10x Academy Foundation FY2021 filing

Escondido, CAUnknown exempt organization EIN 86-1722293Revenue $405K in FY2021

On file with the IRS10xacademy.org725 N Escondido Blvd · Escondido, CA

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10x project provides educational services to underserved communities.

97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
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
3 of 4
filings with a surplus
Average deficit $83 a year · under 1% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$405K
Spent
$311K
To programs
97%
Net assets
$94K
By yearFY2021–FY2024
Revenue
$405K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$405K
FY2022$1.5M
FY2023$1.7M
FY2024$346K
Expenses
$311K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$311K
FY2022$1.4M
FY2023$1.6M
FY2024$718K
Net assets
$94K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$94K
FY2022$195K
FY2023$372K
FY2024$0

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $301K Management & general 3% · $10K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
Excutive Dir/Treasurer
$0Pt VII · Sec A
Director/Secretary
$0Pt VII · Sec A
Director/Vice-President
$0Pt VII · Sec A
See 10x Academy Foundation 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

Provides educational services to underserved communities.

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Provided by the organization

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1 program · $301K · in their own filed words · FY2021
01

Educational services to underserved communities.

$301Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$405K
Ln 12
Gifts and grantsLn 1h$405K
Investment incomeLn 3$3
Money outPt IX
$311K
Ln 25
Programscol B$301K
Managementcol C$10K
Owns and owesPt X
$94K
net assets · Ln 32
Cash and savingsLn 1–2$73K
Total assetsLn 16$99K
LiabilitiesLn 26$5K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$405K
Investment incomeLn 3$3
Total revenueLn 12$405K
Assets in detailPt X, end of year
CashLn 1$73K
Cash and savings togetherLn 1–2$73K
Land, buildings, equipmentLn 10c$24K
Total assetsLn 16$99K
LiabilitiesLn 26$5K
Net assetsLn 32$94K
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
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 FY21End FY21
Cash and savingsLn 1–2$0$73K
Land, buildings, equipmentLn 10c$0$24K
Total assetsLn 16$0$99K
LiabilitiesLn 26$0$5K
Net assetsLn 32$0$94K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$44K$44K
Other employee benefitsLn 9$951$951
Payroll taxesLn 10$20K$20K
Legal feesLn 11b$41K$41K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$69K$65K$4K
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$926$926
Information technologyLn 14$9K$3K$6K
OccupancyLn 16$15K$15K
TravelLn 17$10K$10K
Depreciation, depletion and amortizationLn 22$6K$6K
Other expenses (24a–d)Ln 24$74K$74K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$311K$301K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $346K$718K−$372K$0 990 PDF
FY2023 $1.7M$1.6M$177K$372K 990 PDF
FY2022 $1.5M$1.4M$100K$195K 990 PDF
FY2021 Viewing $405K$311K$94K$94K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $405,003 revenue, 12 lines filed
I-8 Contributions and grants$405,000
I-9 Program service revenue$0
I-10 Investment income$3
I-11 Other revenue$0
I-12 Total revenue$405,003
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$64,636
I-16a Professional fundraising fees$0
I-17 Other expenses$246,638
I-18 Total expenses$311,274
I-19 Revenue less expenses$93,729
Part VI · Governance 3 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $405,003 across 4 lines filed
VIII-1f All other contributions, gifts and grants$405,000
VIII-1h Total contributions, gifts and grants$405,000
VIII-3 Investment incomeExcluded from tax $3$3
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $3$405,003
Part IX · Statement of functional expenses $311,274 across 14 lines filed
IX-7 Other salaries and wagesPrograms $44,068$44,068
IX-9 Other employee benefitsPrograms $951$951
IX-10 Payroll taxesPrograms $19,617$19,617
IX-11b Legal feesPrograms $41,353$41,353
IX-11c Accounting feesPrograms $9,580$9,580
IX-11g Other fees for servicesPrograms $65,142 · Management $3,650$68,792
IX-12 Advertising and promotionPrograms $10,000$10,000
IX-13 Office expensesPrograms $926$926
IX-14 Information technologyPrograms $2,777 · Management $6,236$9,013
IX-16 OccupancyPrograms $15,188$15,188
IX-17 TravelPrograms $9,931$9,931
IX-22 Depreciation, depletion and amortizationPrograms $5,995$5,995
IX-24 Other expenses (24a–d)Programs $74,252$74,252
IX-24e All other expensesPrograms $1,608$1,608
IX-25 Total functional expensesPrograms $301,388 · Management $9,886 · Fundraising $0$311,274
Part X · Balance sheet $99,180 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $0$72,540
X-10c Land, buildings and equipment, netStart of year $0$23,554
X-14 Intangible assets$3,086
X-16 Total assetsStart of year $0$99,180
X-17 Accounts payable and accrued expensesStart of year $0$5,451
X-26 Total liabilitiesStart of year $0$5,451
X-32 Total net assets or fund balancesStart of year $0$93,729
X-33 Total liabilities and net assetsStart of year $0$99,180
Part XI · Reconciliation of net assets $93,729 net assets at year end
XI-1 Total revenue$405,003
XI-2 Total expenses$311,274
XI-3 Revenue less expenses$93,729
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$93,729

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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