HEALEY EDUCATION FOUNDATION INC

EIN: 223589468 501(c)(3) Education

CHERRY HILL, NJ

Total Revenue
$3,824,167
Total Expenses
$3,903,785
Total Assets
$2,645,023
Net Assets
$478,024
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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NJ
Principal Officer
CHRISTINE HEALEY
Phone
8564882504
Tax Period
2023-01-01 to 2023-12-31

HEALEY EDUCATION FOUNDATION INC, founded in 1997, is a community nonprofit in the Education sector that reported $3.8M in total revenue in fiscal year 2023. Revenue surged 115% from the prior year, signaling strong growth momentum.

Mission

THE HEALEY EDUCATION FOUNDATION INVESTS IN PK-12 CATHOLIC SCHOOLS. WORKING IN PARTNERSHIP WITH SCHOOLS, ARCHDIOCESES AND DIOCESES, AND FELLOW PHILANTHROPISTS, THE FOUNDATION IS A CATALYST FOR CHANGE TO ENSURE THE FUTURE OF CATHOLIC EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $3,720,845 Revenue: $2,000

THE HEALEY EDUCATION FOUNDATION'S INNOVATIVE BUSINESS MODEL RESULTS IN PK-12 CATHOLIC SCHOOLS THAT ARE MISSION DRIVEN, FINANCIALLY SOUND, AND ORGANIZATIONALLY SUSTAINABLE. TO SCALE THE IMPACT OF THE...

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THE HEALEY EDUCATION FOUNDATION'S INNOVATIVE BUSINESS MODEL RESULTS IN PK-12 CATHOLIC SCHOOLS THAT ARE MISSION DRIVEN, FINANCIALLY SOUND, AND ORGANIZATIONALLY SUSTAINABLE. TO SCALE THE IMPACT OF THE FOUNDATION'S 18 YEARS OF WORK AND SEED THE CONTINUED GROWTH OF THE PROGRAM INTO THE FUTURE,HEF PROVIDED A FIVE- YEAR GRANT TO BOSTON COLLEGE ROCHE CENTER FOR CATHOLIC EDUCATION (BCRCE).THE PURPOSE IS TO ESTABLISH THE FIRST NATIONAL PROGRAM AT BCRCE FOR CATHOLIC SCHOOL BOARD BUILDING AND TRAINING SECURING THE FUTURE OF THIS EDUCATION SYSTEM.

Program 2

THE HEALEY EDUCATION FOUNDATION, IN PARTNERSHIP WITH A GRANT FROM THE GHR FOUNDATION,PROVIDED DIRECT SERVICES TO ASCENSION CATHOLIC ACADEMY NETWORK HTTPS://ACAMN.ORG/SCHOOLS/. THIS NETWORK OF FOUR...

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THE HEALEY EDUCATION FOUNDATION, IN PARTNERSHIP WITH A GRANT FROM THE GHR FOUNDATION,PROVIDED DIRECT SERVICES TO ASCENSION CATHOLIC ACADEMY NETWORK HTTPS://ACAMN.ORG/SCHOOLS/. THIS NETWORK OF FOUR INNER CITY SCHOOLS SERVING CHILDREN IN ONE OF THE MOST VIOLENT AREAS OF MINNEAPOLIS AND ONE OF THE LOWEST PERFORMING SCHOOL DISTRICTS IN THE COUNTRY. THE SCHOOL LEADERSHIP SOUGHT STRATEGIES TO STRENGTHEN THEIR GOVERNANCE STRUCTURE,OPERATING MODEL AND LEADERSHIP SUCCESSION PLAN.

Program 3

HEF SUPPORTS THE CATHOLIC PARTNERSHIP SCHOOLS (CPS) BY HELPING THE NEEDIEST CHILDREN RECEIVE A QUALITY EDUCATION IN CAMDEN, NJ, ONE OF THE MOST VIOLENT CITIES IN THE UNITED STATES. THE CPS SERVES...

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HEF SUPPORTS THE CATHOLIC PARTNERSHIP SCHOOLS (CPS) BY HELPING THE NEEDIEST CHILDREN RECEIVE A QUALITY EDUCATION IN CAMDEN, NJ, ONE OF THE MOST VIOLENT CITIES IN THE UNITED STATES. THE CPS SERVES 1,000 CHILDREN IN FIVE ELEMENTARY SCHOOLS THAT ARE AT RISK FOR CLOSING DUE TO TUITION AFFORDABILITY. HEF'S CONTRIBUTION SUPPORTS THE DEVELOPMENT OF THIS NEW MODEL FOR URBAN CATHOLIC EDUCATION CALLED THE CATHOLIC PARTNERSHIP SCHOOLS.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,820,663
Program Service Revenue $2,000
Investment Income $1,504
Other Revenue $0
TOTAL REVENUE $3,824,167

Expense Breakdown

Grants Paid $3,089,486
Salaries & Benefits $609,802
Fundraising Expenses $60,980
Program Expenses $3,720,845
Other Expenses $204,497
TOTAL EXPENSES $3,903,785

Year-over-Year Comparison

2023 2022 Change
Revenue $3,824,167 $1,776,469 +1.2%
Expenses $3,903,785 $1,814,416 +1.2%
Net Income $-79,618 $-37,947 +1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
1
Employees
7
Volunteers
N/A

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
2
$238,307
Total Directors
3
$238,307
Key Employees
1
$112,343
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT T HEALEY JR TRUSTEE 2.00
Director
$0 $0 $0
HARRY BELL TRUSTEE 2.00
Director
$0 $0 $0
CHRISTINE HEALEY PRESIDENT 40.00
Officer Director
$218,698 $19,609 $238,307
JERRY KELLY TREASURER 2.00
Officer
$0 $0 $0
MEGAN M FAMULAR ADMINISTRATION 40.00
Key Emp
$101,650 $10,693 $112,343
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
2023 $3,824,167 $3,903,785 $2,645,023 $-79,618
2022 $1,776,469 $1,814,416 $621,773 $-37,947
2021 $1,877,064 $1,811,695 $664,872 $65,369
2020 $1,724,863 $1,939,940 $814,886 $-215,077
2019 $3,040,826 $2,671,470 $961,453 $369,356
2018 $2,381,703 $2,507,884 $400,003 $-126,181
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