Pennsylvanias State System Of Higher Education Foundation

Organization Overview

Pennsylvanias State System Of Higher Education Foundation is located in Carlisle, PA. The organization was established in 1986. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Pennsylvanias State System Of Higher Education Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvanias State System Of Higher Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Pennsylvanias State System Of Higher Education Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 14.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO SUPPORT THE EDUCATIONAL MISSION AND ACTIVITIES OF PENNSYLVANIA'S STATE SYSTEM OF HIGHER EDUCATION BY GENERATING PRIVATE SECTOR SUPPORT AND ENGAGING IN OTHER ACTIVITIES TO ADVANCE THE SYSTEM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION MAINTAINS PROGRAMS THAT AWARD SCHOLARSHIPS ANNUALLY THAT ARE NEED-BASED, INDUSTRY FOCUSED, AND ACADEMICALLY COMPETITIVE TO STUDENTS ATTENDING THE 14 UNIVERSITIES OF THE PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION. A TOTAL OF 500 SCHOLARSHIPS WERE GIVEN DURING THE 2020-21 FISCAL YEAR. EMPLOYERS FROM THE TOP "IN DEMAND" INDUSTRIES ARE KEY INVESTORS IN THE FOUNDATION'S SCHOLARSHIP PROGRAM. THESE SCHOLARSHIPS IMPROVED RETENTION AND GRADUATION RATES, WHICH INCORPORATE TIMELY PROGRESS TO GRADUATION. THE SYSTEM'S CURRENT FOUR-YEAR GRADUATION RATE OF UNDERGRADUATE STUDENTS IS 55%; THE SIX-YEAR GRADUATION RATE IS 75%. THE SYSTEM FAR SURPASSES ITS NATIONAL PEER INSTITUTIONS ON THESE MEASURES. THE PASSHE FOUNDATION'S SCHOLARSHIP PROGRAM AIMS TO REDUCE COST BURDEN ON STUDENTS BY BOTH REDUCING NUMBER OF YEARS TO GRADUATE AND IMPROVING GRADUATES' EARNING POTENTIAL. IT ALSO REDUCES GRADUATES' STUDENT LOAN DEBT BURDEN AND IMPROVES CONNECTIONS FOR INTERNSHIPS AND EMPLOYMENT.


THE FOUNDATION HELPS TO IDENTIFY AND ACQUIRE RESOURCES, THROUGH SPONSORSHIPS AND OTHER FUNDING STREAMS, FOR INSTITUTION SPECIFIC, SYSTEM- WIDE AND MULTI-UNIVERSITY COLLABORATIVE PROGRAMS. DURING THE 2020-21 YEAR: FUNDS WERE DISBURSED IN SUPPORT OF THE WOODROW WILSON FOUNDATION TEACHING FELLOWSHIP; CAREER COACH (SYSTEM-WIDE SOLUTION FOR TAKING STUDENTS SUCCESSFULLY FROM GRADUATION TO OCCUPATION); SBIRT VIA A GRANT FROM PCCD (ELECTRONIC AND IN-PERSON RESOURCE FOR EARLY INTERVENTION DRUG AND ALCOHOL COUNSELING FOR STUDENTS); STUDENT LEADERSHIP (PDE GRANT FOR CHEYNEY UNIVERSITY TO HOST A CONFERENCE FOR ALL STUDENTS IN THE STATE SYSTEM AND BEYOND PA); STUDENT BUSINESS PLAN COMPETITION; WASHINGTON CENTER INTERNSHIP PROGRAM; WORKFORCE DEVELOPMENT PROJECTS AND STUDENT AFFORDABILITY AND SUCCESS PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
Pritchard Cynthia
President &
$146,072
Miller Edelyn Lynn
Chair
$0
Steck Matthew J
Vice Chair
$0
Alexander Marion Carey
Secretary /
$0
D'angelo Gail M
Treasurer
$0
Kerr David S
Assistant Tr
$0

Financial Statements

Statement of Revenue
Federated campaigns$15,062
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $30,000
All other contributions, gifts, grants, and similar amounts not included above$1,226,005
Noncash contributions included in lines 1a–1f $10,000
Total Revenue from Contributions, Gifts, Grants & Similar$1,271,067
Total Program Service Revenue$254,472
Investment income $98,099
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$770
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,622,868

Grants Awarded

Over the last fiscal year, Pennsylvanias State System Of Higher Education Foundation has awarded $153,199 in support to 2 organizations.

Grant RecipientAmount

WOODROW WILSON FTF

Org PageRecipient Profile

Princeton, NJ

PURPOSE: SCHOLARSHIPS

$130,000

MILLERSVILLE UNIVERSITY

Org PageRecipient Profile

Millersville, PA

PURPOSE: BOG ER AID FUND

$23,199
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Pennsylvanias State System Of Higher Education Foundation has recieved totaling $411,500.

Awarding OrganizationAmount
The David S And Karen A Shapira Foundation

Pittsburgh, PA

PURPOSE: CHARITABLE

$391,500
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$20,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,396,643
Earnings$70,523
Net Contributions$10
Grants$18,263
Ending Balance$1,448,913

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