2022-05-16T09:56:35-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2020-07-01 222567982 THE PHILADELPHIA EDUCATION FUND PHIL 2156651400 718 ARCH STREET NO 700N PHILADELPHIA PA 19106 FARAH JIMENEZ PRESIDENT AND CEO 2156651400 2022-05-13 1 FARAH JIMENEZ 999009999 WILLIAM A LOUGHERY P01603932 2156433900 2022-05-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z FARAH JIMENEZ 718 ARCH STREET NO 700N PHILADELPHIA PA 19106 5657524 0 X WWW.PHILAEDFUND.ORG X 1984 PA CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILDS PATHS TO COLLEGE AND CAREERS 20 20 26 84 0 0 4453676 2839970 19138 72100 -273756 627457 20699 15000 4219757 3554527 506515 538620 0 0 1753103 1660442 0 0 65760 857889 757656 3117507 2956718 1102250 597809 8690765 9790760 889631 400701 7801134 9390059 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. 0 0 2002837 538620 72100 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.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. 383248 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. 2386085 1 1 0 0 0 0 0 0 0 0 1 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 0 0 0 0 0 0 0 1 14 0 26 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 1 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 NO 700N PHILADELPHIA PA 19106 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 FARAH JIMENEZ PRESIDENT AND CEO 35.00 X 150000 0 10844 DANA HAWKINS CFO (SEPT 2020 - MARCH 2021) 35.00 X 29152 0 4175 179152 0 15019 1 0 1 0 YOUR PART TIME CONTROLLER PO BOX 1209 MOUNT LAUREL NJ 08054 ACCOUNTING 120692 1 1050030 1789940 2839970 CONTRACT REVENUE 611710 72100 72100 72100 116415 116415 15000 0 15000 15000 15000 2614039 2102997 511042 511042 511042 3554527 72100 0 642457 538620 538620 219132 130815 88317 1151881 901677 233654 16550 26962 22187 4664 111 151552 128455 22400 697 110915 91273 19184 458 174543 139957 33130 1456 256185 181581 43702 30902 1955 1920 35 57550 42011 4718 10821 23173 20679 2417 77 106376 79916 25629 831 164 147 16 1 3665 3205 10 450 505 405 96 4 14321 11482 2720 119 26121 20945 4958 218 REPAIR AND MAINTENANCE 46321 36492 9471 358 DUES AND SUBSCRIPTIONS 27437 15611 9259 2567 HONORIA AND STIPENDS 15663 15663 3677 3044 528 105 2956718 2386085 504873 65760 571977 169972 337338 1590203 31500 37085 592794 571964 21241 11868 750460 710404 54377 40056 7064165 7352239 17373 17373 8690765 9790760 213743 48158 122315 45687 246717 0 306856 306856 889631 400701 X 326887 772095 7474247 8617964 7801134 9390059 8690765 9790760 597809 991116 0 X 0 1 X 1 1 1 X 2150305 1763917 1845834 4453676 2839970 13053702 2150305 1763917 1845834 4453676 2839970 13053702 2235685 10818017 143758 146906 193652 137719 131415 753450 5653 5653 13812805 1229550 0.78320 0.75480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 5,653. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57648 25787 31861 79217 79217 0 613595 605400 8195 40056 X 4545643 991116 991116 3554527 0 3554527 2956718 0 2956718 0 2956718 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 2018. 1 GRANTS AND SCHOLARSHIPS 117 538620 PART I, LINE 2: SCHOLARSHIP DISBURSEMENTS ARE MADE FOR THE FALL AND SPRING SEMESTERS. TO ENSURE FUNDS ARE USED FOR THEIR INTENDED PURPOSE, DISBURSEMENTS ARE MADE DIRECTLY TO THE RECIPIENT'S COLLEGE. IF THE STUDENT'S ENROLLMENT STATUS CHANGES, THE COLLEGE'S FINANCIAL AID OFFICE IS REQUESTED TO CONTACT THE ED FUND AND RETURN THE SCHOLARSHIP CHECK. X X X X 0 0 0 0 0 0 0 0 0 FARAH JIMENEZ PRESIDENT AND CEO 150000 0 0 0 0 0 0 0 10844 0 160844 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 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 A, LINE 4 THE BYLAWS WERE AMENDED DURING THE TAX YEAR, SIGNIFICANT CHANGES WERE AS FOLLOWS: 1. A MAXIMUM OF 3 THREE YEAR CONSECUTIVE TERMS WAS CHANGED FROM 2 THEE YEAR CONSECUTIVE TERMS. 2. THE REQUIRED OFFICERS NOW INCLUDES A SECRETARY WHERE IT PREVIOUSLY DID NOT. 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.