Edsource INC: Nonprofit Profile, Financials & Form 990 (EIN 94-2434900)

Revenue by fiscal year
FY2020	$2.3M
FY2021	$4.6M
FY2022	$3.3M
FY2023	$5.7M
FY2024	$3.8M
FY2025	$2.7M

Expenses by fiscal year
FY2020	$3.2M
FY2021	$3.7M
FY2022	$3.5M
FY2023	$3.7M
FY2024	$4.2M
FY2025	$4.1M

Net assets by fiscal year
FY2020	$3.4M
FY2021	$4.5M
FY2022	$3.9M
FY2023	$6.2M
FY2024	$6.3M
FY2025	$5.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1978.

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

Where the money goes

74 cents of each dollar spent went to programs.

74%

19%

Program services 74% · $3.0M Management & general 19% · $771K Fundraising 7% · $288K

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

20 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Anne Vasquez

Former Chief Executive Officer

$185,533Pt VII · Sec A

John Fensterwald

Editor-At-Large

$156,029Pt VII · Sec A

Stephanie T Nguyen

Director of Operations Thru 11/2024

$151,747Pt VII · Sec A

Thalia Henderson

Director of Development

$123,765Pt VII · Sec A

Smita Patel

Director of Comm. & Partnerships

$119,089Pt VII · Sec A

Thomas Christopher Peele

Investigative Reporter

$114,148Pt VII · Sec A

Louis Freedberg Interim

Chief Executive Officer Thru 01/2025

$111,898Pt VII · Sec A

Andrew K Klein-Reed

Digital Comm & Community Eng. Mgr

$109,408Pt VII · Sec A

Anne Vasquez’s $186K as Former Chief Executive Officer is at the 78th percentile of top reported officer pay among 3395 $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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
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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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

Distributes trustworthy and useful information about public education.

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Provided by the organization

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3 programs · $2.9M · in their 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

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 · FY2025

The Arrebak FoundationFY2025$512

Total grants receivedfrom 1 funder$512

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.7M

Ln 12

Gifts and grantsLn 1h$2.3M

Investment incomeLn 3$332K

Fees for servicesLn 2g$114K

Money outPt IX

$4.1M

Ln 25

Programscol B$3.0M

Managementcol C$771K

Fundraisingcol D$288K

Owns and owesPt X

$5.2M

net assets · Ln 32

Cash and savingsLn 1–2$948K

Total assetsLn 16$6.1M

LiabilitiesLn 26$933K

PeoplePt VI, VII

20

listed · VII A

PaidVII A10

Voting boardVI 1a8

IndependentVI 1b8

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.3M

Government grantsLn 1e$4K

Fees for servicesLn 2g$114K

Investment incomeLn 3$332K

Other incomeLn 4–11$3K

Gains on assetsLn 7$189K

Total revenueLn 12$2.7M

Assets in detailPt X, end of year

CashLn 1$948K

Cash and savings togetherLn 1–2$948K

InvestmentsLn 11–13$4.0M

Land, buildings, equipmentLn 10c$45K

Other assetsLn 15$649K

Total assetsLn 16$6.1M

LiabilitiesLn 26$933K

Net assetsLn 32$5.2M

OperationsPt I, VI

EmployeesI 530

VolunteersI 617

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$1.1M	$948K
InvestmentsLn 11–13	$3.9M	$4.0M
Land, buildings, equipmentLn 10c	$55K	$45K
Total assetsLn 16	$7.4M	$6.1M
LiabilitiesLn 26	$1.1M	$933K
Net assetsLn 32	$6.3M	$5.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$539K	$281K	$173K	$85K
Other salaries and wagesLn 7	$2.1M	$1.8M	$169K	$129K
Pension plan contributionsLn 8	$71K	$57K	$10K	$4K
Other employee benefitsLn 9	$181K	$146K	$22K	$13K
Payroll taxesLn 10	$204K	$153K	$35K	$16K
Legal feesLn 11b	$16K		$16K
Accounting feesLn 11c	$97K		$97K
Investment management feesLn 11f	$28K		$28K
Other fees for servicesLn 11g	$538K	$384K	$144K	$11K
Office expensesLn 13	$20K	$10K	$6K	$3K
Information technologyLn 14	$92K	$76K	$6K	$11K
OccupancyLn 16	$184K	$122K	$50K	$12K
TravelLn 17	$57K	$42K	$11K	$4K
Depreciation, depletion and amortizationLn 22	$11K	$11K
All other expensesLn 24e	$5K	$704	$4K	$67
Total functional expensesLn 25	$4.1M	$3.0M	$771K	$288K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$2.7M	$4.1M	−$1.4M	$5.2M	990 PDF
FY2024	$3.8M	$4.2M	−$356K	$6.3M	990 PDF
FY2023	$5.7M	$3.7M	$2.0M	$6.2M	990 PDF
FY2022	$3.3M	$3.5M	−$227K	$3.9M	990 PDF
FY2021	$4.6M	$3.7M	$951K	$4.5M	990 PDF
FY2020	$2.3M	$3.2M	−$847K	$3.4M	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 FY2025 990 (6 parts)

Part I · Summary $2,741,728 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,388,313$2,293,072

I-9 Program service revenuePrior year $345,666$113,534

I-10 Investment incomePrior year $59,969$332,178

I-11 Other revenuePrior year $6,999$2,944

I-12 Total revenuePrior year $3,800,947$2,741,728

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 $3,243,633$3,058,625

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

I-17 Other expensesPrior year $913,777$1,047,498

I-18 Total expensesPrior year $4,157,410$4,106,123

I-19 Revenue less expensesPrior year −$356,463−$1,364,395

Part VI · Governance 8 of 8 board members independent, no flags

VI-1a Voting members of the governing body8

VI-1b Independent voting members8

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

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

Part VIII · Statement of revenue $2,741,728 across 9 lines filed

VIII-1e Government grants$4,019

VIII-1f All other contributions, gifts and grants$2,289,053

VIII-1h Total contributions, gifts and grants$2,293,072

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $113,534$113,534

VIII-3 Investment incomeExcluded from tax $143,397$143,397

VIII-5 RoyaltiesExcluded from tax $214$214

VIII-7 Net gain or loss on sales of assetsExcluded from tax $188,781$188,781

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,730$2,730

VIII-12 Total revenueRelated to mission $116,264 · Unrelated business $0 · Excluded from tax $332,392$2,741,728

Part IX · Statement of functional expenses $4,106,123 across 15 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $280,645 · Management $173,093 · Fundraising $85,488$539,226

IX-7 Other salaries and wagesPrograms $1,765,385 · Management $169,486 · Fundraising $128,779$2,063,650

IX-8 Pension plan contributionsPrograms $57,097 · Management $9,704 · Fundraising $4,441$71,242

IX-9 Other employee benefitsPrograms $145,646 · Management $22,129 · Fundraising $12,794$180,569

IX-10 Payroll taxesPrograms $153,245 · Management $34,959 · Fundraising $15,734$203,938

IX-11b Legal feesManagement $15,848$15,848

IX-11c Accounting feesManagement $96,591$96,591

IX-11f Investment management feesManagement $27,634$27,634

IX-11g Other fees for servicesPrograms $383,516 · Management $144,252 · Fundraising $10,677$538,445

IX-13 Office expensesPrograms $10,287 · Management $6,308 · Fundraising $3,299$19,894

IX-14 Information technologyPrograms $75,574 · Management $6,202 · Fundraising $10,550$92,326

IX-16 OccupancyPrograms $121,617 · Management $49,712 · Fundraising $12,489$183,818

IX-17 TravelPrograms $42,440 · Management $10,922 · Fundraising $3,994$57,356

IX-22 Depreciation, depletion and amortizationPrograms $10,609$10,609

IX-24e All other expensesPrograms $704 · Management $4,206 · Fundraising $67$4,977

IX-25 Total functional expensesPrograms $3,046,765 · Management $771,046 · Fundraising $288,312$4,106,123

Part X · Balance sheet $6,094,082 assets, 16 lines filed

X-1 Cash, non-interest-bearingStart of year $1,072,953$948,144

X-3 Pledges and grants receivableStart of year $1,509,107$450,000

X-4 Accounts receivableStart of year $140,586$0

X-9 Prepaid expenses and deferred chargesStart of year $21,274$13,145

X-10c Land, buildings and equipment, netStart of year $55,221$44,612

X-11 Publicly traded securitiesStart of year $3,807,498$3,941,707

X-12 Other securitiesStart of year $69,320$47,818

X-15 Other assetsStart of year $754,760$648,656

X-16 Total assetsStart of year $7,430,719$6,094,082

X-17 Accounts payable and accrued expensesStart of year $291,180$243,934

X-25 Other liabilitiesStart of year $791,222$688,923

X-26 Total liabilitiesStart of year $1,082,402$932,857

X-27 Net assets without donor restrictionsStart of year $4,167,083$3,952,936

X-28 Net assets with donor restrictionsStart of year $2,181,234$1,208,289

X-32 Total net assets or fund balancesStart of year $6,348,317$5,161,225

X-33 Total liabilities and net assetsStart of year $7,430,719$6,094,082

Part XI · Reconciliation of net assets $5,161,225 net assets at year end

XI-1 Total revenue$2,741,728

XI-2 Total expenses$4,106,123

XI-3 Revenue less expenses−$1,364,395

XI-4 Net assets at start of year$6,348,317

XI-5 Net unrealized gains (losses) on investments$177,303

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$5,161,225

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

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