Edchoice INC FY2023 filing

Tax-deductible

Indianapolis, IN501(c)(3)Since 1996EducationEIN 35-1978359Revenue $10.6M in FY2023

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.
89¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
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
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
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
$1.3M
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 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
$10.6M
-26% vs prior year
Spent
$13.0M
To programs
89%
Net assets
$19.2M
By yearFY2020–FY2025
Revenue
$10.6M
FY2023▼ -26%
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
$13.0M
FY2023▲ +18%
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
FY2023▼ -6%
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 FY2023 Form 990 · 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 (FY2025) →

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

89 cents of each dollar spent went to programs.

Program services 89% · $11.6M Management & general 3% · $430K Fundraising 8% · $989K

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; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$383,904Pt VII · Sec A
Vice President- Legal Affairs
$203,398Pt VII · Sec A
Vice President of Operations
$184,783Pt VII · Sec A
V.p. of Research & Innovation
$180,262Pt VII · Sec A
V.p. of External Relations
$180,246Pt VII · Sec A
Vice President of Development
$170,504Pt VII · Sec A
Director of Fiscal Research
$154,289Pt VII · Sec A
V.p. of Training
$142,979Pt 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 · $11.5M · in their own filed words · FY2023
01

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 school choice programs. This includes formal trainings, conferences, fact-finding trips, and educational briefings.

$4.3Mprogram expense
02

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…

$4.0Mprogram 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…

$3.2Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$10.6M
Ln 12
Gifts and grantsLn 1h$9.7M
Investment incomeLn 3$847K
Fees for servicesLn 2g$109K
Money outPt IX
$13.0M
Ln 25
Programscol B$11.6M
Managementcol C$430K
Fundraisingcol D$989K
Owns and owesPt X
$19.2M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$20.5M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
16
listed · VII A
PaidVII A9
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9.7M
Noncash giftsLn 1g$10K
Fees for servicesLn 2g$109K
Investment incomeLn 3$847K
Other incomeLn 4–11$14K
Gains on assetsLn 7$7K
Total revenueLn 12$10.6M
Assets in detailPt X, end of year
CashLn 1$609K
SavingsLn 2$2.4M
Cash and savings togetherLn 1–2$3.0M
InvestmentsLn 11–13$16.2M
Land, buildings, equipmentLn 10c$192K
Other assetsLn 15$376K
Total assetsLn 16$20.5M
LiabilitiesLn 26$1.3M
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 FY23End FY23
Cash and savingsLn 1–2$1.1M$3.0M
InvestmentsLn 11–13$19.4M$16.2M
Land, buildings, equipmentLn 10c$164K$192K
Total assetsLn 16$21.5M$20.5M
LiabilitiesLn 26$1.1M$1.3M
Net assetsLn 32$20.3M$19.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.0M$1.0M
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$812K$443K$144K$225K
Other salaries and wagesLn 7$2.8M$2.6M$116K$118K
Pension plan contributionsLn 8$69K$64K$3K$3K
Other employee benefitsLn 9$462K$406K$22K$33K
Payroll taxesLn 10$252K$214K$17K$22K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$42K$42K
Lobbying feesLn 11d$135K$135K
Professional fundraising feesLn 11e$178K$178K
Other fees for servicesLn 11g$2.1M$2.0M$49K$26K
Advertising and promotionLn 12$223K$220K$1K$2K
Office expensesLn 13$190K$160K$16K$13K
OccupancyLn 16$145K$122K$9K$15K
TravelLn 17$716K$700K$644$16K
Travel and entertainment for public officialsLn 18$120K$120K
Conferences, conventions and meetingsLn 19$1.7M$1.7M$3K$3K
InterestLn 20$696$651$45
Depreciation, depletion and amortizationLn 22$50K$42K$3K$5K
InsuranceLn 23$28K$23K$2K$3K
Other expenses (24a–d)Ln 24$1.9M$1.6M$2K$328K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$13.0M$11.6M$430K$989K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $11.7M$11.3M$388K$19.2M 990 PDF
FY2024 $11.7M$12.9M−$1.2M$17.2M 990 PDF
FY2023 Viewing $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 FY2023 990 (6 parts)
Part I · Summary $10,637,137 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,323,647$9,667,186
I-9 Program service revenuePrior year $66,980$109,388
I-10 Investment incomePrior year $1,900,711$846,554
I-11 Other revenuePrior year $9,995$14,009
I-12 Total revenuePrior year $14,301,333$10,637,137
I-13 Grants and similar amounts paidPrior year $1,560,000$1,019,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,714,161$4,432,597
I-16a Professional fundraising feesPrior year $128,899$177,514
I-17 Other expensesPrior year $5,566,452$7,366,222
I-18 Total expensesPrior year $10,969,512$12,995,333
I-19 Revenue less expensesPrior year $3,331,821−$2,358,196
Part VI · Governance 7 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
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 $10,637,137 across 8 lines filed
VIII-1f All other contributions, gifts and grants$9,667,186
VIII-1g Noncash contributions (included above)$10,495
VIII-1h Total contributions, gifts and grants$9,667,186
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $109,388$109,388
VIII-3 Investment incomeExcluded from tax $839,839$839,839
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,715$6,715
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $14,009$14,009
VIII-12 Total revenueRelated to mission $109,388 · Unrelated business $0 · Excluded from tax $860,563$10,637,137
Part IX · Statement of functional expenses $12,995,333 across 23 lines filed
IX-1 Grants to domestic organizationsPrograms $1,019,000$1,019,000
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $443,206 · Management $143,977 · Fundraising $225,186$812,369
IX-7 Other salaries and wagesPrograms $2,603,336 · Management $115,646 · Fundraising $117,793$2,836,775
IX-8 Pension plan contributionsPrograms $63,588 · Management $2,818 · Fundraising $2,992$69,398
IX-9 Other employee benefitsPrograms $405,788 · Management $22,442 · Fundraising $33,364$461,594
IX-10 Payroll taxesPrograms $213,810 · Management $16,830 · Fundraising $21,821$252,461
IX-11b Legal feesManagement $1,170$1,170
IX-11c Accounting feesManagement $42,099$42,099
IX-11d Lobbying feesPrograms $134,797$134,797
IX-11e Professional fundraising feesFundraising $177,514$177,514
IX-11g Other fees for servicesPrograms $2,000,186 · Management $49,224 · Fundraising $25,831$2,075,241
IX-12 Advertising and promotionPrograms $219,707 · Management $1,377 · Fundraising $2,044$223,128
IX-13 Office expensesPrograms $160,281 · Management $16,140 · Fundraising $13,319$189,740
IX-16 OccupancyPrograms $122,013 · Management $8,715 · Fundraising $14,525$145,253
IX-17 TravelPrograms $699,900 · Management $644 · Fundraising $15,579$716,123
IX-18 Travel and entertainment for public officialsPrograms $120,197$120,197
IX-19 Conferences, conventions and meetingsPrograms $1,719,118 · Management $3,043 · Fundraising $3,026$1,725,187
IX-20 InterestPrograms $651 · Management $45$696
IX-22 Depreciation, depletion and amortizationPrograms $42,475 · Management $2,825 · Fundraising $4,709$50,009
IX-23 InsurancePrograms $23,348 · Management $1,656 · Fundraising $2,759$27,763
IX-24 Other expenses (24a–d)Programs $1,585,072 · Management $1,595 · Fundraising $328,152$1,914,819
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $11,576,473 · Management $430,246 · Fundraising $988,614$12,995,333
Part X · Balance sheet $20,478,286 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $254,242$608,863
X-2 Savings and temporary cash investmentsStart of year $854,970$2,389,254
X-3 Pledges and grants receivableStart of year $3,480$500,000
X-9 Prepaid expenses and deferred chargesStart of year $267,323$188,728
X-10c Land, buildings and equipment, netStart of year $164,178$192,260
X-11 Publicly traded securitiesStart of year $19,441,205$16,222,973
X-15 Other assetsStart of year $498,737$376,208
X-16 Total assetsStart of year $21,484,135$20,478,286
X-17 Accounts payable and accrued expensesStart of year $345,746$565,398
X-19 Deferred revenueStart of year $100,000$152,188
X-25 Other liabilitiesStart of year $703,424$567,834
X-26 Total liabilitiesStart of year $1,149,170$1,285,420
X-27 Net assets without donor restrictionsStart of year $19,934,785$18,046,477
X-28 Net assets with donor restrictionsStart of year $400,180$1,146,389
X-32 Total net assets or fund balancesStart of year $20,334,965$19,192,866
X-33 Total liabilities and net assetsStart of year $21,484,135$20,478,286
Part XI · Reconciliation of net assets $19,192,866 net assets at year end
XI-1 Total revenue$10,637,137
XI-2 Total expenses$12,995,333
XI-3 Revenue less expenses−$2,358,196
XI-4 Net assets at start of year$20,334,965
XI-5 Net unrealized gains (losses) on investments$1,216,097
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$19,192,866

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

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