Civic Intelligence

The Philadelphia Schools Project

990 • Fiscal year 2022 • EIN 27-3097212

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

123 South Broad - Suite 1170Philadelphia, PA 19109

(484) 785-8111

Siviq Scores

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

Liabilities / Assets

47th percentile

0.15x

Higher debt load relative to assets than 47% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

49th percentile

0.21x

Higher debt load relative to revenue than 49% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

78th percentile

27%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

75th percentile

$273,041

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

88th percentile

38%

Faster asset growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

30th percentile

-6.7%

Faster revenue growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$13,796,068

Up $4,830,292 (+54%) from 2020

Net Assets

Up

$11,713,803

Up $4,236,037 (+57%) from 2020

Liabilities

Up

$2,082,265

Up $594,255 (+40%) from 2020

Revenue

Down

$9,811,422

Down $5,648,269 (-37%) from 2020

Expenses

Down

$7,134,707

Down $3,748,702 (-34%) from 2020

Net Income

Down

$2,676,715

Down $1,899,567 (-42%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2012: $13,861,748Liabilities 2012: $236,657Net Assets 2012: $13,625,0912012Assets 2013: $21,539,258Liabilities 2013: $1,469,997Net Assets 2013: $20,069,2612013Assets 2014: $12,864,091Liabilities 2014: $2,430,017Net Assets 2014: $10,434,0742014Assets 2015: $13,834,982Liabilities 2015: $1,538,698Net Assets 2015: $12,296,2842015Assets 2016: $7,358,306Liabilities 2016: $2,380,428Net Assets 2016: $4,977,8782016Assets 2017: $8,080,618Liabilities 2017: $1,961,657Net Assets 2017: $6,118,9612017Assets 2018: $4,739,383Liabilities 2018: $1,781,182Net Assets 2018: $2,958,2012018Assets 2019: $4,497,626Liabilities 2019: $1,596,142Net Assets 2019: $2,901,4842019Assets 2020: $8,965,776Liabilities 2020: $1,488,010Net Assets 2020: $7,477,7662020Assets 2022: $13,796,068Liabilities 2022: $2,082,265Net Assets 2022: $11,713,8032022Assets 2025: $6,246,702Liabilities 2025: $724,348Net Assets 2025: $5,522,3542025

Highlighted filing

2022

Assets$13,796,068
Liabilities$2,082,265
Net Assets$11,713,803

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2012: $6,034,1612012Revenue 2013: $20,529,026Expenses 2013: $14,084,856Net Income 2013: $6,444,1702013Revenue 2014: $7,282,390Expenses 2014: $16,917,577Net Income 2014: -$9,635,1872014Revenue 2015: $16,443,833Expenses 2015: $14,581,623Net Income 2015: $1,862,2102015Revenue 2016: $10,740,387Expenses 2016: $18,042,083Net Income 2016: -$7,301,6962016Revenue 2017: $13,256,148Expenses 2017: $12,157,747Net Income 2017: $1,098,4012017Revenue 2018: $7,818,336Expenses 2018: $10,464,667Net Income 2018: -$2,646,3312018Revenue 2019: $8,643,304Expenses 2019: $8,700,021Net Income 2019: -$56,7172019Revenue 2020: $15,459,691Expenses 2020: $10,883,409Net Income 2020: $4,576,2822020Revenue 2022: $9,811,422Expenses 2022: $7,134,707Net Income 2022: $2,676,7152022Revenue 2025: $4,527,958Expenses 2025: $6,392,565Net Income 2025: -$1,864,6072025

Highlighted filing

2022

Revenue$9,811,422
Expenses$7,134,707
Net Income$2,676,715
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$9,811,443
Mission and Program Overview

Mission

Psp's mission is to ensure every child in philadelphia attends a great school and graduates from high school prepared for college or the workplace. We do this by increasing the number of high performing charter, district, and private schools in philadelphia. We raise philanthropic funds and invest those funds in school operators and people that have the ability to create and maintain great schools across philadelphia. Also, we activate parents to demand great schools in their communities and facilitate the sharing of best practices among school leaders.

Elevate 215 is developing a collaborative and research-based vision for education to advance learning outcomes for Philadelphia students over the next decade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$6,813,335$11,605,025▲ $4,791,690
Pledges and Grants Receivable$1,243,016$1,347,564▲ $104,548
Land, Buildings, and Equipment, Net$17,886$112,438▲ $94,552
Intangible Assets$0$72,542▲ $72,542
Accounts Receivable$31,500$62,500▲ $31,000
Prepaid Expenses and Deferred Charges$23,871$25,010▲ $1,139
Cash and Non-Interest-Bearing Accounts$1,855,775$1,030▼ $1,854,745
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$9,991,857$13,796,068▲ $3,804,211
Other Assets Total$6,474$569,959▲ $563,485
Liabilities
Grants Payable$767,726$1,212,296▲ $444,570
Other Liabilities$4,605$564,821▲ $560,216
Accounts Payable and Accrued Expenses$125,438$251,898▲ $126,460
Deferred Revenue$57,000$53,250▼ $3,750
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$954,769$2,082,265▲ $1,127,496
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,291,410$10,530,934▲ $3,239,524
Net Assets With Donor Restrictions$1,745,678$1,182,869▼ $562,809
Total Net Assets Fund Balance$9,037,088$11,713,803▲ $2,676,715
Total Liabilities and Net Assets / Fund Balance$9,991,857$13,796,068▲ $3,804,211

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$91,221$34,221$125,442
Leasehold Improvements$21,217$2,433$23,650
Other Land Buildings$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy E HollandExecutive DirectorFT$248,220$24,821$273,041
Eileen WalshCo- DirectorFT$118,899$31,428$150,327
Salma K KhanSr. Director - Comm. Eng.FT$119,664$14,000$133,664
Allison ResnickCo-DIRECTOR - DevelopmentFT$121,816$5,888$127,704
Samuel DavidsonDIRECTOR - DevelopmentFT$103,883$17,913$121,796

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Your Part-Time Controller LLCAccounting1500 Walnut St 1200, Philadelphia, PA 19102$163,841
SCG Consulting LLCGrant InvestmentPO BOX 40287, S Padre Isle, TX 78597$136,812
DesignBuildDo VenturesLeadership Support8101 ST MARTINS LANE, Philadelphia, PA 19118$135,662
MGT Kitamba Investor LLCStrategy and Brand S4320 W Kennedy Boulevard Suite 200, Tampa, FL 33609$105,452
Revenue and Support

Revenue Composition

Contributions and Grants
$9,663,008
Program Service Revenue
$116,250
Investment Income
$32,164
Other Revenue
$0
All Other Contributions
$9,663,008
Change in Net Assets
$2,676,715

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,811,422
Total Revenue per Audited Statements
$9,811,422
Total Revenue per Form 990
$9,811,422
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,121,077
Other Expenses$1,587,539
Salaries, Compensation, and Employee Benefits$1,426,091
Total Fundraising Expense$384,460
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,121,077--$4,121,077
Other Salaries and Wages$368,437$418,749$158,098$945,284
Fees for Services Other$265,163$520,132$56,470$841,765
Current Officers, Directors, Trustees, and Key Employees$137,411$41,223$96,187$274,821
Fees for Services Accounting-$200,627-$200,627
Information Technology$65,602$48,916-$114,518
Occupancy$43,322$40,057$21,562$104,941
Other Employee Benefits$35,778$37,711$16,309$89,798
Advertising$77,622$9,770-$87,392
Travel$67,216$19,316$229$86,761
Payroll Taxes$35,174$32,524$17,509$85,207
Office Expenses$11,871$33,453$510$45,834
Fees for Services Legal-$44,058-$44,058
Depreciation Depletion$17,620$16,292$8,770$42,682
Pension Plan Contributions$11,918$14,143$4,920$30,981
Insurance$7,827$7,238$3,896$18,961
Total Functional Expenses$5,266,038$1,484,209$384,460$7,134,707

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,134,707
Total Expenses per Audited Statements$7,134,707
Total Expenses per Form 990$7,134,707
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
KIPP Administrative Services CorpPhiladelphia, PA501c3School Growth$1,000,000
Esperanza Academy Charter SchoolPhiladelphia, PA501c3School Growth$559,296
Center for Black Educator DevelopmentElkins Park, PA501c3School Growth$468,178
MaST II Community Charter SchoolPhiladelphia, PA501c3School Growth$416,667
Teach for America IncSan Francisco, CA501c3Talent$400,000
Independence Mission SchoolsKing of Prussia, PA501c3School Growth$328,000
Philadelphia Charters for ExcellenceGlenside, PA501c3Policy$228,350
Skyrocket Education IncMerrick, NY501c3School Growth$138,500
Mastery Charter Elementary SchoolPhiladelphia, PA501c3School Growth$100,000
Philadelphia Hebrew Public Charter SchoolPhiladelphia, PA501c3School Growth$100,000
School District of PhiladelphiaPhiladelphia, PA501c3School Growth$75,000
School District of PhiladelphiaPhiladelphia, PA115Hill-Freedman Spring Point$64,448
Steppingstone Scholars IncPhiladelphia, PA501c3School Growth$57,250
KIPP North Philadelphia Elementary AcademyPhiladelphia, PA-School Growth$44,000
Inquiry SchoolsPhiladelphia, PA501c3School growth$26,500
Cristo Rey Philadelphia High SchoolPhiladelphia, PA501c3School Growth$25,000
Faith in the Future FoundationPhiladelphia, PA501c3School Growth$25,000
Panorama EducationBoston, MA501c3School Growth$20,908
Saint Joseph's UniversityPhiladelphia, PA501c3School Growth$9,800
Alliance for Progress Charter SchoolPhiladelphia, PA501c3School Growth$9,375
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$564,821
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 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

THE ORGANIZATION HAS ENGAGED OUR INDEPENDENT ACCOUNTANTS, WITHUMSMITH+BROWN P.C., TO PREPARE FORM 990 BASED ON THE AUDITED FINANCIAL STATEMENTS. THE COMPLETED FORM IS REVIEWED BY ELEVATE 215'S EXECUTIVE. DIRECTOR AND YPTC, A PROFESSIONAL SERVICES FIRM. THE FORM IS ALSO SHARED WITH the BOARD's FINANCE COMMITTEE FOR REVIEW AND COMMENT. THE FINAL VERSION OF THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING WITH THE IRS.

Form 990, Part VI, Section B, Line 12C

Elevate 215 ADOPTED A CONFLICT OF INTEREST POLICY IN SEPTEMBER, 2010. BOARD MEMBERS AND OFFICERS ARE REQUIRED TO DISCLOSE CONFLICTS ON AN ANNUAL BASIS USING A DISCLOSURE FORM THAT HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. THE BOARD'S NOMINATING COMMITTEE REVIEWS THE DISCLOSURES TO ENSURE THAT (A) THERE ARE NO CONFLICTS, OR (B) ANY BOARD-MEMBER OR OFFICER INTERESTS WHICH CREATE THE POTENTIAL FOR CONFLICTS HAVE BEEN PROPERLY NOTED, AND THAT CARE HAS BEEN TAKEN BY THE BOARD TO FOLLOW THE PROCEDURES OUTLINED IN THE BOARD'S CONFLICT OF INTEREST POLICY TO ENSURE THAT THE INTEREST(S) IN QUESTION DO NOT INFLUENCE BOARD OR MANAGEMENT DECISIONS. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A DIRECTOR OR COMMITTEE MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM SUCH MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD SUCH MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD CHAIR OR THE GOVERNANCE/ NOMINATING COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.

Form 990, Part VI, Section B, Line 15

The board of directors oversees executive compensation package on an annual basis. The board annually reviews executive base compensation, as well as raises and bonuses which are determined by three primary factors: the budget of the organization; a review of compensation paid in similar non-profit institutions, both local and national, for comparable positions; and the performance of the officer or key employee. All governing documents, financial statements, and policies will be available upon request for the same period of disclosure as set forth in section 6104(d). Requests will be honored within ten business days at no cost to the requester.

Form 990, Part VI, Section C, Line 19

All governing documents, financial statements, and policies will be available upon request for the same period of disclosure as set forth in section 6104(d). Requests will be honored within ten business days at no cost to the requester.

Filing and Contact Details

Filer

Filer Name
Elevate 215
EIN
27-3097212
In Care Of
% STACY HOLLAND
Phone
4847858111
Address
123 South Broad - Suite 1170, Philadelphia, PA 19109

Signing Officer

Name
Stacy Holland
Title
Executive Director
Phone
4847858111
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Holland
Formed
2010
Legal Domicile
Pa
Voting Board Members
10
Independent Board Members
10
Employees
14
Volunteers
10

Preparer

Firm
Withumsmithbrown Pc
Address
1835 MARKET STREET SUITE 1710, PHILADELPHIA, PA 19103-2945
Preparer
Eric M Strauss
Phone
2155462140
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

The Organization develops and maintains two technology-based resources to support families in learning about and selecting a school that is a good fit for their children. GreatPhillySchools.org is a web-based information resource that helps parents and guardians learn about school options in Philadelphia by sharing information on school services and performance ratings for more than 2,000 pre-kindergarten and K-12 schools; it also features advice and answers to frequently asked questions on various topics including school application processes specific by sector, scholarships, how to apply to high schools, interacting with a student's teacher, and other relevant information. In 2022, over 200,000 families utilized the website. In 2022, Great Philly Schools held an in-person high school fair, an annual event held in October, at which over 100 schools provided information to 9,000 students and families. An additional technology platform, Apply Philly Charter (applyphillycharter.org), is an online standard enrollment system that facilitates the application and acceptance process for a majority of the public charter schools in Philadelphia. In 2022, over 23,000 families utilized Apply Philly Charter to select a school.

Form 990 Part IX Line 11G

Description:consulting total fees:794329

Form 990 Part IX Line 11G

Description:human resources total fees:47436

Financial Statement Notes

Schedule D, Part X, Line 2

The Organization is generally exempt from federal income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code. In addition, the Organization 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. The Organization has no unrelated business income for the years ended December 31, 2022 and 2021.

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IRS990/Desc0School and Talent Investments Elevate 215 makes grants to school operators to support the start-up, expansion, or the capacity building of public, public charter, and catholic schools located in Philadelphia. Grant funding supports the expenses of startup, growth and/or improvement activities over the course of single or multiple years. The Organization screens prospective applications by conducting extensive due diligence on the applicants before approving grants, including examination of school models, quantitative data on academic outcomes, analysis of student attendance, attrition, graduation and matriculation data, financial analysis, review of strategic growth plans, assessment of organizational leadership capacity, interviews with school leaders, and school site visits. The Organization invests in talent development initiatives, which are focused on strengthening the recruitment, retention and skill development of school leaders and teachers. In 2022, Elevate 215 supported 22 organizations. Community Resources The Organization develops and maintains two technology-based resources to support families in learning about and selecting a school that is a good fit for their children. GreatPhillySchools.org is a web-based information resource that helps parents and guardians learn about school options in Philadelphia by sharing information on school services and performance ratings for more than 2,000 pre-kindergarten and K-12 schools; it also features advice and answers to frequently asked questions on various topics including school application processes specific by sector, scholarships, how to apply to high schools, interacting with a student's teacher, and other relevant information. In 2022, over 200,000 families utilized the website. In 2022, Great Philly Schools held an in-person high school fair, an annual event held in October, at which over 100 schools provided information to 9,000 students and families. An additional technology platform, Apply Philly Charter (applyphillycharter.org), is an online standard enrollment system that facilitates the application and acceptance process for a majority of the public charter schools in Philadelphia. In 2022, over 23,000 families utilized Apply Philly Charter to select a school. Policy and Advocacy To ensure that the conditions exist in Philadelphia and Pennsylvania to support the growth and improvement of quality schools, the Organization educates and advocates for evolved education-related policies and makes grants to support such advocacy. The Organization's advocacy is always nonpartisan; it does not support or advocate on behalf of candidates for elected office or education legislation.
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IRS990/Form990PartVIISectionAGrp/PersonNm5Michael G O'Neill
IRS990/Form990PartVIISectionAGrp/PersonNm6William Marx Jr
IRS990/Form990PartVIISectionAGrp/PersonNm7F William McNabb III
IRS990/Form990PartVIISectionAGrp/PersonNm8Evelyn W McNiff
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
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IRS990/MissionDesc0Elevate 215 is a catalyst for preparing students for the world of tomorrow by modernizing the learning experience in Philadelphia schools today. We do this by: supporting schools and talent, collaborating with our partners, expanding access and resources for families, and advocating to create the conditions for success.
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IRS990/ProgSrvcAccomActy2Grp/Desc0The organization develops and maintains the technology platform, Apply Philly Charter (applyphillycharter.org). This is an online standard enrollment system that facilitates the application and acceptance process for a majority of the public charter schools in Philadelphia. In 2022, over 23,000 families utilized Apply Philly Charter to select a school.
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