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← CORE PHILLY CHARITABLE TR

Form 990 for tax year 2022

Filed by CORE PHILLY CHARITABLE TR.

Totals

Total revenue
$259,661
Total expenses
$253,803
Contributions and grants received
$0
Grants paid
$232,903
Program service revenue
$0
Investment income
$170,162
Other revenue
$89,499
Total assets, end of year
$4,657,824
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$4,657,824
Program services expenses (Part IX)
$243,353
Management and general expenses
$10,450
Fundraising expenses
$0
Program service expenses (Part III)
$243,353

Program services were 95.9% 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.

  • 3 · Investment income

    total $106,577 · excluded $106,577

  • 7a · Gross sales of assets other than inventory

    securities $928,377

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

    securities $864,792

  • 7c · Gain or loss

    securities $63,585

  • 7d · Net gain or loss

    total $63,585

  • 11a · Other revenue: PARTNERSHIP INCOME

    total $89,499 · unrelated business $2,509 · excluded $86,990

  • 11e · Other revenue, total

    $89,499

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $232,903 · program services $232,903

  • 5 · Compensation of officers, directors and key employees

    total $20,900 · program services $10,450 · management and general $10,450

  • 11f · Fees: investment management

    total $0 · management and general $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $251,958 · end of year $204,141

  • 11 · Investments: publicly traded securities

    beginning of year $3,531,064 · end of year $3,637,055

  • 12 · Investments: other securities

    beginning of year $868,944 · end of year $816,628

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,651,966 · end of year $4,657,824

Mission and programs · 2022

Mission

THE PURPOSE OF CORE PHILLY CHARITABLE TRUST IS TO RAISE FUNDS IN FORM OF AN ENDOWMENT FOR THE LONG-TERM SUPPORT OF A PROGRAM TO PROVIDE COLLEGE SCHOLARSHIPS TO GRADUATING, RESIDENT STUDENTS OF PHILADELPHIA PUBLIC, PAROCHIAL AND PRIVATE HIGH SCHOOLS. THE PROGRAM IS INTENDED TO BE BROAD BASED AND TO FOCUS UPON FUNDING WHICH MOST STUDENTS FACE, I.E. THE DEFICIENCY BETWEEN THE AGGREGATE EDUCATIONAL COSTS AND THE FUNDS WHICH ARE OTHERWISE AVAILABLE FROM THE STUDENT, HIS FAMILY AND INSTITUTIONAL AND GOVERNMENTAL PROGRAMS. THE PHILADELPHIA PUBLIC AND PAROCHIAL SCHOOLS AND ITS PRIVATE SCHOOLS CONTAIN A TREMENDOUS NUMBER OF STUDENTS OF LOWER MIDDLE INCOME FOR WHOM THIS FUND "GAP" EXISTS. THAT NEED WILL BE THE PRIMARY CRITERIA FOR THE AWARD OR SCHOLARSHIPS IN THE SCHOLARSHIP PROGRAM. THE TRUST ANTICIPATES ACCOMPLISHING ITS PURPOSE BY MAKING CONTRIBUTIONS TO PHILADELHIA COLLEGE OPPORTUNITY RESOURCES FOR EDUCATION ("CORE PHILLY"), WHICH IS AN EXEMPT PENNSYLVANIA NONPROFIT CORPORATION WHICH PRESENT

  • PHILA COLLEGE OPPORTUNITY

    Expenses $243,353 · Grants $232,903

As filed on the 2022 return.

Listed in Part VII

  • The Glenmede Trust Company Na

    TRUSTEE

    Total calculated
    $20,900
    From this org
    $20,900
    From related orgs
    $0
    Other
    $0

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202303149349303585

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