Civic Intelligence

The Education Foundation

990 • Fiscal year 2022 • EIN 31-1705899

Jul 01, 2021 to Jun 30, 2022 • Filed on Aug 09, 2022

Organization ProfileWWW.EDUCATIONFDN.ORG
301 Grant StreetPittsburgh, PA 15219

(412) 453-6272

Siviq Scores

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

Liabilities / Assets

37th percentile

0.00x

Higher debt load relative to assets than 37% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.19x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

1st percentile

-811%

Higher net margin than 1% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$8,333

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 64.4% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

17th percentile

-13%

Faster asset growth than 17% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

74th percentile

38%

Faster revenue growth than 74% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$913,028

Down $138,333 (-13%) from 2021

Net Assets

Down

$910,629

Down $137,226 (-13%) from 2021

Liabilities

Down

$2,399

Down $1,107 (-32%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin1st percentile

Revenue

Up

$12,935

Up $3,590 (+38%) from 2021

Expenses

Up

$117,848

Up $40,575 (+53%) from 2021

Net Income

Down

-$104,913

Down $36,985 (-54%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $1,716,859Liabilities 2012: $31,018Net Assets 2012: $1,685,8412012Assets 2013: $1,575,473Liabilities 2013: $10,318Net Assets 2013: $1,565,1552013Assets 2014: $1,443,462Liabilities 2014: $11,089Net Assets 2014: $1,432,3732014Assets 2015: $1,636,543Liabilities 2015: $43,893Net Assets 2015: $1,592,6502015Assets 2016: $1,536,109Liabilities 2016: $5,948Net Assets 2016: $1,530,1612016Assets 2017: $1,277,307Liabilities 2017: $22,315Net Assets 2017: $1,254,9922017Assets 2018: $1,133,098Liabilities 2018: $3,205Net Assets 2018: $1,129,8932018Assets 2019: $1,080,566Liabilities 2019: $3,280Net Assets 2019: $1,077,2862019Assets 2020: $1,048,617Liabilities 2020: $3,478Net Assets 2020: $1,045,1392020Assets 2021: $1,051,361Liabilities 2021: $3,506Net Assets 2021: $1,047,8552021Assets 2022: $913,028Liabilities 2022: $2,399Net Assets 2022: $910,6292022Assets 2023: $855,943Liabilities 2023: $0Net Assets 2023: $855,9432023Assets 2024: $1,114,200Liabilities 2024: $0Net Assets 2024: $1,114,2002024

Highlighted filing

2022

Assets$913,028
Liabilities$2,399
Net Assets$910,629
Open 2022 Filing

Operations Trend

Revenue Growth74th percentile

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

$1.0M$500K$0-$500KExpenses 2012: $761,2492012Expenses 2013: $974,6812013Revenue 2014: $657,099Expenses 2014: $789,881Net Income 2014: -$132,7822014Revenue 2015: $705,738Expenses 2015: $545,461Net Income 2015: $160,2772015Revenue 2016: $606,071Expenses 2016: $668,560Net Income 2016: -$62,4892016Revenue 2017: $274,510Expenses 2017: $446,777Net Income 2017: -$172,2672017Revenue 2018: $149,546Expenses 2018: $184,304Net Income 2018: -$34,7582018Revenue 2019: $29,515Expenses 2019: $100,330Net Income 2019: -$70,8152019Revenue 2020: $28,152Expenses 2020: $63,965Net Income 2020: -$35,8132020Revenue 2021: $9,345Expenses 2021: $77,273Net Income 2021: -$67,9282021Revenue 2022: $12,935Expenses 2022: $117,848Net Income 2022: -$104,9132022Revenue 2023: $3,863Expenses 2023: $109,186Net Income 2023: -$105,3232023Revenue 2024: $216,496Expenses 2024: $19,986Net Income 2024: $196,5102024

Highlighted filing

2022

Revenue$12,935
Expenses$117,848
Net Income-$104,913
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Aug 9, 2022
Return Version
2021v4.0
Gross Receipts
$12,935
Mission and Program Overview

Mission

Founded in 1999, the education foundation was created to provide research, direct services, and offer scholarships to advance education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$930,422$761,158▼ $169,264
Cash and Non-Interest-Bearing Accounts$21,234$80,266▲ $59,032
Investments in Publicly Traded Securities$96,676$66,403▼ $30,273
Prepaid Expenses and Deferred Charges$3,029$5,201▲ $2,172
Total Assets$1,051,361$913,028▼ $138,333
Liabilities
Accounts Payable and Accrued Expenses$3,506$2,399▼ $1,107
Total Liabilities$3,506$2,399▼ $1,107
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$753,590$616,364▼ $137,226
Net Assets With Donor Restrictions$294,265$294,265→ $0
Total Net Assets Fund Balance$1,047,855$910,629▼ $137,226
Total Liabilities and Net Assets / Fund Balance$1,051,361$913,028▼ $138,333
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dr Mark DefuscoExecutive DiPT$8,333$8,333

Board Members and Trustees

NameTitle
Cathleen C RaffaeliChair
Dennis CarielloDirector
Rob LavetDirector
Robert LytleDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$219
Program Service Revenue
$0
Investment Income
$12,716
Other Revenue
$0
All Other Contributions
$219
Change in Net Assets
$-104,913
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$92,417
Other Expenses$25,431
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$50,884-$50,884
Comp Disqual Persons-$38,462-$38,462
Fees for Services Legal-$7,649-$7,649
Travel-$6,688-$6,688
Fees for Services Accounting-$6,500-$6,500
Payroll Taxes-$3,071-$3,071
Insurance-$1,877-$1,877
Office Expenses-$1,074-$1,074
Other Expenses-$620-$620
Fees for Services Other-$575-$575
Information Technology-$448-$448
Total Functional Expenses$0$117,848$0$117,848
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
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
No
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, Page 6, Part VI, Line 11B

“A full copy of form 990 is reviewed by the foundation's baord of directors prior to filing with the internal revenue service.”

Form 990, Page 6, Part VI, Line 12C

“During board meetings, each member informs the board of any conflict he/she may have regarding a discussion topic. The conflict of interest policy and the disclosure questionaire are reviewed and signed on an annual basis.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors reviews and determines the executive directors compensation rate. The rate was determined based on the economic and market conditions at the time the rate was set. In addition, the duties of the executive director are reviewed and discussed during the annual meeting.”

Form 990, Page 6, Part VI, Line 19

“The foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Education Foundation
EIN
31-1705899
Phone
4124536272
Address
301 GRANT STREET, PITTSBURGH, PA 15219

Signing Officer

Name
Dr Mark Defusco
Title
Executive Director
Phone
6176314801
Signed
2022-08-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Mark Defusco
Formed
1999
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
1

Preparer

Firm
Hennessy Blotzer LLC
Address
2539 WASHINGTON ROAD SUITE 1020-D, PITTSBURGH, PA 15241
Preparer
Cory T Blotzer CPA
Phone
4129304224
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A FULL COPY OF FORM 990 IS REVIEWED BY THE FOUNDATION'S BAORD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DURING BOARD MEETINGS, EACH MEMBER INFORMS THE BOARD OF ANY CONFLICT HE/SHE MAY HAVE REGARDING A DISCUSSION TOPIC. THE CONFLICT OF INTEREST POLICY AND THE DISCLOSURE QUESTIONAIRE ARE REVIEWED AND SIGNED ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS AND DETERMINES THE EXECUTIVE DIRECTORS COMPENSATION RATE. THE RATE WAS DETERMINED BASED ON THE ECONOMIC AND MARKET CONDITIONS AT THE TIME THE RATE WAS SET. IN ADDITION, THE DUTIES OF THE EXECUTIVE DIRECTOR ARE REVIEWED AND DISCUSSED DURING THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0290 COLUMBUS AVENUE
IRS990/USAddress/AddressLine2Txt0UNIT 6
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002116
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.EDUCATIONFDN.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DR MARK DEFUSCO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06176314801
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE EDUCATION FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0EDUC
ReturnHeader/Filer/EIN0311705899
ReturnHeader/Filer/PhoneNum04124536272
ReturnHeader/Filer/USAddress/AddressLine1Txt0301 GRANT STREET
ReturnHeader/Filer/USAddress/CityNm0PITTSBURGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd015219
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0871456824
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HENNESSY BLOTZER LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02539 WASHINGTON ROAD SUITE 1020-D
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PITTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd015241
ReturnHeader/PreparerPersonGrp/PhoneNum04129304224
ReturnHeader/PreparerPersonGrp/PreparationDt02022-09-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CORY T BLOTZER CPA
ReturnHeader/ReturnTs02022-09-07T14:51:38-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DR MARK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DEFUSCO
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$913,028
Liabilities
$2,399
Net assets
$910,629
Revenue
$12,935
Expenses
$117,848
Net income
-$104,913
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$0.22$0.02$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.86$0.00$0.86$0.00$0.11$0.11
2022Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.01$0.12$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.01$0.08$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.03$0.06$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.08$0.00$1.08$0.03$0.10$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.15$0.18$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.28$0.02$1.25$0.27$0.45$0.17
2016Detailed filing. Detailed filing data is available for this year.$1.54$0.01$1.53$0.61$0.67$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.64$0.04$1.59$0.71$0.55$0.16
2014Detailed filing. Detailed filing data is available for this year.$1.44$0.01$1.43$0.66$0.79$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.58$0.01$1.57$0.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$0.03$1.69$0.76
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $500k-$1M nonprofits