Pittsburgh Promise Foundation
- Assets
- $59.6m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 84
- Location
- Pittsburgh, PA
- Founding
- 09/2008
- Data as of
- 06/2022
- EIN
- 26-1982661
Organization Overview
Pittsburgh Promise Foundation is located in Pittsburgh, PA. The organization was established in 2008. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Pittsburgh Promise Foundation employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh Promise 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, Pittsburgh Promise Foundation generated $15.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $11.5m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE PITTSBURGH FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PITTSBURGH PROMISE WAS LAUNCHED IN 2007 WITH A $100 MILLION COMMITMENT BY THE UNIVERSITY OF PITTSBURGH MEDICAL CENTER (UPMC). UPMC'S COMMITMENT INCLUDED AN INITIAL $10 MILLION CONTRIBUTION AND THE REMAINING $90 MILLION WAS A CHALLENGE GRANT INTENDED TO SPUR A COMMUNITY-WIDE CAMPAIGN TO RAISE AN ADDITIONAL $150 MILLION FROM OTHER PRIVATE SOURCES, INCLUDING FOUNDATIONS, CORPORATIONS, AND INDIVIDUALS.OUR VISION: WE ENVISION A FUTURE WHERE ALL OUR URBAN YOUTH ARE EQUIPPED TO REACH POST-SECONDARY SUCCESS, OUR PUBLIC SCHOOLS SERVE ALL CHILDREN EXCELLENTLY, OUR CITY IS FLOURISHING IN ALL ITS NEIGHBORHOODS, AND OUR WORKFORCE IS WIDELY DIVERSE AND HIGHLY SKILLED TO ADVANCE A REGION THAT IS GOOD AND JUST FOR ALL.OUR GUIDING PRINCIPLES:-EQUITY AND INCLUSION: WE ARE COMMITTED TO EDUCATIONAL, ECONOMINC, RACIAL, SOCIAL, AND CULTURAL EQUITY AD INCLUSION.-EXCELLENCE: WE CONDUCT OUR WORK WITH URGENCY, STEWARD OUR RESOURCES PRUDENTLY, AND APPLY THE HIGHEST STANDARDS OF PROFESSIONALISM.-INTEGRITY: WE DEMONSTRATE ACCOUNTABILITY TO OUR STUDENTS, FAMILIES, AND COMMUNITY PARTNERS BY PERFORMING OUR WORK WITH TRANSPARENCY, DISCIPLINE, AND COMPASSION.-IMPACT: WE REGULARLY EVALUATE OUR IMPACT AND USE DATA AND RESEARCH TO GUIDE OUR DECISION-MAKING.-COMMITMENT: WE ARE DRIVEN BY A PASSION FOR OUR VISION AND MISSION AND A BELIEF THAT OUR WORK STRENGTHENS THE REGION, INSPIRES SYSTEMIC CHANGE, AND TRANSFORMS LIVES.THE PITTSBURGH PROMISE CONDUCTS OUTREACH IN ALL PITTSBURGH PUBLIC HIGH SCHOOLS AND ITS CHARTERS IN AN EFFORT TO CULTIVATE RELATIONSHIPS AND PROMOTE ACHIEVEMENT.AS OF JUNE 2022, THE PITTSBURGH PROMISE'S RESULTS INCLUDE THE FOLLOWING: -MORE THAN 10,698 STUDENTS RECEIVED $162 MILLION IN PROMISE SCHOLARSHIPS;-THEY ATTENDED 142 POST-SECONDARY INSTITUTIONS ACROSS PENNSYLVANIA;-MORE THAN 3,930 STUDENTS HAVE GRADUATED WITH A POST-SECONDARY DEGREE OR CERTIFICATION-PROMISE ALUMNI ARE WORKING AND CONTRIBUTING TO MORE THAN 650 ORGANIZATIONS IN OUR REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Saleem Ghubril Executive Director | Officer | 55 | $235,794 |
Shelley Scherer Associate Executive Director | 40 | $123,021 | |
Marsha Kolbe Director Of Development | 40 | $110,273 | |
Franco Harris Chair | OfficerTrustee | 1 | $0 |
Kiya Tomlin Treasurer | OfficerTrustee | 1 | $0 |
Anne Lewis Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pnc Bank Investment Fees | 6/29/16 | $151,112 |
Broudy Printing Printing | 6/29/16 | $115,378 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $74,265 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,152,300 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,623,377 |
| Noncash contributions included in lines 1a–1f | $1,021,039 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,849,942 |
| Total Program Service Revenue | $0 |
| Investment income | $924,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,680 |
| Net Gain/Loss on Asset Sales | $2,297,231 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,082,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,962,492 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $279,134 |
| Compensation of current officers, directors, key employees. | $83,740 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,470,919 |
| Pension plan accruals and contributions | $116,821 |
| Other employee benefits | $222,292 |
| Payroll taxes | $126,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,050 |
| Fees for services: Accounting | $24,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $95,560 |
| Fees for services: Investment Management | $147,051 |
| Fees for services: Other | $174,476 |
| Advertising and promotion | $70,763 |
| Office expenses | $386,291 |
| Information technology | $4,158 |
| Royalties | $0 |
| Occupancy | $68,488 |
| Travel | $3,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $111,704 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,055 |
| Insurance | $20,249 |
| All other expenses | $0 |
| Total functional expenses | $11,513,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,864,210 |
| Savings and temporary cash investments | $6,391,486 |
| Pledges and grants receivable | $8,209,254 |
| Accounts receivable, net | $58,115 |
| 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 | $26,892 |
| Net Land, buildings, and equipment | $344,527 |
| Investments—publicly traded securities | $42,690,627 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $59,585,111 |
| Accounts payable and accrued expenses | $68,286 |
| Grants payable | $179,000 |
| Deferred revenue | $360,834 |
| 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 | $95,136 |
| Total liabilities | $703,256 |
| Net assets without donor restrictions | $49,073,460 |
| Net assets with donor restrictions | $9,808,395 |
| 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 | $59,585,111 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Pittsburgh Promise Foundation has recieved totaling $1,226,640.
| Awarding Organization | Amount |
|---|---|
Pittsburgh Foundation Pittsburgh, PA PURPOSE: EDUCATION | $966,050 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $90,000 |
The United Way Of Southwestern Pennsylvania Pittsburgh, PA PURPOSE: DONOR DESIGNATION PR | $74,265 |
Highmark Health Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $50,000 |
Americas Promise-The Alliance For Youth Washington, DC PURPOSE: YES PROJECT ACTION ROUNDTABLE GRANT | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $9,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnson Charitable Gift Fund Cincinnati, OH | $240,192,248 | $106,272,377 |
Young Mens Christian Association Of Greater Cincinnati Cincinnati, OH | $89,901,831 | $29,563,808 |
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Independent Charitable Gift Fund Hudson, OH | $203,452,465 | $150,370,213 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Homefree Usa Inc Landover, MD | $5,280,798 | $17,895,333 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |