Steppingstone Foundation Inc
- Assets
- $21.5m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 140
- Location
- Boston, MA
- Founding
- 04/1991
- Data as of
- 06/2022
- EIN
- 04-3086666
Organization Overview
Steppingstone Foundation Inc is located in Boston, MA. The organization was established in 1991. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2022, Steppingstone Foundation Inc employed 140 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Steppingstone Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Steppingstone Foundation Inc generated $16.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $5.6m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
STEPPINGSTONE PREPARES STUDENTS FROM HISTORICALLY MARGINALIZED COMMUNITIES TO ACCESS, NAVIGATE, AND GRADUATE FROM COLLEGE.
Describe the Organization's Program Activity:
THE STEPPINGSTONE SCHOLARS PROGRAM IN BOSTON PREPARES MOTIVATED FIFTH- AND SIXTH-GRADERS FROM UNDERSERVED COMMUNITIES IN BOSTON BY PROVIDING AN INTENSIVE AFTER-SCHOOL AND SUMMER ACADEMIC PROGRAM DESIGNED TO ASSIST THESE STUDENTS IN GAINING ADMISSION TO AN INDEPENDENT, EXAM, OR BOSTON PUBLIC SCHOOL IN THE SIXTH, SEVENTH, OR NINTH GRADES. AFTER COMPLETING THE ACADEMIC COMPONENT, SUPPORT SERVICES SUCH AS MENTORING, EXTRACURRICULAR ACTIVITIES, AND COLLEGE GUIDANCE ARE PROVIDED TO ENSURE THAT THE STUDENTS SUCCEED IN SCHOOL AND ULTIMATELY GRADUATE FROM A FOUR-YEAR COLLEGE. EACH YEAR, THE STEPPINGSTONE SCHOLARS PROGRAM SERVES APPROXIMATELY 1,400 SCHOLARS IN GRADES 5 - COLLEGE. OF THE SCHOLARS WHO COMPLETE THE ACADEMIC PREPARATION COMPONENT, APPROXIMATELY 89% GAIN ADMISSION TO AN INDEPENDENT OR PUBLIC EXAM SCHOOL, 99% GRADUATE FROM HIGH SCHOOL, AND 92% ENROLL AT FOUR-YEAR COLLEGES. 80% GRADUATE FROM FOUR-YEAR COLLEGES WITHIN SIX YEARS.
THE NATIONAL PARTNERSHIP FOR EDUCATIONAL ACCESS (NPEA), WHICH THE STEPPINGSTONE FOUNDATION FORMALLY LAUNCHED IN 2007, IS A MEMBERSHIP ORGANIZATION FOR PROGRAMS AND SCHOOLS WORKING TO ELIMINATE BARRIERS TO EDUCATIONAL ACCESS AND COLLEGE AND CAREER SUCCESS FOR UNDERSERVED STUDENTS. AT THE END OF FISCAL YEAR 2022, NPEA HAD 244 MEMBERS FROM ALL ACROSS THE COUNTRY, INCLUDING EDUCATIONAL NONPROFITS, SCHOOLS, AND COLLEGES & UNIVERSITIES. NPEA MEMBERS SHARE BEST PRACTICES, NETWORK, RECEIVE PROFESSIONAL DEVELOPMENT AND CAN ACCESS EDUCATIONAL SERVICES FOR THEIR STUDENTS AS A BENEFIT OF PARTICIPATING IN NPEA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Glew President | Officer | 40 | $179,106 |
Kate Wood Cao | Officer | 40 | $152,456 |
Kerry L Tavernese Cfoo | Officer | 40 | $139,492 |
Christopher Parris Cpo | 40 | $108,571 | |
Angela Bouchard Cto | 40 | $110,063 | |
Karin Elliott Ed - Npea | 40 | $105,132 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $852,988 |
| Related organizations | $0 |
| Government grants | $602,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,799,992 |
| Noncash contributions included in lines 1a–1f | $191,362 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,255,580 |
| Total Program Service Revenue | $234,078 |
| Investment income | $1,032,734 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,327 |
| Net Income from Fundraising Events | -$180,129 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,364,119 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $555,464 |
| Compensation of current officers, directors, key employees. | $248,975 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,809,497 |
| Pension plan accruals and contributions | $62,259 |
| Other employee benefits | $202,693 |
| Payroll taxes | $273,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,103 |
| Fees for services: Accounting | $46,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $125,400 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $174,446 |
| Advertising and promotion | $0 |
| Office expenses | $39,254 |
| Information technology | $88,243 |
| Royalties | $0 |
| Occupancy | $531,071 |
| Travel | $70,395 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,185 |
| Interest | $2,941 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,095 |
| Insurance | $29,620 |
| All other expenses | $16,434 |
| Total functional expenses | $5,552,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,320,562 |
| Savings and temporary cash investments | $1,543,722 |
| Pledges and grants receivable | $2,410,309 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $261,034 |
| Net Land, buildings, and equipment | $194,469 |
| Investments—publicly traded securities | $14,329,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,452,393 |
| Total assets | $21,511,521 |
| Accounts payable and accrued expenses | $257,660 |
| Grants payable | $0 |
| Deferred revenue | $195,009 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,592,257 |
| Total liabilities | $2,044,926 |
| Net assets without donor restrictions | $4,647,281 |
| Net assets with donor restrictions | $14,819,314 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $21,511,521 |