Formative Foundation FY2024 filing
Supports transformative STEAM educational experiences for all ages. For fiscal year 2024 it reported $831K in revenue, $853K in expenses, and $4.6M in net assets.Pt I
- Founded
- 2007
- Type
- Public charity (501(c)(3)) · Education
- Location
- Goleta, CA
- Website
- www.dpeaf.org
- Filings
- 5 on file (2020–2024)
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Summary of the Filing
Where the work happens
To support the dpea by providing financial resources, long term direction, and enabling systems and structures. Continuing costs are incurred ongoing to upgrade and maintain the facility and equipment and to pay instructor's salaries pursuant to the memorandum of understanding between the foundation and the school district.
Mechatronics Program
The new capstone project for senior year students. This project involves the comprehensive design, prototyping, fabrication and exhibition of a museum-quality kinetic exhibit.
Steam Museum
The foundation and the santa barbara unified school district are collaborating on improving and expanding the academy facilities through the addition of a new state-of-the-art career technical education pavilion facility that will support the product innovation and design and media arts pathways at DPHS.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Gary Simpson’s $102K as CEO is at the 85th percentile of top reported officer pay among 1615 $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 · 1 named individual · Part VII
| Name | FY2024 | FY2024 | FY2023 |
|---|---|---|---|
| Gary Simpson | $101,604 | $100,000 | $60,558 |
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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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 72% | — | — |
| Overhead ratio | 10% | — | — |
| Fundraising cost ratio | 24% | — | — |
| Revenue growth | 29% | — | — |
| Legal fee ratio | 0.6% | — | — |
| Accounting fee ratio | 0.5% | — | — |
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.
Grants
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Filings & Schedule Manifest
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Sources
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