Heterodox Academy: FY2020 Nonprofit Profile & Form 990 (EIN 82-2903153)

John Tomasi’s $536K as President is at the 100th 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 · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
John Tomasi	$535,630	$482,922	$466,321	$82,302	—	—
Michael Regnier	$254,553	$230,468	$80,568	—	—	—
Debra Mashek	—	—	—	—	$206,643	$233,922
Manon Loustaunau	—	—	—	$155,536	$135,559	$71,254
Nicole Barbaro Simovski	$139,923	$146,384	—	—	—	—
Martha McCaughey	$125,774	—	—	—	—	—
Alexander R Arnold	$119,680	—	—	—	—	—
Kyle Sebastian Vitale	—	—	$117,292	—	—	—

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

Promotes open inquiry, diverse viewpoints, and constructive disagreement to improve university research and education.

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1 program · $1.2M · in their own filed words · FY2019

01

Annual conference

$1.2Mprogram 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

Vanguard Charitable Endowment ProgramFY2024$538K

Beth and Ravenel Curry FoundationFY2024$250K

Thomas W Smith Foundation INCFY2024$250K

Jewish Communal FundFY2024$200K

Arthur Vining Davis Foundation #2FY2024$180K

The Margaret and Daniel Loeb FoundationFY2024$100K

Massachusetts Institute of TechnologyFY2024$100K

Robin and Sandy Stuart FoundationFY2024$75K

Total grants receivedfrom 25 funders$2.0M

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Grants paid · 16 grants · $271K · 2020–2024

Unitemized GrantFY2024$23,048

Unitemized GrantFY2023$35,842

Unitemized GrantFY2023$7,200

Unitemized GrantFY2022$6,178

Western Michigan University FoundationMI · FY2021$30,000

Urban Rural ActionDC · FY2021$26,397

University of DelawareDE · FY2021$22,319

Brigham Young UniversityUT · FY2021$20,166

Unitemized GrantFY2021$18,156

Bradley Study CenterVA · FY2021$15,325

Trinity UniversityTX · FY2021$15,100

Grumman Hill Montessori AssociationCT · FY2021$11,772

Regents of the University of California at RiversideCA · FY2021$8,368

Let Grow INCNY · FY2021$8,310

University of North Carolina at Chapel HillNC · FY2021$6,650

Unitemized GrantFY2020$15,980

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.1M

Ln 12

Gifts and grantsLn 1h$2.1M

Other incomeLn 4–11$21K

Investment incomeLn 3$14K

Money outPt IX

$2.0M

Ln 25

Programscol B$1.2M

Managementcol C$493K

Fundraisingcol D$276K

Owns and owesPt X

$1.2M

net assets · Ln 32

Cash and savingsLn 1–2$1.7M

Total assetsLn 16$1.7M

LiabilitiesLn 26$464K

PeoplePt VI, VII

10

listed · VII A

PaidVII A2

Voting boardVI 1a6

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.1M

Investment incomeLn 3$14K

Other incomeLn 4–11$21K

Total revenueLn 12$2.1M

Assets in detailPt X, end of year

CashLn 1$1.7M

Cash and savings togetherLn 1–2$1.7M

Land, buildings, equipmentLn 10c$11K

Other assetsLn 15$378

Total assetsLn 16$1.7M

LiabilitiesLn 26$464K

Net assetsLn 32$1.2M

OperationsPt I, VI

EmployeesI 524

VolunteersI 6222

Fiscal year endsHeaderAugust

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$1.1M	$1.7M
Land, buildings, equipmentLn 10c	$5K	$11K
Total assetsLn 16	$1.1M	$1.7M
LiabilitiesLn 26	$12K	$464K
Net assetsLn 32	$1.1M	$1.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$398K	$271K	$47K	$79K
Other salaries and wagesLn 7	$521K	$355K	$62K	$104K
Pension plan contributionsLn 8	$17K	$12K	$2K	$3K
Other employee benefitsLn 9	$37K	$25K	$4K	$7K
Payroll taxesLn 10	$86K	$59K	$10K	$17K
Legal feesLn 11b	$74K		$74K
Accounting feesLn 11c	$71K		$71K
Other fees for servicesLn 11g	$518K	$309K	$174K	$35K
Office expensesLn 13	$29K	$24K	$2K	$3K
Information technologyLn 14	$50K	$34K	$6K	$10K
OccupancyLn 16	$81K	$55K	$10K	$16K
TravelLn 17	$34K	$16K	$16K	$1K
Conferences, conventions and meetingsLn 19	$25K	$25K	$91
Depreciation, depletion and amortizationLn 22	$4K		$4K
InsuranceLn 23	$10K		$10K
Other expenses (24a–d)Ln 24	$37K	$37K	$302
Total functional expensesLn 25	$2.0M	$1.2M	$493K	$276K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$5.7M	$5.7M	−$56K	$6.5M	990 PDF
FY2024	$9.4M	$4.9M	$4.5M	$6.6M	990 PDF
FY2023	$3.0M	$2.4M	$585K	$2.0M	990 PDF
FY2022	$4.2M	$3.9M	$257K	$1.5M	990 PDF
FY2021	$2.8M	$2.9M	−$27K	$1.2M	990 PDF
FY2020 Viewing	$2.1M	$2.0M	$141K	$1.2M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $2,133,664 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,326,055$2,098,510

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $2,177$14,351

I-11 Other revenuePrior year −$383,331$20,803

I-12 Total revenuePrior year $1,944,901$2,133,664

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 $656,685$1,058,910

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $529,168$933,284

I-18 Total expensesPrior year $1,185,853$1,992,194

I-19 Revenue less expensesPrior year $759,048$141,470

Part VI · Governance 6 of 6 board members independent, 2 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members6

VI-13 Written whistleblower policyNo

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-15a Process for setting top official's payYes

Part VIII · Statement of revenue $2,133,664 across 5 lines filed

VIII-1f All other contributions, gifts and grants$2,098,510

VIII-1h Total contributions, gifts and grants$2,098,510

VIII-3 Investment incomeExcluded from tax $14,351$14,351

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $20,803$20,803

VIII-12 Total revenueRelated to mission $20,803 · Unrelated business $0 · Excluded from tax $14,351$2,133,664

Part IX · Statement of functional expenses $1,992,194 across 16 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $271,100 · Management $47,374 · Fundraising $79,221$397,695

IX-7 Other salaries and wagesPrograms $355,415 · Management $62,107 · Fundraising $103,860$521,382

IX-8 Pension plan contributionsPrograms $11,692 · Management $2,044 · Fundraising $3,416$17,152

IX-9 Other employee benefitsPrograms $25,020 · Management $4,372 · Fundraising $7,312$36,704

IX-10 Payroll taxesPrograms $58,609 · Management $10,241 · Fundraising $17,127$85,977

IX-11b Legal feesManagement $74,317$74,317

IX-11c Accounting feesManagement $70,731$70,731

IX-11g Other fees for servicesPrograms $308,996 · Management $173,685 · Fundraising $35,225$517,906

IX-13 Office expensesPrograms $24,358 · Management $2,066 · Fundraising $2,710$29,134

IX-14 Information technologyPrograms $34,202 · Management $5,901 · Fundraising $9,994$50,097

IX-16 OccupancyPrograms $55,425 · Management $9,735 · Fundraising $16,196$81,356

IX-17 TravelPrograms $16,117 · Management $16,350 · Fundraising $1,315$33,782

IX-19 Conferences, conventions and meetingsPrograms $25,068 · Management $91$25,159

IX-22 Depreciation, depletion and amortizationManagement $3,689$3,689

IX-23 InsuranceManagement $9,627$9,627

IX-24 Other expenses (24a–d)Programs $37,184 · Management $302$37,486

IX-25 Total functional expensesPrograms $1,223,186 · Management $492,632 · Fundraising $276,376$1,992,194

Part X · Balance sheet $1,686,018 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $1,076,811$1,664,363

X-4 Accounts receivableStart of year $5,563$1,103

X-9 Prepaid expenses and deferred charges$9,337

X-10c Land, buildings and equipment, netStart of year $5,432$10,837

X-15 Other assetsStart of year $0$378

X-16 Total assetsStart of year $1,087,806$1,686,018

X-17 Accounts payable and accrued expensesStart of year $12,115$88,818

X-19 Deferred revenue$255,381

X-24 Unsecured notes and loans payable$119,843

X-26 Total liabilitiesStart of year $12,115$464,042

X-32 Total net assets or fund balancesStart of year $1,075,691$1,221,976

X-33 Total liabilities and net assetsStart of year $1,087,806$1,686,018

Part XI · Reconciliation of net assets $1,221,976 net assets at year end

XI-1 Total revenue$2,133,664

XI-2 Total expenses$1,992,194

XI-3 Revenue less expenses$141,470

XI-4 Net assets at start of year$1,075,691

XI-8 Prior period adjustments$4,815

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,221,976

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

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Heterodox Academy FY2020 filing

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