Ecole 42 USA FY2020 filing

Tax-deductible

Fremont, CA501(c)(3)EducationEIN 81-2457574Revenue $4.9M in FY2020

On file with the IRS42.us.org6600 Dumbarton Cir, 94555-3615 · Fremont, CATax-exempt since Oct 2017School — 170(b)(1)(A)(ii)

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We are free software engineering school, specializing in teaching students the skills to be a successful software engineer in the growing tech industry, as well as in developing their own businesses and enterprises.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
$302K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $2.2M a year · 158% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$302K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$813K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.9M
Spent
$6.4M
To programs
67%
Net assets
$5.2M
By yearFY2020–FY2022
Revenue
$4.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$4.9M
FY2021−$1.3M
FY2022$568K
Expenses
$6.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$6.4M
FY2021$4.2M
FY2022$224K
Net assets
$5.2M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$5.2M
FY2021−$309K
FY2022$36K

From the FY2020 Form 990 (year ending September 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022. IRS ruling in Oct 2017.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $4.3M Management & general 33% · $2.1M

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

6 people listed on the 990; $302K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Chief Academic Officer
$150,990Pt VII · Sec A
Former Managing Director
$114,607Pt VII · Sec A
Former Executive Director
$36,410Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Managing Director
$0Pt VII · Sec A

Christophe S Assadi’s $223K as Interim CFO is at the 98th percentile of top reported officer pay among 146 <$100K 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 · 4 named individuals · Part VII

NameFY2022FY2021FY2020
Christophe S Assadi$222,887——
Ulises Zatarain—$157,822$36,410
Gaetan Juvin——$150,990
Kwame Yamgnane——$114,607

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Teaches students software engineering skills for tech careers and entrepreneurship.

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Provided by the organization

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1 program · $4.3M · in their own filed words · FY2019
01

The organization developed and implemented an educational program that utilizes an innovative pedagogical approach: project based learning, peer-to-peer learning, program gamification and removal of time barriers. Programs areas are k-12, college level and professional development.

$4.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2019
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$4.9M
Ln 12
Gifts and grantsLn 1h$4.6M
Fees for servicesLn 2g$292K
Money outPt IX
$6.4M
Ln 25
Programscol B$4.3M
Managementcol C$2.1M
Owns and owesPt X
$5.2M
net assets · Ln 32
Cash and savingsLn 1–2$82K
Total assetsLn 16$6.0M
LiabilitiesLn 26$813K
PeoplePt VI, VII
6
listed · VII A
PaidVII A3
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.6M
Fees for servicesLn 2g$292K
Total revenueLn 12$4.9M
Assets in detailPt X, end of year
CashLn 1$82K
Cash and savings togetherLn 1–2$82K
Land, buildings, equipmentLn 10c$5.7M
Other assetsLn 15$11K
Total assetsLn 16$6.0M
LiabilitiesLn 26$813K
Net assetsLn 32$5.2M
OperationsPt I, VI
EmployeesI 524
VolunteersI 625
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$389K$82K
Land, buildings, equipmentLn 10c$6.6M$5.7M
Total assetsLn 16$7.1M$6.0M
LiabilitiesLn 26$423K$813K
Net assetsLn 32$6.7M$5.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$84K$25K$58K
Other salaries and wagesLn 7$1.2M$360K$841K
Pension plan contributionsLn 8$17K$8K$8K
Other employee benefitsLn 9$182K$73K$109K
Payroll taxesLn 10$101K$30K$70K
Legal feesLn 11b$39K$39K
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$37K$37K
Advertising and promotionLn 12$2K$2K$463
Office expensesLn 13$460K$446K$13K
Information technologyLn 14$76K$76K
OccupancyLn 16$3.0M$2.4M$605K
TravelLn 17$2K$2K$472
Depreciation, depletion and amortizationLn 22$916K$733K$183K
InsuranceLn 23$69K$55K$14K
Other expenses (24a–d)Ln 24$149K$141K$8K
All other expensesLn 24e$1K$695$404
Total functional expensesLn 25$6.4M$4.3M$2.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $568K$224K$345K$36K 990 PDF
FY2021 −$1.3M$4.2M−$5.5M−$309K 990 PDF
FY2020 Viewing $4.9M$6.4M−$1.5M$5.2M 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 FY2020 990 (6 parts)
Part I · Summary $4,894,489 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,762,203$4,602,145
I-9 Program service revenuePrior year $501,306$292,344
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $6,263,509$4,894,489
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,509,837$1,584,594
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,375,032$4,789,276
I-18 Total expensesPrior year $6,884,869$6,373,870
I-19 Revenue less expensesPrior year −$621,360−$1,479,381
Part VI · Governance 1 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,894,489 across 4 lines filed
VIII-1d Related organizations$4,602,145
VIII-1h Total contributions, gifts and grants$4,602,145
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $292,344$292,344
VIII-12 Total revenueRelated to mission $292,344 · Unrelated business $0 · Excluded from tax $0$4,894,489
Part IX · Statement of functional expenses $6,373,870 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $25,054 · Management $58,458$83,512
IX-7 Other salaries and wagesPrograms $360,444 · Management $841,037$1,201,481
IX-8 Pension plan contributionsPrograms $8,463 · Management $8,463$16,926
IX-9 Other employee benefitsPrograms $72,838 · Management $109,258$182,096
IX-10 Payroll taxesPrograms $30,174 · Management $70,405$100,579
IX-11b Legal feesManagement $38,690$38,690
IX-11c Accounting feesManagement $11,665$11,665
IX-11g Other fees for servicesManagement $37,028$37,028
IX-12 Advertising and promotionPrograms $1,850 · Management $463$2,313
IX-13 Office expensesPrograms $446,190 · Management $13,353$459,543
IX-14 Information technologyManagement $76,407$76,407
IX-16 OccupancyPrograms $2,420,956 · Management $605,239$3,026,195
IX-17 TravelPrograms $1,889 · Management $472$2,361
IX-22 Depreciation, depletion and amortizationPrograms $732,586 · Management $183,146$915,732
IX-23 InsurancePrograms $55,308 · Management $13,827$69,135
IX-24 Other expenses (24a–d)Programs $141,294 · Management $7,814$149,108
IX-24e All other expensesPrograms $695 · Management $404$1,099
IX-25 Total functional expensesPrograms $4,297,741 · Management $2,076,129 · Fundraising $0$6,373,870
Part X · Balance sheet $6,018,066 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $389,152$82,343
X-4 Accounts receivableStart of year $1,000$127,000
X-9 Prepaid expenses and deferred chargesStart of year $62,128$73,421
X-10c Land, buildings and equipment, netStart of year $6,639,604$5,723,872
X-15 Other assetsStart of year $17,932$11,430
X-16 Total assetsStart of year $7,109,816$6,018,066
X-17 Accounts payable and accrued expensesStart of year $348,779$402,524
X-24 Unsecured notes and loans payableStart of year $0$312,500
X-25 Other liabilitiesStart of year $73,909$97,554
X-26 Total liabilitiesStart of year $422,688$812,578
X-32 Total net assets or fund balancesStart of year $6,687,128$5,205,488
X-33 Total liabilities and net assetsStart of year $7,109,816$6,018,066
Part XI · Reconciliation of net assets $5,205,488 net assets at year end
XI-1 Total revenue$4,894,489
XI-2 Total expenses$6,373,870
XI-3 Revenue less expenses−$1,479,381
XI-4 Net assets at start of year$6,687,128
XI-9 Other changes in net assets−$2,259
XI-10 Net assets at end of year$5,205,488

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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