The Organization's mission is to support Christian education.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
2 of 2
filings with a surplus
Average surplus $25.1M a year · 79% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
13 mo
of spending, in cash
Looks good: 13.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $59.8M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$60.0M
×18 vs prior year
Spent
$13.1M
To programs
93%
Net assets
$50.1M
By yearFY2023–FY2024
Revenue
$60.0M
FY2024▲ ×18
Tap a bar for its year
Revenue by fiscal year
FY2023$3.3M
FY2024$60.0M
Expenses
$13.1M
FY2024▲ ×186
Tap a bar for its year
Expenses by fiscal year
FY2023$70K
FY2024$13.1M
Net assets
$50.1M
FY2024▲ ×16
Tap a bar for its year
Net assets by fiscal year
FY2023$3.2M
FY2024$50.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2023.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $12.2M Management & general 7% · $868K

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

10 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation
Director and Chair
$278,189Pt VII · Sec A
Director and Sec/Treas.
$272,912Pt VII · Sec A
President
$267,958Pt VII · Sec A
Director & Vice Chair
$188,936Pt VII · Sec A
VP - Operatons
$178,356Pt VII · Sec A
Content Mgr.
$152,651Pt VII · Sec A
IT Director
$148,031Pt VII · Sec A
Finance Director
$135,704Pt VII · Sec A

Todd Graves’s $278K as Director and Chair is at the 63rd percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking 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 Herzog Foundation Resource Management 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 15aNo

Programs and updates

Supports Christian education through various programs and resources.

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Provided by the organization

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3 programs · $12.2M · in their own filed words · FY2024
01

Herzog Foundation Institute provides training, events, and conferences to address relevant topics within the Christian education sphere.

$5.6Mprogram expense
02

The organizations other programs in support of its exempt mission include awards to teachers and schools for excellent Christian education, the Ambassador program, SchoolBox and homeschool initiatives, and related facilities costs.

$4.0Mprogram expense
03

Communications and content includes articles, podcast productions, speaker series and other communication and education initiatives in support of the organizations exempt mission.

$2.6Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$59.8M
Grants paid · 6 grants · $135K · 2024–2024
Unitemized GrantFY2024$51,000
Unitemized GrantFY2024$32,500
Teach Them DiligentlyFY2024$15,000
Cedar Valley Christian SchoolFY2024$5,750

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$60.0M
Ln 12
Gifts and grantsLn 1h$59.8M
Investment incomeLn 3$141K
Money outPt IX
$13.1M
Ln 25
Programscol B$12.2M
Managementcol C$868K
Owns and owesPt X
$50.1M
net assets · Ln 32
Cash and savingsLn 1–2$14.1M
Total assetsLn 16$50.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A10
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$59.8M
Investment incomeLn 3$141K
Gains on assetsLn 7$90K
Total revenueLn 12$60.0M
Assets in detailPt X, end of year
SavingsLn 2$14.1M
Cash and savings togetherLn 1–2$14.1M
InvestmentsLn 11–13$9.8M
Land, buildings, equipmentLn 10c$26.2M
Total assetsLn 16$50.1M
LiabilitiesLn 26$0
Net assetsLn 32$50.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$0$14.1M
InvestmentsLn 11–13$0$9.8M
Land, buildings, equipmentLn 10c$3.1M$26.2M
Total assetsLn 16$3.2M$50.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.2M$50.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$137K$137K
Pay of current officers, directors and key staffLn 5$809K$526K$283K$0
Other salaries and wagesLn 7$2.9M$2.5M$418K$0
Pension plan contributionsLn 8$137K$113K$24K$0
Other employee benefitsLn 9$154K$154K$0$0
Payroll taxesLn 10$210K$182K$29K$0
Legal feesLn 11b$266K$266K$0$0
Investment management feesLn 11f$375$0$375$0
Other fees for servicesLn 11g$2.2M$2.2M$0$0
Advertising and promotionLn 12$727K$727K$0$0
Office expensesLn 13$780K$780K$0$0
OccupancyLn 16$327K$212K$114K$0
Conferences, conventions and meetingsLn 19$2.6M$2.6M$0$0
Depreciation, depletion and amortizationLn 22$117K$117K$0$0
Other expenses (24a–d)Ln 24$1.5M$1.5M$0$0
All other expensesLn 24e$203K$203K$0$0
Total functional expensesLn 25$13.1M$12.2M$868K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $60.0M$13.1M$46.9M$50.1M 990 PDF
FY2023 $3.3M$70K$3.2M$3.2M 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 J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $59,954,628 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,270,400$59,814,058
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,605$140,570
I-11 Other revenue$0
I-12 Total revenuePrior year $3,272,005$59,954,628
I-13 Grants and similar amounts paidPrior year $0$137,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $0$4,210,831
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $70,114$8,707,084
I-18 Total expensesPrior year $70,114$13,054,915
I-19 Revenue less expensesPrior year $3,201,891$46,899,713
Part VI · Governance 0 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $59,954,628 across 5 lines filed
VIII-1d Related organizations$59,814,058
VIII-1h Total contributions, gifts and grants$59,814,058
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $50,843$50,843
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $89,727$89,727
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $140,570$59,954,628
Part IX · Statement of functional expenses $13,054,915 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $137,000$137,000
IX-5 Pay of current officers, directors and key staffPrograms $526,117 · Management $283,294 · Fundraising $0$809,411
IX-7 Other salaries and wagesPrograms $2,482,760 · Management $417,701 · Fundraising $0$2,900,461
IX-8 Pension plan contributionsPrograms $112,620 · Management $24,134 · Fundraising $0$136,754
IX-9 Other employee benefitsPrograms $153,847 · Management $0 · Fundraising $0$153,847
IX-10 Payroll taxesPrograms $181,828 · Management $28,530 · Fundraising $0$210,358
IX-11b Legal feesPrograms $265,912 · Management $0 · Fundraising $0$265,912
IX-11f Investment management feesPrograms $0 · Management $375 · Fundraising $0$375
IX-11g Other fees for servicesPrograms $2,164,507 · Management $0 · Fundraising $0$2,164,507
IX-12 Advertising and promotionPrograms $727,180 · Management $0 · Fundraising $0$727,180
IX-13 Office expensesPrograms $779,712 · Management $0 · Fundraising $0$779,712
IX-16 OccupancyPrograms $212,257 · Management $114,292 · Fundraising $0$326,549
IX-19 Conferences, conventions and meetingsPrograms $2,591,115 · Management $0 · Fundraising $0$2,591,115
IX-22 Depreciation, depletion and amortizationPrograms $117,142 · Management $0 · Fundraising $0$117,142
IX-24 Other expenses (24a–d)Programs $1,531,253 · Management $0 · Fundraising $0$1,531,253
IX-24e All other expensesPrograms $203,339 · Management $0 · Fundraising $0$203,339
IX-25 Total functional expensesPrograms $12,186,589 · Management $868,326 · Fundraising $0$13,054,915
Part X · Balance sheet $50,101,604 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $0$14,091,517
X-10c Land, buildings and equipment, netStart of year $3,134,278$26,170,090
X-12 Other securitiesStart of year $0$9,839,997
X-16 Total assetsStart of year $3,201,891$50,101,604
X-17 Accounts payable and accrued expensesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $3,201,891$50,101,604
X-32 Total net assets or fund balancesStart of year $3,201,891$50,101,604
X-33 Total liabilities and net assetsStart of year $3,201,891$50,101,604
Part XI · Reconciliation of net assets $50,101,604 net assets at year end
XI-1 Total revenue$59,954,628
XI-2 Total expenses$13,054,915
XI-3 Revenue less expenses$46,899,713
XI-4 Net assets at start of year$3,201,891
XI-10 Net assets at end of year$50,101,604

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

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