The Eagle Academy Foundation INC FY2022 filing

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The Eagle Academy Foundation challenges systemic barriers, thereby empowering young men of color to achieve their desired educational, career and life outcomes. We deliver strategic direct-impact work and advance institutional change toward equity.The Foundation supports its: (1) Network of Eagle Academy Public Schools in New York City and Newark, New Jersey; and (2) Professional Development Institute

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$1.1M 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $523K a year · 12% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 34% of spending
Concern: pay to officers and key staff is 34% of spending; over 30%.
Pt VII · Sec A
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$463K
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.1M
-1% vs prior year
Spent
$3.3M
To programs
80%
Net assets
$2.0M
By yearFY2020–FY2025
Revenue
$4.1M
FY2022▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.9M
FY2021$4.2M
FY2022$4.1M
FY2023$4.7M
FY2024$5.7M
FY2025$4.9M
Expenses
$3.3M
FY2022▼ -17%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.1M
FY2021$4.0M
FY2022$3.3M
FY2023$3.5M
FY2024$3.8M
FY2025$4.6M
Net assets
$2.0M
FY2022▲ +71%
Tap a bar for its year
Net assets by fiscal year
FY2020$965K
FY2021$1.2M
FY2022$2.0M
FY2023$3.2M
FY2024$5.1M
FY2025$5.4M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2005.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $2.6M Management & general 12% · $384K Fundraising 8% · $266K

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

21 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President/CEO
$258,948Pt VII · Sec A
$174,141Pt VII · Sec A
Chief Acad Officer
$163,643Pt VII · Sec A
Chief Innov. Ofc.
$155,648Pt VII · Sec A
Int. Pres.& CEO
$147,661Pt VII · Sec A
Dir Strat Ptr&ment
$116,940Pt VII · Sec A
Interim COO
$102,000Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
David C Banks———$258,948$254,874$292,548
Donald Ruff$250,672$247,091$238,230$147,661$127,177$132,885
Elizabeth Almonte———$155,648$101,806$208,723
Kenita D Lloyd———$174,141$172,781$114,413
Jawana Johnson———$163,643$161,036$169,406
Kima Reed$148,750$146,250$123,750$102,000——
Aaron Barnette———$116,940$105,361$110,453
Schaunte M Collins—————$115,381

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 The Eagle Academy Foundation INC executive salaries →

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 15aYes

Programs and updates

Provides resources and support to help people achieve their goals.

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3 programs · $2.0M · in their own filed words · FY2021
01

College PreparationThrough a comprehensive and systematic approach for college readiness, EAF reinforces the message and expectation that all scholars have a post-secondary plan including the goal of college entrance.College preparation starts early, with college awareness beginning at the 6th grade, multiple visits to and tours of…

$798Kprogram expense
02

Eagle InstituteWith the goal of improving the academic and life trajectories of young men of color, EAF operates the Eagle Institute to broaden the reach of Eagles proven model, beyond its Eagle Academies.

$731Kprogram expense
03

Extended Learning OpportunitiesDuring time out of school, after school, on weekends, school breaks, and during summer, EAF provides Eagle scholars with academic and co-curricular enrichments including tutoring, Regents and SAT test preparation, sports and physical activities, arts, science, clubs and opportunities for mentoring…

$424Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$15K
Grants paid · 3 grants · $154K · 2020–2024
Unitemized GrantFY2024$133,700
Unitemized GrantFY2020$10,000
Eagle Academy for Young MenFY2020$9,999

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$4.1M
Ln 12
Gifts and grantsLn 1h$3.8M
Fees for servicesLn 2g$276K
Other incomeLn 4–11$32K
Money outPt IX
$3.3M
Ln 25
Programscol B$2.6M
Managementcol C$384K
Fundraisingcol D$266K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$528K
Total assetsLn 16$2.4M
LiabilitiesLn 26$463K
PeoplePt VI, VII
21
listed · VII A
PaidVII A7
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.8M
Government grantsLn 1e$2.0M
Noncash giftsLn 1g$137K
Fees for servicesLn 2g$276K
Investment incomeLn 3$25K
Other incomeLn 4–11$32K
Gains on assetsLn 7$24K
Total revenueLn 12$4.1M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$528K
Cash and savings togetherLn 1–2$528K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$14K
Other assetsLn 15$35K
Total assetsLn 16$2.4M
LiabilitiesLn 26$463K
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 527
VolunteersI 6100
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$137K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$612K$528K
InvestmentsLn 11–13$100K$0
Land, buildings, equipmentLn 10c$13K$14K
Total assetsLn 16$1.7M$2.4M
LiabilitiesLn 26$553K$463K
Net assetsLn 32$1.2M$2.0M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1K$1K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$810K$668K$87K$55K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$634K$521K$69K$44K
Pension plan contributionsLn 8$975$975
Other employee benefitsLn 9$87K$71K$9K$6K
Payroll taxesLn 10$103K$85K$11K$7K
Management feesLn 11a$68K$68K
Legal feesLn 11b$0
Accounting feesLn 11c$23K$19K$2K$2K
Lobbying feesLn 11d$10K$10K
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$923K$685K$107K$131K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$98K$78K$19K$1K
Information technologyLn 14$127K$107K$9K$11K
RoyaltiesLn 15$0
OccupancyLn 16$126K$103K$14K$9K
TravelLn 17$90K$76K$14K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$37K$10K$26K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$3K$1K$2K
InsuranceLn 23$6K$5K$609$387
Other expenses (24a–d)Ln 24$145K$144K$904
All other expensesLn 24e$0
Total functional expensesLn 25$3.3M$2.6M$384K$266K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $4.9M$4.6M$272K$5.4M 990 PDF
FY2024Filed with the IRS May 13, 2025 $5.7M$3.8M$1.9M$5.1M 990 PDF
FY2023Filed with the IRS May 15, 2024 $4.7M$3.5M$1.2M$3.2M 990 PDF
FY2022 ViewingFiled with the IRS May 15, 2023 $4.1M$3.3M$824K$2.0M 990 PDF
FY2021Filed with the IRS May 12, 2022 $4.2M$4.0M$175K$1.2M 990 PDF
FY2020Filed with the IRS May 17, 2021 $2.9M$4.1M−$1.3M$965K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $4,116,740 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,204,391$3,784,037
I-9 Program service revenuePrior year $959,257$276,000
I-10 Investment incomePrior year $551$24,887
I-11 Other revenue$31,816
I-12 Total revenuePrior year $4,164,199$4,116,740
I-13 Grants and similar amounts paidPrior year $27,999$1,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,919,204$1,634,749
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,041,690$1,656,885
I-18 Total expensesPrior year $3,988,893$3,292,634
I-19 Revenue less expensesPrior year $175,306$824,106
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,116,740 across 12 lines filed
VIII-1e Government grants$2,044,274
VIII-1f All other contributions, gifts and grants$1,739,763
VIII-1g Noncash contributions (included above)$137,195
VIII-1h Total contributions, gifts and grants$3,784,037
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $276,000$276,000
VIII-3 Investment incomeExcluded from tax $436$436
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $24,451$24,451
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $31,816$31,816
VIII-12 Total revenueRelated to mission $307,816 · Excluded from tax $24,887$4,116,740
Part IX · Statement of functional expenses $3,292,634 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $1,000$1,000
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $667,534 · Management $87,009 · Fundraising $55,210$809,753
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $521,355 · Management $69,039 · Fundraising $43,871$634,265
IX-8 Pension plan contributionsManagement $975$975
IX-9 Other employee benefitsPrograms $71,437 · Management $9,461 · Fundraising $6,009$86,907
IX-10 Payroll taxesPrograms $84,541 · Management $11,198 · Fundraising $7,110$102,849
IX-11a Management feesPrograms $67,500$67,500
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $19,089 · Management $2,285 · Fundraising $1,605$22,979
IX-11d Lobbying feesManagement $10,000$10,000
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $685,191 · Management $106,909 · Fundraising $130,836$922,936
IX-12 Advertising and promotionManagement $1,925$1,925
IX-13 Office expensesPrograms $78,290 · Management $18,662 · Fundraising $1,277$98,229
IX-14 Information technologyPrograms $107,419 · Management $8,882 · Fundraising $10,637$126,938
IX-15 Royalties$0
IX-16 OccupancyPrograms $103,276 · Management $13,679 · Fundraising $8,686$125,641
IX-17 TravelPrograms $76,157 · Management $13,930$90,087
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $10,244 · Management $26,322$36,566
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $1,039 · Management $2,094$3,133
IX-23 InsurancePrograms $4,598 · Management $609 · Fundraising $387$5,594
IX-24 Other expenses (24a–d)Programs $144,453 · Management $904$145,357
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $2,643,123 · Management $383,883 · Fundraising $265,628$3,292,634
Part X · Balance sheet $2,434,762 assets, 20 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $611,891$527,649
X-3 Pledges and grants receivableStart of year $913,822$1,833,500
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $24,542$24,083
X-10c Land, buildings and equipment, netStart of year $12,943$14,077
X-11 Publicly traded securitiesStart of year $100,117$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $40,059$35,453
X-16 Total assetsStart of year $1,703,374$2,434,762
X-17 Accounts payable and accrued expensesStart of year $279,793$262,766
X-24 Unsecured notes and loans payableStart of year $273,280$200,000
X-26 Total liabilitiesStart of year $553,073$462,766
X-27 Net assets without donor restrictionsStart of year $978,868$1,526,298
X-28 Net assets with donor restrictionsStart of year $171,433$445,698
X-32 Total net assets or fund balancesStart of year $1,150,301$1,971,996
X-33 Total liabilities and net assetsStart of year $1,703,374$2,434,762
Part XI · Reconciliation of net assets $1,971,996 net assets at year end
XI-1 Total revenue$4,116,740
XI-2 Total expenses$3,292,634
XI-3 Revenue less expenses$824,106
XI-4 Net assets at start of year$1,150,301
XI-5 Net unrealized gains (losses) on investments−$2,411
XI-10 Net assets at end of year$1,971,996

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

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