Khan Academy Inc
- Assets
- $105.3m
- Revenue
- $53.2m
- Investments
- $0.0
- Employees
- 258
- Location
- Mountain View, CA
- Founding
- 05/2008
- Data as of
- 12/2022
- 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 12/2022, Khan Academy Inc employed 258 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 12/2022, Khan Academy Inc generated $53.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $58.2m during the year ending 12/2022. While expenses have increased by 11.6% per year over the past 8 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
2022
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 THE CALENDAR YEAR 2022, AN AVERAGE OF 11.5 MILLION LEARNERS WERE ACTIVE ON OUR PLATFORM EACH MONTH IN MORE THAN 100 COUNTRIES. APPROXIMATELY 35% OF OUR LEARNERS WERE LOCATED OUTSIDE OF THE UNITED STATES. OUR CONTENT IS TRANSLATED INTO MORE THAN 50 LANGUAGES. 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 2022, IT CONTAINED APPROXIMATELY 716 COURSES, 12,800 VIDEOS, 81,800 PRACTICE PROBLEMS, AND 4,800 ARTICLES. AN AVERAGE OF 11.5 MILLION ACTIVE REGISTERED LEARNERS ACCESSED THE CONTENT EACH MONTH. IN 2022, WE CONTINUED TO DEEPEN AND BROADEN OUR COURSE OFFERINGS IN MATH AND SCIENCE, AND WE FORGED PARTNERSHIPS TO HELP US CREATE MORE WORLD-CLASS CONTENT. 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 IN THE WORLD.
AWARENESS AND ADOPTION: WE WILL CONTINUE DEVELOPING PARTNERSHIPS WITH INSTITUTIONS ACROSS THE WORLD TO INCREASE AWARENESS ABOUT KHAN ACADEMY AND INCREASE OUR IMPACT. EXAMPLE PARTNERSHIPS INCLUDE SCHOOL DISTRICTS IN THE UNITED STATES AND OTHER MARKETS, INCLUDING INDIA, BRAZIL AND PERU; TEST MAKERS AND CREDENTIALING BODIES LIKE THE LAW SCHOOL ADMISSION COUNCIL, THE ASSOCIATION OF MEDICAL COLLEGES AND EDUCATIONAL TESTING SERVICE; CORPORATIONS LIKE GOOGLE; AND FOUNDATIONS LIKE THE BILL AND MELINDA GATES FOUNDATION AND THE LEMANN FOUNDATION. BY THE END OF 2022, WE HAD MORE THAN 147.6 MILLION REGISTERED STUDENTS, TEACHERS AND PARENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Doerr Chairman | OfficerTrustee | 10 | $0 |
Curtis Feeney Director | Trustee | 2 | $0 |
David Siegel Director | Trustee | 2 | $0 |
James Manyika Director | Trustee | 2 | $0 |
Larry Cohen Director | Trustee | 2 | $0 |
Laura Overdeck Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Velocity Global Consulting Services | 12/30/22 | $1,183,542 |
Qbs Learning Content Creation | 12/30/22 | $371,173 |
Target Cw Consulting Services | 12/30/22 | $898,131 |
Partner Hero Inc Community Support Consultants | 12/30/22 | $331,224 |
Tyton Partners Consulting Llc Grant Consulting | 12/30/22 | $322,804 |
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 | $39,984,004 |
| Noncash contributions included in lines 1a–1f | $526,377 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,984,004 |
| Total Program Service Revenue | $12,923,384 |
| Investment income | $1,382,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $565 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,041,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,234,817 |
| 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. | $4,309,027 |
| Compensation of current officers, directors, key employees. | $1,143,856 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,419,632 |
| Pension plan accruals and contributions | $1,258,260 |
| Other employee benefits | $3,317,379 |
| Payroll taxes | $2,181,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,717 |
| Fees for services: Accounting | $102,915 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $119,767 |
| Fees for services: Other | $5,208,379 |
| Advertising and promotion | $631,382 |
| Office expenses | $941,090 |
| Information technology | $5,800,907 |
| Royalties | $0 |
| Occupancy | $1,199,009 |
| Travel | $398,373 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,016 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,586 |
| Insurance | $168,362 |
| All other expenses | $7,699 |
| Total functional expenses | $58,157,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,761,853 |
| Savings and temporary cash investments | $38,713 |
| Pledges and grants receivable | $3,821,038 |
| Accounts receivable, net | $2,550,183 |
| 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 | $1,305,338 |
| Net Land, buildings, and equipment | $25,731 |
| Investments—publicly traded securities | $91,666,476 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,086,392 |
| Total assets | $105,255,724 |
| Accounts payable and accrued expenses | $4,117,418 |
| Grants payable | $0 |
| Deferred revenue | $7,415,279 |
| 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 | $11,532,697 |
| Net assets without donor restrictions | $75,120,880 |
| Net assets with donor restrictions | $18,602,147 |
| 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 | $105,255,724 |
Grants Awarded
Over the last fiscal year, Khan Academy Inc has awarded $433,487 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KHAN LAB SCHOOL PURPOSE: GENERAL OPERATIONS, ACTIVITIES ASSOCIATED WITH CENTER FOR LEARNING INNOVATION | $383,987 |
DONORSCHOOSEORG PURPOSE: SUPPORT SCHOOLS IN DALLAS AND NATIONALLY. | $49,500 |