Pearl And Ivy Educational Foundation Inc
- Assets
- $1.2m
- Revenue
- $174.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 04/1988
- Data as of
- 12/2023
- EIN
- 53-0258477
Organization Overview
Pearl And Ivy Educational Foundation Inc is located in Washington, DC. The organization was established in 1988. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, 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. Pearl And Ivy Educational Foundation 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 12/2023, Pearl And Ivy Educational Foundation Inc generated $174.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $224.8k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SCHOLARSHIPS TO COLLEGE-BOUND HIGH SCHOOL SENIORS AND CONTINUING COLLEGE STUDENTS IN THE DISTRICT OF COLUMBIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEARL AND IVY EDUCATIONAL FOUNDATION (PIEF) IS COMPRISED OF COLLEGE-EDUCATED, PROFESSIONAL WOMEN - COMMUNITY VOLUNTEERS WHO ARE DEDICATED TO SERVING THE NEEDS OF DISTRICT RESIDENTS.PIEF SERVES AS A COMMUNITY PARTNER OF XI OMEGA CHAPTER, THE FIRST AND LARGEST GRADUATE CHAPTER OF ALPHA KAPPA ALPHA SORORITY, INC., ESTABLISHED IN WASHINGTON, DC. IN ADDITION TO ANNUALLY AWARDING SCHOLARSHIPS IN COLLABORATION WITH XI OMEGA, PIEF PROVIDES AN ARRAY OF SERVICE PROGRAMS THAT FOCUS ON FAMILY EMPOWERMENT, YOUTH LEADERSHIP, ECONOMIC WEALTH, ENVIRONMENTAL AND SOCIAL JUSTICE MATTERS THAT UPLIFT OUR LOCAL COMMUNITY. TO DATE, PIEF HAS AWARDED MORE THAN $1 MILLION IN SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raven L Hill President | OfficerTrustee | 20 | $0 |
Angela Scarborough Vice President | OfficerTrustee | 10 | $0 |
Jennifer M Coleman Treasurer | OfficerTrustee | 25 | $0 |
Y Gina Mclaughlin Financial Secretary | OfficerTrustee | 10 | $0 |
Anitra Reed Recording Secretary | OfficerTrustee | 10 | $0 |
Lavdena Adams Orr Member At Large | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $37,922 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,209 |
| Noncash contributions included in lines 1a–1f | $6,062 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $156,131 |
| Total Program Service Revenue | $0 |
| Investment income | $36,709 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$18,154 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,686 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $164,753 |
| 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 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 | $9,507 |
| 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 | $11,396 |
| Information technology | $3,930 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,030 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,314 |
| All other expenses | $10,887 |
| Total functional expenses | $224,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,271 |
| Savings and temporary cash investments | $127,824 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $987,236 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,183,331 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $656,109 |
| Net assets with donor restrictions | $527,222 |
| 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 | $1,183,331 |