Honored Foundation FY2021 filing

Washington, DC · Public charity (501(c)(3)) · Since 2016 · Education

✓ Tax-deductible
Revenue
$340K
+60% vs prior year
Spent
$264K
To programs
77%
Net assets
$154K
By yearFY2020–FY2025
Revenue
$340K
FY2021▲ +60%
Revenue by fiscal year
FY2020$213K
FY2021$340K
FY2022$371K
FY2023$446K
FY2024$424K
FY2025$383K
Expenses
$264K
FY2021▼ -23%
Expenses by fiscal year
FY2020$345K
FY2021$264K
FY2022$340K
FY2023$500K
FY2024$452K
FY2025$220K
Net assets
$154K
FY2021▲ +97%
Net assets by fiscal year
FY2020$78K
FY2021$154K
FY2022$185K
FY2023$131K
FY2024$104K
FY2025$267K

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CHonored Foundation
EINHdr · item D81-2204859
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFSep 2016
Year of formationHdr · item L2016
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CWashington, DC
NTEE classificationIRS BMFEducation (B12)
WebsiteHdr · item Jwww.honored.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.15 Fundraising $0.08
Program services77%$203K
Management & general15%$40K
Fundraising8%$21K
Total functional expensesLn 25$264K

Financial health

Is it on solid ground?

Program efficiency
77%
of spending reaches programs
Operating runway
6.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+22%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$161K
FY2021▲ +94%
Total assets by fiscal year
FY2020$83K
FY2021$161K
FY2022$195K
FY2023$142K
FY2024$110K
FY2025$269K
Total liabilities
$7K
FY2021▲ +52%
Total liabilities by fiscal year
FY2020$5K
FY2021$7K
FY2022$10K
FY2023$11K
FY2024$6K
FY2025$2K
Revenue less expensesPt I · Ln 19$76K
Total assetsPt X · Ln 16$161K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Balance Sheet

Part X · end of year
CashLn 1$146K
Total assetsLn 16$161K
Total liabilitiesLn 26$7K
Total net assetsLn 32$154K
Months of cash on handcomputed6.6

Statement of Revenue

Part VIII
Contributions & grants100%$340K
Total revenueLn 12$340K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $146K · Operating expenses (Pt IX) $264K · Less non-cash grants $9K · Cash operating expenses/yr $255K
6.8 months
Where the money goes
Program services
Program services $203K · Total expenses $264K
77%
Management & General
Management & general $40K · Total expenses $264K
15%
Fundraising
Fundraising $21K · Total expenses $264K
8%
Cost to raise $1
Fundraising expense (2-yr avg) $19K · Solicited contributions (2-yr avg) $275K
$0.07 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $340K · Total revenue $340K
100%
Government reliance
Government grants — · Total revenue $340K
—
Earned-income share
Program service revenue $0 · Total revenue $340K
0%
Investment reliance
Investment income $0 · Total revenue $340K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $264K
0%
Growth & trend
Revenue growth (YoY)
This year $340K · Prior year $213K
+60%
Net-asset trend (YoY)
End of year $154K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $340K · Expenses $264K
+22%
Liabilities-to-Assets
Total liabilities — · Total assets $161K
—
Net-asset ratio
Net assets $154K · Total assets $161K
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $161K
0%
People & payroll
Highest Reported Total Compensation
Individual Karen Sonneborn · Reported title Co-President & Director · Highest reported compensation $0 · Total expenses $264K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $115K · Total expenses $264K
44%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 15%——
Fundraising cost ratio 6%——
Revenue growth 60%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 6%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Co-President & Director
$0Pt VII · Sec A
Co-President & Director
$0Pt VII · Sec A
Board Secretary & Director
$0Pt VII · Sec A
Brd Chair & Dir Term End 04/21
$0Pt VII · Sec A
Board Treasurer & Director
$0Pt VII · Sec A
Board Chair & Director
$0Pt VII · Sec A
Director Term Beg 11/2021
$0Pt VII · Sec A

Kim Barrett’s $134K as Executive Director - Term End 10/2024 is at the 93rd 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

NameFY2024FY2023
Kim Barrett$133,569$82,500
Kim Barret—$82,500

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 Honored Foundation executive salaries →

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Governance & Policies

Part VI
  • 6Voting board membersPt VI · Ln 1a
  • 6Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Recognizes and rewards exceptional K-12 teachers for transforming students' lives.

Provided by the organization

This section is blank until Honored Foundation claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $203K of program spending, described in the organization's own filed words · FY2021.
01

Honoree Teacher Award Program

A program designed to keep great teachers in the classroom and to inspire a new generation of talent to pursue teaching. The program recognizes nominated teachers who have made a personal, academic, AND/OR inspirational impact on a student's life.

$203Kprogram expense

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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 4 funders$325K
See all 4 funders →
Grants paid · 12 grants · $501K · 2020–2025
Unitemized GrantFY2025$55,000
Unitemized GrantFY2024$55,000
Unitemized GrantFY2024$50,000
Unitemized GrantFY2023$45,000
Unitemized GrantFY2023$45,000
Unitemized GrantFY2023$40,000
Unitemized GrantFY2023$40,000
Unitemized GrantFY2022$50,000
Unitemized GrantFY2022$20,000
Unitemized GrantFY2022$3,000
Unitemized GrantFY2021$53,000
Unitemized GrantFY2020$45,000

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $383K$220K-10% 990 PDF
FY2024 $424K$452K-5% 990 PDF
FY2023 $446K$500K+20% 990 PDF
FY2022 $371K$340K+9% 990 PDF
FY2021 Viewing $340K$264K+60% 990 PDF
FY2020 $213K$345K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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