Peirce College FY2023 filing

Philadelphia, PAHigher education institutionSince 1963 EIN 23-1627436Revenue $17.2M in FY2023

On file with the IRSpeirce.edu1420 Pine Street · Philadelphia, PA

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84¢ of each $1 spent went to programs.
$2.6M paid to officers and key staff.
Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $903K a year · 4% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.6M
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $24.8M in investments, Pt X · Ln 11–13
Fine: 0.2 months of spending in cash, plus $24.8M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $147K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$9.6M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.2M
-22% vs prior year
Spent
$21.0M
To programs
84%
Net assets
$28.5M
By yearFY2020–FY2025
Revenue
$17.2M
FY2023▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2020$23.1M
FY2021$22.2M
FY2022$22.1M
FY2023$17.2M
FY2024$22.0M
FY2025$21.0M
Expenses
$21.0M
FY2023▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$23.8M
FY2021$21.4M
FY2022$22.4M
FY2023$21.0M
FY2024$21.7M
FY2025$22.5M
Net assets
$28.5M
FY2023▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$31.4M
FY2021$37.0M
FY2022$31.2M
FY2023$28.5M
FY2024$29.0M
FY2025$0

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $17.7M Management & general 14% · $3.0M Fundraising 2% · $330K

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

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Who runs it and what they're paid

26 people listed on the 990; $2.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President and CEO
$757,307Pt VII · Sec A
VP Finance/Admin & Treasurer
$252,215Pt VII · Sec A
Provost & VP Academic Affairs
$245,082Pt VII · Sec A
VP Marketing/Communications
$233,955Pt VII · Sec A
VP Enroll/Student Services
$174,654Pt VII · Sec A
Avp Human Resources/Chief Dei Officer
$153,507Pt VII · Sec A
Dean of Graduate Studies
$145,707Pt VII · Sec A
Chief Information Officer
$144,306Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Mary Ellen Caro$458,583$478,394$757,307$446,524$441,000$402,595
Elizabeth M Krapp$191,673$224,494$252,215$198,774$193,878$186,145
Dr Rita Toliver-Roberts$205,653$223,202$245,082$189,390$194,787$186,624
Joseph Guzzardo$184,801$208,557$233,955$178,172$181,169$176,943
Brad Hodge$187,723$200,010$174,654$170,420$169,150—
Janet Eickhoff————$147,562$180,436
Brad K Hodge—————$167,360
Carrie Robinson$138,854$157,493$153,507$147,613——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Offers career-focused degrees for adult learners.

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Provided by the organization

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1 program · $17.7M · in their own filed words · FY2022
01

See schedule o

$17.7Mprogram 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
See all 5 funders →
Grants paid · 28 grants · $35.5M · 2019–2024
Unitemized GrantFY2024$2,802,173
Unitemized GrantFY2024$2,533,137
Unitemized GrantFY2024$774,162
Unitemized GrantFY2024$202,961
Unitemized GrantFY2023$2,224,646
Unitemized GrantFY2023$2,092,924
Unitemized GrantFY2023$817,396
Unitemized GrantFY2023$219,932
Unitemized GrantFY2022$1,939,339
Unitemized GrantFY2022$1,858,610
Unitemized GrantFY2022$895,200
Unitemized GrantFY2022$357,329
Unitemized GrantFY2021$2,082,008
Unitemized GrantFY2021$1,828,418
Unitemized GrantFY2021$1,739,144
Unitemized GrantFY2021$823,660
Unitemized GrantFY2020$2,400,072
Unitemized GrantFY2020$1,465,646
See all 28 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$17.2M
Ln 12
Fees for servicesLn 2g$10.7M
Gifts and grantsLn 1h$5.0M
Investment incomeLn 3$1.3M
Money outPt IX
$21.0M
Ln 25
Programscol B$17.7M
Managementcol C$3.0M
Fundraisingcol D$330K
Owns and owesPt X
$28.5M
net assets · Ln 32
Cash and savingsLn 1–2$324K
Total assetsLn 16$38.0M
LiabilitiesLn 26$9.6M
PeoplePt VI, VII
26
listed · VII A
PaidVII A12
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.0M
Government grantsLn 1e$4.6M
Fees for servicesLn 2g$10.7M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$225K
Gains on assetsLn 7$666K
Total revenueLn 12$17.2M
Assets in detailPt X, end of year
CashLn 1$322K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$324K
InvestmentsLn 11–13$24.8M
Land, buildings, equipmentLn 10c$7.8M
Other assetsLn 15$3.3M
Total assetsLn 16$38.0M
LiabilitiesLn 26$9.6M
Net assetsLn 32$28.5M
OperationsPt I, VI
EmployeesI 5281
VolunteersI 613
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$561K$324K
InvestmentsLn 11–13$24.5M$24.8M
Land, buildings, equipmentLn 10c$8.1M$7.8M
Total assetsLn 16$35.1M$38.0M
LiabilitiesLn 26$3.9M$9.6M
Net assetsLn 32$31.2M$28.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$5.1M$5.1M
Pay of current officers, directors and key staffLn 5$1.6M$1.1M$436K$22K
Other salaries and wagesLn 7$6.8M$5.9M$880K$36K
Pension plan contributionsLn 8$388K$311K$61K$16K
Other employee benefitsLn 9$1.2M$885K$267K$47K
Payroll taxesLn 10$560K$483K$74K$3K
Legal feesLn 11b$90K$90K
Accounting feesLn 11c$143K$143K
Lobbying feesLn 11d$65K$65K
Investment management feesLn 11f$52K$52K
Other fees for servicesLn 11g$1.1M$802K$228K$59K
Advertising and promotionLn 12$843K$843K
Office expensesLn 13$177K$169K$8K$87
Information technologyLn 14$946K$857K$61K$28K
OccupancyLn 16$522K$473K$33K$16K
TravelLn 17$17K$16K$5$670
Conferences, conventions and meetingsLn 19$24K$22K$1K$100
InterestLn 20$231K$231K
Depreciation, depletion and amortizationLn 22$635K$575K$41K$19K
InsuranceLn 23$177K$177K
Other expenses (24a–d)Ln 24$394K$69K$241K$84K
Total functional expensesLn 25$21.0M$17.7M$3.0M$330K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $21.0M$22.5M−$1.5M$0 990 PDF
FY2024 $22.0M$21.7M$252K$29.0M 990 PDF
FY2023 Viewing $17.2M$21.0M−$3.8M$28.5M 990 PDF
FY2022 $22.1M$22.4M−$336K$31.2M 990 PDF
FY2021 $22.2M$21.4M$756K$37.0M 990 PDF
FY2020 $23.1M$23.8M−$754K$31.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $17,189,414 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,244,953$4,997,951
I-9 Program service revenuePrior year $11,908,138$10,666,776
I-10 Investment incomePrior year $1,511,430$1,299,733
I-11 Other revenuePrior year $390,019$224,954
I-12 Total revenuePrior year $22,054,540$17,189,414
I-13 Grants and similar amounts paidPrior year $6,473,230$5,050,478
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,864,226$10,555,799
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,052,966$5,404,376
I-18 Total expensesPrior year $22,390,422$21,010,653
I-19 Revenue less expensesPrior year −$335,882−$3,821,239
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $17,189,414 across 8 lines filed
VIII-1e Government grants$4,632,027
VIII-1f All other contributions, gifts and grants$365,924
VIII-1h Total contributions, gifts and grants$4,997,951
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,666,776$10,666,776
VIII-3 Investment incomeExcluded from tax $633,395$633,395
VIII-7 Net gain or loss on sales of assetsExcluded from tax $666,338$666,338
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $224,954$224,954
VIII-12 Total revenueRelated to mission $10,666,776 · Unrelated business $0 · Excluded from tax $1,524,687$17,189,414
Part IX · Statement of functional expenses $21,010,653 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $5,050,478$5,050,478
IX-5 Pay of current officers, directors and key staffPrograms $1,123,553 · Management $435,670 · Fundraising $21,523$1,580,746
IX-7 Other salaries and wagesPrograms $5,912,642 · Management $879,613 · Fundraising $35,724$6,827,979
IX-8 Pension plan contributionsPrograms $310,610 · Management $61,422 · Fundraising $16,002$388,034
IX-9 Other employee benefitsPrograms $885,087 · Management $267,171 · Fundraising $47,119$1,199,377
IX-10 Payroll taxesPrograms $482,758 · Management $74,130 · Fundraising $2,775$559,663
IX-11b Legal feesManagement $89,745$89,745
IX-11c Accounting feesManagement $142,601$142,601
IX-11d Lobbying feesPrograms $65,000$65,000
IX-11f Investment management feesManagement $51,683$51,683
IX-11g Other fees for servicesPrograms $802,182 · Management $228,065 · Fundraising $58,848$1,089,095
IX-12 Advertising and promotionPrograms $843,260$843,260
IX-13 Office expensesPrograms $168,624 · Management $8,118 · Fundraising $87$176,829
IX-14 Information technologyPrograms $857,345 · Management $60,563 · Fundraising $28,388$946,296
IX-16 OccupancyPrograms $473,314 · Management $33,435 · Fundraising $15,672$522,421
IX-17 TravelPrograms $15,920 · Management $5 · Fundraising $670$16,595
IX-19 Conferences, conventions and meetingsPrograms $22,400 · Management $1,278 · Fundraising $100$23,778
IX-20 InterestManagement $230,903$230,903
IX-22 Depreciation, depletion and amortizationPrograms $574,964 · Management $40,616 · Fundraising $19,039$634,619
IX-23 InsuranceManagement $177,360$177,360
IX-24 Other expenses (24a–d)Programs $69,475 · Management $241,005 · Fundraising $83,711$394,191
IX-25 Total functional expensesPrograms $17,657,612 · Management $3,023,383 · Fundraising $329,658$21,010,653
Part X · Balance sheet $38,047,512 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $555,925$322,308
X-2 Savings and temporary cash investmentsStart of year $4,622$2,071
X-3 Pledges and grants receivableStart of year $802,111$537,696
X-4 Accounts receivableStart of year $675,145$776,327
X-9 Prepaid expenses and deferred chargesStart of year $376,671$462,205
X-10c Land, buildings and equipment, netStart of year $8,131,845$7,753,135
X-11 Publicly traded securitiesStart of year $24,489,021$24,786,058
X-12 Other securitiesStart of year $59,416$61,860
X-13 Program-related investmentsStart of year $0$0
X-15 Other assetsStart of year $0$3,345,852
X-16 Total assetsStart of year $35,094,756$38,047,512
X-17 Accounts payable and accrued expensesStart of year $1,033,094$745,750
X-19 Deferred revenueStart of year $170,815$173,551
X-24 Unsecured notes and loans payableStart of year $250,000$3,500,000
X-25 Other liabilitiesStart of year $0$2,824,003
X-26 Total liabilitiesStart of year $3,933,006$9,579,068
X-27 Net assets without donor restrictionsStart of year $27,489,205$24,848,866
X-28 Net assets with donor restrictionsStart of year $3,672,545$3,619,578
X-32 Total net assets or fund balancesStart of year $31,161,750$28,468,444
X-33 Total liabilities and net assetsStart of year $35,094,756$38,047,512
Part XI · Reconciliation of net assets $28,468,444 net assets at year end
XI-1 Total revenue$17,189,414
XI-2 Total expenses$21,010,653
XI-3 Revenue less expenses−$3,821,239
XI-4 Net assets at start of year$31,161,750
XI-5 Net unrealized gains (losses) on investments$1,127,933
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$28,468,444

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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