Edchoice INC

Tax-deductible

Indianapolis, IN501(c)(3)Since 1996EducationEIN 35-1978359Revenue $11.7M in FY2025

On file with the IRSedchoice.org111 Monument Cir Ste 2650, 46204-5102 · Indianapolis, INTax-exempt since Jun 1996Publicly supported charity — 170(b)(1)(A)(vi)

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Edchoice, INC. Is dedicated to advancing full and unencumbered educational choice as the best pathway to successful lives and a stronger society.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Run by 8 volunteers and 43 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
4 of 6
filings with a surplus
Average surplus $266K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.8M
to officers and key staff · 16% of spending
Top officer’s pay higher than 81% of similar orgs
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$762K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$11.7M
-0.3% vs prior year
Spent
$11.3M
To programs
87%
Net assets
$19.2M
By yearFY2020–FY2025
Revenue
$11.7M
FY2025-0.3%
Tap a bar for its year
Revenue by fiscal year
FY2020$8.1M
FY2021$10.1M
FY2022$14.3M
FY2023$10.6M
FY2024$11.7M
FY2025$11.7M
Expenses
$11.3M
FY2025▼ -13%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.3M
FY2021$9.5M
FY2022$11.0M
FY2023$13.0M
FY2024$12.9M
FY2025$11.3M
Net assets
$19.2M
FY2025▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$17.9M
FY2021$19.8M
FY2022$20.3M
FY2023$19.2M
FY2024$17.2M
FY2025$19.2M

From the FY2025 Form 990 · 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: FY2025. IRS ruling in Jun 1996.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $9.8M Management & general 4% · $456K Fundraising 9% · $1000K

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

16 people listed on the 990; $1.8M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$407,301Pt VII · Sec A
Executive Vice President & Director of Litigation
$251,380Pt VII · Sec A
Vice President of Legal Policy
$212,300Pt VII · Sec A
Executive Vice President of Operations and Chief of Staff
$195,400Pt VII · Sec A
Executive Vice President of Programs
$191,100Pt VII · Sec A
Vice President of Research & Innovation
$185,100Pt VII · Sec A
Executive Vice President of External Relations
$181,000Pt VII · Sec A
$173,118Pt VII · Sec A

Robert C Enlow’s $407K as President & CEO is at the 81st percentile of top reported officer pay among 3683 $10–100M 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Robert C Enlow$407,301$452,708$383,904$338,508$323,504$316,110
Thomas Fisher$251,380$250,004————
Leslie Hiner$212,300$213,008$203,398$181,104$176,951$163,500
Carey E Folco$195,400$187,900$184,783$155,454$130,800$107,133
Brian McGrath$191,100$175,650$180,246$148,284$146,650—
Paul Diperna$185,100$175,650$180,262$149,600$148,241$130,658
Steven Holwerda$181,000$165,904$170,504$166,000$167,893$145,824
Bryan Cleveland$173,118—————

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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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

Promotes educational freedom and choice to empower individuals and strengthen society.

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Provided by the organization

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3 programs · $8.8M · in their own filed words · FY2025
01

State Programs

Edchoice, inc. Works in states around the country to educate the public on the issue of educational choice, providing educational services to state-based organizations and individuals. Services include: sponsoring and hosting informational symposiums, testifying in front of various legislative bodies, educating local and state…

$3.1Mprogram expense
02

Training and Outreach

Edchoice, inc. Undertakes non-partisan educational training and outreach activities that inform the public, media and policy makers on the issue of educational choice and on existing educational choice programs. This includes formal trainings, conferences, fact-finding trips, and educational briefings.

$2.9Mprogram expense
03

Research and Thought Leadership

Edchoice, inc. Produces non-partisan research and publications intended to inform the public on the issue of educational choice. Types of research and educational publications include: reviewing and synthesizing existing research on educational choice, such as the abc's of school choice and informational brochures; conducting original…

$2.8Mprogram 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$25K
Grants paid · 121 grants · $6.5M · 2020–2025
National Microschooling CenterNV · FY2025$75,000
Love Your SchoolAZ · FY2025$75,000
National Urban League INCNY · FY2025$50,000
Palmetto Promise InstituteSC · FY2025$40,000
Alabama Policy Institute INCAL · FY2025$30,000
National Urban League INCNY · FY2024$100,000
See all 121 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$11.7M
Ln 12
Gifts and grantsLn 1h$10.7M
Investment incomeLn 3$687K
Fees for servicesLn 2g$253K
Money outPt IX
$11.3M
Ln 25
Programscol B$9.8M
Managementcol C$456K
Fundraisingcol D$1000K
Owns and owesPt X
$19.2M
net assets · Ln 32
Cash and savingsLn 1–2$671K
Total assetsLn 16$20.0M
LiabilitiesLn 26$762K
PeoplePt VI, VII
16
listed · VII A
PaidVII A9
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10.7M
Noncash giftsLn 1g$15K
Fees for servicesLn 2g$253K
Investment incomeLn 3$687K
Other incomeLn 4–11$83K
Gains on assetsLn 7−$30K
Total revenueLn 12$11.7M
Assets in detailPt X, end of year
CashLn 1$68K
SavingsLn 2$603K
Cash and savings togetherLn 1–2$671K
InvestmentsLn 11–13$17.7M
Land, buildings, equipmentLn 10c$46K
Other assetsLn 15$1.0M
Total assetsLn 16$20.0M
LiabilitiesLn 26$762K
Net assetsLn 32$19.2M
OperationsPt I, VI
EmployeesI 543
VolunteersI 68
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$737K$671K
InvestmentsLn 11–13$16.3M$17.7M
Land, buildings, equipmentLn 10c$128K$46K
Total assetsLn 16$18.4M$20.0M
LiabilitiesLn 26$1.2M$762K
Net assetsLn 32$17.2M$19.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$828K$828K
Pay of current officers, directors and key staffLn 5$1.1M$684K$152K$237K
Other salaries and wagesLn 7$3.6M$3.3M$103K$200K
Pension plan contributionsLn 8$93K$85K$3K$6K
Other employee benefitsLn 9$451K$394K$13K$44K
Payroll taxesLn 10$324K$279K$16K$28K
Legal feesLn 11b$20K$18K$1K
Accounting feesLn 11c$52K$52K
Lobbying feesLn 11d$137K$137K
Professional fundraising feesLn 11e$126K$126K
Other fees for servicesLn 11g$1.4M$1.3M$26K$18K
Advertising and promotionLn 12$150K$147K$900$2K
Office expensesLn 13$265K$183K$72K$10K
OccupancyLn 16$191K$167K$7K$17K
TravelLn 17$530K$490K$473$40K
Travel and entertainment for public officialsLn 18$97K$97K
Conferences, conventions and meetingsLn 19$832K$820K$4K$9K
InterestLn 20$772$666$31$75
Depreciation, depletion and amortizationLn 22$65K$56K$3K$6K
InsuranceLn 23$27K$24K$941$2K
Other expenses (24a–d)Ln 24$1.0M$777K$2K$254K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$11.3M$9.8M$456K$1000K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $11.7M$11.3M$388K$19.2M 990 PDF
FY2024 $11.7M$12.9M−$1.2M$17.2M 990 PDF
FY2023 $10.6M$13.0M−$2.4M$19.2M 990 PDF
FY2022 $14.3M$11.0M$3.3M$20.3M 990 PDF
FY2021 $10.1M$9.5M$646K$19.8M 990 PDF
FY2020 $8.1M$7.3M$822K$17.9M 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 FY2025 990 (6 parts)
Part I · Summary $11,677,108 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $9,771,686$10,654,150
I-9 Program service revenuePrior year $192,868$253,055
I-10 Investment incomePrior year $1,737,485$686,781
I-11 Other revenuePrior year $13,220$83,122
I-12 Total revenuePrior year $11,715,259$11,677,108
I-13 Grants and similar amounts paidPrior year $1,238,000$827,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $5,403,431$5,544,479
I-16a Professional fundraising feesPrior year $126,000$126,000
I-17 Other expensesPrior year $6,179,499$4,790,890
I-18 Total expensesPrior year $12,946,930$11,288,869
I-19 Revenue less expensesPrior year −$1,231,671$388,239
Part VI · Governance 8 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
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 $11,677,108 across 9 lines filed
VIII-1f All other contributions, gifts and grants$10,654,150
VIII-1g Noncash contributions (included above)$15,299
VIII-1h Total contributions, gifts and grants$10,654,150
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $253,055$253,055
VIII-3 Investment incomeExcluded from tax $716,808$716,808
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$30,027−$30,027
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $83,122$83,122
VIII-12 Total revenueRelated to mission $253,055 · Unrelated business $0 · Excluded from tax $769,903$11,677,108
Part IX · Statement of functional expenses $11,288,869 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $827,500$827,500
IX-5 Pay of current officers, directors and key staffPrograms $684,162 · Management $151,556 · Fundraising $237,404$1,073,122
IX-7 Other salaries and wagesPrograms $3,300,677 · Management $102,909 · Fundraising $199,740$3,603,326
IX-8 Pension plan contributionsPrograms $84,634 · Management $2,545 · Fundraising $6,268$93,447
IX-9 Other employee benefitsPrograms $394,466 · Management $13,051 · Fundraising $43,520$451,037
IX-10 Payroll taxesPrograms $279,015 · Management $16,319 · Fundraising $28,213$323,547
IX-11b Legal feesPrograms $18,429 · Management $1,131$19,560
IX-11c Accounting feesManagement $52,153$52,153
IX-11d Lobbying feesPrograms $136,686$136,686
IX-11e Professional fundraising feesFundraising $126,000$126,000
IX-11g Other fees for servicesPrograms $1,347,967 · Management $26,161 · Fundraising $17,916$1,392,044
IX-12 Advertising and promotionPrograms $146,556 · Management $900 · Fundraising $2,085$149,541
IX-13 Office expensesPrograms $183,342 · Management $72,039 · Fundraising $9,830$265,211
IX-16 OccupancyPrograms $167,018 · Management $6,947 · Fundraising $17,368$191,333
IX-17 TravelPrograms $489,637 · Management $473 · Fundraising $39,817$529,927
IX-18 Travel and entertainment for public officialsPrograms $96,831$96,831
IX-19 Conferences, conventions and meetingsPrograms $819,898 · Management $3,831 · Fundraising $8,734$832,463
IX-20 InterestPrograms $666 · Management $31 · Fundraising $75$772
IX-22 Depreciation, depletion and amortizationPrograms $55,505 · Management $2,623 · Fundraising $6,412$64,540
IX-23 InsurancePrograms $23,796 · Management $941 · Fundraising $2,353$27,090
IX-24 Other expenses (24a–d)Programs $777,040 · Management $1,923 · Fundraising $253,776$1,032,739
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $9,833,825 · Management $455,533 · Fundraising $999,511$11,288,869
Part X · Balance sheet $20,004,656 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $199,957$68,150
X-2 Savings and temporary cash investmentsStart of year $537,104$602,532
X-3 Pledges and grants receivableStart of year $501,104$268,299
X-9 Prepaid expenses and deferred chargesStart of year $192,057$304,632
X-10c Land, buildings and equipment, netStart of year $127,557$45,768
X-11 Publicly traded securitiesStart of year $16,256,508$17,687,048
X-15 Other assetsStart of year $590,138$1,028,227
X-16 Total assetsStart of year $18,404,425$20,004,656
X-17 Accounts payable and accrued expensesStart of year $535,676$340,805
X-19 Deferred revenueStart of year $168,900$194,500
X-25 Other liabilitiesStart of year $462,697$226,355
X-26 Total liabilitiesStart of year $1,167,273$761,660
X-27 Net assets without donor restrictionsStart of year $16,652,114$18,280,230
X-28 Net assets with donor restrictionsStart of year $585,038$962,766
X-32 Total net assets or fund balancesStart of year $17,237,152$19,242,996
X-33 Total liabilities and net assetsStart of year $18,404,425$20,004,656
Part XI · Reconciliation of net assets $19,242,996 net assets at year end
XI-1 Total revenue$11,677,108
XI-2 Total expenses$11,288,869
XI-3 Revenue less expenses$388,239
XI-4 Net assets at start of year$17,237,152
XI-5 Net unrealized gains (losses) on investments$1,617,605
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$19,242,996

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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