Advanced Education Research & Development Fund FY2022 filing

Tax-deductible

Oakland, CA501(c)(3)Since 2020EducationEIN 85-3624930Revenue $42.6M in FY2022

On file with the IRSaerdf.org66 Franklin St Ste 300, 94607-3734 · Oakland, CATax-exempt since Mar 2021Publicly supported charity — 170(b)(1)(A)(vi)

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Conduct Research and Development that will yield dramatic improvements in public Education.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$2.7M 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
2 of 4
filings with a surplus
Average surplus $6.8M a year · 20% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7.2M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.2M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 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
$42.6M
+30% vs prior year
Spent
$22.8M
To programs
88%
Net assets
$55.2M
By yearFY2021–FY2024
Revenue
$42.6M
FY2022▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2021$32.8M
FY2022$42.6M
FY2023$28.7M
FY2024$29.3M
Expenses
$22.8M
FY2022▲ +51%
Tap a bar for its year
Expenses by fiscal year
FY2021$15.2M
FY2022$22.8M
FY2023$30.8M
FY2024$37.4M
Net assets
$55.2M
FY2022▲ +53%
Tap a bar for its year
Net assets by fiscal year
FY2021$36.1M
FY2022$55.2M
FY2023$53.4M
FY2024$46.0M

From the FY2022 Form 990 · 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 Mar 2021.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $20.0M Management & general 12% · $2.7M Fundraising 0% · $91K

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

21 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/Board President
$399,999Pt VII · Sec A
Chief of Research & Develo
$295,600Pt VII · Sec A
Chief Public Affairs Offic
$259,300Pt VII · Sec A
$259,300Pt VII · Sec A
Chief Learning Officer
$259,300Pt VII · Sec A
Program Director
$259,300Pt VII · Sec A
Program Director
$250,000Pt VII · Sec A
Academic Director
$215,000Pt VII · Sec A

Auditi Chakravarty’s $449K as Chief Executive Officer is at the 85th percentile of top reported officer pay among 3683 $10–100M 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

NameFY2024FY2023FY2022FY2021
Auditi Chakravarty$449,322$315,000——
Stacey Childress—$69,790$399,999$399,999
Melina Uncapher—$316,034$295,600$285,000
Elda Beki Bahar-Engler$241,303$278,775——
Christopher Liang-Vergara$277,197$267,727$259,300$169,424
Marvin Smith$258,651$267,727$259,300$219,701
Temple S Lovelace$257,469$267,727$259,300—
Rebecca Kockler Easterling$253,854$253,821$259,300$115,530

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 Advanced Education Research & Development Fund 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

Programs and updates

Develops innovative solutions to significantly improve public education.

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Provided by the organization

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1 program · $20.0M · in their own filed words · FY2022
01

Inclusive Research and Development

Aerdf raises philanthropic dollars from the general public and then mobilizes that capital to support innovative reseearch and development projects that address pernicious teaching and learning challenges that disproprortionaltely impact black, latino and low-income students.

$20.0Mprogram 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 · FY2022
Total grants receivedfrom 1 funder$7.2M
Grants paid · 24 grants · $911K · 2021–2024
Jackson Public School DistrictFY2024$74,000
Aliquippa School DistrictFY2024$25,600
Change the Tune INCCA · FY2024$20,000
Elite Public SchoolsCA · FY2024$19,000
Good TutorsCA · FY2024$10,000
Nevada Rise Academy INCNV · FY2024$8,667
Chicago Mobile MakersIL · FY2024$8,000
Middletown City School DistrictFY2023$32,822
Milpitas United School DistrictFY2023$31,000
Newark Board of EducationFY2023$25,000
The Hardy Center INCOH · FY2023$8,500
Vista Unified School DistrictFY2022$58,474
Newark Board of EducationFY2022$51,960
See all 24 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$42.6M
Ln 12
Gifts and grantsLn 1h$41.6M
Investment incomeLn 3$966K
Money outPt IX
$22.8M
Ln 25
Programscol B$20.0M
Managementcol C$2.7M
Fundraisingcol D$91K
Owns and owesPt X
$55.2M
net assets · Ln 32
Cash and savingsLn 1–2$750K
Total assetsLn 16$57.4M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
21
listed · VII A
PaidVII A11
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$41.6M
Investment incomeLn 3$966K
Total revenueLn 12$42.6M
Assets in detailPt X, end of year
CashLn 1$750K
Cash and savings togetherLn 1–2$750K
InvestmentsLn 11–13$56.4M
Total assetsLn 16$57.4M
LiabilitiesLn 26$2.2M
Net assetsLn 32$55.2M
OperationsPt I, VI
EmployeesI 528
VolunteersI 65
Fiscal year endsHeaderDecember
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$532K$750K
InvestmentsLn 11–13$37.3M$56.4M
Total assetsLn 16$37.8M$57.4M
LiabilitiesLn 26$1.7M$2.2M
Net assetsLn 32$36.1M$55.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$216K$216K
Pay of current officers, directors and key staffLn 5$1.6M$1.5M$108K$60K
Other salaries and wagesLn 7$4.3M$3.9M$389K$24K
Pension plan contributionsLn 8$256K$250K$4K$1K
Other employee benefitsLn 9$615K$602K$9K$4K
Payroll taxesLn 10$405K$373K$30K$2K
Legal feesLn 11b$85K$85K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$14.0M$12.5M$1.5M
Advertising and promotionLn 12$36K$10K$26K
Office expensesLn 13$106K$46K$60K$120
Information technologyLn 14$466K$190K$275K$180
OccupancyLn 16$2K$828$710
TravelLn 17$204K$128K$77K
Conferences, conventions and meetingsLn 19$278K$266K$12K
InterestLn 20$767$243$524
InsuranceLn 23$31K$31K
Other expenses (24a–d)Ln 24$219K$123K$97K
Total functional expensesLn 25$22.8M$20.0M$2.7M$91K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $29.3M$37.4M−$8.1M$46.0M 990 PDF
FY2023 $28.7M$30.8M−$2.1M$53.4M 990 PDF
FY2022 Viewing $42.6M$22.8M$19.7M$55.2M 990 PDF
FY2021 $32.8M$15.2M$17.7M$36.1M 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 (6 parts)
Part I · Summary $42,576,164 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $32,770,000$41,610,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $72,563$966,164
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $32,842,563$42,576,164
I-13 Grants and similar amounts paidPrior year $309,416$216,060
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,758,434$7,219,668
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,098,721$15,407,791
I-18 Total expensesPrior year $15,166,571$22,843,519
I-19 Revenue less expensesPrior year $17,675,992$19,732,645
Part VI · Governance 8 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $42,576,164 across 4 lines filed
VIII-1f All other contributions, gifts and grants$41,610,000
VIII-1h Total contributions, gifts and grants$41,610,000
VIII-3 Investment incomeExcluded from tax $966,164$966,164
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $966,164$42,576,164
Part IX · Statement of functional expenses $22,843,519 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $216,060$216,060
IX-5 Pay of current officers, directors and key staffPrograms $1,460,624 · Management $108,201 · Fundraising $59,601$1,628,426
IX-7 Other salaries and wagesPrograms $3,902,759 · Management $388,756 · Fundraising $24,069$4,315,584
IX-8 Pension plan contributionsPrograms $250,146 · Management $4,182 · Fundraising $1,472$255,800
IX-9 Other employee benefitsPrograms $601,697 · Management $9,356 · Fundraising $3,502$614,555
IX-10 Payroll taxesPrograms $372,879 · Management $30,332 · Fundraising $2,092$405,303
IX-11b Legal feesManagement $85,227$85,227
IX-11c Accounting feesManagement $8,321$8,321
IX-11g Other fees for servicesPrograms $12,454,435 · Management $1,516,266$13,970,701
IX-12 Advertising and promotionPrograms $9,500 · Management $26,263$35,763
IX-13 Office expensesPrograms $45,991 · Management $60,349 · Fundraising $120$106,460
IX-14 Information technologyPrograms $190,296 · Management $275,372 · Fundraising $180$465,848
IX-16 OccupancyPrograms $828 · Management $710$1,538
IX-17 TravelPrograms $127,553 · Management $76,872$204,425
IX-19 Conferences, conventions and meetingsPrograms $266,182 · Management $11,884$278,066
IX-20 InterestPrograms $243 · Management $524$767
IX-23 InsuranceManagement $31,360$31,360
IX-24 Other expenses (24a–d)Programs $122,639 · Management $96,676$219,315
IX-25 Total functional expensesPrograms $20,021,832 · Management $2,730,651 · Fundraising $91,036$22,843,519
Part X · Balance sheet $57,411,486 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $531,734$750,000
X-4 Accounts receivableStart of year $25,940$290,784
X-11 Publicly traded securitiesStart of year $34,974,247$4,336,143
X-12 Other securitiesStart of year $2,286,809$52,034,559
X-16 Total assetsStart of year $37,818,730$57,411,486
X-17 Accounts payable and accrued expensesStart of year $1,356,073$1,893,925
X-25 Other liabilitiesStart of year $381,930$305,743
X-26 Total liabilitiesStart of year $1,738,003$2,199,668
X-27 Net assets without donor restrictionsStart of year $22,967,321$41,167,199
X-28 Net assets with donor restrictionsStart of year $13,113,406$14,044,619
X-32 Total net assets or fund balancesStart of year $36,080,727$55,211,818
X-33 Total liabilities and net assetsStart of year $37,818,730$57,411,486
Part XI · Reconciliation of net assets $55,211,818 net assets at year end
XI-1 Total revenue$42,576,164
XI-2 Total expenses$22,843,519
XI-3 Revenue less expenses$19,732,645
XI-4 Net assets at start of year$36,080,727
XI-5 Net unrealized gains (losses) on investments−$601,554
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$55,211,818

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

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