Live IT Learn IT FY2022 filing

EIN 35-2247059 Public charity (501(c)(3)) Washington, DC NTEE B99
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Revenue & expenses by yearFY2020–FY2024
Revenue
$841K
FY2022▼ -8%
Expenses
$764K
FY2022▼ -15%

Form 990 for the fiscal year ending August 2022 (IRS tax year 2021).


Provides students with hands-on learning experiences to boost confidence and academic success. For fiscal year 2022 it reported $841K in revenue, $764K in expenses, and $931K in net assets.Pt I

Founded
2005
Type
Public charity (501(c)(3)) · Education
Location
Washington, DC
Website
www.liveitlearnit.org
Filings
5 on file (2020–2022)
Revenue
$841KFY2022
Expenses
$764K
Net assets
$931K
People
14
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Provided by the organization

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Size
$1–10M
What they do
Provides students with hands-on learning experiences to boost confidence and academic success.
Leadership
Michelle N Edwards · Executive Director · $114K
Money in and out
$841K revenue, $764K expenses
Bottom line
70% program efficiency

What Funders Ask

From IRS filings

Tax-deductible?

good Yes

Per the IRS master file. Details →

Can I give now?

good No revocation on IRS record

Not on the IRS revocation list. Details →

Filing up to date?

good Filed FY2024 (typical filing lag)

Details →

Foundation funders?

good 1 funder — Walter Brownley Ua Succ Trust 200267423221

$20K in the latest grant year. Details →

Spent on programs?

good 70% to programs

Form 990 Part IX, latest filing. Details →

Size and trend

$1–10M

↓ -8% vs prior year Details →

Where the money goes · FY2022
Total revenue
$841K
Pt VIII · Ln 12
Total expenses
$764K
Pt IX · Ln 25
Net assets
$931K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $77K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.23 Fundraising $0.07
Program efficiency
70%
of spending reaches programs
Operating runway
13.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+9%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$1.2M
FY2022▲ +34%
Total liabilities
$294K
FY2022▲ +367%
Revenue less expensesPt I · Ln 19$77K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CLive IT Learn IT
EINHdr · item D35-2247059
Principal addressHdr · item CWashington, DC
WebsiteHdr · item Jwww.liveitlearnit.org
Year of formationHdr · item L2005
State of legal domicileHdr · item MDC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B99)
Ruling yearIRS BMFSep 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$114,244Pt VII · Sec A
Head of Finance and Operation
$55,297Pt VII · Sec A
Head of Programming and Curri
$23,362Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Erin McSpadden’s $86K as Co-Executive Director is at the 22nd percentile of top reported officer pay among 3394 $1–10M 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 · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michelle N Edwards——$132,015$114,244$126,788$126,788
Erin McSpadden$85,711$92,624$68,876$55,297——
Maryam Trowell$84,073$86,180$73,719$23,362——

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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Mission & Programs · Part III

Where the work happens

1 program service account for $533K of program spending, described in the organization's own filed words · FY2021.
01

For almost 20 years, Live It Learn It has addressed educational inequities in Washington, DC by immersing elementary-aged students in learning experiences that expose them to new places, content, and career options.

$533Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$719K · 85%
Program service revenue$88K · 11%
Other revenue$34K · 4%
Contributions & grants85%$719K
Program service revenue11%$88K
Other revenue4%$34K
Total revenueLn 12$841K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.23 Fundraising $0.07
Program services70%$533K
Management & general23%$174K
Fundraising7%$57K
Total functional expensesLn 25$764K

Balance Sheet

Part X · end of year
CashLn 1$807K
Total assetsLn 16$1.2M
Total liabilitiesLn 26$294K
Total net assetsLn 32$931K
Months of cash on handcomputed12.7

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $807K · Operating expenses (Pt IX) $764K · Less non-cash grants $22K · Cash operating expenses/yr $742K
13.1 months
Where the money goes
Program services
Program services $533K · Total expenses $764K
70%
Management & General
Management & general $174K · Total expenses $764K
23%
Fundraising
Fundraising $57K · Total expenses $764K
7%
Cost to raise $1
Fundraising expense (3-yr avg) $83K · Solicited contributions (3-yr avg) $594K
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $719K · Total revenue $841K
85%
Government reliance
Government grants — · Total revenue $841K
—
Earned-income share
Program service revenue $88K · Total revenue $841K
11%
Investment reliance
Investment income $0 · Total revenue $841K
0%
Program self-sufficiency
Program service revenue $88K · Total expenses $764K
12%
Growth & trend
Revenue growth (YoY)
This year $841K · Prior year $911K
-8%
Net-asset trend (YoY)
End of year $931K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $841K · Expenses $764K
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
—
Net-asset ratio
Net assets $931K · Total assets $1.2M
76%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michelle N Edwards · Reported title Executive Director · Highest reported compensation $114K · Total expenses $764K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $489K · Total expenses $764K
64%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 70%——
Overhead ratio 23%——
Fundraising cost ratio 8%——
Revenue growth -8%——
Accounting fee ratio 10%——

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

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$20K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$777K revenue · ⤓ 990 PDF
FY2023$771K revenue · ⤓ 990 PDF
FY2022$841K revenue · viewing · ⤓ 990 PDF
FY2021$911K revenue · ⤓ 990 PDF
FY2020$792K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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