PARTNERSHIP FOR INNER CITY EDUCATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Principal Officer

KRISTEN GENGARO

Phone

2123711011

Tax Period

2023-09-01 to 2024-08-31

PARTNERSHIP FOR INNER CITY EDUCATION DBA PARTNERSHIP SCHOOLS, founded in 1997, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $10.9M in total revenue in fiscal year 2023. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $22.1M exceeded revenue, resulting in a 103% operating deficit.

Mission

The mission of Partnership Schools is to develop outstanding Catholic elementary schools that provide low-income students with the academic preparation, values and skills they need to break the cycle of poverty and lead fulfilling, productive lives. The Partnership provided tuition scholarships to those in need and assists schools in their quest to achieve academic excellence, financial stability and administrative efficiency, by awarding grants for academic and programmatic initiatives, professional development and operational support to a set of seven inner-city elementary schools (through June 30, 2024)in New York and four schools in Cleveland. The Partnership also seeks to ensure safe and enriched school facilities by providing grants to these elementary schools for necessary capital improvements.

Program Service Accomplishments

Program 1

Expenses: $15,821,616 Revenue: $620

The Partnership provided administrative, educational and operational services to seven PreK - 8th grade schools governed by the Archdiocese of New York, which serve a high percentage of families who cannot afford the rigorous, faith-based school options they seek. The Partnership provides both human and financial resources to deliver that rigorous education, grounded in content, character, and faith, to its students. Additionally, scholarships were provided to approximately 1,600 students attending these schools. The Partnership also funds capital improvements made to the school buildings.

Program 2

Expenses: $584,645

Grants made to elementary and high schools outside the seven NY school network for scholarships, academic and enrichment programs and general operating support.

Program 3

Expenses: $2,225,044 Revenue: $266,273

The Partnership provides administrative, educational and operational services to four PreK - 8th grade schools governed by the Diocese of Cleveland, which serve a high percentage of families who...

The Partnership provides administrative, educational and operational services to four PreK - 8th grade schools governed by the Diocese of Cleveland, which serve a high percentage of families who cannot afford the rigorous, faith-based school options they seek. The Partnership provides both human and financial resources to deliver that rigorous education, grounded in content, character, and faith, to its students. The Partnership also funds capital improvements made to the school buildings.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $8,813,146

Program Service Revenue $266,273

Investment Income $1,833,694

Other Revenue $620

TOTAL REVENUE $10,913,733

Expense Breakdown

Grants Paid $13,603,236

Salaries & Benefits $5,632,430

Fundraising Expenses $1,795,151

Program Expenses $18,631,305

Other Expenses $2,872,693

TOTAL EXPENSES $22,108,359

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,913,733	$27,493,684	-0.6%
Expenses	$22,108,359	$24,414,681	-0.1%
Net Income	$-11,194,626	$3,079,003	-4.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$160,952

Total Directors

Key Employees

$683,725

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Russell L Carson	Chairman	1.00	Officer Director	$0	$0	$0
Amy M Stevens	President	1.00	Officer Director	$0	$0	$0
Donald J Herdrich	Treasurer	1.00	Officer Director	$0	$0	$0
Clemence Von Mueffling	Trustee	1.00	Director	$0	$0	$0
Fr Donald P Oleksiak	Trustee	1.00	Director	$0	$0	$0
Peter T Grauer	Trustee	1.00	Director	$0	$0	$0
Bonnie B Himmelman	Trustee	1.00	Director	$0	$0	$0
Helen Lowe	Trustee	1.00	Director	$0	$0	$0
Jane B O'Connell	Secretary	1.00	Officer Director	$0	$0	$0
Thomas C Quick	Trustee	1.00	Director	$0	$0	$0
Most Reverend Timothy M Dolan	Trustee	1.00	Director	$0	$0	$0
Frank O'Linn	Trustee	1.00	Director	$0	$0	$0
Nancy R Wall	Trustee	1.00	Director	$0	$0	$0
Peter Maulik	Trustee	1.00	Director	$0	$0	$0
Charles P Durkin Jr	Trustee	1.00	Director	$0	$0	$0
Janine Hill	Trustee	1.00	Director	$0	$0	$0
William Goodloe	Trustee	1.00	Director	$0	$0	$0
Patricia Chadwick	Trustee	1.00	Director	$0	$0	$0
Frank Porcelli	Trustee	1.00	Director	$0	$0	$0
Brian Regan	Trustee	1.00	Director	$0	$0	$0
Brendan Gallagher	Trustee	1.00	Director	$0	$0	$0
Msgr Joseph LaMorte	Trustee	1.00	Director	$0	$0	$0
John Cahill	Trustee	1.00	Director	$0	$0	$0
Michael Deegan	Trustee	1.00	Director	$0	$0	$0
Amandine Freidheim	Trustee	1.00	Director	$0	$0	$0
Cecelia Greene	Trustee	1.00	Director	$0	$0	$0
Jane Martinez Dowling	Trustee	1.00	Director	$0	$0	$0
Karen Hamilton	Trustee	1.00	Director	$0	$0	$0
Alicia Hammarskjold	Trustee	1.00	Director	$0	$0	$0
Sr Mary Grace Walsh	Trustee	1.00	Director	$0	$0	$0
Kristen Gengaro	Executive Director	40.00	Officer	$154,810	$6,142	$160,952
Kathleen Porter-Magee	Superintendent	40.00	Key Emp	$353,271	$43,436	$396,707
Kathleen Quirk	Chief of Staff	40.00	Key Emp	$252,336	$34,682	$287,018
George Grenier	Director of Facilities	40.00	Highest	$209,541	$24,537	$234,078
Christian Dallavis	Assist Superintendent	40.00	Highest	$191,776	$12,278	$204,054
Maria Ventresca	VP of Operations	40.00	Highest	$166,542	$20,217	$186,759
Molly Ann Smith	Assist Superintendent	40.00	Highest	$186,729	$44,255	$230,984
Angela Larson	CFO	40.00	Highest	$171,589	$23,967	$195,556
Jill Kafka	Former Executive Director	40.00		$355,058	$43,182	$398,240

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$10,913,733	$22,108,359	$35,477,430	$-11,194,626
2023	$27,493,684	$24,414,681	$55,409,569	$3,079,003
2022	$17,376,919	$21,795,542	$51,759,837	$-4,418,623
2021	$24,282,663	$19,653,084	$64,379,139	$4,629,579
2020	$14,242,693	$15,925,818	$56,509,091	$-1,683,125
2018	$13,200,484	$13,870,240	$65,751,887	$-669,756

PARTNERSHIP FOR INNER CITY EDUCATION DBA PARTNERSHIP SCHOOLS