Silicon Schools Fund INC

Tax-deductible

Oakland, CA501(c)(3)Since 2012EducationEIN 45-4860788Revenue $8.2M in FY2024

On file with the IRSsiliconschools.com827 Broadway Ste 300, 94607-4034 · Oakland, CATax-exempt since Sep 2012Publicly supported charity — 170(b)(1)(A)(vi)

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Support the launch of excellent new Schools and innovative practices that improve education.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 5 volunteers and 5 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $499K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 13% of spending
Top officer’s pay higher than 98% of similar orgs
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $4.0M
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$642K
2% of total assets
Looks good: liabilities are 2% 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
$8.2M
+8% vs prior year
Spent
$8.6M
To programs
95%
Net assets
$26.0M
By yearFY2020–FY2024
Revenue
$8.2M
FY2024▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$10.0M
FY2021$9.9M
FY2022$6.7M
FY2023$7.6M
FY2024$8.2M
Expenses
$8.6M
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.6M
FY2021$7.0M
FY2022$8.8M
FY2023$7.9M
FY2024$8.6M
Net assets
$26.0M
FY2024-0.07%
Tap a bar for its year
Net assets by fiscal year
FY2020$25.9M
FY2021$28.5M
FY2022$25.7M
FY2023$26.1M
FY2024$26.0M

From the FY2024 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: FY2024. IRS ruling in Sep 2012.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $8.2M Management & general 4% · $350K Fundraising 1% · $47K

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

13 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
$353,627Pt VII · Sec A
$256,517Pt VII · Sec A
Partner
$188,500Pt VII · Sec A
$169,833Pt VII · Sec A
$132,586Pt VII · Sec A
$5,000Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Caitrin Wright’s $354K as CEO is at the 98th percentile of top reported officer pay among 3395 $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 · 7 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Brian Greenberg$5,000$581,793$418,604$397,151$399,342
Caitrin Wright$353,627$312,453$262,892$244,069$245,780
Kelly Garcia$256,517$132,209———
Robert Schwartz$132,586$213,975$203,710$186,655$188,075
Amy Ng$188,500$173,500$158,000$144,010$118,823
Elena Sanin$169,833————
Loretta Hickman———$137,500$128,000

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 Silicon Schools Fund 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

Helps start great new schools and new ideas to make education better.

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Provided by the organization

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1 program · $8.2M · in their own filed words · FY2024
01

Silicon schools fund (SSF) conducted a due diligence and grant-making program focused on providing seed funding to excellent schools implementing next generation learning models, instructional improvement efforts, and innovation in education.

$8.2Mprogram 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
Total grants receivedfrom 6 funders$4.0M
See all 6 funders →
Grants paid · 212 grants · $27.1M · 2020–2024
Summit Public SchoolsCA · FY2024$591,061
Kipp Bay Area SchoolsCA · FY2024$384,948
Allegiance Steam Academy INCCA · FY2024$375,424
The Golden Charter AcademyCA · FY2024$333,684
Rocketship EducationCA · FY2024$237,250
Rocklin AcademyCA · FY2024$217,211
Polytechnic AcademyCA · FY2024$200,000
Kairos Public SchoolsCA · FY2024$166,000
Instruction PartnersTN · FY2024$150,000
Ednovate INCCA · FY2024$150,000
East Bay Innovation AcademyCA · FY2024$127,228
Aspire Public SchoolsCA · FY2024$124,000
See all 212 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$8.2M
Ln 12
Gifts and grantsLn 1h$7.8M
Investment incomeLn 3$485K
Money outPt IX
$8.6M
Ln 25
Programscol B$8.2M
Managementcol C$350K
Fundraisingcol D$47K
Owns and owesPt X
$26.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$26.7M
LiabilitiesLn 26$642K
PeoplePt VI, VII
13
listed · VII A
PaidVII A6
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.8M
Noncash giftsLn 1g$499K
Investment incomeLn 3$485K
Gains on assetsLn 7$483K
Total revenueLn 12$8.2M
Assets in detailPt X, end of year
CashLn 1$2.2M
SavingsLn 2$0
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$23.3M
Land, buildings, equipmentLn 10c$9K
Other assetsLn 15$531K
Total assetsLn 16$26.7M
LiabilitiesLn 26$642K
Net assetsLn 32$26.0M
OperationsPt I, VI
EmployeesI 55
VolunteersI 65
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 FY24End FY24
Cash and savingsLn 1–2$1.6M$2.2M
InvestmentsLn 11–13$23.5M$23.3M
Land, buildings, equipmentLn 10c$8K$9K
Total assetsLn 16$26.4M$26.7M
LiabilitiesLn 26$330K$642K
Net assetsLn 32$26.1M$26.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6.0M$6.0M
Pay of current officers, directors and key staffLn 5$1.1M$925K$133K$30K
Other salaries and wagesLn 7$248K$211K$30K$7K
Pension plan contributionsLn 8$9K$7K$1K$241
Other employee benefitsLn 9$32K$27K$4K$900
Payroll taxesLn 10$77K$65K$9K$2K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$46K$46K
Investment management feesLn 11f$21K$21K
Other fees for servicesLn 11g$224K$216K$8K$200
Office expensesLn 13$37K$5K$32K$114
OccupancyLn 16$101K$66K$33K$2K
TravelLn 17$76K$72K$4K
Conferences, conventions and meetingsLn 19$587K$587K
Depreciation, depletion and amortizationLn 22$5K$5K
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$400$400
Total functional expensesLn 25$8.6M$8.2M$350K$47K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $8.2M$8.6M−$375K$26.0M 990 PDF
FY2023 $7.6M$7.9M−$346K$26.1M 990 PDF
FY2022 $6.7M$8.8M−$2.1M$25.7M 990 PDF
FY2021 $9.9M$7.0M$2.9M$28.5M 990 PDF
FY2020 $10.0M$7.6M$2.4M$25.9M 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 FY2024 990 (6 parts)
Part I · Summary $8,239,053 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,304,844$7,754,453
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $295,944$484,600
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $7,600,788$8,239,053
I-13 Grants and similar amounts paidPrior year $5,016,898$6,036,344
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,688,332$1,454,435
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,241,247$1,123,629
I-18 Total expensesPrior year $7,946,477$8,614,408
I-19 Revenue less expensesPrior year −$345,689−$375,355
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 $8,239,053 across 6 lines filed
VIII-1f All other contributions, gifts and grants$7,754,453
VIII-1g Noncash contributions (included above)$499,496
VIII-1h Total contributions, gifts and grants$7,754,453
VIII-3 Investment incomeExcluded from tax $1,501$1,501
VIII-7 Net gain or loss on sales of assetsExcluded from tax $483,099$483,099
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $484,600$8,239,053
Part IX · Statement of functional expenses $8,614,408 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $6,036,344$6,036,344
IX-5 Pay of current officers, directors and key staffPrograms $925,067 · Management $133,105 · Fundraising $30,469$1,088,641
IX-7 Other salaries and wagesPrograms $211,157 · Management $30,383 · Fundraising $6,955$248,495
IX-8 Pension plan contributionsPrograms $7,302 · Management $1,051 · Fundraising $241$8,594
IX-9 Other employee benefitsPrograms $27,326 · Management $3,932 · Fundraising $900$32,158
IX-10 Payroll taxesPrograms $65,055 · Management $9,454 · Fundraising $2,038$76,547
IX-11b Legal feesManagement $5,103$5,103
IX-11c Accounting feesManagement $46,283$46,283
IX-11f Investment management feesManagement $21,468$21,468
IX-11g Other fees for servicesPrograms $215,808 · Management $8,248 · Fundraising $200$224,256
IX-13 Office expensesPrograms $4,618 · Management $31,997 · Fundraising $114$36,729
IX-16 OccupancyPrograms $65,622 · Management $33,442 · Fundraising $1,893$100,957
IX-17 TravelPrograms $72,307 · Fundraising $3,806$76,113
IX-19 Conferences, conventions and meetingsPrograms $587,159$587,159
IX-22 Depreciation, depletion and amortizationManagement $5,101$5,101
IX-23 InsuranceManagement $20,060$20,060
IX-24 Other expenses (24a–d)Management $400$400
IX-25 Total functional expensesPrograms $8,217,765 · Management $350,027 · Fundraising $46,616$8,614,408
Part X · Balance sheet $26,689,403 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $1,532,554$2,159,457
X-2 Savings and temporary cash investmentsStart of year $41,244$0
X-3 Pledges and grants receivableStart of year $1,101,196$648,634
X-9 Prepaid expenses and deferred chargesStart of year $25,615$3,379
X-10c Land, buildings and equipment, netStart of year $8,388$9,418
X-11 Publicly traded securitiesStart of year $23,492,328$23,162,915
X-13 Program-related investmentsStart of year $0$175,000
X-15 Other assetsStart of year $194,196$530,600
X-16 Total assetsStart of year $26,395,521$26,689,403
X-17 Accounts payable and accrued expensesStart of year $154,758$113,972
X-19 Deferred revenueStart of year $90,056$43,777
X-25 Other liabilitiesStart of year $85,617$484,306
X-26 Total liabilitiesStart of year $330,431$642,055
X-27 Net assets without donor restrictionsStart of year $24,963,894$25,398,714
X-28 Net assets with donor restrictionsStart of year $1,101,196$648,634
X-32 Total net assets or fund balancesStart of year $26,065,090$26,047,348
X-33 Total liabilities and net assetsStart of year $26,395,521$26,689,403
Part XI · Reconciliation of net assets $26,047,348 net assets at year end
XI-1 Total revenue$8,239,053
XI-2 Total expenses$8,614,408
XI-3 Revenue less expenses−$375,355
XI-4 Net assets at start of year$26,065,090
XI-5 Net unrealized gains (losses) on investments$357,613
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$26,047,348

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

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