Academy of Basic Education INC: Nonprofit Profile, Financials & Form 990 (EIN 39-0987840)

Revenue by fiscal year
FY2021	$16.4M
FY2022	$18.8M
FY2023	$19.4M
FY2024	$21.4M
FY2025	$22.9M

Expenses by fiscal year
FY2021	$16.0M
FY2022	$17.2M
FY2023	$18.4M
FY2024	$19.4M
FY2025	$20.2M

Net assets by fiscal year
FY2021	$31.8M
FY2022	$32.4M
FY2023	$33.9M
FY2024	$36.3M
FY2025	$39.3M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1963.

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

Where the money goes

90 cents of each dollar spent went to programs.

90%

Program services 90% · $18.2M Management & general 7% · $1.4M Fundraising 3% · $660K

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

17 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Douglas Ricci

Head of School

$187,349Pt VII · Sec A

Lawrence Pesch

Exec. Dir of Advancement and Admissions

$160,557Pt VII · Sec A

Linda Pryor

Exec Dir. of Mission and Academics

$122,249Pt VII · Sec A

Kristi Thompson

Director of Finance

$122,106Pt VII · Sec A

Nicholas Spaeth

Dir. of College Counseling

$118,940Pt VII · Sec A

Mark Bullio

Head of the Upper School

$112,725Pt VII · Sec A

Richard Raney

Head of Primary and Lower School

$107,504Pt VII · Sec A

Jessee Tomchek

Asst Head of the Upper School

$103,333Pt VII · Sec A

Douglas Ricci’s $187K as Head of School is at the 31st 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Sharon Koenings	—	—	—	$147,885	$208,701
Douglas Ricci	$187,349	$194,933	$187,967	$176,250	—
Lawrence Pesch	$160,557	$169,250	$163,567	$161,100	$157,967
Doug Ricci	—	—	—	—	$132,200
Nicholas Spaeth	$118,940	$124,575	$118,917	$113,968	$110,368
Linda Pryor	$122,249	$118,300	$115,150	$112,033	$108,167
Kristi Thompson	$122,106	$121,207	$114,840	$109,758	$107,432
Daniel Davis	—	$120,000	$117,700	$115,267	$111,300

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.

See Academy of Basic Education 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

Educates students from elementary through high school, preparing them for college and life with essential skills and values.

Provided by the organization

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1 program · $18.2M · in their own filed words · FY2024

01

Education

Operation of a private elementary, middle and high school for the purpose of educating and graduating students prepared for college and life.

$18.2Mprogram 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 · FY2024

Natl Christian Charitable Fdn INCFY2024$1.0M

David V Uihlein Foundation David Uihlein Racing Museum FoundationFY2024$50K

Fidelity Investments Charitable Gift FundFY2024$40K

Charities Aid Foundation AmericaFY2024$20K

Bradley Impact Fund INCFY2024$14K

National Philanthropic TrustFY2024$11K

Donor Advised Charitable Giving INCFY2024$10K

Vanguard Charitable Endowment ProgramFY2024$5K

Total grants receivedfrom 8 funders$1.2M

See all 8 funders →

Grants paid · 10 grants · $9.8M · 2020–2024

Unitemized GrantFY2024$1,591,109

Unitemized GrantFY2024$482,000

Unitemized GrantFY2023$1,391,288

Unitemized GrantFY2023$558,320

Unitemized GrantFY2022$1,368,708

Unitemized GrantFY2022$582,550

Unitemized GrantFY2021$1,375,969

Unitemized GrantFY2021$521,151

Unitemized GrantFY2020$1,380,304

Unitemized GrantFY2020$518,239

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$22.9M

Ln 12

Fees for servicesLn 2g$18.5M

Gifts and grantsLn 1h$4.5M

Investment incomeLn 3$599K

Money outPt IX

$20.2M

Ln 25

Programscol B$18.2M

Managementcol C$1.4M

Fundraisingcol D$660K

Owns and owesPt X

$39.3M

net assets · Ln 32

Cash and savingsLn 1–2$8.1M

Total assetsLn 16$50.2M

LiabilitiesLn 26$10.8M

PeoplePt VI, VII

17

listed · VII A

PaidVII A8

Voting boardVI 1a9

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.5M

Noncash giftsLn 1g$251K

Fundraising eventsLn 1c$390K

Fees for servicesLn 2g$18.5M

Investment incomeLn 3$599K

Gains on assetsLn 7$411K

Total revenueLn 12$22.9M

Assets in detailPt X, end of year

CashLn 1$1.1M

SavingsLn 2$7.0M

Cash and savings togetherLn 1–2$8.1M

InvestmentsLn 11–13$14.8M

Land, buildings, equipmentLn 10c$24.3M

Total assetsLn 16$50.2M

LiabilitiesLn 26$10.8M

Net assetsLn 32$39.3M

OperationsPt I, VI

EmployeesI 5375

VolunteersI 6184

Fiscal year endsHeaderJune

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$7.1M	$8.1M
InvestmentsLn 11–13	$14.7M	$14.8M
Land, buildings, equipmentLn 10c	$24.3M	$24.3M
Total assetsLn 16	$46.6M	$50.2M
LiabilitiesLn 26	$10.3M	$10.8M
Net assetsLn 32	$36.3M	$39.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$2.1M	$2.1M
Pay of current officers, directors and key staffLn 5	$567K	$507K	$33K	$26K
Other salaries and wagesLn 7	$9.9M	$8.8M	$573K	$449K
Pension plan contributionsLn 8	$384K	$336K	$28K	$21K
Other employee benefitsLn 9	$1.3M	$1.1M	$72K	$69K
Payroll taxesLn 10	$728K	$653K	$43K	$33K
Legal feesLn 11b	$10K		$10K
Accounting feesLn 11c	$66K		$66K
Other fees for servicesLn 11g	$10K		$10K
Advertising and promotionLn 12	$96K		$96K
Office expensesLn 13	$314K	$215K	$99K
Information technologyLn 14	$286K	$189K	$96K
OccupancyLn 16	$2.0M	$2.0M
TravelLn 17	$59K	$52K	$7K
Conferences, conventions and meetingsLn 19	$25K	$15K	$9K
Depreciation, depletion and amortizationLn 22	$1.1M	$1.1M
InsuranceLn 23	$171K	$171K
Other expenses (24a–d)Ln 24	$1.2M	$925K	$198K	$62K
All other expensesLn 24e	$31K	$5K	$26K
Total functional expensesLn 25	$20.2M	$18.2M	$1.4M	$660K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$22.9M	$20.2M	$2.7M	$39.3M	990 PDF
FY2024	$21.4M	$19.4M	$2.0M	$36.3M	990 PDF
FY2023	$19.4M	$18.4M	$1.1M	$33.9M	990 PDF
FY2022	$18.8M	$17.2M	$1.6M	$32.4M	990 PDF
FY2021	$16.4M	$16.0M	$398K	$31.8M	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 $22,921,781 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,051,197$4,477,491

I-9 Program service revenuePrior year $17,332,201$18,503,367

I-10 Investment incomePrior year $304,142$599,258

I-11 Other revenuePrior year $1,688,147−$658,335

I-12 Total revenuePrior year $21,375,687$22,921,781

I-13 Grants and similar amounts paidPrior year $1,949,608$2,073,109

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $11,991,834$12,831,521

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $5,441,239$5,284,281

I-18 Total expensesPrior year $19,382,681$20,188,911

I-19 Revenue less expensesPrior year $1,993,006$2,732,870

Part VI · Governance 9 of 9 board members independent, no flags

VI-1a Voting members of the governing body9

VI-1b Independent voting members9

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 $22,921,781 across 11 lines filed

Lines not itemized here account for $7,967 of total revenue; see the IRS return.

VIII-1c Fundraising events$390,135

VIII-1f All other contributions, gifts and grants$4,087,356

VIII-1g Noncash contributions (included above)$250,740

VIII-1h Total contributions, gifts and grants$4,477,491

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,503,367$18,503,367

VIII-3 Investment incomeExcluded from tax $188,614$188,614

VIII-6 Net rental income or lossExcluded from tax $10,439$10,439

VIII-7 Net gain or loss on sales of assetsExcluded from tax $410,644$410,644

VIII-8 Net income from fundraising eventsExcluded from tax −$99,541−$99,541

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $192,872 · Excluded from tax −$770,072−$577,200

VIII-12 Total revenueRelated to mission $18,509,679 · Unrelated business $192,872 · Excluded from tax −$258,261$22,921,781

Part IX · Statement of functional expenses $20,188,911 across 19 lines filed

IX-2 Grants to domestic individualsPrograms $2,073,109$2,073,109

IX-5 Pay of current officers, directors and key staffPrograms $507,241 · Management $33,162 · Fundraising $26,434$566,837

IX-7 Other salaries and wagesPrograms $8,845,030 · Management $572,552 · Fundraising $448,700$9,866,282

IX-8 Pension plan contributionsPrograms $336,141 · Management $27,653 · Fundraising $20,660$384,454

IX-9 Other employee benefitsPrograms $1,144,156 · Management $72,258 · Fundraising $69,404$1,285,818

IX-10 Payroll taxesPrograms $652,715 · Management $42,509 · Fundraising $32,906$728,130

IX-11b Legal feesManagement $9,652$9,652

IX-11c Accounting feesManagement $66,425$66,425

IX-11g Other fees for servicesManagement $9,900$9,900

IX-12 Advertising and promotionManagement $96,212$96,212

IX-13 Office expensesPrograms $215,148 · Management $98,955$314,103

IX-14 Information technologyPrograms $189,479 · Management $96,416$285,895

IX-16 OccupancyPrograms $1,978,585$1,978,585

IX-17 TravelPrograms $51,809 · Management $7,392$59,201

IX-19 Conferences, conventions and meetingsPrograms $15,439 · Management $9,115$24,554

IX-22 Depreciation, depletion and amortizationPrograms $1,051,860$1,051,860

IX-23 InsurancePrograms $171,418$171,418

IX-24 Other expenses (24a–d)Programs $925,471 · Management $198,473 · Fundraising $61,846$1,185,790

IX-24e All other expensesPrograms $4,759 · Management $25,927$30,686

IX-25 Total functional expensesPrograms $18,162,360 · Management $1,366,601 · Fundraising $659,950$20,188,911

Part X · Balance sheet $50,160,152 assets, 17 lines filed

X-1 Cash, non-interest-bearingStart of year $1,165,447$1,059,722

X-2 Savings and temporary cash investmentsStart of year $5,921,400$7,006,912

X-3 Pledges and grants receivableStart of year $75,000$2,580,916

X-4 Accounts receivableStart of year $88,717$108,514

X-8 Inventories for sale or useStart of year $16,206$7,663

X-9 Prepaid expenses and deferred chargesStart of year $285,224$300,260

X-10c Land, buildings and equipment, netStart of year $24,306,931$24,270,830

X-11 Publicly traded securitiesStart of year $8,463,760$9,167,935

X-12 Other securitiesStart of year $6,279,000$5,657,400

X-16 Total assetsStart of year $46,601,685$50,160,152

X-17 Accounts payable and accrued expensesStart of year $2,232,755$2,667,069

X-19 Deferred revenueStart of year $8,048,206$8,178,184

X-26 Total liabilitiesStart of year $10,280,961$10,845,253

X-27 Net assets without donor restrictionsStart of year $30,343,914$29,491,084

X-28 Net assets with donor restrictionsStart of year $5,976,810$9,823,815

X-32 Total net assets or fund balancesStart of year $36,320,724$39,314,899

X-33 Total liabilities and net assetsStart of year $46,601,685$50,160,152

Part XI · Reconciliation of net assets $39,314,899 net assets at year end

XI-1 Total revenue$22,921,781

XI-2 Total expenses$20,188,911

XI-3 Revenue less expenses$2,732,870

XI-4 Net assets at start of year$36,320,724

XI-5 Net unrealized gains (losses) on investments$261,305

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$39,314,899

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

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