The Philadelphia Education Fund
- Assets
- $12.1m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 27
- Location
- Philadelphia, PA
- Founding
- 07/1987
- Data as of
- 06/2022
- EIN
- 22-2567982
Organization Overview
The Philadelphia Education Fund is located in Philadelphia, PA. The organization was established in 1987. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2022, Philadelphia Education Fund employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Education Fund 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, Philadelphia Education Fund generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $3.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Farah Jimenez President And CEO | Officer | 35 | $160,000 |
Nancy Peter Director Of Stem | 40 | $100,410 | |
John G Ginelli Chair | OfficerTrustee | 2 | $0 |
Joann Mitchell Vice Chair | OfficerTrustee | 1.5 | $0 |
Siobhan Reardon Treasurer | OfficerTrustee | 1.5 | $0 |
Mark Silow Secretary | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $146,986 |
| Related organizations | $0 |
| Government grants | $1,224,002 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,815,393 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,186,381 |
| Total Program Service Revenue | $160,931 |
| Investment income | $247,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,009 |
| Net Gain/Loss on Asset Sales | $153,967 |
| Net Income from Fundraising Events | -$11,551 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,752,590 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $530,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $277,964 |
| Compensation of current officers, directors, key employees. | $83,389 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,233,314 |
| Pension plan accruals and contributions | $27,253 |
| Other employee benefits | $129,580 |
| Payroll taxes | $117,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $136,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $291,517 |
| Advertising and promotion | $324 |
| Office expenses | $41,971 |
| Information technology | $53,054 |
| Royalties | $0 |
| Occupancy | $108,804 |
| Travel | $11,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,641 |
| Insurance | $27,305 |
| All other expenses | $14,884 |
| Total functional expenses | $3,118,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,039 |
| Savings and temporary cash investments | $2,848,387 |
| Pledges and grants receivable | $2,228,480 |
| Accounts receivable, net | $2,780 |
| 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 | $33,150 |
| Net Land, buildings, and equipment | $37,295 |
| Investments—publicly traded securities | $6,726,226 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,373 |
| Total assets | $12,054,730 |
| Accounts payable and accrued expenses | $199,538 |
| Grants payable | $0 |
| Deferred revenue | $241,965 |
| 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 | $441,503 |
| Net assets without donor restrictions | $1,209,343 |
| Net assets with donor restrictions | $10,403,884 |
| 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 | $12,054,730 |