Core Philly Charitable Trust 2098-00-11

Tax-deductible

Philadelphia, PA501(c)(3)EducationEIN 25-6902295Revenue $967K in FY2024

On file with the IRSC/O Glenmede 1650 Market St Ste, 19103-0000 · Philadelphia, PATax-exempt since Jun 2007Publicly supported charity — 170(b)(1)(A)(vi)

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The purpose of Core Philly Charitable Trust is to raise funds in form of an endowment for the long-term support of a program to provide college scholarships to graduating, resident students of philadelphia public, parochial and private high schools. The program is intended to be broad based and to focus upon funding which most students face, I.e. The deficiency between the aggregate educational costs and the funds which are otherwise available from the student, his family and institutional and governmental programs. The philadelphia public and parochial schools and its private schools contain a tremendous number of students of lower middle income for whom this fund "gap" exists. That need will be the primary criteria for the award or scholarships in the scholarship program. The Trust anticipates accomplishing its purpose by making contributions to philadelhia college opportunity resources for education ("Core Philly"), which is an exempt pennsylvania nonprofit corporation which present

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$21K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $145K a year · 37% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$21K
to officers and key staff · 8% of spending
Top officer’s pay lower than 85% of similar orgs
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 1 voting members
Concern: none of 1 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$967K
+229% vs prior year
Spent
$267K
To programs
94%
Net assets
$4.9M
By yearFY2020–FY2024
Revenue
$967K
FY2024▲ +229%
Tap a bar for its year
Revenue by fiscal year
FY2020$86K
FY2021$372K
FY2022$260K
FY2023$294K
FY2024$967K
Expenses
$267K
FY2024▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$234K
FY2021$240K
FY2022$254K
FY2023$261K
FY2024$267K
Net assets
$4.9M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.5M
FY2021$4.7M
FY2022$4.7M
FY2023$4.7M
FY2024$4.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2007.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $252K Management & general 6% · $15K

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

1 person listed on the 990; $21K paid to officers and key staff.

Part VII, Section A · reportable compensation
$20,604Pt VII · Sec A

The Glenmede Trust Company NA’s $21K as Trustee is at the 15th percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
The Glenmede Trust Company NA$20,604$19,859$20,900$22,861$18,714

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.

See Core Philly Charitable Trust 2098-00-11 executive salaries →

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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 15aNo

Programs and updates

Provides college scholarships to Philadelphia high school graduates facing funding gaps.

Questions for Core Philly Charitable Trust 2098-00-11

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Provided by the organization

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1 program · $252K · in their own filed words · FY2024
01

Phila college opportunity

$252Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $1.1M · 2020–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$967K
Ln 12
Investment incomeLn 3$685K
Other incomeLn 4–11$281K
Money outPt IX
$267K
Ln 25
Programscol B$252K
Managementcol C$15K
Owns and owesPt X
$4.9M
net assets · Ln 32
Cash and savingsLn 1–2$241K
Total assetsLn 16$4.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A1
Voting boardVI 1a1
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$685K
Other incomeLn 4–11$281K
Gains on assetsLn 7$538K
Total revenueLn 12$967K
Assets in detailPt X, end of year
CashLn 1$3
SavingsLn 2$241K
Cash and savings togetherLn 1–2$241K
InvestmentsLn 11–13$5.1M
Total assetsLn 16$4.9M
LiabilitiesLn 26$0
Net assetsLn 32$4.9M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$237K$241K
InvestmentsLn 11–13$4.5M$5.1M
Total assetsLn 16$4.7M$5.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$4.7M$5.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$241K$241K
Investment management feesLn 11f$23K$11K$11K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$267K$252K$15K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $967K$267K$699K$4.9M 990 PDF
FY2023 $294K$261K$32K$4.7M 990 PDF
FY2022 $260K$254K$6K$4.7M 990 PDF
FY2021 $372K$240K$132K$4.7M 990 PDF
FY2020 $86K$234K−$147K$4.5M 990 PDF

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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 FY2024 990 (6 parts)
Part I · Summary $783,533 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $106,185$685,305
I-11 Other revenuePrior year $187,479$98,228
I-12 Total revenuePrior year $293,664$783,533
I-13 Grants and similar amounts paidPrior year $241,431$240,851
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $19,858$0
I-16a Professional fundraising fees$0
I-17 Other expenses$26,357
I-18 Total expensesPrior year $261,289$267,208
I-19 Revenue less expensesPrior year $32,375$516,325
Part VI · Governance 0 of 1 board members independent, 1 to look at
VI-1a Voting members of the governing body1
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $783,533 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $147,485$147,485
VIII-7 Net gain or loss on sales of assetsExcluded from tax $537,820$537,820
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $9,907 · Excluded from tax $88,321$98,228
VIII-12 Total revenueUnrelated business $9,907 · Excluded from tax $773,626$783,533
Part IX · Statement of functional expenses $267,208 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $240,851$240,851
IX-11f Investment management feesPrograms $11,302 · Management $11,302$22,604
IX-24 Other expenses (24a–d)Management $3,753$3,753
IX-25 Total functional expensesPrograms $252,153 · Management $15,055 · Fundraising $0$267,208
Part X · Balance sheet $5,363,715 assets, 8 lines filed
X-1 Cash, non-interest-bearing$3
X-2 Savings and temporary cash investmentsStart of year $236,699$240,687
X-11 Publicly traded securitiesStart of year $3,576,003$3,942,220
X-12 Other securitiesStart of year $877,497$1,180,805
X-16 Total assetsStart of year $4,690,199$5,363,715
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $4,690,199$5,363,715
X-33 Total liabilities and net assetsStart of year $4,690,199$5,363,715
Part XI · Reconciliation of net assets $5,363,715 net assets at year end
XI-1 Total revenue$783,533
XI-2 Total expenses$267,208
XI-3 Revenue less expenses$516,325
XI-4 Net assets at start of year$4,690,199
XI-9 Other changes in net assets$157,191
XI-10 Net assets at end of year$5,363,715

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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