Edboost Education Corporation
- Assets
- $127.2k
- Revenue
- $253.4k
- Investments
- $0.0
- Employees
- 17
- Location
- Los Angeles, CA
- Founding
- 11/2002
- Data as of
- 12/2023
- EIN
- 11-3649104
Organization Overview
Edboost Education Corporation, operating under the name EdBoost, is located in Los Angeles, CA. The organization was established in 2002. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, EdBoost employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. EdBoost is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, EdBoost generated $253.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $299.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDBOOST'S MISSION IS TO REDUCE EDUCATIONAL INEQUALITY BY PROVIDING HIGH-QUALITY EDUCATIONAL SERVICES -- INCLUDING TUTORING TEST PREP HOMEWORK ASSISTANCE ENRICHMENT AND COLLEGE COUNSELING -- ALONG WITH NEED BASED SCHOLARSHIPS INTENDED TO MAKE EDBOOST SERVICES ACCESSIBLE TO ALL FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE-ON-ONE TUTORING. PROVIDE INDIVIDUAL ACADEMIC INSTRUCTION TO K-12 STUDENTS. SCHOLARSHIPS AVAILABLE FOR STUDENTS WITH FINANCIAL NEED.
HASPA. PROVIDE AFTERSCHOOL HOMEWORK ASSISTANCE TO K-8 STUDENTS WEEKDAYS DURING THE SCHOOL YEAR. SCHOLARSHIPS AVAILABLE FOR STUDENTS WITH FINANCIAL NEED.
ASAP. PROVIDE CURRICULUM INTERVENTIONS TO LOCAL SCHOOLS COMMUNITY CENTERS AND TO PARENTS SEEKING ACADEMIC HELP FOR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffani Chin Executive Director Secretary | Officer | 50 | $60,000 |
Claudine Phillips President | Officer | 1 | $0 |
Adam Miller Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,035 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,035 |
| Total Program Service Revenue | $249,397 |
| Investment income | $212 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$237 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $253,407 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,934 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,515 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,918 |
| Payroll taxes | $16,582 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $303 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $6,885 |
| Royalties | $0 |
| Occupancy | $64,269 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,985 |
| All other expenses | $726 |
| Total functional expenses | $299,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,925 |
| Savings and temporary cash investments | $79,237 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,628 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,394 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $127,184 |
| Accounts payable and accrued expenses | $41,307 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $60,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $27,889 |
| Other liabilities | $0 |
| Total liabilities | $129,196 |
| Net assets without donor restrictions | -$2,012 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $127,184 |
Grants Awarded
Over the last fiscal year, Edboost Education Corporation has awarded $145,352 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF CALIFORNIA LOS ANGELE PURPOSE: Payments to UCLA for evaluation services as part of federal research grant. | $131,084 |
UNIVERSITY OF CALIFORNIA LOS ANGELE PURPOSE: UCLA to reimburse for workstudy employees | $14,268 |