Civic Intelligence

Pennsylvania Higher Education Foundation Inc

EIN 25-1891805 • 501(c)3 • Harrisburg, PA

View Organization Page

Profile

The corporation is incorporated under the nonprofit corporation law of 1988 of the commonwealth of pennsylvania to receive and accept donations to be administered permanently and exclusively for charitable purposes, including but not limited to activities intended to improve or enhance post-secondary educational opportunities for students in pennsylvania and elsewhere.

1200 North Seventh StreetSuiteHarrisburg, PA 17102

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.09x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

79th percentile

0.06x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

10th percentile

-85%

Higher net margin than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

100th percentile

$383,087

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 89.0% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

15th percentile

-74%

Faster asset growth than 15% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

100th percentile

18632%

Faster revenue growth than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$265,531

Down $773,640 (-74%) from 2014

Liabilities

Down

$23,734

Down $406,026 (-94%) from 2014

Net Assets

Down

$241,797

Down $367,614 (-60%) from 2014

Operations
Liabilities / Revenue79th percentileNet Margin10th percentile

Revenue

Up

$430,660

Up $428,361 (+18632%) from 2014

Expenses

Up

$797,788

Up $783,339 (+5421%) from 2014

Net Income

Down

-$367,128

Down $354,978 (-2922%) from 2014

Trend Graphs

Balance Sheet Trend

Asset Growth15th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2011: $1,319,932Liabilities 2011: $640,978Net Assets 2011: $678,9542011Assets 2012: $1,222,575Liabilities 2012: $591,049Net Assets 2012: $631,5262012Assets 2013: $1,061,407Liabilities 2013: $439,510Net Assets 2013: $621,8972013Assets 2014: $1,039,171Liabilities 2014: $429,760Net Assets 2014: $609,4112014Assets 2015: $265,531Liabilities 2015: $23,734Net Assets 2015: $241,7972015

Highlighted filing

2015

Assets$265,531
Liabilities$23,734
Net Assets$241,797
Open 2015 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2011: $7,642,9152011Expenses 2012: $25,7592012Expenses 2013: $12,5502013Revenue 2014: $2,299Expenses 2014: $14,449Net Income 2014: -$12,1502014Revenue 2015: $430,660Expenses 2015: $797,788Net Income 2015: -$367,1282015

Highlighted filing

2015

Revenue$430,660
Expenses$797,788
Net Income-$367,128
Open 2015 Filing

Filings

Most recent year

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

Open filing
Assets
$265,531
Liabilities
$23,734
Net assets
$241,797
Revenue
$430,660
Expenses
$797,788
Net income
-$367,128
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.02$0.24$0.43$0.80$0.37
2014Detailed filing. Detailed filing data is available for this year.$1.04$0.43$0.61$0.00$0.01$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.44$0.62$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.59$0.63$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.32$0.64$0.68$7.64
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2014 to May 31, 2015
Signed
Oct 7, 2015
Return Version
2014v5.0
Gross Receipts
$430,660
Mission and Program Overview

Mission

The corporation is incorporated under the nonprofit corporation law of 1988 of the commonwealth of pennsylvania to receive and accept donations to be administered permanently and exclusively for charitable purposes, including but not limited to activities intended to improve or enhance post-secondary educational opportunities for students in pennsylvania and elsewhere.

The foundation seeks to create, expand & enhance affordable access to postsecondary education through innova- tive programs that alleviate the financial burden of education costs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$765,363$0▼ $765,363
Savings and Temporary Cash Investments$179,487$179,666▲ $179
Cash and Non-Interest-Bearing Accounts$94,321$85,865▼ $8,456
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,039,171$265,531▼ $773,640
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$421,335$0▼ $421,335
Accounts Payable and Accrued Expenses$8,425$23,734▲ $15,309
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$429,760$23,734▼ $406,026
Net Assets / Fund Balance
Unrestricted Net Assets$609,411$241,797▼ $367,614
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$609,411$241,797▼ $367,614
Total Liabilities and Net Assets / Fund Balance$1,039,171$265,531▼ $773,640
Compensation and Service Providers
Top Officer Pay100th percentile

Board Members and Trustees

NameTitle
Senator Wayne D FontanaDirector and Chairman
James PrestonPresident/CEO/Director
Dr Robert DampmanDirector
Rep James R Roebuck JrDirector
Rep Sandra J MajorDirector
Rep William F AdolphDirector
Senator Vincent J HughesDirector
Nathan HenchSecretary
Timothy A GuentherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$421,335
Investment Income
$9,325
Other Revenue
$0
Change in Net Assets
$-367,128
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$771,001
Other Expenses$26,787
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$771,001--$771,001
Fees for Services Legal-$14,889-$14,889
Fees for Services Accounting-$8,845-$8,845
Office Expenses-$2,403-$2,403
Fees for Service Investment Mgmnt Fees-$650-$650
Total Functional Expenses$771,001$26,787$0$797,788
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pa Higher Education Assistance AgencyHarrisburg, PAGovtFurther educational opportunities in PA$421,335
Pa Higher Education Assistance AgencyHarrisburg, PAGovtFurther Educational Opportunities in Pa$349,666
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 Part VI Line 11B

“Phef engages an accounting firm to assist in the compilation and completion of the form 990. In addition, the phef treasurer and pheaa legal counsel review the 990 and provide comments as necessary prior to filing.”

Form 990 Part VI Line 12C

“The foundation's conflict of interest policy covers all officers and members of the board of directors. The foundation sends out an annual questionnaire to the officers and board members to disclose any relationships with and transactions with the foundation or other officers and board members. The secretary of the board is charged with reviewing the responses and consulting with pheaa legal counsel (and external legal counsel if necessary) in the event of a conflict.”

Form 990 Part VI Line 15A

“The foundation has no employees, who are paid from its own funds.”

Form 990 Part VI Line 19

“The foundation makes its governing documents and conflict of interest policy available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Pennsylvania Higher Education
EIN
25-1891805
In Care Of
% ANDREW MEHALKO
Phone
7177202023
Address
1200 North Seventh Street, Harrisburg, PA 17102
Doing Business As
Phef

Signing Officer

Name
Andrew Mehalko
Title
Treasurer
Phone
7177202018
Signed
2015-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Preston
Formed
2001
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Kpmg Llp
Address
1676 International Drive, McLean, VA 22102
Preparer
Whitney E Blair
Phone
7032868000
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IRS990/PrincipalOfficerNm0James Preston
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0GRANTS ASSUMED BY PHEAA
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IRS990ScheduleI/RecipientTable/CashGrantAmt1349666
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOVT
IRS990ScheduleI/RecipientTable/IRCSectionDesc1GOVT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Further educational opportunities in PA
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1FURTHER EDUCATIONAL OPPORTUNITIES IN PA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0PA HIGHER EDUCATION ASSISTANCE AGENCY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1PA HIGHER EDUCATION ASSISTANCE AGENCY
IRS990ScheduleI/RecipientTable/RecipientEIN0231693362
IRS990ScheduleI/RecipientTable/RecipientEIN1231693362
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01200 N 7TH ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11200 N 7TH ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Harrisburg
IRS990ScheduleI/RecipientTable/USAddress/CityNm1HARRISBURG
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0PA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1PA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd017102
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd117102
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The standard review process for an established loan program includes approving an amount and maintaining records to substantiate. In preparation for the dissolution of PHEF, the review process was modified. Grants were disbursed to the PA Higher Education Assistance Agency to further educational opportunities in Pennsylvania.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART I, LINE 1
IRS990ScheduleI/Total501c3OrgCnt01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt011570

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