The Accelerated Schools FY2024 filing

Tax-deductible

Los Angeles, CA501(c)(3)Since 1999EducationEIN 95-4487850

The accelerated schools were founded on the belief that every child should be treated as gifted, with an emphasis on high expectations for student achievement, a supportive learning environment, and extensive parent involvement.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$2.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
0 of 5
filings with a surplus
Average deficit $2.5M a year · 8% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.4M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $210K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$22.3M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$39.4M
+10% vs prior year
Spent
$41.5M
To programs
82%
Net assets
$88.8M
By yearFY2020–FY2024
Revenue
$39.4M
FY2024▲ +10%
Revenue by fiscal year
FY2020$24.7M
FY2021$29.1M
FY2022$25.5M
FY2023$35.9M
FY2024$39.4M
FY2024$42.4M
Expenses
$41.5M
FY2024▲ +9%
Expenses by fiscal year
FY2020$24.9M
FY2021$30.1M
FY2022$32.7M
FY2023$38.1M
FY2024$41.5M
FY2024$43.5M
Net assets
$88.8M
FY2024▲ +0.5%
Net assets by fiscal year
FY2020$95.4M
FY2021$96.1M
FY2022$88.9M
FY2023$88.3M
FY2024$88.8M
FY2024$87.7M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2001.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $34.1M Management & general 18% · $7.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

21 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chief Executive Officer
$242,500Pt VII · Sec A
Former Cbo/CFO
$239,491Pt VII · Sec A
Chief HR Officer
$198,613Pt VII · Sec A
Director of Operations
$189,829Pt VII · Sec A
Director of Elementary Edu
$169,390Pt VII · Sec A
Head of Collage and Career Readiness
$168,580Pt VII · Sec A
Assistant Principal, Tas
$162,193Pt VII · Sec A
Director/Secretary
$159,062Pt VII · Sec A

Cynthia Foley’s $231K as Chief Human Resources Officer is at the 47th percentile of top reported officer pay among 3683 $10–100M 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Grace Lee-Chang$137,520$242,500$223,125$210,193$165,232$165,000
Stephen Dickinson—$239,491$153,307———
Cynthia Foley$230,954$198,613$161,798———
Debbie Kukta$213,750$154,052————
Kimberly Sheehan—$189,829$181,109———
Karin Figueroa$188,659$147,418$143,259———
Brian James$180,910$168,580————
Robert French$179,545$150,822$161,984$149,146$107,252—

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.

See The Accelerated Schools 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

Empowering underserved students through innovative educational programs and community support.

Provided by the organization

This section is blank until The Accelerated Schools claims this page.

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1 program service account for $34.1M of program spending, described in the organization's own filed words · FY2023.
01

The organization operates three charter schools; the accelerated school (tas), accelerated elementary charter school (aces), and wallis annenberg high school (wahs). Tas currently serves approximately 740 students in grades transitional kindergarten through eight.

$34.1Mprogram expense

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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
UnidosusFY2024$60K
Total grants receivedfrom 2 funders$210K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$39.4M
Ln 12
Gifts and grantsLn 1h$38.7M
Investment incomeLn 3$640K
Other incomeLn 4–11$12K
Money outPt IX
$41.5M
Ln 25
Programscol B$34.1M
Managementcol C$7.4M
Owns and owesPt X
$88.8M
net assets · Ln 32
Cash and savingsLn 1–2$4.9M
Total assetsLn 16$111.1M
LiabilitiesLn 26$22.3M
PeoplePt VI, VII
21
listed · VII A
PaidVII A14
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$38.7M
Government grantsLn 1e$38.7M
Investment incomeLn 3$640K
Other incomeLn 4–11$12K
Gains on assetsLn 7−$391K
Total revenueLn 12$39.4M
Assets in detailPt X, end of year
CashLn 1$4.5M
SavingsLn 2$409K
Cash and savings togetherLn 1–2$4.9M
InvestmentsLn 11–13$32.6M
Land, buildings, equipmentLn 10c$65.7M
Other assetsLn 15$238K
Total assetsLn 16$111.1M
LiabilitiesLn 26$22.3M
Net assetsLn 32$88.8M
OperationsPt I, VI
EmployeesI 5275
VolunteersI 66
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
LineStart FY24End FY24
Cash and savingsLn 1–2$6.7M$4.9M
InvestmentsLn 11–13$29.3M$32.6M
Land, buildings, equipmentLn 10c$66.9M$65.7M
Total assetsLn 16$112.7M$111.1M
LiabilitiesLn 26$24.4M$22.3M
Net assetsLn 32$88.3M$88.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$616K$435K$181K
Other salaries and wagesLn 7$17.0M$13.6M$3.3M
Pension plan contributionsLn 8$2.1M$2.0M$79K
Other employee benefitsLn 9$2.2M$1.8M$345K
Payroll taxesLn 10$551K$282K$269K
Legal feesLn 11b$143K$143K
Accounting feesLn 11c$441K$441K
Other fees for servicesLn 11g$3.6M$2.7M$851K
Office expensesLn 13$833K$414K$419K
Information technologyLn 14$200K$200K
OccupancyLn 16$2.4M$1.9M$421K
TravelLn 17$218K$218K
Conferences, conventions and meetingsLn 19$83K$83K
InterestLn 20$178K$178K
Depreciation, depletion and amortizationLn 22$2.2M$2.1M$83K
InsuranceLn 23$236K$236K
Other expenses (24a–d)Ln 24$8.7M$8.5M$237K
Total functional expensesLn 25$41.5M$34.1M$7.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $39.4M$41.5M−$2.1M$88.8M 990 PDF
FY2023 $35.9M$38.1M−$2.2M$88.3M 990 PDF
FY2022 $25.5M$32.7M−$7.2M$88.9M 990 PDF
FY2021 $29.1M$30.1M−$1.0M$96.1M 990 PDF
FY2020 $24.7M$24.9M−$182K$95.4M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $39,390,340 across 7 lines filed
VIII-1e Government grants$38,660,955
VIII-1f All other contributions, gifts and grants$77,468
VIII-1h Total contributions, gifts and grants$38,738,423
VIII-3 Investment incomeExcluded from tax $1,031,219$1,031,219
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$391,342−$391,342
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $12,040$12,040
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $651,917$39,390,340
Part IX · Statement of functional expenses $41,511,622 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $435,130 · Management $181,250$616,380
IX-7 Other salaries and wagesPrograms $13,643,997 · Management $3,323,225$16,967,222
IX-8 Pension plan contributionsPrograms $1,983,458 · Management $78,959$2,062,417
IX-9 Other employee benefitsPrograms $1,809,883 · Management $344,662$2,154,545
IX-10 Payroll taxesPrograms $282,043 · Management $268,628$550,671
IX-11b Legal feesManagement $143,404$143,404
IX-11c Accounting feesManagement $441,088$441,088
IX-11g Other fees for servicesPrograms $2,721,439 · Management $850,827$3,572,266
IX-13 Office expensesPrograms $414,351 · Management $419,048$833,399
IX-14 Information technologyManagement $200,077$200,077
IX-16 OccupancyPrograms $1,939,627 · Management $420,886$2,360,513
IX-17 TravelPrograms $218,303$218,303
IX-19 Conferences, conventions and meetingsPrograms $83,112$83,112
IX-20 InterestManagement $178,170$178,170
IX-22 Depreciation, depletion and amortizationPrograms $2,091,971 · Management $82,540$2,174,511
IX-23 InsuranceManagement $235,779$235,779
IX-24 Other expenses (24a–d)Programs $8,482,931 · Management $236,834$8,719,765
IX-25 Total functional expensesPrograms $34,106,245 · Management $7,405,377 · Fundraising $0$41,511,622
Part X · Balance sheet $111,077,721 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $6,030,130$4,540,828
X-2 Savings and temporary cash investmentsStart of year $662,519$409,001
X-4 Accounts receivableStart of year $9,407,412$7,208,572
X-9 Prepaid expenses and deferred chargesStart of year $158,768$403,329
X-10c Land, buildings and equipment, netStart of year $66,917,426$65,704,642
X-11 Publicly traded securitiesStart of year $29,281,632$32,572,914
X-15 Other assetsStart of year $230,986$238,435
X-16 Total assetsStart of year $112,688,873$111,077,721
X-17 Accounts payable and accrued expensesStart of year $4,691,738$4,454,398
X-19 Deferred revenueStart of year $10,453,030$8,929,344
X-25 Other liabilitiesStart of year $236,136$243,586
X-26 Total liabilitiesStart of year $24,365,221$22,303,272
X-27 Net assets without donor restrictionsStart of year $88,323,652$88,774,449
X-32 Total net assets or fund balancesStart of year $88,323,652$88,774,449
X-33 Total liabilities and net assetsStart of year $112,688,873$111,077,721
Part XI · Reconciliation of net assets $88,774,449 net assets at year end
XI-1 Total revenue$39,390,340
XI-2 Total expenses$41,511,622
XI-3 Revenue less expenses−$2,121,282
XI-4 Net assets at start of year$88,323,652
XI-5 Net unrealized gains (losses) on investments$2,692,708
XI-7 Investment expenses−$120,629
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$88,774,449

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

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