The Thinking Project Institute EIN 82-2269798

The Thinking Project Institute

EIN  82-2269798 Public charity (501(c)(3)) Philadelphia, PA
Form 990 (PDF) Compare with another nonprofit →
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Size
<$100K
What they do
Inspiring critical thinking and inquiry in students worldwide.
Leadership
Rachel Pickett · President · $108K
Money in and out
$81K revenue, $155K expenses
Bottom line
1.6mo operating runway

Inspiring critical thinking and inquiry in students worldwide. For fiscal year 2024 it reported $81K in revenue, $155K in expenses, and $20K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$81K
Pt VIII · Ln 12
Total expenses
$155K
Pt IX · Ln 25
Net assets
$20K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$75K
Where spending went · Part IX cols B–D
Program services $0.65
Operating runway
1.6mo
months of highly liquid reserves at operating expense rate▼ -70% vs prior filing year
Surplus margin
-93%
revenue over expenses, this year▼ -742% vs prior filing year
Revenue trend
-20%
avg. annual growth over 5 years▼ -3129% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$81K
FY2024▼ -68%
Expenses
$155K
FY2024▼ -27%
Total assets
$22K
FY2024▼ -77%
Total liabilities
$2K
FY2024▲ +5%
Total revenue
$81K
Pt VIII · Ln 12
Total expenses
$155K
Pt IX · Ln 25
Net assets
$20K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$75K
Total assetsPt X · Ln 16$22K
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 3pending
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

3 program services account for $147K of program spending, described in the organization's own filed words · FY2023.
01

Framework Development

In FY23, we began developing a new set of classroom frameworks adapted from our earlier comprehensive curriculum. These frameworks were designed to be flexible and reusable-something teachers could apply across a range of classroom settings, whether exploring academic content, historical thinking, social dynamics, or their students' own…

$49Kprogram expense
02

Educator Interviews

In the fall of 2023 and early winter of 2024, we conducted 54 one-on-one interviews with educators to understand the most common and stressful problems they face in their daily work. These interviews were the first step in our growth-focused strategy, helping us learn which challenges feel most urgent to teachers and begin exploring how…

$49Kprogram expense
03

Framework Testing & Pilots

In late winter through summer of 2024, we interviewed over 25 educators to learn whether they thought simple, adaptable classroom frameworks could help address the two most urgent problems identified in earlier interviews: strained relationships and limited perspective-taking.

$49Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Thinking Project Institute
EINHdr · item D82-2269798
Principal addressHdr · item CPhiladelphia, PA
WebsiteHdr · item Jwww.thethinkingproject.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MPA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFOct 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$108,400Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Rachel Pickett’s $108K as President is at the 96th percentile of top reported officer pay among 144 <$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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Rachel Pickett$108,400$107,933$94,188$98,586$72,667$68,333
Korrine Akridge$58,854$40,500$16,667
Natasha Blitz-Jones$46,493$10,885
Kathleen Bullock$915

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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Statement of Revenue

Part VIII
Other revenue100%$81K
Total revenueLn 12$81K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65
Program services65%$101K
Total functional expensesLn 25$155K

Balance Sheet

Part X · end of year
CashLn 1
Total assetsLn 16$22K
Total liabilitiesLn 26$2K
Total net assetsLn 32$20K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $21K · Operating expenses/yr $155K
1.6 months
Where the money goes
Program services
not reported
Management & General
not reported
Fundraising
not reported
Cost to raise $1
not reported
Where the money comes from
Contribution dependence
Contributions & grants $81K · Total revenue $81K
100%
Government reliance
not reported
Earned-income share
Program service revenue — · Total revenue $81K
Investment reliance
Investment income — · Total revenue $81K
Program self-sufficiency
Program service revenue — · Total expenses $155K
Rests on the self-reported EZ program figure
Growth & trend
Revenue growth (YoY)
This year $81K · Prior year $249K
-68%
Revenue CAGR
FY2019 $242K · FY2024 $81K
-20%
Net-asset trend (YoY)
End of year $20K · Beginning of year $95K
-79%
Balance sheet
Surplus Margin
Revenue $81K · Expenses $155K
-93%
Liabilities-to-Assets
Total liabilities $2K · Total assets $22K
8%
Net-asset ratio
Net assets $20K · Total assets $22K
92%
People & payroll
Highest Reported Total Compensation
Individual Rachel Pickett · Reported title PRESIDENT · Highest reported compensation $108K · Total expenses $155K
70%
Personnel share
Salaries & benefits $118K · Total expenses $155K
76%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 65%
Revenue growth -68%

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.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$160K
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$249K revenue · ⤓ 990 PDF
FY2023$221K revenue · ⤓ 990 PDF
FY2022$273K revenue · ⤓ 990 PDF
FY2021$218K revenue · ⤓ 990 PDF
FY2020$242K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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