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← DREXEL FOUNDATION FOR EDUCATIONAL EXCELLENCE INC

Form 990 for tax year 2024

Filed by DREXEL FOUNDATION FOR EDUCATIONAL EXCELLENCE INC.

Totals

Total revenue
$18,709,139
Total expenses
$14,803,411
Contributions and grants received
$18,402,943
Grants paid
$0
Program service revenue
$112,932
Investment income
$161,552
Other revenue
$31,712
Total assets, end of year
$27,454,264
Total liabilities, end of year
$16,763,912
Net assets or fund balances, end of year
$10,690,352
Program services expenses (Part IX)
$13,430,677
Management and general expenses
$1,372,734
Fundraising expenses
$0
Program service expenses (Part III)
$13,430,677

Program services were 90.7% 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)

    $18,376,871

  • 1f · All other contributions, gifts and grants

    $26,072

  • 2a · Program service revenue: STUDENT FEES

    total $112,932 · related or exempt $112,932

  • 3 · Investment income

    total $161,552 · excluded $161,552

  • 11a · Other revenue: MISCELLANEOUS

    total $31,712 · related or exempt $31,712

  • 11e · Other revenue, total

    $31,712

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $171,747 · program services $158,992 · management and general $12,755

  • 7 · Other salaries and wages

    total $6,209,369 · program services $5,748,205 · management and general $461,164

  • 8 · Pension plan contributions

    total $416,859 · program services $385,899 · management and general $30,960

  • 9 · Other employee benefits

    total $784,703 · program services $726,424 · management and general $58,279

  • 10 · Payroll taxes

    total $522,675 · program services $483,856 · management and general $38,819

  • 11a · Fees: management

    total $193,526 · management and general $193,526

  • 11b · Fees: legal

    total $85,701 · management and general $85,701

  • 11c · Fees: accounting

    total $183,460 · management and general $183,460

  • 11g · Fees: other

    total $471,476 · program services $342,355 · management and general $129,121

  • 12 · Advertising and promotion

    total $22,185 · management and general $22,185

  • 13 · Office expenses

    total $1,177,740 · program services $1,177,740

  • 14 · Information technology

    total $497,403 · program services $497,403

  • 16 · Occupancy

    total $1,191,287 · program services $1,191,287

  • 20 · Interest

    total $991,293 · program services $991,293

  • 22 · Depreciation, depletion and amortization

    total $764,459 · program services $764,459

  • 23 · Insurance

    total $129,782 · management and general $129,782

  • 24a · Other expenses: FOOD SERVICES EXPENSES

    total $666,128 · program services $666,128

  • 24b · Other expenses: TRANSPORTATION

    total $166,541 · program services $162,368 · management and general $4,173

  • 24c · Other expenses: STAFF DEVELOPMENT

    total $75,230 · program services $59,192 · management and general $16,038

  • 24d · Other expenses: EXTRA-CURRICULAR ACTIVI

    total $75,076 · program services $75,076

  • 24e · All other expenses

    total $6,771 · management and general $6,771

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $827,768 · end of year $351,322

  • 2 · Savings and temporary cash investments

    beginning of year $5,991,425 · end of year $2,314,435

  • 3 · Pledges and grants receivable

    beginning of year $1,344,238 · end of year $2,971,021

  • 9 · Prepaid expenses and deferred charges

    beginning of year $47,361 · end of year $22,893

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

    $34,026,869

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

    $13,552,022

  • 10c · Land, buildings and equipment, net

    beginning of year $13,952,171 · end of year $20,474,847

  • 15 · Other assets

    beginning of year $1,428,691 · end of year $1,319,746

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,354,015 · end of year $1,359,453

  • 20 · Tax-exempt bond liabilities

    beginning of year $15,571,076 · end of year $15,392,955

  • 25 · Other liabilities

    beginning of year $56,519 · end of year $11,504

  • 27 · Net assets without donor restrictions

    beginning of year $6,610,044 · end of year $10,690,352

Mission and programs · 2024

Mission

CHARTER SCHOOL FOR THE PROMOTION OF ACADEMIC EXCELLENCE.

  • THE SCHOOL SERVED APPROXIMATELY 770 AND 850 STUDENTS DURING THE 2024-2025 AND 2023-2024 SCHOOL YEARS, RESPECTIVELY.

    Expenses $13,430,677 · Revenue $144,644

As filed on the 2024 return.

Listed in Part VII

  • EVE GOMEZ

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • JASON BERES

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • MICHELLE DICKERSON

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • CEDRIC STEELE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MARISA SIMMONS

    PRINCIPAL

    Total calculated
    $183,334
    From this org
    $155,804
    From related orgs
    $0
    Other
    $27,530
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,804
    Bonus
    $0
    Other
    $0
    Deferred
    $9,348
    Nontaxable benefits
    $18,182
    Filer's total
    $183,334

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 · Written employment contract
  • 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
8 May 2026
IRS schema version
2024v5.5
Source object
202621289349302342

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