Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 3 · Investment income

  total $422,604 · excluded $422,604

• 7a · Gross sales of assets other than inventory

  other assets $50,000,000

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

  other assets $7,584,033

• 7c · Gain or loss

  other assets $42,415,967

• 7d · Net gain or loss

  total $42,415,967 · excluded $42,415,967

• 10a · Gross sales of inventory

  $6,585,500

• 10b · Cost of goods sold

  $6,585,500

• 10c · Net income from sales of inventory

  total $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,125,000 · program services $2,125,000

• 5 · Compensation of officers, directors and key employees

  total $64,000 · program services $64,000

• 7 · Other salaries and wages

  total $328,387 · program services $328,387

• 8 · Pension plan contributions

  total $7,010 · program services $7,010

• 9 · Other employee benefits

  total $3,504 · program services $3,504

• 10 · Payroll taxes

  total $15,889 · program services $14,159 · management and general $1,730

• 11b · Fees: legal

  total $63,477 · management and general $63,477

• 11c · Fees: accounting

  total $15,960 · management and general $15,960

• 11f · Fees: investment management

  total $361,149 · management and general $361,149

• 11g · Fees: other

  total $191,861 · program services $114,924 · management and general $76,937

• 12 · Advertising and promotion

  total $51,293 · program services $51,293

• 13 · Office expenses

  total $88,967 · program services $994 · management and general $87,973

• 14 · Information technology

  total $115,745 · program services $89,057 · management and general $26,688

• 16 · Occupancy

  total $28,181 · management and general $28,181

• 17 · Travel

  total $129,695 · program services $129,695

• 19 · Conferences, conventions and meetings

  total $8,289 · program services $7,949 · management and general $340

• 24a · Other expenses: SHARED SERVICES

  total $406,634 · management and general $406,634

• 24b · Other expenses: OTHER EXPENSES

  total $17,931 · program services $17,931

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,071,340 · end of year $2,580,306

• 2 · Savings and temporary cash investments

  beginning of year $102,340 · end of year $46,019,347

• 9 · Prepaid expenses and deferred charges

  beginning of year $17,500

• 12 · Investments: other securities

  beginning of year $29,109,755 · end of year $96,605,935

• 15 · Other assets

  beginning of year $6,211 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $244,800 · end of year $106,898

• 18 · Grants payable

  end of year $550,000

• 25 · Other liabilities

  beginning of year $412,225 · end of year $405,003

• 27 · Net assets without donor restrictions

  beginning of year $36,650,121 · end of year $144,143,687

The filer's explanations (Part III)

PART I, LINE 3

THE FORMER EXECUTIVE DIRECTOR IS NOT COMPENSATED BY THE ORGANIZATION FOR HER SERVICES. THE FORMER EXECUTIVE DIRECTOR IS COMPENSATED BY GREAT MINDS PBC, THE ORGANIZATION'S SEVENTY-FIVE PERCENT OWNED SUBSIDIARY, FOR HER SERVICE AS ITS CHIEF EXECUTIVE OFFICER.

Related corporations and trusts

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

• GREAT MINDS PUBLIC BENEFIT CORPORATION

  C · EDUCATION SERVICES · DC · 75% owned · share of income $692,201 · share of assets $269,006,232 · controlled entity

  Directly controlled by GREAT MINDS