The Posse Foundation Inc is located in New York, NY. The organization was established in 1996. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Posse Foundation Inc employed 240 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Posse 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 12/2020, Posse Foundation Inc generated $44.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $21.1m during the year ending 12/2020. While expenses have increased by 0.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Posse Foundation Inc has awarded 72 individual grants totaling $7,400,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
POSSE STARTED BECAUSE OF ONE STUDENT WHO SAID, "I NEVER WOULD HAVE DROPPED OUT OF COLLEGE IF I HAD MY POSSE WITH ME." THE POSSE FOUNDATION, FOUNDED IN 1989, IDENTIFIES PUBLIC HIGH SCHOOL STUDENTS WITH EXTRAORDINARY ACADEMIC AND LEADERSHIP POTENTIAL WHO MAY BE OVERLOOKED BY TRADITIONAL COLLEGE SELECTION PROCESSES. THE FOUNDATION EXTENDS TO THESE STUDENTS THE OPPORTUNITY TO PURSUE PERSONAL AND ACADEMIC EXCELLENCE BY PLACING THEM IN SUPPORTIVE, MULTICULTURAL TEAMS ("POSSES") OF 10 STUDENTS. THE FOUNDATION'S PARTNER UNIVERSITIES AWARD POSSE SCHOLARS FOUR-YEAR, FULL-TUITION LEADERSHIP SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RECRUITMENT AND TRAINING PROGRAMS INCLUDE THE FOLLOWING SUB-PROGRAMS: RECRUITMENT, PRE-COLLEGIATE TRAINING, CAMPUS AND CAREER AND ALUMNI. FOR THE RECRUITMENT PROGRAM, FROM SEPTEMBER THROUGH DECEMBER EACH YEAR, POSSE CONDUCTS THE DYNAMIC ASSESSMENT PROCESS (DAP), A UNIQUE EVALUATION METHOD DESIGNED TO IDENTIFY YOUNG LEADERS WHO MIGHT BE MISSED BY TRADITIONAL ADMISSIONS CRITERIA, BUT WHO CAN EXCEL AT SELECTIVE COLLEGES AND UNIVERSITIES. FOR THE PRE-COLLEGIATE TRAINING PROGRAM FROM JANUARY TO AUGUST OF THEIR SENIOR YEAR IN HIGH SCHOOL POSSE SCHOLARS MEET WEEKLY WITH STAFF TRAINERS AND THEIR POSSE PEERS FOR TWO-HOUR WORKSHOPS. THE TRAINING PROGRAM CONSISTS OF WORKSHOPS THAT ADDRESS FOUR AREAS: TEAM BUILDING AND GROUP SUPPORT, CROSS-CULTURAL COMMUNICATION, LEADERSHIP AND BECOMING AN ACTIVE AGENT OF CHANGE ON CAMPUS, AND ACADEMIC EXCELLENCE. FOR THE CAMPUS PROGRAM, POSSE STAFF MEMBERS VISIT EACH UNIVERSITY FOUR TIMES A YEAR FOR MEETINGS WITH POSSE SCHOLARS, CAMPUS LIAISONS AND MENTORS. EACH MENTOR MEETS WEEKLY WITH THE POSSE AS A TEAM AND WITH EACH SCHOLAR INDIVIDUALLY EVERY TWO WEEKS DURING THE FIRST TWO YEARS IN COLLEGE. IN ADDITION, POSSE FACILITATES AN ANNUAL WEEKEND-LONG POSSEPLUS RETREAT ATTENDED BY MEMBERS OF THE LARGER STUDENT BODY, FACULTY AND ADMINISTRATION, WITH THE GOAL OF DISCUSSING IMPORTANT CAMPUS ISSUES IDENTIFIED BY POSSE SCHOLARS. FOR THE CAREER PROGRAM, POSSE PLAYS AN INTEGRAL ROLE IN THE PROFESSIONAL DEVELOPMENT OF OUR SCHOLARS AND ALUMNI BY PROVIDING THEM WITH THE TOOLS AND OPPORTUNITIES NECESSARY TO SECURE HIGHLY COMPETITIVE AND CAREER-ENHANCING INTERNSHIPS AND JOBS. ONE OF THE WAYS POSSE ACHIEVES THIS IS BY PARTNERING WITH EXCEPTIONAL COMPANIES AND ORGANIZATIONS BOTH NATIONALLY AND ABROAD. CURRENTLY, POSSE HAS MORE THAN 250 PARTNER COMPANIES AND ORGANIZATIONS NATIONWIDE. THE CAREER PROGRAM HAS THREE CORE COMPONENTS: THE INTERNSHIP PROGRAM, CAREER DEVELOPMENT WORKSHOPS, CAREER COACHING, GRADUATE AND FELLOWSHIP PROGRAMS AND THE ALUMNI NETWORK.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Deborah Bial President | OfficerTrustee | 40 | $515,562 |
Matthew Fasciano Chief Operating Officer | Officer | 40 | $312,226 |
Hedy Roma VP Development | Officer | 40 | $229,449 |
Francis Occena Cfo/cao | Officer | 40 | $210,426 |
Rassan Salandy VP External Affairs | 40 | $169,441 | |
Stacey Pierce Associate Vice President | 40 | $142,499 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $37,763,272 |
Noncash contributions included in lines 1a–1f | $2,947,586 |
Total Revenue from Contributions, Gifts, Grants & Similar | $37,763,272 |
Total Program Service Revenue | $3,350,004 |
Investment income | $3,257,341 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $368,608 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $44,739,225 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $700,000 |
Grants and other assistance to domestic individuals. | $1,076,697 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,323,970 |
Compensation of current officers, directors, key employees. | $185,356 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,482,385 |
Pension plan accruals and contributions | $152,072 |
Other employee benefits | $1,169,946 |
Payroll taxes | $834,697 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $148,300 |
Fees for services: Other | $818,394 |
Advertising and promotion | $0 |
Office expenses | $591,394 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $3,410,160 |
Travel | $760,781 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $15,744 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $126,106 |
Insurance | $94,762 |
All other expenses | $9,696 |
Total functional expenses | $21,123,690 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,969 |
Savings and temporary cash investments | $23,855,442 |
Pledges and grants receivable | $10,894,657 |
Accounts receivable, net | $3,685,784 |
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 | $736,204 |
Net Land, buildings, and equipment | $264,805 |
Investments—publicly traded securities | $67,244,971 |
Investments—other securities | $13,786,987 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $176,906 |
Total assets | $120,660,725 |
Accounts payable and accrued expenses | $814,807 |
Grants payable | $0 |
Deferred revenue | $1,750,001 |
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 | $2,253,600 |
Other liabilities | $1,089,688 |
Total liabilities | $5,908,096 |
Net assets without donor restrictions | $41,316,486 |
Net assets with donor restrictions | $73,436,143 |
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 | $120,660,725 |
Over the last fiscal year, The Posse Foundation Inc has awarded $2,175,000 in support to 13 organizations.
Grant Recipient | Amount |
---|---|
Valencia, CA PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $500,000 |
Mount Vernon, IA PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $250,000 |
Memphis, TN PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $250,000 |
WILLIAM & MARY PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $250,000 |
Portland, OR PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $250,000 |
Villanova, PA PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $100,000 |
Over the last fiscal year, we have identified 2 grants that The Posse Foundation Inc has recieved totaling $11,000.
Awarding Organization | Amount |
---|---|
Mary Jane And Carl Panattoni Charitable Foundation Palm Beach, FL PURPOSE: SUPPORT THEIR PURPOSE | $10,000 |
P O W E R Foundation Inc Baltimore, MD PURPOSE: EDUCATIONAL | $1,000 |
Beg. Balance | $88,304,299 |
Earnings | $13,548,249 |
Net Contributions | $100,000 |
Other Expense | $2,791,657 |
Ending Balance | $99,160,891 |
Organization Name | Assets | Revenue |
---|---|---|
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |