IBIS GROUP: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- IBIS GROUP (EIN 26-0876000)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-12
- IRS object ID
- 202433179349305383
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-12T13:12:19-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4650 EAST 53RD STREET | AddressLine1Txt |
| City | DAVENPORT | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 528073479 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 260876000 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IBIS GROUP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | IBIS | BusinessNameControlTxt |
| Phone | 2022231854 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 55 M STREET SE 340 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20003 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHI KIM | PersonNm |
| Person Title | CHAIRMAN, BOARD OF TRUSTEES | PersonTitleTxt |
| Phone | 2022231854 | PhoneNum |
| Signature | 2024-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JENIFER L CHASE | PreparerPersonNm |
| PTIN | P01306883 | PTIN |
| Phone | 5638884000 | PhoneNum |
| Preparation | 2024-11-11 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CHI KIM | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 55 M STREET SE 340 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20003 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,034,502 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | THEIBISGROUP.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2007 | FormationYr |
| Legal Domicile State | DC | LegalDomicileStateCd |
| Activity Or Mission | THE IBIS GROUP IS DEVOTED TO IMPROVING LITERACY FOR CHILDREN AND ADULTS WITH A FOCUS ON SUPPORTING THOSE WITH DYSLEXIA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $42,838,571 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,117,460 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $42,838,571 | PYTotalRevenueAmt |
| CY Total Revenue | $2,117,460 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,125,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $9,320,483 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $418,790 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $88,000 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,479,182 | PYOtherExpensesAmt |
| CY Other Expenses | $1,000,445 | CYOtherExpensesAmt |
| PY Total Expenses | $4,022,972 | PYTotalExpensesAmt |
| CY Total Expenses | $10,408,928 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $38,815,599 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$8,291,468 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $145,205,588 | TotalAssetsBOYAmt |
| Total Assets EOY | $111,108,727 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,061,901 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,787,964 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $144,143,687 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $107,320,763 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO IMPROVE LITERACY FOR CHILDREN AND ADULTS WITH A FOCUS ON SUPPORTING THOSE WITH DYSLEXIA. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $9,840,533 | ExpenseAmt |
| Grant | $9,320,483 | GrantAmt |
| Desc | SUPPORT EDUCATION ASSESSMENT BY GRANT MAKING. | Desc |
| Total Program Service Expenses | $9,840,533 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 9 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANNE SAMAK DE LA CERDA | PersonNm |
| Phone | 2022231854 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 55 M STREET SE 340 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20003 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| CHI KIM | ||||||||
| TRUSTEE, CHAIR | 20.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MARIA NEIRA | ||||||||
| TRUSTEE, SECRETARY | 10.00 | Yes (X) | Yes (X) | $0 | $73,750 | $0 | 20.00 | |
| JASON GRIFFITHS | ||||||||
| TRUSTEE, EXECUTIVE DIRECTOR | 25.00 | Yes (X) | Yes (X) | $88,000 | $616,667 | $0 | 15.00 | |
| JAMES TANTON | ||||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| SALLY SHAYWITZ | ||||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| ROBERT PIANTA | ||||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| TERI LAWLER | ||||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| DAWN BROOKS DE COSTA | ||||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN LONGLEY | ||||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| LYNNE MUNSON | ||||||||
| FORMER TRUSTEE/EXECUTIVE DIRECTOR | 0.00 | $0 | $2,827,957 | $47,713 | 40.00 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $88,000 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $3,518,374 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $47,713 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| BLANK ROME LLP | |||||
| 1825 EYE STREET NW | WASHINGTON | DC | 20006 | LEGAL COUNSEL | $193,708 |
| WHITEBOARD ADVISORS | |||||
| 1000 POTOMAC ST NW STE 150 | WASHINGTON | DC | 20007 | PROGRAM MANAGEMENT | $175,862 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,117,460 | TotalRevenueColumnAmt |
| Exclusion | $2,117,460 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $4,917,042 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $4,917,042 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,117,460 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,117,460 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,320,483 | TotalAmt |
| Program Services | $9,320,483 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,000 | TotalAmt |
| Program Services | $88,000 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $278,419 | TotalAmt |
| Management And General | $278,419 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $145,670 | TotalAmt |
| Management And General | $145,670 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $376,369 | TotalAmt |
| Program Services | $329,426 | ProgramServicesAmt |
| Management And General | $46,943 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,909 | TotalAmt |
| Program Services | $14 | ProgramServicesAmt |
| Management And General | $3,895 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,026 | TotalAmt |
| Management And General | $47,026 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $103,262 | TotalAmt |
| Program Services | $96,031 | ProgramServicesAmt |
| Management And General | $7,231 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,922 | TotalAmt |
| Program Services | $2,622 | ProgramServicesAmt |
| Management And General | $9,300 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,244 | TotalAmt |
| Management And General | $28,244 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| DUES & SUBSCRIPTIONS | $3,957 | $3,957 | |
| OTHER EXPENSES | $1,667 | $1,667 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,408,928 | TotalAmt |
| Program Services | $9,840,533 | ProgramServicesAmt |
| Management And General | $568,395 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,580,306 | BOYAmt |
| EOY | $352,924 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,019,347 | BOYAmt |
| EOY | $42,656,089 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $25,236 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,605,935 | BOYAmt |
| EOY | $68,074,478 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $145,205,588 | BOYAmt |
| EOY | $111,108,727 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,898 | BOYAmt |
| EOY | $57,966 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $550,000 | BOYAmt |
| EOY | $3,710,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $405,003 | BOYAmt |
| EOY | $19,998 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,061,901 | BOYAmt |
| EOY | $3,787,964 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,143,687 | BOYAmt |
| EOY | $107,320,763 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,143,687 | BOYAmt |
| EOY | $107,320,763 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $145,205,588 | BOYAmt |
| EOY | $111,108,727 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$8,291,468 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$28,531,456 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $5,500 | CurrentTaxYearMinus2YearsAmt |
| Total | $5,500 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $118,815,892 | CurrentTaxYearMinus4YearsAmt |
| Total | $118,815,892 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $118,815,892 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus2 Years | $5,500 | CurrentTaxYearMinus2YearsAmt |
| Total | $118,821,392 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $118,821,392 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $219,152 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,739 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,610 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $422,604 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $2,117,460 | CurrentTaxYearAmt |
| Total | $2,770,565 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $219,152 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,739 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,610 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $422,604 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $2,117,460 | CurrentTaxYearAmt |
| Total | $2,770,565 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $119,035,044 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,739 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $8,110 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $422,604 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $2,117,460 | CurrentTaxYearAmt |
| Total | $121,591,957 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.97720 | PublicSupportCY509Pct |
| Public Support PY509 | 0.99600 | PublicSupportPY509Pct |
| Investment Income CY | 0.02280 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00400 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Closely Held Equity Interests CloselyHeldEquityInterestsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $68,074,478 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $68,074,478 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO GREAT MINDS PUBLIC BENEFIT CORPORATION | Desc |
| Amt | $19,998 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $19,998 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $7,034,502 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $7,034,502 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$4,917,042 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$4,917,042 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $2,117,460 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $15,325,970 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $4,917,042 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $4,917,042 | ExpensesNotReportedAmt |
| Expenses Subtotal | $10,408,928 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $10,408,928 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE ORGANIZATION IS SUBJECT TO TAXATION ON NET UNRELATED BUSINESS INCOME. DURING THE TAX YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION HAD NO NET UNRELATED BUSINESS INCOME. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | COSTS OF GOODS SOLD REPORTED ON PART VIII LINE 10B -4,917,042. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | COSTS OF GOODS SOLD REPORTED ON PART VIII LINE 10B 4,917,042. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (13 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| COLLABORATIVE FOR ACADEMIC SOCIAL AND EMOTIONAL LEARNING (CASEL) | ||||||||
| 815 WEST VAN BUREN STREET SUITE 210 | CHICAGO | IL | 60607 | 205884201 | 501(C)(3) | $250,000 | $0 | EDUCATIONAL GRANT |
| THE ALBERT SHANKER INSTITUTE | ||||||||
| 555 NEW JERSEY AVE NW | WASHINGTON | DC | 20001 | 521432693 | 501(C)(3) | $150,000 | $0 | EDUCATIONAL GRANT |
| DYSLEXIA ALLIANCE FOR BLACK CHILDREN | ||||||||
| 3 NORMA PLACE | SCARSDALE | NY | 10583 | 852395885 | 501(C)(3) | $300,000 | $0 | EDUCATIONAL GRANT |
| OUR DYSLEXIC CHILDREN INC | ||||||||
| 2125 WALTHAM ROAD | COLUMBUS | OH | 43221 | 850778068 | 501(C)(3) | $100,000 | $0 | EDUCATIONAL GRANT |
| LEARNING POLICY INSTITUTE | ||||||||
| 1530 PAGE MILL ROAD SUITE 250 | PALO ALTO | CA | 94304 | 472772048 | 501(C)(3) | $250,000 | $0 | EDUCATIONAL GRANT |
| MINNESOTA PUBLIC RADIO | ||||||||
| 480 CEDAR STREET | ST PAUL | MN | 55101 | 410953924 | 501(C)(3) | $200,000 | $0 | EDUCATIONAL GRANT |
| SUNY NEW PALTZ FOUNDATION INC | ||||||||
| 1 HAWK DRIVE | NEW PALTZ | NY | 12561 | 222141645 | 501(C)(3) | $2,660,000 | $0 | EDUCATIONAL GRANT |
| FOUNDATION FOR EXCELLENCE IN EDUCATION INC | ||||||||
| 215 SMONROE STREET SUITE 420 | TALLAHASSEE | FL | 32301 | 260615175 | 501(C)(3) | $400,000 | $0 | EDUCATIONAL GRANT |
| STANDARDS WORK INC | ||||||||
| 29 CARTER STREET | QUINCY | MA | 02169 | 521785250 | 501(C)(3) | $100,000 | $0 | EDUCATIONAL GRANT |
| ST JOSEPHS ACADEMY FOUNDATION | ||||||||
| 3015 BROUSSARD STREET | BATON ROUGE | LA | 70808 | 237004456 | 501(C)(3) | $25,000 | $0 | EDUCATIONAL GRANT |
| PROJECT UNITE INC | ||||||||
| 12400 WILSHIRE BOULEVARD SUITE 1275 | LOS ANGELES | CA | 90025 | 871541875 | 501(C)(3) | $400,000 | $0 | EDUCATIONAL GRANT |
| SJA FOUNDATION | ||||||||
| 3015 BROUSSARD STREET | BATON ROUGE | LA | 70808 | 237004456 | 501(C)(3) | $25,000 | $0 | EDUCATIONAL GRANT |
| SUNY NEW PALTZ FOUNDATION | ||||||||
| 1 HAWK DRIVE | NEW PALTZ | NY | 12561 | 222141645 | 501(C)(3) | $3,710,000 | $0 | EDUCATIONAL GRANT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 13 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION REQUIRES REPORTING DURING THE YEAR ON HOW THE GRANT FUNDS ARE USED. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LYNNE MUNSON | ||||||||||||||
| FORMER TRUSTEE/EXECUTIVE DIRECTOR | $0 | $712,434 | $0 | $2,082,075 | $0 | $33,448 | $0 | $16,500 | $0 | $31,213 | $0 | $2,875,670 | $0 | $0 |
| JASON GRIFFITHS | ||||||||||||||
| TRUSTEE, EXECUTIVE DIRECTOR | $88,000 | $616,667 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $88,000 | $616,667 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE FORMER EXECUTIVE DIRECTOR IS NOT COMPENSATED BY THE ORGANIZATION FOR HER SERVICES. THE FORMER EXECUTIVE DIRECTOR IS COMPENSATED BY GREAT MINDS PBC, THE ORGANIZATION'S SEVENTY-FIVE PERCENT OWNED SUBSIDIARY, FOR HER SERVICE AS ITS CHIEF EXECUTIVE OFFICER. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART V, LINE 15: | THE ORGANIZATION DID NOT REPORT OR PAY THE SECTION 4960 EXCISE TAX. THE FORMER EXECUTIVE DIRECTOR WAS NOT COMPENSATED BY THE ORGANIZATION DURING 2023. THE FORMER EXECUTIVE DIRECTOR IS COMPENSATED BY GREAT MINDS PBC, THE ORGANIZATION'S 75%-OWNED TAXABLE SUBSIDIARY, FOR HER SERVICE AS THAT COMPANY'S CHIEF EXECUTIVE OFFICER. SHE PROVIDED NO SERVICES TO THE ORGANIZATION DURING 2023. THE ORGANIZATION DID NOT REIMBURSE THE SUBSIDIARY FOR ANY TIME INCURRED. THEREFORE, THIS INDIVIDUAL IS DISREGARDED FOR PURPOSES OF SECTION 4960 DUE TO THE LIMITED HOURS EXCEPTION, PER REGS. SECTION 53.4960-1(D)(2)(II). |
| FORM 990, PART VI, SECTION A, LINE 3 | JASON GRIFFITHS, AN EMPLOYEE OF GREAT MINDS PBC, A RELATED ORGANIZATION, OVERSEES AND PERFORMS MANAGEMENT DUTIES FOR IBIS GROUP. JASON WAS COMPENSATED $88,000 AS AN INDEPENDENT CONTRACTOR FOR HIS SERVICES TO IBIS GROUP AS EXECUTIVE DIRECTOR. ALL OTHER REPORTABLE COMPENSATION REPORTED FOR JASON GRIFFITHS REPRESENTS COMPENSATION FROM GREAT MINDS PBC FOR SERVICES RENDERED SOLELY TO THAT ORGANIZATION UNDER A CONTRACT WITH THE PBC. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE IBIS GROUP'S GOVERNING BODY IS PROVIDED WITH A COPY OF THE FORM 990 FOR ITS REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL INTERESTED PERSONS ARE SUBJECT TO IBIS GROUP'S CONFLICT OF INTEREST POLICY. AN INTERESTED PERSON IS DEFINED AS ANY DIRECTOR, PRINCIPAL, OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS DIRECT OR INDIRECT FINANCIAL INTEREST. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON DISCLOSES THE EXISTENCE OF THE FINANCIAL INTEREST AND IS GIVEN AN OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF THE COMMITTEES WITH GOVERNING BOARD-DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER DISCUSSION WITH THE INTERESTED PERSON, HE/SHE LEAVES THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT OF INTEREST EXISTS. VIOLATION OF THE CONFLICTS OF INTEREST POLICY: IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT INFORMS THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORDS THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCE, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT TAKES APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| FORM 990, PART VI, SECTION C, LINE 19 | IBIS GROUP MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART X, LINE 12, REDUCTION IN INVESTMENT: | THE INVESTMENT HELD BY THE ORGANIZATION IN GREAT MINDS PBC WAS 75% AT DECEMBER 31, 2023. THE INVESTMENT IS ACCOUNTED FOR ON THE EQUITY METHOD. UNDER THE EQUITY METHOD, THE ORGANIZATION RECOGNIZED ITS SHARE OF EARNINGS BASED ON OWNERSHIP PERCENTAGES ANNUALLY DUIRNG 2023. DURING THE YEAR ENDING DECEMBER 31, 2023, THE ORGANIZATION RECOGNIZED THE LOSS OF $28,531,457 WHICH IS EQUAL TO ITS PROPORTIONAL SHARE OF GREAT MINDS PBC LOSS. |
| FORM 990, PART XI, LINE 9: | EQUITY LOSS ON GREAT MINDS PBC OPERATIONS -28,531,456. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT MINDS PUBLIC BENEFIT CORPORATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 55 M STREET SE STE 340 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20003 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 843785772 | EIN |
| Primary Activities | EDUCATION SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | DC | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT MINDS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $157,780,478 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $186,988,163 | ShareOfEOYAssetsAmt |
| Ownership | 0.75000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT MINDS PBC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | P | TransactionTypeTxt |
| Involved | $20,000 | InvolvedAmt |
| Method Of Amount Determination | COST | MethodOfAmountDeterminationTxt |