2025-05-13T17:26:10-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2023-07-01 222567982 THE PHILADELPHIA EDUCATION FUND PHIL 2156651400 718 ARCH STREET 700N PHILADELPHIA PA 19106 FARAH JIMENEZ PRESIDENT AND CEO 2156651400 2025-05-09 1 0 MALLORY GOOD P01704765 2156433900 2025-05-09 2023 2025-03-06 01:10:19Z FARAH JIMENEZ 718 ARCH STREET 700N PHILADELPHIA PA 19106 4722079 0 X WWW.PHILAEDFUND.ORG X 1984 PA CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS. 25 25 36 110 0 0 2794017 3629936 750223 608514 322936 433442 583 11985 3867759 4683877 625332 695474 0 0 2221307 2595729 0 0 252697 1257288 1273001 4103927 4564204 -236168 119673 13102729 13864955 1198321 1283918 11904408 12581037 X THE MISSION OF THE PHILADELPHIA EDUCATION FUND (PEF) IS TO CREATE EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS BY PROVIDING RESOURCES AND EXPERTISE THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS. WE FOCUS ON PHILADELPHIA STUDENTS ATTENDING PUBLIC SCHOOLS WITH LOW GRADUATION, PERSISTENCE, COLLEGE ENROLLMENT, AND COLLEGE COMPLETION RATES. WE CONSIDER OUR EFFORTS CRITICAL IN A CITY WITH A HIGH SCHOOL GRADUATION RATE OF 69% (VS. 85% NATIONWIDE), A RANK OF 92 OUT OF 100 IN COLLEGE ATTAINMENT, AND IN WHICH 25% OF THE POPULATION LIVES IN POVERTY. WE SEEK TO FULFILL OUR MISSION AND VISION BY EMBEDDING A COLLEGE- AND CAREER-GOING FRAMEWORK IN THE PHILADELPHIA PUBLIC SCHOOL SYSTEM; DESIGNING AND DELIVERING A MODEL SYSTEM OF IN-PERSON AND SCHOOL-BASED, AS WELL AS ONLINE AND VIRTUAL COLLEGE-AND CAREER-GOING SUPPORTS; ALIGNING INSTRUCTION ACROSS SECONDARY AND POSTSECONDARY INSTITUTIONS; RESOURCING STUDENTS WITH SCHOLARSHIP AID; AND SUPPORTING STUDENTS, EDUCATORS, DISTRICTS AND COMMUNITIES. 0 0 2925825 695474 608514 DIRECT SERVICES TO STUDENTS: THE GOAL OF THE DIRECT SERVICE PROGRAMS IS TO CREATE PATHWAYS TO COLLEGE AND CAREER BY BRINGING THE DREAM OF A COLLEGE EDUCATION WITHIN REACH OF PUBLIC SCHOOL GRADUATES BY PROVIDING INFORMATION AND GUIDANCE ABOUT THE STEPS STUDENTS NEED TO TAKE TO PREPARE FOR COLLEGE AND BY HELPING STUDENTS SECURE THE NECESSARY FUNDS TO ATTEND COLLEGE. WORKING IN PARTNERSHIP WITH THE SCHOOL DISTRICT OF PHILADELPHIA, HIGHER EDUCATION, COMMUNITY GROUPS, AND BUSINESSES, THESE PROGRAMS ENHANCE THE SCHOOL CURRICULUM BY PROVIDING COLLEGE ADVISORY SERVICES AND PREPARATORY WORKSHOPS, STANDARDIZED TEST PREPARATION, ACADEMIC ENRICHMENT PROGRAMS, AND OTHER "HANDS-ON" ASSISTANCE TO THOUSANDS OF CITY STUDENTS (CONTINUED ON SCHEDULE O).THROUGH OUR PHILADELPHIA SCHOLARS PROGRAM, THE ED FUND STEWARDS AN ENDOWMENT THAT AWARDS GAP-FILLING LAST-DOLLAR COLLEGE SCHOLARSHIPS TO MORE THAN 100 ELIGIBLE STUDENTS ANNUALLY AND SUPPORTS RECIPIENTS IN COLLEGE RETENTION, PERSISTENCE AND COMPLETION THROUGH COMPLEMENTARY PROGRAMMING, INCLUDING WORKSHOPS, RESOURCE SHARING, MENTORSHIP, AND APPLICATION ASSISTANCE TO SPECIALIZED THIRD-PARTY SCHOLARSHIPS THAT LEVERAGE THE PHILADELPHIA SCHOLARS AWARD. 1066390 0 0 TEACHING AND LEARNING:THROUGH THE ED FUND'S SCHOOL SERVICES PROGRAMMING, THE ED FUND SUPPORTS SCHOOLS, NONPROFITS, AND TEACHERS THROUGH PROFESSIONAL DEVELOPMENT AND SUPPORTS IN CREATING COLLEGE GOING SCHOOL-BASED CULTURES. 3992215 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 1 36 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X THE PHILADELPHIA EDUCATION FUND 2156651400 718 ARCH STREET 700N PHILADELPHIA PA 19106 JOHN GINELLI CHAIR 2.00 X X 0 0 0 JOANN MITCHELL VICE CHAIR 1.50 X X 0 0 0 TOM BALL TREASURER 1.50 X X 0 0 0 JULIANA MOSLEY-WILLIAMS SECRETARY 1.50 X X 0 0 0 CHERYL BAXTER MEMBER 1.00 X 0 0 0 MARK BLASKEY MEMBER 1.00 X 0 0 0 STEVEN BRADLY MEMBER 1.00 X 0 0 0 VALERIE BROWN MEMBER 1.00 X 0 0 0 RICHARD CORCORAN MEMBER 1.00 X 0 0 0 RIPLEY DWYER MEMBER 1.00 X 0 0 0 PHILLIP GABLER MEMBER 1.00 X 0 0 0 LA-TOYA P HACKNEY MEMBER 1.00 X 0 0 0 ASIM HAQUE MEMBER 1.00 X 0 0 0 BRAD HODE MEMBER 1.00 X 0 0 0 ALQUON HODGES MEMBER 1.00 X 0 0 0 SUSAN LORENZ-FISHER MEMBER 1.00 X 0 0 0 THOMAS MORRISON MEMBER 1.00 X 0 0 0 PEDRO RIVERA MEMBER 1.00 X 0 0 0 SHAWN SAMUEL MEMBER 1.00 X 0 0 0 MARGARET STEELE MEMBER 1.00 X 0 0 0 BRANDEN SWEETSER MEMBER 1.00 X 0 0 0 KIMBERLY TOMBASCO MEMBER 1.00 X 0 0 0 KIMBERLY TYLER-BENNS MEMBER 1.00 X 0 0 0 GREG VERNICK MEMBER 1.00 X 0 0 0 FARAH JIMENEZ PRESIDENT AND CEO 35.00 X 192500 0 12416 192500 0 12416 1 0 1 0 0 86029 1059793 2484114 3629936 CONTRACT REVENUE 611710 608514 608514 608514 409129 409129 10000 0 10000 10000 10000 40000 15687 24313 24313 24313 24500 86029 22515 1985 1985 4683877 608514 0 445427 695474 695474 212143 141626 49303 21214 2022207 1900431 25501 96275 57154 50940 2359 3855 117533 107469 2530 7534 186692 166393 7705 12594 134114 15296 96632 22186 361780 303899 57881 12650 9650 3000 66457 55353 7213 3891 56898 56598 300 107453 87688 9842 9923 59777 57319 2397 61 105070 99861 4320 889 15286 15286 66608 66608 HONORIA AND STIPENDS 165514 165463 51 DUES AND SUBSCRIPTIONS 86009 56572 15694 13743 REPAIRS AND MAINTENANCE 21244 15729 4112 1403 14141 6454 6490 1197 4564204 3992215 319292 252697 552257 679989 2511236 1863071 1758264 1277669 218970 122129 21725 10373 783050 757795 30463 25255 7819415 9778138 190399 108331 13102729 13864955 258494 255577 764861 934337 174966 94004 1198321 1283918 X 1407846 1234004 10496562 11347033 11904408 12581037 13102729 13864955 119673 556956 0 X 0 1 X 1 1 1 X 4453676 2839970 6186381 2794017 3629936 19903980 4453676 2839970 6186381 2794017 3629936 19903980 6132722 13771258 137719 131415 262862 211682 409129 1152807 5653 5653 21062440 1612891 0.65380 0.67560 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 5,653. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 203121 196472 6649 534225 515619 18606 45704 45704 0 25255 LEASE LIABILITIES - OPERATING, NET 94004 94004 X 5263348 556956 556956 4706392 -22515 -22515 4683877 4586719 22515 22515 4564204 0 4564204 PART X, LINE 2: THE ED FUND IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE ED FUND IS EXEMPT FROM FEDERAL, STATE AND LOCAL INCOME TAXES. MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF THE ED FUND AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR FURTHER DISCLOSURES IN THE NOTES TO THE FINANCIAL STATEMENTS. THE ED FUND FILES ANNUAL INFORMATION RETURNS WHICH ARE SUBJECT TO AUDITS BY TAXING JURISDICTIONS; HOWEVER, NO AUDITS FOR ANY PERIODS ARE CURRENTLY IN PROGRESS. MANAGEMENT BELIEVES THAT THE ED FUND IS NO LONGER SUBJECT TO SUCH AUDITS FOR YEARS PRIOR TO 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -22,515. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 22,515. EDUCATE PHILLY GALA 110529 86029 24500 15300 7215 110529 86029 24500 15300 7215 22515 1985 1 GRANTS AND SCHOLARSHIPS 149 695474 N/A N/A PART I, LINE 2: THE PHILADELPHIA EDUCATION FUND (PEF) SCHOLARS PROGRAM PROVIDES NEED-BASED, "LAST DOLLAR" SCHOLARSHIPS TO GRADUATES OF 12 PUBLIC AND CHARTER HIGH SCHOOLS ACROSS PHILADELPHIA. SINCE ITS INCEPTION IN 1990, PEF HAS AWARDED MORE THAN $18 MILLION TO MORE THAN 4,000 STUDENTS. IN ADDITION TO PROVIDING SCHOLARSHIP DOLLARS TO ATTEND COLLEGE, THE SCHOLARS PROGRAM PROVIDES ONGOING COLLEGE SUPPORT THROUGH WORKSHOPS AND 1-1 COUNSELING. SCHOLARSHIP DISBURSEMENTS ARE MADE FOR THE FALL AND SPRING SEMESTERS DIRECTLY TO THE RECIPIENT'S COLLEGE. IF THE STUDENT'S ENROLLMENT STATUS CHANGES, THE COLLEGE'S FINANCIAL AID OFFICE IS REQUESTED TO CONTACT PEF AND RETURN THE SCHOLARSHIP CHECK.THE SCHOLARS PROGRAM ALSO WORKS IN CONJUNCTION WITH PEF'S COLLEGE ACCESS PROGRAM, WHICH HELPS STUDENTS SUCCESSFULLY APPLY AND MATRICULATE TO COLLEGE VIA IN-PERSON COUNSELING, COLLEGE VISITS, FAFSA AND FINANCIAL AID WORKSHOPS, AND RELATED SUPPORT FROM 9TH THROUGH 12TH GRADE. X X X X 0 0 0 0 0 0 0 1 0 FARAH JIMENEZ PRESIDENT AND CEO 192500 0 0 0 0 0 0 0 12416 0 204916 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS THE POWER TO ACT FOR THE BOARD OF DIRECTORS BETWEEN ITS REGULAR MEETINGS, WITH THE EXCEPTION OF TO ACT ON MATTERS COMMITTED BY RESOLUTION OF THE BOARD OF DIRECTORS TO ANOTHER COMMITTEE OF THE BOARD OF DIRECTORS AND TO APPROVE FUNDAMENTAL TRANSACTIONS. THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR, THE VICE CHAIR, THE SECRETARY, THE TREASURER, AND OTHER SUCH DIRECTORS AS THE BOARD OF DIRECTORS MAY DESIGNATE FROM TIME TO TIME. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE DRAFT OF THE FORM 990 AND REQUIRED SCHEDULES ARE DISTRIBUTED ELECTRONICALLY TO EACH VOTING BOARD MEMBER THROUGH EMAIL PRIOR TO FILING. EACH MEMBER IS ASKED TO REVIEW THE FORM 990 AND PROVIDE COMMENTS, QUESTIONS AND CONCERNS BY A SPECIFIED DATE. ALL BOARD MEMBER RESPONSES RECEIVED BY THE DUE DATE ARE ADDRESSED. ONCE THE DUE DATE FOR RESPONDING HAS PASSED AND ALL REQUIRED CHANGES ARE MADE, THE FORM 990 IS CONSIDERED FINAL AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ED FUND REQUIRES ALL BOARD MEMBERS AND EMPLOYEES TO COMPLETE THE CONFLICT OF INTEREST FORM ANNUALLY. IN ADDITION, THE CONFLICT OF INTEREST POLICY INCLUDES A DUTY TO TIMELY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT. ANY CONFLICTS DISCLOSED ARE REVIEWED BY THE ED FUND'S EXECUTIVE COMMITTEE WHERE A FINAL DETERMINATION IS MADE. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT AND CEO'S COMPENSATION WAS DETERMINED, UPON INITIAL HIRE, BY THE ED FUND EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE UTILIZED COMPARABILITY DATA OF OTHER NONPROFIT ORGANIZATIONS OF SIMILAR SIZE, THE BUDGET, AND THE RECOMMENDATIONS MADE BY AN OUTSIDE EXECUTIVE RECRUITING AGENCY. INITIAL COMPENSATION WAS SUBJECT TO FINAL APPROVAL BY THE BOARD CHAIR. SUBSEQUENT INCREASES AND BONUSES RELY ON THAT SAME COMPARABILITY DATA, ARE APPROVED BY THE EXECUTIVE COMMITTEE, AND ARE TIMELY DOCUMENTED. THIS PROCESS WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ED FUND MAKES CERTAIN GOVERNING DOCUMENTS AVAILABLE UPON WRITTEN REQUEST. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.