Noble Academy: FY2021 Nonprofit Profile & Form 990 (EIN 87-0790480)

Revenue by fiscal year
FY2020	$12.2M
FY2021	$12.8M
FY2022	$11.8M
FY2023	$10.0M
FY2024	$10.4M
FY2025	$9.1M

Expenses by fiscal year
FY2020	$12.6M
FY2021	$10.8M
FY2022	$9.1M
FY2023	$7.8M
FY2024	$9.2M
FY2025	$8.9M

Net assets by fiscal year
FY2020	$4.2M
FY2021	$6.3M
FY2022	$9.0M
FY2023	$11.2M
FY2024	$12.4M
FY2025	$12.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2007.

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

Where the money goes

72 cents of each dollar spent went to programs.

72%

28%

Program services 72% · $7.8M Management & general 28% · $3.0M

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

11 people listed on the 990; $640K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Mai Yia Chang

Superintendent

$243,931Pt VII · Sec A

Neal Thao

CEO

$213,931Pt VII · Sec A

Denise Cook

Former Member

$52,774Pt VII · Sec A

Leng Vang

Chair

$51,802Pt VII · Sec A

Chai Vang

Treasurer

$50,401Pt VII · Sec A

Samantha Stewart

Former Member

$27,500Pt VII · Sec A

Shawn Yang

Vice Chair

$0Pt VII · Sec A

Nua Xiong

Secretary

$0Pt VII · Sec A

Mai Yia Chang’s $238K as Superintendent - Ex Offici is at the 89th 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
Mai Yia Chang	$237,579	$239,342	$229,550	$214,346	$243,931	$181,346
Neal Thao	—	—	—	$113,743	$213,931	$187,486
Chai Vang	—	$77,676	$63,193	$55,772	$50,401	—
Jose Quiroz-Ziebart	$68,594	—	—	—	—	—
Lu De Vang	—	$57,097	$51,459	—	—	—
Xee Yang	—	—	—	—	—	$53,018
Denise Cook	—	—	—	—	$52,774	$51,412
Leng Vang	—	—	—	—	$51,802	—

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 Noble Academy 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

Offers diverse education meeting every child's intellectual, creative, and social needs.

Provided by the organization

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1 program · $7.8M · in their own filed words · FY2020

01

Noble academy provided a high quality education to students grades pre-k through eigth during the fiscal year ended june 30, 2021. As a result, enrollment has remained strong and the school has maintained financial stability.

$7.8Mprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$12.8M

Ln 12

Gifts and grantsLn 1h$12.9M

Investment incomeLn 3$11K

Fees for servicesLn 2g$263

Money outPt IX

$10.8M

Ln 25

Programscol B$7.8M

Managementcol C$3.0M

Owns and owesPt X

$6.3M

net assets · Ln 32

Cash and savingsLn 1–2$5.3M

Total assetsLn 16$14.8M

LiabilitiesLn 26$8.6M

PeoplePt VI, VII

11

listed · VII A

PaidVII A6

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$12.9M

Government grantsLn 1e$12.9M

Fees for servicesLn 2g$263

Investment incomeLn 3$11K

Gains on assetsLn 7−$30K

Total revenueLn 12$12.8M

Assets in detailPt X, end of year

CashLn 1$4.7M

SavingsLn 2$561K

Cash and savings togetherLn 1–2$5.3M

Land, buildings, equipmentLn 10c$1.7M

Other assetsLn 15$6.0M

Total assetsLn 16$14.8M

LiabilitiesLn 26$8.6M

Net assetsLn 32$6.3M

OperationsPt I, VI

EmployeesI 5118

VolunteersI 625

Fiscal year endsHeaderJune

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$3.7M	$5.3M
Land, buildings, equipmentLn 10c	$2.0M	$1.7M
Total assetsLn 16	$14.2M	$14.8M
LiabilitiesLn 26	$10.0M	$8.6M
Net assetsLn 32	$4.2M	$6.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$843K	$208K	$634K
Other salaries and wagesLn 7	$2.5M	$1.9M	$561K
Pension plan contributionsLn 8	$804K	$708K	$96K
Other employee benefitsLn 9	$594K	$346K	$248K
Payroll taxesLn 10	$227K	$159K	$67K
Accounting feesLn 11c	$161K		$161K
Other fees for servicesLn 11g	$319K	$47K	$271K
Advertising and promotionLn 12	$37K		$37K
Office expensesLn 13	$395K	$20	$395K
RoyaltiesLn 15	$2.2M	$2.1M	$56K
OccupancyLn 16	$214K		$214K
TravelLn 17	$516K	$507K	$9K
Depreciation, depletion and amortizationLn 22	$344K	$316K	$28K
InsuranceLn 23	$53K		$53K
Other expenses (24a–d)Ln 24	$1.6M	$1.4M	$174K
All other expensesLn 24e	$43K	$7K	$36K
Total functional expensesLn 25	$10.8M	$7.8M	$3.0M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$9.1M	$8.9M	$216K	$12.7M	990 PDF
FY2024	$10.4M	$9.2M	$1.2M	$12.4M	990 PDF
FY2023	$10.0M	$7.8M	$2.3M	$11.2M	990 PDF
FY2022	$11.8M	$9.1M	$2.7M	$9.0M	990 PDF
FY2021 Viewing	$12.8M	$10.8M	$2.0M	$6.3M	990 PDF
FY2020	$12.2M	$12.6M	−$417K	$4.2M	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 FY2021 990 (6 parts)

Part I · Summary $12,839,269 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $12,052,985$12,857,894

I-9 Program service revenuePrior year $142,637$263

I-10 Investment incomePrior year $19,218−$18,888

I-11 Other revenuePrior year −$6,106$0

I-12 Total revenuePrior year $12,208,734$12,839,269

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 $6,118,370$4,952,196

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

I-17 Other expensesPrior year $6,506,884$5,839,056

I-18 Total expensesPrior year $12,625,254$10,791,252

I-19 Revenue less expensesPrior year −$416,520$2,048,017

Part VI · Governance 5 of 5 board members independent, no flags

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

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 $12,839,269 across 7 lines filed

VIII-1e Government grants$12,857,889

VIII-1f All other contributions, gifts and grants$5

VIII-1h Total contributions, gifts and grants$12,857,894

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $263$263

VIII-3 Investment incomeExcluded from tax $10,914$10,914

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$29,802−$29,802

VIII-12 Total revenueRelated to mission $263 · Unrelated business $0 · Excluded from tax −$18,888$12,839,269

Part IX · Statement of functional expenses $10,791,252 across 16 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $208,430 · Management $634,229$842,659

IX-7 Other salaries and wagesPrograms $1,923,773 · Management $560,791$2,484,564

IX-8 Pension plan contributionsPrograms $708,287 · Management $95,798$804,085

IX-9 Other employee benefitsPrograms $346,295 · Management $247,784$594,079

IX-10 Payroll taxesPrograms $159,482 · Management $67,327$226,809

IX-11c Accounting feesManagement $160,970$160,970

IX-11g Other fees for servicesPrograms $47,327 · Management $271,376$318,703

IX-12 Advertising and promotionManagement $36,949$36,949

IX-13 Office expensesPrograms $20 · Management $395,399$395,419

IX-15 RoyaltiesPrograms $2,120,991 · Management $55,515$2,176,506

IX-16 OccupancyManagement $214,316$214,316

IX-17 TravelPrograms $506,946 · Management $9,266$516,212

IX-22 Depreciation, depletion and amortizationPrograms $315,829 · Management $27,831$343,660

IX-23 InsuranceManagement $52,759$52,759

IX-24 Other expenses (24a–d)Programs $1,406,185 · Management $174,279$1,580,464

IX-24e All other expensesPrograms $7,226 · Management $35,872$43,098

IX-25 Total functional expensesPrograms $7,750,791 · Management $3,040,461 · Fundraising $0$10,791,252

Part X · Balance sheet $14,827,066 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $3,063,386$4,721,907

X-2 Savings and temporary cash investmentsStart of year $616,279$561,449

X-3 Pledges and grants receivableStart of year $382,641$1,806,770

X-9 Prepaid expenses and deferred chargesStart of year $95,195$68,892

X-10c Land, buildings and equipment, netStart of year $1,991,835$1,651,918

X-15 Other assetsStart of year $8,034,889$6,016,130

X-16 Total assetsStart of year $14,184,225$14,827,066

X-17 Accounts payable and accrued expensesStart of year $580,837$454,446

X-19 Deferred revenueStart of year $0$27,600

X-25 Other liabilitiesStart of year $8,881,971$8,068,975

X-26 Total liabilitiesStart of year $9,956,197$8,551,021

X-32 Total net assets or fund balancesStart of year $4,228,028$6,276,045

X-33 Total liabilities and net assetsStart of year $14,184,225$14,827,066

Part XI · Reconciliation of net assets $6,276,045 net assets at year end

XI-1 Total revenue$12,839,269

XI-2 Total expenses$10,791,252

XI-3 Revenue less expenses$2,048,017

XI-4 Net assets at start of year$4,228,028

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$6,276,045

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

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Noble Academy FY2021 filing

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