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10x Academy Foundation FY2023 filing

Escondido, CAUnknown exempt organization EIN 86-1722293Revenue $1.7M in FY2023

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

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10x project provides educational services to underserved communities.

92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2023 · 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
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$46K
11% of total assets
Looks good: liabilities are 11% 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
$1.7M
+12% vs prior year
Spent
$1.6M
To programs
92%
Net assets
$372K
By yearFY2021–FY2024
Revenue
$1.7M
FY2023▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2021$405K
FY2022$1.5M
FY2023$1.7M
FY2024$346K
Expenses
$1.6M
FY2023▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2021$311K
FY2022$1.4M
FY2023$1.6M
FY2024$718K
Net assets
$372K
FY2023▲ +91%
Tap a bar for its year
Net assets by fiscal year
FY2021$94K
FY2022$195K
FY2023$372K
FY2024$0

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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

92 cents of each dollar spent went to programs.

Program services 92% · $1.4M Management & general 8% · $128K

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
Garrett D Pagon III
Executive Dir/Treasurer
$0Pt VII · Sec A
John Estridge
Director/Secretary
$0Pt VII · Sec A
Steve Martin
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 · $1.4M · in their own filed words · FY2023
01

Educational services to underserved communities

$1.4Mprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.7M
Fees for servicesLn 2g$62K
Investment incomeLn 3$16K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$128K
Owns and owesPt X
$372K
net assets · Ln 32
Cash and savingsLn 1–2$309K
Total assetsLn 16$418K
LiabilitiesLn 26$46K
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$1.7M
Fees for servicesLn 2g$62K
Investment incomeLn 3$16K
Gains on assetsLn 7$12K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$309K
Cash and savings togetherLn 1–2$309K
Land, buildings, equipmentLn 10c$42K
Other assetsLn 15$29K
Total assetsLn 16$418K
LiabilitiesLn 26$46K
Net assetsLn 32$372K
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 FY23End FY23
Cash and savingsLn 1–2$111K$309K
Land, buildings, equipmentLn 10c$56K$42K
Total assetsLn 16$202K$418K
LiabilitiesLn 26$8K$46K
Net assetsLn 32$195K$372K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$20K$20K
Other salaries and wagesLn 7$482K$396K$86K
Pension plan contributionsLn 8$10K$10K
Other employee benefitsLn 9$81K$68K$13K
Payroll taxesLn 10$187K$180K$7K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$29K$29K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$54K$54K
Office expensesLn 13$16K$16K
Information technologyLn 14$30K$8K$22K
OccupancyLn 16$355K$355K
Conferences, conventions and meetingsLn 19$4K$4K
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$34K$34K
Other expenses (24a–d)Ln 24$155K$155K
All other expensesLn 24e$72K$72K
Total functional expensesLn 25$1.6M$1.4M$128K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $346K$718K−$372K$0 990 PDF
FY2023 Viewing $1.7M$1.6M$177K$372K 990 PDF
FY2022 $1.5M$1.4M$100K$195K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $1,728,499 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,540,000$1,650,392
I-9 Program service revenuePrior year $1,336$61,629
I-10 Investment incomePrior year $8$16,478
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,541,344$1,728,499
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 $688,127$780,418
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $752,747$770,868
I-18 Total expensesPrior year $1,440,874$1,551,286
I-19 Revenue less expensesPrior year $100,470$177,213
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 $1,728,499 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,650,392
VIII-1h Total contributions, gifts and grants$1,650,392
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $61,629$61,629
VIII-3 Investment incomeExcluded from tax $4,827$4,827
VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,651$11,651
VIII-12 Total revenueRelated to mission $61,629 · Unrelated business $0 · Excluded from tax $16,478$1,728,499
Part IX · Statement of functional expenses $1,551,286 across 17 lines filed
IX-6 Pay of disqualified personsPrograms $20,050$20,050
IX-7 Other salaries and wagesPrograms $395,937 · Management $85,823$481,760
IX-8 Pension plan contributionsPrograms $10,419$10,419
IX-9 Other employee benefitsPrograms $68,098 · Management $12,626$80,724
IX-10 Payroll taxesPrograms $180,304 · Management $7,161$187,465
IX-11b Legal feesPrograms $5,401$5,401
IX-11c Accounting feesPrograms $28,651$28,651
IX-11g Other fees for servicesPrograms $2,147$2,147
IX-12 Advertising and promotionPrograms $54,381$54,381
IX-13 Office expensesPrograms $15,830$15,830
IX-14 Information technologyPrograms $8,149 · Management $22,019$30,168
IX-16 OccupancyPrograms $355,395$355,395
IX-19 Conferences, conventions and meetingsPrograms $3,684$3,684
IX-22 Depreciation, depletion and amortizationPrograms $14,331$14,331
IX-23 InsurancePrograms $33,629$33,629
IX-24 Other expenses (24a–d)Programs $154,771$154,771
IX-24e All other expensesPrograms $72,480$72,480
IX-25 Total functional expensesPrograms $1,423,657 · Management $127,629 · Fundraising $0$1,551,286
Part X · Balance sheet $417,640 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $110,988$308,945
X-4 Accounts receivable$5,218
X-9 Prepaid expenses and deferred chargesStart of year $3,319$29,870
X-10c Land, buildings and equipment, netStart of year $56,173$41,947
X-14 Intangible assetsStart of year $2,873$2,660
X-15 Other assetsStart of year $29,000$29,000
X-16 Total assetsStart of year $202,353$417,640
X-17 Accounts payable and accrued expensesStart of year $7,823$45,897
X-26 Total liabilitiesStart of year $7,823$45,897
X-32 Total net assets or fund balancesStart of year $194,530$371,743
X-33 Total liabilities and net assetsStart of year $202,353$417,640
Part XI · Reconciliation of net assets $371,743 net assets at year end
XI-1 Total revenue$1,728,499
XI-2 Total expenses$1,551,286
XI-3 Revenue less expenses$177,213
XI-4 Net assets at start of year$194,530
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$371,743

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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