DREXEL FUNDS: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- DREXEL FUNDS (EIN 46-5768451)
- Tax period
- 2018-07-01 to 2019-06-30
- Filed
- 2020-05-18
- IRS object ID
- 202041399349300909
- Schema version
- 2018v3.1
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-05-18T11:11:52-05:00 | ReturnTs |
| Tax Period End | 2019-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8215 GREENWAY BOULEVARD SUITE 600 | AddressLine1Txt |
| City | MIDDLETON | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53562 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 465768451 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE DREXEL FUND | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | DREX | BusinessNameControlTxt |
| Phone | 6177788110 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 W WELLS STREET NO 100 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53203 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOHN ERIKSEN | PersonNm |
| Person Title | MANAGING TRUSTEE | PersonTitleTxt |
| Phone | 6177788110 | PhoneNum |
| Signature | 2020-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KIMBERLY ANDERSON | PreparerPersonNm |
| PTIN | P00188889 | PTIN |
| Phone | 6086628600 | PhoneNum |
| Preparation | 2020-05-13 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 67.137.57.251 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-05-13 | IPDt |
| IP Tm | 11:52:35 | IPTm |
| IP Timezone | CD | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 10B9100DF4E506A733A7E8B9641B5E5A8F691AA5 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 1CCF7D792A9AC9F30B157F97210327D63D0E1227 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | JOHN ERIKSEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 W WELLS STREET NO 100 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53203 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,393,125 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.DREXELFUND.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2015 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | THE DREXEL FUND IS A VENTURE PHILANTHROPY FUND THAT INVESTS A PARTNERS IN THE GROWTH OF HIGH QUALITY, FINANCIALLY SUSTAINABLE NETWORKS OF FAITH BASED AND OTHER PRIVATE SCHOOLS | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 6 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $6,211,434 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,336,857 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $24,022 | PYInvestmentIncomeAmt |
| CY Investment Income | $55,140 | CYInvestmentIncomeAmt |
| PY Other Revenue | $170 | PYOtherRevenueAmt |
| CY Other Revenue | $1,128 | CYOtherRevenueAmt |
| PY Total Revenue | $6,235,626 | PYTotalRevenueAmt |
| CY Total Revenue | $4,393,125 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $4,431,113 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $3,124,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,034,766 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,133,423 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $89,077 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $329,475 | PYOtherExpensesAmt |
| CY Other Expenses | $469,269 | CYOtherExpensesAmt |
| PY Total Expenses | $5,795,354 | PYTotalExpensesAmt |
| CY Total Expenses | $4,727,192 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $440,272 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$334,067 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,589,665 | TotalAssetsBOYAmt |
| Total Assets EOY | $9,385,438 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,925,670 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $7,055,510 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,663,995 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,329,928 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE 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 SCHOOLS | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $4,406,644 | ExpenseAmt |
| Grant | $3,124,500 | GrantAmt |
| Desc | GRANTS TO FAITH BASED PRIVATE SCHOOLS | Desc |
| Total Program Service Expenses | $4,406,644 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 9 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 6 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MITZI KEEL | PersonNm |
| Phone | 7853934639 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 135 W WELLS STREET 100 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53203 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| BJ CASSIN | |||||||
| CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| THOMAS J HEALEY | |||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| NICK HOWLEY | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DARREN JACKSON | |||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DARLA ROMFO | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DR DANIEL SCOGGIN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTOPHER WILSON | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN ERIKSEN | |||||||
| MANAGING TRUSTEE | 40.00 | Yes (X) | Yes (X) | $247,656 | $0 | $32,457 | |
| MICHAEL MESSNER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ELIZABETH J BROWN | |||||||
| CFO | 20.00 | Yes (X) | $56,087 | $0 | $4,694 | ||
| ABIGAIL SCHUMWINGER | |||||||
| PARTNER | 40.00 | $196,015 | $0 | $44,186 | Yes (X) | ||
| WILLIAM OLSEN | |||||||
| DIRECTOR | 40.00 | $143,675 | $0 | $42,229 | Yes (X) | ||
| COURTNEY COLLINS SHAPIRO | |||||||
| PARTNER | 40.00 | $207,200 | $0 | $20,738 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $850,633 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $144,304 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $4,336,857 | AllOtherContributionsAmt |
| Total Contributions | $4,336,857 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $55,140 | TotalRevenueColumnAmt |
| Exclusion | $55,140 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,128 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,128 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,128 | TotalRevenueColumnAmt |
| Exclusion | $1,128 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,393,125 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $56,268 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,602,500 | TotalAmt |
| Program Services | $2,602,500 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $522,000 | TotalAmt |
| Program Services | $522,000 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $350,782 | TotalAmt |
| Program Services | $249,282 | ProgramServicesAmt |
| Management And General | $29,000 | ManagementAndGeneralAmt |
| Fundraising | $72,500 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $621,369 | TotalAmt |
| Program Services | $519,286 | ProgramServicesAmt |
| Management And General | $102,083 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,077 | TotalAmt |
| Program Services | $52,865 | ProgramServicesAmt |
| Management And General | $10,212 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,110 | TotalAmt |
| Program Services | $29,315 | ProgramServicesAmt |
| Management And General | $13,795 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,085 | TotalAmt |
| Program Services | $43,090 | ProgramServicesAmt |
| Management And General | $9,177 | ManagementAndGeneralAmt |
| Fundraising | $2,818 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,160 | TotalAmt |
| Management And General | $14,160 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,255 | TotalAmt |
| Program Services | $132,255 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,527 | TotalAmt |
| Management And General | $21,527 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,212 | TotalAmt |
| Management And General | $18,212 | ManagementAndGeneralAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,153 | TotalAmt |
| Management And General | $7,153 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $108,182 | TotalAmt |
| Program Services | $94,423 | ProgramServicesAmt |
| Fundraising | $13,759 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,321 | TotalAmt |
| Program Services | $47,321 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,152 | TotalAmt |
| Management And General | $6,152 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | GRANT EXPENSES | Desc |
| Total | $114,307 | TotalAmt |
| Program Services | $114,307 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,727,192 | TotalAmt |
| Program Services | $4,406,644 | ProgramServicesAmt |
| Management And General | $231,471 | ManagementAndGeneralAmt |
| Fundraising | $89,077 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $395,784 | BOYAmt |
| EOY | $39,381 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $254,394 | BOYAmt |
| EOY | $340,589 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,850,500 | BOYAmt |
| EOY | $6,623,887 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,088,987 | BOYAmt |
| EOY | $2,381,581 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,589,665 | BOYAmt |
| EOY | $9,385,438 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,670 | BOYAmt |
| EOY | $23,108 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,895,000 | BOYAmt |
| EOY | $7,020,000 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $12,402 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,925,670 | BOYAmt |
| EOY | $7,055,510 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,663,995 | BOYAmt |
| EOY | -$229,739 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,559,667 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,663,995 | BOYAmt |
| EOY | $2,329,928 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,589,665 | BOYAmt |
| EOY | $9,385,438 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$334,067 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $175,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,710,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,196,661 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,211,434 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,336,857 | CurrentTaxYearAmt |
| Total | $19,629,952 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $175,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,710,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,196,661 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,211,434 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,336,857 | CurrentTaxYearAmt |
| Total | $19,629,952 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $7,504,478 | SubstantialContributorsTotAmt |
| Public Support Total170 | $12,125,474 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $929 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,831 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,775 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $24,022 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $56,268 | CurrentTaxYearAmt |
| Total | $84,825 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $11,395 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,016 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $170 | CurrentTaxYearMinus1YearAmt |
| Total | $14,581 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $19,729,358 | TotalSupportAmt |
| Public Support CY170 | 0.61460 | PublicSupportCY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $4,393,125 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $4,393,125 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $4,393,125 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $4,727,192 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $4,727,192 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $4,727,192 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION HAS BEEN DETERMINED TO BE A CHARITABLE ORGANIZATION AS DEFINED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC), AND, AS SUCH, IS EXEMPT FROM FEDERAL INCOME TAXES. THE ORGANIZATION IS ALSO EXEMPT FROM STATE INCOME TAXES. MANAGEMENT ANALYZED THE REQUIREMENT FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS JUNE 30, 2019. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (16 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| CRISTO REY NETWORK | |||||||
| 11 EAST ADAMS STREET SUITE 800 | CHICAGO | IL | 60603 | 043730980 | 501(C)(3) | $175,000 | PRIVATE SCHOOL FUNDING |
| CRISTO REY JESUIT HIGH SCHOOL MILWAUKEE | |||||||
| 1215 S 45T | W MILWAUKEE | WI | 53214 | 465457943 | 501(C)(3) | $312,500 | PRIVATE SCHOOL FUNDING |
| SETON EDUCATION PARTNERS | |||||||
| 1311 VINE STREET | CINCINNATI | OH | 45202 | 262782492 | 501(C)(3) | $450,000 | PRIVATE SCHOOL FUNDING |
| CRISTO REY ATLANTA JESUIT HIGH SCHOOL | |||||||
| 222 PIEDMONT AVENUE NE | ATLANTA | GA | 30308 | 455550340 | 501(C)(3) | $50,000 | PRIVATE SCHOOL FUNDING |
| CRISTO REY ST VIATOR LAS VEGAS COLLEGE PREPARATORY | |||||||
| 2880 VAN DER MEET ST | NORTH LAS VEGAS | NV | 89030 | 821415378 | 501(C)(3) | $300,000 | PRIVATE SCHOOL FUNDING |
| IGNITE ACADEMY | |||||||
| 3023 RIDERS PASS | ODESSA | FL | 33556 | 814874677 | 501(C)(3) | $18,000 | PRIVATE SCHOOL FUNDING |
| GARDEN CHRISTIAN ACADEMY | |||||||
| 3389 FULTON ROAD | CLEVELAND | OH | 44109 | 822532223 | 501(C)(3) | $150,000 | PRIVATE SCHOOL FUNDING |
| AZALEA MONTESSORI SCHOOL | |||||||
| 4502 CARTER AVE | CINCINNATI | OH | 45212 | 832295720 | 501(C)(3) | $40,000 | PRIVATE SCHOOL FUNDING |
| BADER HILLEL HIGH INC | |||||||
| 6789 N GREEN BAY AVE | MILWAUKEE | WI | 53209 | 823608003 | 501(C)(3) | $230,000 | PRIVATE SCHOOL FUNDING |
| IMPACT CHRISTIAN SCHOOL | |||||||
| 7702 OLD SAUK ROAD | MADISON | WI | 53717 | 471203953 | 501(C)(3) | $25,000 | PRIVATE SCHOOL FUNDING |
| THE JULIE BILLIART NETWORK | |||||||
| 80 MINEOLA AVE | AKRON | OH | 44320 | 814726551 | 501(C)(3) | $12,000 | PRIVATE SCHOOL FUNDING |
| LUTHERAN URBAN MISSION INITIATIVE INC | |||||||
| 8242 N GRANVILLE ROAD | MILWAUKEE | WI | 53717 | 161616550 | 501(C)(3) | $450,000 | PRIVATE SCHOOL FUNDING |
| MERCY EDUCATION SYSTEM OF THE AMERICAS | |||||||
| 8380 COLESVILLE ROAD | SILVER SPRING | MD | 20910 | 821445207 | 501(C)(3) | $100,000 | PRIVATE SCHOOL FUNDING |
| HAWTHORN MONTESSORI SCHOOL | |||||||
| 871 RIVERSIDE DRIVE | ASHEVILLE | NC | 28804 | 833585521 | 501(C)(3) | $45,000 | PRIVATE SCHOOL FUNDING |
| FOX FLOWER MONTESSORI SCHOOL | |||||||
| 871 RIVERSIDE DRIVE | ASHEVILLE | NC | 28804 | 833601917 | 501(C)(3) | $45,000 | PRIVATE SCHOOL FUNDING |
| ACADEMY PREP FOUNDATION | |||||||
| PO BOX 530512 | SAINT PETERSBURG | FL | 33747 | 593377240 | 501(C)(3) | $200,000 | PRIVATE SCHOOL FUNDING |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 16 | Total501c3OrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | FOUNDER'S GRANT | GrantTypeTxt |
| Recipient | 7 | RecipientCnt |
| Cash Grant | $522,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | GRANT 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN ERIKSEN | ||||||||||||||
| MANAGING TRUSTEE | $247,656 | $0 | $0 | $0 | $0 | $0 | $25,000 | $0 | $7,457 | $0 | $280,113 | $0 | $0 | $0 |
| ABIGAIL SCHUMWINGER | ||||||||||||||
| PARTNER | $196,015 | $0 | $0 | $0 | $0 | $0 | $20,452 | $0 | $23,734 | $0 | $240,201 | $0 | $0 | $0 |
| WILLIAM OLSEN | ||||||||||||||
| DIRECTOR | $143,675 | $0 | $0 | $0 | $0 | $0 | $15,113 | $0 | $27,116 | $0 | $185,904 | $0 | $0 | $0 |
| COURTNEY COLLINS SHAPIRO | ||||||||||||||
| PARTNER | $207,200 | $0 | $0 | $0 | $0 | $0 | $20,738 | $0 | $0 | $0 | $227,938 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE 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 12C | THE 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 15 | THE 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 19 | THE 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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