Edsource INC EIN 94-2434900

Edsource INC

EIN  94-2434900 Public charity (501(c)(3)) Oakland, CA
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/31/26 · see original filing: IRS
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Size
$1–10M
What they do
Distributes trustworthy and useful information about public education.
Leadership
Anne Vasquez · Former Chief Executive Officer · $186K
Money in and out
$2.7M revenue, $4.1M expenses
Bottom line
74% program efficiency

Distributes trustworthy and useful information about public education. For fiscal year 2025 it reported $2.7M in revenue, $4.1M in expenses, and $5.2M in net assets.Pt I

Where the money goes · FY2025
Total revenue
$2.7M
Pt VIII · Ln 12
Total expenses
$4.1M
Pt IX · Ln 25
Net assets
$5.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.4M
Where spending went · Part IX cols B–D
Program services $0.74 Management & general $0.19 Fundraising $0.07
Program efficiency
74%
of spending reaches programs0% vs prior filing year
Operating runway
14.4mo
months of highly liquid reserves at operating expense rate▲ +1% vs prior filing year
Surplus margin
-50%
revenue over expenses, this year▼ -431% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$2.7M
FY2025▼ -28%
Expenses
$4.1M
FY2025▼ -1%
Total assets
$6.1M
FY2025▼ -18%
Total liabilities
$933K
FY2025▼ -14%
Total revenue
$2.7M
Pt VIII · Ln 12
Total expenses
$4.1M
Pt IX · Ln 25
Net assets
$5.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.4M
Total assetsPt X · Ln 16$6.1M
Program-expense ratioPt IX · col B74%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $2.9M of program spending, described in the organization's own filed words · FY2024.
01

Produces timely daily reports on key education challenges facing california and the nation.

$2.5Mprogram expense
02

Produces digital content, podcasts, videos and roundtables on major education issues, such as early childhood education, parent engagement, and financial aid.

$244Kprogram expense
03

Key organization in the education data partnership, which offers data on schools, districts and state level issues in a user-friendly forms; convenes statewide conversations on key education policies, such as the educators network for effective school discipline.

$170Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CEdsource INC
EINHdr · item D94-2434900
Principal addressHdr · item COakland, CA
WebsiteHdr · item Jedsource.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B20E)
Ruling yearIRS BMFOct 1978

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Former Chief Executive Officer
$185,533Pt VII · Sec A
Editor-At-Large
$156,029Pt VII · Sec A
Director of Operations Thru 11/2024
$151,747Pt VII · Sec A
Director of Development
$123,765Pt VII · Sec A
Director of Comm. & Partnerships
$119,089Pt VII · Sec A
Investigative Reporter
$114,148Pt VII · Sec A
Chief Executive Officer Thru 01/2025
$111,898Pt VII · Sec A
Digital Comm & Community Eng. Mgr
$109,408Pt VII · Sec A

Anne Vasquez’s $186K as Former Chief Executive Officer is at the 79th percentile of top reported officer pay among 3393 $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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Louis Freedberg$174,519$293,281$293,411
Anne Vasquez$185,533$272,819$244,992$163,312$154,493
Stephanie T Nguyen$151,747$163,562$116,907
John Fensterwald$156,029$161,796$154,334$153,176$135,668$149,210
Rose Ciotta$129,064$120,788$114,368$111,520$113,013
Thalia Henderson$123,765$124,200
Denise Zapata$117,595$113,689$121,698
Thomas Christopher Peele$114,148$119,716$117,361$107,072

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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Statement of Revenue

Part VIII
Contributions & grants$2.3M · 84%
Investment income$332K · 12%
Program service revenue$114K · 4%
Contributions & grants84%$2.3M
Investment income12%$332K
Program service revenue4%$114K
Other revenue$3K
— government grantsLn 1e$4K
Total revenueLn 12$2.7M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.74 Management & general $0.19 Fundraising $0.07
Program services74%$3.0M
Management & general19%$771K
Fundraising7%$288K
Total functional expensesLn 25$4.1M

Balance Sheet

Part X · end of year
CashLn 1$948K
Total assetsLn 16$6.1M
Total liabilitiesLn 26$933K
Total net assetsLn 32$5.2M
Months of cash on handcomputed2.8

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4.9M · Operating expenses/yr $4.1M
14.4 months
Where the money goes
Program services
Program services $3.0M · Total expenses $4.1M
74%
Management & General
Management & general $771K · Total expenses $4.1M
19%
Fundraising
Fundraising $288K · Total expenses $4.1M
7%
Cost to raise $1
Fundraising expense (3-yr avg) $266K · Solicited contributions (3-yr avg) $3.6M
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.3M · Total revenue $2.7M
84%
Government reliance
Government grants $4K · Total revenue $2.7M
0%
Earned-income share
Program service revenue $114K · Total revenue $2.7M
4%
Investment reliance
Investment income $332K · Total revenue $2.7M
+12%
Program self-sufficiency
Program service revenue $114K · Total expenses $4.1M
3%
Growth & trend
Revenue growth (YoY)
This year $2.7M · Prior year $3.8M
-28%
Revenue CAGR
FY2019 $2.3M · FY2024 $2.7M
+3%
Net-asset trend (YoY)
End of year $5.2M · Beginning of year $6.3M
-19%
Balance sheet
Surplus Margin
Revenue $2.7M · Expenses $4.1M
-50%
Liabilities-to-Assets
Total liabilities $933K · Total assets $6.1M
15%
Net-asset ratio
Net assets $5.2M · Total assets $6.1M
85%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $3.9M · Other securities (Pt X, ln 12) $48K · Total assets (Pt X, ln 16) $6.1M
65%
People & payroll
Highest Reported Total Compensation
Individual John Fensterwald · Reported title EDITOR-AT-LARGE · Highest reported compensation $156K · Total expenses $4.1M
4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.1M · Total expenses $4.1M
74%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 74%
Overhead ratio 19%
Fundraising cost ratio 13%
Revenue growth -28%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$512

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$2.7M revenue · viewing · ⤓ 990 PDF
FY2024$3.8M revenue · ⤓ 990 PDF
FY2023$5.7M revenue · ⤓ 990 PDF
FY2022$3.3M revenue · ⤓ 990 PDF
FY2021$4.6M revenue · ⤓ 990 PDF
FY2020$2.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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