Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $38,809,930

• 3 · Investment income

  total $76,972,538 · unrelated business $510,805 · excluded $76,461,733

• 7a · Gross sales of assets other than inventory

  securities $407,898,897

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

  securities $434,457,705

• 7c · Gain or loss

  securities -$26,558,808

• 7d · Net gain or loss

  total -$26,558,808 · excluded -$26,558,808

• 11a · Other revenue: REIMB. FROM AFFILIATES

  total $382,505 · related or exempt $382,505

• 11d · All other revenue

  total $315 · related or exempt $315

• 11e · Other revenue, total

  $382,820

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $32,589,442 · program services $32,589,442

• 5 · Compensation of officers, directors and key employees

  total $6,680,993 · management and general $6,680,993

• 7 · Other salaries and wages

  total $16,373,017 · program services $5,517,309 · management and general $10,855,708

• 9 · Other employee benefits

  total $4,272,667 · program services $2,087,449 · management and general $2,185,218

• 10 · Payroll taxes

  total $1,284,805 · program services $403,157 · management and general $881,648

• 11b · Fees: legal

  total $1,555,460 · management and general $1,555,460

• 11c · Fees: accounting

  total $547,539 · management and general $547,539

• 11f · Fees: investment management

  total $16,833,217 · management and general $16,833,217

• 11g · Fees: other

  total $11,533,916 · program services $3,006,958 · management and general $8,526,958

• 12 · Advertising and promotion

  total $1,693,650 · program services $1,562,316 · management and general $131,334

• 13 · Office expenses

  total $168,519 · program services $57,915 · management and general $110,604

• 14 · Information technology

  total $1,805,165 · program services $354,981 · management and general $1,450,184

• 16 · Occupancy

  total $1,827,392 · program services $628,016 · management and general $1,199,376

• 17 · Travel

  total $1,287,685 · program services $587,561 · management and general $700,124

• 19 · Conferences, conventions and meetings

  total $557,286 · program services $253,023 · management and general $304,263

• 20 · Interest

  total $24,822 · management and general $24,822

• 22 · Depreciation, depletion and amortization

  total $1,176,980 · program services $404,490 · management and general $772,490

• 23 · Insurance

  total $716,376 · program services $245,346 · management and general $471,030

• 24a · Other expenses: UBI TAXES

  total $718,420 · management and general $718,420

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $58,584,935 · end of year $54,244,720

• 4 · Accounts receivable

  beginning of year $15,605,905 · end of year $3,063,820

• 7 · Other notes and loans receivable

  beginning of year $672,400 · end of year $677,400

• 9 · Prepaid expenses and deferred charges

  beginning of year $281,574 · end of year $327,074

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

  $5,031,145

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

  $2,403,310

• 10c · Land, buildings and equipment, net

  beginning of year $3,101,947 · end of year $2,627,835

• 11 · Investments: publicly traded securities

  beginning of year $327,755,224 · end of year $302,816,623

• 12 · Investments: other securities

  beginning of year $1,593,572,487 · end of year $1,517,017,965

• 13 · Investments: program-related

  beginning of year $48,751,455 · end of year $48,771,454

• 14 · Intangible assets

  beginning of year $539,465 · end of year $0

• 15 · Other assets

  beginning of year $7,115,527 · end of year $15,417,076

• 17 · Accounts payable and accrued expenses

  beginning of year $20,357,407 · end of year $21,939,920

• 18 · Grants payable

  beginning of year $16,809,135 · end of year $24,513,794

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0

• 25 · Other liabilities

  beginning of year $6,632,424 · end of year $13,557,818

• 27 · Net assets without donor restrictions

  beginning of year $2,012,181,953 · end of year $1,884,952,435

The filer's explanations (Part III)

PART I, LINE 1A

1. FIRST CLASS TRAVEL - FIRST CLASS TRAVEL IS APPROVED FOR ALL TRUSTEES IF THE FLIGHT IS MORE THAN 2 HOURS IN DURATION OR IF A MEDICAL CONDITION EXISTS WHICH REQUIRES THE NEED FOR AN UPGRADE. THIS NON-TAXABLE BUSINESS EXPENSE IS NOT TREATED AS ADDITIONAL TAXABLE COMPENSATION TO THE TRUSTEE. FIRST CLASS TRAVEL IS APPROVED FOR EMPLOYEES, AT THE DISCRETION OF THE CEO, IF THEY TRAVEL FREQUENTLY AS PART OF THEIR POSITION OR IF A MEDICAL CONDITION EXISTS WHICH REQUIRES THE NEED FOR AN UPGRADE. DURING 2022, ONE OFFICER AND TWELVE BOARD MEMBERS USED FIRST CLASS TRAVEL. 2. HEALTH OR SOCIAL CLUB DUES - STRADA EDUCATION FOUNDATION, INC. MAY REIMBURSE EACH OFFICER UP TO A MAXIMUM OF $250 PER CALENDAR YEAR FOR THE COST OF (I) EXERCISE EQUIPMENT PURCHASED DURING THE APPLICABLE CALENDAR YEAR AND/OR (II) A HEALTH OR FITNESS CLUB MEMBERSHIP. ALL REIMBURSEMENTS ARE CONSIDERED TAXABLE INCOME TO THE EMPLOYEE. DURING 2022, TWO OFFICERS, ONE FORMER OFFICER, TWO KEY EMPLOYEES, AND FOUR HIGHEST COMPENSATED EMPLOYEES RECEIVED REIMBURSEMENT FOR HEALTH OR SOCIAL CLUB DUES.

PART I, LINE 4A:

UNDER A VOLUNTARY TERMINATION AGREEMENT ENTERED INTO BY THE EMPLOYEE AND THE ORGANIZATION OR UPON A QUALIFYING TERMINATION DEFINED AS AN INVOLUNTARY SEPARATION FROM SERVICE OTHER THAN FOR CAUSE, THE EMPLOYEE IS ENTITLED TO SEVERANCE PAY BASED UPON YEARS OF SERVICE. THE TERMS AND CONDITIONS TO RECEIVE SEVERANCE PAYMENTS REQUIRE THE EMPLOYEE TO SIGN A RELEASE OF CLAIMS FORM THAT COVERS ALL SITUATIONS SURROUNDING THE EMPLOYEE'S EMPLOYMENT AND SEPARATION FROM STRADA EDUCATION FOUNDATION, INC. A SEVERANCE PAYMENT WAS MADE DURING THE YEAR TO THE FOLLOWING LISTED PERSONS IN PART VII: WILLIAM HANSEN - $1,129,369 CAROL D'AMICO - $146,730 SCOTT FLEMING - $133,189

PART I, LINE 4B:

ELIGIBLE EMPLOYEES PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER CODE SECTION 457(F). ANY AMOUNTS ULTIMATELY PAID UNDER THE PLAN TO AN ELIGIBLE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. PAYMENTS UNDER THE 457(F) PLAN WERE MADE DURING CALENDAR YEAR 2022 TO THE FOLLOWING LISTED PERSONS IN PART VII: LARRY LUTZ - $13,470 THOMAS DAWSON - $18,327 MICHAEL AUSTIN - $2,781

PART I, LINE 7:

ALL OFFICERS AND ALL EMPLOYEES OF THE COMPANY PARTICIPATE IN THE "EMPLOYEE INCENTIVE PLAN." ANNUAL PAYMENTS ARE BASED ON OVERALL CORPORATE PERFORMANCE IN THE ACCOMPLISHMENT OF THE CORPORATE OBJECTIVES, AS EVALUATED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, AND INDIVIDUAL PERFORMANCE. THE AMOUNT OF THE PAYMENT IS A PERCENTAGE OF ANNUAL SALARY, VARYING BY THE SALARY GRADE OF THE INDIVIDUAL POSITION. THE CHIEF EXECUTIVE OFFICER, EXECUTIVE VICE PRESIDENTS, AND SENIOR VICE PRESIDENTS OF THE COMPANY PARTICIPATE IN THE "LONG TERM INCENTIVE PLAN." ANNUAL PAYMENTS ARE BASED ON OVERALL CORPORATE PERFORMANCE IN THE ACCOMPLISHMENT OF THE CORPORATE OBJECTIVES, AS EVALUATED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE AMOUNT OF THE PAYMENT IS A PERCENTAGE OF ANNUAL SALARY, VARYING BY THE SALARY GRADE OF THE INDIVIDUAL POSITION.

Related corporations and trusts

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

• ROADTRIP PRODUCTIONS LTD

  C · EDUCATION OUTREACH · DE · controlled entity

• STRADA SOLUTIONS INC

  C · HOLDING COMPANY · DE · 100% owned · share of income $16,458,292 · share of assets $17,427,485 · controlled entity

  Directly controlled by STRADA EDUCATION FOUNDATION INC