The Paterson Education Foundation Inc

Nonprofit profile at a glance

EIN
222464316
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Paterson, NJ, USA
Phone
9738818914
Rating
90
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$860,442
Expenses
$1,038,004
Assets
$199,960
Liabilities
$70,436

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

Leadership & pay

8 people listed

Executive titles in this filing

  • PERRY LIGHTY (PRESIDENT)
  • ROSEMARIE GRANT (EXECUTIVE DIRECTOR & CEO)

Highest reported compensation

  • ROSEMARIE GRANT (EXECUTIVE DIRECTOR & CEO): $89,487 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 paterson education fund (pef) is a not-for-profit organization whose mission is to stimulate community action for change so that the paterson public schools ensure that all paterson children achieve high standards.pef's goals are: to build our community's civic capacity to support, monitor and advocate education reform.to educate and enable community leadership to understand and act on changing education needs.to provide a forum for the community to effectively participate in the decision-making processes concerning education.founded in 1983, pef's activities build and nourish a constituency for systematic school reform by educating the community on the importance of high standards and expectations in providing quality education for all children. Pef convenes and brokers relationships between the paterson school district and private sector entities interested in public education in paterson.

What it reported doing in 2024

The nita m. Lowey 21st century community learning centers (21st cclc): pef operates 21st century community learning centers in two schools, providing after-school and summer tutoring, academic enrichment, cultural, artistic, and social and emotional wellbeing opportunities. The programs are steam based and use inquiry-based learning to fully engage students in their own growth and development. The program began in october 2020 and serves 151 students in grades 3 through 8. Programs support: academic enrichment activities that can help students meet state and local achievement standards.a broad array of additional enrichment services designed to reinforce and complement the regular academic program, such as: drug and violence prevention programs, career and technical programs, counseling programs, art, music programs, stem programs, and physical activity and nutrition education programs.literacy and related educational development services to the families of children who are served in the program.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 90% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 14
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.9%; rating input score 88
  • Fundraising efficiency: $111.16 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20.6%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.19; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $912K in reported program spending
  • Leadership: top reported pay $89K · 8 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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 — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.