2023-05-11T14:19:18-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2021-07-01 222567982 THE PHILADELPHIA EDUCATION FUND PHIL 2156651400 718 ARCH STREET 700N PHILADELPHIA PA 19106 FARAH JIMENEZ PRESIDENT AND CEO 2156651400 2023-05-11 1 FARAH JIMENEZ 999009999 WILLIAM A LOUGHERY P01603932 2156433900 2023-05-11 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z FARAH JIMENEZ 718 ARCH STREET 700N PHILADELPHIA PA 19106 7683411 0 X WWW.PHILAEDFUND.ORG X 1984 PA CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS. 20 20 27 69 0 0 2839970 6186381 72100 160931 627457 401820 15000 3458 3554527 6752590 538620 530450 0 0 1660442 1785988 0 0 11687 757656 802218 2956718 3118656 597809 3633934 9790760 12054730 400701 441503 9390059 11613227 X THE PHILADELPHIA EDUCATION FUND (THE ED FUND) CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS BY PROVIDING RESOURCES AND EXPERTISE THAT BUILD PATHS TO COLLEGE AND CAREER SUCCESS. PEF'S VISION IS FOR ALL YOUNG PEOPLE IN PHILADELPHIA TO HAVE THE SKILLS AND OPPORTUNITY TO SUCCEED IN COLLEGE AND CAREER. WE SEEK TO FULFILL OUR MISSION AND VISION BY EMBEDDING AN EXCELLENT COLLEGE-AND CAREER-GOING FRAMEWORK IN THE PHILADELPHIA PUBLIC SCHOOL SYSTEM; DESIGNING AND DELIVERING A MODEL SYSTEM OF COLLEGE-AND CAREER-GOING SUPPORTS; ALIGNING INSTRUCTIONS ACROSS SECONDARY AND POSTSECONDARY INSTITUTIONS, AND SUPPORTING STUDENTS, EDUCATORS, DISTRICTS AND COMMUNITIES IN ADVANCING EQUITABLE ACCESS TO HIGH QUALLITY STEM EDUCATION. 0 0 2000265 530450 160931 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. 506861 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. 2507126 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 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 25 0 27 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 20 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 FARAH JIMENEZ PRESIDENT AND CEO 35.00 X 160000 0 11324 NANCY PETER DIRECTOR OF STEM 40.00 X 100410 0 34767 JOHN G GINELLI CHAIR 2.00 X X 0 0 0 JOANN MITCHELL VICE CHAIR 1.50 X X 0 0 0 SIOBHAN REARDON TREASURER 1.50 X X 0 0 0 MARK SILOW SECRETARY 1.50 X X 0 0 0 DAVID BAKER MEMBER 1.00 X 0 0 0 TOM BALL MEMBER 1.00 X 0 0 0 VALERIE E BROWN MEMBER 1.00 X 0 0 0 RICHARD CORCORAN MEMBER 1.00 X 0 0 0 ALEKSANDRA DAVIS MEMBER 1.00 X 0 0 0 PATRICIA DAY MEMBER 1.00 X 0 0 0 DONALD DILORETO 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 SOPHIA LEE MEMBER 1.00 X 0 0 0 SUSAN LORENZ-FISHER MEMBER 1.00 X 0 0 0 MELINDA MARCHESI MEMBER 1.00 X 0 0 0 THOMAS MORRISON MEMBER 1.00 X 0 0 0 JULIANA MOSLEY-WILLIAMS MEMBER 1.00 X 0 0 0 MARKUS WEIDNER MEMBER 1.00 X 0 0 0 260410 0 46091 2 0 1 0 YOUR PART TIME CONTROLLER PO BOX 1209 MOUNT LAUREL NJ 08054 ACCOUNTING 112655 1 146986 1224002 4815393 6186381 CONTRACT REVENUE 611710 160931 160931 160931 247853 247853 15009 0 15009 15009 15009 1061037 907070 153967 153967 153967 12200 146986 23751 -11551 -11551 6752590 160931 0 405278 530450 530450 277964 194575 83389 1233314 1204634 23119 5561 27253 25758 1457 38 129580 126877 2497 206 117877 111412 6300 165 136115 136115 291517 144739 146778 324 324 41971 20266 21218 487 53054 48157 4897 108804 7200 101604 11817 11582 235 6000 4249 1751 14641 14641 27305 27305 HONORIA AND STIPENDS 47281 47281 DUES AND SUBSCRIPTIONS 39239 23465 11838 3936 REPAIR AND MAINTENANCE 9266 861 8234 171 14884 5296 8465 1123 3118656 2507126 599843 11687 169972 161039 1590203 2848387 37085 2228480 571964 2780 11868 33150 762340 725045 40056 37295 7352239 6726226 17373 17373 9790760 12054730 48158 199538 45687 241965 306856 400701 441503 X 772095 1209343 8617964 10403884 9390059 11613227 9790760 12054730 3633934 -1410766 0 X 0 1 X 1 1 1 X 1763917 1845834 4453676 2839970 6198581 17101978 1763917 1845834 4453676 2839970 6198581 17101978 3868558 13233420 146906 193652 137719 131415 130910 740602 5653 5653 17848233 1073174 0.74140 0.78320 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 5,653. 2021 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 203121 179664 23457 513515 502955 10560 45704 42426 3278 37295 X 5365575 -1410766 -1410766 6776341 -23751 -23751 6752590 3142407 23751 23751 3118656 0 3118656 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 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -23,751. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 23,751. EDUCATE PHILLY GALA 159186 146986 12200 1600 3103 9298 9750 159186 146986 12200 1600 3103 9298 9750 23751 -11551 1 GRANTS AND SCHOLARSHIPS 137 530450 PART I, LINE 2: THE PHILADELPHIA EDUCATION FUND (PEF) SCHOLARS PROGRAM PROVIDES NEED-BASED, "LAST DOLLAR" SCHOLARSHIPS TO GRADUATES OF 20 PUBLIC AND CHARTER HIGH SCHOOLS ACROSS PHILADELPHIA. SINCE ITS INCEPTION IN 1990, PEF HAS AWARDED MORE THAN $17 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 155000 0 5000 0 0 0 0 0 11324 0 171324 0 0 0 PART I, LINE 7 IN SEPTEMBER 2021, THE BOARD CHAIR PROVIDED UPDATED PERSONNEL FORM TO THE PRESIDENT THAT INCLUDED A BONUS OF $5,000. THE EVALUATION AND APPROVAL BY THE BOARD OF DIRECTORS USED COMPARABILITY DATA AND WAS TIMELY DOCUMENTED. 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. 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.