Partnership Schools
- Assets
- $55.4m
- Revenue
- $27.5m
- Investments
- $3.6m
- Employees
- 53
- Location
- New York, NY
- Founding
- 03/1946
- Data as of
- 08/2023
- EIN
- 13-3976873
Organization Overview
Partnership Schools is located in New York, NY. The organization was established in 1946. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 08/2023, Partnership Schools employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership Schools 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 08/2023, Partnership Schools generated $27.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $24.4m during the year ending 08/2023. While expenses have increased by 8.7% 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 2017, Partnership Schools has awarded 123 individual grants totaling $71,079,796. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PARTNERSHIP SCHOOLS IS TO DEVELOP OUTSTANDING CATHOLIC ELEMENTARY SCHOOLS THAT PROVIDE STUDENTS WITH THE ACADEMIC PREPARATION, VALUES, AND SKILLS THEY NEED TO LEAD FULFILLING, PRODUCTIVE LIVES. THE PARTNERSHIP SUPPORTS ITS SEVEN SCHOOLS OF THE ARCHDIOCESE OF NEW YORK IN FOUR MAIN AREAS: NEEDS-BASED TUITION SCHOLARSHIPS; PROGRAMMATIC AND OPERATIONAL SUPPORT; ADMINISTRATIVE, EDUCATIONAL AND OPERATIONAL SERVICES; AND CAPITAL REPAIR GRANTS. THE PARTNERSHIP WAS CREATED TO PROVIDE A STABLE AND LONGER-TERM SOURCE OF SUPPORT FOR SCHOOLS SERVING HIGH PERCENTAGES OF FAMILIES EXPERIENCING POVERTY, AND IS OPERATED INDEPENDENTLY FROM THE ARCHDIOCESE OF NEW YORK. THE PARTNERSHIP ALSO PROVIDED SUPPORT TO TWO SCHOOLS IN THE DIOCESE OF CLEVELAND.
Describe the Organization's Program Activity:
THE PARTNERSHIP PROVIDES ADMINISTRATIVE, EDUCATIONAL AND OPERATIONAL SERVICES TO SEVEN PREK - 8TH GRADE SCHOOLS GOVERNED BY THE ARCHDIOCESE OF NEW YORK, WHICH SERVE A HIGH PERCENTAGE OF FAMILIES WHO CANNOT AFFORD THE RIGOROUS, FAITH-BASED SCHOOL OPTIONS THEY SEEK. THE PARTNERSHIP PROVIDES BOTH HUMAN AND FINANCIAL RESOURCES TO DELIVER THAT RIGOROUS EDUCATION, GROUNDED IN CONTENT, CHARACTER, AND FAITH, TO ITS STUDENTS. ADDITIONALLY, SCHOLARSHIPS ARE PROVIDED TO APPROXIMATELY 1,600 STUDENTS ATTENDING THESE SCHOOLS. THE PARTNERSHIP ALSO FUNDS CAPITAL IMPROVEMENTS MADE TO THE SCHOOL BUILDINGS.
GRANTS MADE TO ELEMENTARY AND HIGH SCHOOLS OUTSIDE THE SEVEN NY SCHOOL NETWORK FOR SCHOLARSHIPS, ACADEMIC AND ENRICHMENT PROGRAMS AND GENERAL OPERATING SUPPORT.
THE PARTNERSHIP PROVIDES ADMINISTRATIVE, EDUCATIONAL AND OPERATIONAL SERVICES TO FOUR PREK - 8TH GRADE SCHOOLS GOVERNED BY THE DIOCESE OF CLEVELAND, WHICH SERVE A HIGH PERCENTAGE OF FAMILIES WHO CANNOT AFFORD THE RIGOROUS, FAITH-BASED SCHOOL OPTIONS THEY SEEK. THE PARTNERSHIP PROVIDES BOTH HUMAN AND FINANCIAL RESOURCES TO DELIVER THAT RIGOROUS EDUCATION, GROUNDED IN CONTENT, CHARACTER, AND FAITH, TO ITS STUDENTS. THE PARTNERSHIP ALSO FUNDS CAPITAL IMPROVEMENTS MADE TO THE SCHOOL BUILDINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell L Carson Chairman | OfficerTrustee | 1 | $0 |
Amy M Stevens President | OfficerTrustee | 1 | $0 |
Donald J Herdrich Treasurer | OfficerTrustee | 1 | $0 |
Clemence Von Mueffling Trustee | Trustee | 1 | $0 |
FR Donald P Oleksiak Trustee | Trustee | 1 | $0 |
Elizabeth Cogan Fascitelli -Thru Fe Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edops Mgmt & Accounting | 8/30/23 | $504,219 |
Community Counseling Services Program Consulting | 8/30/23 | $460,799 |
Financial Statements
| 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 | $25,838,452 |
| Noncash contributions included in lines 1a–1f | $569,090 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,838,452 |
| Total Program Service Revenue | $0 |
| Investment income | $940,125 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $714,567 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,493,684 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,579,061 |
| 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. | $1,338,131 |
| Compensation of current officers, directors, key employees. | $630,362 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,830,959 |
| Pension plan accruals and contributions | $107,372 |
| Other employee benefits | $346,357 |
| Payroll taxes | $299,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,484 |
| Fees for services: Accounting | $158,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $155,946 |
| Fees for services: Other | $1,460,866 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $282,210 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $82,751 |
| All other expenses | $506 |
| Total functional expenses | $24,414,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,219,131 |
| Savings and temporary cash investments | $726,362 |
| Pledges and grants receivable | $20,465,452 |
| 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 | $259,335 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $25,907,230 |
| Investments—other securities | $3,595,058 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $237,001 |
| Total assets | $55,409,569 |
| Accounts payable and accrued expenses | $638,133 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $638,133 |
| Net assets without donor restrictions | $6,495,098 |
| Net assets with donor restrictions | $48,276,338 |
| 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 | $55,409,569 |
Grants Awarded
Over the last fiscal year, Partnership Schools has awarded $16,572,268 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY OF MOUNT ST URSULA PURPOSE: Tuition Scholarships | $9,400 |
ALL HALLOWS HIGH SCHOOL PURPOSE: Tuition Scholarships | $100,000 |
CATHEDRAL HIGH SCHOOL PURPOSE: Tuition Scholarships | $11,500 |
ST CATHERINE ACADEMY PURPOSE: Tuition Scholarships | $11,500 |
ST IGNATIUS SCHOOL PURPOSE: Tuition Scholarships | $17,645 |
ST RAYMOND SCHOOL PURPOSE: Tuition Scholarships | $475,000 |