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Highlights Foundation INC FY2023 filing

Tax-deductible

Milanville, PA501(c)(3)Since 1987 EIN 31-1203417Revenue $2.1M in FY2023

On file with the IRSboydsmills.org392 Boyds Mills Rd, 18443-3024 · Milanville, PATax-exempt since Oct 1987Publicly supported — 509(a)(2)

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Positively impact children by amplifying the voices of storytellers who inform, educate, and inspire children to become their best selves. Boyds mills hosts workshops and retreats, both at its retreat center in northeast PA, and online, that encourage and nurture storytellers and illustrators who create books for children. Provides scholarships to ease the financial costs.

501(c)(3) charity; gifts are tax-deductible.
85¢ 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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FY2023 · 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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $72K a year · 3% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Plus $4.3M in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$530K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+31% vs prior year
Spent
$2.2M
To programs
85%
Net assets
$5.7M
By yearFY2021–FY2026
Revenue
$2.1M
FY2023▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.6M
FY2022$1.6M
FY2023$2.1M
FY2024$2.1M
FY2025$2.6M
FY2026$2.6M
Expenses
$2.2M
FY2023▲ +45%
Tap a bar for its year
Expenses by fiscal year
FY2021$959K
FY2022$1.5M
FY2023$2.2M
FY2024$2.3M
FY2025$2.5M
FY2026$2.7M
Net assets
$5.7M
FY2023▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2021$6.1M
FY2022$6.3M
FY2023$5.7M
FY2024$6.2M
FY2025$6.4M
FY2026$6.8M

From the FY2023 Form 990 (year ending February 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Oct 1987.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $1.9M Management & general 10% · $210K Fundraising 5% · $118K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
George Brown
Executive Director
$0Pt VII · Sec A
Willa Perlman
Chairperson
$0Pt VII · Sec A
Christine Cully
Vice President
$0Pt VII · Sec A
Dwight Smith
Treasurer
$0Pt VII · Sec A
Diana Falvo
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Highlights 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

Amplifies storytellers' voices to inspire children and help them become their best selves.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2022
01

The highlights foundation positively impacts children by amplifying the voices of storytellers who inform, educate, and inspire children to become their best SELVES.WE do not take lightly what it means to create engaging, authentic stories for children and youth.

$1.9Mprogram 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
Beyond WordsFY2025$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 7 grants · $439K · 2020–2025
Unitemized GrantFY2025$78,849
The Milkwood FundFY2025$25,051
Unitemized GrantFY2024$139,030
Unitemized GrantFY2023$64,637
Unitemized GrantFY2022$86,119
Unitemized GrantFY2021$21,772
Unitemized GrantFY2020$23,863

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$1.3M
Gifts and grantsLn 1h$681K
Investment incomeLn 3$88K
Money outPt IX
$2.2M
Ln 25
Programscol B$1.9M
Managementcol C$210K
Fundraisingcol D$118K
Owns and owesPt X
$5.7M
net assets · Ln 32
Cash and savingsLn 1–2$320K
Total assetsLn 16$6.3M
LiabilitiesLn 26$530K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$681K
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$88K
Other incomeLn 4–11$7K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$320K
Cash and savings togetherLn 1–2$320K
InvestmentsLn 11–13$4.3M
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$6.3M
LiabilitiesLn 26$530K
Net assetsLn 32$5.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderFebruary
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$423K$320K
InvestmentsLn 11–13$4.9M$4.3M
Land, buildings, equipmentLn 10c$1.5M$1.5M
Total assetsLn 16$6.8M$6.3M
LiabilitiesLn 26$480K$530K
Net assetsLn 32$6.3M$5.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$86K$86K
Pay of current officers, directors and key staffLn 5$111K$86K$12K$12K
Other salaries and wagesLn 7$888K$756K$66K$66K
Other employee benefitsLn 9$157K$133K$12K$12K
Accounting feesLn 11c$41K$41K
Investment management feesLn 11f$17K$17K
Other fees for servicesLn 11g$152K$152K
Advertising and promotionLn 12$60K$55K$5K
Office expensesLn 13$62K$41K$10K$12K
OccupancyLn 16$155K$146K$7K$2K
TravelLn 17$105K$84K$21K
Depreciation, depletion and amortizationLn 22$88K$78K$10K
InsuranceLn 23$12K$8K$4K
Other expenses (24a–d)Ln 24$260K$239K$10K$10K
Total functional expensesLn 25$2.2M$1.9M$210K$118K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $2.6M$2.7M−$19K$6.8M 990 PDF
FY2025 $2.6M$2.5M$28K$6.4M 990 PDF
FY2024 $2.1M$2.3M−$154K$6.2M 990 PDF
FY2023 Viewing $2.1M$2.2M−$131K$5.7M 990 PDF
FY2022 $1.6M$1.5M$64K$6.3M 990 PDF
FY2021 $1.6M$959K$643K$6.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,062,404 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $451,913$680,526
I-9 Program service revenuePrior year $917,749$1,287,340
I-10 Investment incomePrior year $190,520$87,973
I-11 Other revenuePrior year $16,843$6,565
I-12 Total revenuePrior year $1,577,025$2,062,404
I-13 Grants and similar amounts paidPrior year $21,772$86,119
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $750,135$1,154,891
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $740,819$951,924
I-18 Total expensesPrior year $1,512,726$2,192,934
I-19 Revenue less expensesPrior year $64,299−$130,530
Part VI · Governance 6 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,062,404 across 7 lines filed
Lines not itemized here account for $1,393 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$680,526
VIII-1h Total contributions, gifts and grants$680,526
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,280,175 · Unrelated business $7,165$1,287,340
VIII-3 Investment incomeExcluded from tax $87,973$87,973
VIII-6 Net rental income or lossExcluded from tax $158$158
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,014$5,014
VIII-12 Total revenueRelated to mission $1,286,582 · Unrelated business $7,165 · Excluded from tax $88,131$2,062,404
Part IX · Statement of functional expenses $2,192,934 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $86,119$86,119
IX-5 Pay of current officers, directors and key staffPrograms $86,302 · Management $12,171 · Fundraising $12,171$110,644
IX-7 Other salaries and wagesPrograms $756,377 · Management $65,617 · Fundraising $65,617$887,611
IX-9 Other employee benefitsPrograms $133,478 · Management $11,579 · Fundraising $11,579$156,636
IX-11c Accounting feesManagement $40,846$40,846
IX-11f Investment management feesManagement $17,275$17,275
IX-11g Other fees for servicesPrograms $152,473$152,473
IX-12 Advertising and promotionPrograms $55,226 · Fundraising $4,601$59,827
IX-13 Office expensesPrograms $40,908 · Management $9,563 · Fundraising $11,778$62,249
IX-16 OccupancyPrograms $145,568 · Management $7,153 · Fundraising $2,145$154,866
IX-17 TravelPrograms $83,942 · Management $20,985$104,927
IX-22 Depreciation, depletion and amortizationPrograms $77,602 · Management $10,382$87,984
IX-23 InsurancePrograms $7,831 · Management $4,089$11,920
IX-24 Other expenses (24a–d)Programs $239,497 · Management $10,030 · Fundraising $10,030$259,557
IX-25 Total functional expensesPrograms $1,865,323 · Management $209,690 · Fundraising $117,921$2,192,934
Part X · Balance sheet $6,250,809 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $422,955$319,771
X-3 Pledges and grants receivable$75,000
X-4 Accounts receivable$6,377
X-9 Prepaid expenses and deferred chargesStart of year $3,829$15,069
X-10c Land, buildings and equipment, netStart of year $1,488,369$1,520,220
X-11 Publicly traded securitiesStart of year $3,969,837$3,530,999
X-12 Other securitiesStart of year $892,632$783,373
X-16 Total assetsStart of year $6,777,622$6,250,809
X-17 Accounts payable and accrued expensesStart of year $62,796$46,339
X-19 Deferred revenueStart of year $240,224$242,275
X-24 Unsecured notes and loans payable$27,097
X-25 Other liabilitiesStart of year $177,245$214,066
X-26 Total liabilitiesStart of year $480,265$529,777
X-27 Net assets without donor restrictionsStart of year $6,129,934$5,307,312
X-28 Net assets with donor restrictionsStart of year $167,423$413,720
X-32 Total net assets or fund balancesStart of year $6,297,357$5,721,032
X-33 Total liabilities and net assetsStart of year $6,777,622$6,250,809
Part XI · Reconciliation of net assets $5,721,032 net assets at year end
XI-1 Total revenue$2,062,404
XI-2 Total expenses$2,192,934
XI-3 Revenue less expenses−$130,530
XI-4 Net assets at start of year$6,297,357
XI-5 Net unrealized gains (losses) on investments−$445,795
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,721,032

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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