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Nonprofiteer
← GOODWIN COLLEGE MAGNET SCHOOLS INC

Form 990 for tax year 2024

Filed by GOODWIN COLLEGE MAGNET SCHOOLS INC.

Totals

Total revenue
$26,694,913
Total expenses
$22,356,240
Contributions and grants received
$17,653,390
Grants paid
$0
Program service revenue
$9,026,977
Investment income
$0
Other revenue
$14,546
Total assets, end of year
$10,149,500
Total liabilities, end of year
$40,975
Net assets or fund balances, end of year
$10,108,525
Program services expenses (Part IX)
$22,345,990
Management and general expenses
$10,250
Fundraising expenses
$0
Program service expenses (Part III)
$22,345,990

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • MARK SCHEINBERG

    PRESIDENT AND CEO

    Total calculated
    $977,428
    From this org
    $0
    From related orgs
    $952,365
    Other
    $25,063
    Hours/week
    1.9 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $714,335 related
    Bonus
    $0 + $237,500 related
    Other
    $0 + $530 related
    Deferred
    $0 + $8,625 related
    Nontaxable benefits
    $0 + $16,438 related
    Filer's total
    $0 + $977,428 related

  • JACKIE JACOBY

    CHAIR

    Total calculated
    $0
    Hours/week
    0.75 + 2.3 related

  • MEGAN MEHR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.2 + 2.3 related

  • TODD ANDREWS

    SECRETARY/SENIOR VP

    Total calculated
    $878,174
    From this org
    $0
    From related orgs
    $869,289
    Other
    $8,885
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $620,634 related
    Bonus
    $0 + $248,125 related
    Other
    $0 + $530 related
    Deferred
    $0 + $8,625 related
    Nontaxable benefits
    $0 + $260 related
    Filer's total
    $0 + $878,174 related

  • EDWIN MEYER JR

    TREASURER/VP FINANCE/CFO

    Total calculated
    $459,749
    From this org
    $0
    From related orgs
    $410,671
    Other
    $49,078
    Hours/week
    6 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $390,141 related
    Bonus
    $0 + $20,000 related
    Other
    $0 + $530 related
    Deferred
    $0 + $6,720 related
    Nontaxable benefits
    $0 + $42,358 related
    Filer's total
    $0 + $459,749 related

  • MERILEE DEJOHN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 2.3 related

  • LEE HOUSLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 2.6 related

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
DURING THE REPORTING YEAR, THE BOARD OF TRUSTEES AUTHORIZED ONE-TIME PAYMENTS TO CERTAIN SENIOR EXECUTIVES TO ADDRESS AN UNANTICIPATED TAX EVENT RESULTING FROM A PRIOR NONQUALIFIED DEFERRED COMPENSATION PLAN COMPLIANCE ISSUE. THE PLAN'S TAX STATUS CHANGED IN AN EARLIER YEAR, WHICH ACCELERATED INCOME RECOGNITION FOR PARTICIPANTS AND RESULTED IN SIGNIFICANT, IMMEDIATE TAX OBLIGATIONS. IN CONSIDERATION OF THE UNINTENDED FINANCIAL IMPACT ASSOCIATED WITH THIS COMPLIANCE MATTER, AND CONSISTENT WITH THE ORGANIZATION'S COMMITMENT TO FAIR AND EQUITABLE TREATMENT OF EMPLOYEES, THE BOARD APPROVED DISCRETIONARY PAYMENTS TO PARTIALLY OFFSET THE RESULTING TAX BURDEN. THESE ONE-TIME PAYMENTS WERE REVIEWED AND APPROVED IN ACCORDANCE WITH THE ORGANIZATION'S ESTABLISHED GOVERNANCE AND COMPENSATION OVERSIGHT PROCESSES.

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

No itemized grants to organizations on this return.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2026
IRS schema version
2024v5.5
Source object
202611349349312731

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