Civic Intelligence

Pennsbury Scholarship Foundation

990 • Fiscal year 2015 • EIN 23-6390934

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 12, 2016

Organization Profile[email protected]
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.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

21st percentile

0.01x

Higher debt load relative to revenue than 21% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

96th percentile

73%

Higher net margin than 96% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

52nd percentile

1.3%

Faster asset growth than 52% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

92nd percentile

77%

Faster revenue growth than 92% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$3,257,529

Up $40,555 (+1.3%) from 2014

Net Assets

Up

$3,253,650

Up $40,452 (+1.3%) from 2014

Liabilities

Up

$3,879

Up $103 (+2.7%) from 2014

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin96th percentile

Revenue

Up

$378,820

Up $164,890 (+77%) from 2014

Expenses

Up

$101,852

Up $8,703 (+9.3%) from 2014

Net Income

Up

$276,968

Up $156,187 (+129%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

2015

Assets$3,257,529
Liabilities$3,879
Net Assets$3,253,650
Open 2015 Filing

Operations Trend

Revenue Growth92nd percentile

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

2015

Revenue$378,820
Expenses$101,852
Net Income$276,968
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 12, 2016
Return Version
2015v2.1
Gross Receipts
$833,520
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$2,354,265$2,344,749▼ $9,516
Other Notes and Loans Receivable, Net$268,845$282,440▲ $13,595
Savings and Temporary Cash Investments$83,269$139,017▲ $55,748
Cash and Non-Interest-Bearing Accounts$57,276$66,375▲ $9,099
Prepaid Expenses and Deferred Charges$241$603▲ $362
Total Assets$3,216,974$3,257,529▲ $40,555
Other Assets Total$453,078$424,345▼ $28,733
Liabilities
Accounts Payable and Accrued Expenses$3,776$3,879▲ $103
Total Liabilities$3,776$3,879▲ $103
Net Assets / Fund Balance
Unrestricted Net Assets$2,762,468$2,840,932▲ $78,464
Permanently Rstr Net Assets$450,730$412,718▼ $38,012
Total Net Assets Fund Balance$3,213,198$3,253,650▲ $40,452
Total Liabilities and Net Assets / Fund Balance$3,216,974$3,257,529▲ $40,555

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$412,718--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$450,730-▼ $22,131-$412,718
2014$458,013-▲ $10,084-$450,730
2013$436,193-▲ $53,619-$458,013
2012$408,253-▲ $48,964-$436,193
2011$432,832-▼ $3,268-$408,253
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Smith JeffreyPresident
Ritzau StevenFirst Vice President
Adler PaulaDirector
Bradley Mary LouDirector
Brunozzi VickieDirector
Dunar Donna MDirector
Elliott VictoriaDirector
Houseknecht RichardDirector
Long WandaDirector
Magyar VincentDirector
Mchugh KevinDirector
Nolting LeeDirector
Quake RichardDirector
Sherrard CherylDirector
Sibner JeffreyDirector
Stradling RandyDirector
Ciesielka PaulAssistant Treasurer
Regan CarolExecutive V.P.
Kleban SherrySecretary
Harman LouiseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$190,938
Program Service Revenue
$0
Investment Income
$187,882
Other Revenue
$0
All Other Contributions
$190,938
Change in Net Assets
$276,968

Audited Revenue Reconciliation

Revenue per Audited Statements
$378,820
Revenue Not Reported on Form 990
$-198,504
Total Revenue per Audited Statements
$180,316
Total Revenue per Form 990
$378,820
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$67,000
Other Expenses$34,852
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$67,000--$67,000
Fees for Service Investment Mgmnt Fees$0$15,671$0$15,671
Other Expenses$10,900$0$0$10,900
Fees for Services Other$0$5,154$0$5,154
Fees for Services Accounting$0$1,500$0$1,500
Total Functional Expenses$77,900$23,952$0$101,852

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$101,852
Total Expenses per Audited Statements$101,852
Total Expenses per Form 990$101,852
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
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
Audit committee
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
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
2016-11-12
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”

Form 990EZ, Part II, Line 24

“Student loans”

Form 990EZ, Part II, Line 24

“Fixed assets, net”

Form 990EZ, Part II, Line 24

“Beneficial interest in perpetual trust”

Form 990EZ, Part II, Line 26

“Accrued expenses”

Financial Statement Notes

Pt XII, Line 2D

“Beneficial Interest in Perpetual Trust”

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1100
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IRS990/OtherExpensesGrp/ProgramServicesAmt210900
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IRS990/PrincipalOfficerNm0JEFFREY SMITH
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/InvestmentIncomeCYPct00
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IRS990ScheduleA/TotalSupportAmt0719696
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt015881
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-22131
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0458013
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0450730
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt017367
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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1412718
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IRS990ScheduleD/RevenueNotReportedAmt0-198504
IRS990ScheduleD/RevenueSubtotalAmt0378820
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Beneficial Interest in Perpetual Trust
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XII, Line 2d
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IRS990ScheduleD/TotalRevenuePerForm990Amt0378820
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0180316
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0101852
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt067000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt167000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Grants, none exceeding $5,000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1Loans, none exceeding $5,000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt075
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt175
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.

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,257,529
Liabilities
$3,879
Net assets
$3,253,650
Revenue
$378,820
Expenses
$101,852
Net income
$276,968
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.76$0.00$4.76$0.67$0.18$0.49
2023Detailed filing. Detailed filing data is available for this year.$4.45$0.00$4.45$0.29$0.12$0.17
2022Detailed filing. Detailed filing data is available for this year.$4.07$0.00$4.07$0.27$0.14$0.13
2021Detailed filing. Detailed filing data is available for this year.$4.66$0.00$4.66$0.27$0.12$0.15
2020Detailed filing. Detailed filing data is available for this year.$4.23$0.00$4.23$0.16$0.12$0.04
2019Detailed filing. Detailed filing data is available for this year.$3.97$0.00$3.97$0.11$0.10$0.01
2018Detailed filing. Detailed filing data is available for this year.$3.50$0.00$3.50$0.25$0.10$0.15
2017Detailed filing. Detailed filing data is available for this year.$3.75$0.06$3.69$0.19$0.14$0.05
2016Detailed filing. Detailed filing data is available for this year.$3.44$0.00$3.43$0.16$0.11$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.26$0.00$3.25$0.38$0.10$0.28
2014Detailed filing. Detailed filing data is available for this year.$3.22$0.00$3.21$0.21$0.09$0.12
2013Detailed filing. Detailed filing data is available for this year.$3.11$0.00$3.11$0.19$0.16$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.88$0.00$2.88$0.07