DREXEL FUNDS: Form 990, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
DREXEL FUNDS (EIN 46-5768451)
Tax period
2019-07-01 to 2020-06-30
Filed
2021-05-13
IRS object ID
202141339349302674
Schema version
2019v5.2
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)
Return2021-05-13T11:04:15-05:00ReturnTs
Tax Period End2020-06-30TaxPeriodEndDt

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 Begin2019-07-01TaxPeriodBeginDt

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
Signature2021-05-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRENEE MESSINGPreparerPersonNm
PTINP01872384PTIN
Phone4142711451PhoneNum
Preparation2021-05-13PreparationDt
FieldValueIRS element (for citing)
Tax2019TaxYr
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$10,554,023GrossReceiptsAmt
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$4,336,857PYContributionsGrantsAmt
CY Contributions Grants$10,500,081CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$55,140PYInvestmentIncomeAmt
CY Investment Income$35,028CYInvestmentIncomeAmt
PY Other Revenue$1,128PYOtherRevenueAmt
CY Other Revenue$18,914CYOtherRevenueAmt
PY Total Revenue$4,393,125PYTotalRevenueAmt
CY Total Revenue$10,554,023CYTotalRevenueAmt
PY Grants And Similar Paid$3,124,500PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$3,175,847CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,133,423PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$930,720CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$33,620CYTotalFundraisingExpenseAmt
PY Other Expenses$469,269PYOtherExpensesAmt
CY Other Expenses$318,563CYOtherExpensesAmt
PY Total Expenses$4,727,192PYTotalExpensesAmt
CY Total Expenses$4,425,130CYTotalExpensesAmt
PY Revenues Less Expenses-$334,067PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$6,128,893CYRevenuesLessExpensesAmt
Total Assets BOY$9,385,438TotalAssetsBOYAmt
Total Assets EOY$15,503,287TotalAssetsEOYAmt
Total Liabilities BOY$7,055,510TotalLiabilitiesBOYAmt
Total Liabilities EOY$2,254,468TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$2,329,928NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$13,248,819NetAssetsOrFundBalancesEOYAmt
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$4,128,909ExpenseAmt
Grant$3,175,847GrantAmt
DescGRANTS TO FAITH BASED OR PRIVATE SCHOOLSDesc
Total Program Service Expenses$4,128,909TotalProgramServiceExpensesAmt
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 IndividualsYes (1)GrantsToIndividualsInd
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 Document14IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee5EmployeeCnt
Employment Tax Returns Filed0EmploymentTaxReturnsFiledInd
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 (13 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)$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)$262,500$0$37,679
MICHAEL MESSNER
TRUSTEE2.00Yes (X)$0$0$0
MITZI KEEL
CFO20.00Yes (X)$108,173$0$19,571
ABIGAIL SCHUMWINGER
PARTNER AND INVESTMENT DIRECTOR40.00$209,135$0$48,434Yes (X)
WILLIAM OLSEN
DIRECTOR40.00$146,102$0$0Yes (X)
COURTNEY COLLINS SHAPIRO
PARTNER40.00$106,420$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$832,330TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$105,684TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K5IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$10,500,081AllOtherContributionsAmt
Total Contributions$10,500,081TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$35,028TotalRevenueColumnAmt
Related Or Exempt Func Income$35,028RelatedOrExemptFuncIncomeAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$13,530RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$0RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$13,530RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$13,530TotalRevenueColumnAmt
Related Or Exempt Func Income$13,530RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOTHER INCOMEDesc
Business522210BusinessCd
Total Revenue Column$5,384TotalRevenueColumnAmt
Related Or Exempt Func Income$5,384RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$5,384OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$10,554,023TotalRevenueColumnAmt
Related Or Exempt Func Income$53,942RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$2,913,786TotalAmt
Program Services$2,913,786ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$262,061TotalAmt
Program Services$262,061ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$431,727TotalAmt
Program Services$226,172ProgramServicesAmt
Management And General$175,399ManagementAndGeneralAmt
Fundraising$30,156FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$376,165TotalAmt
Program Services$376,165ProgramServicesAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$37,079TotalAmt
Program Services$37,079ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$72,060TotalAmt
Program Services$72,060ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$13,689TotalAmt
Program Services$13,689ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$5,043TotalAmt
Management And General$5,043ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$139,678TotalAmt
Program Services$139,678ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$62,042TotalAmt
Management And General$62,042ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$4,942TotalAmt
Management And General$4,942ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$103,252TotalAmt
Program Services$88,219ProgramServicesAmt
Management And General$11,569ManagementAndGeneralAmt
Fundraising$3,464FundraisingAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescOTHER EXPENSEDesc
Total$3,606TotalAmt
Management And General$3,606ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$4,425,130TotalAmt
Program Services$4,128,909ProgramServicesAmt
Management And General$262,601ManagementAndGeneralAmt
Fundraising$33,620FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$39,381BOYAmt
EOY$203,041EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$340,589BOYAmt
EOY$371,197EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$6,623,887BOYAmt
EOY$13,175,825EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

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

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$2,381,581BOYAmt
EOY$1,750,360EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$9,385,438BOYAmt
EOY$15,503,287EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$23,108BOYAmt
EOY$12,054EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$7,020,000BOYAmt
EOY$2,242,414EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$12,402BOYAmt
EOY$0EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$7,055,510BOYAmt
EOY$2,254,468EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY-$334,067BOYAmt
EOY$314,152EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$2,663,995BOYAmt
EOY$12,934,667EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$2,329,928BOYAmt
EOY$13,248,819EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,385,438BOYAmt
EOY$15,503,287EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$6,128,893ReconcilationRevenueExpnssAmt
Prior Period Adjustments$4,789,998PriorPeriodAdjustmentsAmt
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$5,710,000CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,196,661CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$6,211,434CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,336,857CurrentTaxYearMinus1YearAmt
Current Tax Year$10,500,079CurrentTaxYearAmt
Total$29,955,031TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$5,710,000CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,196,661CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$6,211,434CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,336,857CurrentTaxYearMinus1YearAmt
Current Tax Year$10,500,079CurrentTaxYearAmt
Total$29,955,031TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$16,707,916SubstantialContributorsTotAmt
Public Support Total170$13,247,115PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,831CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,775CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$24,022CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$56,268CurrentTaxYearMinus1YearAmt
Current Tax Year$35,028CurrentTaxYearAmt
Total$118,924TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$11,395CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,016CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$170CurrentTaxYearMinus2YearsAmt
Total$14,581TotalAmt
FieldValueIRS element (for citing)
Total Support$30,088,536TotalSupportAmt
Public Support CY1700.44030PublicSupportCY170Pct
Public Support PY1700.61460PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

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$10,554,023TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$10,554,023RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$10,554,023TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$4,425,130TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$4,425,130ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$4,425,130TotalExpensesPerForm990Amt

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, 2020, 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 (25 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINIRC SectionIRCSectionDescCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxt
ACADEMY PREP FOUNDATION
1021 LAKELAND HILLS BLVDLAKELANDFL33805593377240501(C)(3)$80,600PRIVATE SCHOOL FUNDING
ALYSSUM MONTESSORI SCHOOL
916 S CALHOUNFORT WAYNEIN46802812826681501(C)(3)$3,500PRIVATE SCHOOL FUNDING
AZALEA MONTESSORI
4502 CARTER AVENORWOODOH45212812826681501(C)(3)$13,500PRIVATE SCHOOL FUNDING
BADER HILLEL HIGH SCHOOL
6789 N GREEN BAY AVEGLENDALEWI53209823683003501(C)(3)$103,500PRIVATE SCHOOL FUNDING
BUILD UP
2301 AVENUE EBIRMINGHAMAL35218822592447501(C)(3)$105,600PRIVATE SCHOOL FUNDING
CRISTO REY ATLANTA
222 PIEDMONT AVE NEATLANTAGA30308455550340501(C)(3)$50,000PRIVATE SCHOOL FUNDING
CRISTO REY NETWORK
11 E ADAMS ST STE 800CHICAGOIL60603043730980501(C)(3)$333,586PRIVATE SCHOOL FUNDING
EDUCATE TOMORROW
1717 N BAYSHORE DR STE 203MIAMIFL33132510493526501(C)(3)$100,000PRIVATE SCHOOL FUNDING
FOX FLOWER MONTESSORI
871 RIVERSIDE DRASHEVILLENC28804812826681501(C)(3)$3,500PRIVATE SCHOOL FUNDING
FUGEES FAMILY INC
1933 E DUBLIN GRANVILLE RD 117COLUMBUSOH43229205771149501(C)(3)$305,600PRIVATE SCHOOL FUNDING
GOOD SHEPHERD NATIVITY MISSION SCHOOL
1839 AGRICULTURE STNEW ORLEANSLA70119820701910501(C)(3)$157,600PRIVATE SCHOOL FUNDING
HAWTHORN MONTESSORI SCHOOL
871 RIVERSIDE DRASHEVILLENC28804812826681501(C)(3)$3,500PRIVATE SCHOOL FUNDING
KINGDOM PREP LUTHERAN HS
2520 N WAWATOSA AVEWAUWATOSAWI53213390842084501(C)(3)$282,600PRIVATE SCHOOL FUNDING
KINGS ACADEMY
504 BRAMBLEWOOD DRNASHVILLETN37220501(C)(3)$100,000PRIVATE SCHOOL FUNDING
LUMIN SCHOOLS
8242 N GRANVILLE RDMILWAUKEEWI53224161616550501(C)(3)$5,600PRIVATE SCHOOL FUNDING
MAGNOLIA MONTESSORI
950 S 3RD STLOUISVILLEKY40203812826681501(C)(3)$35,000PRIVATE SCHOOL FUNDING
OPEN SKY EDUCATION
20935 SWENSON DR STE 101WAUKESHAWI53186205033694501(C)(3)$7,600PRIVATE SCHOOL FUNDING
PARTNERSHIP SCHOOLS
1011 FIRST AVE STE 1800NEW YORKNY10022133976873501(C)(3)$675,000PRIVATE SCHOOL FUNDING
SAILFUTURE
2900 68TH AVE SOUTHST PETERSBURGFL33712463271817501(C)(3)$80,000PRIVATE SCHOOL FUNDING
SETON EDUCATION PARTNERS
1562 FIRST AVE NO 205-2219NEW YORKNY10028262782492501(C)(3)$100,000PRIVATE SCHOOL FUNDING
SOUTH BEND MONTESSORI HIGH SCHOOL
333 W COLFAX AVESOUTH BENDIN46601842903954501(C)(3)$67,000PRIVATE SCHOOL FUNDING
STARS GLOBAL
10870 SW113 PLMIAMIFL33176473343928501(C)(3)$15,000PRIVATE SCHOOL FUNDING
THE ECCLESIAL SCHOOLS INITIATIVE
3348 W STATE RD 426OVIEDOFL32765834679660501(C)(3)$80,000PRIVATE SCHOOL FUNDING
THE ECO-COLLECTIVE FARM SCHOOL
1851 HIGHLAND AVEMELBOURNEFL32935813174974501(C)(3)$50,000PRIVATE SCHOOL FUNDING
THE OAKS ACADEMY
2301 N PARK AVEINDIANAPOLISIN46205322050595501(C)(3)$155,500PRIVATE SCHOOL FUNDING

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (5 entries)

Grant TypeGrantTypeTxtRecipientRecipientCntCash GrantCashGrantAmt
FOUNDERS PROGRAM GRANT7$56,865
SEED GRANTS7$47,784
LEARNING PLAN4$153,642
NETWORK GRANTS1$270
COVID 19 RELEIF FUNDS1$3,500

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$262,500$0$0$0$0$0$26,250$0$11,429$0$300,179$0$0$0
ABIGAIL SCHUMWINGER
PARTNER AND INVESTMENT DIRECTOR$209,135$0$0$0$0$0$20,914$0$27,520$0$257,569$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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