2026-05-29T09:05:10+00:00 2025-08-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2024-09-01 420841485 IntermediaryEd INTE 8003033070 PO Box 28 Mount Vernon IA 52314 CURT YEDLIK CFO 3197847179 2026-05-29 true true Jennifer Burke P01342224 3128997000 2026-05-29 2024 2025-03-06 01:10:19Z Rachel Korberg PO Box 28 Mount Vernon IA 52314 592982436 false X WWW.INTERMEDIARYED.ORG X 1960 IA (See schedule o) 9 7 827 0 0 0 1434386 5000 194072939 267645 156374289 10975488 612316 212813 352493930 11460946 225976 0 0 65819230 2441945 0 0 97111163 2342371 163156369 4784316 189337561 6676630 420492194 444168082 3743400 1061785 416748794 443106297 X (see schedule o) false true 657725 0 468654 PROGRAM SERVICES DURING THE FISCAL YEAR ENDED AUGUST 31, 2025 CONSISTED ENTIRELY OF A LEGACY ASSESSMENT PROGRAM AND RELATED PHILANTHROPIC ACTIVITIES. ALL PROGRAMS AND SERVICES WERE SOLD ON 5/1/24 AS PART OF AN ASSET PURCHASE AGREEMENT; HOWEVER, INTERMEDIARYED RETAINED A SMALL NUMBER OF CONTRACTS THAT COULD NOT BE ASSIGNED TO THE PURCHASER. INTERMEDIARYED PROVIDES CONTRACT AND PROGRAM OVERSIGHT, WHILE SUB-CONTRACTING PROGRAM DELIVERY BACK TO THE PURCHASER. SINCE THE SALE, A NEW STRATEGY AND OPERATIONAL PROCESSES ARE BEING DEVELOPED TO ALIGN WITH THE NEW MISSION. WHILE DETAILED PROGRAMS ARE NOT YET ESTABLISHED, THEY WILL BE FOCUSED ON HELPING INDIVIDUALS PREPARE FOR AND ATTAIN EMPLOYMENT, SUCH AS THROUGH POST-SECONDARY EDUCATION AND TRAINING PROGRAMS. 657725 true true false false false false false false false false false true true false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false true 814 0 true 827 true false false false false false false false false false false false false X 9 7 false false true false false false false true true false false false true true true true true true true true false false CA IL MA MN NH NY X CURT D YEDLIK 8003033070 PO box 28 Mount vernon IA 52314 Dan Domenech Chair 5.0 X X 93725 0 0 Deborah Delisle Vice Chair 5.0 X X 65100 0 0 Anthony Miller Director 5.0 X 71800 0 0 Eduardo Padrn Director 4.0 X 59800 0 0 Jamie Merisotis Director 3.0 X 54875 0 0 Karen Cator Director 4.0 X 75200 0 0 Ricardo Torres Director 3.0 X 58775 0 0 Richard Rhodes Director 3.0 X 58925 0 0 Shirley Collado Director 3.0 X 51575 0 0 Curt Yedlik CFO & Treasurer 40.0 X 352884 0 31096 Emily Kasik Senior Counsel & Corporate Secretary 40.0 X 183805 0 28484 Ranjit Sidhu Executive Director 40.0 X 520691 0 31524 Bradley Spillman Senior Manager FM 40.0 X 110809 0 30408 Sarah Dickson Controller 40.0 X 140494 0 9160 Adrienne Dieball Former VP - Content Services & Solutions 0.0 X 96489 0 14265 Andrew Taylor Former VP - Product 0.0 X 100272 0 10708 Chandrashekar Jois Former Chief Information Officer 0.0 X 281296 0 13260 Charles Astorino Former Chief Sales Officer 0.0 X 146062 0 15643 Dianne Henderson Former VP - Measurement Innovation 0.0 X 235574 0 9963 Don Wingert Former VP - IT Infrastructure & Services 0.0 X 95291 0 10527 Janet Godwin Former CEO 0.0 X 213632 0 18255 Jason Happel Former Corporate Secretary 0.0 X 118938 0 12708 Julius Muis Former Director 0.0 X 57150 0 0 Shane King Former Chief Operating Officer 0.0 X 133241 0 7071 3376403 0 243072 12 true true false NCS PEARSON 13036 Collection Center Drive Chicago IL 60693 data processing 5507200 INFOSYS LIMITED Plot 44 97A Electronics City Hosur Road Bengaluru Karnataka IN 560100 IT support services 4003023 ALVAREZ AND MARSAL PUBLIC SECTOR SERVICES LLC 600 Madison Avenue 8th Floor New York NY 10022 business consulting 3023691 AMAZON WEB SERVICES LLC PO Box 84023 Seattle WA 98124 data processing / storage 1954010 MORRISON AND FOERSTER LLP PO Box 742335 Los Angeles CA 90074 legal services 1299575 57 5000 5000 Educational Assessment 611710 267645 267645 0 0 0 0 267645 12698896 12698896 749825 738021 11804 0 11804 11804 561014080 18045981 562698234 18085235 -1684154 -39254 -1723408 -1723408 Director Fees 900099 50000 50000 Temporary Service Agreement Revenue 900099 41850 41850 Tax Refunds 900099 85328 85328 23831 23831 0 0 201009 11460946 468654 0 10987292 X 1636975 1636975 461959 461959 81969 81969 175611 175611 85431 85431 433109 433109 248266 248266 231114 231114 698156 254263 443893 0 4373 4373 21927 21927 202552 202552 79556 79556 Grant Agreement Expenses 403462 403462 Taxes & Licenses 13241 13241 Membership Fees 6615 6615 0 0 0 0 4784316 657725 4126591 0 0 0 252690234 91362100 329650 0 1104591 339509 0 0 0 248773 36868 0 0 18085000 0 108225770 232363664 0 82357290 27900605 27605648 11907571 10103003 420492194 444168082 2055716 1052761 97103 9024 0 1590581 0 3743400 1061785 X 415821368 442950800 927426 155497 416748794 443106297 420492194 444168082 6676630 19680873 0 X false true true false X 844745 70000 742900 1434386 5000 3097031 237692081 238503304 233991036 193895936 267645 904350002 0 0 0 238536826 238573304 234733936 195330322 272645 907447033 1775235 5122930 3732080 1672 0 10631917 4927816 11540401 11725807 0 0 28194024 6703051 16663331 15457887 1672 0 38825941 868621092 2042622 1772549 3796697 9607152 13448721 30667741 0 2042622 1772549 3796697 9607152 13448721 30667741 33154 33154 0 0 0 0 201009 201009 240579448 240345853 238563787 204937474 13922375 938348937 0.92569 0.8855 0.03 0.0209 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 201009.0, COLUMN F - 201009.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Closely-held equity interests Financial derivatives non-marketable debt securities 9500000 F core bond investment trust 53767825 F real estate investment trust 3234702 F equity hedge funds 15854763 F 82357290 Private Equity Investments 7227252 C Investments in Gateway Impact Corp and Gateway Encoura Corp 20378396 C 27605648 Federal Income Taxes Post retirement benefit plan obligations 0 X 31919094 19680873 777275 20458148 11460946 0 0 11460946 5561591 777275 777275 4784316 0 0 4784316 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote IntermediaryEd is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and may be subject to federal and state income taxes on any net income from unrelated business activities. IntermediaryEd files Form 990 (Return of Organization Exempt from Income Tax) annually, and unrelated business income (UBI) is reported on Form 990-T, as appropriate. IntermediaryEd had certain revenue from programs and services that, by virtue of a 1980 agreement with the Internal Revenue Service (IRS), is deemed to be unrelated to its tax-exempt purpose and, therefore, may be subject to federal and state income tax. ACT Education Assessment Services, Inc. was dissolved during fiscal year 2024 and has filed its final return. The entities consolidated into ACT International B.V. were not directly subject to U.S. income tax and such income and loss of such foreign entities were not included in the U.S. taxable income of the Organization. The net tax expense, which is presented as federal and state income tax expense within the statement of activities from discontinued operations presented in Note 2, was $0 and $175,083 for the years ended August 31, 2025 and 2024, respectively. Management has evaluated their material tax positions, which include such matters as the tax-exempt status and various positions relative to potential sources of UBI. As of August 31, 2025 and 2024, there were no uncertain tax benefits identified and recorded as a liability and any amounts owed related to UBI are immaterial to the consolidated financial statements as a whole. Forms 990 and 990-T filed by the Organization are subject to examination by the IRS up to three years from the extended due date of each return. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Rental expenses - 738021 Loss of sale of fixed assets - 39254 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rental expenses - 738021 Loss of sale of fixed assets - 39254 X true true X X X X true true false false false false false false false Janet Godwin Former CEO 211571 0 0 0 2061 0 12773 0 5482 0 231887 0 0 0 Julius Muis Former Director 57150 0 0 0 0 0 0 0 0 0 57150 0 0 0 Jason Happel Former Corporate Secretary 78658 0 40000 0 280 0 4843 0 7865 0 131646 0 0 0 Ranjit Sidhu Executive Director 454524 0 32000 0 34167 0 27256 0 4268 0 552215 0 0 0 Curt Yedlik CFO & Treasurer 318922 0 32000 0 1962 0 17312 0 13784 0 383980 0 0 0 Emily Kasik Senior Counsel & Corporate Secretary 154923 0 27000 0 1882 0 9300 0 19184 0 212289 0 0 0 Dianne Henderson Former VP - Measurement Innovation 116198 0 0 0 119376 0 7005 0 2958 0 245537 0 0 0 Shane King Former Chief Operating Officer 112104 0 20000 0 1137 0 6726 0 345 0 140312 0 0 0 Charles Astorino Former Chief Sales Officer 125187 0 20000 0 875 0 7635 0 8008 0 161705 0 0 0 Adrienne Dieball Former VP - Content Services & Solutions 95942 0 0 0 547 0 5981 0 8284 0 110754 0 0 0 Chandrashekar Jois Former Chief Information Officer 125530 0 0 0 155766 0 7598 0 5662 0 294556 0 0 0 Andrew Taylor Former VP - Product 84347 0 15000 0 925 0 5129 0 5579 0 110980 0 0 0 Don Wingert Former VP - IT Infrastructure & Services 94340 0 0 0 951 0 5734 0 4793 0 105818 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel THE ORGANIZATION'S TRAVEL POLICY allows directors to travel first class but GENERALLY PROHIBITS FIRST CLASS TRAVEL FOR TEAM MEMBERS AT THE ORGANIZATION'S EXPENSE. THE POLICY DOES ALLOW LIMITED EXCEPTIONS FOR FIRST CLASS TRAVEL AT THE ORGANIZATION'S EXPENSE UNDER CIRCUMSTANCES REQUIRING EXTENDED, UNINTERRUPTED FLIGHTS. IN ADDITION, TEAM MEMBERS ARE ELIGIBLE TO FLY FIRST CLASS IF THERE IS NO ADDITIONAL EXPENSE TO THE ORGANIZATION (I.E., USE OF TRAVEL POINTS). NO AMOUNT WAS TREATED AS TAXABLE COMPENSATION TO THE LISTED PERSONS. Schedule J, Part I, Line 4a Severance or change-of-control payment DURING CALENDAR YEAR 2024, Dianne Henderson and Chandrashekar Jois were PAID SEVERANCE IN THE AMOUNT OF $105,143 and $115,409, respectively. THE SEVERANCE PAYMENTs are INCLUDED IN (B)(III) ON SCHEDULE J, PART II. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The organization's supplemental nonqualified retirement plan was declared terminated on 12/1/24 as the plan had no participants for several years. Accordingly, there were no supplemental nonqualified retirement plan deferrals or payments during the 2024 calendar year. Form 990, Part I, Line 1 brief mission AS OF 8/31/25, INTERMEDIARYED'S MISSION, WHICH COULD BE FURTHER REFINED AS A NEW POST-SALE STRATEGY IS DEVELOPED, IS FOCUSED ON BRIDGING THE GAPS IN THE EDUCATION AND WORKFORCE ECOSYSTEM THAT WILL LEAD TO GREATER LEARNER EMPOWERMENT AND SYSTEMIC IMPROVEMENTS. Form 990, Part III, Line 1 organization's mission IntermediaryEd bridges the gaps in the education and workforce ecosystem that will lead to greater learner empowerment and systemic improvements. Form 990, Part III, Line 3 Significant changes in program services ALL PROGRAMS AND SERVICES WERE SOLD ON 5/1/24 AS PART OF AN ASSET PURCHASE AGREEMENT. A FEW CONTRACTS COULD NOT BE IMMEDIATELY ASSIGNED TO THE NEW FOR-PROFIT PUBLIC BENEFIT CORPORATION, SO THE ORGANIZATION RETAINED THE EXISTING CONTRACT AND SUB-CONTRACTS THE DELIVERY TO THE NEW COMPANY. MORE SPECIFICALLY, THE ORGANIZATION RETAINED THE OREGON PREACT CONTRACT THAT EXPIRES ON 6/30/27. THE ORGANIZATION PROVIDES CONTRACT AND PROGRAM OVERSIGHT, IT COORDINATION SUPPORT (I.E., E-MAILS AND WEB HOSTING) AND ANNUAL INVOICING/PAYMENT SUPPORT. THE ORGANIZATION ALSO RETAINED TWO EXISTING GRANTS (ECMC AND KRESGE) AND SUBCONTRACTED TO THE NEW COMPANY FOR DELIVERY. THE ORGANIZATION PROVIDES GRANT CONTRACT AND PROGRAM OVERSIGHT AS WELL AS ACCOUNTING SUPPORT. Form 990, Part VI, Line 4 Significant changes to organizational documents During the fiscal year ended August 31, 2025, the organization amended its bylaws to remove the CEO as a director position on the board list and to allow directors to serve for a total of twelve years. Form 990, Part VI, Line 11b Review of form 990 by governing body THE AUDIT COMMITTEE OF THE CORPORATION CONDUCTS A SUBSTANTIVE REVIEW OF THE FORM 990 PRIOR TO ITS FILING WITH THE ASSISTANCE OF THE CORPORATION'S CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR. THE FINAL VERSION OF THE FORM 990 IS PROVIDED TO ALL OF THE MEMBERS OF THE CORPORATION'S BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST QUESTIONNAIRES SUBMITTED BY DIRECTORS AND OFFICERS ARE REVIEWED BY COUNSEL AND ADDRESSED BY THE GOVERNANCE AND NOMINATING COMMITTEE. Form 990, Part VI, Line 15a Process to establish compensation of top management official COMPENSATION OF THE CEO IS DETERMINED BASED UPON A PROCESS THAT INCLUDES CONTEMPORANEOUS DOCUMENTATION AND A PERIODIC INDEPENDENT COMPENSATION STUDY CONDUCTED BY A PROFESSIONAL FIRM. AMONG OTHER BENCHMARKS, THE STUDY INCLUDES A REVIEW OF COMPENSATION PUBLISHED BY SIMILAR ORGANIZATIONS CONTAINED IN FORM 990. COMPENSATION OF THE CEO IS APPROVED BY THE BOARD BASED UPON THE RECOMMENDATION OF THE COMPENSATION COMMITTEE. Form 990, Part VI, Line 15b Process to establish compensation of other employees Compensation of all other officers and key employees is approved by the CEO and Board of Directors. A periodic independent compensation study is conducted by a professional firm. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Miscellaneous Revenue - Total Revenue: 23831, Related or Exempt Function Revenue: 23831, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part IX, Line 11g Other Fees Pre-ACT Assessments - Total Expense: 254263, Program Service Expense: 254263, Management and General Expenses: , Fundraising Expenses: ; Retirement Management Fees - Total Expense: 15038, Program Service Expense: , Management and General Expenses: 15038, Fundraising Expenses: ; Human Resource Services - Total Expense: 5753, Program Service Expense: , Management and General Expenses: 5753, Fundraising Expenses: ; Consulting Services - Total Expense: 390175, Program Service Expense: , Management and General Expenses: 390175, Fundraising Expenses: ; Temporary Service Agreement administrative and operation support services - Total Expense: 32927, Program Service Expense: , Management and General Expenses: 32927, Fundraising Expenses: ;