Acton Academy DC Foundation FY2022 filing

Tax-deductible

Washington, DC501(c)(3)EducationEIN 47-4108671Revenue $221K in FY2022

On file with the IRS2737 Devonshire Pl Nw Apt 425, 20008-3469 · Washington, DCTax-exempt since Nov 2015Publicly supported — 509(a)(2)

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Our mission is to inspire children and parents to develop an entrepreneurial mindset, discover a calling, and change the world.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$115K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
1 of 3
filings with a surplus
Average surplus $15K a year · 6% of revenue · last 3 filings
Worth a look: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$115K
to officers and key staff · 42% of spending
Concern: pay to officers and key staff is 42% of spending; over 30%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$10K
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$221K
+71% vs prior year
Spent
$277K
To programs
94%
Net assets
$26K
By yearFY2020–FY2024
Revenue
$221K
FY2022▲ +71%
Tap a bar for its year
Revenue by fiscal year
FY2020$373K
FY2021$129K
FY2022$221K
FY2023$235K
FY2024$138K
Expenses
$277K
FY2022▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$242K
FY2021Not on file
FY2022$277K
FY2023$265K
FY2024Not on file
Net assets
$26K
FY2022▼ -69%
Tap a bar for its year
Net assets by fiscal year
FY2020$198K
FY2021$81K
FY2022$26K
FY2023−$4K
FY2024$44K

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2015.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $260K Management & general 2% · $5K Fundraising 4% · $12K

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

4 people listed on the 990; $115K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$90,000Pt VII · Sec A
$25,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Nicole Spencer’s $35K as Secretary is at the 27th percentile of top reported officer pay among 1613 $100K–1M 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David Kirby$10,000$75,000$90,000$90,000$80,048
Nicole Spencer$35,000$23,017$25,000$25,000$25,016

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 Acton Academy DC Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Inspires children and parents to discover their calling and change the world.

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Provided by the organization

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3 programs · $260K · in their own filed words · FY2022
01

Acton Learning Prizes & Innovation Awards celebrate excellence among the 300+ Acton Academy Network schools and encourage innovations to make Actons simpler, better, and less expensive to form.

$206Kprogram expense
02

Acton Venture Fund accelerates the growth of the Acton Academy network. The program finds, funds, and supports exceptional Acton network entrepreneurs.

$39Kprogram expense
03

The Acton Childrens Business Fair of Washington, DC is a one-day event where children ages 6-14 become entrepreneurs for a day. Children create a business, sell to real customers, and keep the profits. Along the way, children learn about entrepreneurship but, more importantly, about themselves and what they are capable of.

$15Kprogram 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 1 funder$25K
Grants paid · 2 grants · $76K · 2020–2023
Acton Academy of Washington DFY2023$53,500
Acton Academy of Washington DFY2020$22,500

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$221K
Ln 12
Gifts and grantsLn 1h$220K
Fees for servicesLn 2g$2K
Money outPt IX
$277K
Ln 25
Programscol B$260K
Managementcol C$5K
Fundraisingcol D$12K
Owns and owesPt X
$26K
net assets · Ln 32
Cash and savingsLn 1–2$36K
Total assetsLn 16$36K
LiabilitiesLn 26$10K
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$220K
Fees for servicesLn 2g$2K
Gains on assetsLn 7$0
Total revenueLn 12$221K
Assets in detailPt X, end of year
CashLn 1$36K
SavingsLn 2$0
Cash and savings togetherLn 1–2$36K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$1
Total assetsLn 16$36K
LiabilitiesLn 26$10K
Net assetsLn 32$26K
OperationsPt I, VI
EmployeesI 52
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
LineStart FY22End FY22
Cash and savingsLn 1–2$81K$36K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$81K$36K
LiabilitiesLn 26$0$10K
Net assetsLn 32$81K$26K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$115K$104K$12K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$15K$15K
Payroll taxesLn 10$9K$8K$942
Management feesLn 11a$0
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$1K$1K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$38K$38K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$4K$4K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$82K$82K
TravelLn 17$4K$4K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$2K$2K
All other expensesLn 24e$0
Total functional expensesLn 25$277K$260K$5K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $138K$44K 990 PDF
FY2023 $235K$265K−$29K−$4K 990 PDF
FY2022 Viewing $221K$277K−$56K$26K 990 PDF
FY2021 $129K$81K 990 PDF
FY2020 $373K$242K$131K$198K 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 FY2022 990 (6 parts)
Part I · Summary $221,139 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $129,400$219,500
I-9 Program service revenue$1,639
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $129,400$221,139
I-13 Grants and similar amounts paidPrior year $13,800$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $135,780$139,228
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $96,435$137,710
I-18 Total expensesPrior year $246,015$276,938
I-19 Revenue less expensesPrior year −$116,615−$55,799
Part VI · Governance 2 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $221,139 across 9 lines filed
VIII-1f All other contributions, gifts and grants$219,500
VIII-1h Total contributions, gifts and grants$219,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,639$1,639
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $1,639$221,139
Part IX · Statement of functional expenses $276,938 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $103,500 · Fundraising $11,500$115,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $14,809$14,809
IX-10 Payroll taxesPrograms $8,477 · Fundraising $942$9,419
IX-11a Management fees$0
IX-11b Legal feesManagement $3,712$3,712
IX-11c Accounting feesManagement $1,000$1,000
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $37,550$37,550
IX-12 Advertising and promotionPrograms $2,006$2,006
IX-13 Office expensesPrograms $4,023$4,023
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $82,361$82,361
IX-17 TravelPrograms $3,522$3,522
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $2,004$2,004
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $1,532$1,532
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $259,784 · Management $4,712 · Fundraising $12,442$276,938
Part X · Balance sheet $35,518 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $81,446$35,517
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$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$1
X-16 Total assetsStart of year $81,446$35,518
X-17 Accounts payable and accrued expenses$9,871
X-26 Total liabilitiesStart of year $0$9,871
X-27 Net assets without donor restrictionsStart of year $81,446$25,647
X-32 Total net assets or fund balancesStart of year $81,446$25,647
X-33 Total liabilities and net assetsStart of year $81,446$35,518
Part XI · Reconciliation of net assets $25,647 net assets at year end
XI-1 Total revenue$221,139
XI-2 Total expenses$276,938
XI-3 Revenue less expenses−$55,799
XI-4 Net assets at start of year$81,446
XI-10 Net assets at end of year$25,647

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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