Team Pennsylvania Foundation
- Assets
- $11.5m
- Revenue
- $2.7m
- Investments
- $710.1k
- Employees
- 10
- Location
- Harrisburg, PA
- Founding
- 08/1998
- Data as of
- 06/2022
- EIN
- 23-2876177
Organization Overview
Team Pennsylvania Foundation is located in Harrisburg, PA. The organization was established in 1998. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Team Pennsylvania Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Pennsylvania 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, Team Pennsylvania Foundation generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 2.4% 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
ACCELERATING PENNSYLVANIA'S ECONOMIC GROWTH THROUGH PUBLIC-PRIVATE PARTNERSHIP
Describe the Organization's Program Activity:
Part 3 - Line 4a
PA TOURISM AND ECONOMIC DEVELOPMENTIN COLLABORATION WITH DCED, THESE PROGRAMS INCLUDE A CREATIVE PRODUCTION FOR A SEASONAL TOURISM CAMPAIGN, A GOVERNMENT-TO-BUSINESS CAMPAIGN THAT INCLUDES A CREATIVE PRODUCTION FOCUSED ON PRIORITY INDUSTRIES, A SITE SELECTOR PROGRAM THAT INCLUDES STRATEGIC SPONSORSHIPS AND METRO MISSIONS, AND GENERAL SUPPORT OF DCED OFFICE OF TOURISM.
EARLY LEARNING INVESTMENT COMMISSIONTHE EARLY LEARNING INVESTMENT COMMISSION (ELIC) WAS CREATED BY EXECUTIVE ORDER 2008-08 TO BUILD A PARTNERSHIP BETWEEN THE PUBLIC SECTOR AND BUSINESS COMMUNITY ON THE VALUE OF PUBLIC INVESTMENT IN EARLY LEARNING, FOCUSING ON PRACTICES THAT ARE EDUCATIONALLY, ECONOMICALLY, AND SCIENTIFICALLY SOUND. ELIC SEEKS TO IDENTIFY FUNDING SOURCES WITHIN THE PRIVATE SECTOR THAT CAN BE USED TO UNDERTAKE AND BUILD SUSTAINABLE CAPACITY IN SUPPORT OF PENNSYLVANIA'S EARLY LEARNING AND ECONOMIC DEVELOPMENT THROUGH SELECTED PROJECTS AND ORGANIZATIONAL RESOURCE COMMITMENTS.
PARTNERSHIPS AND INITIATIVESTO CARRY OUT OUR ORGANIZATIONAL MISSION, TEAM PA STAFF ENGAGE IN DIVERSE ASPECTS OF POLICY AND PROGRAMMATIC DEVELOPMENT ON ALL LEVELS, BOTH PUBLIC AND PRIVATE. THESE INITIATIVES ARE DESIGNED TO HAVE A LASTING IMPACT ON IMPROVING PENNSYLVANIA'S ECONOMY AND OFTEN DO NOT REQUIRE LONG-TERM ORGANIZATIONAL RESOURCE COMMITMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abby Smith President & CEO | Officer | 50 | $55,566 |
Hon Tom Wolf Co-Chair | OfficerTrustee | 1 | $0 |
Anthony Bartolomeo Co-Chair | OfficerTrustee | 1 | $0 |
Stephen S Tang PHD Secretary | OfficerTrustee | 1 | $0 |
Susan Yee Treasurer | OfficerTrustee | 1 | $0 |
John Packer Contracted CFO | Officer | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Development Counsellors International Ll Consulting Services | 6/29/20 | $496,000 |
Red House Communications Consulting Services | 6/29/20 | $1,450,645 |
Hershey Lodge Conference Venues | 6/29/20 | $325,786 |
Red House Communications Consulting Services | 6/29/20 | $1,450,645 |
Hershey Lodge Conference Venues | 6/29/20 | $325,786 |
Development Counsellors International Ll Consulting Services | 6/29/20 | $496,000 |
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 | $764,716 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $764,716 |
| Total Program Service Revenue | $1,744,492 |
| Investment income | $162,766 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$45,171 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,698,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $133,706 |
| Compensation of current officers, directors, key employees. | $23,197 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $470,315 |
| Pension plan accruals and contributions | $9,960 |
| Other employee benefits | $39,066 |
| Payroll taxes | $49,245 |
| Fees for services: Management | $38,288 |
| Fees for services: Legal | $9,064 |
| Fees for services: Accounting | $16,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,157 |
| Fees for services: Other | $1,534,476 |
| Advertising and promotion | $46,839 |
| Office expenses | $189,325 |
| Information technology | $15,202 |
| Royalties | $0 |
| Occupancy | $86,423 |
| Travel | $7,551 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,808 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,894 |
| Insurance | $12,150 |
| All other expenses | $16,235 |
| Total functional expenses | $2,843,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,242,003 |
| Pledges and grants receivable | $401,293 |
| Accounts receivable, net | $124,416 |
| 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 | $29,869 |
| Net Land, buildings, and equipment | $2,355 |
| Investments—publicly traded securities | $6,017,545 |
| Investments—other securities | $710,121 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,978 |
| Total assets | $11,532,580 |
| Accounts payable and accrued expenses | $805,927 |
| Grants payable | $0 |
| Deferred revenue | $72,315 |
| 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 | $1,761,554 |
| Total liabilities | $2,639,796 |
| Net assets without donor restrictions | $7,368,260 |
| Net assets with donor restrictions | $1,524,524 |
| 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 | $11,532,580 |
Grants Awarded
Over the last fiscal year, Team Pennsylvania Foundation has awarded $34,867 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PENNSYLVANIA ASSOCIATION OF INTERMEDIATE UNITS PURPOSE: IU REGION PROJECT MANAGEMENT, PAIU PROJECT MANAGEMENT | $28,200 |
NORTHAMPTON AREA SCHOOL DISTRICT PURPOSE: CAREER READINESS MINI-GRANT PROJECT 2018 | $6,667 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Team Pennsylvania Foundation has recieved totaling $296,488.
| Awarding Organization | Amount |
|---|---|
Ascendium Education Solutions Inc Madison, WI PURPOSE: Next Generation Sector Partnerships National Benchmarking & Rural Affinity Group | $73,300 |
Grable Foundation Pittsburgh, PA PURPOSE: TO SUPPORT A STATEWIDE COALITION OF BUSINESS LEADERS WHO SERVE AS CHAMPIONS FOR HIGH-QUALITY EARLY LEARNING | $55,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $52,188 |
William Penn Foundation Philadelphia, PA PURPOSE: EARLY LEARNING INVESTMENT COMMISSION | $50,000 |
Community Foundation Of Western Pennsylvania And Eastern Ohio Sharon, PA PURPOSE: PROGRAM SUPPORT | $30,000 |
At&t Foundation Dallas, TX PURPOSE: EDUCATION | $30,000 |
Endowment Analysis
| Beg. Balance | $7,032,337 |
| Earnings | -$1,014,792 |
| Ending Balance | $6,017,545 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |