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Uatx EIN 87-1925354

Uatx FY2023 filing

EIN  87-1925354 Public charity (501(c)(3)) Austin, TX Founded 2021
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Verified accurate 7/8/26 · see original filing: IRS
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Size
$10–100M
What they do
Educates thoughtful, ethical builders and leaders through open, civil discussion.
Leadership
Pano Kanelos · President · $501K
Money in and out
$28.0M revenue, $7.1M expenses
Bottom line
49% program efficiency

Educates thoughtful, ethical builders and leaders through open, civil discussion. For fiscal year 2023 it reported $28.0M in revenue, $7.1M in expenses, and $39.3M in net assets.Pt I

Where the money goes · FY2023
Total revenue
$28.0M
Pt VIII · Ln 12
Total expenses
$7.1M
Pt IX · Ln 25
Net assets
$39.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $20.8M
Where spending went · Part IX cols B–D
Program services $0.49 Management & general $0.33 Fundraising $0.18
Program efficiency
49%
of spending reaches programs
Operating runway
58.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+74%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$28.0M
FY2023▲ +146%
Expenses
$7.1M
FY2023▲ +225%
Total assets
$45.2M
FY2023▲ +339%
Total liabilities
$5.8M
FY2023▲ ×65
Total revenue
$28.0M
Pt VIII · Ln 12
Total expenses
$7.1M
Pt IX · Ln 25
Net assets
$39.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$20.8M
Total assetsPt X · Ln 16$45.2M
Program-expense ratioPt IX · col B49%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $3.5M of program spending, described in the organization's own filed words · FY2022.
01

The university will offer a rigorous program of undergraduate and graduate courses with an applied curriculum built on a classical liberal foundation taught by world-class scholars and knowledge creators that leads to degrees that will be recognized as an indicator of distinctive accomplishment and ABILITY.DURING the year ended june 30…

$3.5Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUatx
EINHdr · item D87-1925354
Principal addressHdr · item CAustin, TX
WebsiteHdr · item Jwww.uaustin.org
Year of formationHdr · item L2021
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B43)
Ruling yearIRS BMFMar 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Pano Kanelos
President
$500,531Pt VII · Sec A
Jeffrey Shapiro
CFO/COO/Treasurer
$175,087Pt VII · Sec A
Loren Rotner Treas Thru 822
Sec (thru 9/22) & Assistant Provost
$129,515Pt VII · Sec A
Michael Shires Chief of
Staff/Vice President/Secretary
$79,346Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Brent Bellm
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Pano Kanelos’s $594K as President is at the 93rd percentile of top reported officer pay among 3682 $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

NameFY2025FY2024FY2023FY2022
Pano Kanelos$594,298$568,860$500,531$40,064
Keri Waters$332,927———
Michael Shires$331,758———
Ronald Thevenot$310,388$253,989——
Jacob Howland$293,970$211,409——
Charles Calomiris—$226,545——
Michael Shires Chief of—$211,516$79,346—
Curtis Guilbot$196,040$49,741——

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.

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Statement of Revenue

Part VIII
Contributions & grants$27.5M · 98%
Investment income$502K · 2%
Contributions & grants98%$27.5M
Investment income2%$502K
Other revenue$17K
Total revenueLn 12$28.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.49 Management & general $0.33 Fundraising $0.18
Program services49%$3.5M
Management & general33%$2.4M
Fundraising18%$1.3M
Total functional expensesLn 25$7.1M

Balance Sheet

Part X · end of year
CashLn 1$9.3M
Total assetsLn 16$45.2M
Total liabilitiesLn 26$5.8M
Total net assetsLn 32$39.3M
Months of cash on handcomputed15.7

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $34.2M · Operating expenses (Pt IX) $7.1M · Less non-cash grants $119K · Cash operating expenses/yr $7.0M
58.5 months
Where the money goes
Program services
Program services $3.5M · Total expenses $7.1M
49%
Management & General
Management & general $2.4M · Total expenses $7.1M
33%
Fundraising
Fundraising $1.3M · Total expenses $7.1M
18%
Cost to raise $1
Fundraising expense (2-yr avg) $1.1M · Solicited contributions (2-yr avg) $19.4M
$0.06 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $27.5M · Total revenue $28.0M
98%
Government reliance
Government grants — · Total revenue $28.0M
—
Earned-income share
Program service revenue $0 · Total revenue $28.0M
0%
Investment reliance
Investment income $502K · Total revenue $28.0M
+2%
Program self-sufficiency
Program service revenue $0 · Total expenses $7.1M
0%
Growth & trend
Revenue growth (YoY)
This year $28.0M · Prior year $11.4M
+146%
Net-asset trend (YoY)
End of year $39.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $28.0M · Expenses $7.1M
+74%
Liabilities-to-Assets
Total liabilities — · Total assets $45.2M
—
Net-asset ratio
Net assets $39.3M · Total assets $45.2M
87%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $24.9M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $45.2M
55%
People & payroll
Highest Reported Total Compensation
Individual Pano Kanelos · Reported title PRESIDENT · Highest reported compensation $501K · Total expenses $7.1M
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.9M · Total expenses $7.1M
54%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 49%——
Overhead ratio 33%——
Fundraising cost ratio 5%——
Revenue growth 146%——
Legal fee ratio 1%——
Accounting fee ratio 3%——
Fundraising fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Shepherd 5 Points Family FoundationFY2025$240K
Total grants receivedfrom 1 funder$240K
Grants paid · 1 grant · $3.6M · 2024–2024
Unitemized GrantFY2024$3,561,548

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$57.0M revenue · ⤓ 990 PDF
FY2024$35.9M revenue · ⤓ 990 PDF
FY2023$28.0M revenue · viewing · ⤓ 990 PDF
FY2022$11.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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