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Ed23 Foundation INC FY2024 filing

Tax-deductible

Syracuse, NY501(c)(3)Since 2023Recreation & SportsEIN 93-3067885Revenue $239K in FY2024

On file with the IRSed23foundation.org4596 Nixon Park Dr Ste 3, 13215-9814 · Syracuse, NYTax-exempt since Oct 2023Publicly supported — 509(a)(2)

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Provide charitable funding for basektball camps and general welfare in the urban and general syracuse area in new york. The organization will also teach and operate these basketball camps and provide funding and coaching for youth teams to play in amateur basketball tournaments.

501(c)(3) charity; gifts are tax-deductible.
84¢ 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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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
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
1 of 2
filings with a surplus
Average surplus $6K a year · 3% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $330K
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
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$239K
+400% vs prior year
Spent
$239K
To programs
84%
Net assets
$37K
By yearFY2023–FY2025
Revenue
$239K
FY2024▲ +400%
Tap a bar for its year
Revenue by fiscal year
FY2023$48K
FY2024$239K
FY2025$131K
Expenses
$239K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2023Not on file
FY2024$239K
FY2025$118K
Net assets
$37K
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2023$35K
FY2024$37K
FY2025$50K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

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

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $202K Management & general 4% · $11K Fundraising 11% · $27K

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
$0Pt VII · Sec A
$0Pt VII · Sec A
Xavier Mann
Vice President
$0Pt VII · Sec A
Serena Romero
Secretary
$0Pt VII · Sec A
See Ed23 Foundation INC 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

Funds and operates basketball camps, teaching youth skills and supporting teams in Syracuse.

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Provided by the organization

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3 programs · $202K · in their own filed words · FY2024
01

Organization received income from empire state nil LLC which it then paid out as appearance fees to the same company for services from student athletes to attend events and camps throughout the year to help advertise in getting people to the camps, to increase donations from the general public, and to help participate in teaching kids…

$152Kprogram expense
02

Organization helped fund and contribute to the gym rental fees, supplies, coaches, tournament registrations, and travel for basketball camps and tournament teams for the entire 2024 year.

$44Kprogram expense
03

Organization operates a food drive the week of thanksgiving and handed out over 500 turkeys and other thanksgiving food to the syracuse community.

$6Kprogram 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
Central New York Community Foundation INCFY2024$330K
Total grants receivedfrom 1 funder$330K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$239K
Ln 12
Fees for servicesLn 2g$152K
Gifts and grantsLn 1h$87K
Money outPt IX
$239K
Ln 25
Programscol B$202K
Managementcol C$11K
Fundraisingcol D$27K
Owns and owesPt X
$37K
net assets · Ln 32
Cash and savingsLn 1–2$37K
Total assetsLn 16$37K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$87K
Fundraising eventsLn 1c$87K
Fees for servicesLn 2g$152K
Total revenueLn 12$239K
Assets in detailPt X, end of year
CashLn 1$37K
Cash and savings togetherLn 1–2$37K
Total assetsLn 16$37K
LiabilitiesLn 26$0
Net assetsLn 32$37K
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
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$37K$37K
Total assetsLn 16$37K$37K
LiabilitiesLn 26$0$0
Net assetsLn 32$37K$37K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$157K$155K$2K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$3K$2K$1K
OccupancyLn 16$43K$22K$21K
TravelLn 17$3K$905$2K
Conferences, conventions and meetingsLn 19$5K$5K
Other expenses (24a–d)Ln 24$25K$24K$57$792
All other expensesLn 24e$50$50
Total functional expensesLn 25$239K$202K$11K$27K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $131K$118K$13K$50K 990 PDF
FY2024 Viewing $239K$239K−$455$37K 990 PDF
FY2023 $48K$35K 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 FY2024 990 (6 parts)
Part I · Summary $238,746 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $47,721$86,746
I-9 Program service revenue$152,000
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $47,721$238,746
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising feesPrior year $450$0
I-17 Other expensesPrior year $10,135$239,201
I-18 Total expensesPrior year $10,585$239,201
I-19 Revenue less expensesPrior year $37,136−$455
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $238,746 across 5 lines filed
VIII-1c Fundraising events$86,746
VIII-1h Total contributions, gifts and grants$86,746
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $152,000$152,000
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $152,000 · Unrelated business $0 · Excluded from tax $0$238,746
Part IX · Statement of functional expenses $239,201 across 9 lines filed
IX-11c Accounting feesManagement $2,035$2,035
IX-11g Other fees for servicesPrograms $155,300 · Fundraising $2,000$157,300
IX-12 Advertising and promotionFundraising $1,799$1,799
IX-13 Office expensesManagement $2,031 · Fundraising $1,352$3,383
IX-16 OccupancyPrograms $21,858 · Fundraising $20,689$42,547
IX-17 TravelPrograms $905 · Management $1,695$2,600
IX-19 Conferences, conventions and meetingsManagement $4,636$4,636
IX-24 Other expenses (24a–d)Programs $24,002 · Management $57 · Fundraising $792$24,851
IX-24e All other expensesManagement $50$50
IX-25 Total functional expensesPrograms $202,065 · Management $10,504 · Fundraising $26,632$239,201
Part X · Balance sheet $36,681 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $37,136$36,681
X-16 Total assetsStart of year $37,136$36,681
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $37,136$36,681
X-33 Total liabilities and net assetsStart of year $37,136$36,681
Part XI · Reconciliation of net assets $36,681 net assets at year end
XI-1 Total revenue$238,746
XI-2 Total expenses$239,201
XI-3 Revenue less expenses−$455
XI-4 Net assets at start of year$37,136
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$36,681

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

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