Civic Intelligence

Pennsbury Scholarship Foundation

990 • Fiscal year 2014 • EIN 23-6390934

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 14, 2015

134 Yardley AveFallsington, PA 19054-1119

(215) 428-4145

Siviq Scores

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

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

0.02x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

93rd percentile

56%

Higher net margin than 93% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

55th percentile

3.5%

Faster asset growth than 55% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

64th percentile

11%

Faster revenue growth than 64% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$3,216,974

Up $107,489 (+3.5%) from 2013

Net Assets

Up

$3,213,198

Up $107,338 (+3.5%) from 2013

Liabilities

Up

$3,776

Up $151 (+4.2%) from 2013

Revenue

Up

$213,930

Up $20,369 (+11%) from 2013

Expenses

Down

$93,149

Down $63,516 (-41%) from 2013

Net Income

Up

$120,781

Up $83,885 (+227%) from 2013

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2012: $2,881,196Liabilities 2012: $3,821Net Assets 2012: $2,877,3752012Assets 2013: $3,109,485Liabilities 2013: $3,625Net Assets 2013: $3,105,8602013Assets 2014: $3,216,974Liabilities 2014: $3,776Net Assets 2014: $3,213,1982014Assets 2015: $3,257,529Liabilities 2015: $3,879Net Assets 2015: $3,253,6502015Assets 2016: $3,438,888Liabilities 2016: $4,085Net Assets 2016: $3,434,8032016Assets 2017: $3,746,988Liabilities 2017: $56,423Net Assets 2017: $3,690,5652017Assets 2018: $3,501,496Liabilities 2018: $4,093Net Assets 2018: $3,497,4032018Assets 2019: $3,965,770Liabilities 2019: $0Net Assets 2019: $3,965,7702019Assets 2020: $4,229,877Liabilities 2020: $0Net Assets 2020: $4,229,8772020Assets 2021: $4,660,930Liabilities 2021: $0Net Assets 2021: $4,660,9302021Assets 2022: $4,065,374Liabilities 2022: $0Net Assets 2022: $4,065,3742022Assets 2023: $4,445,239Liabilities 2023: $0Net Assets 2023: $4,445,2392023Assets 2024: $4,763,430Liabilities 2024: $0Net Assets 2024: $4,763,4302024

Highlighted filing

2014

Assets$3,216,974
Liabilities$3,776
Net Assets$3,213,198

Operations Trend

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

$800K$600K$400K$200K$0Expenses 2012: $70,3412012Revenue 2013: $193,561Expenses 2013: $156,665Net Income 2013: $36,8962013Revenue 2014: $213,930Expenses 2014: $93,149Net Income 2014: $120,7812014Revenue 2015: $378,820Expenses 2015: $101,852Net Income 2015: $276,9682015Revenue 2016: $160,849Expenses 2016: $112,571Net Income 2016: $48,2782016Revenue 2017: $193,747Expenses 2017: $139,185Net Income 2017: $54,5622017Revenue 2018: $250,972Expenses 2018: $100,528Net Income 2018: $150,4442018Revenue 2019: $111,273Expenses 2019: $103,483Net Income 2019: $7,7902019Revenue 2020: $157,158Expenses 2020: $117,980Net Income 2020: $39,1782020Revenue 2021: $269,426Expenses 2021: $116,836Net Income 2021: $152,5902021Revenue 2022: $273,636Expenses 2022: $139,456Net Income 2022: $134,1802022Revenue 2023: $289,117Expenses 2023: $116,068Net Income 2023: $173,0492023Revenue 2024: $666,481Expenses 2024: $178,231Net Income 2024: $488,2502024

Highlighted filing

2014

Revenue$213,930
Expenses$93,149
Net Income$120,781
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 14, 2015
Return Version
2014v5.0
Gross Receipts
$213,955
Mission and Program Overview

Mission

Since 1956, the pennsbury scholarship foundation has existed to help deserving pennsbury graduates achieve their goal of higher education through scholarship grants and loans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,250,434$2,354,265▲ $103,831
Other Notes and Loans Receivable, Net$250,973$268,845▲ $17,872
Savings and Temporary Cash Investments$78,084$83,269▲ $5,185
Cash and Non-Interest-Bearing Accounts$66,633$57,276▼ $9,357
Prepaid Expenses and Deferred Charges$506$241▼ $265
Total Assets$3,109,485$3,216,974▲ $107,489
Other Assets Total$462,855$453,078▼ $9,777
Liabilities
Accounts Payable and Accrued Expenses$3,625$3,776▲ $151
Total Liabilities$3,625$3,776▲ $151
Net Assets / Fund Balance
Unrestricted Net Assets$2,647,847$2,762,468▲ $114,621
Permanently Rstr Net Assets$458,013$450,730▼ $7,283
Total Net Assets Fund Balance$3,105,860$3,213,198▲ $107,338
Total Liabilities and Net Assets / Fund Balance$3,109,485$3,216,974▲ $107,489

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$450,730--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$458,013---$458,013
2013$436,193-▲ $53,619-$458,013
2012$408,253-▲ $48,964-$436,193
2011$432,832-▼ $3,268-$408,253
2010$399,098-▲ $53,162-$432,832
Compensation and Service Providers

Board Members and Trustees

NameTitle
Smith JeffreyPresident
Ritzau StevenFirst Vice President
Adler PaulaDirector
Bradley Mary LouDirector
Ciesielka PaulDirector
Duffy HerbertDirector
Dunar DonnaDirector
Flax RandiDirector
Houseknecht RichardDirector
Lindbloom NormaDirector
Long WandaDirector
Magyar VinceDirector
Mchugh KevinDirector
Quake RichardDirector
Sibner JeffreyDirector
StradlingrandyDirector
Nolting LeonAssistant Treasurer
Regan CarolExecutive V.P.
Kleban SherrySecretary
Harman LouiseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$74,007
Program Service Revenue
$0
Investment Income
$139,948
Other Revenue
$-25
All Other Contributions
$74,007
Change in Net Assets
$120,781
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$64,250
Other Expenses$28,899
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$64,250--$64,250
Fees for Service Investment Mgmnt Fees$0$11,576$0$11,576
Other Expenses$10,488$0$0$10,488
Fees for Services Other$0$5,503$0$5,503
Office Expenses$0$639$0$639
Total Functional Expenses$74,738$18,411$0$93,149
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$25
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Pennsbury Scholarship Foundation
EIN
23-6390934
Phone
2154284145
Address
134 Yardley Ave, Fallsington, PA 19054-1119

Signing Officer

Name
Louise Harman
Title
Treasurer
Phone
2154284145
Signed
2015-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Smith
Formed
1956
Legal Domicile
Pa
Voting Board Members
20
Independent Board Members
18
Employees
0
Volunteers
25

Preparer

Firm
McLaren & Co PC
Address
504 Corporate Drive West, Langhorne, PA 19047-8011
Preparer
Robert H Mclaren CPA
Phone
2155791260
Supplemental Narrative

Additional Explanations

Pt VI, Line 12C

Each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person, has received a copy of policy, read and understands the policy, and agrees to comply with policy.

Pt VI, Line 7A

Certain Board members related to the Pennsbury School District are automatically appointed to the Foundation Board as enumerated in the Foundation's By-Laws.

Pt VI, Line 11B

The final form 990 is provided to the Board after filing.

Pt VI, Line 8B

Some committees do not keep minutes of their recommendations approved by the Board of Directors.

Pt XI

Decrease in beneficial interest in perpetual trust.

Form 990EZ, Part II, Line 24

Accrued interest receivable student loans fixed assets, net beneficial interest in perpetual trust

Form 990EZ, Part II, Line 26

ACCRUED EXPENSES

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Assistant Treasurer
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IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0462855
IRS990/OtherAssetsTotalGrp/EOYAmt0453078
IRS990/OtherChangesInNetAssetsAmt0-7283
IRS990/OtherExpensesGrp/Desc0Miscellaneous
IRS990/OtherExpensesGrp/Desc1Registration fees
IRS990/OtherExpensesGrp/Desc2Bad debts
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0568
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1125
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt210488
IRS990/OtherExpensesGrp/TotalAmt0568
IRS990/OtherExpensesGrp/TotalAmt1125
IRS990/OtherExpensesGrp/TotalAmt210488
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0250973
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0268845
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0458013
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0450730
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0506
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0241
IRS990/PrincipalOfficerNm0JEFFREY SMITH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt042515
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt053000
IRS990/PYInvestmentIncomeAmt0147857
IRS990/PYOtherExpensesAmt0103665
IRS990/PYOtherRevenueAmt03189
IRS990/PYRevenuesLessExpensesAmt036896
IRS990/PYTotalExpensesAmt0156665
IRS990/PYTotalRevenueAmt0193561
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0120781
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt078084
IRS990/SavingsAndTempCashInvstGrp/EOYAmt083269
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt074007
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt042515
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt035640
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt051147
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt024275
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0227584
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0139948
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0103538
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt089121
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt067129
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt068320
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0468056
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.32720
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.34670
IRS990ScheduleA/PublicSupportTotal170Amt0227584
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt074007
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt042515
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt035640
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt051147
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt024275
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0227584
IRS990ScheduleA/TotalSupportAmt0695640
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0458013
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0458013
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt014769
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0436193
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0458013
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt017030
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt053619
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt06555
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0408253
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0436193
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt014469
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt048964
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt05836
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0432832
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0408253
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt015475
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-3268
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt03201
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0399098
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0432832
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt016227
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt053162
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02348
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1450730
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Accrued Interest Receivable
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Beneficial Interest in Perpetual Trust
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0453078
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt053000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt153000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Grants, none exceeding $5,000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1Loans, none exceeding $5,000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt063
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt163
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person, has received a copy of policy, read and understands the policy, and agrees to comply with policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Certain Board members related to the Pennsbury School District are automatically appointed to the Foundation Board as enumerated in the Foundation's By-Laws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The final form 990 is provided to the Board after filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Some committees do not keep minutes of their recommendations approved by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Decrease in beneficial interest in perpetual trust.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ACCRUED INTEREST RECEIVABLE STUDENT LOANS FIXED ASSETS, NET BENEFICIAL INTEREST IN PERPETUAL TRUST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ACCRUED EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990EZ, Part II, Line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part II, Line 26
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false

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