Partnership For Ed Advancement Inc
- Assets
- $32.3m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 38
- Location
- New York, NY
- Founding
- 06/2019
- Data as of
- 12/2023
- 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 12/2023, Partnership For Ed Advancement Inc employed 38 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 12/2023, Partnership For Ed Advancement Inc generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 71.5% each year . All expenses for the organization totaled $20.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Partnership For Ed Advancement Inc has awarded 52 individual grants totaling $17,610,354. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
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
HBCU TRANSFORMATION DEEP SUPPORT FOR SCHOOLS WITHIN THE HBCU NETWORK TO IMPROVE ENROLLMENT,RETENTION, AND GRADUATION RATES.
HBCU DXPILOT INITIATIVE TO PROVIDE TECHNOLOGY-ENABLED SOLUTION TO IMPROVE DELIVERY OF ADVISING SUPPORT TO STUDENTS ATTENDING COLLEGE.
ACADEMIC NAVIGATION PLOTPILOT INITIATIVE TO PROVIDE TECHNOLOGY-ENABLED SOLUTION TO IMPROVE COURSE AND CREDIT NAVIGATION TO OPTIMIZE TIME TO DEGREE FOR STUDENTS AT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hamilton James Chairman | OfficerTrustee | 2 | $0 |
James Runcie Chief Executive Officer | OfficerTrustee | 40 | $266,062 |
Garrett Moran Director | Trustee | 1 | $0 |
Verdun Perry Director | Trustee | 1 | $0 |
Beryl Mcewen Director | Trustee | 1 | $0 |
Arne Duncan Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Whiteboard Advisors Llc Education Consulting | 12/30/23 | $205,645 |
Ruffalo Noel Levitz Education Consulting | 12/30/23 | $3,089,922 |
Mainstay Education Technology Consulting | 12/30/23 | $310,206 |
Paritii Llc Education Consulting | 12/30/23 | $219,675 |
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 | $11,338,922 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,338,922 |
| Total Program Service Revenue | $0 |
| Investment income | $119,154 |
| 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 | $11,458,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,093,646 |
| 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. | $768,743 |
| Compensation of current officers, directors, key employees. | $256,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,834,742 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $310,877 |
| Payroll taxes | $353,527 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,670 |
| Fees for services: Accounting | $77,087 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,360 |
| Fees for services: Other | $9,112,343 |
| Advertising and promotion | $19,061 |
| Office expenses | $39,749 |
| Information technology | $155,965 |
| Royalties | $0 |
| Occupancy | $87,852 |
| Travel | $284,649 |
| 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 | $7,801 |
| Insurance | $3,607 |
| All other expenses | $857 |
| Total functional expenses | $20,222,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,615,122 |
| Savings and temporary cash investments | $4,422,252 |
| Pledges and grants receivable | $387,320 |
| 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 | $553,360 |
| Net Land, buildings, and equipment | $13,921 |
| Investments—publicly traded securities | $25,097,124 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $183,441 |
| Total assets | $32,272,540 |
| Accounts payable and accrued expenses | $1,021,254 |
| Grants payable | $1,226,024 |
| 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 | $187,514 |
| Total liabilities | $2,434,792 |
| Net assets without donor restrictions | $15,479,422 |
| Net assets with donor restrictions | $14,358,326 |
| 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 | $32,272,540 |
Grants Awarded
Over the last fiscal year, Partnership For Ed Advancement Inc has awarded $5,093,646 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
FLORIDA A&M UNIVERSITY PURPOSE: CAPACITY BUILDING TO IMPROVE STUDENT OUTCOMES | $279,892 |
ALABAMA STATE UNIVERSITY PURPOSE: CAPACITY BUILDING TO IMPROVE STUDENT OUTCOMES | $239,375 |
NORFOLK STATE UNIVERSITY PURPOSE: CAPACITY BUILDING TO IMPROVE STUDENT OUTCOMES | $138,634 |
HAMPTON UNIVERSITY PURPOSE: CAPACITY BUILDING TO IMPROVE STUDENT OUTCOMES | $41,666 |
BENEDICT COLLEGE PURPOSE: CAPACITY BUILDING TO IMPROVE STUDENT OUTCOMES | $43,500 |
CLAFLIN UNIVERSITY PURPOSE: CAPACITY BUILDING TO IMPROVE STUDENT OUTCOMES | $87,000 |