Educational Foundation for Students: Nonprofit Profile, Financials & Form 990 (EIN 45-4058184)

Revenue by fiscal year
FY2020	$60K
FY2021	$60K
FY2022	$60K
FY2023	$62K
FY2024	$52K

Expenses by fiscal year
FY2020	$163K
FY2021	$163K
FY2022	$163K
FY2023	$166K
FY2024	$3.3M

Net assets by fiscal year
FY2020	$4.5M
FY2021	$4.4M
FY2022	$4.3M
FY2023	$4.1M
FY2024	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $3.3M Management & general 0% · $16K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation

Irene B Gillespie

Secretary/Treasurer

$0Pt VII · Sec A

May Peach

Director

$0Pt VII · Sec A

Louise R Slater

President

$0Pt VII · Sec A

See Educational Foundation for Students executive salaries →

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 15aNo

Programs and updates

Funds Glenforest School, which supports students with learning differences.

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1 program · $3.3M · in their own filed words · FY2024

01

Grant to financially support glenforest school, an irc 501(c)(3) organization, which provides educational opportunities to students who learn differently.

$3.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 5 grants · $356K · 2020–2024

Glenforest SchoolSC · FY2024$115,578

Glenforest SchoolSC · FY2023$60,000

Glenforest SchoolSC · FY2022$60,000

Glenforest SchoolSC · FY2021$60,000

Glenforest SchoolSC · FY2020$60,000

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$52K

Ln 12

Fees for servicesLn 2g$50K

Investment incomeLn 3$2K

Money outPt IX

$3.3M

Ln 25

Programscol B$3.3M

Managementcol C$16K

Owns and owesPt X

$0

net assets · Ln 32

Total assetsLn 16$0

LiabilitiesLn 26$0

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$50K

Investment incomeLn 3$2K

Total revenueLn 12$52K

Assets in detailPt X, end of year

Total assetsLn 16$0

LiabilitiesLn 26$0

Net assetsLn 32$0

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$80K	$0
InvestmentsLn 11–13		$0
Land, buildings, equipmentLn 10c	$4.1M	$0
Total assetsLn 16	$4.1M	$0
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$4.1M	$0

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$3.2M	$3.2M
Legal feesLn 11b	$10K		$10K
Accounting feesLn 11c	$6K		$6K
Depreciation, depletion and amortizationLn 22	$90K	$90K
Other expenses (24a–d)Ln 24	$52		$52
Total functional expensesLn 25	$3.3M	$3.3M	$16K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Jun 12, 2025	$52K	$3.3M	−$3.2M	$0	990 PDF
FY2023Filed with the IRS Dec 5, 2024	$62K	$166K	−$104K	$4.1M	990 PDF
FY2022Filed with the IRS Nov 15, 2023	$60K	$163K	−$103K	$4.3M	990 PDF
FY2021Filed with the IRS May 4, 2022	$60K	$163K	−$103K	$4.4M	990 PDF
FY2020Filed with the IRS Feb 19, 2021	$60K	$163K	−$103K	$4.5M	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2024 990

Part I · Summary $51,772 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $60,000$50,000

I-10 Investment incomePrior year $1,820$1,772

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $61,820$51,772

I-13 Grants and similar amounts paidPrior year $60,000$3,190,578

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

I-15 Salaries and benefitsPrior year $0$0

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

I-17 Other expensesPrior year $105,601$105,992

I-18 Total expensesPrior year $165,601$3,296,570

I-19 Revenue less expensesPrior year −$103,781−$3,244,798

Part VI · Governance 3 of 3 board members independent, 3 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members3

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $51,772 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $50,000$50,000

VIII-3 Investment incomeExcluded from tax $1,772$1,772

VIII-12 Total revenueRelated to mission $50,000 · Unrelated business $0 · Excluded from tax $1,772$51,772

Part IX · Statement of functional expenses $3,296,570 across 5 lines filed

IX-1 Grants to domestic organizationsPrograms $3,190,578$3,190,578

IX-11b Legal feesManagement $9,748$9,748

IX-11c Accounting feesManagement $6,000$6,000

IX-22 Depreciation, depletion and amortizationPrograms $90,192$90,192

IX-24 Other expenses (24a–d)Management $52$52

IX-25 Total functional expensesPrograms $3,280,770 · Management $15,800 · Fundraising $0$3,296,570

Part X · Balance sheet $0 assets, 22 lines filed

X-1 Cash, non-interest-bearing$0

X-2 Savings and temporary cash investmentsStart of year $79,605$0

X-3 Pledges and grants receivable$0

X-4 Accounts receivable$0

X-5 Loans to officers and key people$0

X-6 Loans to other insiders$0

X-7 Notes and loans receivable$0

X-8 Inventories for sale or use$0

X-9 Prepaid expenses and deferred charges$0

X-10c Land, buildings and equipment, netStart of year $4,067,372$0

X-11 Publicly traded securities$0

X-12 Other securities$0

X-13 Program-related investments$0

X-14 Intangible assets$0

X-15 Other assets$0

X-16 Total assetsStart of year $4,146,977$0

X-26 Total liabilitiesStart of year $0$0

X-29 Capital stock or trust principalStart of year $0$0

X-30 Paid-in or capital surplusStart of year $0$0

X-31 Retained earnings or endowmentStart of year $4,146,977$0

X-32 Total net assets or fund balancesStart of year $4,146,977$0

X-33 Total liabilities and net assetsStart of year $4,146,977$0

Part XI · Reconciliation of net assets $0 net assets at year end

XI-1 Total revenue$51,772

XI-2 Total expenses$3,296,570

XI-3 Revenue less expenses−$3,244,798

XI-4 Net assets at start of year$4,146,977

XI-9 Other changes in net assets−$902,179

XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Educational Foundation for Students

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Educational Foundation for Students

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV