Nonprofit · EIN 47-2406227
INDEPENDENT SCHOOL OF THOUGHT
Tax-exempt · COLDWATER, MS 38618
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-EZ | $115,859 | $116,992 | -$1,133 | $9,108 | $0 | $9,108 |
| December 31, 2024 | 990-EZ | $104,837 | $100,217 | $4,620 | $10,241 | $0 | $10,241 |
| December 31, 2023 | 990-EZ | $79,075 | $78,306 | $769 | $5,622 | – | $5,622 |
Financial details: 990-EZ for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $308
- Program service revenue
- $99,462
- Investment income
- $0
- Net income from fundraising events
- $895
- Other revenue
- $15,194
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $7,945
- Professional fees and payments to contractors
- $91,645
- Occupancy
- $2,640
- Printing, publications and postage
- $253
- Other expenses
- $14,509
- Program services (functional)
- $116,087
Balance sheet and other
- Total assets, start of year
- $10,241
- Total assets, end of year
- $9,108
- Total liabilities, end of year
- $0
- Net assets, end of year
- $9,108
- Cash, savings and investments
- $9,108
- Gross receipts
- $116,764
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-EZ for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jessica Fulton | Executive Director/President | 5 | $0 |
| Brandie Correro | Treasurer | 0.1 | $0 |
| Randi Lynn | Secretary | 0.1 | $0 |
| Khrystal Vaughn | Director | 0.1 | $0 |
990-EZ for the year ended December 31, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Randi Lynn | Secretary | 0.05 | $0 |
| Khrystal Vaughn | Board Member | 0.05 | $0 |
| Brandie Correro | Treasurer | 0.05 | $0 |
| Jessica Fulton | President | 0.05 | $0 |
990-EZ for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Randi Lynn | Secretary | 0 | $0 |
| Khrystal Vaughn | Board Member | 0 | $0 |
| Board Member | Brandie Correro | 0.01 | $0 |
| Jessica Fulton | Executive Officer/Treasurer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3931 HIGHWAY 306, COLDWATER, MS 38618-5117
- Mailing address (990-N for 2019)
- 1298 Thunderbird Dr N, HERNANDO MS 38632
- Principal officer (990-N for 2019)
- Jessica Fulton, 1298 Thunderbird Dr N, HERNANDO MS 38632
- Signed the 990-EZ
- Jessica Fulton, Executive Director
- Phone
- (662) 469-9366
Mission
Independent School of Thought is an educational organization assisting families who homeschool.
Program accomplishments
- IST has had another successful school term serving families who homeschool. IST is a hybrid school that provides a traditional class schedule two days a week, an optional add-on tutoring day, opportunities for field trips, game days, community service projects, etc.Expenses $116,087
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 | 990-EZ on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 47-2406227
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2018
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B24)
- Assets (IRS master file)
- $9,108
- Income (IRS master file)
- $116,764
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2025 | $115,859 | $116,992 | $9,108 | IRS |
| 990-EZ | December 2024 | $104,837 | $100,217 | $10,241 | IRS |
| 990-EZ | December 2023 | $79,075 | $78,306 | $5,622 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-N for 2019 Officer: Jessica Fulton | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
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 47-2406227).
Questions about INDEPENDENT SCHOOL OF THOUGHT
- What is the EIN of INDEPENDENT SCHOOL OF THOUGHT?
- The employer identification number (EIN) of INDEPENDENT SCHOOL OF THOUGHT is 47-2406227.
- Is INDEPENDENT SCHOOL OF THOUGHT tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to INDEPENDENT SCHOOL OF THOUGHT tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDEPENDENT SCHOOL OF THOUGHT 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 INDEPENDENT SCHOOL OF THOUGHT due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDEPENDENT SCHOOL OF THOUGHT last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2025.
- Who is the principal officer of INDEPENDENT SCHOOL OF THOUGHT?
- The 990-N for 2019 names Jessica Fulton.
- Who are the officers and directors of INDEPENDENT SCHOOL OF THOUGHT?
- The 990-EZ for the year ended December 31, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does INDEPENDENT SCHOOL OF THOUGHT have?
- On its 990-EZ for the year ended December 31, 2025 it reported revenue of $115,859, expenses of $116,992 and total assets of $9,108 at year end.
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