Elements Academy Incorporated FY2023 filing

Tax-deductible

Braintree, MA501(c)(3)Since 2022EducationEIN 87-3960951Revenue $407K in FY2023

On file with the IRSelementsacademy.org25 Brow Ave, 02184-6309 · Braintree, MATax-exempt since Sep 2023School — 170(b)(1)(A)(ii)

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Elements Academy is a nonprofit PreK-12 Microschool and Family Wellness Community for curious and creative children and families.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $38K a year · 12% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$184K
130% of total assets
Concern: liabilities are 130% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 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
$407K
Spent
$447K
To programs
94%
Net assets
−$43K
By yearFY2022–FY2025
Revenue
$407K
FY2023
Tap a bar for its year
Revenue by fiscal year
FY2022Not on file
FY2023$407K
FY2024$257K
FY2025$305K
Expenses
$447K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2022Not on file
FY2023$447K
FY2024$299K
FY2025$339K
Net assets
−$43K
FY2023▼ -1358%
Tap a bar for its year
Net assets by fiscal year
FY2022−$3K
FY2023−$43K
FY2024−$84K
FY2025−$118K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2023.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $420K Management & general 6% · $27K Fundraising 0% · $543

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 · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Tresurer
$0Pt VII · Sec A

Heather Dinino’s $7K as Executive Director is at the 6th percentile of top reported officer pay among 1613 $100K–1M 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.

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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
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Educates curious children and supports families through a PreK-12 microschool and wellness community.

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Provided by the organization

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1 program · $420K · in their own filed words · FY2022
01

The Microschool provides customized learning to a range of 25-40 students each year.The Family Wellness Community provides support, education, and opportunities for families to be more connected to one another. Through playgroups, parent support groups, and classes, our community programs have supported approximately 100 families.

$420Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$407K
Ln 12
Fees for servicesLn 2g$377K
Gifts and grantsLn 1h$30K
Money outPt IX
$447K
Ln 25
Programscol B$420K
Managementcol C$27K
Fundraisingcol D$543
Owns and owesPt X
−$43K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$141K
LiabilitiesLn 26$184K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$30K
Fees for servicesLn 2g$377K
Total revenueLn 12$407K
Assets in detailPt X, end of year
CashLn 1$21K
Cash and savings togetherLn 1–2$21K
Land, buildings, equipmentLn 10c$27K
Other assetsLn 15$90K
Total assetsLn 16$141K
LiabilitiesLn 26$184K
Net assetsLn 32−$43K
OperationsPt I, VI
EmployeesI 59
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$35K$21K
Land, buildings, equipmentLn 10c$27K
Total assetsLn 16$121K$141K
LiabilitiesLn 26$124K$184K
Net assetsLn 32−$3K−$43K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$215K$215K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$14K$14K
Legal feesLn 11b$25K$25K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$44K$44K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$34K$25K$9K$543
OccupancyLn 16$62K$62K
TravelLn 17$122$122
Conferences, conventions and meetingsLn 19$773$773
InterestLn 20$8K$8K
Depreciation, depletion and amortizationLn 22$678$678
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$6K$6K$227
Total functional expensesLn 25$447K$420K$27K$543

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $305K$339K−$34K−$118K 990 PDF
FY2024 $257K$299K−$41K−$84K 990 PDF
FY2023 Viewing $407K$447K−$40K−$43K 990 PDF
FY2022 −$3K 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 FY2023 990 (6 parts)
Part I · Summary $407,309 revenue, 12 lines filed
I-8 Contributions and grants$29,830
I-9 Program service revenue$377,479
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$407,309
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$231,135
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,935$216,027
I-18 Total expensesPrior year $2,935$447,162
I-19 Revenue less expensesPrior year −$2,935−$39,853
Part VI · Governance 2 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $407,309 across 4 lines filed
VIII-1f All other contributions, gifts and grants$29,830
VIII-1h Total contributions, gifts and grants$29,830
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $377,479$377,479
VIII-12 Total revenueRelated to mission $377,479 · Unrelated business $0 · Excluded from tax $0$407,309
Part IX · Statement of functional expenses $447,162 across 15 lines filed
IX-7 Other salaries and wagesPrograms $215,038$215,038
IX-9 Other employee benefitsPrograms $1,866$1,866
IX-10 Payroll taxesPrograms $14,231$14,231
IX-11b Legal feesPrograms $24,516$24,516
IX-11c Accounting feesManagement $17,843$17,843
IX-11g Other fees for servicesPrograms $43,582$43,582
IX-12 Advertising and promotionPrograms $5,307$5,307
IX-13 Office expensesPrograms $24,785 · Management $8,640 · Fundraising $543$33,968
IX-16 OccupancyPrograms $61,584$61,584
IX-17 TravelPrograms $122$122
IX-19 Conferences, conventions and meetingsPrograms $773$773
IX-20 InterestPrograms $8,034$8,034
IX-22 Depreciation, depletion and amortizationPrograms $678$678
IX-23 InsurancePrograms $13,186$13,186
IX-24 Other expenses (24a–d)Programs $6,207 · Management $227$6,434
IX-25 Total functional expensesPrograms $419,909 · Management $26,710 · Fundraising $543$447,162
Part X · Balance sheet $141,330 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $35,306$21,008
X-4 Accounts receivableStart of year $250$2,589
X-10c Land, buildings and equipment, net$27,360
X-15 Other assetsStart of year $85,319$90,373
X-16 Total assetsStart of year $120,875$141,330
X-17 Accounts payable and accrued expenses$16,378
X-19 Deferred revenueStart of year $37,617$45,171
X-26 Total liabilitiesStart of year $123,810$184,118
X-27 Net assets without donor restrictionsStart of year −$2,935−$42,788
X-32 Total net assets or fund balancesStart of year −$2,935−$42,788
X-33 Total liabilities and net assetsStart of year $120,875$141,330
Part XI · Reconciliation of net assets −$42,788 net assets at year end
XI-1 Total revenue$407,309
XI-2 Total expenses$447,162
XI-3 Revenue less expenses−$39,853
XI-4 Net assets at start of year−$2,935
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$42,788

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

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