton Institute