DREXEL FUNDS: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
DREXEL FUNDS (EIN 46-5768451)
Tax period
2020-07-01 to 2021-06-30
Filed
2022-05-13
IRS object ID
202201339349300345
Schema version
2020v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-05-13T07:44:52-05:00ReturnTs
Tax Period End2021-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN390919055PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1RITZ HOLMAN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1330 E KILBOURN AVE SUITE 550AddressLine1Txt
CityMILWAUKEECityNm
State AbbreviationWIStateAbbreviationCd
ZIP53202ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN465768451EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE DREXEL FUNDBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlDREXBusinessNameControlTxt
Phone6177788118PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1135 W WELLS STREET NO 100AddressLine1Txt
CityMILWAUKEECityNm
State AbbreviationWIStateAbbreviationCd
ZIP53203ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOHN ERIKSENPersonNm
Person TitleMANAGING PARTNERPersonTitleTxt
Phone6177788118PhoneNum
Signature2022-05-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJOHNPersonFirstNm
Person LastERIKSENPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRENEE MESSINGPreparerPersonNm
PTINP01872384PTIN
Phone4142711451PhoneNum
Preparation2022-05-12PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJOHN ERIKSENPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1135 W WELLS STREET NO 100AddressLine1Txt
CityMILWAUKEECityNm
State AbbreviationWIStateAbbreviationCd
ZIP53203ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$8,522,964GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.DREXELFUND.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2015FormationYr
Legal Domicile StateCALegalDomicileStateCd
Activity Or MissionTHE DREXEL FUND IS A VENTURE PHILANTHROPY FUND THAT INVESTS AND PARTNERS IN THE GROWTH OF HIGH QUALITY, FINANCIALLY SUSTAINABLE NETWORKS OF FAITH BASED ON OTHER PRIVATE SCHOOLSActivityOrMissionDesc
Voting Members Governing Body9VotingMembersGoverningBodyCnt
Voting Members Independent8VotingMembersIndependentCnt
Total Employee5TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$10,500,081PYContributionsGrantsAmt
CY Contributions Grants$8,493,563CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$35,028PYInvestmentIncomeAmt
CY Investment Income$2,817CYInvestmentIncomeAmt
PY Other Revenue$18,914PYOtherRevenueAmt
CY Other Revenue$26,584CYOtherRevenueAmt
PY Total Revenue$10,554,023PYTotalRevenueAmt
CY Total Revenue$8,522,964CYTotalRevenueAmt
PY Grants And Similar Paid$3,175,847PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$3,054,040CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$930,720PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$775,863CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$30,194CYTotalFundraisingExpenseAmt
PY Other Expenses$318,563PYOtherExpensesAmt
CY Other Expenses$381,596CYOtherExpensesAmt
PY Total Expenses$4,425,130PYTotalExpensesAmt
CY Total Expenses$4,211,499CYTotalExpensesAmt
PY Revenues Less Expenses$6,128,893PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$4,311,465CYRevenuesLessExpensesAmt
Total Assets BOY$15,503,287TotalAssetsBOYAmt
Total Assets EOY$18,531,220TotalAssetsEOYAmt
Total Liabilities BOY$2,254,468TotalLiabilitiesBOYAmt
Total Liabilities EOY$970,936TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$13,248,819NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$17,560,284NetAssetsOrFundBalancesEOYAmt
MissionTHE DREXEL FUND IS A VENTURE PHILANTHROPY FUND THAT INVESTS AND PARTNERS IN THE GROWTH OF HIGH QUALITY, FINANCIALLY SUSTAINABLE NETWORKS OF FAITH BASED OR OTHER PRIVATE SCHOOLSMissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$3,921,564ExpenseAmt
Grant$3,054,040GrantAmt
DescGRANTS TO FAITH BASED OR PRIVATE SCHOOLSDesc
Total Program Service Expenses$3,921,564TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document11IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee5EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members9GoverningBodyVotingMembersCnt
Independent Voting Member8IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Own WebsiteYes (X)OwnWebsiteInd
Other WebsiteYes (X)OtherWebsiteInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MITZI KEELBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6177788118PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1135 W WELLS STREETAddressLine1Txt
CityMILWAUKEECityNm
State AbbreviationWIStateAbbreviationCd
ZIP53203ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
BJ CASSIN
CHAIRMAN2.00Yes (X)Yes (X)$0$0$0
THOMAS J HEALEY
TREASURER2.00Yes (X)Yes (X)$0$0$0
NICK HOWLEY
TRUSTEE2.00Yes (X)$0$0$0
DARREN JACKSON
SECRETARY2.00Yes (X)Yes (X)$0$0$0
DARLA ROMFO
TRUSTEE2.00Yes (X)$0$0$0
DR DANIEL SCOGGIN
TRUSTEE2.00Yes (X)$0$0$0
CHRISTOPHER WILSON
TRUSTEE2.00Yes (X)$0$0$0
JOHN ERIKSEN
MANAGING PARTNER40.00Yes (X)Yes (X)$259,914$0$35,278
MICHAEL MESSNER
TRUSTEE2.00Yes (X)$0$0$0
MITZI KEEL
DIRECTOR OF FIN. & ADMIN.20.00$106,084$0$24,805Yes (X)
ABIGAIL SCHUMWINGER
PARTNER AND INVESTMENT DIR40.00$200,475$0$47,447Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$566,473TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$107,530TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K3IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$8,493,563AllOtherContributionsAmt
Total Contributions$8,493,563TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,817TotalRevenueColumnAmt
Related Or Exempt Func Income$2,817RelatedOrExemptFuncIncomeAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$26,584RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$0RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$26,584RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$26,584TotalRevenueColumnAmt
Related Or Exempt Func Income$26,584RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$8,522,964TotalRevenueColumnAmt
Related Or Exempt Func Income$29,401RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$3,054,040TotalAmt
Program Services$3,054,040ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$301,563TotalAmt
Program Services$226,172ProgramServicesAmt
Management And General$45,235ManagementAndGeneralAmt
Fundraising$30,156FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$386,865TotalAmt
Program Services$281,506ProgramServicesAmt
Management And General$105,359ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$36,912TotalAmt
Program Services$26,376ProgramServicesAmt
Management And General$10,536ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$28,866TotalAmt
Program Services$22,657ProgramServicesAmt
Management And General$6,209ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$21,657TotalAmt
Program Services$13,597ProgramServicesAmt
Management And General$8,060ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$7,031TotalAmt
Management And General$7,031ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$264,129TotalAmt
Program Services$264,129ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$17,663TotalAmt
Management And General$17,663ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$4,830TotalAmt
Management And General$4,830ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$31,656TotalAmt
Management And General$31,656ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$33,441TotalAmt
Program Services$33,087ProgramServicesAmt
Management And General$316ManagementAndGeneralAmt
Fundraising$38FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$8,932TotalAmt
Management And General$8,932ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescOTHER EXPENSEDesc
Total$13,914TotalAmt
Management And General$13,914ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$4,211,499TotalAmt
Program Services$3,921,564ProgramServicesAmt
Management And General$259,741ManagementAndGeneralAmt
Fundraising$30,194FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$203,041BOYAmt
EOY$1,079,452EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$371,197BOYAmt
EOY$6,256EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$13,175,825BOYAmt
EOY$16,442,737EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$2,864BOYAmt
EOY$2,775EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$1,750,360BOYAmt
EOY$1,000,000EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$15,503,287BOYAmt
EOY$18,531,220EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$12,054BOYAmt
EOY$37,955EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$2,242,414BOYAmt
EOY$932,981EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$2,254,468BOYAmt
EOY$970,936EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$314,152BOYAmt
EOY$1,494,367EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$12,934,667BOYAmt
EOY$16,065,917EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$13,248,819BOYAmt
EOY$17,560,284EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$15,503,287BOYAmt
EOY$18,531,220EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$4,311,465ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,196,661CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$6,211,434CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,336,857CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,500,079CurrentTaxYearMinus1YearAmt
Current Tax Year$8,493,563CurrentTaxYearAmt
Total$32,738,594TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,196,661CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$6,211,434CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,336,857CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,500,079CurrentTaxYearMinus1YearAmt
Current Tax Year$8,493,563CurrentTaxYearAmt
Total$32,738,594TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$25,063,940SubstantialContributorsTotAmt
Public Support Total170$7,674,654PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,775CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$24,022CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$56,268CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$35,028CurrentTaxYearMinus1YearAmt
Current Tax Year$29,401CurrentTaxYearAmt
Total$146,494TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,016CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$170CurrentTaxYearMinus3YearsAmt
Total$3,186TotalAmt
FieldValueIRS element (for citing)
Total Support$32,888,274TotalSupportAmt
Public Support CY1700.23340PublicSupportCY170Pct
Public Support PY1700.44030PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests PY170Yes (X)ThirtyThrPctSuprtTestsPY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$8,522,964TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$8,522,964RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$8,522,964TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$4,211,499TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$4,211,499ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$4,211,499TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. AS OF JUNE 30, 2021, THE ORGANIZATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. THE ORGANIZATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable (23 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINIRC SectionIRCSectionDescCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxt
ACADEMY PREP FOUNDATION
1021 LAKELAND HILLS BLVDLAKELANDFL33805593377240501(C)(3)$50,000PRIVATE SCHOOL FUNDING
BADER HILLEL HIGH SCHOOL
6789 N GREEN BAY AVEGLENDALEWI53209823683003501(C)(3)$35,000PRIVATE SCHOOL FUNDING
BUILD UP
2301 AVENUE EBIRMINGHAMAL35218822592447501(C)(3)$125,000PRIVATE SCHOOL FUNDING
CRISTO REY ATLANTA
222 PIEDMONT AVE NEATLANTAGA30308455550340501(C)(3)$100,000PRIVATE SCHOOL FUNDING
CRISTO REY OKLAHOMA CITY
900 N PORTLANDOKLAHOMA CITYOK73107814535139501(C)(3)$100,000PRIVATE SCHOOL FUNDING
CRISTO REY ST VIATOR
2880 N VAN DER MEER STREETNORTH LAS VEGASNV89030824989842501(C)(3)$175,000PRIVATE SCHOOL FUNDING
DIVINE SAVIOR SCHOOL
6055 NW 104TH AVE SUITE 1DORALFL33178811666669501(C)(3)$60,000PRIVATE SCHOOL FUNDING
FUGEES FAMILY INC
1933 E DUBLIN GRANVILLE RD 117COLUMBUSOH43229205771149501(C)(3)$900,000PRIVATE SCHOOL FUNDING
JULIE BILLIART NETWORK
4982 CURBSIDE ROADLYNDHURSTOH441242532814726551501(C)(3)$550,000PRIVATE SCHOOL FUNDING
KINGDOM PREP LUTHERAN HS
2520 N WAUWATOSA AVEWAUWATOSAWI53213390842084501(C)(3)$100,000PRIVATE SCHOOL FUNDING
MAGNOLIA BLOSSOM MONTESSORI
950 S 3RD STLOUISVILLEKY40203812826681501(C)(3)$5,000PRIVATE SCHOOL FUNDING
PARTNERSHIP SCHOOLS
1011 FIRST AVE STE 1800NEW YORKNY10022133976873501(C)(3)$275,000PRIVATE SCHOOL FUNDING
SETON EDUCATION PARTNERS
1562 FIRST AVE NO 205-2219NEW YORKNY10028262782492501(C)(3)$100,000PRIVATE SCHOOL FUNDING
STARS GLOBAL
10870 SW113 PLMIAMIFL33176473343928501(C)(3)$45,000PRIVATE SCHOOL FUNDING
THE ECCLESIAL SCHOOLS INITIATIVE
3348 W STATE RD 426OVIEDOFL32765834679660501(C)(3)$60,000PRIVATE SCHOOL FUNDING
THE ECO-COLLECTIVE FARM SCHOOL
1851 HIGHLAND AVEMELBOURNEFL32935813174974501(C)(3)$50,000PRIVATE SCHOOL FUNDING
ST MARCUS LUTHERAN SCHOOL
2215 N PALMER STREETMILWAUKEEWI53212275285669501(C)(3)$7,040PRIVATE SCHOOL FUNDING
GOLDENROD MONTESSORI
13100 SHAKER SQUARECLEVELANDOH44120812826681501(C)(3)$120,000PRIVATE SCHOOL FUNDING
AUTISM INSPIRED ACADEMY
2177 NE COACHMAN ROADCLEARWATERFL33765821508256501(C)(3)$50,000PRIVATE SCHOOL FUNDING
CRISTO REY NETWORK
11 EAST ADAMS STREET SUITE 800CHICAGOIL60603043730980501(C)(3)$50,000PRIVATE SCHOOL FUNDING
EDWARD CHARLES FOUNDATION
269 SOUTH BEVERLY DRIVE NO 338BEVERLY HILLSCA90212264245043501(C)(3)$25,000PRIVATE SCHOOL FUNDING
THE BASILICA SCHOOL OF SAINT MARY STAR OF THE SEA
700 TRUMAN AVEKEY WESTFL33040596015970501(C)(3)$27,000PRIVATE SCHOOL FUNDING
MERCY EDUCATION SYSTEM OF THE AMERICAS
8403 COLESVILLE RD STE 400SILVER SPRINGMD20910821445207501(C)(3)$45,000PRIVATE SCHOOL FUNDING
FieldValueIRS element (for citing)
Total501c3 Org23Total501c3OrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationGRANT FUNDING IS APPROVED BY THE BOARD OF TRUSTEES. AGREEMENTS ARE CREATED FOR THE GRANTS THAT ARE AWARDED. THE BOARD FOLLOWS UP AND VERIFIES THAT THE GRANT FUNDS ARE BEING USED FOR THE INTENDED PURPOSE.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
JOHN ERIKSEN
MANAGING PARTNER$259,914$0$0$0$0$0$26,250$0$9,028$0$295,192$0$0$0
ABIGAIL SCHUMWINGER
PARTNER AND INVESTMENT DIR$200,475$0$0$0$0$0$20,048$0$27,399$0$247,922$0$0$0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE DREXEL FUND HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE. IT IS PROVIDED TO THE MEMBERS OF THE ORGANIZATION GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION, THE GOVERNING BODY IS PROVIDED A REASONABLE AMOUNT OF TIME TO REVIEW THE FORM 990. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AN PROVIDED THROUGH MANAGEMENT TO THE OUTSIDE ACCOUNTING FIRM ANY APPLICABLE ISSUES ARE ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING
FORM 990, PART VI, SECTION B, LINE 12CTHE DREXEL FUND CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT REGULARLY MONITORS AND ENFORCES. THE BOARD MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, GOVERNING BODY AND MANAGEMENT AND THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY. THE MEMBER WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THAT THERE IS NO LONGER A CONFLICT.
FORM 990, PART VI, SECTION B, LINE 15THE COMPENSATION OF THE ORGANIZATIONS OFFICERS OR KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES AN INDEPENDENT BODY.
FORM 990, PART VI, SECTION C, LINE 19THE DREXEL FUND MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE SERVICE CODE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 135 WEST WELLS STREET SUITE 100, MILWAUKEE, WI 53203. IN ADDITION FORM 1023 AS WELL AS THE FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATION OFFICE AT WEST WELLS STREET SUITE 100, MILWAUKEE, WI 53203.

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