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Jose Valdes Math Foundation FY2022 filing

Tax-deductible

San Jose, CA501(c)(3)EducationEIN 26-0825700Revenue $494K in FY2022

On file with the IRSjosevaldesmath.org25 N 14th St Ste 900, 95112-6216 · San Jose, CATax-exempt since Nov 2007Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Jose Valdes Math Institute is to provide comprehensive math education to middle school and high school students particularly the math under-represented within our community.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
3 of 5
filings with a surplus
Average surplus $16K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $116K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$29K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$494K
+0.7% vs prior year
Spent
$415K
To programs
74%
Net assets
$215K
By yearFY2020–FY2024
Revenue
$494K
FY2022▲ +0.7%
Tap a bar for its year
Revenue by fiscal year
FY2020$445K
FY2021$490K
FY2022$494K
FY2023$688K
FY2024$463K
Expenses
$415K
FY2022▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$321K
FY2021$409K
FY2022$415K
FY2023$719K
FY2024$634K
Net assets
$215K
FY2022▲ +50%
Tap a bar for its year
Net assets by fiscal year
FY2020$63K
FY2021$144K
FY2022$215K
FY2023$185K
FY2024$13K

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 2007.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $305K Management & general 26% · $106K Fundraising 1% · $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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Cheryl Lawton
Vice President
$0Pt VII · Sec A
Kate Valdes
Board Member
$0Pt VII · Sec A
Marisa Gaska
Board Member
$0Pt VII · Sec A
Maria a Bravo
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
James Prietto
Board Member
$0Pt VII · Sec A
Jose Castellon
Board Member
$0Pt VII · Sec A

Robert Escobar’s $105K as Executive Director is at the 86th 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.

See Jose Valdes Math Foundation 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

Teaches math to middle and high school students, especially those under-represented in the community.

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Provided by the organization

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1 program · $305K · in their own filed words · FY2022
01

Expenses associated with program services represent cost of the institute, tutoring cost and teacher training.

$305Kprogram 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 · FY2024
Silicon Valley Social Venture Fund - Sv2FY2024$90K
The Leo M Shortino FoundationFY2024$26K
Total grants receivedfrom 2 funders$116K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$494K
Ln 12
Fees for servicesLn 2g$493K
Investment incomeLn 3$240
Money outPt IX
$415K
Ln 25
Programscol B$305K
Managementcol C$106K
Fundraisingcol D$3K
Owns and owesPt X
$215K
net assets · Ln 32
Cash and savingsLn 1–2$196K
Total assetsLn 16$244K
LiabilitiesLn 26$29K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$493K
Investment incomeLn 3$240
Total revenueLn 12$494K
Assets in detailPt X, end of year
CashLn 1$196K
Cash and savings togetherLn 1–2$196K
Total assetsLn 16$244K
LiabilitiesLn 26$29K
Net assetsLn 32$215K
OperationsPt I, VI
EmployeesI 528
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$143K$196K
Total assetsLn 16$144K$244K
LiabilitiesLn 26$8K$29K
Net assetsLn 32$137K$215K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$145K$95K$50K
Payroll taxesLn 10$11K$7K$4K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$6K$0$6K
Professional fundraising feesLn 11e$3K$3K
Other fees for servicesLn 11g$14K$0$14K
Office expensesLn 13$7K$0$7K
OccupancyLn 16$14K$0$14K
Depreciation, depletion and amortizationLn 22$0$0
Other expenses (24a–d)Ln 24$212K$203K$9K$0
Total functional expensesLn 25$415K$305K$106K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $463K$634K−$171K$13K 990 PDF
FY2023 $688K$719K−$31K$185K 990 PDF
FY2022 Viewing $494K$415K$79K$215K 990 PDF
FY2021 $490K$409K$81K$144K 990 PDF
FY2020 $445K$321K$124K$63K 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 $493,540 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $489,855$493,300
I-10 Investment incomePrior year $194$240
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $490,049$493,540
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $148,074$155,844
I-16a Professional fundraising feesPrior year $0$3,427
I-17 Other expensesPrior year $261,117$255,386
I-18 Total expensesPrior year $409,191$414,657
I-19 Revenue less expensesPrior year $80,858$78,883
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $493,540 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $493,300 · Unrelated business $0 · Excluded from tax $0$493,300
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $240 · Excluded from tax $0$240
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $493,300 · Unrelated business $240 · Excluded from tax $0$493,540
Part IX · Statement of functional expenses $414,657 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $94,896 · Management $49,998$144,894
IX-10 Payroll taxesPrograms $7,125 · Management $3,825$10,950
IX-11b Legal feesManagement $1,110$1,110
IX-11c Accounting feesPrograms $0 · Management $6,405$6,405
IX-11e Professional fundraising feesFundraising $3,427$3,427
IX-11g Other fees for servicesPrograms $0 · Management $14,077$14,077
IX-13 Office expensesPrograms $0 · Management $7,377$7,377
IX-16 OccupancyPrograms $0 · Management $14,392$14,392
IX-22 Depreciation, depletion and amortizationPrograms $0$0
IX-24 Other expenses (24a–d)Programs $203,180 · Management $8,845 · Fundraising $0$212,025
IX-25 Total functional expensesPrograms $305,201 · Management $106,029 · Fundraising $3,427$414,657
Part X · Balance sheet $244,244 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $142,808$196,252
X-4 Accounts receivableStart of year $1,242$28,000
X-9 Prepaid expenses and deferred charges$19,992
X-16 Total assetsStart of year $144,050$244,244
X-17 Accounts payable and accrued expensesStart of year $7,514$19,996
X-25 Other liabilities$8,829
X-26 Total liabilitiesStart of year $7,514$28,825
X-27 Net assets without donor restrictionsStart of year $136,536$215,419
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $136,536$215,419
X-33 Total liabilities and net assetsStart of year $144,050$244,244
Part XI · Reconciliation of net assets $215,419 net assets at year end
XI-1 Total revenue$493,540
XI-2 Total expenses$414,657
XI-3 Revenue less expenses$78,883
XI-4 Net assets at start of year$136,536
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$215,419

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

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