Civic Intelligence

The Philadelphia Schools Project

990 • Fiscal year 2025 • EIN 27-3097212

Jul 01, 2024 to Jun 30, 2025 • Filed on Nov 15, 2025

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

50th percentile

0.12x

Higher debt load relative to assets than 50% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

52nd percentile

0.16x

Higher debt load relative to revenue than 52% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

5th percentile

-41%

Higher net margin than 5% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

94th percentile

$336,205

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

3rd percentile

-24%

Faster asset growth than 3% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

99th percentile

389%

Faster revenue growth than 99% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Assets

Down

$6,246,702

Down $7,549,366 (-55%) from 2022

Net Assets

Down

$5,522,354

Down $6,191,449 (-53%) from 2022

Liabilities

Down

$724,348

Down $1,357,917 (-65%) from 2022

Revenue

Down

$4,527,958

Down $5,283,464 (-54%) from 2022

Expenses

Down

$6,392,565

Down $742,142 (-10%) from 2022

Net Income

Down

-$1,864,607

Down $4,541,322 (-170%) from 2022

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

2025

Assets$6,246,702
Liabilities$724,348
Net Assets$5,522,354

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

2025

Revenue$4,527,958
Expenses$6,392,565
Net Income-$1,864,607
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 15, 2025
Return Version
2024v5.2
Gross Receipts
$4,527,958
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$7,025,003$4,758,384▼ $2,266,619
Pledges and Grants Receivable$526,000$676,040▲ $150,040
Intangible Assets$81,381$352,290▲ $270,909
Prepaid Expenses and Deferred Charges$87,876$82,396▼ $5,480
Land, Buildings, and Equipment, Net$79,307$53,184▼ $26,123
Accounts Receivable$1,500$4,426▲ $2,926
Cash and Non-Interest-Bearing Accounts$50$50→ $0
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$8,223,310$6,246,702▼ $1,976,608
Other Assets Total$422,193$319,932▼ $102,261
Liabilities
Accounts Payable and Accrued Expenses$98,620$418,664▲ $320,044
Grants Payable$326,396$0▼ $326,396
Other Liabilities$411,333$305,684▼ $105,649
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$836,349$724,348▼ $112,001
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,684,495$4,475,436▼ $2,209,059
Net Assets With Donor Restrictions$702,466$1,046,918▲ $344,452
Total Net Assets Fund Balance$7,386,961$5,522,354▼ $1,864,607
Total Liabilities and Net Assets / Fund Balance$8,223,310$6,246,702▼ $1,976,608

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,417$101,835$138,252
Leasehold Improvements$16,767$15,138$31,905
Other Assets Org$40,510--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy E HollandExecutive DirectorFT$307,779$28,426$336,205
Scott GaiberDeputy Chief - Talent InitiatiFT$187,526$39,263$226,789
Letisha LawsDeputy Chief - School InitiatiFT$165,523$17,176$182,699
Eileen WalshCo-Director - DevelopmentFT$131,061$22,356$153,417
Tanya Ruley - MayoChief of StaffFT$110,400$21,317$131,717
David Saenz JrDirector - CommunicationsFT$112,566$10,376$122,942

Board Members and Trustees

NameTitle
Benjamin PersofskyBoard Chair
Andy NewcombBoard Member
Colin KeltonBoard Member
Dr Amelia Coleman BrownBoard Member
Dr Michelle Carrera MoralesBoard Member
Dr Sean E VereenBoard Member
Evelyn W McNiffBoard Member
H Art TaylorBoard Member
Jennifer RiceBoard Member
Jessica Cunningham AkotoBoard Member
Kate HoustounBoard Member
Richard B WorleyBoard Member
William Marx JrPast Treasurer (Thru 09/15/24)
Zakiyyah BooneSecretary
Chip LinehanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Your Part-Time Controller LLCAccounting200 S Broad St 700, Philadelphia, PA 19103$132,923
TechademicsWebsite Design2400 Market St Suite 240, Philadelphia, PA 19103$110,031
Revenue and Support

Revenue Composition

Contributions and Grants
$4,213,294
Program Service Revenue
$117,750
Investment Income
$196,914
Other Revenue
$0
All Other Contributions
$4,213,294
Change in Net Assets
$-1,864,607

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,527,958
Total Revenue per Audited Statements
$4,527,958
Total Revenue per Form 990
$4,527,958
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,892,606
Salaries, Compensation, and Employee Benefits$1,847,158
Other Expenses$1,652,801
Total Fundraising Expense$357,342
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,892,606--$2,892,606
Other Salaries and Wages$578,552$508,415$31,487$1,118,454
Fees for Services Other$392,154$87,779$185,875$665,808
Current Officers, Directors, Trustees, and Key Employees$390,907$46,042$107,430$544,379
Advertising$216,235$8,205$912$225,352
Fees for Services Accounting-$164,338-$164,338
Information Technology$144,486$17,612-$162,098
Travel$124,136$4,185$616$128,937
Occupancy$73,367$44,069$10,330$127,766
Payroll Taxes$64,371$38,666$9,064$112,101
Depreciation Depletion$52,869$31,757$7,444$92,070
Pension Plan Contributions$18,743$17,345$1,289$37,377
Other Employee Benefits$8,124$26,649$74$34,847
Office Expenses$25,181$6,038$1,373$32,592
Fees for Services Legal-$25,467-$25,467
Insurance$10,286$6,179$1,448$17,913
Interest-$10,460-$10,460
Total Functional Expenses$4,992,017$1,043,206$357,342$6,392,565

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,392,565
Total Expenses per Audited Statements$6,392,565
Total Expenses per Form 990$6,392,565
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Esperanza Academy Charter SchoolPhiladelphia, PA501(c)(3)School Growth$622,204
The Fund for the School District of PAPhiladelphia, PA501(c)(3)School Growth$398,585
Philadelphia Charters for ExcellenceGlenside, PA501(c)(3)Policy Advocacy$383,800
Center for Black Educator DevelopmentElkins Park, PA501(c)(3)School Growth$268,396
KIPP Octavius Catto AcademyPhiladelphia, PA501(c)(3)School Growth$175,000
Pan American Academy Charter School - VPhiladelphia, PA501(c)(3)School Growth$153,500
Young Scholars Charter SchoolPhiladelphia, PA501(c)(3)School Growth$137,500
National Center for Grow Your OwnPlymouth, MI501(c)(3)-$135,000
Big Picture PhiladelphiaPhiladelphia, PA501(c)(3)School Growth$100,000
Children First PA CTEPhiladelphia, PA501(c)(3)School Growth$100,000
MAST Community Charter School IIPhiladelphia, PA501(c)(3)School Growth$75,000
Alliance For Progress Charter SchoolPhiladelphia, PA501(c)(3)Chromebooks$71,121
Teach PlusBoston, MA501(c)(3)School Growth$62,500
African American Charter School CoalitionPhiladelphia, PA501(c)(3)School Growth$50,000
Building 21Philadelphia, PA501(c)(3)School Growth$40,000
Imhotep InstitutePhiladelphia, PA501(c)(3)School Growth$40,000
Mastery ShoemakerPhiladelphia, PA501(c)(3)School Grants$40,000
Sankofa Freedom Academy Charter SchoolPhiladelphia, PA501(c)(3)Chromebooks$40,000
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
Lease Liability$305,684
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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:

Elevate 215 has engaged the firm WithumSmith+Brown PC, independent auditors, to prepare Form 990 based on the audited financial statements. The completed form is reviewed by Elevate 215's Executive Director and YTPC (Professional Services Accounting Firm). Once the Executive Director approves it, Form 990 is shared with the Board of Directors Finance Committee for review and comment. The board reviews and approves the final version of Form 990 before 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
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Holland
Formed
2010
Legal Domicile
Pa
Voting Board Members
14
Independent Board Members
14
Employees
16
Volunteers
14

Preparer

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

Additional Explanations

Form 990, Part III, Line 4D:

Elevate 215 maintains two web-based platforms to educate families about school options that are available throughout Philadelphia. Greatphillyschools.org is a web-based information system that provides detailed descriptions of 400+ K-12 public (district and charter), parochial, and private schools throughout Philadelphia. The site also provides resource articles that address various topics related to navigating the education system. Topics include but are not limited to frequently asked questions on school applications processed specifically by sector, scholarships, how to interact with a student's teacher, and other relevant information. In 2025, over 150,000 families accessed the website. In addition, Great Philly Schools hosted an annual K-12 Fair in October, where over 6,000 students and families participated and gathered information about school options in Philadelphia. The second technology platform is Applyphillycharter.org. Elevate 215 operates the Apply Philly Charter (www.applyphillycharter.org) platform, an online student enrollment system that manages the application and acceptance process for 71% of the public charter school campuses citywide. In 2025, over 29,000 families submitted 130,000 applications to select a K-12 public charter school.

Form 990 Part IX Line 11G

Description:consulting services total fees:628848

Form 990 Part IX Line 11G

Description:proff. Fees - human resources total fees:36960

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 period ended June 30, 2025.

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IRS990/Desc0School and Talent Grants 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. During the year ended June 30, 2025, 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. 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. 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/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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