Philips Education Partners
- Assets
- $19.3m
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 06/1989
- Data as of
- 06/2020
- EIN
- 22-2894088
Organization Overview
Philips Education Partners is located in Newark, NJ. The organization was established in 1989. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, 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. Philips Education Partners is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHED SCH. O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT THE EDUCATION OF URBAN YOUTH AND TO PROVIDE RESOURCES TO INSTITUTIONS DEDICATED TO HELPING URBAN YOUTH TO DEVELOP THE INTELLECTUAL COMPETENCE AND VALUES NECESSARY TO LIVE PRODUCTIVE LIVES FILLED WITH OPTIONS AND CHOICE.
SUPPORT THE EDUCATION OF URBAN YOUTH AND TO PROVIDE RESOURCES TO INSTITUTIONS DEDICATED TO HELPING URBAN YOUTH TO DEVELOP THE INTELLECTUAL COMPETENCE AND VALUES NECESSARY TO LIVE PRODUCTIVE LIVES FILLED WITH OPTIONS AND CHOICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel Brito Ceo, Trustee | OfficerTrustee | 50 | $0 |
Bishop Mark M Beckwith Trustee | Trustee | 1 | $0 |
Ferdinand Masucci Trustee | Trustee | 2 | $0 |
Kathleen Mclean Finance Committee Co-Chair | Trustee | 2 | $0 |
Sally Walsh Development Chair | Trustee | 2 | $0 |
Frank Mentesana Director, Ecospaces | Trustee | 50 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $0 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $918,489 |
| Savings and temporary cash investments | $69,216 |
| Pledges and grants receivable | $236,981 |
| Accounts receivable, net | $75,042 |
| 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 | $93,043 |
| Investments—publicly traded securities | $1,984,399 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $83,989 |
| Total assets | $19,313,545 |
| Accounts payable and accrued expenses | $171,790 |
| 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 | $15,351 |
| Total liabilities | $187,141 |
| 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 | $19,126,404 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Philips Education Partners has recieved totaling $60,405.
| Awarding Organization | Amount |
|---|---|
Victoria Foundation Inc Newark, NJ PURPOSE: TO SUPPORT THE PARTICIPATION OF NEWARK CHILDREN IN THE HORIZONS NEWARK SUMMER PROGRAM HOUSED AT PHILIPS ACADEMY | $35,000 |
Victoria Foundation Inc Newark, NJ PURPOSE: TO SUPPORT TECHNOLOGY NEEDS FOR HORIZONS NEWARK AND SOUTH WARD PROMISE NEIGHBORHOOD CHROMEBOOK DONATION | $15,400 |
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $1,984,399 |
| Ending Balance | $1,984,399 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maria L Varisco-Rogers Charter School Newark, NJ | $5,290,053 | $11,323,219 |
Caravel Academy Inc Bear, DE | $15,134,520 | $11,726,062 |
Mathematics Civic & Sciences Charter School Of Philadelphia Inc Philadelphia, PA | $10,694,323 | $13,238,093 |
American Cooperative School Of Tunis Acst Association Seaford, DE | $24,162,067 | $10,809,438 |
Yeshiva Tiferes Yisroel Brooklyn, NY | $12,406,666 | $10,084,609 |
Banyan School Inc Fairfield, NJ | $2,901,931 | $9,400,396 |
Metropolitan Montessori School New York, NY | $29,899,366 | $8,129,408 |
The Gesu School Inc Philadelphia, PA | $39,919,489 | $10,953,464 |
Universal Institute Charter School Philadelphia, PA | $3,423,551 | $10,521,421 |
University Urology Inc Buffalo, NY | $263,782 | $9,014,963 |
The New Life Child Development Center Inc Brooklyn, NY | $2,502,824 | $9,022,777 |
Universal Creighton Charter School Philadelphia, PA | $7,031,660 | $11,882,466 |