Overview
What is Pennsylvania's State System Of Higher Education Foundation?
Pennsylvania's State System Of Higher Education Foundation is a nonprofit organization dedicated to supporting student success and university excellence within the state's higher education system. Their primary mission is to secure and manage funds for scholarships, providing financial aid to students attending the 10 universities under Pennsylvania's State System of Higher Education. During the 2022-23 fiscal year, the foundation awarded 567 scholarships totaling $829,117, helping to improve access to and affordability of higher education. The foundation's scholarship program reduces the cost burden of post-secondary education and student loan debt for a significant number of students, many of whom come from low-income households or are the first generation in their families to attend college. By supporting students, the foundation contributes to Pennsylvania's economic vitality, with ten years after graduation showing that a majority of low-income students have achieved economic mobility and remain employed in the state. The foundation generates private sector support and engages in various activities to advance Pennsylvania's State System of Higher Education.
Official website here: www.thepafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 95%
The Pennsylvania State System Of Higher Education Foundation has earned a Four-Star out of Four Star rating from Charity Navigator, reflecting its strong performance in both accountability and finance, as well as culture and community aspects. With an impressive overall score of 95%, the foundation demonstrates a commitment to transparency and effective financial management, as indicated by its high program expense ratio and fundraising efficiency.
The organization boasts a fully independent board, which adds to its credibility and governance strength. It has successfully implemented robust policies for oversight and accountability, scoring perfectly on various operational metrics such as conflict of interest and feedback collection. The foundation also demonstrates a solid commitment to equity, showcasing comprehensive data, policies, and processes.
While the foundation shows remarkable strengths, the data suggests a continual need for transparency and community engagement to maintain its high standards. Overall, the Pennsylvania State System Of Higher Education Foundation exemplifies effective nonprofit management and a strong commitment to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Pennsylvania's State System Of Higher Education Foundation legitimate?
Pennsylvania's State System Of Higher Education Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pennsylvania's State System Of Higher Education Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $91,195
Professional Fundraising Fees: $0
Other Salaries and Wages: $201,931
For more financial information, click here
Official website here: www.thepafoundation.org
What is the mission statement of Pennsylvania's State System Of Higher Education Foundation?
The Pennsylvania's State System of Higher Education Foundation's mission is to support the educational mission and activities of the state's higher education system by generating private sector support and engaging in various activities to advance the system. The primary objective of the foundation is to enhance student success and university excellence. To achieve this, they secure and manage funding for scholarships, providing financial aid to students attending the 10 universities in the state system. During the 2022-23 fiscal year, they awarded 567 scholarships totaling $829,117, improving access to and affordability of higher education. This, in turn, helps students persist through to graduation and attain a degree. A significant portion of the state system's students come from low-income households and are the first generation in their families to attend college. The foundation's scholarship program not only reduces the cost burden of post-secondary education but also reduces the students' subsequent student loan debt. Graduates of these state system universities contribute to Pennsylvania's economic vitality, with many moving into the middle class and achieving economic mobility.
Official website here: www.thepafoundation.org
Who is the CEO of Pennsylvania's State System Of Higher Education Foundation?
Scherer Shelley is the Chair of Pennsylvania's State System Of Higher Education Foundation.
Official website here: www.thepafoundation.org
What is the revenue of Pennsylvania's State System Of Higher Education Foundation?
Pennsylvania's State System Of Higher Education Foundation's revenue in 2023 was $2,493,469.
Official website here: www.thepafoundation.org
Who are the executives of Pennsylvania's State System Of Higher Education Foundation and what are their salaries?
The average compensation at Pennsylvania's State System Of Higher Education Foundation during 2023 was $73,282. There are 4 employees and 17 volunteers at Pennsylvania's State System Of Higher Education Foundation.
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Official website here: www.thepafoundation.org
Where can I find the form 990 for Pennsylvania's State System Of Higher Education Foundation?
Pennsylvania's State System Of Higher Education Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thepafoundation.org
Learn more at the official website: www.thepafoundation.org
Mission Statement of Pennsylvania's State System Of Higher Education Foundation
Pennsylvania's State System of Higher Education Foundation's mission is centered around supporting the educational mission and activities of the state's higher education system. The foundation aims to achieve this goal by generating private sector support and engaging in various activities to advance the system. Specifically, the foundation focuses on securing and managing scholarships for students attending the 10 universities within Pennsylvania's State System of Higher Education.
During the 2022-23 fiscal year, the foundation awarded 567 scholarships totaling $829,117. These scholarships are designed to be need-based, industry-focused, and academically competitive, thereby improving access to and affordability of higher education. By reducing the cost burden of post-secondary education and student loan debt, these scholarships enable students to persist through to graduation and obtain a degree.
Furthermore, a significant portion of the state system's students come from low-income households and are the first generation in their families to attend college. The foundation's scholarship program plays a crucial role in providing these students with the financial assistance they need to pursue higher education, ultimately contributing to their economic mobility and success. Ten years after graduation, 75% of low-income students have moved into the middle class, and 63% remain working in Pennsylvania, fueling the state's economic vitality.
In summary, Pennsylvania's State System of Higher Education Foundation's mission revolves around supporting student success and university excellence by generating private sector support and offering scholarships to students attending the state's higher education system. The foundation's scholarships aim to reduce the cost burden of higher education, thereby improving access and affordability, and ultimately contributing to students' academic and economic success.
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Impact
October, 2024
Pennsylvania's State System of Higher Education Foundation significantly enhances student success and university excellence across the state's college system. By generating private sector support, the Foundation plays a vital role in improving access to higher education, especially for students from low-income households and first-generation college attendees.
During the 2022-23 fiscal year, the Foundation awarded 567 scholarships totaling over $829,000, making substantial strides in alleviating the financial burden of higher education. This not only helps students reduce their loan debt but also enhances their ability to persist through to graduation, increasing their chances of obtaining a degree. Research shows that ten years after graduation, 75% of low-income students have transitioned into the middle class, indicating that these scholarships contribute to significant economic mobility. Moreover, 63% of graduates remain in Pennsylvania, fueling the state’s economic vitality.
The Foundation’s focus on need-based and academically competitive scholarships fosters an environment where students are not only able to pursue their education but can also thrive, ultimately benefiting both their communities and the state as a whole.
This information is meant to be a general summary of Pennsylvania's State System Of Higher Education Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $114,560
- Program Service Revenue: $216,000
- Gross Receipts: $2,526,142
Assets and Liabilities:
- Total Assets: $10,933,847
- Total Liabilities: $4,588,188
- Net Assets: $6,345,659
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PASSHE SPC
Revenue
$216,000
Organization Details
Founding Year
1985
Phone
(717) 720-4056Principal Officer
Scherer Shelley
Main Address
100 NOBLE BLVD STE 10 1014, CARLISLE, PA, 17013
Website
www.thepafoundation.orgNTEE Category
Code: B12 - Education
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