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Nonprofiteer
← THE PHILADELPHIA EDUCATION FUND

Form 990 for tax year 2022

Filed by THE PHILADELPHIA EDUCATION FUND.

Totals

Total revenue
$3,867,759
Total expenses
$4,103,927
Contributions and grants received
$2,794,017
Grants paid
$625,332
Program service revenue
$750,223
Investment income
$322,936
Other revenue
$583
Total assets, end of year
$13,102,729
Total liabilities, end of year
$1,198,321
Net assets or fund balances, end of year
$11,904,408
Program services expenses (Part IX)
$3,681,015
Management and general expenses
$192,622
Fundraising expenses
$230,290
Program service expenses (Part III)
$3,681,015

Program services were 89.7% 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.

  • 1c · Fundraising events

    $127,761

  • 1e · Government grants (contributions)

    $1,069,432

  • 1f · All other contributions, gifts and grants

    $1,596,824

  • 2a · Program service revenue: CONTRACT REVENUE

    total $750,223 · related or exempt $750,223

  • 3 · Investment income

    total $196,682 · excluded $196,682

  • 6a · Gross rents

    real property $15,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $15,000

  • 6d · Net rental income or loss

    total $15,000 · excluded $15,000

  • 7a · Gross sales of assets other than inventory

    securities $244,659

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

    securities $118,405

  • 7c · Gain or loss

    securities $126,254

  • 7d · Net gain or loss

    total $126,254 · excluded $126,254

  • 8a · Fundraising events: gross income

    $12,500

  • 8a · Fundraising events: contributions included on line 1c

    $127,761

  • 8b · Fundraising events: direct expenses

    $26,917

  • 8c · Net income from fundraising events

    total -$14,417 · excluded -$14,417

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $625,332 · program services $625,332

  • 5 · Compensation of officers, directors and key employees

    total $186,688 · program services $124,632 · management and general $43,387 · fundraising $18,669

  • 7 · Other salaries and wages

    total $1,719,255 · program services $1,583,181 · fundraising $136,074

  • 8 · Pension plan contributions

    total $46,388 · program services $39,531 · management and general $2,394 · fundraising $4,463

  • 9 · Other employee benefits

    total $113,831 · program services $98,700 · management and general $4,213 · fundraising $10,918

  • 10 · Payroll taxes

    total $155,145 · program services $132,212 · management and general $8,006 · fundraising $14,927

  • 11b · Fees: legal

    total $95 · management and general $95

  • 11c · Fees: accounting

    total $187,964 · program services $137,898 · management and general $42,213 · fundraising $7,853

  • 11g · Fees: other

    total $473,704 · program services $465,041 · fundraising $8,663

  • 12 · Advertising and promotion

    total $3,076 · program services $381 · fundraising $2,695

  • 13 · Office expenses

    total $98,819 · program services $85,747 · management and general $5,174 · fundraising $7,898

  • 14 · Information technology

    total $63,713 · program services $62,745 · fundraising $968

  • 16 · Occupancy

    total $117,450 · program services $92,568 · management and general $11,174 · fundraising $13,708

  • 17 · Travel

    total $36,490 · program services $33,313 · management and general $3,177

  • 19 · Conferences, conventions and meetings

    total $53,819 · program services $52,127 · management and general $1,692

  • 22 · Depreciation, depletion and amortization

    total $17,464 · program services $8,886 · management and general $8,494 · fundraising $84

  • 23 · Insurance

    total $34,893 · management and general $34,893

  • 24a · Other expenses: HONORIA AND STIPENDS

    total $93,608 · program services $93,608

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $45,414 · program services $33,246 · management and general $9,945 · fundraising $2,223

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $11,063 · program services $9,005 · management and general $1,983 · fundraising $75

  • 24d · Other expenses: TAXES

    total $500 · management and general $500

  • 24e · All other expenses

    total $19,216 · program services $2,862 · management and general $15,282 · fundraising $1,072

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $161,039 · end of year $552,257

  • 2 · Savings and temporary cash investments

    beginning of year $2,848,387 · end of year $2,511,236

  • 3 · Pledges and grants receivable

    beginning of year $2,228,480 · end of year $1,758,264

  • 4 · Accounts receivable

    beginning of year $2,780 · end of year $218,970

  • 9 · Prepaid expenses and deferred charges

    beginning of year $33,150 · end of year $21,725

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

    $772,972

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

    $742,509

  • 10c · Land, buildings and equipment, net

    beginning of year $37,295 · end of year $30,463

  • 11 · Investments: publicly traded securities

    beginning of year $6,726,226 · end of year $7,819,415

  • 15 · Other assets

    beginning of year $17,373 · end of year $190,399

  • 17 · Accounts payable and accrued expenses

    beginning of year $199,538 · end of year $258,494

  • 19 · Deferred revenue

    beginning of year $241,965 · end of year $764,861

  • 25 · Other liabilities

    beginning of year $0 · end of year $174,966

  • 27 · Net assets without donor restrictions

    beginning of year $1,209,343 · end of year $1,407,846

  • 28 · Net assets with donor restrictions

    beginning of year $10,403,884 · end of year $10,496,562

Mission and programs · 2022

Mission

THE MISSION OF THE PHILADELPHIA EDUCATION FUND (PEF) IS TO CREATE EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS BY PROVIDING RESOURCES AND EXPERTISE THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS. WE FOCUS ON PHILADELPHIA STUDENTS ATTENDING PUBLIC SCHOOLS WITH LOW GRADUATION, PERSISTENCE, COLLEGE ENROLLMENT, AND COLLEGE COMPLETION RATES. WE CONSIDER OUR EFFORTS CRITICAL IN A CITY WITH A HIGH SCHOOL GRADUATION RATE OF 69% (VS. 85% NATIONWIDE), A RANK OF 92 OUT OF 100 IN COLLEGE ATTAINMENT, AND IN WHICH 25% OF THE POPULATION LIVES IN POVERTY. WE SEEK TO FULFILL OUR MISSION AND VISION BY EMBEDDING A COLLEGE- AND CAREER-GOING FRAMEWORK IN THE PHILADELPHIA PUBLIC SCHOOL SYSTEM; DESIGNING AND DELIVERING A MODEL SYSTEM OF IN-PERSON AND SCHOOL-BASED, AS WELL AS ONLINE AND VIRTUAL COLLEGE-AND CAREER-GOING SUPPORTS; ALIGNING INSTRUCTION ACROSS SECONDARY AND POSTSECONDARY INSTITUTIONS; RESOURCING STUDENTS WITH SCHOLARSHIP AID; AND SUPPORTING STUDENTS, EDUCATORS, DISTRICTS AND COMMUNITIES IN

Activities or mission (Part I)

CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS.

  • DIRECT SERVICES TO STUDENTS: THE GOAL OF THE DIRECT SERVICE PROGRAMS IS TO CREATE PATHWAYS TO COLLEGE AND CAREER BY BRINGING THE DREAM OF A COLLEGE EDUCATION WITHIN REACH OF PUBLIC SCHOOL GRADUATES BY PROVIDING INFORMATION AND GUIDANCE ABOUT THE STEPS STUDENTS NEED TO TAKE TO PREPARE FOR COLLEGE AND BY HELPING STUDENTS SECURE THE NECESSARY FUNDS TO ATTEND COLLEGE. WORKING IN PARTNERSHIP WITH THE SCHOOL DISTRICT OF PHILADELPHIA, HIGHER EDUCATION, COMMUNITY GROUPS, AND BUSINESSES, THESE PROGRAMS ENHANCE THE SCHOOL CURRICULUM BY PROVIDING COLLEGE ADVISORY SERVICES AND PREPARATORY WORKSHOPS, STANDARDIZED TEST PREPARATION, ACADEMIC ENRICHMENT PROGRAMS, AND OTHER "HANDS-ON" ASSISTANCE TO THOUSANDS OF CITY STUDENTS (CONTINUED ON SCHEDULE O).THROUGH OUR PHILADELPHIA SCHOLARS PROGRAM, THE ED FUND STEWARDS AN ENDOWMENT THAT AWARDS GAP-FILLING LAST-DOLLAR COLLEGE SCHOLARSHIPS TO MORE THAN 100 ELIGIBLE STUDENTS ANNUALLY AND SUPPORTS RECIPIENTS IN COLLEGE RETENTION, PERSISTENCE AND COMPLETION THROUGH COMPLEMENTARY PROGRAMMING, INCLUDING WORKSHOPS, RESOURCE SHARING, MENTORSHIP, AND APPLICATION ASSISTANCE TO SPECIALIZED THIRD-PARTY SCHOLARSHIPS THAT LEVERAGE THE PHILADELPHIA SCHOLARS AWARD.

    Expenses $2,908,638 · Grants $625,332 · Revenue $750,223

  • TEACHING AND LEARNING:THROUGH THE ED FUND'S SCHOOL SERVICES PROGRAMMING, THE ED FUND SUPPORTS SCHOOLS, NONPROFITS, AND TEACHERS THROUGH PROFESSIONAL DEVELOPMENT AND SUPPORTS IN CREATING COLLEGE GOING SCHOOL-BASED CULTURES.

    Expenses $772,377

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John G Ginelli

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Joann Mitchell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Siobhan Reardon

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Mark Silow

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • David Baker

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Ball

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Valerie E Brown

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Richard Corcoran

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Aleksandra Davis

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Patricia Day

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Donald Diloreto

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Phillip Gabler

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • La-Toya P Hackney

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Asim Haque

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sophia Lee

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Lorenz-Fisher

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Melinda Marchesi

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas Morrison

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Juliana Mosley-Williams

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Markus Weidner

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Farah Jimenez

    PRESIDENT AND CEO

    Total calculated
    $169,643
    From this org
    $160,000
    From related orgs
    $0
    Other
    $9,643
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,643
    Filer's total
    $169,643

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202441359349303964

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