2025-01-16T14:56:17-06:00 2024-09-30 251031405 MCGILL POWER BELL & ASSOC LLP 2402 W 8TH STREET ERIE PA 16505 990 2023-10-01 251394365 FOUNDATION FOR FREE ENTERPRISE EDUCATION FOUN 8148339576 3076 WEST 12TH STREET ERIE PA 16505 KAREN M MUSANTE PRESIDENT AND CEO 8148339576 2025-01-15 1 0 MATTHEW C ZINNA P02394873 8144536594 2023 2024-10-15 13:58:12Z KAREN M MUSANTE 3076 WEST 12TH STREET ERIE PA 16505 2571170 0 X WWW.PFEW.ORG X 1979 PA TO HEIGHTEN THE AWARENESS OF PENNSYLVANIA'S YOUTH ABOUT THEIR FUTURE ROLE IN THE AMERICAN FREE ENTERPRISE SYSTEM BY DELIVERING HIGH-QUALITY AND PRACTICAL HANDS-ON EDUCATIONAL EXPERIENCES. THE FOUNDATION ALSO BECAME THE EXCLUSIVE PENNSYLVANIA COORDINATOR FOR THE STOCK MARKET GAME (SMG). SMG IS AN INTERNATIONALLY ACCLAIMED INTERACTIVE IN-SCHOOL PROGRAM THAT TEACHES STUDENTS IN GRADES 4-12 ABOUT GLOBAL CAPITAL MARKETS, INVESTING AND PERSONAL FINANCE. 30 30 32 181 0 0 1275261 1275185 471441 546671 132767 285341 0 0 1879469 2107197 0 0 0 0 756626 837196 0 0 221460 664130 701367 1420756 1538563 458713 568634 6450985 7935592 421069 444602 6029916 7490990 X SEE PROGRAM SERVICE ACCOMPLISHMENTS BELOW 0 0 871415 546671 THE FOUNDATION FOR FREE ENTERPRISE EDUCATION SUCCESSFULLY OPERATED THREE EXPERIENTIAL YOUTH EDUCATION PROGRAMS THAT IMPACTED MORE THAN 16,000 YOUNG PENNSYLVANIANS IN 2024. PENNSYLVANIA FREE ENTERPRISE WEEK (PFEW) TEACHES HIGH SCHOOL STUDENTS ABOUT MODERN BUSINESS AND FREE ENTERPRISE AND HELPS THEM DEVELOP RELEVANT, JOB-READY SKILLS. PFEW OPERATED FIVE WEEK-LONG SUMMER SESSIONS ON THE CAMPUSES OF LYCOMING COLLEGE AND PENNSYLVANIA COLLEGE OF TECHNOLOGY IN WILLIAMSPORT, PA, EDUCATING 1,853 STUDENTS STATEWIDE. THE STOCK MARKET GAME (SMG) CONTINUED TO GROW, EDUCATING A RECORD 10,077 STUDENTS DURING THE 2023-2024 SCHOOL YEAR. SMG TEACHES STUDENTS ABOUT INVESTING, CAPITAL MARKETS AND FINANCIAL LITERACY. THE SPEAKER SERIES GREW AGAIN IN 2024, ADDING MORE CAREER EXPLORATION VIDEOS AND REGIONAL PROGRAMS. IN TOTAL, THE SPEAKER SERIES, OUR YOUTUBE CHANNEL, PFEW PLAYLISTS AND SMG DIGITAL CONTENT HAS ACCUMULATED MORE THAN 75,000 VIEWS. IN 2024, THE SPEAKER SERIES ADDED A REGIONAL OPPORTUNITIES SECTION FEATURING SCHOLARSHIP, INTERNSHIP, LEADERSHIP, AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES AVAILABLE IN 56 COUNTIES OF PA. 871415 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 12 0 1 32 1 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KAREN M MUSANTE 8148339576 3076 WEST 12TH STREET ERIE PA 16505 CHAD M AMOND DIRECTOR 1.00 X 0 0 0 DARLENE J ROBBINS DIRECTOR 1.00 X 0 0 0 DAVID A CAMPBELL DIRECTOR 1.00 X 0 0 0 DAVID N TAYLOR DIRECTOR 1.00 X 0 0 0 GARY M GOSS DIRECTOR 1.00 X 0 0 0 GENE BARR DIRECTOR 1.00 X 0 0 0 GEORGE M BOOK JR DIRECTOR 1.00 X 0 0 0 JAMES KILGALLON DIRECTOR 1.00 X 0 0 0 JASON C FINK DIRECTOR 1.00 X 0 0 0 JON G WHITEMAN VICE CHAIRMAN/ASSISTANT TR 1.00 X X 0 0 0 JOSEPH D HURD DIRECTOR 1.00 X 0 0 0 KATIE E CLARKE VICE CHAIRPERSON 1.00 X X 0 0 0 KEVIN SHIVERS CHAIRMAN 1.00 X X 0 0 0 KEVIN W DAVIS DIRECTOR 1.00 X 0 0 0 KYLE P WHERRITY DIRECTOR 1.00 X 0 0 0 LAWRENCE E RYBACKI EMERITUS DIRECTOR 1.00 X 0 0 0 LINDSAY GRIFFIN-BOYLAN DIRECTOR 1.00 X 0 0 0 LOWMAN S HENRY SECRETARY 1.00 X X 0 0 0 MARK A KARENCHAK DIRECTOR 1.00 X 0 0 0 MARK J PIETRUSINSKI DIRECTOR 1.00 X 0 0 0 NICK N SCOTT JR DIRECTOR 1.00 X 0 0 0 PATRICIA A BAUN DIRECTOR 1.00 X 0 0 0 PAUL J WARD ESQ TREASURER 1.00 X X 0 0 0 ROBERT J WETZEL ESQ EMERITUS DIRECTOR 1.00 X 0 0 0 RUDOLPH D FRANK DIRECTOR 1.00 X 0 0 0 RUSSELL P BROOKS IMMEDIATE PAST CHAIRMAN 1.00 X X 0 0 0 RYAN L NEWMAN DIRECTOR 1.00 X 0 0 0 SCOTT R WYMAN DIRECTOR 1.00 X 0 0 0 THOMAS PALISIN DIRECTOR 1.00 X 0 0 0 DAVIE J GILMOUR DIRECTOR 1.00 X 0 0 0 CARL A MARRARA DIRECTOR 1.00 X 0 0 0 TARA MURRAY DIRECTOR 1.00 X 0 0 0 KAREN M MUSANTE PRESIDENT & CEO 40.00 X 167094 0 20408 167094 0 20408 1 0 1 0 0 1275185 19999 1275185 REGISTRATION FEES 611710 539953 539953 OTHER INCOME 611710 6718 6718 546671 240444 240444 508370 500 463973 0 44397 500 44897 44897 2107197 546671 0 285341 189213 75685 56764 56764 524830 295604 124060 105166 40456 18790 14743 6923 28579 13273 10415 4891 54118 24353 18942 10823 45038 45038 12409 12409 70336 195 50700 19441 34231 4132 17597 12502 14555 41 14514 3845 3845 35188 21440 13592 156 250 250 28282 28282 20524 20524 STUDENT ROOM AND BOARD 381280 381280 0 0 COMPANY ADVISORS 35212 35212 0 0 CONTRACT LABOR 16514 1410 10310 4794 UNCOLLECTIBLE PLEDGES 2085 0 2085 0 1618 1618 1538563 871415 445688 221460 492156 556660 245888 276822 31040 30939 32325 30280 652112 240431 328938 411681 5320638 6629210 6450985 7935592 421069 444602 421069 444602 X 5656098 7055552 373818 435438 6029916 7490990 6450985 7935592 568634 892440 0 X X 0 1 X 1 0 X 968464 1558761 1197846 1275261 1275185 6275517 968464 1558761 1197846 1275261 1275185 6275517 505770 5769747 136739 122583 284626 223737 240444 1008129 3606 3606 7287252 1920065 0.79180 0.79330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 253397 11155 62120 9904 1841 314927 215086 20305 25164 5560 1598 253397 257736 12014 -45037 7500 2127 215086 192808 36723 34312 5000 1107 257736 178435 15729 1356 192808 0 0 143318 143318 351251 149051 202200 157543 91380 66163 411681 4758444 892440 1803845 2696285 2062159 45038 45038 2107197 3297370 1803845 1803845 1493525 45038 45038 1538563 PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO PROVIDE FINANCIAL SUPPORT TO THE FOUNDATION FOR OPERATIONS AND CAPITAL PROJECTS. SCHEDULE D, PART X, LINE 2: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. X X X X 0 0 0 0 0 0 0 0 0 KAREN M MUSANTE PRESIDENT & CEO 142459 0 20885 0 3750 0 14651 0 5757 0 187502 0 0 0 AMBER GOSS GRANDAUGHTER OF A BOARD MEMBER 65445 EMPLOYMENT 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS DISTRIBUTED ELECTRONICALLY TO ALL BOARD MEMBERS FOR REVIEW AND/OR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND KEY EMPLOYEES ANNUALLY COMPLETE AND SUBMIT A WRITTEN QUESTIONNAIRE CONCERNING ANY POSSIBLE CONFLICTS OF INTEREST. THESE QUESTIONNAIRES, ALONG WITH A STATEMENT OF DECLARATION, ARE MAINTAINED IN THE FOUNDATION'S CORPORATE RECORDS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REGULARLY RESEARCHES AND OBTAINS SALARY/COMPENSATION INFORMATION OF CEOS OF COMPARABLE ORGANIZATIONS (SIZE, SCOPE, PURPOSE) WHEN DELIBERATING ANNUAL COMPENSATION PACKAGE FOR CEO. THIS INFORMATION IS DISSEMINATED TO AND DISCUSSED WITH BOTH THE EXECUTIVE COMPENSATION COMMITTEE AND THE EXECUTIVE COMMITTEE OF THE ORGANIZATION FOR REVIEW AND SUBSEQUENT DETERMINATION OF SALARY/BENEFIT CHANGES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS COMMUNICATES INFORMATION TO THE INDEPENDENT AUDITORS CONCERNING POSSIBLE RISKY AREAS AND INSTANCES OR SUSPICIONS OF FRAUD. THE AUDITORS COMMUNICATE WITH THE BOARD OF DIRECTORS DURING THE PLANNING AND CONCLUSION STAGES OF THE AUDIT. THERE HAVE BEEN NO CHANGES IN THE OVERSIGHT OF THE AUDITORS SINCE THE PRIOR YEAR.