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← FUND FOR EDUCATIONAL EXCELLENCE INC

Form 990 for tax year 2024

Filed by FUND FOR EDUCATIONAL EXCELLENCE INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2024 , filed 6 March 2026. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$30,673,408
Total expenses
$27,887,178
Contributions and grants received
$27,255,636
Grants paid
$6,044,945
Program service revenue
$2,410,970
Investment income
$1,006,802
Other revenue
$0
Total assets, end of year
$35,054,202
Total liabilities, end of year
$4,216,608
Net assets or fund balances, end of year
$30,837,594
Program services expenses (Part IX)
$24,814,171
Management and general expenses
$2,209,673
Fundraising expenses
$863,334
Program service expenses (Part III)
$24,814,171

Program services were 89.0% 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.

  • 1e · Government grants (contributions)

    $1,788,025

  • 1f · All other contributions, gifts and grants

    $25,467,611

  • 1g · Noncash contributions included above

    $5,897

  • 2a · Program service revenue: REVENUE FROM CONTRACTS

    total $2,410,970 · related or exempt $2,410,970

  • 3 · Investment income

    total $1,006,802 · excluded $1,006,802

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,044,945 · program services $6,044,945

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $785,965 · program services $102,550 · management and general $437,520 · fundraising $245,895

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $5,781,563 · program services $4,419,349 · management and general $959,104 · fundraising $403,110

  • 8 · Pension plan contributions

    total $158,068 · program services $98,490 · management and general $38,547 · fundraising $21,031

  • 9 · Other employee benefits

    total $831,855 · program services $721,889 · management and general $61,971 · fundraising $47,995

  • 10 · Payroll taxes

    total $475,791 · program services $335,808 · management and general $97,207 · fundraising $42,776

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $129,077 · program services $87,077 · management and general $42,000

  • 11c · Fees: accounting

    total $42,845 · program services $10,844 · management and general $32,001

  • 11d · Fees: lobbying

    total $33,200 · program services $33,200

  • 11e · Fees: professional fundraising services

    total $15,000 · fundraising $15,000

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $9,087,536 · program services $8,851,238 · management and general $198,340 · fundraising $37,958

  • 12 · Advertising and promotion

    total $2,211 · program services $2,086 · management and general $125

  • 13 · Office expenses

    total $117,091 · program services $87,877 · management and general $19,366 · fundraising $9,848

  • 14 · Information technology

    total $7,073 · program services $7,073

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $229,261 · program services $185,135 · management and general $31,695 · fundraising $12,431

  • 17 · Travel

    total $1,488,538 · program services $1,467,100 · management and general $21,007 · fundraising $431

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $136,196 · management and general $136,196

  • 23 · Insurance

    total $0

  • 24a · Other expenses: SUPPLIES

    total $889,134 · program services $880,225 · management and general $6,196 · fundraising $2,713

  • 24b · Other expenses: MEALS

    total $591,701 · program services $544,569 · management and general $36,734 · fundraising $10,398

  • 24c · Other expenses: TRAINING AND EDUCATION

    total $553,996 · program services $542,365 · management and general $11,094 · fundraising $537

  • 24d · Other expenses: PRINTING AND PUBLICATIONS

    total $354,936 · program services $315,643 · management and general $31,205 · fundraising $8,088

  • 24e · All other expenses

    total $131,196 · program services $76,708 · management and general $49,365 · fundraising $5,123

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $243,524 · end of year $284,827

  • 2 · Savings and temporary cash investments

    beginning of year $21,811,470 · end of year $20,104,540

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $7,815,514 · end of year $13,434,780

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,361 · end of year $100,802

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

    $335,893

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

    $313,628

  • 10c · Land, buildings and equipment, net

    beginning of year $36,473 · end of year $22,265

  • 11 · Investments: publicly traded securities

    beginning of year $627,268 · end of year $705,604

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $129,916 · end of year $18,983

  • 15 · Other assets

    beginning of year $504,917 · end of year $382,401

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,113,649 · end of year $1,774,293

  • 18 · Grants payable

    beginning of year $405,078 · end of year $1,519,613

  • 24 · Unsecured notes and loans payable

    beginning of year $255,564

  • 25 · Other liabilities

    beginning of year $511,123 · end of year $922,702

  • 27 · Net assets without donor restrictions

    beginning of year $5,385,438 · end of year $6,298,997

  • 28 · Net assets with donor restrictions

    beginning of year $22,587,591 · end of year $24,538,597

Mission and programs · 2024

Mission

WE EXPAND RESOURCES, IDENTIFY AND ACCELERATE SOLUTIONS, AND RECOGNIZE EXCELLENCE SO THAT ALL CHILDREN IN BALTIMORE CITY PUBLIC SCHOOLS EXPERIENCE AN EFFECTIVE AND ADEQUATE EDUCATION.

Activities or mission (Part I)

THE FUND FOR EDUCATIONAL EXCELLENCE EXPANDS RESOURCES, INDENTIFIES AND ACCELERATES SOLUTIONS, AND RECOGNIZES EXCELLENCE SO THAT ALL CHILDREN IN BALTIMORE CITY PUBLIC SCHOOLS EXPERIENCE AN EFFECTIVE AND EQUITABLE EDUCATION.

  • FISCAL SPONSORSHIP - The Fund provides high-level financial and grant management expertise to a range of mission-aligned local regional nonprofit organizations and community programs. As a fiscal sponsor, we support our clients financial and human resource operations, including detailed budget management and financial reporting services, allowing organizations to focus on their programmatic goals which often include developing innovative educational reforms and expanding student access to high-quality education.

    Expenses $16,116,412 · Grants $5,380,125 · Revenue $2,015,030

  • DISTRICT FUNDRAISING - The Fund works closely with Baltimore City Public Schools to raise and secure external investment that supports the districts highest priority needs. As a trusted partner, we help identify those needs, target potential funding sources, and provide fiscal management for those philanthropic investments. We are currently managing grant funding raised on behalf of the school district from both local and national funders.

    Expenses $7,100,900 · Grants $526,524 · Revenue $93,604

  • ACCELERATE SOLUTIONS - With community input, The Fund identifies challenges, researches and develops recommendations, and pushes for innovative solutions to improve Baltimore City Public Schools policies, processes, and programs. We regularly publish reports that combine strong analytics with community input to address some of the most pressing problems facing our students, we provide on-demand workshops to help students and families navigate the districts school choice process for middle and high school, we partner with Baltimore City Public Schools Office of Early Learning and local providers to expand Pre-K options to 3- and 4-year olds, and run an early-childhood development program that provides parents of pre-school age children with effective parenting strategies for behavioral management and skills to support their childrens academic success.

    Expenses $1,192,458 · Revenue $299,783

  • RECOGNIZE EXCELLENCE - The Fund manages the Heart of the Schools, a year-round program that celebrates and supports Baltimore City Public School principals through grants, recognition, and events for their hard work, dedication, and positive impact on Baltimores students and communities. Created in 2016 in collaboration with local businesses, foundations, individuals, and nonprofits, the Heart of the Schools shows principals that they are appreciated, supported, and celebrated by all of Baltimore.

    Expenses $404,401 · Grants $138,296 · Revenue $10,403

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

Listed in Part VII

  • Roger Schulman

    President & CEO

    Total calculated
    $320,998
    From this org
    $298,010
    From related orgs
    $0
    Other
    $22,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $271,100
    Bonus
    $26,910
    Other
    not reported
    Deferred
    $10,971
    Nontaxable benefits
    $12,017
    Filer's total
    $320,998

  • Julia Baez

    CEO, BALT PROMISE

    Total calculated
    $242,875
    From this org
    $222,664
    From related orgs
    $0
    Other
    $20,211
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,164
    Bonus
    $1,500
    Other
    not reported
    Deferred
    $8,194
    Nontaxable benefits
    $12,017
    Filer's total
    $242,875

  • Chuck Adkins

    CFO

    Total calculated
    $238,717
    From this org
    $228,721
    From related orgs
    $0
    Other
    $9,996
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,721
    Bonus
    $21,000
    Other
    not reported
    Deferred
    $8,469
    Nontaxable benefits
    $1,527
    Filer's total
    $238,717

  • Bridget Blount

    DEP CEO - BP

    Total calculated
    $194,371
    From this org
    $178,318
    From related orgs
    $0
    Other
    $16,053
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,818
    Bonus
    $1,500
    Other
    not reported
    Deferred
    $7,105
    Nontaxable benefits
    $8,948
    Filer's total
    $194,371

  • Kevin Leary

    SR. PRGM DIR

    Total calculated
    $180,584
    From this org
    $161,599
    From related orgs
    $0
    Other
    $18,985
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,099
    Bonus
    $16,500
    Other
    not reported
    Deferred
    $5,971
    Nontaxable benefits
    $13,014
    Filer's total
    $180,584

  • Corrie Schoenberg

    SR PRGM DIR

    Total calculated
    $173,968
    From this org
    $150,490
    From related orgs
    $0
    Other
    $23,478
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,990
    Bonus
    $14,500
    Other
    not reported
    Deferred
    $6,398
    Nontaxable benefits
    $17,080
    Filer's total
    $173,968

  • Wendy Samet

    EX DIR - MIDDL GRD

    Total calculated
    $172,502
    From this org
    $163,946
    From related orgs
    $0
    Other
    $8,556
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,946
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,972
    Nontaxable benefits
    $2,584
    Filer's total
    $172,502

  • Sharon Dondes

    SR PRGM DIR.

    Total calculated
    $164,495
    From this org
    $138,586
    From related orgs
    $0
    Other
    $25,909
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,086
    Bonus
    $12,500
    Other
    not reported
    Deferred
    $5,507
    Nontaxable benefits
    $20,402
    Filer's total
    $164,495

  • Mark Bell

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ronald Jarrett

    Director

    Total calculated
    $0
    Hours/week
    1

  • Marguerite Mugge

    Director

    Total calculated
    $0
    Hours/week
    1

  • Beth Felder

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ilene Berman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Russell Moore

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Cinda Hughes CFA

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Maxine Wood

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jill Feinberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melanie Hood-Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michele Hong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Jordan-Howard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sara Milstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Justin A Redd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Arun Subhas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Neill Thupari

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vanessa Douyon

    DIRECTOR

    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 · Independent compensation consultant
  • 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

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

Provenance

Return type
form_990
Tax year
2024
Filed
24 February 2026
IRS schema version
2024v5.2
Source object
202630559349300908

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