philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

The PHD Project Association FY2020 filing

Tax-deductible

Ramsey, NJ501(c)(3)Since 2005Civil Rights & AdvocacyEIN 20-2610773

This page gets seen. Tell your story. Claim this org.

To expand the pool of workplace talent by developing business school faculty who encourage, mentor and support tomorrow's leaders.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $111K a year · 5% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $224K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$77K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
Spent
$2.7M
To programs
79%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$1.6M
FY2020
Revenue by fiscal year
FY2020$1.6M
FY2021$2.9M
FY2022$1.4M
FY2023$2.0M
FY2024$3.5M
FY2024$1.5M
Expenses
$2.7M
FY2020
Expenses by fiscal year
FY2020$2.7M
FY2021$1.3M
FY2022$2.1M
FY2023$3.1M
FY2024$2.7M
FY2024$2.8M
Net assets
$1.6M
FY2020
Net assets by fiscal year
FY2020$1.6M
FY2021$3.2M
FY2022$2.5M
FY2023$1.3M
FY2024$2.2M
FY2024$894K

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $2.2M Management & general 10% · $278K Fundraising 11% · $312K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

23 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Kim Drumgo
Chair, Thru 1/2020
$0Pt VII · Sec A
$0Pt VII · Sec A
Blane Ruschak
President
$0Pt VII · Sec A
Bernard Milano
President, Thru 12/2019
$0Pt VII · Sec A
$0Pt VII · Sec A
David Evans
Board Member
$0Pt VII · Sec A
Florence Holland
Board Member
$0Pt VII · Sec A
See The PHD Project Association executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps underrepresented groups become business professors to diversify corporate America.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $2.2M · in their own filed words · FY2019
01

The PHD project is a systemic diversity initiative that encourages BLACK/AFRICAN americans, LATINX/HISPANIC americans and native americans to pursue PH.D.'S in business, creating role models and mentors that attract and encourage minority business students resulting in a more diverse talent pool.

$2.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Aacsb International - the Association to Advance Collegiate Schools of BusinessFY2024$100K
Graduate Management Admission CouncilFY2024$75K
Moss Adams FoundationFY2024$25K
Association of International Certified Professional AccountantsFY2024$12K
American Marketing Association INCFY2024$12K
Total grants receivedfrom 5 funders$224K
See all 5 funders →
Grants paid · 7 grants · $804K · 2019–2021
Unitemized GrantFY2021$10,000
Unitemized GrantFY2021$1,000
Unitemized GrantFY2021$448
Unitemized GrantFY2020$10,000
Unitemized GrantFY2020$2,000
Unitemized GrantFY2020$600
Unitemized GrantFY2019$780,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.7M
Money outPt IX
$2.7M
Ln 25
Programscol B$2.2M
Managementcol C$278K
Fundraisingcol D$312K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$458K
Total assetsLn 16$1.7M
LiabilitiesLn 26$77K
PeoplePt VI, VII
23
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Fundraising eventsLn 1c$130K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$458K
Cash and savings togetherLn 1–2$458K
Total assetsLn 16$1.7M
LiabilitiesLn 26$77K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6117
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$999K$458K
Total assetsLn 16$2.8M$1.7M
LiabilitiesLn 26$46K$77K
Net assetsLn 32$2.7M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$780K$780K
Accounting feesLn 11c$34K$34K
Other fees for servicesLn 11g$163K$115K$21K$28K
Advertising and promotionLn 12$104K$95K$9K
Office expensesLn 13$17K$17K
Information technologyLn 14$18K$18K
Conferences, conventions and meetingsLn 19$815K$811K$1K$2K
Other expenses (24a–d)Ln 24$810K$352K$186K$272K
Total functional expensesLn 25$2.7M$2.2M$278K$312K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $3.5M$2.7M$833K$2.2M 990 PDF
FY2023 $2.0M$3.1M−$1.1M$1.3M 990 PDF
FY2022 $1.4M$2.1M−$684K$2.5M 990 PDF
FY2021 $2.9M$1.3M$1.6M$3.2M 990 PDF
FY2020 Viewing $1.6M$2.7M−$1.1M$1.6M 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (5 parts)
Part I · Summary $1,600,197 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,435,867$1,653,825
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0−$53,628
I-12 Total revenuePrior year $2,435,867$1,600,197
I-13 Grants and similar amounts paidPrior year $783,000$780,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,836,726$1,962,114
I-18 Total expensesPrior year $2,619,726$2,742,114
I-19 Revenue less expensesPrior year −$183,859−$1,141,917
Part VIII · Statement of revenue $1,600,197 across 5 lines filed
VIII-1c Fundraising events$130,260
VIII-1f All other contributions, gifts and grants$1,523,565
VIII-1h Total contributions, gifts and grants$1,653,825
VIII-8 Net income from fundraising eventsExcluded from tax −$53,628−$53,628
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$53,628$1,600,197
Part IX · Statement of functional expenses $2,742,114 across 8 lines filed
IX-2 Grants to domestic individualsPrograms $780,000$780,000
IX-11c Accounting feesManagement $34,075$34,075
IX-11g Other fees for servicesPrograms $114,821 · Management $20,878 · Fundraising $27,758$163,457
IX-12 Advertising and promotionPrograms $94,851 · Fundraising $9,487$104,338
IX-13 Office expensesManagement $17,145$17,145
IX-14 Information technologyManagement $18,500$18,500
IX-19 Conferences, conventions and meetingsPrograms $811,270 · Management $1,000 · Fundraising $2,368$814,638
IX-24 Other expenses (24a–d)Programs $351,890 · Management $186,032 · Fundraising $272,039$809,961
IX-25 Total functional expensesPrograms $2,152,832 · Management $277,630 · Fundraising $311,652$2,742,114
Part X · Balance sheet $1,673,179 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $999,456$458,472
X-3 Pledges and grants receivableStart of year $1,785,292$1,214,707
X-16 Total assetsStart of year $2,784,748$1,673,179
X-17 Accounts payable and accrued expensesStart of year $36,398$76,746
X-26 Total liabilitiesStart of year $46,398$76,746
X-27 Net assets without donor restrictionsStart of year $458,851$260,434
X-28 Net assets with donor restrictionsStart of year $2,279,499$1,335,999
X-32 Total net assets or fund balancesStart of year $2,738,350$1,596,433
X-33 Total liabilities and net assetsStart of year $2,784,748$1,673,179
Part XI · Reconciliation of net assets $1,596,433 net assets at year end
XI-1 Total revenue$1,600,197
XI-2 Total expenses$2,742,114
XI-3 Revenue less expenses−$1,141,917
XI-4 Net assets at start of year$2,738,350
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,596,433

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.