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Atlas Scholars

Tax-deductible

Houston, TX501(c)(3)EmploymentEIN 46-4210178Revenue $477K in FY2024

On file with the IRSatlasscholars.org3900 Essex Ln Ste 775, 77027-5395 · Houston, TXTax-exempt since Jul 2014Publicly supported charity — 170(b)(1)(A)(vi)

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The corporation is organized to provide disadvantaged students with exposure to financial markets and the energy industry and to provide them the opportunity to gain experience through meaningful experiences and valuable mentorship.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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 $30K a year · 8% 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
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
25 mo
of spending, in cash
Looks good: 24.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$20K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$477K
+62% vs prior year
Spent
$592K
To programs
64%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$477K
FY2024▲ +62%
Tap a bar for its year
Revenue by fiscal year
FY2020$528K
FY2021$295K
FY2022$294K
FY2023$294K
FY2024$477K
Expenses
$592K
FY2024▲ +62%
Tap a bar for its year
Expenses by fiscal year
FY2020$202K
FY2021$272K
FY2022$310K
FY2023$366K
FY2024$592K
Net assets
$1.3M
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.4M
FY2023$1.3M
FY2024$1.3M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2014.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $379K Management & general 3% · $21K Fundraising 33% · $192K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Kamari Brewer
Executive Director/Secretary
$0Pt VII · Sec A
Craig Taylor
President
$0Pt VII · Sec A
Tejpal Singh
Director
$0Pt VII · Sec A
Jay Mondkar
Treasurer
$0Pt VII · Sec A
Geoff Berg
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Atlas Scholars 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 15aNo

Programs and updates

Connects disadvantaged students with financial markets, energy industry, and mentorship.

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Provided by the organization

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1 program · $379K · in their own filed words · FY2024
01

Atlas Scholars Summer Institute is a core component of its three-year professional development program. Each summer, selected high school Scholars participate in an intensive, internship-style experience designed to build career readiness, leadership skills, and real-world knowledge.

$379Kprogram 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
American Online Giving Foundation INCFY2024$10K
Shell Oil Company FoundationFY2024$150
Total grants receivedfrom 2 funders$10K
Grants paid · 5 grants · $385K · 2020–2024
Unitemized GrantFY2024$70,940
Unitemized GrantFY2023$73,000
Unitemized GrantFY2022$91,000
Unitemized GrantFY2021$80,750
Unitemized GrantFY2020$69,250

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$477K
Ln 12
Gifts and grantsLn 1h$327K
Investment incomeLn 3$151K
Money outPt IX
$592K
Ln 25
Programscol B$379K
Managementcol C$21K
Fundraisingcol D$192K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$1.3M
LiabilitiesLn 26$20K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$327K
Noncash giftsLn 1g$19K
Fundraising eventsLn 1c$206K
Investment incomeLn 3$151K
Total revenueLn 12$477K
Assets in detailPt X, end of year
CashLn 1$165K
SavingsLn 2$1.1M
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$4K
Other assetsLn 15$5K
Total assetsLn 16$1.3M
LiabilitiesLn 26$20K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 528
VolunteersI 60
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$1.3M$1.2M
Land, buildings, equipmentLn 10c$2K$4K
Total assetsLn 16$1.4M$1.3M
LiabilitiesLn 26$47K$20K
Net assetsLn 32$1.4M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$145K$145K
Pay of current officers, directors and key staffLn 5$93K$93K$0$0
Other salaries and wagesLn 7$70K$70K$0$0
Payroll taxesLn 10$4K$4K$0$0
Management feesLn 11a$6K$5K$1K$0
Accounting feesLn 11c$7K$6K$1K$0
Investment management feesLn 11f$12K$0$0$12K
Other fees for servicesLn 11g$28K$28K$0$0
Office expensesLn 13$4$4$0$0
OccupancyLn 16$15K$0$15K$0
TravelLn 17$1K$0$1K$0
InsuranceLn 23$29K$27K$2K$0
Other expenses (24a–d)Ln 24$181K$885$0$180K
Total functional expensesLn 25$592K$379K$21K$192K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $477K$592K−$114K$1.3M 990 PDF
FY2023 $294K$366K−$72K$1.3M 990 PDF
FY2022 $294K$310K−$16K$1.4M 990 PDF
FY2021 $295K$272K$23K$1.4M 990 PDF
FY2020 $528K$202K$326K$1.4M 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 $477,346 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $126,006$326,551
I-9 Program service revenue$0
I-10 Investment incomePrior year $167,871$150,795
I-11 Other revenue$0
I-12 Total revenuePrior year $293,877$477,346
I-13 Grants and similar amounts paidPrior year $73,000$145,013
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $133,622$166,958
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $159,236$279,577
I-18 Total expensesPrior year $365,858$591,548
I-19 Revenue less expensesPrior year −$71,981−$114,202
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $477,346 across 6 lines filed
VIII-1c Fundraising events$205,632
VIII-1f All other contributions, gifts and grants$120,919
VIII-1g Noncash contributions (included above)$19,210
VIII-1h Total contributions, gifts and grants$326,551
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $150,795$150,795
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $150,795$477,346
Part IX · Statement of functional expenses $591,548 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $145,013$145,013
IX-5 Pay of current officers, directors and key staffPrograms $92,949 · Management $0 · Fundraising $0$92,949
IX-7 Other salaries and wagesPrograms $70,000 · Management $0 · Fundraising $0$70,000
IX-10 Payroll taxesPrograms $4,009 · Management $0 · Fundraising $0$4,009
IX-11a Management feesPrograms $4,950 · Management $1,152 · Fundraising $0$6,102
IX-11c Accounting feesPrograms $5,906 · Management $1,225 · Fundraising $0$7,131
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $12,493$12,493
IX-11g Other fees for servicesPrograms $28,370 · Management $0 · Fundraising $0$28,370
IX-13 Office expensesPrograms $4 · Management $0 · Fundraising $0$4
IX-16 OccupancyPrograms $0 · Management $14,760 · Fundraising $0$14,760
IX-17 TravelPrograms $0 · Management $1,429 · Fundraising $0$1,429
IX-23 InsurancePrograms $26,542 · Management $1,998 · Fundraising $0$28,540
IX-24 Other expenses (24a–d)Programs $885 · Management $0 · Fundraising $179,863$180,748
IX-25 Total functional expensesPrograms $378,628 · Management $20,564 · Fundraising $192,356$591,548
Part X · Balance sheet $1,271,317 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $275,572$165,096
X-2 Savings and temporary cash investmentsStart of year $1,019,244$1,056,584
X-4 Accounts receivableStart of year $10,000$41,000
X-10c Land, buildings and equipment, netStart of year $1,857$3,597
X-15 Other assets$5,040
X-16 Total assetsStart of year $1,402,742$1,271,317
X-17 Accounts payable and accrued expensesStart of year $870$19,927
X-26 Total liabilitiesStart of year $47,490$19,927
X-32 Total net assets or fund balancesStart of year $1,355,252$1,251,390
X-33 Total liabilities and net assetsStart of year $1,402,742$1,271,317
Part XI · Reconciliation of net assets $1,251,390 net assets at year end
XI-1 Total revenue$477,346
XI-2 Total expenses$591,548
XI-3 Revenue less expenses−$114,202
XI-4 Net assets at start of year$1,355,252
XI-9 Other changes in net assets$10,340
XI-10 Net assets at end of year$1,251,390

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

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