Synapse School: FY2021 Nonprofit Profile & Form 990 (EIN 46-0631841)

Jim Eagen’s $670K as Head of School is at the 95th 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	FY2020
Jim Eagen	$669,591	$596,602	$596,602	$477,464	$413,079	$395,116
Eric Story	$200,046	$188,695	$176,204	—	—	—
Katherine Morgan	$191,864	$173,932	$173,932	$105,024	$130,338	—
Stephanie Seto	$188,256	$174,299	—	—	—	—
Dana Story	$175,754	$166,486	—	—	—	—
Stehanie Seto	—	—	$174,299	$152,943	—	—
May Duong	$163,311	—	—	—	—	$105,811
Isha Jain	—	$163,071	—	—	—	—

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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers gifted learners through education and innovation to become change makers.

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1 program · $13.7M · in their own filed words · FY2020

01

Educational Program

Synapse school combines social-emotional learning, leading-edge academics, and the practice of innovation to develop gifted learners into the change makers of tomorrow. The school serves an enrollment of 300 STUDENTS.GENERAL/ADMIN synapse school requires a large amount of support in order for the educational program to function towards…

$13.7Mprogram 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

Donor Advised Charitable Giving INCFY2024$1.2M

National Philanthropic TrustFY2024$559K

American Online Giving Foundation INCFY2024$145K

Fidelity Investments Charitable Gift FundFY2024$102K

Morgan Stanley Global Impact Funding Trust INCFY2024$69K

The Angelo Family FoundationFY2024$20K

Vanguard Charitable Endowment ProgramFY2024$16K

The McCown Family FoundationFY2024$13K

Total grants receivedfrom 14 funders$2.2M

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Grants paid · 6 grants · $9.1M · 2019–2024

Unitemized GrantFY2024$1,854,575

Unitemized GrantFY2023$1,897,937

Unitemized GrantFY2022$1,292,685

Unitemized GrantFY2021$1,438,400

Unitemized GrantFY2020$1,475,955

Unitemized GrantFY2019$1,117,415

By the numbers

The FY2021 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$17.1M

Ln 12

Fees for servicesLn 2g$11.6M

Gifts and grantsLn 1h$5.5M

Investment incomeLn 3$20K

Money outPt IX

$17.5M

Ln 25

Programscol B$13.7M

Managementcol C$3.2M

Fundraisingcol D$577K

Owns and owesPt X

$6.0M

net assets · Ln 32

Cash and savingsLn 1–2$14.3M

Total assetsLn 16$20.7M

LiabilitiesLn 26$14.7M

PeoplePt VI, VII

14

listed · VII A

PaidVII A4

Voting boardVI 1a9

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5.5M

Noncash giftsLn 1g$35K

Fundraising eventsLn 1c$1.2M

Fees for servicesLn 2g$11.6M

Investment incomeLn 3$20K

Other incomeLn 4–11$520

Total revenueLn 12$17.1M

Assets in detailPt X, end of year

CashLn 1$487K

SavingsLn 2$13.9M

Cash and savings togetherLn 1–2$14.3M

Land, buildings, equipmentLn 10c$5.8M

Total assetsLn 16$20.7M

LiabilitiesLn 26$14.7M

Net assetsLn 32$6.0M

OperationsPt I, VI

EmployeesI 5102

VolunteersI 611

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 FY21	End FY21
Cash and savingsLn 1–2	$12.4M	$14.3M
Land, buildings, equipmentLn 10c	$5.0M	$5.8M
Total assetsLn 16	$18.2M	$20.7M
LiabilitiesLn 26	$11.7M	$14.7M
Net assetsLn 32	$6.4M	$6.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$1.5M	$1.5M
Pay of current officers, directors and key staffLn 5	$618K	$174K	$444K
Other salaries and wagesLn 7	$5.5M	$5.0M	$239K	$251K
Pension plan contributionsLn 8	$187K	$187K
Other employee benefitsLn 9	$815K	$727K	$53K	$35K
Payroll taxesLn 10	$488K	$418K	$50K	$20K
Legal feesLn 11b	$11K	$7K	$4K
Accounting feesLn 11c	$143K	$28K	$115K
Other fees for servicesLn 11g	$2.6M	$2.6M	$12K	$61K
Advertising and promotionLn 12	$84K	$84K		$46
Office expensesLn 13	$14K	$14K	$258
Information technologyLn 14	$271K	$27K	$244K
OccupancyLn 16	$1.8M	$1.3M	$493K	$38K
Depreciation, depletion and amortizationLn 22	$596K		$596K
InsuranceLn 23	$33K	$33K
Other expenses (24a–d)Ln 24	$2.5M	$1.4M	$935K	$166K
All other expensesLn 24e	$301K	$275K	$20K	$6K
Total functional expensesLn 25	$17.5M	$13.7M	$3.2M	$577K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$23.8M	$25.0M	−$1.2M	$4.0M	990 PDF
FY2024	$21.5M	$23.5M	−$2.0M	$5.1M	990 PDF
FY2023	$24.5M	$21.5M	$3.0M	$7.0M	990 PDF
FY2022	$17.8M	$19.6M	−$1.8M	$4.0M	990 PDF
FY2021 Viewing	$17.1M	$17.5M	−$445K	$6.0M	990 PDF
FY2020	$13.5M	$14.2M	−$695K	$6.4M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $17,078,899 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,425,805$5,505,353

I-9 Program service revenuePrior year $9,727,918$11,553,175

I-10 Investment incomePrior year $288,529$19,851

I-11 Other revenuePrior year $55,290$520

I-12 Total revenuePrior year $13,497,542$17,078,899

I-13 Grants and similar amounts paidPrior year $1,117,415$1,475,955

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

I-15 Salaries and benefitsPrior year $6,400,394$7,646,768

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

I-17 Other expensesPrior year $6,675,198$8,401,221

I-18 Total expensesPrior year $14,193,007$17,523,944

I-19 Revenue less expensesPrior year −$695,465−$445,045

Part VI · Governance 9 of 9 board members independent, 1 to look at

VI-1a Voting members of the governing body9

VI-1b Independent voting members9

VI-2 Family or business relationship among officers or directorsYes

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 $17,078,899 across 9 lines filed

VIII-1c Fundraising events$1,180,015

VIII-1f All other contributions, gifts and grants$4,325,338

VIII-1g Noncash contributions (included above)$35,260

VIII-1h Total contributions, gifts and grants$5,505,353

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,553,175$11,553,175

VIII-3 Investment incomeExcluded from tax $19,851$19,851

VIII-8 Net income from fundraising eventsExcluded from tax −$6,142−$6,142

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $6,662$6,662

VIII-12 Total revenueRelated to mission $11,553,175 · Unrelated business $0 · Excluded from tax $20,371$17,078,899

Part IX · Statement of functional expenses $17,523,944 across 17 lines filed

IX-2 Grants to domestic individualsPrograms $1,475,955$1,475,955

IX-5 Pay of current officers, directors and key staffPrograms $174,254 · Management $443,645$617,899

IX-7 Other salaries and wagesPrograms $5,048,732 · Management $238,541 · Fundraising $251,028$5,538,301

IX-8 Pension plan contributionsPrograms $187,332$187,332

IX-9 Other employee benefitsPrograms $726,772 · Management $53,187 · Fundraising $35,208$815,167

IX-10 Payroll taxesPrograms $417,641 · Management $50,320 · Fundraising $20,108$488,069

IX-11b Legal feesPrograms $6,601 · Management $4,040$10,641

IX-11c Accounting feesPrograms $28,325 · Management $114,975$143,300

IX-11g Other fees for servicesPrograms $2,559,561 · Management $12,078 · Fundraising $60,759$2,632,398

IX-12 Advertising and promotionPrograms $83,700 · Fundraising $46$83,746

IX-13 Office expensesPrograms $14,172 · Management $258$14,430

IX-14 Information technologyPrograms $27,044 · Management $243,557$270,601

IX-16 OccupancyPrograms $1,259,236 · Management $493,098 · Fundraising $37,658$1,789,992

IX-22 Depreciation, depletion and amortizationManagement $596,302$596,302

IX-23 InsurancePrograms $33,347$33,347

IX-24 Other expenses (24a–d)Programs $1,424,367 · Management $935,235 · Fundraising $166,359$2,525,961

IX-24e All other expensesPrograms $275,129 · Management $19,628 · Fundraising $5,746$300,503

IX-25 Total functional expensesPrograms $13,742,168 · Management $3,204,864 · Fundraising $576,912$17,523,944

Part X · Balance sheet $20,691,097 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $236,138$487,190

X-2 Savings and temporary cash investmentsStart of year $12,172,063$13,861,321

X-3 Pledges and grants receivableStart of year $573,191$390,567

X-9 Prepaid expenses and deferred chargesStart of year $195,917$198,579

X-10c Land, buildings and equipment, netStart of year $4,957,476$5,753,440

X-16 Total assetsStart of year $18,151,143$20,691,097

X-17 Accounts payable and accrued expensesStart of year $233,956$445,009

X-19 Deferred revenueStart of year $10,442,752$13,216,698

X-24 Unsecured notes and loans payableStart of year $1,043,697$1,043,697

X-26 Total liabilitiesStart of year $11,720,405$14,705,404

X-27 Net assets without donor restrictionsStart of year $5,907,960$5,746,077

X-28 Net assets with donor restrictionsStart of year $522,778$239,616

X-32 Total net assets or fund balancesStart of year $6,430,738$5,985,693

X-33 Total liabilities and net assetsStart of year $18,151,143$20,691,097

Part XI · Reconciliation of net assets $5,985,693 net assets at year end

XI-1 Total revenue$17,078,899

XI-2 Total expenses$17,523,944

XI-3 Revenue less expenses−$445,045

XI-4 Net assets at start of year$6,430,738

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$5,985,693

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Synapse School FY2021 filing

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