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Nonprofiteer
← THE PHILADELPHIA EDUCATION FUND

Form 990 for tax year 2024

Filed by THE PHILADELPHIA EDUCATION FUND.

Totals

Total revenue
$5,101,734
Total expenses
$5,061,594
Contributions and grants received
$3,326,536
Grants paid
$852,996
Program service revenue
$1,323,491
Investment income
$370,163
Other revenue
$81,544
Total assets, end of year
$14,350,614
Total liabilities, end of year
$884,065
Net assets or fund balances, end of year
$13,466,549
Program services expenses (Part IX)
$4,477,464
Management and general expenses
$435,193
Fundraising expenses
$148,937
Program service expenses (Part III)
$4,477,464

Program services were 88.5% 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.

  • 1c · Fundraising events

    $55,500

  • 1e · Government grants (contributions)

    $1,545,369

  • 1f · All other contributions, gifts and grants

    $1,725,667

  • 2a · Program service revenue: CONTRACT REVENUE

    total $1,323,491 · related or exempt $1,323,491

  • 3 · Investment income

    total $305,781 · excluded $305,781

  • 7a · Gross sales of assets other than inventory

    securities $333,500

  • 7b · Less cost or other basis and sales expenses

    securities $269,118

  • 7c · Gain or loss

    securities $64,382

  • 7d · Net gain or loss

    total $64,382 · excluded $64,382

  • 8a · Fundraising events: gross income

    $104,922

  • 8a · Fundraising events: contributions included on line 1c

    $55,500

  • 8b · Fundraising events: direct expenses

    $34,351

  • 8c · Net income from fundraising events

    total $70,571 · excluded $70,571

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $10,973 · related or exempt $10,973

  • 11e · Other revenue, total

    $10,973

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $852,996 · program services $852,996

  • 5 · Compensation of officers, directors and key employees

    total $333,368 · program services $233,357 · management and general $66,674 · fundraising $33,337

  • 7 · Other salaries and wages

    total $2,202,074 · program services $2,173,051 · management and general $7,020 · fundraising $22,003

  • 8 · Pension plan contributions

    total $62,606 · program services $57,825 · management and general $4,262 · fundraising $519

  • 9 · Other employee benefits

    total $115,199 · program services $106,665 · management and general $7,687 · fundraising $847

  • 10 · Payroll taxes

    total $214,024 · program services $193,263 · management and general $17,175 · fundraising $3,586

  • 11b · Fees: legal

    total $12,444 · management and general $12,444

  • 11c · Fees: accounting

    total $174,861 · program services $85,076 · management and general $65,942 · fundraising $23,843

  • 11g · Fees: other

    total $430,286 · program services $262,962 · management and general $112,440 · fundraising $54,884

  • 12 · Advertising and promotion

    total $16,808 · program services $16,673 · management and general $135

  • 13 · Office expenses

    total $63,484 · program services $58,020 · management and general $5,132 · fundraising $332

  • 14 · Information technology

    total $24,836 · program services $12,137 · management and general $9,327 · fundraising $3,372

  • 16 · Occupancy

    total $106,402 · program services $78,270 · management and general $27,202 · fundraising $930

  • 17 · Travel

    total $78,284 · program services $77,206 · management and general $1,051 · fundraising $27

  • 19 · Conferences, conventions and meetings

    total $107,735 · program services $82,768 · management and general $24,967

  • 22 · Depreciation, depletion and amortization

    total $20,566 · management and general $20,566

  • 23 · Insurance

    total $11,790 · program services $178 · management and general $11,610 · fundraising $2

  • 24a · Other expenses: HONORIA AND STIPENDS

    total $95,329 · program services $95,229 · management and general $100

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $84,980 · program services $72,329 · management and general $11,551 · fundraising $1,100

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $19,755 · program services $13,375 · management and general $6,229 · fundraising $151

  • 24d · Other expenses: TAXES

    total $250 · management and general $250

  • 24e · All other expenses

    total $33,517 · program services $6,084 · management and general $23,429 · fundraising $4,004

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $679,989 · end of year $295,451

  • 2 · Savings and temporary cash investments

    beginning of year $1,863,071 · end of year $1,312,516

  • 3 · Pledges and grants receivable

    beginning of year $1,277,669 · end of year $942

  • 4 · Accounts receivable

    beginning of year $122,129 · end of year $1,513,833

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,373 · end of year $42,046

  • 10a · Land, buildings and equipment: cost or other basis

    $449,112

  • 10b · Land, buildings and equipment: accumulated depreciation

    $439,825

  • 10c · Land, buildings and equipment, net

    beginning of year $25,255 · end of year $9,287

  • 11 · Investments: publicly traded securities

    beginning of year $9,778,138 · end of year $10,594,129

  • 15 · Other assets

    beginning of year $108,331 · end of year $582,410

  • 17 · Accounts payable and accrued expenses

    beginning of year $255,577 · end of year $142,240

  • 19 · Deferred revenue

    beginning of year $934,337 · end of year $167,508

  • 25 · Other liabilities

    beginning of year $94,004 · end of year $574,317

  • 27 · Net assets without donor restrictions

    beginning of year $1,234,004 · end of year $1,871,537

  • 28 · Net assets with donor restrictions

    beginning of year $11,347,033 · end of year $11,595,012

Mission and programs · 2024

Mission

THE MISSION OF THE PHILADELPHIA EDUCATION FUND (PEF) IS TO CREATE EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS BY PROVIDING RESOURCES AND EXPERTISE THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS. PEF FOCUSES ON PHILADELPHIA PUBLIC SCHOOL STUDENTS ATTENDING SCHOOLS WITH LOW GRADUATION, POSTSECONDARY PERSISTENCE, COLLEGE ENROLLMENT, AND COLLEGE COMPLETION RATES. PEF FULFILLS ITS MISSION BY EMBEDDING A COLLEGE AND CAREER GOING FRAMEWORK IN THE PHILADELPHIA PUBLIC SCHOOL SYSTEM; DELIVERING IN PERSON, SCHOOL BASED, AND VIRTUAL SUPPORTS; ALIGNING SECONDARY AND POSTSECONDARY INSTRUCTION; PROVIDING SCHOLARSHIP AID; AND SUPPORTING STUDENTS, EDUCATORS, DISTRICTS, AND COMMUNITIES

Activities or mission (Part I)

CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS.

  • DIRECT SERVICES TO STUDENTS: THE GOAL OF PEF'S DIRECT SERVICES TO STUDENTS IS TO CREATE PATHWAYS TO COLLEGE AND CAREER BY EQUIPPING PHILADELPHIA PUBLIC SCHOOL STUDENTS WITH THE GUIDANCE, PREPARATION, AND FINANCIAL RESOURCES NEEDED TO PURSUE POSTSECONDARY EDUCATION. DURING THE REPORTING PERIOD, PEF PROVIDED COLLEGE ADVISING, PREPARATORY WORKSHOPS, STANDARDIZED TEST PREPARATION, ACADEMIC ENRICHMENT, AND HANDS ON ASSISTANCE TO AN ESTIMATED 8,000-10,000 STUDENTS (ESTIMATE), IN PARTNERSHIP WITH THE SCHOOL DISTRICT OF PHILADELPHIA, HIGHER EDUCATION INSTITUTIONS, COMMUNITY ORGANIZATIONS, AND BUSINESSES.PEF'S SHORT TERM OBJECTIVE IS TO INCREASE STUDENTS' COLLEGE READINESS, ENROLLMENT, AND AFFORDABILITY; ITS LONG TERM OBJECTIVE IS TO IMPROVE POSTSECONDARY PERSISTENCE AND COMPLETION FOR STUDENTS FROM HISTORICALLY UNDER RESOURCED SCHOOLS. THROUGH THE PHILADELPHIA SCHOLARS PROGRAM, PEF STEWARDED AN ENDOWMENT THAT AWARDED LAST DOLLAR, GAP FILLING SCHOLARSHIPS TO MORE THAN 100 STUDENTS ANNUALLY AND SUPPORTED RECIPIENTS THROUGH WORKSHOPS, MENTORING, RESOURCE SHARING, AND ASSISTANCE ACCESSING LEVERAGED THIRD PARTY SCHOLARSHIPS. IN THE REPORTING YEAR, PEF DISTRIBUTED $625,000 IN SCHOLARSHIP AID, REDUCING FINANCIAL BARRIERS TO COLLEGE ENROLLMENT AND PERSISTENCE.

    Expenses $3,427,849 · Grants $719,067 · Revenue $1,334,464

  • TEACHING AND LEARNING:THROUGH ITS TEACHING AND LEARNING AND SCHOOL SERVICES PROGRAMMING, PEF SUPPORTS SCHOOLS, EDUCATORS, AND NONPROFIT PARTNERS IN BUILDING COLLEGE GOING, CAREER READY SCHOOL CULTURES. DURING THE YEAR, PEF PROVIDED PROFESSIONAL DEVELOPMENT, TECHNICAL ASSISTANCE, AND CAPACITY BUILDING SUPPORTS TO AN ESTIMATED 300-400 EDUCATORS AND SCHOOL STAFF.THE SHORT TERM OBJECTIVE OF THIS WORK IS TO STRENGTHEN EDUCATOR PRACTICE AND ALIGN INSTRUCTION WITH COLLEGE AND CAREER EXPECTATIONS; THE LONG TERM OBJECTIVE IS TO EMBED SUSTAINABLE COLLEGE AND CAREER GOING SYSTEMS WITHIN PHILADELPHIA PUBLIC SCHOOLS. BY STRENGTHENING TEACHING AND LEARNING ENVIRONMENTS, PEF MULTIPLIES THE IMPACT OF ITS DIRECT STUDENT SERVICES AND ADVANCES ITS CHARITABLE MISSION TO IMPROVE EDUCATIONAL OUTCOMES CITYWIDE.

    Expenses $1,049,615 · Grants $133,929

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Farah Jimenez

    PRESIDENT AND CEO

    Total calculated
    $222,404
    From this org
    $198,581
    From related orgs
    $0
    Other
    $23,823
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $198,581
    Bonus
    $0
    Other
    $0
    Deferred
    $8,080
    Nontaxable benefits
    $15,743
    Filer's total
    $222,404

  • Bryan Defoney

    VP OF PROGRAMS

    Total calculated
    $121,367
    From this org
    $116,200
    From related orgs
    $0
    Other
    $5,167
    Hours/week
    35

  • David Garbe

    DIRECTOR, MCKINNEY CENTER

    Total calculated
    $121,655
    From this org
    $116,400
    From related orgs
    $0
    Other
    $5,255
    Hours/week
    35

  • Asim Z Haque

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Joann Mitchell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Tom Ball

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Juliana Mosely-Williams

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Cheryl L Baxter

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Blaskey

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steven Bradley

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Valerie Brown

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Richard Corcoran

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ripley Dwyer

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Lorenz-Fisher

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Phillip Gabler

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John G Ginelli

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • La-Toya P Hackney

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brad Hodge

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alquon Hodges

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas Morrison

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pedro Rivera

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Shawn Samuel

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Margaret Steele

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Branden Sweetser

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Tombasco

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Tyler-Benns

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Greg Vernick

    MEMBER

    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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 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
14 May 2026
IRS schema version
2024v5.5
Source object
202601359349309460

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