Pennsbury Scholarship Foundation
- Assets
- $4.2m
- Revenue
- $157.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fallsington, PA
- Founding
- 01/1959
- Data as of
- 12/2020
- EIN
- 23-6390934
Organization Overview
Pennsbury Scholarship Foundation is located in Fallsington, PA. The organization was established in 1959. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsbury Scholarship 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 12/2020, Pennsbury Scholarship Foundation generated $157.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $118.0k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SINCE 1956, THE PENNSBURY SCHOLARSHIP FOUNDATION HAS EXISTED TO HELP DESERVING PENNSBURY GRADUATES ACHIEVE THEIR GOAL OF HIGHER EDUCATION THROUGH SCHOLARSHIP GRANTS AND LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND INTEREST-FREE LOANS GRANTED TO PENNSBURY HIGH SCHOOL GRADUATES WHO MEET CERTAIN CRITERIA. IN 2020, A TOTAL OF 83 SCHOLARSHIPS WERE GRANTED: 47 TO SENIORS AND 36 TO GRADUATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lou Bradley Assistant Treasurer | OfficerTrustee | 2 | $0 |
Louise Harman Treasurer | OfficerTrustee | 2 | $0 |
Alan Chrzanowski President | OfficerTrustee | 2 | $0 |
Keller Arnold First VP - Investments | OfficerTrustee | 2 | $0 |
Vickie Brunozzi Secretary | OfficerTrustee | 2 | $0 |
Jeffrey Sibner Vice President | OfficerTrustee | 2 | $0 |
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 | $34,878 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,878 |
| Total Program Service Revenue | $0 |
| Investment income | $69,912 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,368 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $157,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $72,725 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $5,589 |
| All other expenses | $177 |
| Total functional expenses | $117,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,388 |
| Savings and temporary cash investments | $260,267 |
| 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 | $347,200 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,481 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,112,288 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $493,253 |
| Total assets | $4,229,877 |
| 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 | $3,744,127 |
| Net assets with donor restrictions | $485,750 |
| 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 | $4,229,877 |
Endowment Analysis
| Beg. Balance | $445,651 |
| Earnings | $56,599 |
| Grants | $16,500 |
| Ending Balance | $485,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |