Nonprofit · EIN 88-2596234
FLYWHEEL FUND FOR CAREER CHOICE
Tax-exempt · PETALUMA, CA 94952
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 (amended) | $1,921,083 | $31,236 | $1,889,847 | $3,871,327 | $514,251 | $3,357,076 |
| December 31, 2023 | 990 | $1,156,156 | $1,075,834 | $80,322 | $395,562 | $0 | $395,562 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,915,869
- Program service revenue
- $0
- Investment income
- $5,214
- Net gain from sales of assets
- -$6,919
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $6,045
- Program services (functional)
- $31,236
Balance sheet and other
- Total assets, start of year
- $395,562
- Total assets, end of year
- $3,871,327
- Total liabilities, end of year
- $514,251
- Net assets, end of year
- $3,357,076
- Gross unrelated business income
- $5,214
- Gross receipts
- $2,921,524
- Employees
- 0
- Volunteers
- 5
- Year formed
- 2022
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ELLIOT SCHRAGE | DIRECTOR, PRESIDENT Trustee or director, Officer | 5 | $0 |
| EUGENE CLARK HERRERA | DIRECTOR Trustee or director | 1 | $0 |
| JUSTIN OSOFSKY | SECRETARY Trustee or director | 1 | $0 |
| DAVID GOLDEN | DIRECTOR Trustee or director | 1 | $0 |
| SALLY COLE | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ELLIOT SCHRAGE | DIRECTOR, PRESIDENT, SECRETARY, CHAIRMAN Trustee or director, Officer | 5 | $0 |
| EUGENE CLARK HERRERA | DIRECTOR Trustee or director | 1 | $0 |
| JUSTIN OSOFSKY | DIRECTOR Trustee or director | 1 | $0 |
| DAVID GOLDEN | DIRECTOR Trustee or director | 1 | $0 |
| SALLY COLD | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1495 SAN ANTONIO RD, PETALUMA, CA 94952-9549
- In care of
- % ELLIOT SCHRAGE
- Principal officer (990 for 2024)
- ELLIOT SCHRAGE
- Signed the 990
- ELLIOT SCHRAGE, CHAIRMAN
- Phone
- (415) 730-1032
- Website
- FLYWHEELFUND.ORG
- Return prepared by
- FRANK RIMERMAN CO LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 88-2596234 or by the name FLYWHEEL FUND FOR CAREER CHOICE.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
THE PURPOSES FOR WHICH THE COMPANY IS ORGANIZED IS EXCLUSIVELY FOR EDUCATIONAL AND CHARITABLE PURPOSES, WITH THE PRIMARY GOAL OF PROVIDING GRADUATE STUDENTS WITH GREATER FREEDOM OVER THEIR CAREER PATHS BY REMOVING CONCERNS ABOUT THE HIGH COST OF LOAN REPAYMENTS. BY REMOVING FINANCES AS A PREDOMINANT CAREER DECISION MAKING FACTOR, THE OBJECTIVE IS TO ENCOURAGE GRADUATES TO CONSIDER POSITIONS IMPORTANT TO OUR SOCIETY, SUCH AS STATE PROSECUTORS, PUBLIC DEFENDERS, LEGAL AID PROVIDERS, AND OTHER LESS LUCRATIVE PRACTICE AREAS.
Program accomplishments
- OFFER GRADUATE STUDENTS FLEXIBLE AND AFFORDABLE WAYS TO PAY FOR HIGHER EDUCATION VIA INCOME SHARED LOANSExpenses $31,236
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-2596234
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $3,871,327
- Income (IRS master file)
- $1,921,083
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,921,083 | $31,236 | $3,871,327 | XML |
| 990 | December 2023 | $1,156,156 | $1,075,834 | $395,562 | XML |
| 990 | December 2022 | $400,000 | $84,760 | $315,240 | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-2596234).
Questions about FLYWHEEL FUND FOR CAREER CHOICE
- What is the EIN of FLYWHEEL FUND FOR CAREER CHOICE?
- The employer identification number (EIN) of FLYWHEEL FUND FOR CAREER CHOICE is 88-2596234.
- Is FLYWHEEL FUND FOR CAREER CHOICE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to FLYWHEEL FUND FOR CAREER CHOICE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FLYWHEEL FUND FOR CAREER CHOICE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FLYWHEEL FUND FOR CAREER CHOICE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FLYWHEEL FUND FOR CAREER CHOICE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FLYWHEEL FUND FOR CAREER CHOICE?
- The 990 for the year ended December 31, 2024 names ELLIOT SCHRAGE.
- Who are the officers and directors of FLYWHEEL FUND FOR CAREER CHOICE?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does FLYWHEEL FUND FOR CAREER CHOICE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,921,083, expenses of $31,236 and total assets of $3,871,327 at year end.
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