Form 990 for tax year 2024
Filed by FOUNDATION FOR FREE ENTERPRISE EDUCATION.
Totals
- Total revenue
- $2,278,633
- Total expenses
- $1,685,739
- Contributions and grants received
- $1,374,265
- Grants paid
- $0
- Program service revenue
- $600,772
- Investment income
- $303,596
- Other revenue
- $0
- Total assets, end of year
- $8,894,735
- Total liabilities, end of year
- $485,206
- Net assets or fund balances, end of year
- $8,409,529
- Program services expenses (Part IX)
- $920,761
- Management and general expenses
- $541,447
- Fundraising expenses
- $223,531
- Program service expenses (Part III)
- $920,761
Program services were 54.6% 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.
-
1f · All other contributions, gifts and grants
$1,374,265
-
1g · Noncash contributions included above
$26,701
-
2a · Program service revenue: REGISTRATION FEES
total $595,283 · related or exempt $595,283
-
2b · Program service revenue: OTHER INCOME
total $5,489 · related or exempt $5,489
-
3 · Investment income
total $297,703 · excluded $297,703
-
7a · Gross sales of assets other than inventory
securities $1,814,903
-
7b · Less cost or other basis and sales expenses
securities $1,809,010
-
7c · Gain or loss
securities $5,893
-
7d · Net gain or loss
total $5,893 · excluded $5,893
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $197,897 · program services $66,057 · management and general $82,297 · fundraising $49,543
-
7 · Other salaries and wages
total $559,875 · program services $285,537 · management and general $169,124 · fundraising $105,214
-
8 · Pension plan contributions
total $50,317 · program services $23,643 · management and general $17,044 · fundraising $9,630
-
9 · Other employee benefits
total $44,661 · program services $20,985 · management and general $15,128 · fundraising $8,548
-
10 · Payroll taxes
total $56,020 · program services $24,370 · management and general $20,819 · fundraising $10,831
-
11b · Fees: legal
total $875 · management and general $875
-
11c · Fees: accounting
total $15,000 · management and general $15,000
-
11f · Fees: investment management
total $54,119 · management and general $54,119
-
12 · Advertising and promotion
total $53,574 · program services $170 · management and general $36,137 · fundraising $17,267
-
13 · Office expenses
total $37,479 · program services $7,239 · management and general $16,625 · fundraising $13,615
-
14 · Information technology
total $13,559 · program services $473 · management and general $13,086
-
16 · Occupancy
total $3,761 · management and general $3,761
-
19 · Conferences, conventions and meetings
total $46,496 · program services $25,546 · management and general $17,198 · fundraising $3,752
-
20 · Interest
total $250 · management and general $250
-
22 · Depreciation, depletion and amortization
total $35,154 · management and general $35,154
-
23 · Insurance
total $20,412 · management and general $20,412
-
24a · Other expenses: STUDENT ROOM AND BOARD
total $427,881 · program services $427,881
-
24b · Other expenses: COMPANY ADVISORS
total $37,479 · program services $37,479
-
24c · Other expenses: CONTRACT LABOR
total $16,217 · program services $1,381 · management and general $9,705 · fundraising $5,131
-
24e · All other expenses
total $14,713 · management and general $14,713
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $556,660 · end of year $637,187
-
2 · Savings and temporary cash investments
beginning of year $276,822 · end of year $18,122
-
3 · Pledges and grants receivable
beginning of year $30,939 · end of year $35,783
-
9 · Prepaid expenses and deferred charges
beginning of year $30,280 · end of year $34,860
-
10a · Land, buildings and equipment: cost or other basis
$662,192
-
10b · Land, buildings and equipment: accumulated depreciation
$252,998
-
10c · Land, buildings and equipment, net
beginning of year $411,681 · end of year $409,194
-
11 · Investments: publicly traded securities
beginning of year $6,629,210 · end of year $7,759,589
-
17 · Accounts payable and accrued expenses
beginning of year $444,602 · end of year $485,206
-
27 · Net assets without donor restrictions
beginning of year $7,055,552 · end of year $7,936,605
-
28 · Net assets with donor restrictions
beginning of year $435,438 · end of year $472,924
Mission and programs · 2024
Mission
SEE PROGRAM SERVICE ACCOMPLISHMENTS BELOW
Activities or mission (Part I)
TO HEIGHTEN THE AWARENESS OF PENNSYLVANIA'S YOUTH ABOUT THEIR FUTURE ROLE IN THE AMERICAN FREE ENTERPRISE SYSTEM BY DELIVERING HIGH-QUALITY AND PRACTICAL HANDS-ON EDUCATIONAL EXPERIENCES. THE FOUNDATION ALSO BECAME THE EXCLUSIVE PENNSYLVANIA COORDINATOR FOR THE STOCK MARKET GAME (SMG). SMG IS AN INTERNATIONALLY ACCLAIMED INTERACTIVE IN-SCHOOL PROGRAM THAT TEACHES STUDENTS IN GRADES 4-12 ABOUT GLOBAL CAPITAL MARKETS, INVESTING AND PERSONAL FINANCE.
-
THE FOUNDATION FOR FREE ENTERPRISE EDUCATION SUCCESSFULLY OPERATED THREE YOUTH EDUCATION PROGRAMS CENTERED AROUND BUSINESS, SKILLS DEVELOPMENT, CAREER EXPLORATION, FINANCIAL LITERACY AND WORKFORCE PREPAREDNESS THAT IMPACTED NEARLY 15,000 YOUNG PENNSYLVANIANS IN PROGRAM YEAR 2025. PENNSYLVANIA FREE ENTERPRISE WEEK (PFEW) TEACHES HIGH SCHOOL STUDENTS ABOUT MODERN BUSINESS AND FREE ENTERPRISE AND HELPS THEM DEVELOP RELEVANT, JOB-READY SKILLS. ONCE AGAIN, PFEW OPERATED FIVE WEEK-LONG SUMMER SESSIONS ON THE CAMPUSES OF LYCOMING COLLEGE AND PENNSYLVANIA COLLEGE OF TECHNOLOGY IN WILLIAMSPORT, PA, EDUCATING 1,890 STUDENTS STATEWIDE. THE STOCK MARKET GAME (SMG) CONTINUED TO GROW, EDUCATING A RECORD 10,935 STUDENTS IN GRADES 4-12 DURING THE 2024-2025 SCHOOL YEAR. SMG IS AN IN-SCHOOL PROGRAM THAT TEACHES STUDENTS ABOUT INVESTING, CAPITAL MARKETS AND FINANCIAL LITERACY. THE SPEAKER SERIES ADDED MORE CAREER EXPLORATION VIDEOS AND REGIONAL PROGRAMS AND CREATED TWO CAREER EXPLORATION WORKBOOKS, ONE FOR STUDENTS AND ONE FOR TEACHERS, THAT ALIGN WITH PA STATE CAREER EDUCATION AND WORK (CEW) AND PERSONAL FINANCE STANDARDS. THE SERIES VIDEOS AND ONLINE RESOURCES GAINED OVER 2,000 ADDITIONAL UNIQUE VIEWS IN 2025. ALL THREE OF OUR YOUTH PROGRAMS MEET OR EXCEED THE NEW PERSONAL FINANCE STANDARDS AND CONTINUE TO SUPPORT THE PENNSYLVANIA CEW STANDARDS. OUR PROGRAMS EFFECTIVELY ALIGN WITH ACT 158 AND THE PDE/CTE'S PROGRAM OF STUDY TASK LIST FOR SALES, DISTRIBUTION, AND MARKETING OPERATIONS.
Expenses $920,761 · Revenue $600,772
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Chad M AmondCHAD M AMOND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Darlene J RobbinsDARLENE J ROBBINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David A CampbellDAVID A CAMPBELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David N TaylorDAVID N TAYLOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gary M GossGARY M GOSS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George M Book JrGEORGE M BOOK JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James KilgallonJAMES KILGALLON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason C FinkJASON C FINK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jon G WhitemanJON G WHITEMAN
VICE CHAIRMAN/ASSISTANT TR
- Total calculated
- $0
- Hours/week
- 1
-
Joseph D HurdJOSEPH D HURD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Katie E ClarkeKATIE E CLARKE
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Kevin ShiversKEVIN SHIVERS
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Kevin W DavisKEVIN W DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kyle P WherrityKYLE P WHERRITY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lawrence E RybackiLAWRENCE E RYBACKI
EMERITUS DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lindsay Griffin-BoylanLINDSAY GRIFFIN-BOYLAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lowman S HenryLOWMAN S HENRY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mark A KarenchakMARK A KARENCHAK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mark J PietrusinskiMARK J PIETRUSINSKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nick N Scott JrNICK N SCOTT JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Patricia A BaunPATRICIA A BAUN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Paul J Ward EsqPAUL J WARD ESQ
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Robert J Wetzel EsqROBERT J WETZEL ESQ
EMERITUS DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rudolph D FrankRUDOLPH D FRANK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Russell P BrooksRUSSELL P BROOKS
IMMEDIATE PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Ryan L NewmanRYAN L NEWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas PalisinTHOMAS PALISIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Carl A MarraraCARL A MARRARA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tara MurrayTARA MURRAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Neal R LesherNEAL R LESHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Karen M MusanteKAREN M MUSANTE
PRESIDENT & CEO
- Total calculated
- $191,602
- From this org
- $170,566
- From related orgs
- $0
- Other
- $21,036
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,051
- Bonus
- $19,765
- Other
- $3,750
- Deferred
- $15,133
- Nontaxable benefits
- $5,903
- Filer's total
- $191,602
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 · Compensation committee
- 3 · Written employment contract
- 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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 19 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202641549349300019
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