Core Philly Charitable Trust 2098-00-11
Nonprofit profile at a glance
- EIN
- 256902295
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Philadelphia, PA, USA
- Phone
- 2154196000
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $783,533
- Expenses
- $267,208
- Assets
- $5,363,715
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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
What it reported doing in 2024
Phila college opportunity
Operating model
- Revenue model
- Investment-supported. 60% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 93
- Accountability: 30
- Sustainability: 89
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 94.4%; rating input score 94
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Limited
- Other executive compensation review process: Limited
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 65.9%; rating input score 96; 96th percentile among comparable filings
- Total-asset coverage ratio: 20.07; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: 7.7%; rating input score 45; 45th percentile among comparable filings
Growth
- Program expense growth: 1.7% per year; rating input score 100; 25th percentile among comparable filings
- Revenue growth: 28.7% per year; rating input score 100; 91st percentile among comparable filings
- Asset growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 94.4% of spending went to programs
- Governance: 0 of 1 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $252K in reported program spending
- Leadership: top reported pay $21K · 1 people listed
- Consistency: 13 of 13 current checks pass
- Schedules: 5 filed schedules · includes grants
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Officer compensation ratio scored 45/100.