Provide postsecondary higher education to a number of students.

501(c)(3) charity; gifts are tax-deductible.
47¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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
2 of 4
filings with a surplus
Average surplus $3K a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
47%
of spending
Concern: 47% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
6 mo
of spending, in cash
Looks good: 5.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$501K
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$940K
-1% vs prior year
Spent
$1.0M
To programs
47%
Net assets
$468K
By yearFY2021–FY2025
Revenue
$940K
FY2024▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2021$656K
FY2023$950K
FY2024$940K
FY2025$947K
Expenses
$1.0M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$603K
FY2023$951K
FY2024$1.0M
FY2025$913K
Net assets
$468K
FY2024▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2021$718K
FY2023$540K
FY2024$468K
FY2025$722K

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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1996.

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

Where the money goes

47 cents of each dollar spent went to programs.

Program services 47% · $471K Management & general 53% · $542K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$0Pt VII · Sec A
See Kernel University 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers college education to students.

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1 program · $400K · in their own filed words · FY2023
01

Tuition and fees from enrollment

$400Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$940K
Ln 12
Fees for servicesLn 2g$900K
Gifts and grantsLn 1h$37K
Investment incomeLn 3$3K
Money outPt IX
$1.0M
Ln 25
Programscol B$471K
Managementcol C$542K
Owns and owesPt X
$468K
net assets · Ln 32
Cash and savingsLn 1–2$469K
Total assetsLn 16$969K
LiabilitiesLn 26$501K
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$37K
Fees for servicesLn 2g$900K
Investment incomeLn 3$3K
Total revenueLn 12$940K
Assets in detailPt X, end of year
CashLn 1$229K
SavingsLn 2$240K
Cash and savings togetherLn 1–2$469K
Land, buildings, equipmentLn 10c$216K
Other assetsLn 15$112K
Total assetsLn 16$969K
LiabilitiesLn 26$501K
Net assetsLn 32$468K
OperationsPt I, VI
EmployeesI 514
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
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$588K$469K
Land, buildings, equipmentLn 10c$288K$216K
Total assetsLn 16$1.1M$969K
LiabilitiesLn 26$518K$501K
Net assetsLn 32$540K$468K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$168K$168K
Pay of disqualified personsLn 6$93K$93K
Other salaries and wagesLn 7$111K$111K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$25K$10K$15K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$18K$7K$11K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$10K$10K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$208K$208K
TravelLn 17$4K$4K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$3K$3K
InterestLn 20$14K$14K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$72K$72K
InsuranceLn 23$19K$19K
All other expensesLn 24e$260K$235K$25K
Total functional expensesLn 25$1.0M$471K$542K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $947K$913K$34K$722K 990 PDF
FY2024 Viewing $940K$1.0M−$73K$468K 990 PDF
FY2023 $950K$951K−$1K$540K 990 PDF
FY2022 Not on file
FY2021 $656K$603K$53K$718K 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 O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $939,892 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,230$37,000
I-9 Program service revenuePrior year $937,076$899,585
I-10 Investment incomePrior year $4,705$3,307
I-11 Other revenuePrior year $4,066$0
I-12 Total revenuePrior year $950,077$939,892
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $359,821$397,042
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $591,425$615,399
I-18 Total expensesPrior year $951,246$1,012,441
I-19 Revenue less expensesPrior year −$1,169−$72,549
Part VI · Governance 2 of 2 board members independent, 5 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $939,892 across 4 lines filed
Lines not itemized here account for $899,585 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$37,000
VIII-1h Total contributions, gifts and grants$37,000
VIII-3 Investment incomeUnrelated business $3,307$3,307
VIII-12 Total revenueRelated to mission $899,585 · Unrelated business $3,307$939,892
Part IX · Statement of functional expenses $1,012,441 across 29 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $168,000$168,000
IX-6 Pay of disqualified personsPrograms $92,670$92,670
IX-7 Other salaries and wagesPrograms $110,900$110,900
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $10,189 · Management $15,283$25,472
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $7,000 · Management $10,943$17,943
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotionPrograms $8,585$8,585
IX-13 Office expensesManagement $10,032$10,032
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyManagement $207,782$207,782
IX-17 TravelPrograms $3,835$3,835
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $2,730$2,730
IX-20 InterestManagement $13,504$13,504
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $72,453$72,453
IX-23 InsuranceManagement $18,576$18,576
IX-24e All other expensesPrograms $234,952 · Management $25,007$259,959
IX-25 Total functional expensesPrograms $470,861 · Management $541,580 · Fundraising $0$1,012,441
Part X · Balance sheet $968,789 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $588,354$228,957
X-2 Savings and temporary cash investments$240,000
X-4 Accounts receivableStart of year $168,705$172,350
X-10c Land, buildings and equipment, netStart of year $288,070$215,617
X-15 Other assetsStart of year $13,100$111,865
X-16 Total assetsStart of year $1,058,229$968,789
X-17 Accounts payable and accrued expensesStart of year $6,651$2,619
X-19 Deferred revenueStart of year $17,400$17,121
X-26 Total liabilitiesStart of year $517,912$501,021
X-32 Total net assets or fund balancesStart of year $540,317$467,768
X-33 Total liabilities and net assetsStart of year $1,058,229$968,789
Part XI · Reconciliation of net assets $467,768 net assets at year end
XI-1 Total revenue$939,892
XI-2 Total expenses$1,012,441
XI-3 Revenue less expenses−$72,549
XI-4 Net assets at start of year$540,317
XI-10 Net assets at end of year$467,768

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

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