Adopt a Class Foundation INC FY2024 filing

Tax-deductible

Cincinnati, OH501(c)(3)Since 2005EducationEIN 20-2587299

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Adopt A Class connects businesses, government, and civic partners with students from underserved communities. By pairing teams with individual classrooms, our adult mentors provide students exposure to a breadth of life and career experiences to increase their knowledge of career opportunities and expand their horizons with clearer self-vision. Continued on Schedule O.

501(c)(3) charity; gifts are tax-deductible.
58¢ of each $1 spent went to programs.
$121K 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

FY2024 · 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
4 of 4
filings with a surplus
Average surplus $86K a year · 12% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
58%
of spending
Worth a look: 58% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$121K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $15K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$85K
11% of total assets
Looks good: liabilities are 11% 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
$1.4M
+111% vs prior year
Spent
$1.1M
To programs
58%
Net assets
$713K
By yearFY2021–FY2024
Revenue
$1.4M
FY2024▲ +111%
Revenue by fiscal year
FY2021$374K
FY2022$425K
FY2023$662K
FY2024$1.4M
FY2024$1.2M
Expenses
$1.1M
FY2024▲ +84%
Expenses by fiscal year
FY2021$352K
FY2022$386K
FY2023$623K
FY2024$1.1M
FY2024$1.3M
Net assets
$713K
FY2024▲ +52%
Net assets by fiscal year
FY2021$391K
FY2022$430K
FY2023$468K
FY2024$713K
FY2024$577K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2006.

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

Where the money goes

58 cents of each dollar spent went to programs.

Program services 58% · $663K Management & general 23% · $259K Fundraising 20% · $225K

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

17 people listed on the 990; $121K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$120,921Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary (left 8/23)
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Sonya Fultz’s $137K as Executive Director is at the 57th percentile of top reported officer pay among 3394 $1–10M 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

NameFY2024FY2024FY2023FY2022FY2021
Sonya Fultz$136,960$120,921$108,863$102,088$76,148
Julie Shifman————$16,066

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 Adopt a Class Foundation 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 15aYes

Programs and updates

Connects business professionals with young students as positive role models.

Provided by the organization

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1 program · $663K · in their own filed words · FY2023
01

Donated funds were used to develop and implement programming that connects businesses and civic groups with students to inspire a corporate culture of teamwork and philanthropy and a hope and a future vision of what is possible for the youth in our community.

$663Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 2 funders$15K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$12K
Money outPt IX
$1.1M
Ln 25
Programscol B$663K
Managementcol C$259K
Fundraisingcol D$225K
Owns and owesPt X
$713K
net assets · Ln 32
Cash and savingsLn 1–2$443K
Total assetsLn 16$799K
LiabilitiesLn 26$85K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$259K
Fundraising eventsLn 1c$154K
Investment incomeLn 3$12K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$164K
SavingsLn 2$279K
Cash and savings togetherLn 1–2$443K
Total assetsLn 16$799K
LiabilitiesLn 26$85K
Net assetsLn 32$713K
OperationsPt I, VI
EmployeesI 517
VolunteersI 64,800
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$470K$443K
Total assetsLn 16$473K$799K
LiabilitiesLn 26$5K$85K
Net assetsLn 32$468K$713K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$140K$116K$13K$11K
Other salaries and wagesLn 7$611K$305K$153K$153K
Other employee benefitsLn 9$86K$43K$21K$21K
Payroll taxesLn 10$51K$25K$13K$13K
Accounting feesLn 11c$8K$0$8K$0
Other fees for servicesLn 11g$27K$2K$23K$1K
Office expensesLn 13$20K$9K$4K$7K
Information technologyLn 14$36K$19K$8K$8K
OccupancyLn 16$26K$13K$6K$6K
TravelLn 17$74K$71K$2K$1K
InsuranceLn 23$2K$1K$533$533
Other expenses (24a–d)Ln 24$65K$56K$7K$2K
All other expensesLn 24e$3K$2K$498$0
Total functional expensesLn 25$1.1M$663K$259K$225K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $1.4M$1.1M$245K$713K 990 PDF
FY2023 $662K$623K$38K$468K 990 PDF
FY2022 $425K$386K$39K$430K 990 PDF
FY2021 $374K$352K$22K$391K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,392,660 across 8 lines filed
VIII-1c Fundraising events$154,068
VIII-1e Government grants$258,736
VIII-1f All other contributions, gifts and grants$1,029,964
VIII-1h Total contributions, gifts and grants$1,442,768
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $12,423$12,423
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$62,725−$62,725
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $194 · Unrelated business $0 · Excluded from tax $0$194
VIII-12 Total revenueRelated to mission $194 · Unrelated business $0 · Excluded from tax −$50,302$1,392,660
Part IX · Statement of functional expenses $1,147,257 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $116,420 · Management $12,691 · Fundraising $11,216$140,327
IX-7 Other salaries and wagesPrograms $305,291 · Management $152,645 · Fundraising $152,646$610,582
IX-9 Other employee benefitsPrograms $42,817 · Management $21,409 · Fundraising $21,408$85,634
IX-10 Payroll taxesPrograms $25,422 · Management $12,711 · Fundraising $12,711$50,844
IX-11c Accounting feesPrograms $0 · Management $7,875 · Fundraising $0$7,875
IX-11g Other fees for servicesPrograms $2,127 · Management $23,325 · Fundraising $1,064$26,516
IX-13 Office expensesPrograms $8,529 · Management $4,264 · Fundraising $7,395$20,188
IX-14 Information technologyPrograms $19,260 · Management $8,423 · Fundraising $8,423$36,106
IX-16 OccupancyPrograms $12,833 · Management $6,417 · Fundraising $6,417$25,667
IX-17 TravelPrograms $71,002 · Management $1,910 · Fundraising $1,016$73,928
IX-23 InsurancePrograms $1,065 · Management $533 · Fundraising $533$2,131
IX-24 Other expenses (24a–d)Programs $56,091 · Management $6,527 · Fundraising $2,256$64,874
IX-24e All other expensesPrograms $2,087 · Management $498 · Fundraising $0$2,585
IX-25 Total functional expensesPrograms $662,944 · Management $259,228 · Fundraising $225,085$1,147,257
Part X · Balance sheet $798,738 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $35,938$163,769
X-2 Savings and temporary cash investmentsStart of year $434,242$279,077
X-3 Pledges and grants receivableStart of year $2,500$351,396
X-4 Accounts receivableStart of year $360$4,496
X-16 Total assetsStart of year $473,040$798,738
X-17 Accounts payable and accrued expensesStart of year $5,185$85,480
X-26 Total liabilitiesStart of year $5,185$85,480
X-27 Net assets without donor restrictionsStart of year $346,485$330,258
X-28 Net assets with donor restrictionsStart of year $121,370$383,000
X-32 Total net assets or fund balancesStart of year $467,855$713,258
X-33 Total liabilities and net assetsStart of year $473,040$798,738
Part XI · Reconciliation of net assets $713,258 net assets at year end
XI-1 Total revenue$1,392,660
XI-2 Total expenses$1,147,257
XI-3 Revenue less expenses$245,403
XI-4 Net assets at start of year$467,855
XI-10 Net assets at end of year$713,258

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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