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Nonprofiteer
← STUDENT SPONSOR PARTNERSHIP INC

Form 990 for tax year 2022

Filed by STUDENT SPONSOR PARTNERSHIP INC.

Totals

Total revenue
$9,399,138
Total expenses
$8,545,691
Contributions and grants received
$9,296,549
Grants paid
$4,689,345
Program service revenue
$0
Investment income
$420,458
Other revenue
-$317,869
Total assets, end of year
$26,288,524
Total liabilities, end of year
$200,851
Net assets or fund balances, end of year
$26,087,673
Program services expenses (Part IX)
$6,283,049
Management and general expenses
$1,152,990
Fundraising expenses
$1,109,652
Program service expenses (Part III)
$6,283,049

Program services were 73.5% 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

    $1,733,376

  • 1f · All other contributions, gifts and grants

    $7,563,173

  • 3 · Investment income

    total $425,907 · related or exempt $425,907

  • 7a · Gross sales of assets other than inventory

    securities $368,958

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

    securities $374,407

  • 7c · Gain or loss

    securities -$5,449

  • 7d · Net gain or loss

    total -$5,449 · related or exempt -$5,449

  • 8a · Fundraising events: gross income

    $0

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

    $1,733,376

  • 8b · Fundraising events: direct expenses

    $317,869

  • 8c · Net income from fundraising events

    total -$317,869 · excluded -$317,869

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,689,345 · program services $4,689,345

  • 7 · Other salaries and wages

    total $2,200,969 · program services $880,388 · management and general $638,281 · fundraising $682,300

  • 8 · Pension plan contributions

    total $62,628 · program services $25,051 · management and general $18,162 · fundraising $19,415

  • 9 · Other employee benefits

    total $142,439 · program services $56,976 · management and general $41,307 · fundraising $44,156

  • 10 · Payroll taxes

    total $155,081 · program services $62,032 · management and general $44,974 · fundraising $48,075

  • 11g · Fees: other

    total $250,949 · program services $169,369 · management and general $37,792 · fundraising $43,788

  • 13 · Office expenses

    total $46,377 · program services $10,901 · management and general $5,209 · fundraising $30,267

  • 14 · Information technology

    total $366,830 · program services $198,471 · management and general $55,655 · fundraising $112,704

  • 16 · Occupancy

    total $265,066 · program services $106,027 · management and general $76,869 · fundraising $82,170

  • 17 · Travel

    total $39,478 · program services $17,414 · management and general $3,914 · fundraising $18,150

  • 22 · Depreciation, depletion and amortization

    total $18,378 · program services $7,351 · management and general $5,330 · fundraising $5,697

  • 24a · Other expenses: BAD DEBTS

    total $211,247 · management and general $211,247

  • 24b · Other expenses: PAYROLL, BANK AND OTHER

    total $58,041 · program services $46,665 · management and general $4,782 · fundraising $6,594

  • 24c · Other expenses: OTHER

    total $38,863 · program services $13,059 · management and general $9,468 · fundraising $16,336

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,847,258 · end of year $9,105,385

  • 2 · Savings and temporary cash investments

    beginning of year $3,413,583 · end of year $3,257,830

  • 3 · Pledges and grants receivable

    beginning of year $9,274,885 · end of year $9,134,111

  • 9 · Prepaid expenses and deferred charges

    beginning of year $209,480 · end of year $248,757

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

    $195,814

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

    $154,165

  • 10c · Land, buildings and equipment, net

    beginning of year $60,027 · end of year $41,649

  • 11 · Investments: publicly traded securities

    beginning of year $3,298,642 · end of year $4,440,338

  • 15 · Other assets

    beginning of year $0 · end of year $60,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,239 · end of year $117,068

  • 25 · Other liabilities

    beginning of year $93,565 · end of year $83,783

  • 27 · Net assets without donor restrictions

    beginning of year $7,123,916 · end of year $6,475,340

  • 28 · Net assets with donor restrictions

    beginning of year $17,733,155 · end of year $19,612,333

Mission and programs · 2022

Mission

STUDENT/SPONSOR PARTNERS HARNESSES THE POWER OF QUALITY EDUCATION AND MENTORSHIP TO HELP LOW-INCOME AND ACADEMICALLY AVERAGE NEW YORK CITY YOUTH ESCAPE THE CYCLE OF POVERTY AND REACH THEIR HIGHEST POTENTIAL.

Activities or mission (Part I)

TO PROVIDE AT-RISK YOUTHS WITH TUITION NEEDED TO ATTEND PRIVATE HIGH SCHOOLS IN NYC

  • SSP'S MISSION IS TO PROVIDE ECONOMICALLY AND EDUCATIONALLY DISADVANTAGED STUDENTS ACCESS TO PRIVATE EDUCATION THROUGH FINANCIAL SCHOLARSHIPS PROVIDED BY A SPONSOR AND INDIVIDUAL MENTORING AND COACHING PROVIDED BY AN ADULT MENTOR. SSP FURTHER SUPPORTS OUR STUDENTS WITH COLLEGE READINESS PROGRAMS AND COLLEGE SCHOLARSHIPS. SSP HAS FINANCED AND GUIDED OVER 7,300 STUDENTS THROUGH HIGH SCHOOL. 1016 SSP STUDENTS COMPLETED THE 2022-2023 SCHOOL YEAR AND RECEIVED OVER $4.6 MILLION IN SCHOLARSHIPS FROM SSP TO ATTEND 23 PRIVATE AND PAROCHIAL SCHOOLS THROUGHOUT NEW YORK CITY. OUR MENTORS CONTRIBUTE OVER 10,000 HOURS EVERY YEAR TO DIRECTLY SUPPORT OUR STUDENTS.

    Expenses $6,283,049 · Grants $4,689,345

As filed on the 2022 return.

Listed in Part VII

  • Christopher J Niehaus

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Jim Healy

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kevin J Conway

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Robert H Niehaus

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Edward Cox

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Hoffman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrew Horrocks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Alfred F Hurley Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter J Lyon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Mercein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lora Robertson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephen M Schiller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Henry Mulholland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Megan Flanigan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Stossel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Huntington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Brennan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Dunne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aloysius McLaughlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Spencer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Valerie Ann Rowe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Linda Hsu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Drin Kukaj

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Levitt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christopher Miles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ricardo Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Debra Vizzi

    EXEC.DIR.

    Total calculated
    $551,188
    From this org
    $500,000
    From related orgs
    $0
    Other
    $51,188
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $400,000
    Bonus
    $100,000
    Other
    $0
    Deferred
    $24,000
    Nontaxable benefits
    $27,188
    Filer's total
    $551,188

  • Heather Turner

    CHIEF OF STAFF

    Total calculated
    $269,144
    From this org
    $250,000
    From related orgs
    $0
    Other
    $19,144
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $50,000
    Other
    $0
    Deferred
    $10,500
    Nontaxable benefits
    $8,644
    Filer's total
    $269,144

  • Mary Faddoul

    VP PROGRAMS

    Total calculated
    $181,144
    From this org
    $165,000
    From related orgs
    $0
    Other
    $16,144
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $15,000
    Other
    $0
    Deferred
    $7,500
    Nontaxable benefits
    $8,644
    Filer's total
    $181,144

  • Ravin Radigan

    MANAGER OF DEVELOPMENT

    Total calculated
    $111,300
    From this org
    $105,000
    From related orgs
    $0
    Other
    $6,300
    Hours/week
    50

  • Christine Lipp

    VP-FINANCE

    Total calculated
    $143,832
    From this org
    $141,040
    From related orgs
    $0
    Other
    $2,792
    Hours/week
    50

  • Shanna Mahl

    DIRECTOR OF ACADEMICS

    Total calculated
    $23,750
    From this org
    $23,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Margaret Buttery

    DIRECTOR OF EVENTS

    Total calculated
    $128,644
    From this org
    $120,000
    From related orgs
    $0
    Other
    $8,644
    Hours/week
    50

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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
2022
Filed
16 January 2024
IRS schema version
2022v5.0
Source object
202440169349301409

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