Flare Education
- Assets
- $243.9k
- Revenue
- $534.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Boston, MA
- Founding
- Data as of
- 12/2022
- EIN
- 87-1145016
Organization Overview
Flare Education is located in Boston, MA. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2022, Flare Education employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flare Education 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, Flare Education generated $534.3k in total revenue. All expenses for the organization totaled $397.8k during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO WORK WITH HIGH SCHOOLS, COMMUNITY ORGANIZATIONS, AND COMPANIES TO BUILD LOCAL PARTNERSHIPS AND PROVIDE UNDER-RESOURCED HIGH SCHOOL STUDENTS WITH PAID, VALUE-FOCUSED SUMMER CAPSTONE PROJECTS. THE ORGANIZATION HELPS STUDENTS DEVELOP FOUNDATIONAL SKILLS, BUILD SOCIAL CAPITAL, AND IMPROVE THEIR FINANCIAL LITERACY SO THAT THE ALUMNI CAN FIND JOBS WITH GROSS ANNUAL INCOME AT OR ABOVE $60,000.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PROFESSIONAL TRAINING SESSIONS FOCUSED ON CAREER EXPOSURE, SKILL-BUILDING, AND SOCIO-EMOTIONAL DEVELOPMENT FOR STUDENTS INVOLVED IN THE PROGRAM.
PROVIDE 1-ON-1 PROFESSIONAL MENTORSHIP FOR STUDENTS INVOLVED IN THE PROGRAM.
HOSTING COMMUNITY EVENTS LIKE FIELD TRIPS, NETWORKING EVENTS, AND MEET-AND-GREETS FOR STUDENTS INVOLVED IN THE PROGRAM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ajit Vakharia President And CEO | OfficerTrustee | 80 | $0 |
Jill Mongeau Gaines Executive Director And Chief Of Staff | OfficerTrustee | 40 | $120,000 |
Manu Daftary Board Treasurer | OfficerTrustee | 2.5 | $0 |
Jayashree Mahajan Board Vice-Treasurer | OfficerTrustee | 2.5 | $0 |
Sindura Ravichandran Board Clerk | OfficerTrustee | 2.5 | $0 |
Travis Keller Board Director | Trustee | 2.5 | $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 | $534,260 |
| Noncash contributions included in lines 1a–1f | $119,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $534,260 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $534,260 |
| 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. | $120,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,042 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,792 |
| Payroll taxes | $5,114 |
| Fees for services: Management | $1,250 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,750 |
| Advertising and promotion | $4,339 |
| Office expenses | $3,928 |
| Information technology | $187 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,829 |
| 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 | $1,285 |
| Insurance | $1,426 |
| All other expenses | $0 |
| Total functional expenses | $397,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,021 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $0 |
| 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 | $1,615 |
| Net Land, buildings, and equipment | $17,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $243,851 |
| Accounts payable and accrued expenses | $13,245 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,245 |
| Net assets without donor restrictions | $230,606 |
| 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 | $243,851 |