Business Leadership Organized For Catholic Schools
- Assets
- $82.5m
- Revenue
- $55.6m
- Investments
- $0.0
- Employees
- 9
- Location
- King Of Prussia, PA
- Founding
- 07/2009
- Data as of
- 06/2021
- EIN
- 23-2125843
Organization Overview
Business Leadership Organized For Catholic Schools, operating under the name Blocs, is located in King Of Prussia, PA. The organization was established in 2009. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Blocs employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blocs 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 06/2021, Blocs generated $55.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.9% each year . All expenses for the organization totaled $54.8m during the year ending 06/2021. While expenses have increased by 21.9% per year over the past 6 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.
Since 2014, Blocs has awarded 1,904 individual grants totaling $250,859,961. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BLOCS BRIDGES THE BUSINESS COMMUNITY AND INDIVIDUALS WITH SCHOOLS IN PENNSYLVANIA TO ESTABLISH FINANCIAL ASSISTANCE TO FAMILIES IN NEED, BOLSTER SCHOOL INFRASTRUCTURES, AND EXPAND EDUCATIONAL OPPORTUNITIES FOR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PENNSYLVANIA BUSINESSES AND INDIVIDUAL TAXPAYERS HAVE PARTICIPATED IN THE EITC, OSTC AND PRE-K TAX CREDIT PROGRAMS OFFERED BY THE STATE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT (DCED). THE SIGNIFICANT CONTRIBUTIONS AND PARTICIPATION PROVIDED BY THESE BUSINESSES AND INDIVIDUALS ALLOWED BLOCS TO AWARD OVER 16,000 CATHOLIC AND PRIVATE SCHOOL SCHOLARSHIPS TO NUMEROUS COUNTIES IN PENNSYLVANIA FOR FAMILIES IN FINANCIAL NEED.FOR THIS YEAR, BLOCS HAS WORKED WITH CLOSE TO 200 BUSINESSES AND OVER 1,000 INDIVIDUAL TAXPAYERS TO TAKE ADVANTAGE OF OVER $51 MILLION IN TAX CREDITS. HOWEVER, THE NEED FOR ADDITIONAL FINANCIAL ASSISTANCE REMAINS SIGNIFICANT AS BLOCS RECEIVED OVER 30,000 APPLICATIONS AND OVER $75 MILLION DOLLARS IN QUALIFIED NEED.BLOCS THROUGH THE SCHOLARSHIP COMMITTEE HAS ESTABLISHED AN EMERGENCY SCHOLARSHIP PROGRAM WHICH REVIEWS EMERGENCY REQUESTS FOR FINANCIAL ASSISTANCE FOR FAMILIES BASED ON EXTENUATING CIRCUMSTANCES THAT GREATLY AFFECT A FAMILY'S INCOME AND ABILITY TO PAY FOR EDUCATION. FOR THE CURRENT YEAR, BLOCS PROVIDED SUPPORT OF APPROXIMATELY $1.3 MILLION FOR APPROXIMATELY 1,000 STUDENTS. BLOCS HAS ALSO DEVELOPED THE URBAN ENDOWMENT INITIATIVE TO SUSTAIN TARGETED SCHOOLS IN POOR AND LOW PERFORMING SCHOOL DISTRICT AREAS. UNDER THIS INITIATIVE, NINE SCHOOLS WORK WITH BLOCS TO ADOPT SUCCESSFUL PRACTICES IN MARKETING AND MANAGEMENT. THE SCHOOLS MAINTAIN AN OPEN ENROLLMENT POLICY AND BLOCS ASSISTS THE SCHOOLS TO HELP MEET OPERATIONAL NEEDS THROUGH ENDOWMENT DISTRIBUTIONS. FOR THE CURRENT YEAR THIS SUPPORT TOTALED APPROXIMATELY $1 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Rowan Chief Executive Officer | Officer | 40 | $384,760 |
Theodore Aicher Chief Financial Officer | Officer | 40 | $241,658 |
Jeffrey Gibson Business Development Manager | 40 | $144,620 | |
James Downey Business Development Manager | 40 | $134,038 | |
Katie Rose Thornton Director Of Marketing | 40 | $102,873 | |
Matt Mcfillin Co-Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $156,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,683,811 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,840,611 |
| Total Program Service Revenue | $0 |
| Investment income | $1,456,873 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,347,433 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,644,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $52,744,605 |
| 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. | $577,967 |
| Compensation of current officers, directors, key employees. | $192,656 |
| Compensation to disqualified persons | $592,431 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $45,224 |
| Other employee benefits | $113,649 |
| Payroll taxes | $70,471 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,642 |
| Fees for services: Accounting | $54,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,781 |
| Fees for services: Investment Management | $38,883 |
| Fees for services: Other | $0 |
| Advertising and promotion | $290,864 |
| Office expenses | $67,072 |
| Information technology | $25,801 |
| Royalties | $0 |
| Occupancy | $34,860 |
| Travel | $2,542 |
| 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 | $2,286 |
| Insurance | $42,183 |
| All other expenses | $24,827 |
| Total functional expenses | $54,750,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,634,033 |
| Savings and temporary cash investments | $33,171,958 |
| Pledges and grants receivable | $0 |
| 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 | $42,450 |
| Net Land, buildings, and equipment | $2,551 |
| Investments—publicly traded securities | $39,367,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,325,662 |
| Total assets | $82,544,630 |
| Accounts payable and accrued expenses | $105,833 |
| Grants payable | $823,968 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,202,515 |
| 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 | $4,482,462 |
| Total liabilities | $10,614,778 |
| Net assets without donor restrictions | $3,795,681 |
| Net assets with donor restrictions | $68,134,171 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $82,544,630 |
Grants Awarded
Over the last fiscal year, Business Leadership Organized For Catholic Schools has awarded $52,642,414 in support to 261 organizations.
| Grant Recipient | Amount |
|---|---|
Philadelphia, PA PURPOSE: SCHOLARSHIPS | $4,169,595 |
Philadelphia, PA PURPOSE: SCHOLARSHIPS | $1,875,560 |
Philadelphia, PA PURPOSE: SCHOLARSHIPS | $1,564,337 |
Philadelphia, PA PURPOSE: SCHOLARSHIPS | $1,410,927 |
Philadelphia, PA PURPOSE: SCHOLARSHIPS | $1,390,300 |
Bryn Mawr, PA PURPOSE: SCHOLARSHIPS | $1,153,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Business Leadership Organized For Catholic Schools has recieved totaling $134,338.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $115,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,190 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $148 |
Endowment Analysis
| Beg. Balance | $17,362,127 |
| Earnings | $5,239,671 |
| Net Contributions | $106,201 |
| Grants | $823,968 |
| Ending Balance | $21,884,031 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Annenberg Foundation Conshohocken, PA | $1,804,363,680 | $109,022,988 |
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |