Eyol INC FY2022 filing

Tax-deductible

Newburyport, MA501(c)(3)Since 2016EducationEIN 81-4201446

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To nurture the next generation of impact focused entrepreneurs in science, technology and education.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$200K 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
4 of 5
filings with a surplus
Average surplus $2.7M a year · 53% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$200K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
32 mo
of spending, in cash
Looks good: 32.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $7.6M
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
18% of total assets
Looks good: liabilities are 18% 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
$7.7M
×16 vs prior year
Spent
$2.5M
To programs
75%
Net assets
$5.4M
By yearFY2020–FY2024
Revenue
$7.7M
FY2022▲ ×16
Revenue by fiscal year
FY2020$703K
FY2021$493K
FY2022$7.7M
FY2023$715K
FY2024$16.2M
FY2024$7.8M
Expenses
$2.5M
FY2022▲ +399%
Expenses by fiscal year
FY2020$611K
FY2021$491K
FY2022$2.5M
FY2023$3.0M
FY2024$5.7M
FY2024$9.1M
Net assets
$5.4M
FY2022▲ ×41
Net assets by fiscal year
FY2020$129K
FY2021$131K
FY2022$5.4M
FY2023$3.1M
FY2024$13.6M
FY2024$12.4M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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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 2016.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $1.8M Management & general 11% · $279K Fundraising 14% · $331K

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; $200K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President/Treasurer/Clerk
$100,000Pt VII · Sec A
Executive Director
$100,000Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Diana Saville’s $255K as President/Tr is at the 91st percentile of top reported officer pay among 3395 $1–10M 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 · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Michael McCullough$225,000$273,193$517,801——
Diana Saville$255,000$201,667$502,401$100,000$166,667
Calvin Nguyen——$402,401$100,000$166,667

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 Eyol 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 15aYes
  • Loans to or from officersSch L · Pt II3 listed

Programs and updates

Nurtures future entrepreneurs in science, technology, and education.

Provided by the organization

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1 program · $1.8M · in their own filed words · FY2021
01

Entrepreneur of your own life inc. Is designed to empower future entrepreneurs while helping seed-stage social ventures gain traction and create sustainable impact. We provide mentorship and entrepreneurial experiences to underserved students through our summer and term-time internship programs, and we provide fiscal sponsorship through…

$1.8Mprogram 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 4 funders$7.6M
See all 4 funders →
Grants paid · 13 grants · $13.0M · 2019–2024
Adec Clinical Research LaboratoriesFY2024$3,450,000
Alzheimer's Disease EducationFY2024$2,200,000
Open Mind AiFY2024$1,000,000
Individual RecipientFY2024$500,000
Alzheimer's Disease Education Consultants INCFY2023$1,424,000
Open Mind AiFY2023$1,320,000
Retain Health INCFY2023$615,000
Retain Health INCFY2022$1,030,000
Cohen Veterans Bioscience INCMA · FY2022$615,000
Alzheimer's Disease Education Consultants INCFY2022$200,000
Retain Health INCFY2021$355,000

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$7.7M
Ln 12
Gifts and grantsLn 1h$7.7M
Investment incomeLn 3$112
Money outPt IX
$2.5M
Ln 25
Programscol B$1.8M
Managementcol C$279K
Fundraisingcol D$331K
Owns and owesPt X
$5.4M
net assets · Ln 32
Cash and savingsLn 1–2$6.6M
Total assetsLn 16$6.6M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.7M
Government grantsLn 1e$42K
Investment incomeLn 3$112
Total revenueLn 12$7.7M
Assets in detailPt X, end of year
CashLn 1$6.2M
SavingsLn 2$385K
Cash and savings togetherLn 1–2$6.6M
Total assetsLn 16$6.6M
LiabilitiesLn 26$1.2M
Net assetsLn 32$5.4M
OperationsPt I, VI
EmployeesI 55
VolunteersI 645
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$476K$6.6M
Total assetsLn 16$476K$6.6M
LiabilitiesLn 26$345K$1.2M
Net assetsLn 32$131K$5.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$355K$355K
Pay of current officers, directors and key staffLn 5$1.7M$1.2M$172K$327K
Other salaries and wagesLn 7$4K$4K
Payroll taxesLn 10$30K$24K$3K$3K
Legal feesLn 11b$3K$2K$1K
Accounting feesLn 11c$28K$28K
Other fees for servicesLn 11g$109K$109K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$56K$53K$4K$73
Information technologyLn 14$15K$13K$2K
TravelLn 17$32K$32K$85
Conferences, conventions and meetingsLn 19$13K$13K
Other expenses (24a–d)Ln 24$101K$36K$65K
All other expensesLn 24e$8K$8K
Total functional expensesLn 25$2.5M$1.8M$279K$331K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $16.2M$5.7M$10.5M$13.6M 990 PDF
FY2023 $715K$3.0M−$2.3M$3.1M 990 PDF
FY2022 Viewing $7.7M$2.5M$5.3M$5.4M 990 PDF
FY2021 $493K$491K$2K$131K 990 PDF
FY2020 $703K$611K$91K$129K 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 (4 parts)
Part VIII · Statement of revenue $7,711,988 across 5 lines filed
VIII-1e Government grants$41,667
VIII-1f All other contributions, gifts and grants$7,670,209
VIII-1h Total contributions, gifts and grants$7,711,876
VIII-3 Investment incomeExcluded from tax $112$112
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $112$7,711,988
Part IX · Statement of functional expenses $2,453,368 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $355,000$355,000
IX-5 Pay of current officers, directors and key staffPrograms $1,190,090 · Management $172,148 · Fundraising $326,731$1,688,969
IX-7 Other salaries and wagesManagement $4,159$4,159
IX-10 Payroll taxesPrograms $23,637 · Management $3,131 · Fundraising $3,053$29,821
IX-11b Legal feesPrograms $2,005 · Fundraising $1,350$3,355
IX-11c Accounting feesManagement $27,896$27,896
IX-11g Other fees for servicesPrograms $109,445$109,445
IX-12 Advertising and promotionPrograms $9,202$9,202
IX-13 Office expensesPrograms $52,643 · Management $3,547 · Fundraising $73$56,263
IX-14 Information technologyPrograms $12,966 · Management $2,139$15,105
IX-17 TravelPrograms $32,183 · Management $85$32,268
IX-19 Conferences, conventions and meetingsPrograms $12,613$12,613
IX-24 Other expenses (24a–d)Programs $35,558 · Management $65,483$101,041
IX-24e All other expensesPrograms $8,231$8,231
IX-25 Total functional expensesPrograms $1,843,573 · Management $278,588 · Fundraising $331,207$2,453,368
Part X · Balance sheet $6,594,709 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $216,120$6,209,306
X-2 Savings and temporary cash investmentsStart of year $260,007$385,403
X-16 Total assetsStart of year $476,127$6,594,709
X-17 Accounts payable and accrued expensesStart of year $188,017$176,119
X-25 Other liabilitiesStart of year $41,667$0
X-26 Total liabilitiesStart of year $345,143$1,205,105
X-27 Net assets without donor restrictionsStart of year $130,984$5,327,037
X-28 Net assets with donor restrictions$62,567
X-32 Total net assets or fund balancesStart of year $130,984$5,389,604
X-33 Total liabilities and net assetsStart of year $476,127$6,594,709
Part XI · Reconciliation of net assets $5,389,604 net assets at year end
XI-1 Total revenue$7,711,988
XI-2 Total expenses$2,453,368
XI-3 Revenue less expenses$5,258,620
XI-4 Net assets at start of year$130,984
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,389,604

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

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