Form 990 for tax year 2023
Filed by FUND FOR EDUCATIONAL EXCELLENCE INC.
Totals
- Total revenue
- $21,294,754
- Total expenses
- $27,361,712
- Contributions and grants received
- $18,090,734
- Grants paid
- $6,092,287
- Program service revenue
- $1,999,371
- Investment income
- $1,204,649
- Other revenue
- $0
- Total assets, end of year
- $31,258,443
- Total liabilities, end of year
- $3,285,414
- Net assets or fund balances, end of year
- $27,973,029
- Program services expenses (Part IX)
- $26,215,886
- Management and general expenses
- $763,625
- Fundraising expenses
- $382,201
- Program service expenses (Part III)
- $26,215,886
Program services were 95.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$3,196,011
-
1f · All other contributions, gifts and grants
$14,894,723
-
1g · Noncash contributions included above
$27,560
-
2a · Program service revenue: REVENUE FROM CONTRACTS
total $1,999,371 · related or exempt $1,999,371
-
3 · Investment income
total $1,204,649 · related or exempt $1,204,649
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $6,092,287 · program services $6,092,287
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $737,887 · program services $405,542 · management and general $208,847 · fundraising $123,498
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $6,109,928 · program services $5,775,522 · management and general $185,858 · fundraising $148,548
-
8 · Pension plan contributions
total $133,803 · program services $114,764 · management and general $11,127 · fundraising $7,912
-
9 · Other employee benefits
total $535,775 · program services $475,765 · management and general $33,234 · fundraising $26,776
-
10 · Payroll taxes
total $468,202 · program services $426,355 · management and general $24,761 · fundraising $17,086
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $192,894 · program services $192,894
-
11c · Fees: accounting
total $42,074 · program services $5,145 · management and general $36,929
-
11d · Fees: lobbying
total $49,400 · program services $49,400
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $9,079,289 · program services $8,937,505 · management and general $132,835 · fundraising $8,949
-
12 · Advertising and promotion
total $8,755 · program services $7,190 · management and general $1,565
-
13 · Office expenses
total $104,839 · program services $74,385 · management and general $15,469 · fundraising $14,985
-
14 · Information technology
total $7,121 · program services $4,870 · management and general $1,501 · fundraising $750
-
15 · Royalties
total $0
-
16 · Occupancy
total $204,108 · program services $171,117 · management and general $21,994 · fundraising $10,997
-
17 · Travel
total $1,314,889 · program services $1,314,308 · management and general $387 · fundraising $194
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $145,683 · program services $145,683
-
23 · Insurance
total $0
-
24a · Other expenses: SUPPLIES
total $764,588 · program services $754,943 · management and general $6,430 · fundraising $3,215
-
24b · Other expenses: MEALS
total $482,265 · program services $477,814 · management and general $2,967 · fundraising $1,484
-
24c · Other expenses: TRAINING AND EDUCATION
total $419,083 · program services $419,083
-
24d · Other expenses: Printing and Publications
total $313,539 · program services $273,718 · management and general $26,547 · fundraising $13,274
-
24e · All other expenses
total $155,303 · program services $97,596 · management and general $53,174 · fundraising $4,533
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $66,128 · end of year $243,524
-
2 · Savings and temporary cash investments
beginning of year $21,186,084 · end of year $21,811,470
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $13,242,424 · end of year $7,815,514
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $121,168 · end of year $89,361
-
10a · Land, buildings and equipment: cost or other basis
$332,184
-
10b · Land, buildings and equipment: accumulated depreciation
$295,711
-
10c · Land, buildings and equipment, net
beginning of year $56,990 · end of year $36,473
-
11 · Investments: publicly traded securities
beginning of year $542,867 · end of year $627,268
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
beginning of year $240,849 · end of year $129,916
-
15 · Other assets
beginning of year $634,997 · end of year $504,917
-
17 · Accounts payable and accrued expenses
beginning of year $1,069,181 · end of year $2,113,649
-
18 · Grants payable
beginning of year $198,000 · end of year $405,078
-
24 · Unsecured notes and loans payable
beginning of year $236,214 · end of year $255,564
-
25 · Other liabilities
beginning of year $633,260 · end of year $511,123
-
27 · Net assets without donor restrictions
beginning of year $4,106,070 · end of year $5,385,438
-
28 · Net assets with donor restrictions
beginning of year $29,848,782 · end of year $22,587,591
Mission and programs · 2023
Mission
WE EXPAND RESOURCES, IDENTIFY AND ACCELERATE SOLUTIONS, AND RECOGNIZE EXCELLENCE SO THAT ALL CHILDREN IN BALTIMORE CITY PUBLIC SCHOOLS EXPERIENCE AN EFFECTIVE AND ADEQUATE EDUCATION.
Activities or mission (Part I)
THE FUND FOR EDUCATIONAL EXCELLENCE EXPANDS RESOURCES, INDENTIFIES AND ACCELERATES SOLUTIONS, AND RECOGNIZES EXCELLENCE SO THAT ALL CHILDREN IN BALTIMORE CITY PUBLIC SCHOOLS EXPERIENCE AN EFFECTIVE AND EQUITABLE EDUCATION.
-
FISCAL SPONSORSHIP - THE FUND PROVIDES HIGH-LEVEL FINANCIAL AND GRANT MANAGEMENT EXPERTISE TO A RANGE OF MISSION-ALIGNED REGIONAL NONROFIT ORGANIZATIONS AND COMMUNITY PROGRAMS. IN SERVING AS A FISCAL SPONSOR, WE SUPPORT OUR CLIENT'S FINANCIAL AND HUMAN RESOURCE OPERATIONS, INCLUDING DETAILED BUDGET MANAGEMENT AND FINANCIAL REPORTING SERVICES, ALLOWING ORGANIZATIONS TO FOCUS ON THEIR PROGRAMMATIC GOALS WHICH OFTEN INCLUDE DEVELOPING INNOVATIVE EDUCATIONAL REFORMS AND EXPANDING STUDENT ACCESS TO HIGH-QUALITY EDUCATION. THE FUND HAS MANAGED OVER $50 MILLION FOR ITS CLIENTS OVER THE PAST SIX YEARS AND CURRENTLY SERVES AS FISCAL SPONSOR FOR 25 MISSION ALIGNED INITIATIVES.
Expenses $18,282,113 · Grants $5,501,569 · Revenue $1,437,702
-
DISTRICT FUNDRAISING - THE FUND WORKS CLOSELY WITH BALTIMORE CITY PUBLIC SCHOOLS TO RAISE AND SECURE EXTERNAL INVESTMENT THAT SUPPORTS THE DISTRICT'S HIGHEST-PRIORITY NEEDS. AS A TRUSTED PARTNER, WE HELP IDENTIFY THOSE NEEDS, TARGET POTENTIAL FUNDING SOURCES, AND PROVIDE FISCAL MANAGEMENT FOR THOSE PHILANTHROPIC INVESTMENTS. RECENT FUNDRIASING SUCCESSES INCLUDE SECURING NEARLY $60M IN PHILANTHROPIC SUPPORT FROM THE BILL & MELINDA GATES FOUNDATION, CHARLES AND LYNN SCHUSTERMAN FAMILY PHILANTHROPIES, THE WALLACE FOUNDATION, AND THE WILLAM & FLORA HEWLETT FOUNDATION.
Expenses $6,698,131 · Grants $395,000 · Revenue $386,159
-
ACCELERATE SOLUTIONS - WITH COMMUNITY INPUT, THE FUND IDENTIFIES CHALLENGES, RESEARCHES AND DEVELOPS RECOMMENDATIONS, AND PUSHES FOR INNOVATIVE SOLUTIONS TO IMPROVE BALTIMORE CITY PUBLIC SCHOOLS' POLICIES, PROCESSES, AND PROGRAMS. WE REGULARLY PUBLISH REPORTS THAT COMBINE STRONG ANALYTICS WITH COMMUNITY INPUT TO ADDRESS SOME OF THE MOST PRESSING PROBLEMS FACING OUR STUDENTS. WE PROVIDE ON-DEMAND WORKSHOPS TO HELP STUDENTS AND FAMILIES NAVIGATE THE DISTRICT'S SCHOOL CHOICE PROCESS FOR MIDDLE AND HIGH SCHOOL, WE PARTNER WITH BALTIMORE CITY PUBLIC SCHOOLS' OFFICE OF EARLY LEARNING AND LOCAL PROVIDERS TO EXPAND PRE-K OPTIONS TO 3- AND 4-YEAR OLDS, AND RUN AN EARLY-CHILDHOOD DEVELOPMENT PROGRAM THAT PROVIDES PARENTS OF PRE-SCHOOL AGE CHILDREN WITH EFFECTIVE PARENTING STRATEGIES FOR BEHAVIORAL MANAGMENT AND SKILLS TO SUPPORT THEIR CHILDREN'S ACADEMIC SUCCESS.
Expenses $768,407 · Revenue $164,425
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Roger SchulmanROGER SCHULMAN
President & CEO
- Total calculated
- $304,037
- From this org
- $287,207
- From related orgs
- $0
- Other
- $16,830
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $261,207
- Bonus
- $26,000
- Other
- not reported
- Deferred
- $10,564
- Nontaxable benefits
- $6,266
- Filer's total
- $304,037
-
Julia BaezJULIA BAEZ
CEO, BALT PROMISE
- Total calculated
- $228,776
- From this org
- $220,554
- From related orgs
- $0
- Other
- $8,222
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $205,554
- Bonus
- $15,000
- Other
- not reported
- Deferred
- $8,222
- Nontaxable benefits
- not reported
- Filer's total
- $228,776
-
Chuck AdkinsCHUCK ADKINS
CFO
- Total calculated
- $219,482
- From this org
- $207,845
- From related orgs
- $0
- Other
- $11,637
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,845
- Bonus
- $20,000
- Other
- not reported
- Deferred
- $7,672
- Nontaxable benefits
- $3,965
- Filer's total
- $219,482
-
Bridget BlountBRIDGET BLOUNT
CIO - BALT PROMISE
- Total calculated
- $182,142
- From this org
- $171,204
- From related orgs
- $0
- Other
- $10,938
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,704
- Bonus
- $8,500
- Other
- not reported
- Deferred
- $6,549
- Nontaxable benefits
- $4,389
- Filer's total
- $182,142
-
Kevin LearyKEVIN LEARY
SR. PRGM DIR
- Total calculated
- $169,363
- From this org
- $154,856
- From related orgs
- $0
- Other
- $14,507
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,081
- Bonus
- $17,775
- Other
- not reported
- Deferred
- $5,653
- Nontaxable benefits
- $8,854
- Filer's total
- $169,363
-
Corrie SchoenbergCORRIE SCHOENBERG
SR PRGM DIR
- Total calculated
- $167,417
- From this org
- $159,530
- From related orgs
- $0
- Other
- $7,887
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $142,693
- Bonus
- $16,837
- Other
- not reported
- Deferred
- $5,772
- Nontaxable benefits
- $2,115
- Filer's total
- $167,417
-
Wendy SametWENDY SAMET
EX DIR - MIDDL GRD
- Total calculated
- $165,872
- From this org
- $147,817
- From related orgs
- $0
- Other
- $18,055
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,817
- Bonus
- not reported
- Other
- not reported
- Deferred
- $8,112
- Nontaxable benefits
- $9,943
- Filer's total
- $165,872
-
Sharon DondesSHARON DONDES
SR PRGM DIR.
- Total calculated
- $153,021
- From this org
- $135,807
- From related orgs
- $0
- Other
- $17,214
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $120,727
- Bonus
- $15,080
- Other
- not reported
- Deferred
- $5,242
- Nontaxable benefits
- $11,972
- Filer's total
- $153,021
-
Mark BellMARK BELL
Director
- Total calculated
- $0
- Hours/week
- 1
-
Beth FelderBETH FELDER
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Ilene BermanILENE BERMAN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Russell MooreRUSSELL MOORE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Cinda Hughes CFACINDA HUGHES CFA
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Maxine WoodDR MAXINE WOOD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Jill FeinbergJILL FEINBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Melanie Hood-WilsonMELANIE HOOD-WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michele HongMICHELE HONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nancy Jordan-HowardNANCY JORDAN-HOWARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sara MilsteinSARA MILSTEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Justin A ReddJUSTIN A REDD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Arun SubhasARUN SUBHAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Neill ThupariNEILL THUPARI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott Robert WilsonSCOTT ROBERT WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$717,900
SUMMER FNDING, HEALING CITIES, REST
-
TOWSON UNIVERSITY R24
$360,000
PRINCIPAL PIPELINE SUBGRANT
-
$350,000
GENERAL OPERATIONS
-
$187,500
SUMMER FUNDING, EDUCATION GRANTS
-
$180,269
SUMMER FUNDING, YOUTH GRANTMAKING
-
$165,000
SUMMER FUNDING, PROJ RAMPART
-
$149,810
SUMMER FUNDING, YOUTH GRANTMAKING
-
$124,700
SUMMER FUNDING, YOUTH GRANTMAKERS
-
$122,980
COATS PROGRAM
-
$117,750
SUMMER FUNDING COLLABORATIVE
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 1 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202530919349300418
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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