Philadelphia College Of Osteopathic Medicine Foundation
- Assets
- $419.6m
- Revenue
- $20.3m
- Investments
- $372.6m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 09/1986
- Data as of
- 06/2020
- EIN
- 22-2691757
Organization Overview
Philadelphia College Of Osteopathic Medicine Foundation is located in Philadelphia, PA. The organization was established in 1986. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia College Of Osteopathic Medicine 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 06/2020, Philadelphia College Of Osteopathic Medicine Foundation generated $20.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $10.1m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
CONDUCTS FUNDRAISING IN SUPPORT OF PCOM, AS WELL AS, PROVIDES MANAGEMENT OF PCOM ENDOWMENT FUNDS. THESE FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, AWARDS, AND FUNDS FOR OPERATING COSTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND AWARDS ARE AWARDED TO MEDICAL STUDENTS AND OTHER GRADUATE PROGRAM STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John P Kearney Chairman | OfficerTrustee | 1 | $0 |
Kenneth J Veit DO Provost, Senior VP For Academic Affairs And Dean | OfficerTrustee | 2 | $0 |
Thomas J Gravina Vice Chairman | OfficerTrustee | 1 | $0 |
Jay S Feldstein DO President & CEO | OfficerTrustee | 2 | $0 |
David Simon Chief Legal Affairs Officer | Officer | 2 | $0 |
Peter Doulis VP Finance/cfo | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,923,614 |
| Investment income | $5,414,315 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,954,800 |
| Net Income from Fundraising Events | -$35,129 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,326,102 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $5,808,696 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $425,885 |
| Fees for services: Other | $2,280,970 |
| Advertising and promotion | $0 |
| Office expenses | $606 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,917 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $10,067,403 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,766,360 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $984,095 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $42,184,445 |
| Investments—other securities | $372,624,619 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $419,559,519 |
| Accounts payable and accrued expenses | $298,397 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $863,594 |
| Total liabilities | $1,161,991 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $418,397,528 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Philadelphia College Of Osteopathic Medicine Foundation has recieved totaling $246,718.
| Awarding Organization | Amount |
|---|---|
Jewish Federation Of Greater Atlanta Inc Atlanta, GA PURPOSE: DONATIONS | $226,218 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $5,500 |
Endowment Analysis
| Beg. Balance | $419,241,320 |
| Earnings | $131,966,694 |
| Admin Expense | $2,461,443 |
| Net Contributions | $27,516,815 |
| Other Expense | $1,764,393 |
| Grants | $6,057,300 |
| Ending Balance | $568,441,693 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Forrestal Agricultural Corporation Princeton, NJ | $368,119,233 | $43,096,782 |
University Of Maryland Foundation Inc Adelphi, MD | $2,110,990,979 | $62,167,598 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Maryland Baltimore Foundation Inc Baltimore, MD | $437,980,331 | $59,974,746 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Foundation Of The State University Of New York At Binghamton Inc Binghamton, NY | $286,478,699 | $29,318,635 |
New York University School Of Law Foundation New York, NY | $145,376,406 | $16,902,006 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |