Partnership For Ed Advancement Inc
- Assets
- $36.2m
- Revenue
- $41.2m
- Investments
- $0.0
- Employees
- 14
- Location
- New York, NY
- Founding
- 06/2019
- Data as of
- 12/2021
- EIN
- 83-1400442
Organization Overview
Partnership For Ed Advancement Inc is located in New York, NY. The organization was established in 2019. 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 12/2021, Partnership For Ed Advancement Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership For Ed Advancement 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 12/2021, Partnership For Ed Advancement Inc generated $41.2m in total revenue. All expenses for the organization totaled $14.4m during the year ending 12/2021. While expenses have increased by 194.9% per year over the past 4 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
THE PARTNERSHIP FOR EDUCATION ADVANCEMENT IS A 501(C)(3) NOT-FOR-PROFIT ORGANIZATION COMMITTED TO SUPPORTING SOCIAL MOBILITY THROUGH STRENGTHENING OF MISSION-FOCUSED COLLEGES AND UNIVERSITIES THAT PRIMARILY SERVE LOW-INCOME, FIRST-GENERATION, AND UNDER-RESOURCED STUDENTS AND FAMILIES. WE ARE DEDICATED TO THE FOLLOWING PRINCIPLES AS WE CARRY OUT OUR MISSION:- OUR RESOURCES AND INVESTMENTS ALIGN WITH STUDENTS' FUTURE SUCCESS IN EVIDENT AND MEASURABLE WAYS.- WE MUST ACKNOWLEDGE AND UPHOLD THE CAPACITY OF MINORITY SERVING INSTITUTIONS, INCLUDING HBCUS, TO LEAD EQUITY EFFORTS.- TRANSFORMATION REQUIRES SOLUTIONS THAT ARE SUSTAINABLE, SCALABLE, AND BROADLY ADOPTABLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPLEMENTED PROJECT-BASED SOLUTIONS AND SERVICES FOR HISTORICALLY BLACK COLLEGES AND UNIVERSITIES(HBCUS) TO SUPPORT THEIR EFFORTS IN IMPROVING TECHNOLOGY AND OPERATIONS FOR ENROLLMENT, GRADUATION, AND ADVANCEMENT GOALS. PARTNERED CLOSELY WITH THURGOOD MARSHALL COLLEGE FUND (TMCF) AND THE UNITED NEGRO COLLEGE FUND (UNCF) AND MISSION-FOCUSED SCHOOLS FOR THE HBCU TRANSFORMATION PROJECT TO DEVELOP STRATEGIES, REFER AND CUSTOMIZE SOLUTIONS TO STRENGTHEN AND TRANSFORM SCHOOL OPERATIONS AND INFRASTRUCTURE. (CONTINUED ON SCHEDULE O) DEVELOPED AN ENROLLMENT TECHNOLOGY SYSTEM SOLUTION FOR ADOPTION BY PARTNER SCHOOLS TO INCREASE EFFICIENCY AND DATA INTEGRITY IN ENROLLMENT PROCESSES. DEVELOPED PROGRAMMING AND A KNOWLEDGE-SHARING COMMUNITY PORTAL TO SHARE INFORMATION AND LEARNINGS WITH COLLEGES AND UNIVERSITIES. PARTNERED WITH MISSION-ALIGNED SERVICE PROVIDERS TO ADVANCE THE EFFORTS AND GOALS OF PARTNER COLLEGES AND UNIVERSITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Runcie Chief Executive Officer | OfficerTrustee | 40 | $267,495 |
William Leith Managing Director | Officer | 40 | $261,667 |
Wayne Cummings SVP Chief Technology Officer | 40 | $205,529 | |
Anne Reznik Chief Of Staff | 40 | $173,625 | |
Zina Evans SVP Enrollment Management | 40 | $165,461 | |
Robin Minor SVP Institutional Partnerships | 40 | $133,096 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,197,369 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,197,369 |
| Total Program Service Revenue | $0 |
| Investment income | $1,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,198,488 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,785,000 |
| 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. | $552,350 |
| Compensation of current officers, directors, key employees. | $82,908 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,169,133 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,018 |
| Payroll taxes | $107,969 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,300 |
| Fees for services: Accounting | $31,877 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,510,938 |
| Advertising and promotion | $2,950 |
| Office expenses | $62,009 |
| Information technology | $75,087 |
| Royalties | $0 |
| Occupancy | $1,944 |
| Travel | $26,477 |
| 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 | $1,377 |
| Insurance | $780 |
| All other expenses | $0 |
| Total functional expenses | $14,431,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,017,543 |
| Savings and temporary cash investments | $31,252,799 |
| Pledges and grants receivable | $792,594 |
| Accounts receivable, net | $1,008 |
| 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 | $123,291 |
| Net Land, buildings, and equipment | $7,317 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,194,552 |
| Accounts payable and accrued expenses | $980,850 |
| Grants payable | $370,000 |
| 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 | $1,350,850 |
| Net assets without donor restrictions | -$256,651 |
| Net assets with donor restrictions | $35,100,353 |
| 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 | $36,194,552 |
Grants Awarded
Over the last fiscal year, Partnership For Ed Advancement Inc has awarded $3,785,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: COVID-19 RECOVERY GRANT | $3,350,000 |
Hampton, VA PURPOSE: CAPACITY BUILDING | $240,000 |
Tallahassee, FL PURPOSE: CAPACITY BUILDING | $120,000 |
Montgomery, AL PURPOSE: COURSE FACILITATION | $25,000 |
Winstonsalem, NC PURPOSE: COURSE FACILITATION | $25,000 |
NORFOLK STATE UNIVERSITY PURPOSE: COURSE FACILITATION | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Partnership For Ed Advancement Inc has recieved totaling $1,309,775.
| Awarding Organization | Amount |
|---|---|
Capital One Foundation Inc Mclean, VA PURPOSE: IMPROVING ADMISSIONS AND RETENTION RATES IN HBCUS THROUGH BEHAVIORALLY INTELLIGENT STUDENT ENGAGEMENT PLATFORM MESSAGING | $650,000 |
Ascendium Education Solutions Inc Madison, WI PURPOSE: Academic Planning Tool Pilot | $584,775 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
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 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
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 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |