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Nonprofiteer
← HELIOS EDUCATION FOUNDATION

Form 990 for tax year 2022

Filed by HELIOS EDUCATION FOUNDATION.

Totals

Total revenue
-$12,696,190
Total expenses
$36,928,499
Contributions and grants received
$0
Grants paid
$20,096,751
Program service revenue
$0
Investment income
-$12,696,190
Other revenue
$0
Total assets, end of year
$740,953,286
Total liabilities, end of year
$30,496,388
Net assets or fund balances, end of year
$710,456,898
Program services expenses (Part IX)
$31,292,227
Management and general expenses
$5,636,272
Fundraising expenses
$0
Program service expenses (Part III)
$31,292,227

Program services were 84.7% 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.

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $13,830,758 · unrelated business -$1,512,284 · excluded $15,343,042

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $117,886,544

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

    securities $144,413,492

  • 7c · Gain or loss

    securities -$26,526,948 · other assets $0

  • 7d · Net gain or loss

    total -$26,526,948 · excluded -$26,526,948

  • 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 $20,096,751 · program services $20,096,751

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $3,516,682 · program services $1,875,367 · management and general $1,641,315

  • 7 · Other salaries and wages

    total $2,550,811 · program services $1,726,306 · management and general $824,505

  • 8 · Pension plan contributions

    total $637,408 · program services $392,291 · management and general $245,117

  • 9 · Other employee benefits

    total $776,952 · program services $517,822 · management and general $259,130

  • 10 · Payroll taxes

    total $326,447 · program services $211,653 · management and general $114,794

  • 11b · Fees: legal

    total $97,182 · program services $58,309 · management and general $38,873

  • 11c · Fees: accounting

    total $100,742 · program services $10,074 · management and general $90,668

  • 11d · Fees: lobbying

    total $8,861 · program services $8,861

  • 11f · Fees: investment management

    total $1,070,002 · management and general $1,070,002

  • 11g · Fees: other

    total $1,252,296 · program services $1,037,200 · management and general $215,096 · fundraising $0

  • 13 · Office expenses

    total $267,991 · program services $186,521 · management and general $81,470

  • 14 · Information technology

    total $395,778 · program services $197,782 · management and general $197,996

  • 16 · Occupancy

    total $1,563,204 · program services $1,431,990 · management and general $131,214

  • 17 · Travel

    total $344,931 · program services $70,772 · management and general $274,159

  • 19 · Conferences, conventions and meetings

    total $579,148 · program services $319,312 · management and general $259,836

  • 22 · Depreciation, depletion and amortization

    total $2,501,639 · program services $2,487,996 · management and general $13,643

  • 23 · Insurance

    total $167,220 · program services $112,300 · management and general $54,920

  • 24a · Other expenses: COMMUNITY RELATIONS

    total $614,628 · program services $491,702 · management and general $122,926

  • 24b · Other expenses: COMMUNITY EVENT SPONSORSHIP

    total $58,027 · program services $58,027

  • 24c · Other expenses: BANK SERVICING FEES

    total $1,799 · program services $1,191 · management and general $608

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,404,395 · end of year $2,251,080

  • 2 · Savings and temporary cash investments

    beginning of year $11,242,657 · end of year $11,994,080

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $123,275 · end of year $80,563

  • 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 $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $178,958 · end of year $132,655

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

    $73,561,557

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

    $9,891,669

  • 10c · Land, buildings and equipment, net

    beginning of year $66,022,769 · end of year $63,669,888

  • 11 · Investments: publicly traded securities

    beginning of year $371,301,908 · end of year $397,968,469

  • 12 · Investments: other securities

    beginning of year $249,842,273 · end of year $264,851,551

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $5,000 · end of year $5,000

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,462,911 · end of year $3,116,547

  • 18 · Grants payable

    beginning of year $31,770,714 · end of year $27,379,841

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $665,887,610 · end of year $710,456,898

Mission and programs · 2022

Mission

TO ENRICH THE LIVES OF INDIVIDUALS IN ARIZONA AND FLORIDA BY CREATING OPPORTUNITIES FOR SUCCESS IN POST-SECONDARY EDUCATION.

  • HELIOS EDUCATION FOUNDATION IS DEDICATED TO CREATING OPPORTUNITIES FOR INDIVIDUALS IN ARIZONA AND FLORIDA TO ACHIEVE A POSTSECONDARY EDUCATION. THE FOUNDATION'S WORK IS DRIVEN BY ITS FOUR FUNDAMENTAL BELIEFS: 1) COMMUNITY - EDUCATION CHANGES LIVES AND STRENGTHENS COMMUNITIES. 2) INVESTMENT - EDUCATION IS AN INVESTMENT, NOT AN EXPENSE. 3) EQUITY - EVERY STUDENT, REGARDLESS OF ZIP CODE, DESERVES A HIGH- QUALITY EDUCATION. 4) PARTNERSHIP - THE FOUNDATION WILL ACHIEVE ITS MISSION THROUGH PARTNERSHIP AND COLLABORATION. HELIOS EDUCATION FOUNDATION HAS A DEEP AND LONGSTANDING COMMITMENT TO THE VALUES OF DIVERSITY, EQUITY, AND INCLUSION. WE SEEK TO INTEGRATE THIS COMMITMENT INTO ALL ASPECTS OF THE FOUNDATION'S OPERATIONS AND WE SEEK THE SAME COMMITMENT FROM OUR EXTERNAL PARTNERS. OUR COMMITMENT IS ROOTED IN OUR MISSION, OUR VALUES, AND IN OUR FOUR FUNDAMENTAL BELIEFS OF COMMUNITY, INVESTMENT, EQUITY, AND PARTNERSHIP. HELIOS INVESTS IN PROGRAMS AND INITIATIVES ACROSS THE FULL EDUCATION CONTINUUM, FROM EARLY GRADE SUCCESS THROUGH POSTSECONDARY EDUCATION. HELIOS PARTNERS WITH UNIVERSITIES, COLLEGES, ELEMENTARY AND SECONDARY SCHOOLS, AND OTHER ELIGIBLE EDUCATIONAL ORGANIZATIONS AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HELIOS EDUCATION FOUNDATION AIMS TO ACCELERATE THE PACE OF CHANGE IN ARIZONA BY FOCUSING ON SPECIFIC POPULATIONS-LOW-INCOME AND LATINO STUDENTS. IN ARIZONA, THE LATINO POPULATION IS THE FASTEST GROWING SUB POPULATION IN THE STATE. LATINO STUDENTS REPRESENT 45 PERCENT OF THE STUDENT POPULATION AND ARE EXPECTED TO REPRESENT MORE THAN 50 PERCENT OF THE STUDENT POPULATION BY 2026. HELIOS EDUCATION FOUNDATION AIMS TO ACCELERATE THE PACE OF CHANGE IN FLORIDA BY FOCUSING ON SPECIFIC POPULATIONS-LOW-INCOME AND BLACK STUDENTS. IN FLORIDA, BLACK STUDENTS COMPRISE THE LARGEST SUB POPULATION THAT NEEDS THE MOST HELP, PARTICULARLY IN OUR THREE TARGET COMMUNITIES (TAMPA BAY, CENTRAL FLORIDA, AND SOUTH FLORIDA). THE FOUNDATION'S COMMITMENT TO EDUCATION IS LONG-TERM AND ITS FINANCIAL SUPPORT IS FOCUSED ON INVESTING IN SUSTAINABLE PROGRAMS AND INITIATIVES AT EDUCATIONAL ORGANIZATIONS THAT SPECIFICALLY IMPACT THE EDUCATIONAL SUCCESS OF ALL STUDENTS. DURING FY23, HELIOS EDUCATION FOUNDATION PROVIDED APPROXIMATELY $20 MILLION IN GRANTS AND $922 THOUSAND IN-KIND GIVING TO EDUCATIONAL ORGANIZATIONS LOCATED IN ARIZONA AND FLORIDA. THIS FUNDING AND IN-KIND GIVING PROVIDED SUPPORT TO SCHOOLS, UNIVERSITIES AND OTHER EDUCATIONAL ORGANIZATIONS AND NON-PROFITS THAT IMPROVE THE CONDITIONS OF AND ACCESS TO EDUCATION. Helios Education Foundation has a purposeful focus on results. Our Impact Strategy focuses on three key drivers essential to getting students on track for college attainment: Ensure that students are reading by the third grade; Increase college enrollments; and Increase attainment of two- and four-year college degrees. PRIORITIES IN ACHIEVING OUR LONG-TERM GOAL: 1) Helios supports improvements in early learning through: Continual improvement of quality early learning teaching; increasing access to quality early learning environments, particularly for Black, Latino, and low-income students; and expanding the use of research-based literacy initiatives grounded in the science of reading. 2) Helios supports increases in the percent and number of Black, Latino, and low-income students attending college by: Increasing access and enrollment in rigorous courses (including AP and dual enrollment); and closing the "information gap" for students and their families on how to apply to and afford college. 3) Helios supports increases in the percent and number of Black, Latino, and low-income students persisting in and completing two- and four-year degrees by increasing the number and proportion of students who: receive financial aid; receive completion-focused scholarships; and make an effective transition from a community college to a four-year college or university. Helios also supports the expansion of student support services to keep students enrolled and persisting in college.

    Expenses $31,292,227 · Grants $20,096,751

As filed on the 2022 return.

Listed in Part VII

  • JANE ROIG

    VICE-CHAIR

    Total calculated
    $86,360
    From this org
    $86,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • PAUL LUNA

    PRESIDENT AND CEO

    Total calculated
    $661,603
    From this org
    $583,517
    From related orgs
    $0
    Other
    $78,086
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $457,584
    Bonus
    $75,000
    Other
    $50,933
    Deferred
    $40,500
    Nontaxable benefits
    $37,586
    Filer's total
    $661,603

  • STEVEN WHEELER

    DIRECTOR & SECRETARY

    Total calculated
    $54,569
    From this org
    $54,569
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • VADA MANAGER

    DIRECTOR & TREASURER

    Total calculated
    $66,240
    From this org
    $66,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • VINCENT ROIG

    CHAIRMAN

    Total calculated
    $343,004
    From this org
    $307,163
    From related orgs
    $0
    Other
    $35,841
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $234,568
    Bonus
    $60,000
    Other
    $12,595
    Deferred
    $0
    Nontaxable benefits
    $35,841
    Filer's total
    $343,004

  • CHEVY HUMPHREY

    DIRECTOR

    Total calculated
    $25,527
    From this org
    $25,527
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • DON ARIPOLI

    DIRECTOR

    Total calculated
    $61,543
    From this org
    $61,543
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • IOANNA MORFESSIS

    DIRECTOR

    Total calculated
    $65,360
    From this org
    $65,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • JAMES SWANSON

    DIRECTOR

    Total calculated
    $42,527
    From this org
    $42,527
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • LARRY RICE

    DIRECTOR

    Total calculated
    $37,257
    From this org
    $37,257
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • MARIA SASTRE

    DIRECTOR

    Total calculated
    $60,698
    From this org
    $60,698
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • MARK FERNANDEZ

    DIRECTOR

    Total calculated
    $64,443
    From this org
    $64,443
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • TOM HERNDON

    DIRECTOR

    Total calculated
    $70,163
    From this org
    $70,163
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • BARBARA RYAN THOMPSON

    EXECUTIVE VICE PRESIDENT & COO

    Total calculated
    $496,433
    From this org
    $429,758
    From related orgs
    $0
    Other
    $66,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $335,471
    Bonus
    $60,000
    Other
    $34,287
    Deferred
    $40,500
    Nontaxable benefits
    $26,175
    Filer's total
    $496,433

  • MICHAEL CHESIN

    SENIOR VICE PRESIDENT & CFO

    Total calculated
    $419,296
    From this org
    $342,356
    From related orgs
    $0
    Other
    $76,940
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,312
    Bonus
    $45,000
    Other
    $22,044
    Deferred
    $40,039
    Nontaxable benefits
    $36,901
    Filer's total
    $419,296

  • CHARLES HOKANSON

    SVP FL COMMUNITY ENGAGEMENT

    Total calculated
    $274,383
    From this org
    $226,083
    From related orgs
    $0
    Other
    $48,300
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,000
    Bonus
    $0
    Other
    $1,083
    Deferred
    $28,125
    Nontaxable benefits
    $20,175
    Filer's total
    $274,383

  • JANICE PALMER

    SVP GOVERNMENT AFFAIRS & PUBLIC POLICY

    Total calculated
    $273,247
    From this org
    $224,891
    From related orgs
    $0
    Other
    $48,356
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,230
    Bonus
    $10,000
    Other
    $661
    Deferred
    $28,029
    Nontaxable benefits
    $20,327
    Filer's total
    $273,247

  • PAUL PERRAULT

    SVP COMMUNITY IMPACT & LEARNING

    Total calculated
    $316,952
    From this org
    $232,262
    From related orgs
    $0
    Other
    $84,690
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,233
    Bonus
    $10,000
    Other
    $8,029
    Deferred
    $28,029
    Nontaxable benefits
    $56,661
    Filer's total
    $316,952

  • VINCE YANEZ

    SVP AZ COMMUNITY ENGAGEMENT

    Total calculated
    $317,303
    From this org
    $231,628
    From related orgs
    $0
    Other
    $85,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,628
    Bonus
    $5,000
    Other
    $0
    Deferred
    $29,014
    Nontaxable benefits
    $56,661
    Filer's total
    $317,303

  • BRAULIO COLON

    VP FL STUDENT SUCCESS INITIATIVES

    Total calculated
    $242,378
    From this org
    $181,881
    From related orgs
    $0
    Other
    $60,497
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,000
    Bonus
    $0
    Other
    $1,881
    Deferred
    $22,500
    Nontaxable benefits
    $37,997
    Filer's total
    $242,378

  • GRACE MASEDA

    VP COMMUNICATIONS FL

    Total calculated
    $199,106
    From this org
    $144,031
    From related orgs
    $0
    Other
    $55,075
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,086
    Bonus
    $1,624
    Other
    $4,321
    Deferred
    $17,460
    Nontaxable benefits
    $37,615
    Filer's total
    $199,106

  • JULIE NORWOOD

    VP GRANTS AND PROJECT MANAGEMENT

    Total calculated
    $174,858
    From this org
    $134,729
    From related orgs
    $0
    Other
    $40,129
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,115
    Bonus
    $1,624
    Other
    $990
    Deferred
    $16,717
    Nontaxable benefits
    $23,412
    Filer's total
    $174,858

  • TINA DENICOLE

    VP FINANCE AND ADMINISTRATION

    Total calculated
    $218,331
    From this org
    $182,693
    From related orgs
    $0
    Other
    $35,638
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,173
    Bonus
    $7,500
    Other
    $2,020
    Deferred
    $22,584
    Nontaxable benefits
    $13,054
    Filer's total
    $218,331

  • ZACHARY FONTES

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $182,561
    From this org
    $133,073
    From related orgs
    $0
    Other
    $49,488
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,449
    Bonus
    $1,624
    Other
    $0
    Deferred
    $11,910
    Nontaxable benefits
    $37,578
    Filer's total
    $182,561

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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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)

Schedule J, Part I, Line 1a First-class or charter travel
BOARD MEMBERS AND CORPORATE OFFICERS MAY TRAVEL 'FIRST CLASS' FOR FOUNDATION-RELATED BUSINESS IF THE TRAVEL TIME EXCEEDS TWO HOURS. ON OCCASION, FOUNDATION STAFF TRAVELING WITH A BOARD MEMBER ON FLIGHTS EXCEEDING TWO HOURS MAY BE UPGRADED TO 'FIRST CLASS'.
Schedule J, Part I, Line 1a Travel for companions
COMPANION TRAVEL IS PROVIDED IN LIMITED CIRCUMSTANCES AND IS REPORTED AS TAXABLE INCOME TO THE INDIVIDUAL.
Schedule J, Part I, Line 4a Severance or change-of-control payment
SEVERANCE TOTALING $45,865 WAS PAID TO CHARLES HOKANSON. THE AMOUNT WAS BASED ON HIS LENGTH OF SERVICE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE BOARD OF DIRECTORS HAS APPROVED THE ESTABLISHMENT OF A 457(F) PLAN FOR EXECUTIVE STAFF. THE PLAN IS AN UNFUNDED PLAN ESTABLISHED AND MAINTAINED FOR THE PRIMARY PURPOSE OF PROVIDING CERTAIN KEY EMPLOYEES WHO CONTRIBUTE TO THE SUCCESS OF THE FOUNDATION WITH THE OPPORTUNITY TO BENEFIT FROM SUPPLEMENTAL FOUNDATION CONTRIBUTIONS OF INCOME. THE PLAN IS INTENDED TO COMPLY IN ALL RESPECTS WITH CODE SECTION 457(F) AND 409A AND THOSE PROVISIONS OF ERISA APPLICABLE TO AN UNFUNDED PLAN MAINTAINED PRIMARILY TO PROVIDE DEFERRED COMPENSATION BENEFITS FOR A SELECT GROUP OF "MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES."
Schedule J, Part I, Line 7 Non-fixed payments
DISCRETIONARY BONUSES WERE AUTHORIZED BY THE BOARD FOR CERTAIN INDIVIDUALS BASED ON PERFORMANCE.

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
1 February 2024
IRS schema version
2022v5.0
Source object
202420329349301717

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