Khan Academy Inc
- Assets
- $115.0m
- Revenue
- $59.3m
- Investments
- $0.0
- Employees
- 229
- Location
- Mountain View, CA
- Founding
- 05/2008
- Data as of
- 12/2021
- EIN
- 26-1544963
Organization Overview
Khan Academy Inc is located in Mountain View, CA. The organization was established in 2008. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Khan Academy Inc employed 229 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Khan Academy Inc 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 12/2021, Khan Academy Inc generated $59.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $53.9m during the year ending 12/2021. While expenses have increased by 12.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A FREE WORLD-CLASS EDUCATION FOR ANYONE, ANYWHERE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLATFORM DEVELOPMENT: OUR PLATFORM DEVELOPMENT TEAM FOCUSES ON BUILDING THE WEB AND MOBILE SOFTWARE THAT ALLOWS US TO OFFER STUDENTS A WORLD-CLASS PERSONALIZED LEARNING EXPERIENCE ACROSS MULTIPLE SUBJECT AREAS. BY STRENGTHENING THE PLATFORM, WE ARE ABLE TO PROVIDE STUDENTS WITH A LEARNING EXPERIENCE THAT RIVALS THAT OF A PERSONALIZED, ALWAYS-AVAILABLE TUTOR. IN 2021, AN AVERAGE OF 13.7 MILLION LEARNERS WERE ACTIVE ON KA EACH MONTH IN 100 COUNTRIES AND TRANSLATED INTO MORE THAN 50 LANGUAGES. APPROXIMATELY 40% OF OUR LEARNERS WERE LOCATED OUTSIDE THE U.S. TO SUPPORT LEARNING DURING COVID-19-RELATED SCHOOL CLOSURES, KHAN ACADEMY FOCUSED ON CREATING RESOURCES TO KEEP STUDENTS LEARNING, INCLUDING DAILY SCHEDULES, MICROSITES FOR PARENTS, WEBINARS FOR TEACHERS, AND SAL'S DAILY HOMEROOM. PRODUCT LAUNCHES IN 2021 INCLUDED KHAN KIDS VERSION 4.0 AND SCHOOL DISTRICT DASHBOARDS. WE CONTINUE TO MAKE IMPROVEMENTS TO OUR MASTERY LEARNING FEATURES AND EXPANDED CONTENT LIBRARY WITH THE ADDITION OF MORE SUBJECTS, UNIT TESTS, AND QUIZZES.
CONTENT CREATION AND CURATION: THE KHAN ACADEMY PLATFORM INCLUDES AN EXTENSIVE AND GROWING LIBRARY OF EDUCATIONAL RESOURCES. AT THE END OF 2021, IT CONTAINED APPROXIMATELY 600 COURSES, 14,300 VIDEOS, 93,200 PRACTICE PROBLEMS, AND 5,900 ARTICLES. 13.7 MILLION ACTIVE LEARNERS ACCESSED THIS CONTENT.IN 2021, WE CONTINUED TO DEEPEN AND BROADEN OUR COURSE OFFERINGS IN MATH AND SCIENCE, AND FORGED PARTNERSHIPS TO HELP US CREATE MORE WORLD-CLASS CONTENT (E.G. HOWARD UNIVERSITY, ADOBE, GOOGLE). KHAN ACADEMY'S GOAL IS TO BE THE WORLD'S BEST LEARNING RESOURCE, PROVIDING FREE, RIGOROUS AND, ENGAGING STANDARDS-ALIGNED INSTRUCTIONAL AND PRACTICE CONTENT TO TEACHERS AND LEARNERS IN THE K-12 CLASSROOM ESPECIALLY, BUT ALSO TO ANY INDEPENDENT LEARNER, ANYWHERE.
AWARENESS AND ADOPTION: WE WILL CONTINUE DEVELOPING PARTNERSHIPS WITH INSTITUTIONS AROUND THE WORLD TO INCREASE AWARENESS ABOUT KHAN ACADEMY AND GROW OUR IMPACT. EXAMPLE PARTNERSHIPS INCLUDE SCHOOL DISTRICTS IN THE US AND IN OTHER MARKETS, INCLUDING INDIA, BRAZIL AND PERU; TEST MAKERS AND CREDENTIALING BODIES LIKE THE LAW SCHOOL ADMISSION COUNCIL, ASSOCIATION OF AMERICAN MEDICAL COLLEGES AND ETS; CORPORATIONS LIKE GOOGLE; AND FOUNDATIONS LIKE THE BILL AND MELINDA GATES FOUNDATION AND THE LEMANN FOUNDATION. BY THE END OF 2021, WE HAD MORE THAN 133 MILLION REGISTERED STUDENTS, TEACHERS, AND PARENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Salman Khan Chief Executive Officer | OfficerTrustee | 40 | $855,189 |
Ginny Lee COO (thru 6/2/2021) | Officer | 40 | $429,611 |
Marta Kosarchyn VP Of Engineering | Officer | 40 | $409,780 |
Vicki Zubovic VP Of Philanthropy | Officer | 40 | $380,986 |
Catherine Wang VP Marketing & Strat. Partnership | Officer | 40 | $368,001 |
Michael Chanover VP Design | 40 | $363,294 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Partner Hero Inc Community Support Consultants | 12/30/21 | $411,613 |
Target Cw Consulting Services | 12/30/21 | $1,074,651 |
Coastal Cloud Software Implementation Services | 12/30/21 | $336,521 |
Velocity Global Consulting Services | 12/30/21 | $989,044 |
Qbs Learning Content Creation | 12/30/21 | $509,675 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,931,356 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,761,790 |
| Noncash contributions included in lines 1a–1f | $4,698,230 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,693,146 |
| Total Program Service Revenue | $9,355,361 |
| Investment income | $1,221,511 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,940 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,263,743 |
| 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. | $3,750,144 |
| Compensation of current officers, directors, key employees. | $816,942 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,332,523 |
| Pension plan accruals and contributions | $1,110,820 |
| Other employee benefits | $3,173,135 |
| Payroll taxes | $2,012,281 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,503 |
| Fees for services: Accounting | $91,986 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,048,686 |
| Advertising and promotion | $771,777 |
| Office expenses | $790,509 |
| Information technology | $6,279,822 |
| Royalties | $0 |
| Occupancy | $1,168,820 |
| Travel | $22,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,669 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,218 |
| Insurance | $145,645 |
| All other expenses | $192 |
| Total functional expenses | $53,879,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,732,625 |
| Savings and temporary cash investments | $10,221,379 |
| Pledges and grants receivable | $3,730,779 |
| Accounts receivable, net | $3,380,050 |
| 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 | $529,965 |
| Net Land, buildings, and equipment | $50,317 |
| Investments—publicly traded securities | $94,203,070 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $187,343 |
| Total assets | $115,035,528 |
| Accounts payable and accrued expenses | $6,396,788 |
| Grants payable | $0 |
| Deferred revenue | $2,875,366 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,272,154 |
| Net assets without donor restrictions | $84,704,897 |
| Net assets with donor restrictions | $21,058,477 |
| 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 | $115,035,528 |
Grants Awarded
Over the last fiscal year, Khan Academy Inc has awarded $433,487 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Mountain View, CA PURPOSE: GENERAL OPERATIONS, ACTIVITIES ASSOCIATED WITH CENTER FOR LEARNING INNOVATION | $383,987 |
New York, NY PURPOSE: SUPPORT SCHOOLS IN DALLAS AND NATIONALLY. | $49,500 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Khan Academy Inc has recieved totaling $40,100.
| Awarding Organization | Amount |
|---|---|
Big D Foundation Albany, CA PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Starting Line Foundation Boulder, CO PURPOSE: GENERAL PURPOSES | $10,000 |
Cole Family Foundation Salisbury, MD PURPOSE: SCHOLARSHIPS AND OPERATING COSTS | $5,000 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $100 |
Endowment Analysis
| Beg. Balance | $17,572,279 |
| Earnings | $1,286,902 |
| Admin Expense | $61,771 |
| Net Contributions | $3,933,117 |
| Ending Balance | $22,730,527 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Foundation San Francisco, CA | $136,274,072 | $130,699,963 |
The Chicago School - California Inc Los Angeles, CA | $127,785,110 | $98,235,232 |
Social Good Fund Richmond, CA | $64,387,201 | $85,650,973 |
Avid Center San Diego, CA | $134,506,037 | $61,146,519 |
Khan Academy Inc Mountain View, CA | $115,035,528 | $59,263,743 |
California School Employees Association San Jose, CA | $160,720,307 | $80,296,309 |
Prager University Foundation Sherman Oaks, CA | $86,724,321 | $65,499,557 |
The Oakland Public Education Fund Oakland, CA | $29,835,630 | $28,210,005 |
Unicare Community Health Center Inc Ontario, CA | $12,734,998 | $31,780,162 |
Spectrum Healthcare Group Inc Cottonwood, AZ | $17,862,058 | $29,292,227 |
University Studies Abroad Consortium Reno, NV | $41,233,258 | $28,044,577 |
Califa Group San Francisco, CA | $13,975,341 | $20,958,873 |