2019-02-08T08:27:49-06:00 2018-06-30 221914888 NISIVOCCIA LLP 200 VALLEY RD SUITE 300 MT ARLINGTON NJ 07856 990 2017-07-01 465768451 THE DREXEL FUND DREX 6177788110 606 E JUNEAU AVENUE 510635 MILWAUKEE WI 53203 JOHN ERIKSEN MANAGING TRUSTEE 6177788110 2019-02-04 1 CHRIS PERROTTA CPA P01450368 9733281825 2019-02-04 96.57.126.58 2019-02-04 19:03:01 ES P 00391D0131DDC982E26CFEFC09860E696DD1CC6F 00391D0131DDC982E26CFEFC09860E696DD1CC6F 2017 2019-02-21 02:37:17Z JOHN ERIKSEN 606 E JUNEAU AVENUE 510635 MILWAUKEE WI 53203 10710626 0 X WWW.DREXELFUND.ORG X 2015 CA THE DREXEL FUND IS A VENTURE PHILANTHROPY FUND THAT INVESTS AND PARTNERS IN THE GROWTH OF HIGH QUALITY, FINANCIALLY SUSTAINABLE NETWORKS OF FAITH BASED AND OTHER PRIVATE SCHOOLS. 14 9 6 0 0 0 3196661 6211434 0 0 12473 24022 3016 170 3212150 6235626 2325000 4431113 0 0 660086 1034766 0 0 0 415041 329475 3400127 5795354 -187977 440272 5131880 8589665 2908157 5925670 2223723 2663995 THE DREXEL FUND IS A VENTURE PHILANTHROPY FUND THAT INVESTS AND PARTNERS IN THE GROWTH OF HIGH QUALITY, FINANCIALLY SUSTAINABLE NETWORKS OF FAITH BASED AND OTHER PRIVATE SCHOOLS. 0 0 4431113 4431113 GRANTS TO FAITH BASED PRIVATE SCHOOLS. 4431113 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 6 1 0 0 0 0 0 0 0 0 0 0 X 14 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X JANE BROWN 9738961254 TWO ORIOLE TERRACE SPARTA NJ 07871 BJ CASSIN CHAIRMAN 2.00 X X 0 0 0 THOMAS HEALEY TREASURER 2.00 X X 0 0 0 DARREN JACKSON SECRETARY 2.00 X X 0 0 0 DR DANIEL SCOGGIN TRUSTEE 2.00 X 0 0 0 ROBERT BIRDSELL TRUSTEE 2.00 X 0 0 0 JOHN ERIKSEN MANAGING TRUSTEE 40.00 X X 250000 0 32682 ABIGAIL SCHUMWINGER PARTNER 40.00 X 203000 0 48821 DARLA ROMFO TRUSTEE 2.00 X 0 0 0 CHRISTOPHER WILSON TRUSTEE 2.00 X 0 0 0 MICHAEL G MESSNER TRUSTEE 2.00 X 0 0 0 WILLIAM OLSEN DIRECTOR 40.00 X 75000 0 31616 COURTNEY COLLINS SHAPIRO PARTNER 40.00 X 0 0 0 CHRISTA MARIE KEEL DIRECTOR OF FINANCE 40.00 X 0 0 0 ELIZABETH J BROWN CFO 20.00 X 93888 0 9250 621888 0 122369 2 0 1 0 0 6211434 6211434 24022 24022 4475000 4475000 0 OTHER 900099 170 170 170 6235626 0 0 24192 4347500 4347500 83613 83613 982165 982165 52601 52601 12278 12278 110070 110070 34875 34875 11122 11122 157372 157372 3758 3758 5795354 4431113 1364241 0 789446 395784 483863 254394 2175000 5850500 1683571 2088987 5131880 8589665 83157 30670 2825000 5895000 2908157 5925670 X 2223723 2663995 2223723 2663995 5131880 8589665 440272 0 X X 0 1 X 1 0 X 175000 5710000 3246661 6211434 15343095 175000 5710000 3246661 6211434 15343095 4529585 10813510 929 1831 12473 24022 39255 11395 3016 170 14581 15396931 X 0 X 6235626 0 6235626 0 6235626 5795354 0 5795354 0 5795354 PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT ASSOCIATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE ORGANIZATION IS ALSO EXEMPT UNDER SIMILAR STATE OF CALIFORNIA TAX PROVISIONS. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC, INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION RELATED TO THOSE TAX POSITIONS. THE ORGANIZATION DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED JUNE 30, 2018. HOWEVER, THE ORGANIZATION IS SUBJECT TO REGULAR AUDIT BY TAX AUTHORITIES, INCLUDING A REVIEW OF ITS NONPROFIT STATUS WHICH MANAGEMENT BELIEVES WOULD BE UPHELD UPON EXAMINATION. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED FOR EACH YEAR. AS REQUIRED BY LAW, THE ORGANIZATION FILES INFORMATIONAL RETURNS WITH BOTH THE UNITED STATES FEDERAL AND STATE OF CALIFORNIA JURISDICTIONS ON AN ANNUAL BASIS - FORM 990 WITH THE INTERNAL REVENUE SERVICE, AND A CHARITABLE TRUST REPORT WITH THE STATE OF CALIFORNIA. THESE RETURNS ARE SUBJECT TO EXAMINATION BY THESE AUTHORITIES WITHIN CERTAIN STATUTORILY DEFINED PERIODS FROM THE LATEST FILING DATE FOR FEDERAL AND FOR CALIFORNIA. 1 CRISTO REY NETWORK 14 EAST JACKSON BLVD STE 1200 CHICAGO IL 60604 043730980 501(C)(3) 1155000 PRIVATE SCHOOL FUNDING. FUGEES FAMILY 1933 E DUBLIN GRANVILLE RD 117 COLUMBUS OH 43229 205771149 501(C)(3) 1350000 PRIVATE SCHOOL FUNDING. LUTHERAN URBAN MISSION INITIATIVE 8242 N GRANVILLE RD MILWAUKEE WI 53224 161616550 501(C)(3) 32500 PRIVATE SCHOOL FUNDING. THE WILDFLOWER FOUNDATION 1010 W LAKE STREET SUITE 100 MINNEAPOLIS MN 55408 812826681 501(C)(3) 60000 PRIVATE SCHOOL FUNDING GREATHEARTS ACADEMIES 4801 E WASHINGTON ST STE 250 PHOENIX AZ 85034 202036133 501(C)(3) 200000 PRIVATE SCHOOL FUNDING. HOPE CHRISTIAN SCHOOLS 8920 W BROWN DEER ROAD MILWAUKEE WI 53224 392014547 501(C)(3) 50000 PRIVATE SCHOOL FUNDING. BUILD UP 1517 AVENUE D BIRMINGHAM AL 35218 822592447 501(C)(3) 400000 PRIVATE SCHOOL FUNDING. KINGDOM PREP PO BOX 64028 LUBBOCK TX 79464 390822084 501(C)(3) 500000 PRIVATE SCHOOL FUNDING. GOOD SHEPHERD MISSION NETWORK 353 BARONNE STREET NEW ORLEANS LA 70112 820701910 501(C)(3) 600000 PRIVATE SCHOOL FUNDING. PRIVATE SCHOOL FUNDING 1 83613 PART I, LINE 2: 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. 1 0 0 0 0 0 0 0 0 0 JOHN ERIKSEN MANAGING TRUSTEE 250000 0 0 0 0 0 25000 0 7682 0 282682 0 0 0 ABIGAIL SCHUMWINGER PARTNER 203000 0 0 0 0 0 21150 0 27671 0 251821 0 0 0 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 ORGANIZATIONS GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH A REASONABLE AMOUNT OF TIME TO REVIEW THE FORM 990. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND 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 WILL INVESTIGATE THE ISSUE. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST 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 CODE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 606 E JUNEAU AVENUE #510635 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 ORGANIZATIONS OFFICE AT 606 E JUNEAU AVENUE #510635 MILWAUKEE, WI 53203. FORM 990 PART XII LINE 2C THERE WAS NO CHANGE FROM THE PRIOR YEAR.