Educational Impact INC FY2022 filing

Tax-deductible

Tucson, AZ501(c)(3)Since 2003EducationEIN 92-0193846Revenue $1.6M in FY2022

On file with the IRSadventureschoolstucson.com1950 E Placita Sin Nombre, 85718-2092 · Tucson, AZTax-exempt since Jul 2019School — 170(b)(1)(A)(ii)

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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.
89¢ of each $1 spent went to programs.
$107K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
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 5
filings with a surplus
Average surplus $78K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$107K
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
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
$116K
25% of total assets
Looks good: liabilities are 25% 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
$1.6M
+22% vs prior year
Spent
$1.5M
To programs
89%
Net assets
$354K
By yearFY2020–FY2024
Revenue
$1.6M
FY2022▲ +22%
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
FY2024$1.7M
Expenses
$1.5M
FY2022▲ +9%
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
FY2024$1.8M
Net assets
$354K
FY2022▲ +53%
Tap a bar for its year
Net assets by fiscal year
FY2020$278K
FY2021$231K
FY2022$354K
FY2023$707K
FY2024$632K
FY2024$564K

From the FY2022 Form 990 (year ending June 2022) · 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: FY2024. IRS ruling in Jul 2019.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.3M Management & general 11% · $174K

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; $107K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$106,956Pt 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
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 II2 listed

Programs and updates

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

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Provided by the organization

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1 program · $1.3M · in their own filed words · FY2021
01

Educational impact inc. School district managed and operated three public schools for the 2021-2022 school year, serving 156 students in tucson, arizona.

$1.3Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.6M
Other incomeLn 4–11$692
Money outPt IX
$1.5M
Ln 25
Programscol B$1.3M
Managementcol C$174K
Owns and owesPt X
$354K
net assets · Ln 32
Cash and savingsLn 1–2$309K
Total assetsLn 16$470K
LiabilitiesLn 26$116K
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$1.6M
Government grantsLn 1e$1.6M
Other incomeLn 4–11$692
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$309K
Cash and savings togetherLn 1–2$309K
InvestmentsLn 11–13$10K
Land, buildings, equipmentLn 10c$119K
Total assetsLn 16$470K
LiabilitiesLn 26$116K
Net assetsLn 32$354K
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 FY22End FY22
Cash and savingsLn 1–2$156K$309K
InvestmentsLn 11–13$10K$10K
Land, buildings, equipmentLn 10c$112K$119K
Total assetsLn 16$367K$470K
LiabilitiesLn 26$136K$116K
Net assetsLn 32$231K$354K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$653K$561K$92K
Other employee benefitsLn 9$59K$59K
Payroll taxesLn 10$49K$49K
Legal feesLn 11b$109$109
Accounting feesLn 11c$24K$24K
Other fees for servicesLn 11g$114K$108K$6K
Office expensesLn 13$3K$3K
OccupancyLn 16$393K$354K$39K
Depreciation, depletion and amortizationLn 22$14K$12K$1K
InsuranceLn 23$22K$20K$2K
Other expenses (24a–d)Ln 24$186K$179K$6K
Total functional expensesLn 25$1.5M$1.3M$174K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.6M$1.7M−$75K$632K 990 PDF
FY2023 $2.1M$1.7M$353K$707K 990 PDF
FY2022 Viewing $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 I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $1,639,828 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,340,094$1,639,136
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$692
I-12 Total revenuePrior year $1,340,094$1,639,828
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 $624,173$760,883
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $763,130$755,804
I-18 Total expensesPrior year $1,387,303$1,516,687
I-19 Revenue less expensesPrior year −$47,209$123,141
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 $1,639,828 across 4 lines filed
VIII-1e Government grants$1,639,136
VIII-1h Total contributions, gifts and grants$1,639,136
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $692$692
VIII-12 Total revenueRelated to mission $692 · Unrelated business $0 · Excluded from tax $0$1,639,828
Part IX · Statement of functional expenses $1,516,687 across 11 lines filed
IX-7 Other salaries and wagesPrograms $561,003 · Management $92,305$653,308
IX-9 Other employee benefitsPrograms $58,786$58,786
IX-10 Payroll taxesPrograms $48,789$48,789
IX-11b Legal feesManagement $109$109
IX-11c Accounting feesManagement $23,800$23,800
IX-11g Other fees for servicesPrograms $107,825 · Management $5,950$113,775
IX-13 Office expensesManagement $2,751$2,751
IX-16 OccupancyPrograms $354,062 · Management $39,340$393,402
IX-22 Depreciation, depletion and amortizationPrograms $12,469 · Management $1,386$13,855
IX-23 InsurancePrograms $19,959 · Management $2,218$22,177
IX-24 Other expenses (24a–d)Programs $179,455 · Management $6,480$185,935
IX-25 Total functional expensesPrograms $1,342,348 · Management $174,339 · Fundraising $0$1,516,687
Part X · Balance sheet $470,279 assets, 13 lines filed
Asset lines not itemized here account for $7,003; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $156,219$308,998
X-3 Pledges and grants receivableStart of year $55,495$14,323
X-4 Accounts receivableStart of year $5,150$5,150
X-9 Prepaid expenses and deferred charges$5,724
X-10c Land, buildings and equipment, netStart of year $112,470$119,081
X-12 Other securitiesStart of year $10,000$10,000
X-16 Total assetsStart of year $366,736$470,279
X-17 Accounts payable and accrued expensesStart of year $23,085$23,856
X-25 Other liabilitiesStart of year $60,067$64,204
X-26 Total liabilitiesStart of year $135,705$116,106
X-27 Net assets without donor restrictionsStart of year $231,031$354,173
X-32 Total net assets or fund balancesStart of year $231,031$354,173
X-33 Total liabilities and net assetsStart of year $366,736$470,279
Part XI · Reconciliation of net assets $354,173 net assets at year end
XI-1 Total revenue$1,639,828
XI-2 Total expenses$1,516,687
XI-3 Revenue less expenses$123,141
XI-4 Net assets at start of year$231,031
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year$354,173

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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