Edward W Powers And Alice R Powers Higher Educational Fund
- Assets
- $7.5m
- Revenue
- $485.6k
- Investments
- $7.3m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 10/1989
- Data as of
- 01/2024
- EIN
- 34-6900472
Organization Overview
Edward W Powers And Alice R Powers Higher Educational Fund is located in Pittsburgh, PA. The organization was established in 1989. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Edward W Powers And Alice R Powers Higher Educational Fund 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 01/2024, Edward W Powers And Alice R Powers Higher Educational Fund generated $485.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $431.3k during the year ending 01/2024. While expenses have increased by 11.9% 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.
Since 2017, Edward W Powers And Alice R Powers Higher Educational Fund has awarded 53 individual grants totaling $2,559,016. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian J Wolf Trustee | 1 | $4,000 | |
Joseph Meranto Trustee | 1 | $4,000 | |
Pnc Bank Na Trustee | 11 | $69,321 | |
Brian J Wolf Trustee | 1 | $4,000 | |
Joseph Meranto Trustee | 1 | $4,000 | |
Pnc Bank Na Trustee | 11 | $69,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $201,597 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $276,964 |
| Capital Gain Net Income | $276,964 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,043 |
| Total Revenue | $485,604 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $71,580 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,590 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,290 |
| Total operating and administrative expenses | $92,336 |
| Contributions, gifts, grants paid | $338,961 |
| Total expenses and disbursements | $431,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$4,289 |
| Savings and temporary cash investments | $198,154 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,606,961 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,476,022 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Edward W Powers And Alice R Powers Higher Educational Fund has awarded $338,961 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
THE COLLEGE OF WOOSTER PURPOSE: SCHOLARSHIPS | $48,423 |
THIEL COLLEGE PURPOSE: SCHOLARSHIPS | $48,423 |
UNIVERSITY OF MOUNT UNION PURPOSE: SCHOLARSHIPS | $48,423 |
LAKE ERIE COLLEGE PURPOSE: SCHOLARSHIPS | $48,423 |
WESTMINSTER COLLEGE PURPOSE: SCHOLARSHIPS | $48,423 |
YSU FOUNDATION PURPOSE: SCHOLARSHIPS | $48,423 |