Educational Impact, Inc. dba Adventure School (the "School") provides elementary education, under the laws of the State of Arizona as a qualified charter school under a contract which remains in effect until June 30, 2037. The contract is subject to renewal at the request of the School and subject to approval by the Arizona State Board for Charter Schools (the "ASBCS"). The School is located in Tucson, Arizona and serves students in kindergarten through eighth grade. Arizona charter schools provide additional academic choices for parents and students and intend to improve pupil achievement through innovations in scheduling, curriculum, and instructional methodologies

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$130K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2025 · 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
3 of 6
filings with a surplus
Average surplus $54K a year · 3% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$130K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$65K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+7% vs prior year
Spent
$1.8M
To programs
86%
Net assets
$564K
By yearFY2020–FY2025
Revenue
$1.7M
FY2025▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.6M
FY2023$2.1M
FY2024$1.6M
FY2025$1.7M
Expenses
$1.8M
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.4M
FY2022$1.5M
FY2023$1.7M
FY2024$1.7M
FY2025$1.8M
Net assets
$564K
FY2025▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$278K
FY2021$231K
FY2022$354K
FY2023$707K
FY2024$632K
FY2025$564K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $1.6M Management & general 14% · $243K

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

4 people listed on the 990; $130K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$130,050Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Maryann Penczar’s $130K as President is at the 53rd 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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Maryann Penczar$130,050$157,361$147,815$106,956$92,952$85,504

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides early childhood education and charter school programs for young children.

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1 program · $1.6M · in their own filed words · FY2024
01

Educational impact inc. School district managed and operated three public schools for the 2024-2025 school year, serving 163 students in tucson, arizona.

$1.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.7M
Other incomeLn 4–11$15K
Investment incomeLn 3$3K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.6M
Managementcol C$243K
Owns and owesPt X
$564K
net assets · Ln 32
Cash and savingsLn 1–2$404K
Total assetsLn 16$629K
LiabilitiesLn 26$65K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Government grantsLn 1e$1.7M
Investment incomeLn 3$3K
Other incomeLn 4–11$15K
Gains on assetsLn 7$0
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$131K
SavingsLn 2$273K
Cash and savings togetherLn 1–2$404K
InvestmentsLn 11–13$10K
Land, buildings, equipmentLn 10c$167K
Other assetsLn 15$0
Total assetsLn 16$629K
LiabilitiesLn 26$65K
Net assetsLn 32$564K
OperationsPt I, VI
EmployeesI 527
VolunteersI 60
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
LineStart FY25End FY25
Cash and savingsLn 1–2$475K$404K
InvestmentsLn 11–13$10K$10K
Land, buildings, equipmentLn 10c$152K$167K
Total assetsLn 16$699K$629K
LiabilitiesLn 26$66K$65K
Net assetsLn 32$632K$564K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K$5K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$802K$674K$128K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$69K$58K$11K
Payroll taxesLn 10$60K$50K$10K
Management feesLn 11a$0
Legal feesLn 11b$912$912
Accounting feesLn 11c$24K$24K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$150K$138K$12K
Advertising and promotionLn 12$0
Office expensesLn 13$2K$43$1K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$443K$414K$29K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$16K$14K$2K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$211K$200K$11K
Total functional expensesLn 25$1.8M$1.6M$243K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.7M$1.8M−$68K$564K 990 PDF
FY2024 $1.6M$1.7M−$75K$632K 990 PDF
FY2023 $2.1M$1.7M$353K$707K 990 PDF
FY2022 $1.6M$1.5M$123K$354K 990 PDF
FY2021 $1.3M$1.4M−$47K$231K 990 PDF
FY2020 $1.3M$1.2M$36K$278K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,728,704 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,584,167$1,710,983
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $12,779$2,895
I-11 Other revenuePrior year $24,465$14,826
I-12 Total revenuePrior year $1,621,411$1,728,704
I-13 Grants and similar amounts paidPrior year $0$5,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $850,132$930,713
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $845,940$861,294
I-18 Total expensesPrior year $1,696,072$1,797,007
I-19 Revenue less expensesPrior year −$74,661−$68,303
Part VI · Governance 2 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
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 $1,728,704 across 9 lines filed
VIII-1e Government grants$1,710,983
VIII-1h Total contributions, gifts and grants$1,710,983
VIII-3 Investment incomeExcluded from tax $2,895$2,895
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $14,826$14,826
VIII-12 Total revenueRelated to mission $14,826 · Excluded from tax $2,895$1,728,704
Part IX · Statement of functional expenses $1,797,007 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $5,000$5,000
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $674,235 · Management $127,664$801,899
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $58,017 · Management $10,985$69,002
IX-10 Payroll taxesPrograms $50,290 · Management $9,522$59,812
IX-11a Management fees$0
IX-11b Legal feesManagement $912$912
IX-11c Accounting feesManagement $23,975$23,975
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $138,424 · Management $11,650$150,074
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $43 · Management $1,462$1,505
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $413,967 · Management $29,440$443,407
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $14,206 · Management $1,579$15,785
IX-23 InsuranceManagement $15,100$15,100
IX-24 Other expenses (24a–d)Programs $199,654 · Management $10,882$210,536
IX-25 Total functional expensesPrograms $1,553,836 · Management $243,171 · Fundraising $0$1,797,007
Part X · Balance sheet $629,188 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $474,604$130,797
X-2 Savings and temporary cash investmentsStart of year $0$273,254
X-3 Pledges and grants receivableStart of year $62,388$48,061
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $151,518$167,076
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $10,000$10,000
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $698,510$629,188
X-17 Accounts payable and accrued expensesStart of year $18,685$40,563
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $47,609$24,378
X-26 Total liabilitiesStart of year $66,294$64,941
X-27 Net assets without donor restrictionsStart of year $632,216$564,247
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $632,216$564,247
X-33 Total liabilities and net assetsStart of year $698,510$629,188
Part XI · Reconciliation of net assets $564,247 net assets at year end
XI-1 Total revenue$1,728,704
XI-2 Total expenses$1,797,007
XI-3 Revenue less expenses−$68,303
XI-4 Net assets at start of year$632,216
XI-5 Net unrealized gains (losses) on investments$334
XI-10 Net assets at end of year$564,247

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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