2026-05-20T07:20:40-05:00 2025-12-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2025-01-01 815338932 CODEPATHORG CODE 4153086845 2021 FILLMORE STREET PMB 1154 SAN FRANCISCO CA 94115 MICHAEL ELLISON CEO 4153086845 2026-05-20 1 RICHARD J LOCASTRO CPA P00288314 3019519090 2025 2025-03-06 01:10:19Z X MICHAEL ELLISON 2021 FILLMORE STREET PMB 1154 SAN FRANCISCO CA 94115 35370428 0 X WWW.CODEPATH.ORG X 2017 CA SEE PART III, LINE 1. 7 6 804 1964 0 0 21050737 24799510 2961723 5419193 957563 883603 18737 16168 24988760 31118474 578500 17000 0 0 11652232 16993136 0 0 2984663 10255801 12183206 22486533 29193342 2502227 1925132 37430781 38166413 3488938 2378039 33941843 35788374 X CODEPATH'S MISSION IS TO REPROGRAM HIGHER EDUCATION TO CREATE THE FIRST AI-NATIVE GENERATION OF ENGINEERS, CTOS, AND FOUNDERS. THE ORGANIZATION DELIVERS INDUSTRY-VETTED COURSES AND CAREER SUPPORT CENTERED ON THE NEEDS OF FIRST GENERATION AND LOW-INCOME STUDENTS. CODEPATH'S STUDENTS TRAIN WITH SENIOR ENGINEERS, INTERN AT TOP COMPANIES, AND RISE TOGETHER TO BECOME THE TECH LEADERS OF TOMORROW. 0 0 21583621 17000 5419193 CODEPATH UNIVERSITY COURSES DELIVER INDUSTRY-VETTED CURRICULUM TO UNDERGRADUATE COMPUTER SCIENCE STUDENTS, FOCUSING ON BUILDING FUNDAMENTAL SKILLS FOR FIRST-GENERATION AND LOW-INCOME STUDENTS, AUGMENTING EXISTING UNIVERSITY COURSEWORK, PROVIDING HANDS-ON PROGRAMMING EXPERIENCE, AND INSPIRING CREATIVITY IN SOFTWARE DEVELOPMENT, ALL AT NO CHARGE. THE SUMMER INTERNSHIP FOR TECH EXCELLENCE (SITE) PROGRAM SUPPORTS RISING JUNIORS WITH HANDS-ON WORK EXPERIENCE AND WEEKLY MENTORSHIP FROM VARIOUS SOFTWARE ENGINEERING TEAMS, INTRODUCING THEM TO FULL-STACK WEB DEVELOPMENT, INCLUDING DATABASE, BACKEND, FRONTEND CODE, TESTING, DESIGN, AND DEPLOYMENT WHILE CULMINATING IN A CAPSTONE PROJECT THAT EXTENDS BEYOND THE INTERNSHIP. 21583621 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 161 0 1 804 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA CO CT FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC OK OR PA RI SC TN UT VA WA WV WI X X MICHAEL ELLISON 4153086845 2021 FILLMORE STREET PMB 1154 SAN FRANCISCO CA 94115 MICHAEL ELLISON CEO &/PRESIDENT 40.00 X X 389972 0 15734 JULES WALTER BOARD MEMBER/VP & SECRETARY 2.00 X X 0 0 0 DOUG BORCHARD BOARD MEMBER 1.00 X 0 0 0 GABRIEL AUL BOARD MEMBER 1.00 X 0 0 0 DALILA WILSON SCOTT BOARD MEMBER 1.00 X 0 0 0 KRISTEN TITUS BOARD MEMBER 1.00 X 0 0 0 VALDIMIR FEDEROV BOARD MEMBER 1.00 X 0 0 0 TIMOTHY LEE CHIEF LEARNING OFFICER 40.00 X 340063 0 21031 CHRISTOPHER COLEMAN CHIEF PRODUCT OFFICER 40.00 X 316620 0 24613 DANA LEDYARD COO/TREASURER (UNTIL 10/24) 40.00 X 259183 0 5706 NATHAN ESQUENAZI CHIEF TECHNOLOGY OFFICER 20.00 X 174167 0 6657 BRIAN MADIGAN COO/TREASURER (FROM 10/06) 40.00 X 102032 0 4154 EMILY CHONG VICE PRESIDENT OF GROWTH 40.00 X 243227 0 22829 ZACK PARKER VICE PRESIDENT PRODUCT ENGINEERING 40.00 X 247107 0 17066 KEITHE WILLIAMS SENIOR DIRECTOR OF PROGRAMS AND COMMUNITY ENGAGEME 40.00 X 224792 0 36744 BENJAMIN CHUN LEAD PRODUCT MANAGER 40.00 X 217918 0 14643 YULIYA SPEKTORSKY ACCOUNT DIRECTOR, ENTERPRISE 40.00 X 211461 0 600 2726542 0 169777 50 0 1 0 RAISE FOR GOOD 2261 MARKET STREET 4260 SAN FRANCISCO CA 94114 STRATEGIC CONSULTING SERVICES 680000 BOSTON COLLEGE 140 COMMONWEALTH AVENUE CHESTNUT HILL MA 02467 RESEARCH SERVICES 424918 DRIVENDATA INC 700 COLORADO BOULEVARD 611 DENVER CO 80206 DATA SCIENCE SERVICES 420000 THE MILKEN INSTITUTE 1250 4TH STREET 2ND FLOOR SANTA MONICA CA 90401 POLICY RESEARCH AND CONVENING SERVICES 325000 TOPTAL 548 MARKET STREET ECM 36879 SAN FRANCISCO CA 94104 SOFTWARE DEVELOPMENT SERVICES 255585 18 207376 24592134 303219 24799510 CUSTOM TRAINING DEVELOPMENT 611430 5419193 5419193 5419193 785457 785457 4350100 4251954 98146 98146 98146 MISCELLANEOUS INCOME 900099 16168 16168 16168 31118474 5419193 0 899771 X 17000 17000 1659932 883151 776781 13250160 10035630 1774235 1440295 829271 612314 128866 88091 1253773 918549 213475 121749 104353 45722 30011 28620 167335 73317 48124 45894 72130 72130 6138673 4274797 954044 909832 877522 781318 36181 60023 256053 219196 23701 13156 47032 2198 43888 946 529576 325338 164557 39681 267355 245609 14569 7177 511833 499332 12501 59223 2767 55265 1191 PLATFORM SERVICES 1487661 1487661 DUES AND SUBSCRIPTIONS 1209657 953940 124869 130848 PAYROLL FEES 320600 140470 92201 87929 RECRUITING 86049 63062 14724 8263 48154 2250 44936 968 29193342 21583621 4625058 2984663 15076287 13549358 13457196 14815599 2743987 3073193 156123 371751 806734 467233 2328495 705717 248189 1622778 4942265 4266501 37430781 38166413 921482 1119204 2567456 1258835 3488938 2378039 X 25424858 24169582 8516985 11618792 33941843 35788374 37430781 38166413 1925132 -78601 0 X 0 1 X 1 0 X 6683081 19525325 28004625 21050737 24799510 100063278 6683081 19525325 28004625 21050737 24799510 100063278 18255796 81807482 1980 4844 398837 773726 785457 1964844 114001 46251 18737 16168 195157 102223279 17461755 0.80030 0.79460 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2328495 705717 1622778 1622778 31012600 -78601 44857 -33744 31046344 72130 72130 31118474 29166069 44857 44857 29121212 72130 72130 29193342 1 SCHOLARSHIPS 42 17000 PART I, LINE 2: 2025 AMAZONNEXT DESIGN CHALLENGE: AMAZONNEXT INVITED CODEPATH STUDENTS, OPEN TO ALL UNDERGRADUATES REGARDLESS OF MAJOR, TO REDESIGN AN EXISTING APP, WEBSITE, OR USER EXPERIENCE TO INCLUDE AND/OR IMPROVE THE EXPERIENCE OF A CUSTOMER GROUP EXCLUDED BY THE CURRENT DESIGN, PROVIDING OPPORTUNITIES TO WORK WITH PROFESSIONAL UX DESIGNERS AT AMAZON AND COMPETE FOR CASH PRIZES. AMAZONNEXT REVIEWED ALL SUBMISSIONS, DETERMINED THE WINNING RECIPIENTS, AND COMMUNICATED RESULTS TO CODEPATH, WHICH DISBURSED $17,000 IN PRIZE ALLOCATIONS AMONG 42 RECIPIENTS, WITH INDIVIDUAL AWARDS RANGING FROM $100 TO $600. ALL PROGRAM ACTIVITIES AND DISBURSEMENTS WERE INTERNALLY MONITORED. X X X X 1 0 0 0 0 0 0 1 0 MICHAEL ELLISON CEO &/PRESIDENT 338972 0 51000 0 0 0 0 0 15734 0 405706 0 0 0 TIMOTHY LEE CHIEF LEARNING OFFICER 329199 0 10864 0 0 0 0 0 21031 0 361094 0 0 0 CHRISTOPHER COLEMAN CHIEF PRODUCT OFFICER 312067 0 4553 0 0 0 0 0 24613 0 341233 0 0 0 EMILY CHONG VICE PRESIDENT OF GROWTH 234583 0 8644 0 0 0 0 0 22829 0 266056 0 0 0 DANA LEDYARD COO/TREASURER (UNTIL 10/24) 248322 0 10861 0 0 0 0 0 5706 0 264889 0 0 0 ZACK PARKER VICE PRESIDENT PRODUCT ENGINEERING 237799 0 9308 0 0 0 0 0 17066 0 264173 0 0 0 KEITHE WILLIAMS SENIOR DIRECTOR OF PROGRAMS AND COMM 169499 0 7140 0 48153 0 0 0 36744 0 261536 0 0 0 BENJAMIN CHUN LEAD PRODUCT MANAGER 217818 0 100 0 0 0 0 0 14643 0 232561 0 0 0 YULIYA SPEKTORSKY ACCOUNT DIRECTOR, ENTERPRISE 174488 0 36973 0 0 0 0 0 600 0 212061 0 0 0 NATHAN ESQUENAZI CHIEF TECHNOLOGY OFFICER 165503 0 8664 0 0 0 0 0 6657 0 180824 0 0 0 PART I, LINE 4A KEITHE WILLIAMS RECEIVED A SEVERANCE PAYMENT OF $48,153. PART I, LINE 7 THE FOLLOWING EMPLOYEES RECEIVED MERIT BASED BONUSES: - MICHAEL ELLISON $51,000 - BRIAN MADIGAN $20,000 - TIMOTHY LEE $10,864 - DANA LEDYARD $10,861 - ZACK PARKER $9,308 - NATHAN ESQUENAZI $8,664 - CHRISTOPHER COLEMAN $4,553 - EMILY CHONG $8,644 - KEITHE WILLIAMS $7,140 - YULIYA SPEKTORSKY $36,973 ADDITIONALLY, BENJAMIN CHUN RECEIVED A REFERRAL BONUS OF $100. CODEPATH LLC TIMOTHY LEE AND NATHAN ESQUENAZI; OFFICERS ARE OWNERS OF CODEPATH LLC 150235 LICENSING SERVICES FEES VALUED AT ARMS LENGTH 0 CODEPATH LLC TIMOTHY LEE AND NATHAN ESQUENAZI; OFFICERS ARE OWNERS OF CODEPATH LLC 1600000 ACQUISITION OF CODEPATH LMS INTELLECTUAL PROPERTY THIS WAS VALUED BY INDEPENDENT PERSONS AT ARMS LENGTH. 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS CODEPATH.ORG AND CODEPATH LLC LICENSING AGREEMENT AND ASSET ACQUISITIONCODEPATH.ORG ("CODEPATH") AND CODEPATH LLC (THE "LLC") ARE INTERESTED PERSONS, AS TWO OFFICERS OF CODEPATH HOLD AN OWNERSHIP INTEREST IN THE LLC.LICENSING AGREEMENT: DURING THE YEAR ENDED DECEMBER 31, 2025, CODEPATH MAINTAINED A LICENSING AGREEMENT WITH THE LLC THROUGH FEBRUARY 2025, WHICH PROVIDED ACCESS TO CURRICULA INCLUDING IOS, ANDROID, WEB SECURITY, AND OTHER COURSES DEVELOPED BY THE LLC. THE LLC ALSO PROVIDED STUDENTS AND ORGANIZERS ACCESS TO ITS PLATFORM TO ADMINISTER COURSES. THE TOTAL VALUE OF THE LICENSING ARRANGEMENT FOR THE YEAR ENDED DECEMBER 31, 2025 WAS $150,235, CONSISTING OF $90,141 IN FEES PAID AND $60,094 RECORDED AS A CONTRIBUTED NONFINANCIAL ASSET REPRESENTING THE DISCOUNTED PORTION OF THE FEE.ASSET ACQUISITION: ON FEBRUARY 6, 2025, CODEPATH EXECUTED AN ASSET PURCHASE AGREEMENT TO ACQUIRE ALL COURSEWARE AND INTELLECTUAL PROPERTY RELATED TO THE LLC'S LEARNING MANAGEMENT SOFTWARE, AS WELL AS RIGHTS TO THE NAME "CODEPATH AND ALL ASSOCIATED MARKETING MATERIALS, FOR A TOTAL PURCHASE PRICE OF $1,600,000. THE TRANSACTION WAS ACCOUNTED FOR AS AN ASSET ACQUISITION UNDER ASC 805-50, RATHER THAN A BUSINESS COMBINATION, AS SPECIFIC ASSETS WERE PURCHASED RATHER THAN THE ENTIRE BUSINESS OR ENTITY, THE LLC'S LIABILITIES WERE NOT TRANSFERRED TO CODEPATH EXCEPT THOSE DIRECTLY ASSOCIATED WITH THE PURCHASED ASSETS, AND CODEPATH DID NOT ABSORB THE LLC'S FULL OPERATIONS, STAFF, OR BUSINESS MODEL. TO ENSURE THE TRANSACTION WAS CONDUCTED AT ARM'S LENGTH, THE PURCHASE PRICE WAS BASED ON A THIRD-PARTY VALUATION USING AN INCOME APPROACH PROJECTING THE PRE-TAX ROYALTY STREAM OVER A FOUR-YEAR PERIOD. X SOFTWARE LICENSE 3 303219 FMV 0 0 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE FORM IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND PROVIDED TO THE CHIEF OPERATING OFFICER. THE CHIEF OPERATING OFFICER DISTRIBUTES A DRAFT COPY TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENTS. ONCE ALL QUESTIONS AND COMMENTS HAVE BEEN ADDRESSED, INCLUDING A REVIEW BY FINANCE, THE CHIEF EXECUTIVE OFFICER WILL SIGN THE FORM AND THE FORM IS ELECTRONICALLY FILED BY THE ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C THE CHIEF EXECUTIVE OFFICER IS RESPONSIBLE FOR OBTAINING AND REVIEWING SIGNED CONFLICT OF INTEREST FORMS ANNUALLY FROM THE BOARD OF DIRECTORS. IF ANY CONFLICTS ARISE, THE BOARD MEMBERS WOULD BE RECUSED FROM CERTAIN DISCUSSIONS, TRANSACTIONS AND VOTING, PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE ANNUAL BUDGET WHICH INCLUDES ANNUAL SALARIES FOR STAFF. SALARIES ARE DETERMINED WITH THE HELP OF AN INDEPENDENT COMPENSATION CONSULTANT. THE BOARD REVIEWS AND APPROVES THE CEO'S SALARY. OTHER OFFICER COMPENSATION IS RECOMMENDED BY THE CEO AND THE BOARD OF DIRECTORS AND IS DETERMINED BY MARKET RESEARCH, COMPARABLE POSITIONS AND THE INDIVIDUAL'S EXPERIENCE. THE SALARY IS FORMALIZED IN A WRITTEN EMPLOYEE AGREEMENT. THE LAST COMPENSATION REVIEW TOOK PLACE IN AUGUST 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND REQUIRED FINANCIAL DISCLOSURES AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OPERATIONS CONTRACTORS: PROGRAM SERVICE EXPENSES 715,162. MANAGEMENT AND GENERAL EXPENSES 469,417. FUNDRAISING EXPENSES 447,664. TOTAL EXPENSES 1,632,243. PROGRAM CONTRACTORS: PROGRAM SERVICE EXPENSES 2,821,302. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,821,302. HR CONTRACTORS: PROGRAM SERVICE EXPENSES 134,029. MANAGEMENT AND GENERAL EXPENSES 87,974. FUNDRAISING EXPENSES 83,897. TOTAL EXPENSES 305,900. MULTIPLIER: PROGRAM SERVICE EXPENSES 258,922. MANAGEMENT AND GENERAL EXPENSES 169,951. FUNDRAISING EXPENSES 162,075. TOTAL EXPENSES 590,948. FUNDRAISING: PROGRAM SERVICE EXPENSES 345,382. MANAGEMENT AND GENERAL EXPENSES 226,702. FUNDRAISING EXPENSES 216,196. TOTAL EXPENSES 788,280.