Pennsylvanias State System Of Higher Education Foundation
- Assets
- $11.3m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Carlisle, PA
- Founding
- 04/1986
- Data as of
- 06/2024
- 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 06/2024, Pennsylvanias State System Of Higher Education Foundation employed 5 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 06/2024, Pennsylvanias State System Of Higher Education Foundation generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $2.6m during the year ending 06/2024. While expenses have increased by 19.4% per year over the past 9 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 2019, Pennsylvanias State System Of Higher Education Foundation has awarded 15 individual grants totaling $865,561. 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
2024
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 PASSHE FOUNDATION SERVES AS THE FUNDRAISING ARM OF THE STATE SYSTEM OFFICE OF THE CHANCELLOR AND LEADS CONSORTIA FUNDRAISING EFFORTS ON BEHALF OF MULTI-UNIVERSITY PROJECTS AND INITIATIVES. THE FOUNDATION'S MISSION IS TO SUPPORT STUDENT SUCCESS AND UNIVERSITY EXCELLENCE. IN SUPPORT OF STUDENT SUCCESS, THE FOUNDATION SECURES FUNDS FOR AND MANAGES PROGRAMS AWARDING SCHOLARSHIPS THAT ARE NEED-BASED, INDUSTRY-FOCUSED, AND ACADEMICALLY COMPETITIVE TO STUDENTS ATTENDING THE 10 UNIVERSITIES OF PENNSYLVANIA'S STATE SYSTEM OF HIGHER EDUCATION. DURING THE 2023-24 FISCAL YEAR, THE FOUNDATION AWARDED 994 SCHOLARSHIPS TOTALING 1,461,100. THESE SCHOLARSHIPS IMPROVE ACCESS TO AND AFFORDABILITY OF HIGHER EDUCATION, ENSURING STUDENTS PERSIST THROUGH TO GRADUATION AND ATTAIN A DEGREE. ONE-THIRD OF THE STATE SYSTEM'S STUDENTS COME FROM LOW-INCOME HOUSEHOLDS. A SIMILAR PERCENTAGE ARE THE FIRST GENERATION IN THEIR FAMILIES TO GO TO COLLEGE. THE FOUNDATION'S SCHOLARSHIP PROGRAM NOT ONLY REDUCES THE COST BURDEN OF A POST-SECONDARY EDUCATION BUT ALSO REDUCES THEIR STUDENT LOAN DEBT. STATE SYSTEM STUDENTS FUEL PA'S ECONOMIC VITALITY. TEN YEARS AFTER GRADUATION, 75% OF LOW-INCOME STUDENTS HAVE MOVED TO MIDDLE-CLASS AND THUS ACHIEVED ECONOMIC MOBILITY AND 63% REMAIN WORKING IN PA.
IN SUPPORT OF UNIVERSITY EXCELLENCE, THE FOUNDATION IDENTIFIES AND ACQUIRES RESOURCES TO SUPPORT SYSTEM-WIDE INITIATIVES AND MULTI-CAMPUS INITIATIVES. THE PASSHE FOUNDATION WORKED CLOSELY WITH STATE SYSTEM LEADERSHIP TO SECURE FUNDS TO KICK-START AN INITIATIVE TO EMBED REAL WORLD WORK EXPERIENCE INTO THE ACADEMIC CURRICULUM THROUGH A MULTI-UNIVERSITY PILOT PROGRAM WHICH WILL BE LAUNCHED THROUGHOUT THE STATE SYSTEM'S 10 UNIVERSITIES AND 14 CAMPUSES IN THE 2027-28 ACADEMIC YEAR. DURING THE 2023-24 YEAR, THE FOUNDATION SECURED SPONSORSHIPS TO PROMOTE 1)ENTREPRENEURSHIP VIA THE STATE SYSTEM'S STUDENT BUSINESS START-UP CHALLENGE AND 2)DIVERSITY, INCLUSION, AND EQUITY VIA THE STATE SYSTEM'S DEI SUMMIT. IN ADDITION, THE FOUNDATION DISBURSED FUNDS TO PREVENT DRUG AND ALCOHOL ABUSE VIA A PCCD GRANT, WORKFORCE DEVELOPMENT FOR ADULT LEARNERS IN MULTIPLE INDUSTRIES, AND WASHINGTON CENTER INTERNSHIPS FOR STUDENTS PURSUING CAREERS IN PUBLIC SERVICE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerr David S Chair | OfficerTrustee | 5 | $0 |
Steck Matthew J Vice Chair | OfficerTrustee | 5 | $0 |
Cook Ashley Secretary | OfficerTrustee | 5 | $0 |
D'angelo Gail M Treasurer | OfficerTrustee | 5 | $0 |
Skotedis Crystal Assistant Tr | OfficerTrustee | 5 | $0 |
Alexander Marian C Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $3,727 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $228,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,665,279 |
| Noncash contributions included in lines 1a–1f | $18,700 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,897,632 |
| Total Program Service Revenue | $214,517 |
| Investment income | $144,259 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $304,101 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,560,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,139,284 |
| Grants and other assistance to domestic individuals. | $444,006 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $179,486 |
| Compensation of current officers, directors, key employees. | $24,137 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $248,026 |
| Pension plan accruals and contributions | $11,019 |
| Other employee benefits | $24,512 |
| Payroll taxes | $31,449 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,414 |
| Fees for services: Accounting | $24,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,000 |
| Fees for services: Other | $208,422 |
| Advertising and promotion | $0 |
| Office expenses | $56,499 |
| Information technology | $17,675 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,621 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,339 |
| All other expenses | $0 |
| Total functional expenses | $2,643,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,679,749 |
| Pledges and grants receivable | $537,102 |
| Accounts receivable, net | $36,000 |
| 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 | $2,595 |
| Net Land, buildings, and equipment | $350,000 |
| Investments—publicly traded securities | $5,711,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,316,664 |
| Accounts payable and accrued expenses | $102,361 |
| 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 | $3,594,898 |
| Total liabilities | $3,697,259 |
| Net assets without donor restrictions | $4,603,427 |
| Net assets with donor restrictions | $3,015,978 |
| 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 | $11,316,664 |
Grants Awarded
Over the last fiscal year, Pennsylvanias State System Of Higher Education Foundation has awarded $40,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SHIPPENSBURG UNIVERSITY PURPOSE: WBL GRANT | $10,000 |
SLIPPERY ROCK UNIVERSITY PURPOSE: WBL GRANT | $10,000 |
EAST STROUDSBURG UNIVERSITY PURPOSE: WBL GRANT | $10,000 |
COMMONWEALTH UNIVERSITY PURPOSE: WBL GRANT | $10,000 |