Civic Intelligence

Pennsylvania Private Equity Network DBA Wharton Private Equity Partners

990 • Fiscal year 2014 • EIN 23-3013870

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 07, 2015

Organization ProfileWWW.WPEN.ORG
PO Box 524Wayne, PA 19087

(610) 971-4802

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.22x

Higher debt load relative to assets than 81% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

86th percentile

0.22x

Higher debt load relative to revenue than 86% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Net Margin

5th percentile

-45%

Higher net margin than 5% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Top Officer Pay

87th percentile

$54,600

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 36.8% of source-year revenue.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Asset Growth

17th percentile

-18%

Faster asset growth than 17% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$150,685

Down $34,012 (-18%) from 2013

Net Assets

Down

$118,271

Down $66,426 (-36%) from 2013

Liabilities

Up

$32,414

Up $32,414 from 2013

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin5th percentile

Revenue

Down

$148,530

Down $49,904 (-25%) from 2013

Expenses

Up

$214,956

Up $57,553 (+37%) from 2013

Net Income

Down

-$66,426

Down $107,457 (-262%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2011: $129,703Liabilities 2011: $5,597Net Assets 2011: $124,1062011Assets 2012: $168,377Liabilities 2012: $24,711Net Assets 2012: $143,6662012Assets 2013: $184,697Liabilities 2013: $0Net Assets 2013: $184,6972013Assets 2014: $150,685Liabilities 2014: $32,414Net Assets 2014: $118,2712014Assets 2015: $127,036Liabilities 2015: $7,275Net Assets 2015: $119,7612015Assets 2016: $98,700Liabilities 2016: $9,766Net Assets 2016: $88,9342016Assets 2017: $119,043Liabilities 2017: $31,014Net Assets 2017: $88,0292017Assets 2018: $95,784Liabilities 2018: $0Net Assets 2018: $95,7842018Assets 2019: $139,358Liabilities 2019: $0Net Assets 2019: $139,3582019Assets 2020: $174,916Liabilities 2020: $0Net Assets 2020: $174,9162020Assets 2021: $226,823Liabilities 2021: $0Net Assets 2021: $226,8232021Assets 2022: $199,891Liabilities 2022: $13,600Net Assets 2022: $186,2912022Assets 2023: $231,295Liabilities 2023: $13,600Net Assets 2023: $217,6952023Assets 2024: $340,683Liabilities 2024: $3,605Net Assets 2024: $337,0782024

Highlighted filing

2014

Assets$150,685
Liabilities$32,414
Net Assets$118,271
Open 2014 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $280,549Expenses 2011: $313,299Net Income 2011: -$32,7502011Expenses 2012: $279,3402012Revenue 2013: $198,434Expenses 2013: $157,403Net Income 2013: $41,0312013Revenue 2014: $148,530Expenses 2014: $214,956Net Income 2014: -$66,4262014Revenue 2015: $205,587Expenses 2015: $204,097Net Income 2015: $1,4902015Revenue 2016: $207,781Expenses 2016: $238,608Net Income 2016: -$30,8272016Revenue 2017: $281,496Expenses 2017: $282,401Net Income 2017: -$9052017Revenue 2018: $247,801Expenses 2018: $252,546Net Income 2018: -$4,7452018Revenue 2019: $297,640Expenses 2019: $254,066Net Income 2019: $43,5742019Revenue 2020: $123,643Expenses 2020: $88,085Net Income 2020: $35,5582020Revenue 2021: $146,396Expenses 2021: $94,489Net Income 2021: $51,9072021Revenue 2022: $15,742Expenses 2022: $56,274Net Income 2022: -$40,5322022Revenue 2023: $417,458Expenses 2023: $386,054Net Income 2023: $31,4042023Revenue 2024: $408,392Expenses 2024: $289,009Net Income 2024: $119,3832024

Highlighted filing

2014

Revenue$148,530
Expenses$214,956
Net Income-$66,426
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 7, 2015
Return Version
2014v5.0
Gross Receipts
$148,530
Mission and Program Overview

Mission

The organization's purpose is to better the conditions in the private equity industry primarily through education and the exchange of ideas and knowledge between the private equity industry and the members and participants in the organization's programs. The organization carries out its purposes by conducting educational programs, symposiums and panel discussions across the globe. One hundred percent of the organization's efforts and time is devoted to the organization involved in carrying out the educational programs.

The organization's purpose is to better the conditions in the privateequity industry primarily through education and the exchange of ideasand knowledge between the private equity industry and the members and participants in the organization's programs. The organizationcarries out its purposes by conducting educational programs,symposiums and panel discussions across the globe. One hundredpercent of the organization's efforts and time is devoted to theorganization involved in carrying out the educational programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$183,377$141,330▼ $42,047
Accounts Receivable-$9,355-
Total Assets$184,697$150,685▼ $34,012
Other Assets Total$1,320$0▼ $1,320
Liabilities
Accounts Payable and Accrued Expenses-$32,414-
Total Liabilities$0$32,414▲ $32,414
Net Assets / Fund Balance
Unrestricted Net Assets$184,697$118,271▼ $66,426
Total Net Assets Fund Balance$184,697$118,271▼ $66,426
Total Liabilities and Net Assets / Fund Balance$184,697$150,685▼ $34,012
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Stephanie McalaineSecretaryPT$54,600$54,600

Board Members and Trustees

NameTitle
Bruce SchulmanCo-chairman
Rob NewboldCo-chairman
Brooke HayesCo-president
David MarsCo-president
Spencer HoffmanCo-president
Dean MillerVice Chairman
Fabio TerlevichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$83,046
Investment Income
$0
Other Revenue
$65,484
Change in Net Assets
$-66,426
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$150,356
Salaries, Compensation, and Employee Benefits$54,600
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$54,600-$54,600
Advertising-$29,368-$29,368
Conferences and Meetings$17,598--$17,598
Grants to Domestic Individuals$10,000--$10,000
Insurance-$5,650-$5,650
Fees for Services Accounting-$5,112-$5,112
Office Expenses$1,581$3,469-$5,050
Other Expenses$2,139$1,320-$3,459
All Other Expenses$2,533$126-$2,659
Total Functional Expenses$115,311$99,645$0$214,956
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“MEMBERS”

Form 990, Part VI, Section A, Line 7A

“MEMBERS”

Form 990, Part VI, Section A, Line 7B

“MEMBERS VOTE”

Form 990, Part VI, Section B, Line 11

“Preparer distributes form 990 to designated officer to review prior to signing and filing.”

Form 990, Part VI, Section C, Line 19

“BY REQUEST.”

Filing and Contact Details

Filer

Filer Name
Pennsylvania Private Equity Network
EIN
23-3013870
Phone
6109714802
Address
PO BOX 524, WAYNE, PA 19087
Doing Business As
Wharton Private Equity Partners

Signing Officer

Name
Stephanie Mcalaine
Title
Secretary
Phone
6109714802
Signed
2015-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Mcalaine
Formed
1996
Legal Domicile
Pa
Voting Board Members
8
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Drucker & Scaccetti Pc
Address
1600 MARKET STREET SUITE 3300, PHILADELPHIA, PA 19103
Preparer
Steven a Braun CPA
Phone
2156653960
Raw XML Appendix350 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt02
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0OFFICER & BOARD APPROVAL
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1RECIPIENTS OF THE FELLOWSHIP GRANT ARE AS FOLLOWS: CHARLES LAWSON ($5,000) 2115 SPRUCE ST APARTMENT 2F PHILADELPHIA, PA 19103 JONATHAN SOCKOL ($5,000) 225 S 18TH ST., APT 824 PHILADELPHIA, PA 19103 THE WHARTON PRIVATE EQUITY & VENTURE CAPITAL ASSOCIATION'S FELLOWSHIP GRANT IS AWARDED TO THE TOP NEWLY ADMITTED WHARTON STUDENT'S FROM THE PRIVATE EQUITY INDUSTRY EACH YEAR. WHARTON PRIVATE EQUITY & VENTURE CAPITAL ASSOCIATION IS THE ALUMNI ORGANIZATION FOR THE ROUGHLY 3,000 WHARTON AND UPENN ALUMNI WORKING IN THE PRIVATE EQUITY INDUSTRY WORLDWIDE. THE WHARTON PRIVATE EQUITY & VENTURE CAPITAL FELLOWSHIP GRANT HAS BEEN ESTABLISHED BY THE WHARTON PRIVATE EQUITY & VENTURE CAPITAL EXECUTIVE COMMITTEE TO ENCOURAGE AND SUPPORT LEADERSHIP AMONG WHARTON ALUMNI IN THE TOP RANKS OF PRIVATE EQUITY FIRMS AROUND THE GLOBE. THE RECIPIENT WILL BECOME A "CHARTER" MEMBER OF WHARTON PRIVATE EQUITY & VENTURE CAPITAL ASSOCIATION AND BE ELIGIBLE TO ATTEND MEMBER-ONLY PROGRAMS AND DINNERS HELD BY THE CLUB AND ITS LEADERSHIP AND TO BE MENTORED BY A MEMBER OF THE WPEP BOARD MEMBER DURING THEIR TIME AS A FELLOW. THE FELLOW WILL ALSO RECEIVE ASSISTANCE WITH HIS/HER SUMMER AND PERMANENT JOB SEARCH WITHIN THE PRIVATE EQUITY INDUSTRY FROM OUR LEADERSHIP. THE FELLOWSHIP INCLUDES A $5,000 GRANT AND WILL ONLY BE AWARDED TO THOSE STUDENTS WHO PLAN TO CONTINUE THEIR CAREERS IN PRIVATE EQUITY AT THE TIME OF ACCEPTANCE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1PAGE 2 PART III
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS VOTE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PREPARER DISTRIBUTES FORM 990 TO DESIGNATED OFFICER TO REVIEW PRIOR TO SIGNING AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BY REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0184697
IRS990/TotalAssetsEOYAmt0150685
IRS990/TotalAssetsGrp/BOYAmt0184697
IRS990/TotalAssetsGrp/EOYAmt0150685
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt099645
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0115311
IRS990/TotalFunctionalExpensesGrp/TotalAmt0214956
IRS990/TotalGrossUBIAmt065484
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt032414
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt032414
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0184697
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0118271
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt027734
IRS990/TotalOtherProgSrvcRevenueAmt03933
IRS990/TotalProgramServiceExpensesAmt0115311
IRS990/TotalProgramServiceRevenueAmt083046
IRS990/TotalReportableCompFromOrgAmt054600
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt083046
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0148530
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt065484
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0184697
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0150685
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0184697
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0118271
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 524
IRS990/USAddress/CityNm0WAYNE
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019087
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.WPEN.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHANIE MCALAINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum06109714802
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PENNSYLVANIA PRIVATE EQUITY NETWORK
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DBA WHARTON PRIVATE EQUITY PARTNERS
ReturnHeader/Filer/BusinessNameControlTxt0PENN
ReturnHeader/Filer/EIN0233013870
ReturnHeader/Filer/PhoneNum06109714802
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 524
ReturnHeader/Filer/USAddress/CityNm0WAYNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019087
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0232628118
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DRUCKER & SCACCETTI PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01600 MARKET STREET SUITE 3300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHILADELPHIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019103
ReturnHeader/PreparerPersonGrp/PhoneNum02156653960
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN A BRAUN CPA
ReturnHeader/ReturnTs02015-08-17T08:18:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$150,685
Liabilities
$32,414
Net assets
$118,271
Revenue
$148,530
Expenses
$214,956
Net income
-$66,426
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.41$0.04$3.37$4.08$2.89$1.19
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.31$0.14$2.18$4.17$3.86$0.31
2022Detailed filing. Detailed filing data is available for this year.$2.00$0.14$1.86$0.16$0.56$0.41
2021Detailed filing. Detailed filing data is available for this year.$2.27$0.00$2.27$1.46$0.94$0.52
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.75$0.00$1.75$1.24$0.88$0.36
2019Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$2.98$2.54$0.44
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.96$0.00$0.96$2.48$2.53$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.19$0.31$0.88$2.81$2.82$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.10$0.89$2.08$2.39$0.31
2015Detailed filing. Detailed filing data is available for this year.$1.27$0.07$1.20$2.06$2.04$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.51$0.32$1.18$1.49$2.15$0.66
2013Detailed filing. Detailed filing data is available for this year.$1.85$0.00$1.85$1.98$1.57$0.41
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.25$1.44$2.79
2011Summary only. Only limited summary data is available for this year.$1.30$0.06$1.24$2.81$3.13$0.33