THE FOUNDATION
2024 · Form 990 · revenue $409.2M · expenses $768K · assets $779.8M
- Also known as
- THE X FOUNDATION
- EIN
- 92-0742101
- Address
- 700 MILAM ST STE 1300, HOUSTON, TX 77002-2736
- Website
- WWW.ADASTRASCHOOL.ORG
- NTEE code
- B20
- Subsection
- 501(c)(3)
- Ruling year
- 2023
- Cross-check
- ProPublica Nonprofit Explorer
Mission
THE FOUNDATION'S MISSION IS TO OPERATE AN INDEPENDENT PRIMARY AND SECONDARY SCHOOL AND, ULTIMATELY, CREATE A UNIVERSITY DEDICATED TO EDUCATION AT THE HIGHEST LEVEL.
Each tax year counts once: when a return was amended, only the latest return for that period is used below (superseded returns stay listed, greyed, under Finances).
People paid by the organization
No one listed on these returns was paid.
Unpaid officers and directors · 4 people
| Name | Latest title | Years | Organizations |
|---|---|---|---|
| Jared Birchall | PRESIDENT | 2022-2024 | 1 |
| Ronald Gong | SECRETARY | 2022-2024 | 1 |
| Teresa Holland | TREASURER | 2022-2024 | 1 |
| Steven Chidester | TRUSTEE | 2022-2024 | 1 |
People by year
2024 · 4 people listed · none paid · 3 employees · 0 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| JARED BIRCHALL | PRESIDENT | 1 | $0 | $0 | $0 | $0 | 1 |
| RONALD GONG | SECRETARY | 1 | $0 | $0 | $0 | $0 | 1 |
| TERESA HOLLAND | TREASURER | 1 | $0 | $0 | $0 | $0 | 1 |
| STEVEN CHIDESTER | TRUSTEE | 1 | $0 | $0 | $0 | $0 | 1 |
2023 · 4 people listed · none paid · 0 employees · 0 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| JARED BIRCHALL | PRESIDENT | 1 | $0 | $0 | $0 | $0 | 1 |
| RONALD GONG | SECRETARY | 1 | $0 | $0 | $0 | $0 | 1 |
| TERESA HOLLAND | TREASURER | 1 | $0 | $0 | $0 | $0 | 1 |
| STEVEN CHIDESTER | TRUSTEE | 1 | $0 | $0 | $0 | $0 | 1 |
2022 · 4 people listed · none paid · 0 employees · 0 volunteers
| Name | Title | Hrs/wk | From org | From related | Other | Total | Orgs |
|---|---|---|---|---|---|---|---|
| JARED BIRCHALL | PRESIDENT | 1 | $0 | $0 | $0 | $0 | 1 |
| RONALD GONG | SECRETARY | 1 | $0 | $0 | $0 | $0 | 1 |
| TERESA HOLLAND | TREASURER | 1 | $0 | $0 | $0 | $0 | 1 |
| STEVEN CHIDESTER | TRUSTEE | 1 | $0 | $0 | $0 | $0 | 1 |
Highest-paid independent contractors
2024 · 4 contractors · $662K
| Name | Location | Service | Paid |
|---|---|---|---|
| JA DEVELOPMENT AND CONSTR LLC | MISSION, TX | CONSTRUCTION | $292,217 |
| MCGARY CONSTRUCTION LLC | SMITHVILLE, TX | CONSTRUCTION | $157,297 |
| XPLOR EDUCATION INC | BREA, CA | EDUCATION CONSULTING | $111,429 |
| WITHERS BERGMAN LLP | NEW HAVEN, CT | LEGAL SERVICES | $100,583 |
Who gave
Contributor names are not public for this form type.
Public charities filing Form 990 or 990-EZ report large donors on Schedule B, but the IRS withholds their names and addresses from public copies. Private foundations (990-PF) are different: their contributors are public.
Grants received from DAF sponsors and foundations
3 grants to this organization reported by other filers, $44,809,157 in all. Schedule I grants are matched by the EIN the grantor reported; 990-PF grants list no EIN, so those are matched by exact name and state. Grantor type: private foundation (990-PF), DAF sponsor (answered yes to maintaining donor-advised funds that year), or other public charity. Unusual is not the same as improper. Many of these patterns have ordinary explanations. Check the filing.
| Year | Grantor | Grantor type | Amount | Purpose | Matched by | Filing |
|---|---|---|---|---|---|---|
| 2023 | MUSK FOUNDATION | Private foundation | $34,808,757 | TO SUPPORT SCHOOL OPERATIONS AND PROGRAMS | name and state | view |
| 2022 | MUSK FOUNDATION | Private foundation | $10,000,000 | TO SUPPORT SCHOOL OPERATIONS AND PROGRAMS | name and state | view |
| 2014 | ACC FOUNDATION | Private foundation | $400 | CHARITABLE DONATION | name and state | view |
Finances
Newest first. Each filing: its name on one row, its figures on the row beneath. Greyed filings are superseded by a later return for the same period and are left out everywhere else on this page.
| Revenue | Expenses | Assets | Net assets | Contributions | Program revenue | Officer pay | Employees | Volunteers |
|---|---|---|---|---|---|---|---|---|
| 2024 · Form 990 | ||||||||
| $409,236,759 | $767,579 | $779,814,664 | $779,803,425 | $407,320,337 | $85,100 | $0 | 3 | 0 |
| 2023 · Form 990 | ||||||||
| $138,258,450 | $85,557 | $269,949,761 | $269,945,772 | $137,075,943 | $0 | $0 | 0 | 0 |
| 2022 · Form 990 | ||||||||
| $100,110,359 | $25,385 | $202,982,507 | $202,937,199 | $99,941,380 | $0 | $0 | 0 | 0 |
Where the money went
Every expense line on each return, biggest first: Form 990 Part IX (with its program, management and fundraising columns), 990-EZ Part I, or 990-PF Part I. Event marks lines the organization itself describes as events. “Events” in each summary adds those lines, conferences and meetings, and the direct costs of fundraising events. Unusual is not the same as improper. Many of these patterns have ordinary explanations. Check the filing.
2024 · Form 990 · $767,579 spent · pay $184,264 · grants $0 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Depreciation and depletion | $335,181 | $331,032 | $4,149 | - | 43.7% | |
| Other salaries and wages | $108,794 | $108,794 | - | - | 14.2% | |
| Fees: legal | $83,382 | $9,415 | $73,967 | - | 10.9% | |
| Other employee benefits | $66,508 | $66,508 | - | - | 8.7% | |
| Other (as described) | SECURITY EXPENSE | $66,184 | $66,184 | - | - | 8.6% |
| Fees: accounting | $36,970 | - | $36,970 | - | 4.8% | |
| All other expenses | $16,403 | $13,209 | $3,194 | - | 2.1% | |
| Insurance | $14,024 | $14,024 | - | - | 1.8% | |
| Other (as described) | TEACHING SUPPLIES | $13,411 | $13,411 | - | - | 1.7% |
| Payroll taxes | $8,962 | $8,962 | - | - | 1.2% | |
| Other (as described) | JANITORIAL SERVICES | $8,271 | $8,271 | - | - | 1.1% |
| Other (as described) | REPAIRS & MAINTENANCE | $6,678 | $6,678 | - | - | 0.9% |
| Office expenses | $2,285 | $2,285 | - | - | 0.3% | |
| Fees: other services | $526 | - | $526 | - | 0.1% | |
| Total | $767,579 | 100% |
2023 · Form 990 · $85,557 spent · pay $0 · grants $0 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Fees: legal | $51,061 | - | $51,061 | - | 59.7% | |
| Other (as described) | PROPERTY TAXES | $22,729 | $22,729 | - | - | 26.6% |
| Insurance | $3,232 | $3,232 | - | - | 3.8% | |
| Fees: accounting | $2,855 | - | $2,855 | - | 3.3% | |
| Fees: other services | $1,698 | - | $1,698 | - | 2.0% | |
| Other (as described) | BANK FEES | $1,431 | - | $1,431 | - | 1.7% |
| Other (as described) | FILING FEES | $1,077 | - | $1,077 | - | 1.3% |
| Other (as described) | UTILITIES | $1,054 | $1,054 | - | - | 1.2% |
| All other expenses | $420 | $415 | $5 | - | 0.5% | |
| Total | $85,557 | 100% |
2022 · Form 990 · $25,385 spent · pay $0 · grants $0 · events $0
| Line | As described | Total | Program | Management | Fundraising | Share |
|---|---|---|---|---|---|---|
| Fees: legal | $23,274 | - | $23,274 | - | 91.7% | |
| Insurance | $1,072 | $1,072 | - | - | 4.2% | |
| Other (as described) | BANK FEES | $517 | $517 | - | - | 2.0% |
| Other (as described) | FILING FEES | $423 | - | $423 | - | 1.7% |
| Fees: other services | $99 | - | $99 | - | 0.4% | |
| Total | $25,385 | 100% |