The Squared Network: FY2024 Nonprofit Profile & Form 990 (EIN 92-1469219)

Revenue by fiscal year
FY2024	$578K
FY2025	$2.5M

Expenses by fiscal year
FY2024	$432K
FY2025	$872K

Net assets by fiscal year
FY2024	$455K
FY2025	$2.0M

Is it real?

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

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

Where the money goes

8 cents of each dollar spent went to programs.

Program services 8% · $36K Management & general 0% · $2K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Garland Lasater

Board Chair

$0Pt VII · Sec A

Helen Obermeyer

Vice Chair

$0Pt VII · Sec A

Bella Gribov

Secretary and Treasurer

$0Pt VII · Sec A

John Okhiulu

Board Member

$0Pt VII · Sec A

Nicholas Favaloro

CEO

$0Pt VII · Sec A

Nicholas Favaloro’s $118K as CEO is at the 89th 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.

See The Squared Network 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 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects students, campuses, and donors to broaden the Squared Experience's reach.

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Provided by the organization

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1 program · $36K · in their own filed words · FY2023

01

General Program

The squared network aims to expand a stem and college access program for first generation and low-income students. Our general program is the part of our company that works on expansion, looking at partner schools, raising funds for starting new programs, and strategizes on operations as a network of program.

$36Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record

Grants received · FY2024

The Children's Education InitiativeFY2024$322K

Community Foundation of North Texas INCFY2024$250K

The H L Brown Family FoundationFY2024$83K

Henagan Foundation INCFY2024$60K

Aspen Community FoundationFY2024$50K

Abell-Hanger FoundationFY2024$30K

Citadel Group FoundationFY2024$15K

Total grants receivedfrom 7 funders$810K

See all 7 funders →

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$578K

Ln 12

Gifts and grantsLn 1h$347K

Other incomeLn 4–11$231K

Money outPt IX

$432K

Ln 25

Programscol B$36K

Managementcol C$2K

Owns and owesPt X

$455K

net assets · Ln 32

Cash and savingsLn 1–2$168K

Total assetsLn 16$470K

LiabilitiesLn 26$9K

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$347K

Government grantsLn 1e$0

Noncash giftsLn 1g$0

Fundraising eventsLn 1c$0

Other incomeLn 4–11$231K

Total revenueLn 12$578K

Assets in detailPt X, end of year

CashLn 1$168K

Cash and savings togetherLn 1–2$168K

Total assetsLn 16$470K

LiabilitiesLn 26$9K

Net assetsLn 32$455K

OperationsPt I, VI

EmployeesI 513

VolunteersI 66

Fiscal year endsHeaderSeptember

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2		$168K
Total assetsLn 16	$0	$318K
LiabilitiesLn 26	$0	$9K
Net assetsLn 32	$0	$309K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$2K		$2K
Other fees for servicesLn 11g	$31K	$31K
Information technologyLn 14	$90	$90
TravelLn 17	$4K	$4K
Conferences, conventions and meetingsLn 19	$500	$500
Other expenses (24a–d)Ln 24	$37	$0	$37	$0
Total functional expensesLn 25	$38K	$36K	$2K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$2.5M	$872K	$1.6M	$2.0M	990 PDF
FY2024 Viewing	$578K	$432K	$146K	$455K	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 FY2024 990 (6 parts)

Part I · Summary $346,733 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$346,733

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $0$346,733

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$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $0$37,756

I-18 Total expensesPrior year $0$37,756

I-19 Revenue less expensesPrior year $0$308,977

Part VI · Governance 4 of 4 board members independent, 2 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $346,733 across 9 lines filed

VIII-1a Federated campaigns$0

VIII-1b Membership dues$0

VIII-1c Fundraising events$0

VIII-1d Related organizations$0

VIII-1e Government grants$0

VIII-1f All other contributions, gifts and grants$346,733

VIII-1g Noncash contributions (included above)$0

VIII-1h Total contributions, gifts and grants$346,733

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$346,733

Part IX · Statement of functional expenses $37,756 across 6 lines filed

IX-11c Accounting feesManagement $2,020$2,020

IX-11g Other fees for servicesPrograms $31,074$31,074

IX-14 Information technologyPrograms $90$90

IX-17 TravelPrograms $4,035$4,035

IX-19 Conferences, conventions and meetingsPrograms $500$500

IX-24 Other expenses (24a–d)Programs $0 · Management $37 · Fundraising $0$37

IX-25 Total functional expensesPrograms $35,699 · Management $2,057 · Fundraising $0$37,756

Part X · Balance sheet $317,682 assets, 9 lines filed

X-1 Cash, non-interest-bearing$167,682

X-3 Pledges and grants receivable$150,000

X-16 Total assetsStart of year $0$317,682

X-17 Accounts payable and accrued expenses$8,705

X-26 Total liabilitiesStart of year $0$8,705

X-27 Net assets without donor restrictionsStart of year $0$308,977

X-28 Net assets with donor restrictionsStart of year $0$0

X-32 Total net assets or fund balancesStart of year $0$308,977

X-33 Total liabilities and net assetsStart of year $0$317,682

Part XI · Reconciliation of net assets $308,977 net assets at year end

XI-1 Total revenue$346,733

XI-2 Total expenses$37,756

XI-3 Revenue less expenses$308,977

XI-4 Net assets at start of year$0

XI-5 Net unrealized gains (losses) on investments$0

XI-6 Donated services and use of facilities$0

XI-7 Investment expenses$0

XI-8 Prior period adjustments$0

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$308,977

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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The Squared Network FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for The Squared Network

General Program

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV