2025-05-14T09:29:41-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2023-07-01 222691757 PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE FOUNDATION PHIL 2158716900 4190 CITY AVENUE PHILADELPHIA PA 19131 DALLAS A GRUNDY VP OF FINANCE & ADMINISTRATION/CFO 2158716900 2025-05-15 1 0 LAURA J KENNEY P00202198 6177170831 2025-05-12 2023 2025-03-06 01:10:19Z DALLAS GRUNDY 4190 CITY AVENUE PHILADELPHIA PA 19131 284614342 0 X WWW.PCOM.EDU X 1986 PA CONDUCTS FUNDRAISING IN SUPPORT OF PCOM, AS WELL AS, PROVIDES MANAGEMENT OF PCOM ENDOWMENT FUNDS. THESE FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, AWARDS, AND FUNDS FOR OPERATING COSTS. 18 16 0 18 -1257380 0 2730522 4885094 0 0 2572222 17721955 0 -55314 5302744 22551735 10010431 9821231 0 0 0 0 0 739405 1080130 3079656 3942018 13090087 14502654 -7787343 8049081 570849232 611334916 857672 99628 569991560 611235288 CONDUCTS FUNDRAISING IN SUPPORT OF PCOM, AS WELL AS, PROVIDES MANAGEMENT OF PCOM ENDOWMENT FUNDS. THESE FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, AWARDS, AND FUNDS FOR OPERATING COSTS. 0 0 10058648 9821231 0 SCHOLARSHIPS AND AWARDS ARE AWARDED TO MEDICAL STUDENTS AND OTHER GRADUATE PROGRAM STUDENTS. 10058648 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 1 1 1 0 0 1 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 18 16 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 AL AZ AR CA CO CT DC FL HI IL KY LA ME MD MA MI MN MS MT NV NH NJ NY NC OH OK OR PA SC UT VA WA WI X PCOM MANAGEMENT 2158716900 4190 CITY AVENUE PHILADELPHIA PA 19131 JAY S FELDSTEIN DO PRESIDENT & CEO 3.00 42.00 X X 0 1223172 62212 KENNETH J VEIT DO PROVOST, SVP ACADEMIC AFFAIRS, DEAN 3.00 42.00 X X 0 807335 67492 THOMAS J GRAVINA CHAIRMAN OF THE BOARD 2.00 3.00 X X 0 0 0 JOHN B BULGER DO VICE CHAIRMAN 1.00 1.00 X X 0 0 0 A SCOTT MCNEAL DO VICE CHAIRMAN 1.00 1.00 X X 0 0 0 JEREL A HOPKINS ESQ VICE CHAIRMAN 1.00 1.00 X X 0 0 0 WILLIAM B SWALLOW DO TRUSTEE/ALUMNI REPRESENTATIVE 1.00 1.00 X 0 0 0 MINDY GEORGE-WEINSTEIN PHD TRUSTEE/FACULTY REPRESENTATIVE 0.00 40.00 X 0 216473 59667 JOHN P KEARNEY TRUSTEE 1.00 1.00 X 0 0 0 MATTHEW O ELKES TRUSTEE 1.00 1.00 X 0 0 0 THELMA DYE-HOLMES PHD TRUSTEE 1.00 1.00 X 0 0 0 JOSEPH A DIETERLE DO TRUSTEE 1.00 1.00 X 0 0 0 VINCENT LOBO DO TRUSTEE 1.00 1.00 X 0 0 0 R DAVID MCCLESKEY TRUSTEE 1.00 1.00 X 0 0 0 JAMES H BLACK DO TRUSTEE 1.00 1.00 X 0 0 0 WAYNE T SIKES TRUSTEE 1.00 1.00 X 0 0 0 VIRGINIA A STALLINGS MD TRUSTEE 1.00 1.00 X 0 0 0 TIMOTHY P BURGESS TRUSTEE 1.00 1.00 X 0 0 0 PETER DOULIS UNTIL 062024 VP FINANCE/CFO 3.00 42.00 X 0 620763 80626 DAVID SIMON UNTIL 062024 CHIEF LEGAL AFFAIRS OFFICER 3.00 42.00 X 0 491357 69615 CARRIE COLLINS CHIEF ADVANCEMENT AND STRATEGIC PLANNING OFFICER 27.00 18.00 X 0 425131 60479 MARCINE PICKRON-DAVIS CHIEF DIVERSITY OFFICER 2.00 38.00 X 0 311804 35479 DALLAS A GRUNDY AS OF 0324 VP OF FINANCE & ADMINISTRATION 3.00 42.00 X 0 0 0 LYNN KUSH SECRETARY 2.00 38.00 X 0 99096 36638 0 4195131 472208 0 0 1 0 EAST END ADVISORS LLC 610 FIFTH AVENUE SUITE 506 NEW YORK NY 10020 INVESTMENT MANAGEMENT 3054999 COMMUNITY COUNSELING SERVICES 527 MADISON AVE FLOOR 5 NEW YORK NY 100224394 FUNDRAISING CONSULTANT(STRATEGY) 470613 STUDIO USHER 132 WEST 13TH STREET FLOOR 2 NEW YORK NY 100117802 FUNDRAISING CONSULTANT (WEBSITE) 141666 3 60800 585000 4239294 206281 4885094 9327557 -1418776 10746333 270097856 261703458 8394398 8394398 161396 8233002 303835 60800 359149 -55314 -55314 22551735 0 -1257380 18924021 1988693 1988693 7832538 7832538 739405 739405 3363876 3363876 145940 145940 13118 605 12513 180919 180919 14920 13567 1353 BAD DEBT 223245 223245 14502654 10058648 3363876 1080130 5685855 3801850 749221 1494100 102248745 76679309 462045184 527638830 120227 1720827 570849232 611334916 98578 99628 759094 0 857672 99628 X 526367632 564124514 43623928 47110774 569991560 611235288 570849232 611334916 8049081 33194647 0 X 0 1 X 1 0 X 1923614 2316565 2642692 2730522 4885094 14498487 1923614 2316565 2642692 2730522 4885094 14498487 14498487 5414315 4749290 6945473 8878906 10746333 36734317 24807 24807 175000 13874 303835 492709 51750320 0.28020 0.27700 X THE FOUNDATION MAINTAINS A ROBUST ENGAGEMENT AND FUNDRAISING PROGRAM TO SUPPORT THE MISSION OF PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE. THE FOUNDATION CONTINUALLY SOLICITS FUNDS FROM THE PUBLIC. IT RECEIVES CHARITABLE CONTRIBUTIONS FROM A WIDE RANGE OF DONORS, INCLUDING INDIVIDUALS, COMPANIES, FOUNDATIONS, AND OTHER PUBLIC CHARITIES. IN 2024, THE FOUNDATION LAUNCHED THE PUBLIC PHASE OF A COMPREHENSIVE FUNDRAISING CAMPAIGN, UNITED & IGNITED. THE CAMPAIGN IS FOCUSED ON STUDENT SUCCESS, SPECIFICALLY ACCELERATING ACADEMIC EXCELLENCE, EXPANDING CLINICAL OPPORTUNITIES, AND ENHANCING STUDENTS' EXPERIENCE. ITS PUBLIC SUPPORT PERCENTAGE REMAINS OVER 28%. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENT INCOME - 2019 AMOUNT: $ 175,000. 2023 AMOUNT: $ 303,835. OTHER INCOME - 2020 AMOUNT: $ 13,874. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 573254503 4885094 51678590 7832538 1988693 4802569 615194387 539106010 16653022 30350811 7385710 2624721 2844909 573254503 568441693 29787238 -46760140 6722002 2665309 2975470 539106010 419241320 27516815 131966694 6057300 1764393 2461443 568441693 417912181 1964164 8872012 5808696 1539903 2158438 419241320 0.92340 0.07660 0.00000 0 0 0 ALTERNATIVE INVESTMENTS 511372949 F VENTURE CAPITAL 16265881 F 527638830 X PART X, LINE 2: PCOM FOUNDATION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. PCOM FOUNDATION FILES U.S. FEDERAL, STATE, AND LOCAL INFORMATION RETURNS, AND NO RETURNS ARE CURRENTLY UNDER EXAMINATION. THE STATUTE OF LIMITATIONS ON THE ORGANIZATION'S U.S. FEDERAL INFORMATION RETURNS REMAINS OPEN FOR THREE YEARS FOLLOWING THE YEAR THEY ARE FILED. U.S. GAAP REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A MORE-LIKELY THAN-NOT THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION DOES NOT BELIEVE ITS CONSOLIDATED FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 205818608 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 41519622 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 14046163 NORTH AMERICA 0 0 INVESTMENTS 977412 0 0 0 0 0 0 262361805 0 262361805 1 0 1 1 1 0 X X X X X X 1 COMMUNITY COUNSELING SERVICES 527 MADISON AVE FL 5 NEW YORK NY 100224394 FUNDRAISING STRATEGY AND COUNSEL 0 0 472832 0 STUDIO USHER 132 WEST 13TH STREET FL 2 NEW YORK NY 100117802 CAMPAIGN BRAND, DESIGN, AND ASSETS 0 0 186523 0 DIGITAL CITIZEN 99 WALL STREET APT 932 NEW YORK NY 10005 CAMPAIGN WEBSITE DEVELOPMENT/MAINTENANCE 0 0 56700 0 SLEEK CONSULTING PO BOX 958 KINGSTON NH 038480958 SALESFORCE DATABASE CONSULTING 0 0 23400 0 739455 GALA EVENT 364635 60800 303835 7500 85882 26178 239589 364635 60800 303835 7500 85882 26178 239589 359149 -55314 1 PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE 4190 CITY AVENUE PHILADELPHIA PA 19131 231355135 501(C)(3) 1988693 0 N/A N/A GENERAL ASSISTANCE 1 0 SCHOLARSHIPS 1771 7832538 0 N/A N/A PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS: THE GRANTS (SCHOLARSHIP AND AWARDS) ARE APPLIED AS TUITION PAYMENTS ON BEHALF OF STUDENTS ENROLLED AT PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE. THE STUDENTS MUST DEMONSTRATE FINANCIAL NEED AND BE IN GOOD ACADEMIC STANDING. GRANT ARE AWARDED IN A NONDISCRIMINATORY AND OBJECTIVE MANNER. 0 0 0 0 0 0 0 0 0 JAY S FELDSTEIN DO PRESIDENT & CEO 0 865972 0 350000 0 7200 0 49500 0 12712 0 1285384 0 0 KENNETH J VEIT DO PROVOST, SVP ACADEMIC AFFAIRS, DEAN 0 650735 0 150000 0 6600 0 49500 0 17992 0 874827 0 0 PETER DOULIS UNTIL 062024 VP FINANCE/CFO 0 514163 0 100000 0 6600 0 49500 0 31126 0 701389 0 0 DAVID SIMON UNTIL 062024 CHIEF LEGAL AFFAIRS OFFICER 0 389757 0 95000 0 6600 0 49500 0 20115 0 560972 0 0 CARRIE COLLINS CHIEF ADVANCEMENT AND STRATEGIC PLAN 0 293531 0 125000 0 6600 0 29353 0 31126 0 485610 0 0 MARCINE PICKRON-DAVIS CHIEF DIVERSITY OFFICER 0 220204 0 85000 0 6600 0 33031 0 2448 0 347283 0 0 MINDY GEORGE-WEINSTEIN PHD TRUSTEE/FACULTY REPRESENTATIVE 0 216473 0 0 0 0 0 32471 0 27196 0 276140 0 0 PART I, LINE 3 COMPENSATION PAID TO THE PRESIDENT AND OFFICERS OF PCOM AND PCOM FOUNDATION IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE PCOM BOARD OF TRUSTEES. IN ADDITION, AN ANNUAL REVIEW IS CONDUCTED BY AN INDEPENDENT EXECUTIVE COMPENSATION CONSULTING ORGANIZATION, IN ORDER TO PROVIDE AN OPINION ON THE REASONABLENESS OF AND SUPPORTING COMPARABILITY DATA WITH RESPECT TO TOTAL COMPENSATION OF THE PRESIDENT AND OFFICERS. ALL BONUSES ARE MERIT-BASED. THE OFFICERS WERE COMPENSATED BY A RELATED ORGANIZATION. THE RELATED ORGANIZATION USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE COMPENSATION COMMITTEE. SUBSTANTIAL DONOR SUBSTANTIAL DONOR 3054999 SERVICES 0 SUBSTANTIAL DONOR SUBSTANTIAL DONOR 472832 SERVICES 0 SUBSTANTIAL DONOR SUBSTANTIAL DONOR 240023 SERVICES 0 X 1 5246 FMV X 1 161600 FMV X STETHOSCOPES 270 29700 FMV X WHITE COATS 300 9735 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF DONORS. SCHEDULE M, LINE 31 PCOM FOUNDATION HAS A GIFT ACCEPTANCE COMMITTEE THAT REVIEWS ALL NON-STANDARD CONTRIBUTIONS BEFORE ACCEPTING ANY GIFTS. FORM 990, PART IV, LINE 24A PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE FOUNDATION IS A CO-BORROWER ON TWO TAX-EXEMPT DEBT ISSUES THAT ARE REPORTED SEPARATELY ON PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE'S FORM 990 AND ON OVERMONT CORPORATION'S FORM 990. FORM 990, PART VI, SECTION A, LINE 2 ALL COMPENSATED OFFICERS AND KEY EMPLOYEES HAVE A BUSINESS RELATIONSHIP WITH ALL BOARD MEMBERS AS THEY ARE EMPLOYED BY A RELATED ORGANIZATION THAT ALL BOARD MEMBERS ALSO SERVE. FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION HAS MEMBERS WHICH INCLUDE THE BOARD OF TRUSTEES AND 1 FACULTY. FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDATION MEMBERS HAVE THE POWER TO ELECT 9 MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE FOUNDATION MEMBERS ALSO HAVE THE AUTHORITY TO CHANGE THE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX CONSULTANT WITH INFORMATION PROVIDED BY MANAGEMENT. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990. PRIOR TO FILING, THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL QUESTIONNAIRE AND DISCLOSURE FORM WAS DEVELOPED BY OUR EXTERNAL LEGAL COUNSEL. EVERY JULY 1ST, THE QUESTIONNAIRE IS SENT OUT TO ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES. QUESTIONNAIRES ARE CHECKED TO MAKE SURE THAT THEY ARE ALL RETURNED AND SIGNED. THEY ARE THEN REVIEWED BY THE CEO AND CFO. ANY REPORTABLE CONFLICTS ARE THEN SENT TO THE AUDIT COMMITTEE FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THIS ORGANIZATION DOES NOT PAY ANY COMPENSATION TO THE CEO, OFFICERS, OR KEY EMPLOYEES. ALL COMPENSATION IS PAID BY THE PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE AND THE PROCESS IS EXPLAINED IN ITS FORM 990 SCHEDULE O. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. PCOM FOUNDATION INVESTMENTS LLC 4190 CITY AVENUE PHILADELPHIA PA 19131 473777062 INVESTMENTS PA 3410 7107291 PCOMF PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE 4190 CITY AVENUE PHILADELPHIA PA 19131 231355135 EDUCATION PA 501(C)(3) LINE 2 PCOM FOUNDATION 1 OVERMONT CORPORATION 4001 MONUMENT ROAD PHILADELPHIA PA 19131 231922689 HOUSING PA 501(C)(3) LINE 10 PCOM 1 PCOM PRIMARY CARE INNOVATION FUND LLC 4190 CITY AVENUE PHILADELPHIA PA 19131 320505991 INVESTMENTS DE PCOMF EXCLUDED 7754 3851514 0 0 1.00000 PCOM PRIMARY CARE INNOVATION FUND II LLC 4190 CITY AVENUE PHILADELPHIA PA 19131 863999783 INVESTMENTS DE PCOMF EXCLUDED 6989 10884846 0 0 1.00000 AMERICAN OSTEOPATHIC INSURANCE COMPANY PO BOX 1109 GRAND CAYMAN CJ 980201176 INSURANCE CJ PCOM C 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE B 1988693 CASH PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE S 585000 CASH PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE C 585000 CASH PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE D 1721000 CASH