Skip to content
Nonprofiteer
← GREATER EDUCATION OPPORTUNITIES FOUNDATION

Form 990 for tax year 2023

Filed by GREATER EDUCATION OPPORTUNITIES FOUNDATION.

Totals

Total revenue
$12,578,463
Total expenses
$11,332,967
Contributions and grants received
$5,346,734
Grants paid
$248,959
Program service revenue
$6,136,603
Investment income
$160,629
Other revenue
$934,497
Total assets, end of year
$21,656,768
Total liabilities, end of year
$7,721,315
Net assets or fund balances, end of year
$13,935,453
Program services expenses (Part IX)
$9,422,143
Management and general expenses
$1,844,681
Fundraising expenses
$66,143
Program service expenses (Part III)
$9,422,143

Program services were 83.1% 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.

  • 1e · Government grants (contributions)

    $3,046,734

  • 1f · All other contributions, gifts and grants

    $2,300,000

  • 2a · Program service revenue: Supporting Services

    total $6,136,603 · related or exempt $6,136,603

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $81,344 · excluded $81,344

  • 6a · Gross rents

    real property $934,497

  • 6c · Rental income or loss

    real property $934,497 · personal property $0

  • 6d · Net rental income or loss

    total $934,497 · excluded $934,497

  • 7a · Gross sales of assets other than inventory

    securities $6,047,405

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

    securities $5,968,120

  • 7c · Gain or loss

    securities $79,285 · other assets $0

  • 7d · Net gain or loss

    total $79,285 · excluded $79,285

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $248,959 · program services $248,959

  • 5 · Compensation of officers, directors and key employees

    total $804,271 · program services $590,149 · management and general $206,422 · fundraising $7,700

  • 7 · Other salaries and wages

    total $3,215,187 · program services $2,347,086 · management and general $835,949 · fundraising $32,152

  • 8 · Pension plan contributions

    total $138,783 · program services $101,887 · management and general $36,288 · fundraising $608

  • 9 · Other employee benefits

    total $1,311,592 · program services $1,203,861 · management and general $107,210 · fundraising $521

  • 10 · Payroll taxes

    total $266,051 · program services $194,217 · management and general $69,173 · fundraising $2,661

  • 11b · Fees: legal

    total $212,300 · program services $154,979 · management and general $55,198 · fundraising $2,123

  • 11c · Fees: accounting

    total $130,769 · program services $95,461 · management and general $34,000 · fundraising $1,308

  • 11g · Fees: other

    total $3,372,277 · program services $3,296,628 · management and general $72,846 · fundraising $2,803

  • 12 · Advertising and promotion

    total $147,920 · program services $107,982 · management and general $38,459 · fundraising $1,479

  • 13 · Office expenses

    total $71,271 · program services $52,028 · management and general $18,530 · fundraising $713

  • 14 · Information technology

    total $137,230 · program services $100,178 · management and general $35,680 · fundraising $1,372

  • 16 · Occupancy

    total $358,029 · program services $261,612 · management and general $92,851 · fundraising $3,566

  • 17 · Travel

    total $179,157 · program services $127,519 · management and general $49,891 · fundraising $1,747

  • 20 · Interest

    total $175,489 · program services $128,108 · management and general $45,627 · fundraising $1,754

  • 22 · Depreciation, depletion and amortization

    total $326,847 · program services $238,599 · management and general $84,980 · fundraising $3,268

  • 24a · Other expenses: Dues and Subscriptions

    total $212,798 · program services $155,343 · management and general $55,327 · fundraising $2,128

  • 24e · All other expenses

    total $24,037 · program services $17,547 · management and general $6,250 · fundraising $240

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,121,268 · end of year $2,796,577

  • 2 · Savings and temporary cash investments

    beginning of year $60,461 · end of year $796,916

  • 3 · Pledges and grants receivable

    beginning of year $3,552,075 · end of year $2,202,679

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,686,552 · end of year $1,728,219

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,918 · end of year $19,931

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

    $9,024,317

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

    $1,445,867

  • 10c · Land, buildings and equipment, net

    beginning of year $7,884,136 · end of year $7,578,450

  • 11 · Investments: publicly traded securities

    beginning of year $6,736,644 · end of year $6,517,996

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $104,834 · end of year $16,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,283,211 · end of year $4,892,949

  • 19 · Deferred revenue

    beginning of year $0 · end of year $43,333

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $8,704,492 · end of year $2,692,950

  • 25 · Other liabilities

    beginning of year $42,000 · end of year $92,083

  • 27 · Net assets without donor restrictions

    beginning of year $12,126,185 · end of year $13,935,453

Mission and programs · 2023

Mission

To EMPOWER students to ACCELERATE their academic pathways to ADVANCE their social mobility and ACHIEVE their career and life-long goals.

  • CREATING ACCESS TO QUALITY EDUCATION FOR FAMILIES BY USING START-UP CAPITAL TO CREATE AND SUPPORT SELF-SUSTAINING, SUCCESSFUL SCHOOLS THAT IMPROVE COMMUNITIES AND LIVE ON INTO PERPETUITY.

    Expenses $9,422,143 · Grants $248,959 · Revenue $6,136,603

As filed on the 2023 return.

Listed in Part VII

  • Jeff Ready

    Chair

    Total calculated
    $0
    Hours/week
    1

  • John Gottsman

    Vice Chair (UNTIL JUN 2024)

    Total calculated
    $0
    Hours/week
    1

  • Kevin Teasley

    PRESIDENT/CEO

    Total calculated
    $456,125
    From this org
    $422,733
    From related orgs
    $0
    Other
    $33,392
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $330,233
    Bonus
    $83,000
    Other
    $9,500
    Deferred
    $17,902
    Nontaxable benefits
    $15,490
    Filer's total
    $456,125

  • Geoff Baum

    MEMBER (BEGAN JUN 2024)

    Total calculated
    $0
    Hours/week
    1

  • Jeremiah Tate

    MEMBER (BEGAN JUN 2024)

    Total calculated
    $0
    Hours/week
    1

  • Rob Kremer

    MEMBER (BEGAN JUN 2024)

    Total calculated
    $0
    Hours/week
    1

  • DANA L Teasley

    VICE PRESIDENT/CFO

    Total calculated
    $338,630
    From this org
    $322,250
    From related orgs
    $0
    Other
    $16,380
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $278,250
    Bonus
    $44,000
    Other
    $0
    Deferred
    $16,380
    Nontaxable benefits
    $0
    Filer's total
    $338,630

  • Jeffery Lozer

    Chief Operations Officer

    Total calculated
    $168,261
    From this org
    $158,737
    From related orgs
    $0
    Other
    $9,524
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $144,812
    Bonus
    $7,241
    Other
    $6,684
    Deferred
    $9,524
    Nontaxable benefits
    $0
    Filer's total
    $168,261

  • Kathy Pitts

    Chief Accounting Officer

    Total calculated
    $223,807
    From this org
    $197,635
    From related orgs
    $0
    Other
    $26,172
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,454
    Bonus
    $15,000
    Other
    $2,181
    Deferred
    $9,922
    Nontaxable benefits
    $16,250
    Filer's total
    $223,807

  • Peter Morikis

    Executive Director - NW Indiana

    Total calculated
    $177,879
    From this org
    $164,727
    From related orgs
    $0
    Other
    $13,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,073
    Bonus
    $10,000
    Other
    $8,654
    Deferred
    $9,225
    Nontaxable benefits
    $3,927
    Filer's total
    $177,879

  • Reena Gupta

    Accounting Director

    Total calculated
    $140,390
    From this org
    $125,527
    From related orgs
    $0
    Other
    $14,863
    Hours/week
    40

  • Sandra Douglas

    Chief Academic Officer (THROUGH DEC 2023)

    Total calculated
    $159,016
    From this org
    $148,466
    From related orgs
    $0
    Other
    $10,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,639
    Bonus
    $11,000
    Other
    $1,827
    Deferred
    $9,001
    Nontaxable benefits
    $1,549
    Filer's total
    $159,016

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GEOF HOLDINGS INDIANA LLC

    REAL ESTATE · IN · income $0 · assets $10,374

    Directly controlled by GREATER EDUCATIONAL OPPORTUNITIES FOUNDATION

  • GEOF HOLDINGS COLORADO LLC

    REAL ESTATE · CO · income $0 · assets $0

    Directly controlled by GREATER EDUCATIONAL OPPORTUNITIES FOUNDATION

  • GEO ACADEMIES INDIANA HOLDING LLC

    EDUCATION · IN · income $550,727 · assets $4,688,420

    Directly controlled by GREATER EDUCATIONAL OPPORTUNITIES FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202521299349302567

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.