2017-02-15T14:50:54-06:00 2016-06-30 132781641 MITCHELL & TITUS LLP ONE BATTERY PARK PLAZA NEW YORK NY 10004 990 2015-07-01 222567982 THE PHILADELPHIA EDUCATION FUND PHIL 2156651400 1709 BENJAMIN FRANKLIN PARKWAY 700 PHILADELPHIA PA 19103 farah jimenez president and CEO 2156651400 2017-02-15 1 Frederick E Davis Jr P00446023 2127094500 2015 2021-01-29 14:40:06Z farah jimenez 1709 BENJAMIN FRANKLIN PARKWAY 700 PHILADELPHIA PA 19103 4635642 0 X WWW.PHILAEDFUND.ORG X 1984 PA To drive exceptional outcomes for all students by developing great teachers and building paths to college and career success. 16 16 41 0 0 0 3115553 2719561 314575 234602 153413 -118301 2254 102138 3585795 2938000 964269 989293 0 0 2452240 1839319 0 0 111467 1000527 952189 4417036 3780801 -831241 -842801 8020467 6640211 277751 283860 7742716 6356351 X The Ed Fund aims to establish and coordinate high-quality educator development and support for Philadelphia public schools by improving teacher preparation programs in Philadelphia; improving professional development of Philadelphia public school teachers; and networking teachers to build support, learning, and leadership opportunities. The Ed Fund also envisions building a college-and-career-going culture 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; and aligning instruction across secondary and postsecondary institutions. 0 0 849729 12569 98146 Through the teaching, learning and Innovation programs, the Philadelphia Education Fund has had a long and distinguished history of preparing new teachers for public schools and working with teachers to improve the quality of teaching and learning in public schools. Ed Fund program and policy efforts encompass the continuum of teacher learning from pre-service and induction through in-service professional development. 2201107 969724 136456 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. 49639 7000 At the heart of the Philadelphia Education Fund's Policy and Partnerships work is the belief that with consolidated resources, committed leadership, and a community-wide focus on results, more families will realize the dream of their children receiving a rigorous k12 education that prepares them for college and career. Towards that end, the Ed Fund enables partners (students, parents, school staff and administration, community-based organizations, businesses, and higher-education faculty and administrators) to improve education for all students by leveraging new resources, information, and expertise. 3100475 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 113 0 1 41 1 0 0 0 0 0 1 1 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X NIKELE D JONES 2156651400 1709 BENJAMIN FRANKLIN PARKWAY 700 PHILADELPHIA PA 19103 DAVID BAKER BOARD CHAIR 1.00 0.00 X X 0 0 0 MARK SILOW BOARD TREASURER 1.00 0.00 X X 0 0 0 RAY CREELY BOARD MEMBER 1.00 0.00 X 0 0 0 DARWIN WALKER BOARD MEMBER 1.00 0.00 X 0 0 0 JUDITH GAY BOARD MEMBER 1.00 0.00 X 0 0 0 LYNNE GOLD-BIKIN ESQ BOARD MEMBER 1.00 0.00 X 0 0 0 DONALD HASKIN BOARD MEMBER 1.00 0.00 X 0 0 0 MATT CABREY BOARD MEMBER 1.00 0.00 X 0 0 0 LUCY KERMAN BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN G GINELLI BOARD MEMBER 1.00 0.00 X 0 0 0 GREGORY ANDERSON BOARD MEMBER 1.00 0.00 X 0 0 0 SOPHIA LEE BOARD MEMBER 1.00 0.00 X 0 0 0 JOANN MITCHELL BOARD MEMBER 1.00 0.00 X 0 0 0 DEBORAH O'BRIEN BOARD MEMBER 1.00 0.00 X 0 0 0 SIOBHAN REARDON BOARD MEMBER 1.00 0.00 X 0 0 0 Lesley Tewnion BOARD MEMBER 1.00 0.00 X 0 0 0 ROSALYN J MCPHERSON BOARD MEMBER 1.00 0.00 X 0 0 0 DARREN SPIELMAN PRESIDENT & CEO (THRU FEB 2016) 35.00 0.00 X 131960 0 24602 NIKELE JONES VP FINANCE & ADMINISTRATION 35.00 0.00 X 89209 0 19620 FARAH JIMENEZ PRESIDENT & CEO (as of April 2016) 35.00 0.00 X 0 0 0 221169 0 44222 1 0 1 0 0 121649 580920 2016992 2719561 Scholarship Reimbursement 136456 136456 Contract Revenue 98146 98146 234602 238374 238374 1310330 1667005 -356675 -356675 -356675 32297 121649 30637 1660 1660 Gain from Insurance Proceeds 900099 100478 100478 100478 2938000 234602 0 -16163 989293 989293 250217 221529 21516 7172 1217153 1077601 104664 34888 40898 35971 3695 1232 198055 174196 17894 5965 132996 116975 12016 4005 112 66 46 51862 15000 36862 279684 222933 23182 33569 10706 3933 6773 50894 14032 36862 225061 10894 214087 80 33344 30701 2643 96205 78792 2627 14786 1034 1034 25551 8602 16949 27434 27434 PROGRAM MATERIALS 36789 34663 350 1776 DUES AND SUBSCRIPTIONS 26290 22000 4290 HONORARIA AND STIPENDS 14049 12549 1000 500 73174 30745 34935 7494 3780801 3100475 568859 111467 996 1123 190295 143157 4018 98056 337220 349651 36960 34262 677011 601315 46300 75696 6649039 5082409 755639 855857 8020467 6640211 82566 74480 51098 51004 144087 158376 277751 283860 X 737818 754189 7004898 5602162 7742716 6356351 8020467 6640211 -842801 -543564 0 X 0 1 X 1 1 1 X 4342121 3694986 3641737 3115553 2719561 17513958 4342121 3694986 3641737 3115553 2719561 17513958 3455297 14058661 237909 209966 193331 254058 238374 1133638 18647596 3162869 0.75390 0.76930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 145473 125873 19600 359787 321998 37789 171751 153444 18307 75696 RESTRICTED CASH HELD - OTHERS 58376 RESTRICTED CASH EQUIVALENTS 786958 OTHER ASSETS 10523 855857 DUE TO THIRD PARTY 58376 LINE OF CREDIT 100000 158376 X 2394436 -543564 -543564 2938000 0 2938000 3780801 0 3780801 0 3780801 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 disclosure 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 2012. dinner 153946 121649 32297 666 14786 15185 153946 121649 32297 666 14786 15185 30637 1660 1 GRANTS AND SCHOLARSHIPS 297 989293 Part I, Line 2: The Philadelphia Scholars Program provides Last Dollar Scholarships to graduates of 20 public and charter high schools across Philadelphia. Since the Scholars program started in 1990, the Ed Fund has given out over $13 million to more than 2,700 students. In addition to providing scholarship dollars to attend college, the Scholars Program provides our Scholars with mentorship opportunities, workshops with a college success and career prep focus, and ongoing college support. The Scholars Program also works in conjunction with the Ed Fund's College Access Program, which helps students get prepared for college by holding workshops, helping students apply for financial aid, giving essay writing advice, and more. 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 DARREN SPIELMAN PRESIDENT & CEO (THRU FEB 2016) 131960 0 0 0 0 0 0 0 24602 0 156562 0 0 0 Form 990, Part VI, Section B, line 11 A COPY 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 SPECIFICED 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 COMPLETE THE CONFLICT OF INTEREST FORM EVERY YEAR. ANY CONFLICTS DISCLOSED ARE REVEIWED BY THE ED FUND'S EXECUTIVE COMMITTEE. Form 990, Part VI, Section B, line 15 THE PRESIDENT 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. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEE'S SALARY IS DETERMINED BY LOOKING AT THE COMPENSATION INCLUDED IN THE organization's BUDGET FOR THAT POSITION AND THE PROSPECTIVE EMPLOYEE'S COMPENSATION REQUEST. ALL COMPENSATION FOR NEW EMPLOYEES IS REVIEWED AND APPROVED BY THE PRESIDENT AND CEO AND/OR BOARD TREASURER AND vice president of finance and administration. Form 990, Part VI, Section C, line 19 THE ED FUND MAKES CERTAIN GOVERNING DOCUMENTS AVAILABLE UPON WRITTEN REQUEST.