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The Foundation

Tax-deductible

Houston, TX501(c)(3)Since 2021Education EIN 92-0742101Revenue $409.2M in FY2025

On file with the IRSadastraschool.org700 Milam St Ste 1300, 77002-2736 · Houston, TXTax-exempt since Apr 2023School — 170(b)(1)(A)(ii)

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The foundation's mission is to operate an independent primary and secondary school and, ultimately, create a university dedicated to education at the highest level.

501(c)(3) charity; gifts are tax-deductible.
85¢ 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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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 3
filings with a surplus
Average surplus $215.6M a year · 100% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
645 mo
of spending, in cash
Plus $732.6M in investments, Pt X · Ln 11–13
Looks good: 645.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11K
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$409.2M
+196% vs prior year
Spent
$768K
To programs
85%
Net assets
$779.8M
By yearFY2023–FY2025
Revenue
$409.2M
FY2025▲ +196%
Tap a bar for its year
Revenue by fiscal year
FY2023$100.1M
FY2024$138.3M
FY2025$409.2M
Expenses
$768K
FY2025▲ +797%
Tap a bar for its year
Expenses by fiscal year
FY2023$25K
FY2024$86K
FY2025$768K
Net assets
$779.8M
FY2025▲ +189%
Tap a bar for its year
Net assets by fiscal year
FY2023$202.9M
FY2024$269.9M
FY2025$779.8M

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 Apr 2023.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $649K Management & general 15% · $119K

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.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Ronald Gong
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds schools focused on advanced science, technology, engineering, and math education.

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Provided by the organization

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1 program · $649K · in their own filed words · FY2024
01

The foundation operates an upper and lower elementary school in bastrop, texas focused on teaching stem subjects and other related topics. The school's primary function is formal instruction and curriculum by a regular faculty to a regularly enrolled student body in bastrop, texas. Distance learners may be included in the future.

$649Kprogram 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.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$409.2M
Ln 12
Gifts and grantsLn 1h$407.3M
Investment incomeLn 3$1.8M
Fees for servicesLn 2g$85K
Money outPt IX
$768K
Ln 25
Programscol B$649K
Managementcol C$119K
Owns and owesPt X
$779.8M
net assets · Ln 32
Cash and savingsLn 1–2$41.3M
Total assetsLn 16$779.8M
LiabilitiesLn 26$11K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$407.3M
Noncash giftsLn 1g$407.3M
Fees for servicesLn 2g$85K
Investment incomeLn 3$1.8M
Total revenueLn 12$409.2M
Assets in detailPt X, end of year
CashLn 1$41.3M
Cash and savings togetherLn 1–2$41.3M
InvestmentsLn 11–13$732.6M
Land, buildings, equipmentLn 10c$5.5M
Total assetsLn 16$779.8M
LiabilitiesLn 26$11K
Net assetsLn 32$779.8M
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$40.7M$41.3M
InvestmentsLn 11–13$223.9M$732.6M
Land, buildings, equipmentLn 10c$5.0M$5.5M
Total assetsLn 16$269.9M$779.8M
LiabilitiesLn 26$4K$11K
Net assetsLn 32$269.9M$779.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$109K$109K
Other employee benefitsLn 9$67K$67K
Payroll taxesLn 10$9K$9K
Legal feesLn 11b$83K$9K$74K
Accounting feesLn 11c$37K$37K
Other fees for servicesLn 11g$526$526
Office expensesLn 13$2K$2K
Depreciation, depletion and amortizationLn 22$335K$331K$4K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$95K$95K
All other expensesLn 24e$16K$13K$3K
Total functional expensesLn 25$768K$649K$119K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $409.2M$768K$408.5M$779.8M 990 PDF
FY2024 $138.3M$86K$138.2M$269.9M 990 PDF
FY2023 $100.1M$25K$100.1M$202.9M 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 M · Noncash O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $409,236,759 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $137,075,943$407,320,337
I-9 Program service revenuePrior year $0$85,100
I-10 Investment incomePrior year $1,182,507$1,831,322
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $138,258,450$409,236,759
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 $0$184,264
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $85,557$583,315
I-18 Total expensesPrior year $85,557$767,579
I-19 Revenue less expensesPrior year $138,172,893$408,469,180
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $409,236,759 across 6 lines filed
VIII-1f All other contributions, gifts and grants$407,320,337
VIII-1g Noncash contributions (included above)$407,320,337
VIII-1h Total contributions, gifts and grants$407,320,337
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $85,100$85,100
VIII-3 Investment incomeExcluded from tax $1,831,322$1,831,322
VIII-12 Total revenueRelated to mission $85,100 · Unrelated business $0 · Excluded from tax $1,831,322$409,236,759
Part IX · Statement of functional expenses $767,579 across 11 lines filed
IX-7 Other salaries and wagesPrograms $108,794$108,794
IX-9 Other employee benefitsPrograms $66,508$66,508
IX-10 Payroll taxesPrograms $8,962$8,962
IX-11b Legal feesPrograms $9,415 · Management $73,967$83,382
IX-11c Accounting feesManagement $36,970$36,970
IX-11g Other fees for servicesManagement $526$526
IX-13 Office expensesPrograms $2,285$2,285
IX-22 Depreciation, depletion and amortizationPrograms $331,032 · Management $4,149$335,181
IX-23 InsurancePrograms $14,024$14,024
IX-24 Other expenses (24a–d)Programs $94,544$94,544
IX-24e All other expensesPrograms $13,209 · Management $3,194$16,403
IX-25 Total functional expensesPrograms $648,773 · Management $118,806 · Fundraising $0$767,579
Part X · Balance sheet $779,814,664 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $40,683,288$41,254,822
X-4 Accounts receivableStart of year $3,000$5,672
X-10c Land, buildings and equipment, netStart of year $5,047,479$5,455,662
X-12 Other securitiesStart of year $223,896,471$732,605,281
X-14 Intangible assetsStart of year $319,523$493,227
X-16 Total assetsStart of year $269,949,761$779,814,664
X-17 Accounts payable and accrued expensesStart of year $3,989$0
X-25 Other liabilitiesStart of year $0$11,239
X-26 Total liabilitiesStart of year $3,989$11,239
X-32 Total net assets or fund balancesStart of year $269,945,772$779,803,425
X-33 Total liabilities and net assetsStart of year $269,949,761$779,814,664
Part XI · Reconciliation of net assets $779,803,425 net assets at year end
XI-1 Total revenue$409,236,759
XI-2 Total expenses$767,579
XI-3 Revenue less expenses$408,469,180
XI-4 Net assets at start of year$269,945,772
XI-5 Net unrealized gains (losses) on investments$101,388,473
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$779,803,425

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

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