Civic Intelligence

Fund for Educational Excellence Inc

EIN 52-1129402 • 501(c)3 • Baltimore, MD

Profile

We expand resources, identify and accelerate solutions, and recognize excellence so that all children in baltimore city public schools experience an effective and adequate education.

800 North Charles Street 400Baltimore, MD 21201

www.thefundbalt.org

Siviq Scores

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

Liabilities / Assets

29th percentile

0.06x

Higher debt load relative to assets than 29% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

24th percentile

0.10x

Higher debt load relative to revenue than 24% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

17th percentile

-11%

Higher net margin than 17% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

14th percentile

-5.3%

Faster asset growth than 14% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

25th percentile

-3.7%

Faster revenue growth than 25% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$35,054,202

Up $3,795,759 (+12%) from 2024

Liabilities

Up

$4,216,608

Up $931,194 (+28%) from 2024

Net Assets

Up

$30,837,594

Up $2,864,565 (+10%) from 2024

Revenue

Up

$30,673,408

Up $9,378,654 (+44%) from 2024

Expenses

Up

$27,887,178

Up $525,466 (+1.9%) from 2024

Net Income

Up

$2,786,230

Up $8,853,188 (+146%) from 2024

Trend Graphs

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $3,769,418Liabilities 2010: $658,163Net Assets 2010: $3,111,2552010Assets 2011: $2,110,208Liabilities 2011: $152,322Net Assets 2011: $1,957,8862011Assets 2012: $5,056,607Liabilities 2012: $599,235Net Assets 2012: $4,457,3722012Assets 2013: $6,298,776Liabilities 2013: $644,502Net Assets 2013: $5,654,2742013Assets 2014: $7,060,353Liabilities 2014: $1,093,130Net Assets 2014: $5,967,2232014Assets 2015: $9,181,125Liabilities 2015: $2,061,607Net Assets 2015: $7,119,5182015Assets 2016: $8,815,881Liabilities 2016: $1,555,576Net Assets 2016: $7,260,3052016Assets 2017: $9,225,136Liabilities 2017: $649,978Net Assets 2017: $8,575,1582017Assets 2018: $10,455,987Liabilities 2018: $646,953Net Assets 2018: $9,809,0342018Assets 2019: $22,874,981Liabilities 2019: $1,781,405Net Assets 2019: $21,093,5762019Assets 2020: $23,667,148Liabilities 2020: $2,853,663Net Assets 2020: $20,813,4852020Assets 2021: $39,237,536Liabilities 2021: $2,813,277Net Assets 2021: $36,424,2592021Assets 2022: $38,110,666Liabilities 2022: $1,857,686Net Assets 2022: $36,252,9802022Assets 2023: $36,091,507Liabilities 2023: $2,136,655Net Assets 2023: $33,954,8522023Assets 2024: $31,258,443Liabilities 2024: $3,285,414Net Assets 2024: $27,973,0292024Assets 2025: $35,054,202Liabilities 2025: $4,216,608Net Assets 2025: $30,837,5942025

Highlighted filing

2025

Assets$35,054,202
Liabilities$4,216,608
Net Assets$30,837,594

Operations Trend

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

$40M$20M$0-$20MExpenses 2010: $4,319,0522010Revenue 2011: $2,789,914Expenses 2011: $3,994,653Net Income 2011: -$1,204,7392011Revenue 2012: $6,155,561Expenses 2012: $3,654,205Net Income 2012: $2,501,3562012Expenses 2013: $5,750,6372013Revenue 2014: $5,014,514Expenses 2014: $4,756,715Net Income 2014: $257,7992014Revenue 2015: $5,984,362Expenses 2015: $4,837,674Net Income 2015: $1,146,6882015Revenue 2016: $3,802,004Expenses 2016: $3,668,224Net Income 2016: $133,7802016Revenue 2017: $7,203,612Expenses 2017: $5,924,959Net Income 2017: $1,278,6532017Revenue 2018: $9,642,515Expenses 2018: $8,667,213Net Income 2018: $975,3022018Revenue 2019: $24,091,662Expenses 2019: $12,834,171Net Income 2019: $11,257,4912019Revenue 2020: $18,302,111Expenses 2020: $18,594,138Net Income 2020: -$292,0272020Revenue 2021: $36,549,916Expenses 2021: $21,073,076Net Income 2021: $15,476,8402021Revenue 2022: $23,197,789Expenses 2022: $23,310,321Net Income 2022: -$112,5322022Revenue 2023: $22,332,215Expenses 2023: $24,704,182Net Income 2023: -$2,371,9672023Revenue 2024: $21,294,754Expenses 2024: $27,361,712Net Income 2024: -$6,066,9582024Revenue 2025: $30,673,408Expenses 2025: $27,887,178Net Income 2025: $2,786,2302025

Highlighted filing

2025

Revenue$30,673,408
Expenses$27,887,178
Net Income$2,786,230

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$35.1$4.22$30.8$30.7$27.9$2.79
2024Detailed filing. Detailed filing data is available for this year.$31.3$3.29$28.0$21.3$27.4$6.07
2023Detailed filing. Detailed filing data is available for this year.$36.1$2.14$34.0$22.3$24.7$2.37
2022Detailed filing. Detailed filing data is available for this year.$38.1$1.86$36.3$23.2$23.3$0.11
2021Detailed filing. Detailed filing data is available for this year.$39.2$2.81$36.4$36.5$21.1$15.5
2020Detailed filing. Detailed filing data is available for this year.$23.7$2.85$20.8$18.3$18.6$0.29
2019Detailed filing. Detailed filing data is available for this year.$22.9$1.78$21.1$24.1$12.8$11.3
2018Detailed filing. Detailed filing data is available for this year.$10.5$0.65$9.81$9.64$8.67$0.98
2017Detailed filing. Detailed filing data is available for this year.$9.23$0.65$8.58$7.20$5.92$1.28
2016Detailed filing. Detailed filing data is available for this year.$8.82$1.56$7.26$3.80$3.67$0.13
2015Detailed filing. Detailed filing data is available for this year.$9.18$2.06$7.12$5.98$4.84$1.15
2014Detailed filing. Detailed filing data is available for this year.$7.06$1.09$5.97$5.01$4.76$0.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.30$0.64$5.65$5.75
2012Summary only. Only limited summary data is available for this year.$5.06$0.60$4.46$6.16$3.65$2.50
2011Summary only. Only limited summary data is available for this year.$2.11$0.15$1.96$2.79$3.99$1.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.77$0.66$3.11$4.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 6, 2026
Return Version
2024v5.2
Gross Receipts
$30,673,408
Mission and Program Overview

Mission

The fund for educational excellence expands resources, identifies and accelerates solutions, and recognizes excellence so that all children in baltimore city public schools experience an effective and equitable education.

The fund for educational excellence expands resources, indentifies and accelerates solutions, and recognizes excellence so that all children in baltimore city public schools experience an effective and equitable education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$21,811,470$20,104,540▼ $1,706,930
Accounts Receivable$7,815,514$13,434,780▲ $5,619,266
Investments in Publicly Traded Securities$627,268$705,604▲ $78,336
Cash and Non-Interest-Bearing Accounts$243,524$284,827▲ $41,303
Prepaid Expenses and Deferred Charges$89,361$100,802▲ $11,441
Land, Buildings, and Equipment, Net$36,473$22,265▼ $14,208
Intangible Assets$129,916$18,983▼ $110,933
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$31,258,443$35,054,202▲ $3,795,759
Other Assets Total$504,917$382,401▼ $122,516
Liabilities
Accounts Payable and Accrued Expenses$2,113,649$1,774,293▼ $339,356
Grants Payable$405,078$1,519,613▲ $1,114,535
Other Liabilities$511,123$922,702▲ $411,579
Unsecured Notes Loans Payable$255,564--
Total Liabilities$3,285,414$4,216,608▲ $931,194
Net Assets / Fund Balance
Net Assets With Donor Restrictions$22,587,591$24,538,597▲ $1,951,006
Net Assets Without Donor Restrictions$5,385,438$6,298,997▲ $913,559
Total Net Assets Fund Balance$27,973,029$30,837,594▲ $2,864,565
Total Liabilities and Net Assets / Fund Balance$31,258,443$35,054,202▲ $3,795,759

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$22,265$313,628$335,893

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$477,135-▲ $88,107$37,923$527,319
2023$405,425-▲ $92,860$21,150$477,135
2022$346,381-▲ $81,530$22,486$405,425
2021$446,361-▼ $50,874$49,106$346,381
2020$327,622-▲ $140,389$21,650$446,361
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Roger SchulmanPresident & CEOFT$271,100$49,898$320,998
Julia BaezCEO, Balt PromiseFT$221,164$21,711$242,875
Chuck AdkinsCFOFT$207,721$30,996$238,717
Bridget BlountDep CEO - BpFT$176,818$17,553$194,371
Kevin LearySr. Prgm DirectorFT$145,099$35,485$180,584
Wendy SametEx Director - Middl GrdFT$150,490$23,478$173,968
Corrie SchoenbergSr Prgm DirectorFT$149,446$23,056$172,502
Sharon DondesSr Prgm DirectorFT$126,086$38,409$164,495

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Systems Design Lab LLCConsulting50 S MAIN STREET, Hanover, NH 03755$535,566
Torrain Advisory LLCConsulting636 STAMFORD RD, Baltimore, MD 21229$170,000
The Ritter Group LLCConsulting1040 PARK AVENUE STE 300, Baltimore, MD 21201$140,750
Community Capacity BuildersConsulting1469 STEVENSON STREET, Baltimore, MD 21230$131,425
Gilmore Khandhar LLCConsulting300 EAST LOMBARD ST STE 840, Baltimore, MD 21202$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$27,255,636
Program Service Revenue
$2,410,970
Investment Income
$1,006,802
Other Revenue
$0
All Other Contributions
$25,467,611
Change in Net Assets
$2,786,230

Audited Revenue Reconciliation

Revenue per Audited Statements
$30,673,408
Revenue Not Reported on Form 990
$78,335
Total Revenue per Audited Statements
$30,751,743
Total Revenue per Form 990
$30,673,408
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,793,991
Salaries, Compensation, and Employee Benefits$8,033,242
Grants and Similar Amounts Paid$6,044,945
Total Fundraising Expense$863,334
Professional Fundraising Fees$15,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$8,851,238$198,340$37,958$9,087,536
Grants to Domestic Orgs$6,044,945--$6,044,945
Other Salaries and Wages$4,419,349$959,104$403,110$5,781,563
Travel$1,467,100$21,007$431$1,488,538
Other Employee Benefits$721,889$61,971$47,995$831,855
Current Officers, Directors, Trustees, and Key Employees$102,550$437,520$245,895$785,965
Payroll Taxes$335,808$97,207$42,776$475,791
Other Expenses$315,643$31,205$8,088$354,936
Occupancy$185,135$31,695$12,431$229,261
Pension Plan Contributions$98,490$38,547$21,031$158,068
Depreciation Depletion-$136,196-$136,196
All Other Expenses$76,708$49,365$5,123$131,196
Fees for Services Legal$87,077$42,000-$129,077
Office Expenses$87,877$19,366$9,848$117,091
Fees for Services Accounting$10,844$32,001-$42,845
Fees for Services Lobbying$33,200--$33,200
Fees for Services Professional Fundraising--$15,000$15,000
Information Technology$7,073--$7,073
Advertising$2,086$125-$2,211
Total Functional Expenses$24,814,171$2,209,673$863,334$27,887,178

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$27,887,178
Total Expenses per Audited Statements$27,887,178
Total Expenses per Form 990$27,887,178
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Urban Alliance FoundationWashington, DC501(c)(3)Careerbound Pilot$1,999,530
U of Md Medicine FoundationBaltimore, MD501(c)(3)Careerbound Pilot$660,050
Towson University R24Towson, MDGovernmentPrincipal Pipeline$294,832
Operation Warm IncGlen Mills, PA501(c)(3)Winter Coats Program$279,400
Morgan State UniversityBaltimore, MD501(c)(3)Principal Pipeline$220,692
Elev8 Baltimore IncBaltimore, MD501(c)(3)Summer Programming$175,000
B-360 Baltimore IncBaltimore, MD501(c)(3)Summer Funding, Education Prgmng$155,950
The Be OrgBaltimore, MD501(c)(3)Education Programming$138,500
Team of We HappyvilleBaltimore, MD501(c)(3)Summer Programming$102,476
Lets Thrive BaltimoreBaltimore, MD501(c)(3)Summer Programming$85,750
St Vincent De Paul of BaltBaltimore, MD501(c)(3)Middle Grades Partnership$80,000
Corner Team IncBaltimore, MD501(c)(3)Summer Programming$73,002
No Boundaries CoalitionBaltimore, MD501(c)(3)Summer Programming$67,083
Bryn Mawr SchoolBaltimore, MD501(c)(3)Middle Grades Partnership$66,000
Baltimore Curriculum ProjectBaltimore, MD501(c)(3)Midd Grds P-ship, Heart of Schools$62,500
Maryland Philanthropy NetworkBaltimore, MD501(c)(3)Summer Programming$57,500
Harlem Lacrosse - BaltimoreNew York, NY501(c)(3)Summer Programming$55,012
Maryvale Preparatory Sch IncLutherville, MD501(c)(3)Middle Grades Partnership$55,000
Park SchoolBaltimore, MD501(c)(3)Middle Grades Partnership$55,000
Heartsmiles MdBaltimore, MD501(c)(3)Summer Programming$53,000
Gilman SchoolBaltimore, MD501(c)(3)Middle Grades Partnership$50,000
Art With a HeartBaltimore, MD501(c)(3)Summer Programming$48,182
St Pauls SchoolsBaltimore, MD501(c)(3)Middle Grades Partnership$47,000
The Loyola SchoolBaltimore, MD501(c)(3)Summer Programming$45,519
Active Achievers IncBaltimore, MD501(c)(3)Summer Programming$45,500
The Opportunity Growth CenterBaltimore, MD501(c)(3)Summer Programming$45,000
Wombwork Productions IncBaltimore, MD501(c)(3)Summer Programming$45,000
Natural Born Champions IncBaltimore, MD501(c)(3)Summer Programming$44,467
Aziza Pe&ce IncBaltimore, MD501(c)(3)Summer Programming$42,500
Wide Angle Youth Media IncBaltimore, MD501(c)(3)Summer Programming$38,890
City of Refuge Bmore IncBaltimore, MD501(c)(3)Summer Programming$38,508
One More One Less MentoringTowson, MD501(c)(3)Summer Programming$37,387
Banner Neighborhd Comm CorpBaltimore, MD501(c)(3)Summer Programming$35,000
Casa De Maryland IncLandley Park, MD501(c)(3)Summer Programming$35,000
Cultivating & Embracing ChangBaltimore, MD501(c)(3)Summer Programming$35,000
U of Md BaltimoreBaltimore, MD501(c)(3)Summer Programming$32,500
From Prison Cells to PhdBaltimore, MD501(c)(3)Summer Programming$30,866
Eubie Blake Cultural CenterBaltimore, MD501(c)(3)Summer Programming$30,000
Roland Park Country SchoolBaltimore, MD501(c)(3)Middle Grades Partnership$30,000
Baltimore Outreach ServicesBaltimore, MD501(c)(3)Summer Programming$29,930
Holistic Life Foundation IncBaltimore, MD501(c)(3)Summer Programming$28,452
Backyard Basecamp IncBaltimore, MD501(c)(3)Summer Programming$25,000
City Neighbors FoundationBaltimore, MD501(c)(3)Summer Programming$25,000
Kipp Baltimore IncBaltimore, MD501(c)(3)Summer Programming$25,000
Morgan State U FoundationBaltimore, MD501(c)(3)Summer Programming$25,000
Requity Foundation IncBaltimore, MD501(c)(3)Summer Programming$25,000
The Seed School of MarylandBaltimore, MD501(c)(3)Summer Programming$25,000
Obasi Foundation IncReisterstown, MD501(c)(3)Summer Programming$23,555
Mtm Foundation IncBaltimore, MD501(c)(3)Summer Programming$22,091
Robertas House IncBaltimore, MD501(c)(3)Summer Programming$20,000
Village Learning PlaceBaltimore, MD501(c)(3)Summer Programming$18,116
Fusion Partnerships IncBaltimore, MD501(c)(3)Summer Programming$16,500
Volo Kids FoundationBaltimore, MD501(c)(3)Summer Programming$16,230
Catherines Family & YouthBaltimore, MD501(c)(3)Summer Programming$14,889
Intersection of ChangeBaltimore, MD501(c)(3)Summer Programming$12,500
Parks and People FoundationBaltimore, MD501(c)(3)Summer Programming$11,263
1012 Sports IncBaltimore, MD501(c)(3)Summer Programming$10,000
Beechfield Ele Middle SchoolBaltimore, MD501(c)(3)Summer Programming$10,000
From Prison Cells to Phd IncBaltimore, MDSchoolHeart of the Schools$10,000
Ingenuity Project IncBaltimore, MD501(c)(3)Summer Programming$10,000
Black Girls CookBaltimore, MD501(c)(3)Summer Programming$9,750
Community Law in Action IncBaltimore, MD501(c)(3)Summer Programming$9,500
Missionfit IncBaltimore, MD501(c)(3)Summer Programming$8,620
Rise Arts Ctr of BaltimoreBaltimore, MD501(c)(3)Summer Programming$8,025
SeekBaltimore, MD501(c)(3)Summer Programming$7,677
Belair-edison Elem SchoolBaltimore, MDSchoolHeart of the Schools$7,500
Franklin Square Ele Mid SchlBaltimore, MDSchoolHeart of the Schools$7,500
Sharp Leadenhall Elemid SchlBaltimore, MDSchoolHeart of the Schools$7,500
The Green SchoolBaltimore, MDSchoolHeart of the Schools$7,500
Dallas F Nicholas Sr ElemBaltimore, MDSchoolHeart of the Schools$7,496
Reginald F Lewis High SchoolBaltimore, MDSchoolHeart of the Schools$7,481
Medfield Heights Elem SchoolBaltimore, MDSchoolHeart of the Schools$6,250
Highlandtown Elem Midd SchlBaltimore, MDSchoolHeart of the Schools$6,000
Midtown AcademyBaltimore, MD501(c)(3)Heart of the Schools$5,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$15,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$514,229
Lease Liability - Rou Asset$392,123
Deferred Revenue$16,350
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 tax return is submitted to the board for approval prior to filing.

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

Any board member, employee, or volunteer shall promptly report in writing to their appropriate supervisor (or, in the case of a board member, to the president of the board) any actual or contemplated transaction which may involve a conflict of interest. Each board member, employee and volunteer shall complete a questionnaire relating to this policy upon association with the fund for educational excellence and thereafter when changes occur or upon request.

Form 990, Part VI, Section B, Line 15A

The compensation arrangements must be approved in advance, before any payment is made, by the approval body of the fund composed entirely of individuals who do not have a conflict of interest with respect to the compensation arrangements. When the approval body is considering compensation to covered individuals, it must rely on comparable data that demonstrates the fair market value of the compenstation in question.

Form 990, Part VI, Section C, Line 19

Tax returns can be found on a variety of public websites and the fund provides all of the mentioned documents to the public upon request.

Filing and Contact Details

Filer

Filer Name
Fund for Educational Excellence Inc
EIN
52-1129402
Phone
4106858300
Address
800 NORTH CHARLES STREET 400, BALTIMORE, MD 21201

Signing Officer

Name
Chuck Adkins
Title
CFO
Signed
2026-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roger Schulman
Formed
1984
Legal Domicile
Md
Voting Board Members
18
Independent Board Members
17
Employees
134

Preparer

Firm
Port Kashdin & McSherry CPAs
Address
3535 West Rd, Cortland, NY 13045
Preparer
Christopher Guay
Phone
6077565681
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

The permanent endowment consists of one donor restricted fund established to provide a source of income to recognize teacher achievement.

Part X : FIN48 Footnote

The fund is exempt from income taxes under section 501(c)(3) of the internal revenue code and is classified by the internal revenue service as an organization that is not a private foundation. Accordingly, no provision for income taxes is made in the financial statements. The fund follows the provisions of accounting for uncertainty in income taxes under the income taxes topic of the codification. The codification requires the evaluation of tax positions, which includes maintaining its tax-exempt status and the taxability of any unrelated business income, and does not allow recognition of tax positions which do not meet a "more-likely-than-not" threshold of being sustained by the applicable tax authority. Management does not believe it has taken any tax positions that would not meet this threshold. The organization's tax returns are subject to possible federal examination, generally for threee years after they are filed.

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IRS990/MissionDesc0WE EXPAND RESOURCES, IDENTIFY AND ACCELERATE SOLUTIONS, AND RECOGNIZE EXCELLENCE SO THAT ALL CHILDREN IN BALTIMORE CITY PUBLIC SCHOOLS EXPERIENCE AN EFFECTIVE AND ADEQUATE EDUCATION.
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