Steppingstone Scholars Inc
- Assets
- $8.0m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 159
- Location
- Philadelphia, PA
- Founding
- 04/2010
- Data as of
- 08/2021
- EIN
- 42-1612131
Organization Overview
Steppingstone Scholars Inc is located in Philadelphia, PA. The organization was established in 2010. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 08/2021, Steppingstone Scholars Inc employed 159 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steppingstone Scholars Inc 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 08/2021, Steppingstone Scholars Inc generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $4.1m during the year ending 08/2021. While expenses have increased by 20.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
STEPPINGSTONE SCHOLARS IS AN EDUCATIONAL SOCIAL MOBILITY ORGANIZATION. FOR LOW INCOME STUDENTS IN THE CITY OF PHILADELPHIA, THERE ARE OFTEN NO CLEAR PATHWAYS TO COLLEGE OR THE WORKFORCE. SINCE 1999, STEPPINGSTONE HAS BEEN WORKING TO ADDRESS THIS SYSTEMIC PROBLEM BY CREATING NOT JUST ONE PATHWAY, BUT MANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH STRATEGIC PARTNERSHIPS AND HIGH-IMPACT RESOURCING, STEPPINGSTONE OFFERS EDUCATIONALLY UNDERSERVED STUDENTS LONG-TERM, INTENSE ACADEMIC AND ENRICHMENT SUPPORT, WHICH IS UNMATCHED IN PHILADELPHIA. STEPPINGSTONE PRODUCES ENGAGED CITIZENS READY TO ENTER A DYNAMIC WORKFORCE THROUGH ROBUST COLLEGE AND CAREER PREP SUPPORT SERVICES. IN 2020-2021, WE SERVED APPROXIMATELY 2,500 STUDENTS THROUGH OUR ACADEMY, PATHWAYS AND VENTURES PROGRAMMING. OUR SUCCESSES INCLUDE: 436 HIGH SCHOOL STUDENTS TAKING COLLEGE-LEVEL COURSES FOR CREDIT; 1,329 TOTAL CREDITS EARNED; 76 FULL-TIME JOBS CREATED THROUGH WORKFORCE SERVICES AND 66 STUDENTS PARTICIPATING IN INTERNSHIP OPPORTUNITIES WITH CORPORATE PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Vereen President | OfficerTrustee | 40 | $218,259 |
Christopher Avery Vice President Of Programs | 40 | $128,167 | |
Gary A Deutsch Treasurer | OfficerTrustee | 2 | $0 |
Julia A Conover Past Chair | OfficerTrustee | 2 | $0 |
Matthew Hand Secretary | OfficerTrustee | 2 | $0 |
Deborah Jr Hirtle Board Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,551 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $299,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,247,180 |
| Noncash contributions included in lines 1a–1f | $50,573 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,548,631 |
| Total Program Service Revenue | $1,162,893 |
| Investment income | $125,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $175,470 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,012,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $242,959 |
| Compensation of current officers, directors, key employees. | $72,888 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,364,732 |
| Pension plan accruals and contributions | $63,070 |
| Other employee benefits | $136,253 |
| Payroll taxes | $228,816 |
| Fees for services: Management | $44,695 |
| 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 | $39,424 |
| Fees for services: Other | $194,094 |
| Advertising and promotion | $0 |
| Office expenses | $137,953 |
| Information technology | $53,112 |
| Royalties | $0 |
| Occupancy | $54,059 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,630 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,430 |
| All other expenses | $9,494 |
| Total functional expenses | $4,083,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $352,050 |
| Savings and temporary cash investments | $980,664 |
| Pledges and grants receivable | $1,363,799 |
| Accounts receivable, net | $694,606 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,577,440 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,272 |
| Total assets | $8,018,831 |
| Accounts payable and accrued expenses | $158,169 |
| 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 | $0 |
| Total liabilities | $158,169 |
| Net assets without donor restrictions | $2,394,255 |
| Net assets with donor restrictions | $5,466,407 |
| 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 | $8,018,831 |
Grants Recieved
Over the last fiscal year, we have identified 30 grants that Steppingstone Scholars Inc has recieved totaling $1,543,433.
| Awarding Organization | Amount |
|---|---|
Chappell Culpeper Family Foundation Newtown Square, PA PURPOSE: GENERAL OPERATING SUPPORT | $317,500 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $200,000 |
Philadelphia Foundation Philadelphia, PA PURPOSE: STEPITUP! | $192,400 |
William Penn Foundation Philadelphia, PA PURPOSE: HIGH SCHOOL SUMMER MATH/STEM ENRICHMENT | $150,000 |
Elevate 215 Philadelphia, PA PURPOSE: College and Workforce Equity Partnership | $114,500 |
Jack Kent Cooke Foundation Lansdowne, VA PURPOSE: SUPPORT STEPPINGSTONE'S HONORS EDGE- AN ACADEMIC ENRICHMENT PROGRAM. | $100,000 |
Endowment Analysis
| Beg. Balance | $4,181,976 |
| Earnings | $635,802 |
| Admin Expense | $250 |
| Net Contributions | $21,436 |
| Ending Balance | $4,838,964 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Executive Education Academy Charter School Allentown, PA | $63,584,076 | $23,169,797 |
Foundation Academy Charter School Trenton, NJ | $16,120,573 | $21,345,321 |
Albany Academy Albany, NY | $58,726,077 | $27,181,105 |
Tatnall School Inc Wilmington, DE | $48,687,568 | $19,526,911 |
Elisabeth Morrow School Englewood, NJ | $43,835,854 | $20,290,882 |
Yeshiva Ktana Of Passaic Passaic, NJ | $33,764,196 | $20,538,079 |
Franklintown Charter High School Philadelphia, PA | $47,616,708 | $24,090,071 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Yeshivat Heatid Inc Teaneck, NJ | $17,160,980 | $19,921,065 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Peck School Morristown, NJ | $71,516,691 | $18,101,005 |