2015-05-16T22:18:38-05:00 2014-06-30 Mitchell & Titus LLP 1818 Market Street Suite 2900 Philadelphia PA 191033652 990 2013-07-01 222567982 THE PHILADELPHIA EDUCATION FUND % NIKELE D JONES PHIL 2156651400 1709 BENJAMIN FRANKLIN PARKWAY Suite 700 PHILADELPHIA PA 19103 NIKELE D JONES VICE PRESIDENT OF FINANCE 2156651400 2015-05-15 KEVIN M FULLER P00753803 2156651400 2015-05-15 2013 2016-02-25 16:41:14Z DARREN A SPIELMAN 1709 BENJAMIN FRANKLIN PARKWAY PHILADELPHIA PA 19103 5914011 false X WWW.PHILAEDFUND.ORG X 1984 PA THE MISSION OF THE PHILADELPHIA EDUCATION FUND (THE ED FUND) IS TO IMPROVE THE QUALITY OF PUBLIC EDUCATION IN PHILADELPHIA AND THE REGION SO THAT YOUTH ARE PREPARED FOR COLLEGE AND CAREERS. 18 18 75 0 3694986 3641737 801697 338374 236111 290620 9050 2405 4741844 4273136 1094348 977752 0 0 2852258 2885007 0 0 136049 1426711 1263444 5373317 5126203 -631473 -853067 8847521 8967639 384836 254720 8462685 8712919 X THE MISSION OF THE PHILADELPHIA EDUCATION FUND (THE ED FUND), AN INDEPENDENT NON-PROFIT ORGANIZATION, IS TO IMPROVE THE QUALITY OF PUBLIC EDUCATION IN PHILADELPHIA AND THE REGION, SO THAT YOUTH ARE PREPARED FOR COLLEGE AND CAREERS. SINCE 1985, THE ED FUND, WHICH RANKS AS ONE OF THE PREMIER ORGANIZATIONS AMONG THE MORE THAN 75 LOCAL EDUCATION FUNDS COMPRISING THE PUBLIC EDUCATION NETWORK, HAS PARTNERED WITH SCHOOLS, SCHOOL DISTRICTS, UNIVERSITIES, BUSINESSES, AND NON-PROFIT ORGANIZATIONS TO DEVELOP SCHOOL AND COMMUNITY-BASED PROGRAMS AND POLICIES AIMED AT PROVIDING CHILDREN IN THE PHILADELPHIA REGION ACCESS TO THE BEST POSSIBLE EDUCATION OPPORTUNITIES. THREE PRIMARY GOALS GUIDE THE WORK OF THE PHILADELPHIA EDUCATION FUND: * INCREASE THE NUMBER OF PUBLIC SECONDARY SCHOOLS (GRADES 6 - 12) THAT ARE HIGH PERFORMING; * INCREASE THE NUMBER OF PUBLIC SCHOOL STUDENTS WHO ACCESS POSTSECONDARY EDUCATION AND PERSIST TO COMPLETION; * POSITION THE PHILADELPHIA REGION AS CENTRAL TO STATE AND NATIONAL false false 1698514 21017 40555 THE PHILADELPHIA EDUCATION FUND HAS 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. THE ED FUND ALSO WORKS IN PARTNERSHIP WITH SCHOOLS AND SCHOOL DISTRICTS TO PROVIDE TECHNICAL ASSISTANCE ON ISSUES OF TEACHING AND LEARNING, INCLUDING WHOLE-SCHOOL REFORM. THE ED FUND'S TEACHING AND LEARNING PROGRAMS INCLUDE: * PHILADELPHIA TEACHER RESIDENCY (PTR) IS A TEACHER PREPARATION PROGRAM FOR SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH (STEM) PROFESSIONALS AND RECENT GRADUATES WHO WANT TO TEACH MATH AND SCIENCE IN PHILADELPHIA'S HIGH NEED SCHOOLS (GRADES 7-12). PTR IS A PARTNERSHIP BETWEEN THE PHILADELPHIA EDUCATION FUND, THE UNIVERSITY OF PENNSYLVANIA GRADUATE SCHOOL OF EDUCATION (PENN GSE) AND THE DREXEL UNIVERSITY SCHOOL OF EDUCATION & THE ACADEMY OF NATURAL SCIENCES OF DREXEL UNIVERSITY. FOR A FULL SCHOOL YEAR, PROGRAM PARTICIPANTS (RESIDENTS) WILL LEARN AT THE ELBOW OF EXPERIENCED TEACHERS IN PHILADELPHIA SECONDARY SCHOOL CLASSROOMS. AT THE SAME TIME, THEY WILL TAKE COURSEWORK AT EITHER THE UNIVERSITY OF PENNSYLVANIA GRADUATE SCHOOL OF EDUCATION OR DREXEL UNIVERSITY SCHOOL OF EDUCATION TO EARN BOTH A MASTER'S DEGREE AS WELL AS PENNSYLVANIA TEACHER CERTIFICATION. RESIDENTS COMMIT TO TEACH IN PHILADELPHIA PUBLIC SCHOOLS, INCLUDING CHARTER SCHOOLS, FOR AT LEAST THREE YEARS AFTER THE RESIDENCY YEAR OF PREPARATION. FOR THE GRADUATED RESIDENT'S FIRST THREE YEARS AS A FULL-TIME TEACHER OF RECORD, PTR PROVIDES ONGOING PROFESSIONAL DEVELOPMENT ACTIVITIES AND NETWORKING OPPORTUNITIES. PTR IS SINGULARLY FOCUSED ON THE THOROUGH PREPARATION OF MATH AND SCIENCE TEACHERS FOR PHILADELPHIA'S HIGH NEED, SECONDARY PUBLIC SCHOOLS. THE FIRST YEAR OF SOLO TEACHING CAN BE INTIMIDATING FOR ANY TEACHER. BUT BY THE TIME RESIDENTS BEGIN A SCHOOL YEAR IN THEIR OWN CLASSROOM, THEY ALREADY HAVE A YEAR OF EXPERIENCE, A THOROUGH UNDERSTANDING OF THE CHALLENGES THAT LIE AHEAD, AND AN ONGOING SUPPORT NETWORK. * DIPLOMAS NOW, NOW EARLY WARNING SYSTEMS, WAS BORN FROM RESEARCH CONDUCTED BY THE PHILADELPHIA EDUCATION FUND (THE ED FUND) AND JOHNS HOPKINS UNIVERSITY (JHU) IN 2006 THAT FOLLOWED APPROXIMATELY 13,000 SIXTH GRADERS IN THE 1996-97 SCHOOL YEAR THROUGH TO 2004, A YEAR PAST EXPECTED GRADUATION. AMONG THE MORE THAN 20 VARIABLES SCREENED (INCLUDING STANDARDIZED TEST SCORES, OVERAGE, GENDER, SOCIO-ECONOMIC STATUS, AND SPECIAL EDUCATION STATUS), THE FOUR VARIABLES THAT EMERGED AS MOST PREDICTIVE OF STUDENT DROP OUT WERE: - LOW ATTENDANCE (LESS THAN 80%) - POOR BEHAVIOR (THREE OR MORE NEGATIVE BEHAVIOR MARKS) - COURSE FAILURE IN LITERACY - COURSE FAILURE IN MATH THE RESEARCH SHOWED THAT STUDENTS WITH ANY OF THE EARLY WARNING INDICATORS HAVE ONLY A 10-20% CHANCE OF GRADUATING FROM HIGH SCHOOL. THESE FOUR VARIABLES MOST PREDICTIVE OF STUDENTS DROPPING OUT OF SCHOOL ARE CALLED THE EARLY WARNING INDICATORS OR ABCS (ATTENDANCE, BEHAVIOR, AND COURSE PASSAGE). THE ED FUND THEN CREATED THE EARLY WARNING INDICATORS/SYSTEMS PROJECT TO SYSTEMATICALLY COMBAT THE ABCS IN THE MIDDLE GRADES. * THE PHILADELPHIA MATH + SCIENCE COALITION, A THRIVING PARTNERSHIP OF 50 BUSINESSES, UNIVERSITIES, THE SCHOOL DISTRICT, THE PHILADELPHIA FEDERATION OF TEACHERS, AND OTHER NON-PROFITS WHICH HAS HELD HUNDREDS OF WORKING GROUP MEETINGS AND CONTRIBUTED THOUSANDS OF HOURS OF IN-KIND SERVICE DURING THE PAST THREE YEARS IN ORDER TO BRING RESOURCES AND EXPERTISE TO IMPROVE LOCALLY WHAT IS A NATIONAL CRISIS - THE QUALITY OF MATH AND SCIENCE INSTRUCTION IN PUBLIC SCHOOLS. THE COALITION'S VISION IS THAT PHILADELPHIA PUBLIC SCHOOL STUDENTS WILL GRADUATE FROM HIGH SCHOOL WITH STRONG STEM KNOWLEDGE AND SKILLS, ENABLING THEM TO SUCCEED IN A 21ST CENTURY STEM ECONOMY. THE MISSION OF THE COALITION IS TO FOSTER A COLLABORATIVE, CITY-WIDE STEM STAKEHOLDER COMMUNITY TO COORDINATE RESOURCES THAT SUPPORT PREPARATION OF ALL PHILADELPHIA PUBLIC SCHOOL STUDENTS TO BECOME PRODUCTIVE CITIZENS IN A 21ST CENTURY STEM ECONOMY. * ARTSRISING, A STRATEGIC PARTNERSHIP WITH FLEISHER ART MEMORIAL AND PUBLIC CITIZENS FOR CHILDREN AND YOUTH, A COMMUNITY-WIDE EFFORT TO IMPROVE AND EXPAND EQUITABLE ACCESS TO HIGH QUALITY ARTS EDUCATION OPPORTUNITIES FOR CHILDREN IN THE GREATER PHILADELPHIA REGION SO THAT YOUTH ARE BETTER ENGAGED IN LEARNING AND FIND MULTIPLE PATHWAYS TO SUCCESS IN SCHOOL AND IN THEIR COMMUNITY. THIS PROGRAM INITIATIVE ENDED DECEMBER 31, 2013. THIS PROGRAM INITIATIVE ENDED DECEMBER 31, 2013. 2333405 952550 266892 THE GOAL OF THE ED FUND'S DIRECT SERVICES PROGRAMS IS TO BRING 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, CHARTER SCHOOLS, 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. THE ED FUND'S DIRECT SERVICES TO STUDENTS INCLUDES: * CREATED IN 1990, THE COLLEGE ACCESS PROGRAM IS PHILADELPHIA'S LARGEST AND MOST BROADLY BASED COLLEGE ASSISTANCE PROGRAM. WE HELP MAKE A COLLEGE EDUCATION ACCESSIBLE TO ANYONE INTERESTED IN PURSUING HIGHER EDUCATION REGARDLESS OF AGE, GRADE LEVEL, OR LOCATION. WE SERVE INDIVIDUAL BY PROVIDING DIRECT SERVICES TO MIDDLE AND HIGH SCHOOL STUDENTS FROM SELECT PARTNER SCHOOLS AND OFFERING INDIVIDUALIZED SUPPORT AT OUR PUBLIC COLLEGE ACCESS AND SUCCESS CENTER. * PHILADELPHIA SCHOLARS PROGRAM AWARDS "LAST DOLLAR" SCHOLARSHIPS FOR COLLEGE ACCESS PARTICIPANTS IN GOOD STANDING AT ACCREDITED COLLEGES AND UNIVERSITIES ACROSS THE COUNTRY. SCHOLARSHIPS ARE PROVIDED TO GRADUATES OF 18 PUBLIC AND CHARTER HIGH SCHOOLS ACROSS PHILADELPHIA. SINCE 1990, THE PHILADELPHIA SCHOLARS PROGRAM HAS AWARDED OVER $10 MILLION IN "LAST DOLLAR" SCHOLARSHIPS TO MORE THAN 1900 COLLEGE ACCESS STUDENTS. IN THE LAST YEAR, THE PROGRAM SUPPORTED OVER 300 STUDENTS WITH $1 MILLION IN COLLEGE SCHOLARSHIPS. * THE PHILADELPHIA POSTSECONDARY SUCCESS PROGRAM (PPSP) IS A COLLABORATIVE INITIATIVE DESIGNED TO INCREASE THE NUMBER OF LOW-INCOME AND FIRST-GENERATION PUBLIC HIGH SCHOOL STUDENTS WHO ENROLL AND SUCCEED IN POSTSECONDARY EDUCATION. PPSP WAS INITIALLY SUPPORTED WITH A FIVE-YEAR GRANT FROM THE CITI FOUNDATION TO LAUNCH A NATIONAL POSTSECONDARY SUCCESS PROGRAM, WORKING WITH THREE LOCAL EDUCATION FUNDS IN PHILADELPHIA, MIAMI, AND SAN FRANCISCO. THE ACE GROUP, A MATCH FUNDING PARTNER AFTER THE SECOND YEAR OF THE INITIATIVE, HAS AGREED TO CONTINUE TO SUPPORT THE WORK GOING FORWARD. PPSP IS WORKING INITIALLY WITH FOUR PILOT SCHOOLS: * BENJAMIN FRANKLIN HIGH SCHOOL * ROXBOROUGH HIGH SCHOOL * KENSINGTON INTERNATIONAL BUSINESS/FINANCE & ENTREPRENEURIAL HIGH SCHOOL * KENSINGTON CREATIVE AND PERFORMING ARTS HIGH SCHOOL THROUGH A BROAD-BASED PARTNERSHIP TO DEVELOP A MODEL COLLEGE ACCESS AND SUCCESS SYSTEM. THE KEY WORK INCLUDES COORDINATING AND ALIGNING SERVICES THAT SUPPORT COLLEGE PREPARATION, CONTRIBUTING TO SCHOOL-WIDE COLLEGE READINESS CULTURES, AND INVOLVING STUDENT AND PARENTS IN PLANNING FOR COLLEGE BEGINNING IN THE NINTH GRADE. OVER THE PAST FIVE YEARS, A UNIQUE AND POWERFUL PUBLIC/PRIVATE PARTNERSHIP BETWEEN THE ED FUND, THE SCHOOL DISTRICT OF PHILADELPHIA AND SEVERAL LOCAL COLLEGES/UNIVERSITIES, HAS DEMONSTRATED THAT THE MAJOR OBSTACLE STANDING BETWEEN OUR STUDENTS AND POSTSECONDARY SUCCESS IS THE ABILITY TO CREATE A CLEAR PATHWAY OF SUPPORTS AND SERVICES FOR ALL STUDENTS. PPSP HAS DEVELOPED PARTNERSHIPS OF STAKEHOLDERS FROM K-12, COMMUNITY-BASED ORGANIZATIONS, POSTSECONDARY INSTITUTIONS, AND THE BUSINESS, FOUNDATION AND CIVIC SECTORS TO IMPROVE ACCESS TO COLLEGE FOR LOW-INCOME AND PUBLIC HIGH SCHOOL STUDENTS 118503 4185 4000 AT THE HEART OF THE ED FUND'S CIVIC ENGAGEMENT WORK IS THE BELIEF THAT WITH CONSOLIDATED RESOURCES, COMMITTED LEADERSHIP, AND A COMMUNITY-WIDE FOCUS ON RESULTS, MORE FAMILIES WILL REALIZE THE DREAM OF SEEING THEIR CHILDREN RECEIVE A RIGOROUS SECONDARY EDUCATION THAT PREPARES THEM FOR COLLEGE AND CAREERS. TOWARDS THAT END, THE ED FUND ENABLES PARTNERS - STUDENTS, 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. THE ED FUND'S CIVIC ENGAGEMENT ACTIVITIES INCLUDE: * COMMUNITY PARTNERSHIP FOR NEIGHBORHOOD REFORM ENCOURAGES PARENTS AND COMMUNITY MEMBERS TO TAKE ACTION IN THE SCHOOL REFORM PROCESS AND SEEK IMPROVEMENTS IN THEIR NEIGHBORHOOD HIGH SCHOOLS. * ADVOCATING WITH OTHER STATEWIDE ORGANIZATIONS FOR EQUITABLE AND ADEQUATE SCHOOL FUNDING. * THE EDUCATION FIRST COMPACT, A WELL-ORGANIZED, ENGAGED AND HIGHLY INTERACTIVE GROUP, WHICH PROVIDES A FOCUSED AND FORCEFUL FORUM FOR DISCUSSION AND ADVOCACY IN REGARD TO ISSUES THAT ARE TIMELY AND CRITICAL TO THE ACADEMIC WELL-BEING OF PHILADELPHIA PUBLIC SCHOOL STUDENTS, LEADING TO EMERGENCE OF A PUBLIC VOICE THAT HAS CONTRIBUTED TO MODIFICATION OF TEACHERS' CONTRACTS, SITE-BASED TEACHER SELECTION AND SUPPORT FOR THE SMALL HIGH SCHOOLS MOVEMENT. * THE TEACHER NETWORKS INITIATIVE IS DESIGNED TO INCREASE THE PHILADELPHIA EDUCATION FUND'S CAPACITY TO FACILITATE, SUPPORT, AND INCUBATE BOTH "INTERNAL" (PROGRAM- OR PROGRAM-AREA RELATED) AND "EXTERNAL" (OUT-OF-SCHOOL, TEACHER-LED) TEACHER NETWORKS. THE ED FUND'S FOCUS FOR THE OUTCOME OF THIS WORK INCLUDES AN INCREASED CAPACITY TO SUPPORT THE INTERNAL AND EXTERNAL TEACHER NETWORKS WITH WHICH THE ED FUND IS CURRENTLY ENGAGED, THE DEVELOPMENT AND ENACTMENT OF A STRATEGY TO INCUBATE EMERGING TEACHER NETWORKS IN PHILADELPHIA AND THE DEVELOPMENT OF A WEB-BASED HUB TO CONNECT TEACHER NETWORKS AND TEACHERS IN THE CITY. 26927 26927 RESEARCH AND EVALUATION 26927 26927 4177349 true true false false false false false false false false true false false true true false true false false false false false false false true false false false true true false false false false false false false false false false false false false false false false false true 192 0 true 75 true false false false false false true true false false false false X 18 18 false false false false false false false true true false false true true true true true false true true false PA X NIKELE D JONES 2156651400 1709 BENJAMIN FRANKLIN PKWYSTE 700 PHILADELPHIA PA 19103 DAVID BAKER BOARD CHAIR 1.0 0.0 X X 0 0 0 MARK SILOW BOARD TREASURER 1.0 0.0 X X 0 0 0 RAY CREELY BOARD MEMBER 1.0 0.0 X 0 0 0 ERIC FLICKER BOARD MEMBER 1.0 0.0 X 0 0 0 JUDITH GAY BOARD MEMBER 1.0 0.0 X 0 0 0 LYNNE GOLD-BIKIN ESQ BOARD MEMBER 1.0 0.0 X 0 0 0 DONALD HASKIN BOARD MEMBER 1.0 0.0 X 0 0 0 JERRY JORDAN BOARD MEMBER 1.0 0.0 X 0 0 0 KAREN KASKEY BOARD MEMBER 1.0 0.0 X 0 0 0 LUCY KERMAN BOARD MEMBER 1.0 0.0 X 0 0 0 SHERRI KYLE JONES BOARD MEMBER 1.0 0.0 X 0 0 0 GREGORY ANDERSON BOARD MEMBER 1.0 0.0 X 0 0 0 SOPHIA LEE BOARD MEMBER 1.0 0.0 X 0 0 0 LESLEY TEWNION BOARD MEMBER 1.0 0.0 X 0 0 0 JOANN MITCHELL BOARD MEMBER 1.0 0.0 X 0 0 0 DEBORAH O'BRIEN BOARD MEMBER 1.0 0.0 X 0 0 0 SIOBHAN REARDON BOARD MEMBER 1.0 0.0 X 0 0 0 KIRBY SMITH BOARD MEMBER 1.0 0.0 X 0 0 0 DARREN SPIELMAN PRESIDENT & CEO 35.0 0.0 X 150000 0 28724 NIKELE JONES VP FINANCE & ADMINISTRATION 35.0 0.0 X 87086 0 24129 WANDA MIAL SENIOR VICE PRESIDENT 35.0 0.0 X 95465 0 8113 332551 0 60966 1 false true false COMMUNITIES IN SCHOOLS OF PA 2000 HAMILTON STREET SUITE 201 PHILADELPHIA PA 19103 100000 0 50410 1273901 2317426 3641737 CONTRACT REVENUE 611710 207682 207682 SCHOLARSHIP REIMBURSEMENTS 900099 130692 130692 338374 193331 193331 0 0 0 0 0 1684661 1587372 97289 97289 97289 55908 53503 2405 2405 0 0 0 4273136 338374 293025 0 977752 977752 0 0 332551 215465 87086 30000 0 1929391 1679838 172886 76667 51968 47291 2235 2442 368161 334909 15850 17402 202936 184672 8726 9538 0 76 76 55808 55808 0 0 0 380317 289848 90469 0 21697 7739 13958 54240 54240 0 246246 78525 167721 34738 31322 3416 0 83979 68611 15368 1360 1360 0 30737 8307 22430 51049 855 50194 HONORARIA AND STIPENDS 98967 98967 DUES AND SUBSCRIPTIONS 25570 18360 7210 PROGRAM MATERIALS 41210 39987 1223 ALL OTHER EXPENSES 137450 94901 42549 5126203 4177349 812805 136049 4439 2800 143212 195019 0 10997 785017 522471 0 0 0 0 0 0 0 0 54568 55693 620465 546011 97613 74454 7013650 7119473 0 0 0 0 0 0 749022 986732 8847521 8967639 160480 78555 0 0 58990 51098 0 0 0 0 0 0 0 0 0 0 165366 125067 384836 254720 X 1327347 971685 7135338 7741234 0 0 8462685 8712919 8847521 8967639 -853067 1103301 X false true X true true true X 3594456 4048885 4342121 3694986 3641737 19322185 0 0 3594456 4048885 4342121 3694986 3641737 19322185 5097279 14224906 219408 197153 237909 209966 193331 1057767 0 0 20379952 5330595 0.69798 0.76174 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 145473 98037 47436 322453 295435 27018 152539 152539 74454 RESTRICTED CASH HELD - OTHERS 25067 RESTRICTED CASH EQUIVALENTS 951142 OTHER ASSETS 10523 986732 0 DUE TO THIRD PARTY 25067 LINE OF CREDIT 100000 125067 5524397 1103301 94457 1197758 4326639 -53503 -53503 4273136 5274163 94457 53503 147960 5126203 5126203 FORM 990, SCHEDULE D, PART XI, LINE 4B AND PART XII, LINE 2D - OTHER SPECIAL EVENT DIRECT EXPENSES: $53,503. FORM 990, SCHEDULE D, PART X, LINE 2 THE PHILADELPHIA EDUCATION 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 2010. EDDYS 106318 50410 55908 2500 20146 30857 0 106318 50410 55908 2500 20146 30857 53503 2405 true GRANTS AND SCHOLARSHIPS 280 977752 FORM 990, SCHEDULE I, PART I, LINE 2 THE PHILADELPHIA SCHOLARS PROGRAM PROVIDES LAST DOLLAR SCHOLARSHIPS TO GRADUATES OF 18 PUBLIC AND CHARTER HIGH SCHOOLS ACROSS PHILADELPHIA. SINCE THE PROGRAM STARTED IN 1990, WE HAVE GIVEN OUT OVER $10 MILLION TO MORE THAN 1,900 STUDENTS! WE PROVIDE OUR SCHOLARS WITH MENTORSHIP OPPORTUNITIES, WORKSHOPS WITH A COLLEGE SUCCESS AND CAREER PREP FOCUS, AND ONGOING SUPPORT. WE ALSO WORK WITH THE 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. WE HAVE COLLEGE ACCESS COORDINATORS AT FIVE HIGH SCHOOLS AND AT OUR PUBLIC COLLEGE ACCESS AND SUCCESS CENTER. THE LAST DOLLAR SCHOLARSHIP IS A NEED-BASED "GAP-FILLING" AWARD. IT IS AWARDED WHEN A FAMILY'S EXPECTED FAMILY CONTRIBUTION (EFC) AND FINANCIAL AID PACKAGE TOTAL ARE LESS THAN THE COST OF ATTENDANCE; RESULTING IN UNMET FINANCIAL NEED. THROUGH THE PHILADELPHIA EDUCATION FUND, THE PHILADELPHIA SCHOLARS PROGRAM ADMINISTERS LAST DOLLAR SCHOLARSHIPS TO HIGH SCHOOL GRADUATES OF OUR COLLEGE ACCESS PROGRAM AND PARTNER HIGH SCHOOLS WHO HAVE A DOCUMENTED UNMET NEED BETWEEN $200 AND $4,000 DURING AN ACADEMIC YEAR. GRADUATING HIGH SCHOOL SENIORS WHO ACTIVELY PARTICIPATE IN THE PHILADELPHIA EDUCATION FUND COLLEGE ACCESS PROGRAM WITHIN ONE OF THE FIVE COLLEGE ACCESS PROGRAM SCHOOLS ARE ELIGIBLE TO APPLY. ALSO GRADUATING HIGH SCHOOL SENIORS AT PARTNER SCHOOLS ARE ABLE TO APPLY AND RECEIVE INFORMATION FROM THEIR GUIDANCE COUNSELOR AND MAY BE ELIGIBLE TO RECEIVE SCHOLARSHIP MONEY CONTINGENT ON AVAILABLE FUNDING. STUDENTS APPLY FOR GRANTS THROUGH THE ONLINE APPLICATION PROCESS. COMPLETED APPLICATIONS, ALONG WITH REQUIRED DOCUMENTATION ARE REVIEWED BY ED FUND PERSONNEL. SCHOLARSHIPS ARE DETERMINED BY SUBTRACTING THE EXPECTED FAMILY CONTRIBUTION (EFC) AND FINANCIAL AID PACKAGE FROM YOUR COLLEGE'S TOTAL COST OF ATTENDANCE. ANNUAL AWARD AMOUNTS WILL RANGE FROM $200 TO $4,000 DEPENDING ON NEED. STUDENTS CAN ONLY RECEIVE LAST DOLLAR SCHOLARSHIPS IF THEY HAVE UNMET FINANCIAL NEED, WHICH THE PHILADELPHIA SCHOLARS DETERMINES BY USING THE ABOVE FORMULA. IF A STUDENT DOES NOT DEMONSTRATE UNMET NEED, THEN HE/SHE WILL BE INELIGIBLE FOR THE LAST DOLLAR SCHOLARSHIP. SCHOLARSHIPS ARE RENEWAL FOR UP TO SIX YEARS. STUDENTS MUST REAPPLY EACH YEAR AND MET CERTAIN REQUIREMENTS: 1) STUDENTS MUST HAVE A DOCUMENTED UNMET NEED THAT IS WITHIN $200 - $4,000; 2) STUDENTS MUST BE ENROLLED FULL-TIME (12 OR MORE CREDITS PER SEMESTER) PURSUING AN ASSOCIATE'S OR BACHELOR'S DEGREE FROM AN ACCREDITED INSTITUTION; AND, 3) STUDENTS ARE REQUIRED TO PARTICIPATE IN TEN (10) HOURS OF COMMUNITY SERVICE EACH ACADEMIC YEAR THAT THEY REAPPLY FOR THE SCHOLARSHIP. REQUESTS FOR SCHOLARSHIP DISBURSEMENTS ARE SENT TO THE FINANCE DEPARTMENT ALONG WITH ALL SUPPORTING DOCUMENTATION FOR REVIEW AND APPROVAL. DISBURSEMENTS FOR THE SCHOOL YEAR ARE MADE TWICE A YEAR, IN THE FALL AND SPRING SEMESTERS. EACH SCHOLARSHIP DISBURSEMENT IS IN THE COLLEGE AND STUDENTS NAME AND REQUIRES DUAL ENDORSEMENTS. IN ADDITION, EACH SCHOLARSHIP CHECK IS SENT ALONG WITH A LETTER REQUESTING THE FINANCIAL AID OFFICE CONFIRM THAT THE STUDENT IS ENROLLED AT THE COLLEGE OR UNIVERSITY AS A FULL TIME STUDENT. 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 THE CHECK. X X X X false false false false false false false false false DARREN SPIELMAN PRESIDENT & CEO 150000 0 0 0 0 0 6000 0 22724 0 178724 0 0 0 FORM 990, PART VI, LINE 11B 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, 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 FUNDS EXECUTIVE COMMITTEE. FORM 990, PART VI, LINE 15A & 15B THE ED FUND'S EXECUTIVE DIRECTOR COMPENSATION WAS DETERMINED BASED ON A COLLABORATIVE EFFORT BETWEEN THE SEARCH COMMITTEE CONSISTING OF THE ED FUND'S EXECUTIVE COMMITTEE, PROGRAM DIRECTOR AND AN OUTSIDE STAKEHOLDER; AN OUTSIDE EXECUTIVE RECRUITING AGENCY AND THE ED FUND'S DIRECTOR OF FINANCE AND ADMINISTRATION. THE SEARCH COMMITTEE REVIEWS THE COMPENSATION OF THE PRECEDING EXECUTIVE DIRECTOR, THE COMPENSATION OF OTHER EXECUTIVE DIRECTORS AT NON-PROFIT ORGANIZATIONS OF SIMILAR SIZE AND BUDGET IN THE REGION AND DETERMINES A COMPENSATION RANGE. THE RANGE IS VIEWED IN CONJUNCTION WITH THE ORGANIZATION'S CURRENT AND PROSPECTIVE BUDGETS AND THE POTENTIAL CANDIDATE'S SALARY REQUEST. THE INITIAL OFFER IS APPROVED BY THE SEARCH COMMITTEE WITH THE FINAL ACCEPTANCE APPROVED BY THE BOARD CHAIR. ANY SUBSEQUENT INCREASES AND DECREASES IN THE BASE COMPENSATION OR BONUSES GIVEN ARE APPROVED BY THE EXECUTIVE COMMITTEE. THIS PROCESS WAS LAST USED IN APRIL 2012 WITH THE HIRING OF OUR NEW EXECUTIVE DIRECTOR. KEY EMPLOYEE'S SALARY IS DETERMINED BY LOOKING AT THE COMPENSATION INCLUDED IN THE BUDGET FOR THAT POSITION AND THE PROSPECTIVE EMPLOYEE'S COMPENSATION REQUEST. ALL COMPENSATION FOR NEW EMPLOYEES IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND/OR BOARD TREASURER AND FINANCE DIRECTOR. FORM 990, PART VI, LINE 19 THE ED FUND MAKES CERTAIN GOVERNING DOCUMENTS AVAILABLE UPON WRITTEN REQUEST.