The Corporation for Penn State

Nonprofit profile at a glance

EIN
251500292
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
University Park, PA, USA
Phone
8148650953
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$8,823
Expenses
$8,859
Assets
$5,566
Liabilities
$5,071

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • Neeli Bendapudi (President)
  • Tracey L Langkilde (Interim Vice President)
  • Justin Schwartz (Former Vice President)
  • Eric Barron (Former President)
  • Nicholas Jones (Former Vice President)

Highest reported compensation

  • Neeli Bendapudi (President): $1,629,217 total reported compensation
  • Sara F Thorndike (Treasurer): $670,435 total reported compensation
  • Tracey L Langkilde (Interim Vice President): $568,663 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Corporation for Penn State is organized for the exclusive purpose of benefiting and promoting the interests of The Pennsylvania State University.

What it reported doing in 2024

Holding assets and general support for the benefit of The Pennsylvania State University.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

REVIEW - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 64
  • Accountability: 79
  • Sustainability: 32
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 63.6%; rating input score 64; 21st percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.4%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4,181.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 39th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.6M · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 26 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.