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Nonprofiteer
← CALIFORNIA EDUCATION ASSISTANCE INC

Form 990 for tax year 2024

Filed by CALIFORNIA EDUCATION ASSISTANCE INC.

Totals

Total revenue
$1,668,223
Total expenses
$1,616,266
Contributions and grants received
$0
Grants paid
$368,690
Program service revenue
$0
Investment income
$1,668,223
Other revenue
$0
Total assets, end of year
$36,218,063
Total liabilities, end of year
$190,675
Net assets or fund balances, end of year
$36,027,388
Program services expenses (Part IX)
$1,336,777
Management and general expenses
$279,489
Fundraising expenses
$0
Program service expenses (Part III)
$1,336,777

Program services were 82.7% 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.

  • 3 · Investment income

    total $1,221,184 · related or exempt $0 · unrelated business $0 · excluded $1,221,184

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $8,966,861 · other assets $0

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

    securities $8,519,822 · other assets $0

  • 7c · Gain or loss

    securities $447,039 · other assets $0

  • 7d · Net gain or loss

    total $447,039 · related or exempt $0 · unrelated business $0 · excluded $447,039

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $368,690 · program services $368,690

  • 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 $555,938 · program services $500,344 · management and general $55,594 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $203,534 · program services $183,181 · management and general $20,353 · fundraising $0

  • 8 · Pension plan contributions

    total $525 · program services $525 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $64,643 · program services $58,179 · management and general $6,464 · fundraising $0

  • 10 · Payroll taxes

    total $32,485 · program services $29,236 · management and general $3,249 · fundraising $0

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $7,190 · program services $0 · management and general $7,190 · fundraising $0

  • 11c · Fees: accounting

    total $43,145 · program services $0 · management and general $43,145 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $89,157 · program services $0 · management and general $89,157 · fundraising $0

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

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

  • 13 · Office expenses

    total $8,416 · program services $7,574 · management and general $842 · fundraising $0

  • 14 · Information technology

    total $48,440 · program services $43,596 · management and general $4,844 · fundraising $0

  • 15 · Royalties

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

  • 16 · Occupancy

    total $72,094 · program services $64,885 · management and general $7,209 · fundraising $0

  • 17 · Travel

    total $34,546 · program services $31,091 · management and general $3,455 · fundraising $0

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

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

  • 20 · Interest

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

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $3,375 · program services $3,037 · management and general $338 · fundraising $0

  • 23 · Insurance

    total $67,856 · program services $32,724 · management and general $35,132 · fundraising $0

  • 24a · Other expenses: Association Dues

    total $8,155 · program services $7,339 · management and general $816 · fundraising $0

  • 24b · Other expenses: Grant Review Expenses

    total $4,529 · program services $4,529 · management and general $0 · fundraising $0

  • 24c · Other expenses: Taxes

    total $1,496 · program services $0 · management and general $1,496 · fundraising $0

  • 24d · Other expenses: Payroll Services

    total $2,052 · program services $1,847 · management and general $205 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $101,551 · end of year $405,135

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 · end 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 $197,241 · end of year $177,989

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

    $251,429

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

    $244,865

  • 10c · Land, buildings and equipment, net

    beginning of year $3,600 · end of year $6,564

  • 11 · Investments: publicly traded securities

    beginning of year $33,846,396 · end of year $35,556,473

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,777 · end of year $71,902

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,829 · end of year $51,804

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $63,000 · end of year $138,871

  • 27 · Net assets without donor restrictions

    beginning of year $34,055,736 · end of year $36,027,388

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

California Education Assistance's mission is to help improve public education in California by removing barriers to learning and fostering creative, innovative solutions that empower students and educators. We are committed to ensuring equitable access to resources, opportunities, and support systems that enable every learner to reach their full potential. Through collaboration, advocacy, and forward-thinking initiatives, we strive to create a future where education is inclusive, dynamic, and transformative for all.

Activities or mission (Part I)

Provide grants to tax exempt organizations that provide education-related outreach services, counseling of students, and student resources to assist individuals in pursuing an education.

  • Distribute resources to non-profit organizations that provide critical services to California students in support of opportunities for an equitable education, including completion of post-secondary education and achievement of career goals

    Expenses $1,336,777 · Grants $368,690

As filed on the 2024 return.

Listed in Part VII

  • William R Hansen

    Chief Administrative Officer

    Total calculated
    $475,599
    From this org
    $406,559
    From related orgs
    $0
    Other
    $69,040
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,932
    Bonus
    $204,000
    Other
    $24,627
    Deferred
    $15,373
    Nontaxable benefits
    $53,667
    Filer's total
    $475,599

  • William Markenson

    CEO, Board Chairman

    Total calculated
    $332,028
    From this org
    $293,082
    From related orgs
    $0
    Other
    $38,946
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $112,422
    Bonus
    $151,923
    Other
    $28,737
    Deferred
    $3,244
    Nontaxable benefits
    $35,702
    Filer's total
    $332,028

  • Sheryl Levy

    Program Director and Office Manager

    Total calculated
    $213,358
    From this org
    $184,107
    From related orgs
    $0
    Other
    $29,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $80,525
    Bonus
    $94,250
    Other
    $9,332
    Deferred
    $5,964
    Nontaxable benefits
    $23,287
    Filer's total
    $213,358

  • Janet Murillo

    Director/Secretary

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Fromer

    Director

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Laura Johnson

    Director

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donald Sternberg

    Director

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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)

Schedule J, Part I, Line 4
Deferred severance from merger with ALL Management Corporation was paid for William Hansen $204,000 for Sheryl Levy $79,250 and for William Markenson $26.923. ALL Management was merged into California Education Assistance and assumed all its liabilities including the accrued severance payable. These amounts were reported as deferred compensation on the ALL Management Corporation 2023 final form 990.

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

  • Walking Strong Inc

    $60,000

    Grant provides funding to support production of a documentary short film that will provide awareness and support for those with Duchenne Muscular Dystrophy and their families.

  • Adopt-A-Classroom

    $50,000

    Grant provides funds to teachers in high needs elementary and middle schools in California to help them equip their classrooms and students for success for the school year. The funds will be used on much needed teaching resources for their classrooms.

  • Mission Bit

    $50,000

    Grant funds the Mission Bit Youth Program to conduct 4 Youth Coding Courses, which will provide introductory instruction in project based coding. The courses are taught by trained computer science majors and students from historically underrepresented communities are given priority for participating in this program.

  • Friends of GALA

    $50,000

    Grant will fund the GALA College Counseling Support Program that provides College Bootcamps, online SAT prep courses, California college visits and a summer melt transitional program for graduating high school seniors.

  • High School Inc Acadamies Foundation

    $50,000

    Grant will provide funding for High School Inc's Career and Readiness Program in the areas of Culinary and Hospitality, New Media, and Global Business.

  • Saint Marys College of California

    $50,000

    Grant provides funding for the High Potential Program at Saint Mary's College. This is a flagship retention initiative that provides comprehensive support to first-generation, low-income, and underrepresented students, equipping them with essential academic, leadership, and life skills. HP students benefit from intensive support during their first year and ongoing guidance throughout their college journey, preparing them for graduation and successful careers.

  • Strada Collaborative Inc dba Inside Track

    $43,690

    Funding for InsideTrack Student Success Coaching that is designed to improve student engagement, persistence, and satisfaction while generating valuable insights to inform institutional decision-making. Through digital guidance, outreach, and one-on-one meetings, coaches ensure that students engage with available resources and develop a plan to efficiently and effectively complete their degree program.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
30 April 2026
IRS schema version
2024v5.0
Source object
202621209349301847

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