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Nonprofiteer
← THE PITTSBURGH PROMISE FOUNDATION

Form 990 for tax year 2023

Filed by THE PITTSBURGH PROMISE FOUNDATION.

Totals

Total revenue
$6,272,260
Total expenses
$11,570,982
Contributions and grants received
$3,056,278
Grants paid
$7,340,727
Program service revenue
$0
Investment income
$3,215,982
Other revenue
$0
Total assets, end of year
$59,110,555
Total liabilities, end of year
$332,400
Net assets or fund balances, end of year
$58,778,155
Program services expenses (Part IX)
$10,099,010
Management and general expenses
$326,151
Fundraising expenses
$1,145,821
Program service expenses (Part III)
$10,099,010

Program services were 87.3% 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.

  • 1a · Federated campaigns

    $37,479

  • 1d · Related organizations

    $1,029,938

  • 1f · All other contributions, gifts and grants

    $1,988,861

  • 1g · Noncash contributions included above

    $2,502

  • 3 · Investment income

    total $1,356,805 · excluded $1,356,805

  • 7a · Gross sales of assets other than inventory

    securities $13,248,467

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

    securities $11,389,290

  • 7c · Gain or loss

    securities $1,859,177

  • 7d · Net gain or loss

    total $1,859,177 · excluded $1,859,177

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,340,727 · program services $7,340,727

  • 5 · Compensation of officers, directors and key employees

    total $316,556 · program services $63,311 · management and general $94,967 · fundraising $158,278

  • 7 · Other salaries and wages

    total $1,664,742 · program services $1,242,072 · management and general $44,861 · fundraising $377,809

  • 8 · Pension plan contributions

    total $90,004 · program services $67,603 · management and general $2,200 · fundraising $20,201

  • 9 · Other employee benefits

    total $278,989 · program services $197,009 · management and general $13,091 · fundraising $68,889

  • 10 · Payroll taxes

    total $146,161 · program services $97,635 · management and general $9,647 · fundraising $38,879

  • 11b · Fees: legal

    total $49,324 · program services $32,949 · management and general $3,255 · fundraising $13,120

  • 11c · Fees: accounting

    total $33,150 · program services $22,144 · management and general $2,188 · fundraising $8,818

  • 11d · Fees: lobbying

    total $17,700 · program services $17,700

  • 11e · Fees: professional fundraising services

    total $105,564 · fundraising $105,564

  • 11f · Fees: investment management

    total $137,099 · program services $68,549 · management and general $68,550

  • 11g · Fees: other

    total $137,463 · program services $91,825 · management and general $9,073 · fundraising $36,565

  • 12 · Advertising and promotion

    total $85,693 · program services $57,243 · management and general $5,656 · fundraising $22,794

  • 13 · Office expenses

    total $101,256 · program services $69,644 · management and general $6,284 · fundraising $25,328

  • 14 · Information technology

    total $522,470 · program services $349,010 · management and general $34,483 · fundraising $138,977

  • 16 · Occupancy

    total $81,576 · program services $54,493 · management and general $5,384 · fundraising $21,699

  • 17 · Travel

    total $12,822 · program services $8,565 · management and general $846 · fundraising $3,411

  • 19 · Conferences, conventions and meetings

    total $133,662 · program services $89,286 · management and general $8,822 · fundraising $35,554

  • 22 · Depreciation, depletion and amortization

    total $28,105 · program services $18,774 · management and general $1,855 · fundraising $7,476

  • 23 · Insurance

    total $26,308 · program services $17,574 · management and general $1,736 · fundraising $6,998

  • 24a · Other expenses: SHARED SERVICE FEE

    total $157,500 · program services $105,210 · management and general $10,395 · fundraising $41,895

  • 24b · Other expenses: STUDENT EVENTS

    total $61,503 · program services $58,757 · fundraising $2,746

  • 24c · Other expenses: DUES/SUBSCRIPTIONS

    total $26,829 · program services $18,389 · management and general $1,817 · fundraising $6,623

  • 24d · Other expenses: PROF DEV

    total $15,779 · program services $10,541 · management and general $1,041 · fundraising $4,197

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,865,215 · end of year $351,739

  • 2 · Savings and temporary cash investments

    beginning of year $2,288,232 · end of year $3,495,348

  • 3 · Pledges and grants receivable

    beginning of year $6,393,301 · end of year $4,127,173

  • 4 · Accounts receivable

    beginning of year $78,007 · end of year $77,565

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,874 · end of year $51,083

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

    $653,672

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

    $618,322

  • 10c · Land, buildings and equipment, net

    beginning of year $437,441 · end of year $35,350

  • 11 · Investments: publicly traded securities

    beginning of year $48,740,992 · end of year $50,972,297

  • 17 · Accounts payable and accrued expenses

    beginning of year $52,152 · end of year $54,463

  • 18 · Grants payable

    beginning of year $146,600 · end of year $191,016

  • 25 · Other liabilities

    beginning of year $76,819 · end of year $86,921

  • 27 · Net assets without donor restrictions

    beginning of year $54,362,268 · end of year $53,978,679

  • 28 · Net assets with donor restrictions

    beginning of year $7,171,223 · end of year $4,799,476

Mission and programs · 2023

Mission

THE PITTSBURGH PROMISE PROMOTES HIGH EDUCATIONAL ASPIRATIONS AMONG URBAN YOUTH, FUNDS SCHOLARSHIPS FOR POST-SECONDARY ACCESS, AND FUELS A PREPARED AND DIVERSE REGIONAL WORKFORCE.

Activities or mission (Part I)

**SEE SCHEDULE O**THE PITTSBURGH PROMISE PROMOTES HIGH EDUCATIONAL ASPIRATIONS AMONG URBAN YOUTH, FUNDS SCHOLARSHIPS FOR POST-SECONDARY ACCESS, AND FUELS A PREPARED AND DIVERSE REGIONAL WORKFORCE.

  • THE PITTSBURGH PROMISE WAS LAUNCHED IN 2007 WITH A $100 MILLION COMMITMENT BY THE UNIVERSITY OF PITTSBURGH MEDICAL CENTER (UPMC). UPMC'S COMMITMENT INCLUDED AN INITIAL $10 MILLION CONTRIBUTION AND THE REMAINING $90 MILLION WAS A CHALLENGE GRANT INTENDED TO SPUR A COMMUNITY-WIDE CAMPAIGN TO RAISE AN ADDITIONAL $150 MILLION FROM OTHER PRIVATE SOURCES, INCLUDING FOUNDATIONS, CORPORATIONS, AND INDIVIDUALS. OUR MISSION: THE PITTSBURGH PROMISE PROMOTES HIGH EDUCATIONAL ASPIRATIONS AMONG URBAN YOUTH, FUNDS SCHOLARSHIPS FOR POST-SECONDARY ACCESS, AND FUELS A PREPARED AND DIVERSE REGIONAL WORKFORCE. SEE CONTINUATION ON SCHEDULE OOUR VISION: WE ENVISION A FUTURE WHERE ALL OUR URBAN YOUTH ARE EQUIPPED TO REACH POST-SECONDARY SUCCESS, OUR PUBLIC SCHOOLS SERVE ALL CHILDREN EXCELLENTLY, OUR CITY IS FLOURISHING IN ALL ITS NEIGHBORHOODS, AND OUR WORKFORCE IS WIDELY DIVERSE AND HIGHLY SKILLED TO ADVANCE A REGION THAT IS GOOD AND JUST FOR ALL. OUR GUIDING PRINCIPLES: -EQUITY AND INCLUSION: WE ARE COMMITTED TO EDUCATIONAL, ECONOMINC, RACIAL, SOCIAL, AND CULTURAL EQUITY AND INCLUSION. -EXCELLENCE: WE CONDUCT OUR WORK WITH URGENCY, STEWARD OUR RESOURCES PRUDENTLY, AND APPLY THE HIGHEST STANDARDS OF PROFESSIONALISM. -INTEGRITY: WE DEMONSTRATE ACCOUNTABILITY TO OUR STUDENTS, FAMILIES, AND COMMUNITY PARTNERS BY PERFORMING OUR WORK WITH TRANSPARENCY, DISCIPLINE, AND COMPASSION. -IMPACT: WE REGULARLY EVALUATE OUR IMPACT AND USE DATA AND RESEARCH TO GUIDE OUR DECISION-MAKING. -COMMITMENT: WE ARE DRIVEN BY A PASSION FOR OUR VISION AND MISSION AND A BELIEF THAT OUR WORK STRENGTHENS THE REGION, INSPIRES SYSTEMIC CHANGE, AND TRANSFORMS LIVES. THE PITTSBURGH PROMISE CONDUCTS OUTREACH IN ALL PITTSBURGH PUBLIC HIGH SCHOOLS AND ITS CHARTERS IN AN EFFORT TO CULTIVATE RELATIONSHIPS AND PROMOTE ACHIEVEMENT. IN ADDITION, THEY DEPLOY PROMISE COACHES IN FOUR HIGH SCHOOLS TO PROMOTE PROMISE USAGE AND POST-SECONDARY PLANNING: PERRY, CARRICK, UPREP/MILLIONES AND WESTHINGHOUSE HIGH SCHOOLS. IN CONJUNCTION WITH THE COACHING INITIATIVE, THE PROMISE HOLDS COLLEGE AND CAREER EXPOSURE EVENTS FOR STUDENTS IN THESE SCHOOLS. AS OF JUNE 2024, THE PITTSBURGH PROMISE'S RESULTS INCLUDE THE FOLLOWING: -MORE THAN 11,950 STUDENTS RECEIVED $176 MILLION IN PROMISE SCHOLARSHIPS; -THEY ATTENDED 151 POST-SECONDARY INSTITUTIONS ACROSS PENNSYLVANIA; -MORE THAN 4,320 STUDENTS GRADUATED WITH A POST-SECONDARY DEGREE OR CERTIFICATION -PROMISE ALUMNI ARE WORKING AND CONTRIBUTING TO MORE THAN 700 ORGANIZATIONS IN OUR REGION.

    Expenses $10,099,010 · Grants $7,340,727

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Elisabeth Schroeder

    DIRECTOR

    Total calculated
    $690,102
    From this org
    $0
    From related orgs
    $616,727
    Other
    $73,375
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $545,283 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $11,444 related
    Deferred
    $0 + $56,000 related
    Nontaxable benefits
    $0 + $17,375 related
    Filer's total
    $0 + $690,102 related

  • Anne Lewis

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • James E Taylor

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kiya Tomlin

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Debra Kline Demchak

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Chester R Babst III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurie Barkman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Boughner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joshua Devine

    DIRECTOR

    Total calculated
    $24,106
    From this org
    $0
    From related orgs
    $20,665
    Other
    $3,441
    Hours/week
    1

  • Patrick Dugan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Malesia Dunn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dwayne Finney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dana Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Hathaway

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kirk Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Lang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Laskow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vic Laurenza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jackie Perlow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Blake Ruttenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Schaich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Spencer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vanessa Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Witte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ed Gainey

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Wayne N Walters

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Saleem Ghubril

    PRESIDENT

    Total calculated
    $243,065
    From this org
    $204,529
    From related orgs
    $0
    Other
    $38,536
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,074
    Bonus
    $0
    Other
    $2,455
    Deferred
    $12,340
    Nontaxable benefits
    $26,196
    Filer's total
    $243,065

  • Amy Yearwood

    DIRECTOR, COLLEGE & CAREER SERVICES

    Total calculated
    $129,744
    From this org
    $110,647
    From related orgs
    $0
    Other
    $19,097
    Hours/week
    40

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 · Form 990 of other organizations
  • 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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
21 February 2025
IRS schema version
2023v6.0
Source object
202520589349301212

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