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Nonprofiteer
← PARTNERSHIP FOR ED ADVANCEMENT INC

Form 990 for tax year 2023

Filed by PARTNERSHIP FOR ED ADVANCEMENT INC.

Totals

Total revenue
$11,458,290
Total expenses
$20,222,000
Contributions and grants received
$11,338,922
Grants paid
$5,093,646
Program service revenue
$0
Investment income
$119,154
Other revenue
$214
Total assets, end of year
$32,272,540
Total liabilities, end of year
$2,434,792
Net assets or fund balances, end of year
$29,837,748
Program services expenses (Part IX)
$18,713,536
Management and general expenses
$1,027,120
Fundraising expenses
$481,344
Program service expenses (Part III)
$18,713,536

Program services were 92.5% 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.

  • 1f · All other contributions, gifts and grants

    $11,338,922

  • 3 · Investment income

    total $119,154 · excluded $119,154

  • 7a · Gross sales of assets other than inventory

    securities $622,000

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

    securities $622,000

  • 7c · Gain or loss

    securities $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $214 · excluded $214

  • 11e · Other revenue, total

    $214

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,093,646 · program services $5,093,646

  • 5 · Compensation of officers, directors and key employees

    total $768,743 · program services $398,811 · management and general $256,580 · fundraising $113,352

  • 7 · Other salaries and wages

    total $3,834,742 · program services $3,225,357 · management and general $395,643 · fundraising $213,742

  • 9 · Other employee benefits

    total $310,877 · program services $251,140 · management and general $41,608 · fundraising $18,129

  • 10 · Payroll taxes

    total $353,527 · program services $278,780 · management and general $49,912 · fundraising $24,835

  • 11b · Fees: legal

    total $26,670 · management and general $26,670

  • 11c · Fees: accounting

    total $77,087 · program services $60,899 · management and general $10,792 · fundraising $5,396

  • 11f · Fees: investment management

    total $2,360 · management and general $2,360

  • 11g · Fees: other

    total $9,112,343 · program services $8,922,819 · management and general $126,350 · fundraising $63,174

  • 12 · Advertising and promotion

    total $19,061 · program services $15,058 · management and general $2,669 · fundraising $1,334

  • 13 · Office expenses

    total $39,749 · program services $31,402 · management and general $5,565 · fundraising $2,782

  • 14 · Information technology

    total $155,965 · program services $123,212 · management and general $21,835 · fundraising $10,918

  • 16 · Occupancy

    total $87,852 · program services $69,403 · management and general $12,299 · fundraising $6,150

  • 17 · Travel

    total $284,649 · program services $224,873 · management and general $39,851 · fundraising $19,925

  • 22 · Depreciation, depletion and amortization

    total $7,801 · management and general $7,801

  • 23 · Insurance

    total $3,607 · program services $2,850 · management and general $505 · fundraising $252

  • 24a · Other expenses: PROFESSIONAL DEVELOPMEN

    total $22,927 · management and general $22,927

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $9,656 · program services $7,628 · management and general $1,352 · fundraising $676

  • 24c · Other expenses: FILING, REGISTRATION FE

    total $8,837 · program services $6,981 · management and general $1,237 · fundraising $619

  • 24d · Other expenses: BAD DEBT

    total $1,044 · management and general $1,044

  • 24e · All other expenses

    total $857 · program services $677 · management and general $120 · fundraising $60

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,321,815 · end of year $1,615,122

  • 2 · Savings and temporary cash investments

    beginning of year $27,259,210 · end of year $4,422,252

  • 3 · Pledges and grants receivable

    beginning of year $13,691,914 · end of year $387,320

  • 4 · Accounts receivable

    beginning of year $1,008

  • 9 · Prepaid expenses and deferred charges

    beginning of year $30,769 · end of year $553,360

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

    $29,005

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

    $15,084

  • 10c · Land, buildings and equipment, net

    beginning of year $16,411 · end of year $13,921

  • 11 · Investments: publicly traded securities

    end of year $25,097,124

  • 15 · Other assets

    beginning of year $266,280 · end of year $183,441

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,062,826 · end of year $1,021,254

  • 18 · Grants payable

    beginning of year $976,478 · end of year $1,226,024

  • 25 · Other liabilities

    beginning of year $268,916 · end of year $187,514

  • 27 · Net assets without donor restrictions

    beginning of year -$861,447 · end of year $15,479,422

  • 28 · Net assets with donor restrictions

    beginning of year $39,140,634 · end of year $14,358,326

Mission and programs · 2023

Mission

THE MISSION OF PARTNERSHIP FOR EDUCATION ADVANCEMENT IS TO SUPPORT SOCIAL MOBILITY THROUGH STRENGTHENING OF MISSION-FOCUSED COLLEGES AND UNIVERSITIES THAT PRIMARLY SERVE STUDENTS OF COLOR AS WELL AS FIRST-GENERATION, AND LOW INCOME STUDENTS.

Activities or mission (Part I)

THE PARTNERSHIP FOR EDUCATION ADVANCEMENT IS A 501(C)(3) NOT-FOR-PROFIT ORGANIZATION COMMITTED TO SUPPORTING SOCIAL MOBILITY THROUGH STRENGTHENING OF MISSION-FOCUSED COLLEGES AND UNIVERSITIES THAT PRIMARILY SERVE LOW-INCOME, FIRST-GENERATION, AND UNDER-RESOURCED STUDENTS AND FAMILIES. WE ARE DEDICATED TO THE FOLLOWING PRINCIPLES AS WE CARRY OUT OUR MISSION:- OUR RESOURCES AND INVESTMENTS ALIGN WITH STUDENTS' FUTURE SUCCESS IN EVIDENT AND MEASURABLE WAYS.- WE MUST ACKNOWLEDGE AND UPHOLD THE CAPACITY OF MINORITY SERVING INSTITUTIONS, INCLUDING HBCUS, TO LEAD EQUITY EFFORTS.- TRANSFORMATION REQUIRES SOLUTIONS THAT ARE SUSTAINABLE, SCALABLE, AND BROADLY ADOPTABLE

  • HBCU TRANSFORMATION DEEP SUPPORT FOR SCHOOLS WITHIN THE HBCU NETWORK TO IMPROVE ENROLLMENT,RETENTION, AND GRADUATION RATES.

    Expenses $17,681,788 · Grants $4,389,716

  • HBCU DXPILOT INITIATIVE TO PROVIDE TECHNOLOGY-ENABLED SOLUTION TO IMPROVE DELIVERY OF ADVISING SUPPORT TO STUDENTS ATTENDING COLLEGE.

    Expenses $614,399 · Grants $511,830

  • ACADEMIC NAVIGATION PLOTPILOT INITIATIVE TO PROVIDE TECHNOLOGY-ENABLED SOLUTION TO IMPROVE COURSE AND CREDIT NAVIGATION TO OPTIMIZE TIME TO DEGREE FOR STUDENTS AT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES.

    Expenses $417,349 · Grants $192,100

As filed on the 2023 return.

Listed in Part VII

  • HAMILTON JAMES

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • JAMES RUNCIE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $283,499
    From this org
    $266,062
    From related orgs
    $0
    Other
    $17,437
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,062
    Bonus
    $0
    Other
    $0
    Deferred
    $14,175
    Nontaxable benefits
    $3,262
    Filer's total
    $283,499

  • GARRETT MORAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VERDUN PERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BERYL MCEWEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ARNE DUNCAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM LEITH

    MANAGING DIRECTOR

    Total calculated
    $283,500
    From this org
    $283,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $283,500

  • NARA LEE

    SENIOR FINANCIAL MANAGER

    Total calculated
    $201,742
    From this org
    $197,509
    From related orgs
    $0
    Other
    $4,233
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,509
    Bonus
    $0
    Other
    $0
    Deferred
    $4,034
    Nontaxable benefits
    $199
    Filer's total
    $201,742

  • ZINA EVANS

    SVP ENROLLMENT MANAGEMENT

    Total calculated
    $357,000
    From this org
    $332,480
    From related orgs
    $0
    Other
    $24,520
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $332,480
    Bonus
    $0
    Other
    $0
    Deferred
    $23,306
    Nontaxable benefits
    $1,214
    Filer's total
    $357,000

  • ROBIN MINOR

    SVP INSTITUTIONAL PARTNERS

    Total calculated
    $283,500
    From this org
    $255,150
    From related orgs
    $0
    Other
    $28,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,150
    Bonus
    $0
    Other
    $0
    Deferred
    $28,350
    Nontaxable benefits
    $0
    Filer's total
    $283,500

  • WAYNE CUMMINGS

    SVP CHIEF TECHNOLOGY OFFICER

    Total calculated
    $267,500
    From this org
    $237,157
    From related orgs
    $0
    Other
    $30,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,157
    Bonus
    $0
    Other
    $0
    Deferred
    $26,750
    Nontaxable benefits
    $3,593
    Filer's total
    $267,500

  • ANNE ELIZABETH REZNIK

    CHIEF OF STAFF

    Total calculated
    $234,600
    From this org
    $209,050
    From related orgs
    $0
    Other
    $25,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,050
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $3,050
    Filer's total
    $234,600

  • CECILIA LOUISE MARSHALL

    DIRECTOR OF EXTERNAL PARTNERSHIPS

    Total calculated
    $198,000
    From this org
    $171,741
    From related orgs
    $0
    Other
    $26,259
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,741
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $3,759
    Filer's total
    $198,000

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 · 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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443209349305564

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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