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Accelerate Education Group INC FY2022 filing

Tax-deductible

Los Angeles, CA501(c)(3)Youth Development EIN 84-5112751Revenue $228K in FY2022

On file with the IRSacceler8education.org7190 W Sunset Blvd, 90046-4415 · Los Angeles, CATax-exempt since Jul 2020Publicly supported charity — 170(b)(1)(A)(vi)

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To support and cultivate youth from underserved communities by providing positive mentorship and workforce development within the automotive industry.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
2 of 3
filings with a surplus
Average surplus $71K a year · 29% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $160K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$40K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$228K
+211% vs prior year
Spent
$115K
To programs
69%
Net assets
$134K
By yearFY2021–FY2024
Revenue
$228K
FY2022▲ +211%
Tap a bar for its year
Revenue by fiscal year
FY2021$73K
FY2022$228K
FY2023$276K
FY2024$239K
Expenses
$115K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$115K
FY2023$163K
FY2024$252K
Net assets
$134K
FY2022▲ +541%
Tap a bar for its year
Net assets by fiscal year
FY2021$21K
FY2022$134K
FY2023$247K
FY2024$234K

From the FY2022 Form 990 · 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 Jul 2020.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $80K Management & general 13% · $15K Fundraising 18% · $20K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Derrick Boykins
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Cousino
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Angela Reese
Director
$0Pt VII · Sec A

Victor Carillo’s $47K as Director is at the 36th percentile of top reported officer pay among 1993 $100K–1M youth development 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.

See Accelerate Education Group 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Mentors and trains underserved youth for automotive careers.

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Provided by the organization

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1 program · $80K · in their own filed words · FY2022
01

Youth mentorship and workforce training for at rish high school students and youths ages 16-24 who are neither enrolled in school nor participating in the labor market.

$80Kprogram 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 · FY2024
Del E Webb FoundationFY2024$80K
Liberty Hill FoundationFY2024$70K
The Goodwin Family TrustFY2024$5K
Teichert FoundationFY2024$5K
Total grants receivedfrom 4 funders$160K
See all 4 funders →

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$228K
Ln 12
Gifts and grantsLn 1h$214K
Other incomeLn 4–11$14K
Money outPt IX
$115K
Ln 25
Programscol B$80K
Managementcol C$15K
Fundraisingcol D$20K
Owns and owesPt X
$134K
net assets · Ln 32
Cash and savingsLn 1–2$100K
Total assetsLn 16$174K
LiabilitiesLn 26$40K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$214K
Noncash giftsLn 1g$15K
Other incomeLn 4–11$14K
Total revenueLn 12$228K
Assets in detailPt X, end of year
CashLn 1$100K
Cash and savings togetherLn 1–2$100K
Land, buildings, equipmentLn 10c$74K
Total assetsLn 16$174K
LiabilitiesLn 26$40K
Net assetsLn 32$134K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$11K$100K
Land, buildings, equipmentLn 10c$64K$74K
Total assetsLn 16$75K$174K
LiabilitiesLn 26$54K$40K
Net assetsLn 32$21K$134K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$6K$4K$2K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$3K$2K$2K
Information technologyLn 14$2K$1K$1K
OccupancyLn 16$987$987
TravelLn 17$26K$23K$3K
Depreciation, depletion and amortizationLn 22$19K$19K
InsuranceLn 23$7K$3K$3K
Other expenses (24a–d)Ln 24$42K$28K$14K
All other expensesLn 24e$5K$2K$2K
Total functional expensesLn 25$115K$80K$15K$20K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $239K$252K−$13K$234K 990 PDF
FY2023 $276K$163K$113K$247K 990 PDF
FY2022 Viewing $228K$115K$113K$134K 990 PDF
FY2021 $73K$21K 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 O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $228,008 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $73,264$213,717
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$14,291
I-12 Total revenuePrior year $73,264$228,008
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $57,399$115,009
I-18 Total expensesPrior year $57,399$115,009
I-19 Revenue less expensesPrior year $15,865$112,999
Part VI · Governance 9 of 9 board members independent, 5 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $228,008 across 6 lines filed
VIII-1f All other contributions, gifts and grants$213,717
VIII-1g Noncash contributions (included above)$15,000
VIII-1h Total contributions, gifts and grants$213,717
VIII-8 Net income from fundraising eventsExcluded from tax $10,276$10,276
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,015$4,015
VIII-12 Total revenueRelated to mission $4,015 · Unrelated business $0 · Excluded from tax $10,276$228,008
Part IX · Statement of functional expenses $115,009 across 10 lines filed
IX-11g Other fees for servicesManagement $3,552 · Fundraising $2,500$6,052
IX-12 Advertising and promotionFundraising $3,799$3,799
IX-13 Office expensesPrograms $1,679 · Management $1,679$3,358
IX-14 Information technologyPrograms $1,248 · Management $1,249$2,497
IX-16 OccupancyPrograms $987$987
IX-17 TravelPrograms $23,227 · Management $2,581$25,808
IX-22 Depreciation, depletion and amortizationPrograms $18,507$18,507
IX-23 InsurancePrograms $3,468 · Management $3,468$6,936
IX-24 Other expenses (24a–d)Programs $28,332 · Fundraising $14,100$42,432
IX-24e All other expensesPrograms $2,386 · Management $2,247$4,633
IX-25 Total functional expensesPrograms $79,834 · Management $14,776 · Fundraising $20,399$115,009
Part X · Balance sheet $173,698 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $10,891$99,667
X-10c Land, buildings and equipment, netStart of year $63,765$74,031
X-16 Total assetsStart of year $74,656$173,698
X-25 Other liabilitiesStart of year $53,765$39,808
X-26 Total liabilitiesStart of year $53,765$39,808
X-27 Net assets without donor restrictionsStart of year $10,891$123,890
X-28 Net assets with donor restrictionsStart of year $10,000$10,000
X-32 Total net assets or fund balancesStart of year $20,891$133,890
X-33 Total liabilities and net assetsStart of year $74,656$173,698
Part XI · Reconciliation of net assets $133,890 net assets at year end
XI-1 Total revenue$228,008
XI-2 Total expenses$115,009
XI-3 Revenue less expenses$112,999
XI-4 Net assets at start of year$20,891
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$133,890

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

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