2021-05-13T10:29:19-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2019-07-01 222567982 THE PHILADELPHIA EDUCATION FUND PHIL 2156651400 718 ARCH STREET NO 700N PHILADELPHIA PA 19106 FARAH JIMENEZ PRESIDENT AND CEO 2156651400 2021-05-13 1 WILLIAM LOUGHERY CPA P01603932 2156433900 2021-05-11 2019 2022-09-23 18:48:47Z FARAH JIMENEZ 718 ARCH STREET NO 700N PHILADELPHIA PA 19106 4636186 0 X WWW.PHILAEDFUND.ORG X 1984 PA CREATES EQUITABLE ACCESS TO OPPORTUNITIES FOR STUDENTS THAT BUILDS PATHS TO COLLEGE AND CAREERS 17 17 27 67 0 0 1845834 4453676 506818 19138 358083 -273756 20085 20699 2730820 4219757 482424 506515 0 0 1628199 1753103 0 0 55243 642346 857889 2752969 3117507 -22149 1102250 6557544 8690765 198568 889631 6358976 7801134 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.THE ED FUND'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 SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH (STEM) EDUCATION. 0 1 2435186 506515 19138 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. 292993 0 0 TEACHING AND LEARNING:THROUGH THE ED FUND'S SCHOOL SERVICES PROGRAMMING, THE PHILADELPHIA EDUCATION FUND SUPPORTS SCHOOLS, NONPROFITS, AND TEACHERS THROUGH PROFESSIONAL DEVELOPMENT AND SUPPORTS IN CREATING COLLEGE GOING SCHOOL-BASED CULTURES. 2728179 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 17 0 27 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 PA X THE PHILADELPHIA EDUCATION FUND 2156651400 718 ARCH STREET NO 700N PHILADELPHIA PA 19106 DAVID BAKER MEMBER 1.00 X 0 0 0 RICHARD CORCORAN MEMBER 1.00 X 0 0 0 DONALD J DILORETO MEMBER 1.00 X 0 0 0 JUDITH GAY MEMBER 1.00 X 0 0 0 LA-TOYA P HACKNEY MEMBER 1.00 X 0 0 0 DONALD HASKIN MEMBER 1.00 X 0 0 0 SOPHIA LEE MEMBER 1.00 X 0 0 0 THOMAS MORRISON MEMBER 1.00 X 0 0 0 SIOBHAN REARDON MEMBER 1.00 X 0 0 0 KENNETH SEILER MEMBER 1.00 X 0 0 0 MARK SILOW MEMBER 1.00 X 0 0 0 NANCY BUTLER SONGER MEMBER 1.00 X 0 0 0 MARKUS WEIDNER MEMBER 1.00 X 0 0 0 DEBORAH O'BRIEN VICE CHAIR 1.50 X X 0 0 0 JOANN MITCHELL SECRETARY 1.50 X X 0 0 0 JOHN G GINELLI TREASURER 1.50 X X 0 0 0 LESLEY TEWNION CHAIR 2.00 X X 0 0 0 FARAH JIMENEZ PRESIDENT AND CEO 35.00 X 150000 0 15188 NIKELE JONES VP FINANCE/OPERATIONS-LEFT NOV 2019 35.00 X 92674 0 32351 242674 0 47539 1 0 1 0 0 1114390 3339286 4453676 CONTRACT REVENUE 611710 19138 19138 19138 122673 122673 15046 0 15046 15046 15046 20000 416429 -396429 -396429 -396429 MISCELLANEOUS 900099 5653 5653 5653 4219757 19138 0 -253057 506515 506515 211396 147977 63419 1224151 1093553 114500 16098 19805 17084 2440 281 170990 150586 17708 2696 126761 108905 16096 1760 337 295 42 132549 110016 22533 303502 274287 6373 22842 39025 21103 12228 5694 38248 38248 123657 109774 13759 124 2133 1770 363 26465 26081 254 130 6952 5770 1182 27969 23214 4755 24307 20175 4132 BAD DEBT EXPENSE 29676 29676 DUES AND SUBSCRIPTIONS 21486 14908 2934 3644 HONORIA AND STIPENDS 18969 18929 40 PROGRAM MATERIALS 9790 9790 52824 29199 21651 1974 3117507 2728179 334085 55243 0 571977 351726 337338 63203 31500 393809 592794 24263 21241 750460 696083 74371 54377 5622276 7064165 27896 17373 6557544 8690765 103353 213743 44999 122315 48985 246717 306856 1231 0 198568 889631 X 534765 326887 5824211 7474247 6358976 7801134 6557544 8690765 1102250 339908 0 X 0 1 X 1 1 1 X 2719561 2150305 1763917 1845834 4453676 12933293 2719561 2150305 1763917 1845834 4453676 12933293 2517014 10416279 238374 143758 146906 193652 137719 860409 5653 5653 13799355 1157450 0.75480 0.70710 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 17384 40264 79217 79217 0 613595 599482 14113 54377 X 4559665 339908 339908 4219757 0 4219757 3117507 0 3117507 0 3117507 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 2015. 1 GRANTS AND SCHOLARHIPS 119 506515 PART I, LINE 2: SCHOLARSHIP DISBURSEMENTS ARE MADE TWICE A YEAR, IN THE FALL AND SPRING SEMESTERS, TO THE COLLEGE OR UNIVERSITY FINANCIAL AID OFFICE. EACH SCHOLARSHIP DISBURSEMENT IS PAYABLE IN THE NAME OF THE COLLEGE OR UNIVERSITY AND THE STUDENT AND REQUIRES DUAL ENDORSEMENT. EACH SCHOLARSHIP DISBURSEMENT IS SENT WITH A LETTER REQUESTING THE FINANCIAL AID OFFICE CONFIRM THAT THE STUDENT IS ENROLLED FULL TIME AT THE COLLEGE OR UNIVERSITY. IF THE STUDENT IS ENROLLED LESS THAN FULL TIME OR TRANSFERRED, THE FINANCIAL AID OFFICE IS REQUESTED TO INDICATE THE STUDENT'S STATUS ON THE LETTER AND RETURN BOTH THE LETTER AND 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 15188 0 165188 0 0 0 FORM 990, PART III, LINE 3 POLICY AND PARTNERSHIP PROGRAM INCLUDED IMPROVING EDUCATION FOR ALL STUDENTS BY LEVERAGING NEW RESOURCES, INFORMATION AND EXPERTISE. THIS WAS PREVIOUSLY FUNDED BY A RESTRICTED CONTRIBUTION WHICH HAS CEASED TO PROVIDE THE FUNDING AND AS SUCH THE ED FUND NO LONGER PROVIDES THE SERVICES UNDER THIS PROGRAM. 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 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. 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 PRESIDENTS AND CEO'S COMPENSATION IS DETERMINED, UPON INITIAL HIRE, BY THE ED FUND EXECUTIVE'S COMMITTEE UTILIZING COMPARABLE DATA OF OTHER NONPROFIT ORGANIZATIONS OF SIMILAR SIZE AND BUDGET AND BASED ON RECOMMENDATIONS BY AN OUTSIDE EXECUTIVE RECRUITING AGENCY. INITIAL COMPENSATION IS SUBJECT TO FINAL APPROVAL BY THE BOARD CHAIR. SUBSEQUENT INCREASES AND BONUSES ARE APPROVED BY THE EXECUTIVE COMMITTEE AND WERE 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.