Prager University Foundation raised $76.57 million in 2025 and closed the year with $105.50 million in net assets. Contributions run about 95 percent of revenue. The foundation pays its chief executive more than a million dollars a year, has paid the founder’s company $3,573,626 since 2015, and pays the founder’s son more than half a million dollars a year. Those figures come off the e-filed returns, which anyone can pull from ProPublica’s Nonprofit Explorer.
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Marissa Streit was recruited by Dennis Prager and Allen Estrin to help launch the project, and PragerU now says she took the helm in 2011. The federal filings tell a slower story. The 2013 and 2015 returns list Estrin as chief executive officer and Streit as chief operating officer, and Estrin signed both returns over the printed word President while the same documents called him CEO in Part VII. Item F of the 2013 return names him principal officer, at 2325 Dulles Corner Boulevard in Herndon, Virginia, which is the office of Sterling Foundation Management, the firm run by board chairman Roger Silk. Streit becomes principal officer and chief executive with the 2016 return. Public leadership and filing title are two different records at this organization, and the gap between them runs through everything that follows.
Her base has sat near $738,000 since 2022, at $737,361 that year and $738,851 in 2024. On top of that comes a bonus the returns describe as based on annual revenues, estimated and accrued by December 31 and reconciled after the audit. The bonus was zero in 2019 and zero in 2020. Then $94,500 in 2021, $211,321 in 2022, $168,354 in 2023, $249,999 in 2024 and $249,999 in 2025. Her reportable compensation was $988,850 in 2024, her total package $1,022,373, and $1,031,315 in 2025. Two consecutive years landing one dollar under a round number point to a ceiling of $250,000. The returns disclose no ceiling. An earlier version of the arrangement did.
Candid, which publishes the standard reference on this question, drew its 2024 compensation report from the 2022 filings of more than 128,000 tax-exempt organizations. Among nonprofits with budgets above $50 million, median compensation ran $559,770 for male chief executives and $430,640 for female ones. The Chronicle of Philanthropy reported the full spread in that budget band: roughly $237,000 at the tenth percentile and above $1.5 million at the ninetieth. Streit sits in the upper stretch of that band, inside it.
Sal Khan founded Khan Academy, which does what PragerU does in a different key, free instructional video at scale. Khan Academy spent about $87.5 million in 2025 and Khan drew $871,000, according to an analysis of the filings by Class Central. Turning Point USA reported $85 million in revenue and paid Charlie Kirk about $390,000 in 2023, per Forbes. The Heritage Foundation, which holds $413.8 million in assets, paid president Kevin Roberts $953,920 in 2023, including a bonus of $300,300, as CharityWatch read out of Schedule J.
So PragerU pays its chief executive more than the Heritage Foundation pays its president, more than Khan Academy pays the man whose name is on it, and more than twice what Turning Point USA paid its founder. It also pays her within the going rate for a nonprofit of its size.
Scale it against the money coming in. Streit’s package equals 1.35 percent of 2025 revenue. Khan’s equals about 1 percent of Khan Academy’s spending. Kirk’s equaled about half a percent of Turning Point’s. Her own share has been falling as the organization grows. She took $205,000 against $5.34 million of revenue in 2016, which is 3.8 percent. In 2018 it was 2.1 percent. In 2025, 1.35 percent. The dollars rise and the fraction shrinks.
The staff grew faster than any of it. The count of people receiving more than $100,000 in reportable compensation, which sits on the last line of Part VII Section A, ran one in 2012, one in 2013, two in 2015, two in 2016, five in 2018, eight in 2019, twenty-one in 2020, thirty-six in 2022, forty-one in 2023, sixty-one in 2024 and eighty-one in 2025. A charity that started in a kitchen now carries a six-figure payroll the size of a mid-market network’s.
David Prager is chief development officer and Dennis Prager’s son. PragerU identifies him by that title on its own site. His total compensation ran $398,536 in 2020, when the return listed him as vice president for development, then $444,474 in 2021, $442,845 in 2022, $432,396 in 2023, $459,736 in 2024 and $523,616 in 2025. The 2024 Schedule J breaks that year into $385,041 of base and a $25,000 bonus. Before he came on payroll his firm Palm Tree Consulting received $155,700 in 2018 and $38,700 in 2019, both disclosed on Schedule L with the family relationship stated. Development chiefs are the best-paid non-chief-executive officers at large nonprofits, and PragerU turns donor cultivation into 95 percent of its income. Half a million dollars against $76.57 million raised is 0.68 percent of the money the job exists to bring in. The rate fits the job description. How a founder’s son moved from an outside related-party consulting arrangement onto the payroll, what process governed the hire, and what comparables the board used are questions the filings do not answer.
Then Kansas and Brooklyn, the company Dennis Prager owns, which received $150,000 in 2015, $200,000 in 2016, $250,000 in 2017, $237,500 in 2018, $301,667 in 2019, $382,913 in 2020, $462,083 in 2021, $493,333 in 2022, $375,000 in 2023, $446,130 in 2024 and $275,000 in 2025. Total, $3,573,626. Average, $324,875 a year. As a share of revenue it fell from 4.2 percent in 2015 to 0.36 percent in 2025.
The company is Prager’s personal-services corporation and it predates PragerU by more than a decade. The El Camino Community College District board of trustees approved a campus lecture by him for May 15, 2005 at a fee of $6,600, and its December 20, 2004 agenda directs the check to Kansas and Brooklyn, noting that Mr. Prager comes to campus to lecture students studying speech communications. A 2009 conference program book gives the company’s address as 26500 Agoura Road in Calabasas, the same address that later appears beside its name in PragerU’s contractor tables. Actors, hosts and writers have used loan-out corporations like this for decades. The performer sells his services to several buyers, the corporation collects the fees and pays him a salary while carrying his retirement plan and his business expenses. Under subchapter S he splits the income between salary and distribution and lowers his self-employment tax. The buyer skips payroll tax, benefits and workers compensation and writes one check against an invoice.
His rate through that company was $6,600 for a lecture in 2005. Hungarian reporting on a contract obtained through a public-records request puts two separate $15,000 fees from Mathias Corvinus Collegium in 2021, one for a speech and one for a podcast appearance. PragerU paid the same company $462,083 that year, roughly thirty appearances at his own going rate. Whatever the charity buys, it is not priced like the thing El Camino bought, and the returns never say what it is. Across eleven years they give one description: consulting services performed by Dennis Prager. No hours, no deliverables, no scope. He appears on camera, hosts the Fireside Chats, headlines the donor events and lends the name the organization is built on. Any of that is a plausible service. So is the use of his name, his likeness or his archives, and if the contract licenses those the organization would still be entitled to call it consulting on a Form 990.
Section 4958 asks whether an exempt organization has given an excessive economic benefit to a disqualified person directly or indirectly. The regulation counts all consideration exchanged between the parties and applies whether or not the amount is determined by the organization’s revenues. It also carries an initial contract exception that shelters fixed payments under a contract signed with someone who was not yet a disqualified person, which is the natural defense for a company that predates the charity by a decade. PragerU has never claimed it. Schedule J line 8 asks whether any Part VII amounts were paid under such a contract, and the answer is No in every year.
For 2015, 2016 and 2017 the payment showed up only as a line in the top-five contractor table, with the organization answering No to the Form 990 question about business transactions with interested persons and filing no Schedule L. Money paid to an employee lands in Part VII Section A with a title, an hours figure and a compensation column, and above the threshold it lands again on Schedule J split into base, bonus, other, deferred and nontaxable benefits. Money paid to a contractor lands in Part VII Section B as a name, an address, a phrase and a single number. For three years that single number was all a reader got.
The non-disclosure had a consequence in print. On August 22, 2019 the Los Angeles Times reported that PragerU’s growth had been lucrative for Prager, who it said had started collecting fees from the charity the previous year, and that filings showed $237,500 going to his consulting firm and $155,700 to his son for help with fundraising. By then Kansas and Brooklyn had taken $837,500 across four years. The paper read the first Schedule L, saw a related-party disclosure appear for the first time, and drew the reasonable inference that the arrangement was new. Streit was quoted in the same passage calling what Prager makes “negligible,” and saying that in a for-profit he would earn far more, because the organization is driven by impact. That year the foundation paid her $397,864, about 1.7 times what it paid his company. The Center for Media and Democracy published the four-year sequence five months later.
The disclosure begins with the 2018 return, the year Prager first appears in Part VII as President and Founder. Then the 2020 return moves three things at once. The Schedule L description changes from consulting services performed by Dennis Prager, founder and president, to consulting services performed by Dennis Prager, co-founder. He disappears from Part VII and has not reappeared through 2025. And the Schedule O explanation of how pay gets set, which in 2019 covered the chief executive and executive director, becomes determining compensation for the chief executive officer, executive director and founder. The board says it sets the founder’s compensation in the same return in which it stops listing him as an officer.
Follow the checkbox that carries the disclosure. Every return from 2018 through 2025 answers No to line 28a and Yes to line 28c, the question about an entity 35 percent owned by a person described in 28a. From the 2019 form onward, line 28a names creators and founders by those words. Since Prager left Part VII after 2019, founder status is the only category that can be carrying the Yes. PragerU has reached Schedule L through founder status for six straight years. That status already sat in the Schedule L instructions in 2015, 2016 and 2017, when the organization answered No. The printed checkbox on the face of the return in those years named only officers, directors, trustees and key employees, so a preparer had a narrow reading available. Two readings of the same form existed. PragerU took the narrow one, the IRS closed the gap with the 2019 form, and PragerU began disclosing a year before that.
The bonus arrangements have their own chronology and it runs in three acts. In 2016 both senior executives were paid flat. Allen Estrin, co-founder, listed as executive director at thirty hours a week, took $200,000 with no bonus. Streit took $205,000, also flat. Schedule J that year answered No to the question about pay contingent on revenues.
Two years later the answer is Yes and the formula is written down. The 2018 Schedule J says Streit receives 1.25 percent of fundraising with an annual amount not to exceed $400,000, and that chief marketing officer Craig Strazzeri receives 0.9 percent of online fundraising. Strazzeri had been hired for exactly that work, and Pepperdine introduced him in February 2018 as an expert in digital marketing, social media and online fundraising. A percentage set by contract with a stated ceiling counts as a fixed payment under the instructions for Schedule J, and the regulation agrees, giving the example of a performing arts chief executive paid a base plus 2 percent of season subscription sales above a threshold.
Do the arithmetic on that year. A bonus of $122,864 at 1.25 percent implies a fundraising base near $9.83 million, against total revenue of $18.60 million. So the word fundraising in her contract covers something narrower than everything the organization took in, and the return never defines it. Strazzeri’s $23,715 at 0.9 percent implies online fundraising near $2.64 million.
Act two is the shutdown. The 2019 Schedule J says Strazzeri received bonuses based on levels of online fundraising and that the structure was discontinued as of December 2019. Streit is not mentioned in that year’s explanation at all, and her bonus is zero. In the 2020 return the revenue-contingent line is answered No, her bonus is zero again, and her base jumps to $497,998. The organization ran a year with no revenue-linked executive pay of any kind.
Act three is the replacement, and it arrives without a published formula. By the 2022 return the revenue line is Yes again and Streit’s bonus is $211,321 on a base of $737,361. The explanation says she receives bonuses based upon revenues raised annually, that the compensation committee considers reasonableness while using compensation studies, and that the committee reviews each year’s bonus before it is paid out. The instructions draw a line worth knowing here. A bonus equal to a percentage of revenues goes on line 5 even if it also depends on hitting a target. A flat dollar amount paid only on hitting a target does not. PragerU keeps answering Yes, so the current arrangement is still a percentage calculation of some kind. A percentage calculation that lands on $249,999 two years running is a percentage with a ceiling, and the ceiling appears nowhere.
Something else has gone quiet. The line asking whether any compensation is contingent on net earnings is answered No in 2019 and 2022 and Yes in 2023, 2024 and 2025. The 2023 return explains it: the organization trialed a year-end bonus to staff, no officers included, based on PragerU net earnings. In 2024 and 2025 the answer stays Yes and the explanation is gone, though the instructions require a description in Part III. The 2023 return also said a minority portion of the chief marketing officer’s and chief financial officer’s year-end bonuses is tied to annual revenues, and that sentence is likewise gone from the two later returns. In 2024 the chief financial officer took a $116,000 bonus on a base of $349,517, for $497,870 in all. Since the non-fixed payment line is answered No, that bonus has to be covered by the revenue or net-earnings lines, and the only sentence that ever covered it was deleted. The same schedule discloses that C-level employees occasionally use first-class travel on long or red-eye flights and that the value is not included in their taxable compensation.
Revenue-linked pay to insiders has a body of law behind it. Section 4958 asks whether the total is reasonable. A charity earns a rebuttable presumption of reasonableness when a conflict-free body approves the arrangement in advance, obtains appropriate comparability data first, and documents the basis contemporaneously. The regulation is specific about the data. One example holds that a board relying solely on a national survey of university president pay, undivided by revenue, size or geography, has not obtained appropriate comparability data. Another example runs the other way and lets a board keep relying on the prior year’s independent survey once it determines that market conditions have not changed materially, so the 2025 return citing a September 2024 study is unremarkable. A third provision covers exactly this shape of arrangement, a capped bonus, and requires the comparability data to support the maximum payable counting base and bonus together.
PragerU cites compensation studies dated November 2018, November 2020, November 2022 and September 2024, and names neither the preparer nor the peer group. The timing raises a question the returns cannot answer. Streit’s reportable compensation was $669,500 in 2021, of which $94,500 was bonus, so her base was roughly $575,000. Her 2022 base is $737,361. The raise happened during 2022 and the study PragerU cites for that period is dated November 2022. The regulation requires the data before the determination. Which came first is in the minutes and nowhere else. Schedule J checks a box for an independent compensation consultant every year while Schedule O describes a professional and independent search firm. Those are different vendors doing different work, and neither is named.
Streit calls the organization an edu-tainment nonprofit, and its 2022 annual report told donors that PragerU competes for the same human capital sought by global media companies like Paramount and Disney. A board that believes it hires against commercial entertainment would rationally reject a peer set of conventional education charities. Whether the September 2024 study actually used media-company comparables, or whether Paramount and Disney are donor-facing language and the study benchmarks against nonprofits, is the single most useful thing anyone could learn about this organization’s governance.
The board has been shrinking throughout, from ten voting members in 2017 and 2018 to nine, then seven, then eight, and five in 2025.
One sentence changed in a way California law makes checkable. Through the 2022 return, Schedule O told readers that the foundation’s governing documents, including its bylaws, audited financial statements, federal Forms 990 and conflict of interest policy, are available to the public on request. From the 2023 return the audited financial statements are dropped from that list. Government Code section 12586(e) requires California charities above $2 million in revenue to prepare audited statements and make them available to the public.
Where the money goes is no mystery. The top of the contractor table is paid distribution. Facebook took $1,200,928 in 2018, $3,633,880 in 2019, $3,212,997 in 2020, $9,233,065 in 2022, $8,723,880 in 2023, $11,631,889 in 2024 and $12,353,874 in 2025. Google took $612,388, $3,173,229, $3,975,480, $7,028,439, $8,326,786, $10,545,412 and $8,057,879 across the same years. Fox News Network, X Corp at $1,575,000 in 2024, EKF Promotions, Givingtons and HSP Direct fill out the lists. This is a donor-funded audience acquisition operation with a video studio attached, and the family payments are a rounding error against the ad buy.
Its own returns also show what it pays for on-camera talent. In 2019 the top-five contractor table lists Candace Owens as presenter and show host at $445,626. Kansas and Brooklyn received $301,667 that year.
A hundred and five million dollars in net assets sounds like a war chest. Against $76.57 million of annual revenue it comes to about seventeen months of operating money, which sits inside what charity analysts treat as prudent.
The headline compensation figures are not outside the range large nonprofits produce. What invites investigation is the structure behind them: a chief executive whose bonus is calculated off revenue under a formula the public cannot see, a founder paid for more than a decade through his own corporation for services the returns never describe, a son who moved from related-party consultant to highly paid development chief, and compensation studies the filings invoke and never disclose.
The filings create an odd asymmetry. We know what the board wants the government to know, that outside experts and studies were used, that the committee approved the arrangements, that the amounts were treated as reasonable. We do not know the peer institutions, the formula now in force, the terms of the Kansas and Brooklyn contract, the services delivered under it, or the minutes recording who recused. Those are the facts that would let an outsider reproduce the board’s conclusion.
Marissa Streit runs the organization that carries Dennis Prager’s name, and the usual shorthand for her, chief executive of Dennis Prager’s nonprofit, understates what she did. Prager supplied the name, the worldview and the public legitimacy. Allen Estrin supplied the video concept. Streit built the institution that carries both, and PragerU’s growth from an online experiment with $523,785 in revenue in 2012 to $76.57 million in revenue and $105.50 million in net assets in 2025 is substantially her professional achievement.
She was born in Los Angeles around 1981, to an Australian father and a Moroccan mother who had met in Israel. Her parents divorced when she was seven and she moved to Israel with her mother, keeping her American ties through her father and sister. She has called Israel her spiritual homeland, and her mother worked on the integration of Moroccan Jews into Israeli society.
The story she tells about her own formation happened at Yad Vashem when she was thirteen or fourteen. She asked how the Holocaust could have happened without anyone stopping it. A docent told her that most people do not fight, or wait until it is too late, and rely on others to do the fighting. She has repeated that exchange for two decades, including in her own words to donors in a PragerU report, where she concluded that if we do not fight, we will lose everything. Her politics make more sense read through that sentence than through any party platform. She describes education, media, Big Tech, antisemitism and campus politics using one recurring structure: institutions are captured, ordinary people hesitate, and passivity in the presence of evil becomes a form of participation in it.
After the army she returned to Los Angeles at about twenty-one and went to UCLA, where she studied business and economics. She has said she made good money teaching Hebrew school while a student, because she spoke Hebrew and knew Israeli history, and that this was where she discovered she liked teaching. She later took a graduate degree from American Jewish University, which PragerU describes as a master’s in education and nonprofit management. The Jewish Journal reported her describing it as an MBA in nonprofit management. Those two descriptions have not been reconciled against the university’s record.
Streit says she taught kindergarten through eighth grade, with fourth and fifth her preferred years, then became an assistant administrator, then a school head, and started a preschool. She told The Guardian in 2026 that she was assistant principal at a parochial school in Los Angeles and then ran another school nearby for about four years. She declined to name either school, saying she did not want them subjected to political attack, and PragerU declined as well. The paper reported that it could not independently locate records of her teaching or administrative positions. Seven years earlier the Los Angeles Times had described her as headmistress of a Manhattan Beach school, and PragerU’s current biography says she led two Southern California schools. Her own account puts the headship somewhere around 2005 to 2009, in or near the South Bay, at a small religious school.
She says the schools radicalized her. She told the Los Angeles Times she was disturbed by low standards and by union protections, recalling colleagues telling her that a plumber could be fired and a bad teacher could not. Anti-Zionism and American coverage of Israel bothered her at the same time, and the two grievances converged into one: the institutions that form young minds were teaching what she believed to be false, while conservatives complained about it instead of building an alternative. She then spent under a year as director of operations at what became the Israeli-American Council, before PragerU.
The chronology of her arrival is muddier than it should be. The Los Angeles Times reported that Prager and Estrin recruited her to launch the group in 2009. PragerU’s own institutional history says the foundation was incorporated in 2010, the website launched in 2011, and Streit became its first employee that year, with the first headquarters in her kitchen. Her LinkedIn dates her tenure as chief executive to April 2011, and a 2019 PragerU booklet says she joined in 2011 and calls her CEO. The federal filings tell a slower story. The 2012 return lists Marissa Sharpe as chief operating officer at forty hours a week and $105,000. The 2013 return lists Marissa Streit in the same role at the same hours for $113,750, while Allen Estrin appears as chief executive officer and signs the return over the printed word President. Item F of that return names Estrin as the organization’s principal officer. The 2015 return still calls her chief operating officer, at $153,333. She first appears as chief executive, and as principal officer, in the 2016 return, at $205,000.
Streit recalls donors resisting the idea of spending heavily on short videos and resisting even harder the idea of paying to advertise them. Her answer was what she calls the Hollywood model. If Disney spends to market a film, why would an ideological nonprofit assume good arguments distribute themselves. Content without paid promotion, she told NPR, is a beautiful car with no gasoline, and she runs PragerU more like a business than a nonprofit. The returns bear her out. In 2025 the foundation paid Facebook $12,353,874 and Google $8,057,879. Across 2018 through 2025 those two platforms took more than $80 million of donor money. Streit turned donations into advertising, advertising into audience, audience into proof of influence, and influence back into donations. It is direct-response marketing applied to ideas, and it is the single most consequential decision in the organization’s history.
Prager tells donors that Streit and Estrin run the place day to day while he supplies the values and the content. She also saw early that depending on other people’s platforms was dangerous, and after years of fights over restricted and demonetized videos she pushed PragerU toward channels it owns: an app, an email list, its own player. By 2023 she was claiming more than a million app downloads and two million new email subscribers in a year, figures that come from PragerU rather than from any audit.
Then came the move from media company into schools. She launched PragerU Kids, Florida approved the material as a supplemental classroom resource in 2023, and other states followed; PragerU now claims partnerships with twelve. NPR obtained emails showing that the donor David Blumberg introduced Streit to Florida education commissioner Manny Diaz Jr. in January 2023 to discuss exactly that. Historians and climate scientists have argued that the material blurs advocacy and instruction. Her answer is a market argument rather than a claim of neutrality. Children already receive an overwhelmingly left-of-center account, she says, and PragerU offers an alternative; she told the Washington Post that she is not claiming anyone should use only PragerU. She does not appear embarrassed that her organization has a worldview. She rejects the premise that the schools it competes with lack one. By 2025 she was arguing in The Daily Wire for abolishing the federal Department of Education.
She has been building a public identity alongside the institution. Real Talk with Marissa Streit launched in 2022 and now runs to more than 170 weekly episodes across education, Israel, geopolitics, health and culture. That role grew after Dennis Prager’s spinal injury in November 2024, when she became the organization’s voice on his condition and, increasingly, its public face. The injury also demonstrated how far she had already separated the institution from the man. Contributions rose in 2025 rather than collapsing. The 2025 annual report describes a new Leadership Council of thinkers assembled to preserve what it calls the same moral clarity Dennis has always championed, which is an attempt to convert a personality into a governing tradition. She began as the operator who distributed Dennis Prager. She is becoming the person who decides what counts as Dennis Prager.
A June 2014 federal campaign filing records a $500 contribution from Streit listing her employer as the Milstein Foundation and her occupation as executive director, three years into her PragerU tenure. Merona Leadership Foundation, created in 2014 with Gila Milstein as president, is reported to list Streit as secretary on its 2015 and 2016 returns, without compensation. Over the same period the Adam and Gila Milstein Family Foundation was underwriting PragerU videos such as “The Middle East Problem” in April 2014, “BDS: The Attempt to Strangle Israel” that July, and “Is the UN Fair to Israel?” that September. Estrin’s line about her early days, that she was a general without an army, reads differently once you can see where some of the army came from.
Her ideas have been flat while her scale has grown. There is no early, middle and late Streit in the sense of conversions. The themes hold: identification with Israel, distrust of unionized public schooling, confidence in markets, fear of ideological conformity, and a conviction that conservatives lose because they argue well and distribute badly. What changed is ambition. First she wanted to fix a school. Then to make five-minute lessons. Then to advertise them to millions. Then to own the pipes. Then to publish books, lesson plans and children’s programming, and to get them adopted by states.
