Business Leadership Organized For

“Blocs is holding and investing funds on behalf of one of the schools under urban endowment initiative, which has the right to the corpus of the endowment fund originally contributed by donors and related investment earnings, net of distributions. In addition, blocs is holding and investing funds on behalf of the three schools who are direct recipients and beneficiaries of a portion of the endowment contributions. Blocs has recorded $5,155,108 and $4,800,972 as investments under agreement with urban endowment schools and liability under agreement with urban endowment schools as of june 30, 2025 and 2024, respectively. The liability includes $3,993,789 of contributions and $1,161,319 and $807,183 of cumulative allocated investment income, net of distributions, as of june 30, 2025 and 2024, respectively. For the year ended june 30, 2025, the liability increased from net investment income of $579,494 and decreased from payments to the schools of $225,358. For the year ended june 30, 2024, the liability increased from net investment income of $571,130 and decreased from payments to the schools of $217,244. These transactions have been accounted for as pass-through transactions and, therefore, are not reflected in the accompanying statements of activities.”

“Distribution of 5% of net assets to philadelphia catholic schools under the blocs urban initiative endowment program and to surrounding county schools under the bright futures program.”

“Blocs is a nonprofit organization that is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, blocs qualifies for charitable contribution deductions and has been classified as an organization that is not a private foundation. Income, which is not related to exempt purposes, less applicable deductions, is subject to federal and state corporate income taxes. Blocs had no net unrelated business income for the years ended june 30, 2025 and 2024. Management evaluated blocs' tax positions and concluded that blocs had taken no uncertain tax positions that require adjustment to the financial statements. Blocs files income tax returns in the u.s. Federal jurisdiction. Generally, blocs is no longer subject to income tax examinations by the u.s. Federal, state or local tax authorities for years before 2022.”

“Direct expenses related to fundraising events -286,817.”

“Direct expenses related to fundraising events 286,817.”