Psa Education INC

IRS exemption revoked

Putnam, CTUnknown exempt organizationEIN 81-3540141

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PSA Education Inc is a non-profit orgazation to provide educational services.It strives to develop young adults, locally and from around the world, who are committed to academic excellence and are engaged citizens.

99¢ of each $1 spent went to programs.
Run by 2 volunteers and 71 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $53
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.6M
111% of total assets
Concern: liabilities are 111% of assets; over 80%.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.2M
Spent
$6.0M
To programs
99%
Net assets
−$773K

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

IRS revoked this organization's tax-exempt status on November 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $5.9M Management & general 1% · $80K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
See Psa Education INC 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

Develops young adults for academic excellence and engaged citizenship through educational services.

Provided by the organization

This section is blank until Psa Education INC claims this page.

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1 program service account for $5.9M of program spending, described in the organization's own filed words · FY2020.
01

Putnam Provides Programs

English/Language arts program develop students skills in composition and writing and are designed to acquaint students with major cultural and aesthetic movement of American Literature and British Literature. Mathematic program provides opportunity to realize potential as a critical and logical thinker.

$5.9Mprogram 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 · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$53

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$5.2M
Ln 12
Fees for servicesLn 2g$5.2M
Gifts and grantsLn 1h$12K
Other incomeLn 4–11$66
Money outPt IX
$6.0M
Ln 25
Programscol B$5.9M
Managementcol C$80K
Owns and owesPt X
−$773K
net assets · Ln 32
Cash and savingsLn 1–2$51K
Total assetsLn 16$6.8M
LiabilitiesLn 26$7.6M
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12K
Government grantsLn 1e$8K
Fees for servicesLn 2g$5.2M
Other incomeLn 4–11$66
Total revenueLn 12$5.2M
Assets in detailPt X, end of year
CashLn 1$51K
Cash and savings togetherLn 1–2$51K
Land, buildings, equipmentLn 10c$5.7M
Other assetsLn 15$117K
Total assetsLn 16$6.8M
LiabilitiesLn 26$7.6M
Net assetsLn 32−$773K
OperationsPt I, VI
EmployeesI 571
VolunteersI 62
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$51K
Land, buildings, equipmentLn 10c$5.7M
Total assetsLn 16$0$6.8M
LiabilitiesLn 26$0$7.6M
Net assetsLn 32$0−$773K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$457K$457K
Other employee benefitsLn 9$40K$40K
Payroll taxesLn 10$37K$37K
Management feesLn 11a$36K$36K
Legal feesLn 11b$31K$31K
Other fees for servicesLn 11g$14K$14K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$3K$3K
OccupancyLn 16$64K$64K
TravelLn 17$10K$10K
InterestLn 20$22K$22K
Depreciation, depletion and amortizationLn 22$80K$80K
InsuranceLn 23$69K$69K
Other expenses (24a–d)Ln 24$5.1M$5.1M
All other expensesLn 24e$23K$23K
Total functional expensesLn 25$6.0M$5.9M$80K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $5.2M$6.0M−$773K−$773K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $5,221,827 across 6 lines filed
VIII-1e Government grants$8,370
VIII-1f All other contributions, gifts and grants$4,000
VIII-1h Total contributions, gifts and grants$12,370
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,209,391$5,209,391
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $66$66
VIII-12 Total revenueRelated to mission $5,209,457 · Unrelated business $0 · Excluded from tax $0$5,221,827
Part IX · Statement of functional expenses $5,994,494 across 15 lines filed
IX-7 Other salaries and wagesPrograms $456,690$456,690
IX-9 Other employee benefitsPrograms $39,517$39,517
IX-10 Payroll taxesPrograms $37,369$37,369
IX-11a Management feesManagement $35,504$35,504
IX-11b Legal feesManagement $30,657$30,657
IX-11g Other fees for servicesManagement $14,090$14,090
IX-12 Advertising and promotionPrograms $13,710$13,710
IX-13 Office expensesPrograms $2,867$2,867
IX-16 OccupancyPrograms $63,825$63,825
IX-17 TravelPrograms $10,000$10,000
IX-20 InterestPrograms $21,794$21,794
IX-22 Depreciation, depletion and amortizationPrograms $79,541$79,541
IX-23 InsurancePrograms $68,842$68,842
IX-24 Other expenses (24a–d)Programs $5,096,746$5,096,746
IX-24e All other expensesPrograms $23,342$23,342
IX-25 Total functional expensesPrograms $5,914,243 · Management $80,251 · Fundraising $0$5,994,494
Part X · Balance sheet $6,800,354 assets, 14 lines filed
X-1 Cash, non-interest-bearing$50,612
X-4 Accounts receivable$257,799
X-10c Land, buildings and equipment, net$5,725,410
X-14 Intangible assets$649,998
X-15 Other assets$116,535
X-16 Total assetsStart of year $0$6,800,354
X-17 Accounts payable and accrued expenses$108,438
X-19 Deferred revenue$653,061
X-24 Unsecured notes and loans payable$1,139,165
X-25 Other liabilities$5,672,357
X-26 Total liabilitiesStart of year $0$7,573,021
X-27 Net assets without donor restrictions−$772,667
X-32 Total net assets or fund balancesStart of year $0−$772,667
X-33 Total liabilities and net assetsStart of year $0$6,800,354
Part XI · Reconciliation of net assets −$772,667 net assets at year end
XI-1 Total revenue$5,221,827
XI-2 Total expenses$5,994,494
XI-3 Revenue less expenses−$772,667
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$772,667

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

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