School for Esoteric Studies INC

Public charity (501(c)(3)) Asheville, NC EIN 13-1832805 NTEE B99Z
Revenue
$151K
▲ +71%
FY2024 · Pt VIII · Ln 12
Expenses
$108K
▲ +0.6%
FY2024 · Pt IX · Ln 25
Net assets
$1.4M
FY2024 · Pt X · Ln 32
To programs
67%
FY2024 · Pt IX · col B
Revenue & expenses by yearFY2020–FY2024
Revenue
$151K
FY2024▲ +71%
Expenses
$108K
FY2024▲ +0.6%

Trains people in Ageless Wisdom teachings and practices.

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Tax-deductible?
Yes
Per the IRS master file. Details →
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
67% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
$100K–1M
↑ +71% vs prior year Details →

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Trains people in Ageless Wisdom teachings and practices.

Type
Public charity (501(c)(3)) · Education
Location
Asheville, NC
Website
www.esotericstudies.net
Filings
5 on file (2020–2024)
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Where the money goes · FY2024
Where spending went · Part IX cols B–D
Program services $0.67 Management & general $0.31 Fundraising $0.02
Program efficiency
67%
of spending reaches programs-0.4% vs prior filing year
Operating runway
158.0mo
months of highly liquid reserves at operating expense rate▲ +7% vs prior filing year
Surplus margin
+28%
revenue over expenses, this year▲ +233% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$1.4M
FY2024▲ +8%
Total liabilities
$6K
FY2024▲ ×28
Revenue less expensesPt I · Ln 19$43K
Total assetsPt X · Ln 16$1.4M
Program-expense ratioPt IX · col B67%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 42

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CSchool for Esoteric Studies INC
EINHdr · item D13-1832805
Principal addressHdr · item CAsheville, NC
WebsiteHdr · item Jwww.esotericstudies.net
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B99Z)
Ruling yearIRS BMFNov 1958

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$30,090Pt VII · Sec A
$10,000Pt VII · Sec A
Interim Ed - December 2024
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Gail Jolley’s $30K as Executive Director is at the 23rd percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Gail Jolley$30,090$30,090$30,090$30,900$30,090
Miguel Malagreca$10,000$10,000$10,000$5,000—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $72K of program spending, described in the organization's own filed words · FY2024.
01

Education

We provide lesson materials and instruction for correspondence courses in the Ageless Wisdom for 306 members, which includes 19 new students. We received 128 application requests to the School.

$72Kprogram expense
02

Public Awareness Outreach

We produced 12 monthly group letters in three languages (English, Spanish, Italian) that are circulated among our membership and others within the spiritual community. We also sent out two free Newsletters in 2024, which were distributed to the entire School membership and also upon request.

Pt IX · col B
03

Student Service

449 members receive our yearly conference set; this is a document composed of study excerpts on a particular subject, three conference talks and a conference report. 63 students received lesson sets and individual commentaries on their work in three languages.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$85K · 56%
Investment income$66K · 44%
Contributions & grants56%$85K
Investment income44%$66K
Total revenueLn 12$151K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.67 Management & general $0.31 Fundraising $0.02
Program services67%$72K
Management & general31%$33K
Fundraising2%$3K
Total functional expensesLn 25$108K

Balance Sheet

Part X · end of year
CashLn 1$10K
Total assetsLn 16$1.4M
Total liabilitiesLn 26$6K
Total net assetsLn 32$1.4M
Months of cash on handcomputed1.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.4M · Operating expenses/yr $108K
158.0 months
Where the money goes
Program services
Program services $72K · Total expenses $108K
67%
Management & General
Management & general $33K · Total expenses $108K
31%
Fundraising
Fundraising $3K · Total expenses $108K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $3K · Solicited contributions (3-yr avg) $56K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $85K · Total revenue $151K
56%
Government reliance
Government grants — · Total revenue $151K
—
Earned-income share
Program service revenue $0 · Total revenue $151K
0%
Investment reliance
Investment income $66K · Total revenue $151K
+44%
Program self-sufficiency
Program service revenue $0 · Total expenses $108K
0%
Growth & trend
Revenue growth (YoY)
This year $151K · Prior year $88K
+71%
Revenue CAGR
FY2020 $97K · FY2024 $151K
+12%
Net-asset trend (YoY)
End of year $1.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $151K · Expenses $108K
+28%
Liabilities-to-Assets
Total liabilities — · Total assets $1.4M
—
Net-asset ratio
Net assets $1.4M · Total assets $1.4M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.4M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.4M
99%
People & payroll
Highest Reported Total Compensation
Individual Gail Jolley · Reported title Executive Director · Highest reported compensation $30K · Total expenses $108K
28%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $80K · Total expenses $108K
74%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 67%——
Overhead ratio 31%——
Fundraising cost ratio 3%——
Revenue growth 71%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$151K revenue · viewing · ⤓ 990 PDF
FY2023$88K revenue · ⤓ 990 PDF
FY2022$107K revenue · ⤓ 990 PDF
FY2021$125K revenue · ⤓ 990 PDF
FY2020$97K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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