Pennsylvanias State System Of Higher Education Foundation
- Assets
- $4.6m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Carlisle, PA
- Founding
- 04/1986
- Data as of
- 06/2022
- EIN
- 22-2686249
Organization Overview
Pennsylvanias State System Of Higher Education Foundation is located in Carlisle, PA. The organization was established in 1986. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Pennsylvanias State System Of Higher Education Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvanias State System Of Higher Education Foundation 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, Pennsylvanias State System Of Higher Education Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 14.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE EDUCATIONAL MISSION AND ACTIVITIES OF PENNSYLVANIA'S STATE SYSTEM OF HIGHER EDUCATION BY GENERATING PRIVATE SECTOR SUPPORT AND ENGAGING IN OTHER ACTIVITIES TO ADVANCE THE SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAINTAINS PROGRAMS THAT AWARD SCHOLARSHIPS ANNUALLY THAT ARE NEED-BASED, INDUSTRY FOCUSED, AND ACADEMICALLY COMPETITIVE TO STUDENTS ATTENDING THE 14 UNIVERSITIES OF THE PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION. A TOTAL OF 500 SCHOLARSHIPS WERE GIVEN DURING THE 2020-21 FISCAL YEAR. EMPLOYERS FROM THE TOP "IN DEMAND" INDUSTRIES ARE KEY INVESTORS IN THE FOUNDATION'S SCHOLARSHIP PROGRAM. THESE SCHOLARSHIPS IMPROVED RETENTION AND GRADUATION RATES, WHICH INCORPORATE TIMELY PROGRESS TO GRADUATION. THE SYSTEM'S CURRENT FOUR-YEAR GRADUATION RATE OF UNDERGRADUATE STUDENTS IS 55%; THE SIX-YEAR GRADUATION RATE IS 75%. THE SYSTEM FAR SURPASSES ITS NATIONAL PEER INSTITUTIONS ON THESE MEASURES. THE PASSHE FOUNDATION'S SCHOLARSHIP PROGRAM AIMS TO REDUCE COST BURDEN ON STUDENTS BY BOTH REDUCING NUMBER OF YEARS TO GRADUATE AND IMPROVING GRADUATES' EARNING POTENTIAL. IT ALSO REDUCES GRADUATES' STUDENT LOAN DEBT BURDEN AND IMPROVES CONNECTIONS FOR INTERNSHIPS AND EMPLOYMENT.
THE FOUNDATION HELPS TO IDENTIFY AND ACQUIRE RESOURCES, THROUGH SPONSORSHIPS AND OTHER FUNDING STREAMS, FOR INSTITUTION SPECIFIC, SYSTEM- WIDE AND MULTI-UNIVERSITY COLLABORATIVE PROGRAMS. DURING THE 2020-21 YEAR: FUNDS WERE DISBURSED IN SUPPORT OF THE WOODROW WILSON FOUNDATION TEACHING FELLOWSHIP; CAREER COACH (SYSTEM-WIDE SOLUTION FOR TAKING STUDENTS SUCCESSFULLY FROM GRADUATION TO OCCUPATION); SBIRT VIA A GRANT FROM PCCD (ELECTRONIC AND IN-PERSON RESOURCE FOR EARLY INTERVENTION DRUG AND ALCOHOL COUNSELING FOR STUDENTS); STUDENT LEADERSHIP (PDE GRANT FOR CHEYNEY UNIVERSITY TO HOST A CONFERENCE FOR ALL STUDENTS IN THE STATE SYSTEM AND BEYOND PA); STUDENT BUSINESS PLAN COMPETITION; WASHINGTON CENTER INTERNSHIP PROGRAM; WORKFORCE DEVELOPMENT PROJECTS AND STUDENT AFFORDABILITY AND SUCCESS PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pritchard Cynthia President & | Officer | 40 | $146,072 |
Miller Edelyn Lynn Chair | OfficerTrustee | 5 | $0 |
Steck Matthew J Vice Chair | OfficerTrustee | 5 | $0 |
Alexander Marion Carey Secretary / | OfficerTrustee | 5 | $0 |
D'angelo Gail M Treasurer | OfficerTrustee | 5 | $0 |
Kerr David S Assistant Tr | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $15,062 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,226,005 |
| Noncash contributions included in lines 1a–1f | $10,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,271,067 |
| Total Program Service Revenue | $254,472 |
| Investment income | $98,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$770 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,622,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $170,903 |
| Grants and other assistance to domestic individuals. | $369,310 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,623 |
| Compensation of current officers, directors, key employees. | $27,744 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,967 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,495 |
| Payroll taxes | $26,673 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,605 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,050 |
| Fees for services: Other | $270,686 |
| Advertising and promotion | $0 |
| Office expenses | $32,755 |
| Information technology | $17,974 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,125 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,026 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,269 |
| All other expenses | $0 |
| Total functional expenses | $1,368,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $909,402 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,720,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,629,518 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,950,912 |
| Net assets with donor restrictions | $1,678,606 |
| 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 | $4,629,518 |
Grants Awarded
Over the last fiscal year, Pennsylvanias State System Of Higher Education Foundation has awarded $153,199 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Princeton, NJ PURPOSE: SCHOLARSHIPS | $130,000 |
Millersville, PA PURPOSE: BOG ER AID FUND | $23,199 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Pennsylvanias State System Of Higher Education Foundation has recieved totaling $411,500.
| Awarding Organization | Amount |
|---|---|
The David S And Karen A Shapira Foundation Pittsburgh, PA PURPOSE: CHARITABLE | $391,500 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $20,000 |
Endowment Analysis
| Beg. Balance | $1,396,643 |
| Earnings | $70,523 |
| Net Contributions | $10 |
| Grants | $18,263 |
| Ending Balance | $1,448,913 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |
Elevate 215 Philadelphia, PA | $9,991,857 | $10,518,985 |
Battelle For Kids Hilliard, OH | $8,986,527 | $5,810,919 |
Meged Shomayim Airmont, NY | $573,750 | $8,461,954 |
Nli Usa Inc New York, NY | $11,341,396 | $10,639,057 |