School for Esoteric Studies INC FY2022 filing

Tax-deductible

Asheville, NC501(c)(3)EducationEIN 13-1832805Revenue $107K in FY2022

On file with the IRSesotericstudies.net899 Haywood Rd Ste B, 28806-3163 · Asheville, NCTax-exempt since Nov 1958School — 170(b)(1)(A)(ii)

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To train people in the Ageless Wisdom teachings and practice.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
$40K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $7K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$40K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$206
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$107K
-14% vs prior year
Spent
$109K
To programs
66%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$107K
FY2022▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$97K
FY2021$125K
FY2022$107K
FY2023$88K
FY2024$151K
Expenses
$109K
FY2022▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$102K
FY2021$108K
FY2022$109K
FY2023$107K
FY2024$108K
Net assets
$1.2M
FY2022▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.2M
FY2023$1.3M
FY2024$1.4M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1958.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $72K Management & general 32% · $34K Fundraising 2% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $40K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$30,090Pt VII · Sec A
$10,000Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$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.

See School for Esoteric Studies INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Trains people in Ageless Wisdom teachings and practices.

Provided by the organization

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3 programs · $72K · in their own filed words · FY2022
01

Education

We provided lesson materials and instruction for correspondence courses on the Ageless Wisdom for 162 members, which includes 17 new students. We received 119 requests for application 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. These letters include information and links of interest to our membership, including support for the United Nations, support for ending climate change, and a special group…

Pt IX · col B
03

Student Services

435 members receive our yearly conference set, which is a document composed of study excerpts on a particular subject, three original conference talks and a conference report...54 students received lesson sets and individual commentaries on their work in three languages.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$107K
Ln 12
Investment incomeLn 3$62K
Gifts and grantsLn 1h$46K
Money outPt IX
$109K
Ln 25
Programscol B$72K
Managementcol C$34K
Fundraisingcol D$3K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$1.2M
LiabilitiesLn 26$206
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$46K
Investment incomeLn 3$62K
Total revenueLn 12$107K
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
InvestmentsLn 11–13$1.2M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.2M
LiabilitiesLn 26$206
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 52
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$36K$23K
InvestmentsLn 11–13$1.5M$1.2M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.5M$1.2M
LiabilitiesLn 26$0$206
Net assetsLn 32$1.5M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$30K$20K$9K$903
Other salaries and wagesLn 7$44K$30K$13K$1K
Payroll taxesLn 10$6K$4K$2K$170
Accounting feesLn 11c$785$0$785$0
Investment management feesLn 11f$2K$0$2K$0
Other fees for servicesLn 11g$11K$10K$618$0
Office expensesLn 13$3K$913$2K$22
Information technologyLn 14$2K$935$1K$24
OccupancyLn 16$9K$6K$4K$93
InsuranceLn 23$2K$341$1K$16
Other expenses (24a–d)Ln 24$53$0$53$0
Total functional expensesLn 25$109K$72K$34K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $151K$108K$43K$1.4M 990 PDF
FY2023 $88K$107K−$19K$1.3M 990 PDF
FY2022 Viewing $107K$109K−$2K$1.2M 990 PDF
FY2021 $125K$108K$18K$1.5M 990 PDF
FY2020 $97K$102K−$5K$1.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $107,302 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $41,049$45,603
I-9 Program service revenue$0
I-10 Investment incomePrior year $84,058$61,699
I-11 Other revenue$0
I-12 Total revenuePrior year $125,107$107,302
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $79,870$79,870
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $27,651$29,043
I-18 Total expensesPrior year $107,521$108,913
I-19 Revenue less expensesPrior year $17,586−$1,611
Part VI · Governance 4 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $107,302 across 4 lines filed
VIII-1f All other contributions, gifts and grants$45,603
VIII-1h Total contributions, gifts and grants$45,603
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $61,699$61,699
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $61,699$107,302
Part IX · Statement of functional expenses $108,913 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $20,461 · Management $8,726 · Fundraising $903$30,090
IX-7 Other salaries and wagesPrograms $29,991 · Management $12,790 · Fundraising $1,323$44,104
IX-10 Payroll taxesPrograms $3,860 · Management $1,646 · Fundraising $170$5,676
IX-11c Accounting feesPrograms $0 · Management $785 · Fundraising $0$785
IX-11f Investment management feesPrograms $0 · Management $1,719 · Fundraising $0$1,719
IX-11g Other fees for servicesPrograms $10,000 · Management $618 · Fundraising $0$10,618
IX-13 Office expensesPrograms $913 · Management $1,661 · Fundraising $22$2,596
IX-14 Information technologyPrograms $935 · Management $1,439 · Fundraising $24$2,398
IX-16 OccupancyPrograms $5,500 · Management $3,729 · Fundraising $93$9,322
IX-23 InsurancePrograms $341 · Management $1,195 · Fundraising $16$1,552
IX-24 Other expenses (24a–d)Programs $0 · Management $53 · Fundraising $0$53
IX-25 Total functional expensesPrograms $72,001 · Management $34,361 · Fundraising $2,551$108,913
Part X · Balance sheet $1,217,849 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $35,903$22,684
X-4 Accounts receivableStart of year $816$930
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $1,465,770$1,194,235
X-16 Total assetsStart of year $1,502,489$1,217,849
X-17 Accounts payable and accrued expensesStart of year $0$206
X-26 Total liabilitiesStart of year $0$206
X-27 Net assets without donor restrictionsStart of year $1,502,489$1,217,643
X-32 Total net assets or fund balancesStart of year $1,502,489$1,217,643
X-33 Total liabilities and net assetsStart of year $1,502,489$1,217,849
Part XI · Reconciliation of net assets $1,217,643 net assets at year end
XI-1 Total revenue$107,302
XI-2 Total expenses$108,913
XI-3 Revenue less expenses−$1,611
XI-4 Net assets at start of year$1,502,489
XI-5 Net unrealized gains (losses) on investments−$283,235
XI-10 Net assets at end of year$1,217,643

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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