2024-05-15T13:24:28-05:00 2023-06-30 111986323 MARCUM LLP 1601 MARKET STREET FL 4 PHILADELPHIA PA 19103 990 2022-09-01 421612131 STEPPINGSTONE SCHOLARS INC STEP 2152044012 1301 CECIL B MOORE AVE PHILADELPHIA PA 19122 SEAN E VEREEN PRESIDENT 2152044012 2024-05-14 1 SEAN VEREEN 999009999 0 FRANK SMITH P00639053 2152972100 2024-05-14 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X SEAN E VEREEN 1301 CECIL B MOORE AVE PHILADELPHIA PA 19122 9830012 0 X WWW.STEPPINGSTONESCHOLARS.ORG X 2003 PA STEPPINGSTONE SCHOLARS IS AN EDUCATIONAL SOCIAL MOBILITY ORGANIZATION. FOR LOW INCOME STUDENTS IN THE CITY OF PHILADELPHIA, THERE ARE OFTEN NO CLEAR PATHWAYS TO COLLEGE OR THE WORKFORCE. SINCE 1999, STEPPINGSTONE HAS BEEN WORKING TO ADDRESS THIS SYSTEMIC PROBLEM BY CREATING NOT JUST ONE PATHWAY, BUT MANY. X 19 18 221 50 0 0 14424710 1887278 1331795 1091208 141788 219386 0 0 15898293 3197872 54000 100096 0 0 3928543 3767174 0 0 337760 1271884 585980 5254427 4453250 10643866 -1255378 17894964 0 238785 0 17656179 0 X STEPPINGSTONE SCHOLARS IS AN EDUCATIONAL SOCIAL MOBILITY ORGANIZATION. FOR LOW INCOME STUDENTS IN THE CITY OF PHILADELPHIA, THERE ARE OFTEN NO CLEAR PATHWAYS TO COLLEGE OR THE WORKFORCE. SINCE 1999, STEPPINGSTONE HAS BEEN WORKING TO ADDRESS THIS SYSTEMIC PROBLEM BY CREATING NOT JUST ONE PATHWAY, BUT MANY. 0 0 3118873 100096 1091208 THROUGH STRATEGIC PARTNERSHIPS AND HIGH-IMPACT RESOURCING, STEPPINGSTONE OFFERS EDUCATIONALLY UNDERSERVED STUDENTS LONG-TERM, INTENSE ACADEMIC AND ENRICHMENT SUPPORT, WHICH IS UNMATCHED IN PHILADELPHIA. STEPPINGSTONE PRODUCES ENGAGED CITIZENS READY TO ENTER A DYNAMIC WORKFORCE THROUGH ROBUST COLLEGE AND CAREER PREP SUPPORT SERVICES. IN 2022-2023, WE SERVED APPROXIMATELY 2,500 STUDENTS THROUGH OUR ACADEMY, PATHWAYS AND VENTURES PROGRAMMING. 3118873 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 12 0 1 221 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X X THE ORGANIZATION 2152044012 1301 CECIL B MOORE AVE PHILADELPHIA PA 19122 ANTHONY GAY VICE CHAIR 2.00 X 0 0 0 CHANDRA KEE BOARD MEMBER 2.00 X 0 0 0 DEBORAH JR HIRTLE BOARD CHAIR 2.00 X 0 0 0 ERINN CORBETT-WRIGHT BOARD MEMBER 2.00 X 0 0 0 GARY A DEUTSCH BOARD MEMBER 2.00 X 0 0 0 GRACE LIMAYE BOARD MEMBER 2.00 X 0 0 0 GREG ANDERSON BOARD MEMBER 2.00 X 0 0 0 HON JANE C GREENSPAN BOARD MEMBER 2.00 X 0 0 0 JULIA A CONOVER TREASURER 2.00 X 0 0 0 LAUREN SULLIVAN BOARD MEMBER 2.00 X 0 0 0 MARGO LEBOVITZ BOARD MEMBER 2.00 X 0 0 0 MATTHEW HAND SECRETARY 2.00 X 0 0 0 MICHAEL J ROSS BOARD MEMBER 2.00 X 0 0 0 SEAN VEREEN PRESIDENT 40.00 X X 267938 0 10718 CHARLES HOWARD BOARD MEMBER 2.00 X 0 0 0 REGINALD BROWNE BOARD MEMBER 2.00 X 0 0 0 JACKIE BAILEY ROSS MORINIERE BOARD MEMBER 2.00 X 0 0 0 AVERY MUNNINGS BOARD MEMBER 2.00 X 0 0 0 JACKIE RANTANEN BOARD MEMBER 2.00 X 0 0 0 CHRISTOPHER AVERY VICE PRESIDENT OF PROGRAMS 40.00 X 191671 0 7667 PAIGE LEGRAND VICE PRESIDENT OF DEVELOPM 40.00 X 153079 0 0 TU-QUYEN NGUYEN CHIEF OPERATING OFFICER 40.00 X 150345 0 6014 CHANELL BATES VICE PRESIDENT OF TALENT 40.00 X 148256 0 5930 911289 0 30329 5 0 1 0 0 243331 1643947 1887278 PROGRAM INCOME 611710 1091208 1091208 1091208 180018 180018 6671508 6632140 39368 39368 39368 3197872 1091208 0 219386 100096 100096 193879 155103 19388 19388 2886004 2041345 613171 231488 95929 68060 22339 5530 326695 233916 72948 19831 264667 189503 59098 16066 56640 56640 22047 22047 128553 79168 36897 12488 2627 2627 112131 45869 54575 11687 25338 616 23737 985 25094 14551 5692 4851 16393 10809 5275 309 21657 17245 2823 1589 SCHOLAR AND FAMILY SERV 92792 92792 BOOKS AND CLASSROOM MAT 52600 52600 MISCELLANEOUS 15589 9233 1943 4413 SCHOLAR TRANSPORTATION 7967 7967 6552 44 6508 4453250 3118873 996617 337760 623729 0 522830 0 6341887 0 631586 0 0 0 0 0 0 0 0 0 9725482 0 0 0 0 49450 0 17894964 0 238785 238785 0 X 1070592 0 16585587 0 17656179 0 17894964 0 X -1255378 -88023 2866 -16315644 X X 0 1 X 1 0 X 2291470 1610986 3548631 14424710 1887278 23763075 2291470 1610986 3548631 14424710 1887278 23763075 9177383 14585692 54544 32148 125059 195369 180018 587138 24350213 5276795 0.59900 0.60540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 13901704 334507 34475 198244 14072442 4838964 9770493 -707753 13901704 4181976 21436 635802 250 4838964 3973796 33038 175392 250 4181976 3755411 40008 178377 3973796 0.00000 0.00000 0.00000 0 0 0 X 3087802 -88023 -88023 3175825 22047 22047 3197872 4431203 0 4431203 22047 22047 4453250 PART V, LINE 4: ESTABLISHED IN 2010, THE PURPOSE OF THE STEPPINGSTONE ENDOWMENT FUND IS TO CREATE A FINANCIAL RESERVE TO SUPPORT THE STEPPINGSTONE ACADEMY AND THE GENERAL OPERATIONS OF THE ORGANIZATION. THIS FUND INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENT (BOARD DESIGNATED FUNDS). AS REQUIRED BY ACCOUNTING STANDARDS, NET ASSETS ASSOCIATED WITH ENDOWMENTS FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. IN 2017, A FUNDRAISING CAMPAIGN WAS LAUNCHED WITH A GOAL TO INCREASE THE CURRENT ORGANIZATIONAL ENDOWMENT. PART X, LINE 2: MANAGEMENT OF THE ORGANIZATION CONSIDERS THE LIKELIHOOD OF CHANGES BY TAXING AUTHORITIES IN ITS FILED INCOME TAX RETURNS AND RECOGNIZES A LIABILITY FOR OR DISCLOSES POTENTIAL SIGNIFICANT CHANGES THAT MANAGEMENT BELIEVES ARE MORE LIKELY THAN NOT TO OCCUR UPON EXAMINATION BY TAX AUTHORITIES, INCLUDING CHANGES TO THE ORGANIZATION'S STATUS AS A NOT-FOR-PROFIT ENTITY. MANAGEMENT BELIEVES THE ORGANIZATION MET THE REQUIREMENTS TO MAINTAIN ITS TAX-EXEMPT STATUS AND HAS NO INCOME SUBJECT TO UNRELATED BUSINESS INCOME TAX, THEREFORE NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED IN THESE FINANCIAL STATEMENTS. THERE ARE CURRENTLY NO EXAMINATIONS PENDING OR IN PROCESS. 1 SCHOLARSHIP 32 100096 PART I, LINE 2: STEPPINGSTONE SCHOLARS PROVIDES SCHOLARSHIPS AND ENRICHMENTSHIPS TO SELECTED STUDENTS TO SUPPORT THEM WITH THEIR COLLEGE COSTS. ANY STUDENT THAT RECEIVES A SCHOLARSHIP OR ENRICHMENTSHIP FROM THE ORGANIZATION MUST REPORT TO THE ORGANIZATION AT THE START OF EACH NEW SCHOOL SEMESTER. STUDENTS MUST PROVIDE TRANSCRIPTS, FINANICAL AID INFORMATION, AND HAVE A VIRTUAL CHECK-IN WITH AN ADVISOR BEFORE THEY'RE ABLE TO RECEIVE THEIR NEXT PAYMENT. SCHOLARSHIPS ARE PROVIDED DIRECTLY TO THE STUDENT'S HIGHER EDUCATION INSTITUTION. X X X 0 0 0 0 0 0 0 0 0 SEAN VEREEN PRESIDENT 267938 0 0 0 0 0 10718 0 0 0 278656 0 0 0 CHRISTOPHER AVERY VICE PRESIDENT OF PROGRAMS 191671 0 0 0 0 0 7667 0 0 0 199338 0 0 0 TU-QUYEN NGUYEN CHIEF OPERATING OFFICER 150345 0 0 0 0 0 6014 0 0 0 156359 0 0 0 CHANELL BATES VICE PRESIDENT OF TALENT 148256 0 0 0 0 0 5930 0 0 0 154186 0 0 0 PAIGE LEGRAND VICE PRESIDENT OF DEVELOPM 153079 0 0 0 0 0 0 0 0 0 153079 0 0 0 PART I, LINE 3 THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S SALARY ANNUALLY. THERE IS NO COMPENSATION FOR BOARD MEMBERS. CASH 2023-06-30 109793 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) INVESTMENTS 2023-06-30 9838348 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) ACCOUNT RECEIVABLES 2023-06-30 941059 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) PLEDGES RECEIVABLE 2023-06-30 1087960 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) DUE FROM HEIGHTS PHILADELPHIA 2023-06-30 5499749 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) DUE TO HEIGHTS PHILADELPHIA 2023-06-30 -1305050 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) OTHER MERGER EXPENSES 2023-06-30 -13424 BASED ON ORGANIZATION'S FINANCIAL STATEMENTS 231365983 HEIGHTS PHILADELPHIA 123 S BOARD STREET SUITE 850 PHILADELPHIA PA 19109 501(C)(3) 1 1 1 1 1 1 1 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: DEBORAH HIRTLE, ANTHONY GAY, JULIA CONOVER, MARGOT LEBOVITZ, REGINALD BROWNE, ERINN CORBETT-WRIGHT, GARY DEUTSCH, HON. JANE GREENSPAN, MATTHEW HAND, REV. CHARLES HOWARD, CHANDRA KEE, GRACE LIMAYE, JACKIE BAILEY ROSS, AVERY MUNNINGS, JACKIE RANTANEN, MICHAEL ROSS, LAUREN SULLIVAN, SEAN VEREEN, CHRIS AVERY, TU-QUYEN NGUYEN, PAIGE LEGRAND PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: DEBORAH HIRTLE BECOMES CO-CHAIR OF HEIGHTS PHILADELPHIA UPON MERGER;ANTHONY GAY BECOMES CO-VICE CHAIR OF HEIGHTS PHILADELPHIA UPON MERGER;JULIA CONOVER BECOMES CO-TREASURER OF HEIGHTS PHILADELPHIA UPON MERGER;MARGOT LEBOVITZ BECOMES ASST. SECRETARY OF HEIGHTS PHILADELPHIA UPON MERGER; REGINALD BROWNE, ERINN CORBETT-WRIGHT, GARY DEUTSCH, HON. JANE GREENSPAN, MATTHEW HAND, REV. CHARLES HOWARD, CHANDRA KEE, GRACE LIMAYE, JACKIE BAILEY ROSS, AVERY MUNNINGS, JACKIE RANTANEN, MICHAEL ROSS, AND LAUREN SULLIVAN BECOME BOARD MEMBERS OF HEIGHTS PHILADELPHIA UPON MERGER; SEAN VEREEN BECOMES CO-PRESIDENT AND CEO OF HEIGHTS PHILADELPHIA UPON MERGER;CHRIS AVERY BECOMES VICE PRESIDENT FOR K-12 PROGRAMS OF HEIGHTS PHILADELPHIA UPON MERGER; TU-QUYEN NGUYEN BECOMES VICE PRESIDENT OF OPERATIONS OF HEIGHTS PHILADELPHIA UPON MERGER;PAIGE LEGRAND BECOMES VICE PRESIDENT OF ADVANCEMENT OF HEIGHTS PHILADELPHIA UPON MERGER PART I, LINE 3: STEPPINGSTONE SCHOLARS (STEPPINGSTONE) AND PHILADELPHIA FUTURES (FUTURES) ANNOUNCED IN MAY 2022 THAT THEIR RESPECTIVE EDUCATIONAL NON-PROFIT ORGANIZATIONS PLANNED TO MERGE. THIS DECISION WAS MADE AFTER A COMPREHENSIVE 18-MONTH PERIOD OF DUE DILIGENCE AND ORGANIZATIONAL COLLABORATION, WHICH WAS FUNDED BY THE WILLIAM PENN FOUNDATION AND THE NONPROFIT REPOSITIONING FUND, AND UNANIMOUSLY APPROVED BY THE RESPECTIVE BOARDS OFDIRECTORS FOR FUTURES AND STEPPINGSTONE ON MAY 24, 2022. THE NEW ORGANIZATION WAS NAMED HEIGHTS PHILADELPHIA AND RECEIVED APPROVAL FROM THE COURT OF COMMON PLEAS OF PHILADELPHIA'S ORPHANS' COURT FOR THE MERGER ON NOVEMBER 18, 2022. THE ORGANIZATIONS COMPLETED THE MERGER AND THE NET ASSETS OF STEPPINGSTONE WERE TRANSFERRED TO HEIGHTS PHILADELPHIA AS OF JUNE 30, 2023. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNANCE COMMITTEE SHALL NOMINATE PERSONS TO SERVE AS DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES ALL INDIVIDUALS ON THE BOARD OF DIRECTORS WITH THE FORM 990 BEFORE FILING. THE FINANCE COMMITTEE REVIEWS THE FORM 990 ALONG WITH A COPY OF THE YEAR-END FINANCIAL STATEMENTS TO MAKE SURE IT IS ERROR FREE AND CONSISTENT. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH PERIODIC REVIEW AND ANNUAL STATEMENTS. THE BOARD OF DIRECTORS PROVIDES FOR A SYSTEM OF PERIODIC REVIEWS TO ENSURE COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICY AND THAT THE CORPORATION'S OPERATIONS DO NOT RESULT IN ANY IMPERMISSIBLE PRIVATE BENEFIT. EACH DIRECTOR AND OFFICER OF THE CORPORATION ANNUALLY SIGNS A STATEMENT TO THE EFFECT THAT HE OR SHE HAS RECEIVED, READ, UNDERSTANDS AND AGREES TO COMPLY WITH THE PROVISIONS OF THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S SALARY ANNUALLY. THERE IS NO COMPENSATION FOR BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 18 GUIDESTAR AND UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 WITH A DIRECT REQUEST TO THE ORGANIZATION, THE ORGANIZATION WILL MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: MERGER RELATED EXPENSE -157,209. TRANSFER OF ASSETS DUE TO MERGER -16,158,435. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR FILING.