GIRARD COLLEGE FOUNDATION

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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

1998

Legal Domicile

Principal Officer

JOSEPH SAMUEL

Phone

2157874442

Tax Period

2023-07-01 to 2024-06-30

GIRARD COLLEGE FOUNDATION, founded in 1998, is a small nonprofit in the Education sector that reported $741K in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. Net assets of $5.0M represent 81 months of operating reserves.

Mission

TO PROMOTE AND ENHANCE THE EDUCATIONAL FACILITIES AND SERVICES PROVIDED TO THE STUDENTS OF GIRARD COLLEGE (AN ELEMENTARY AND SECONDARY SCHOOL) AND OTHER PHILADELPHIA AREA SCHOOLS BY RAISING FUNDS FROM THE ALUMNI AND FRIENDS FOR THESE INSTITUTIONS.

Program Service Accomplishments

Program 1

Expenses: $481,700

PENNSYLVANIA OPPORTUNITY SCHOLARSHIP TAX CREDIT PROGRAM:THE PROGRAM PROVIDES TAX CREDITS TO ELIGIBLE BUSINESSES CONTRIBUTING TO AN OPPORTUNITY SCHOLARSHIP ORGANIZATION. BUSINESS CONTRIBUTIONS ARE...

PENNSYLVANIA OPPORTUNITY SCHOLARSHIP TAX CREDIT PROGRAM:THE PROGRAM PROVIDES TAX CREDITS TO ELIGIBLE BUSINESSES CONTRIBUTING TO AN OPPORTUNITY SCHOLARSHIP ORGANIZATION. BUSINESS CONTRIBUTIONS ARE THEN USED BY OPPORTUNITY SCHOLARSHIP ORGANIZATIONS TO PROVIDE TUITION ASSISTANCE IN THE FORM OF SCHOLARSHIPS TO ELIGIBLE STUDENTS RESIDING WITHIN THE BOUNDARIES OF A LOW-ACHIEVING SCHOOL IN THE COMMONWEALTH OF PENNSYLVANIA TO ATTEND ANOTHER PUBLIC SCHOOL OUTSIDE OF THEIR DISTRICT OR NONPUBLIC SCHOOL. A LOW-ACHIEVING SCHOOL IS DEFINED AS A PUBLIC ELEMENTARY OR SECONDARY SCHOOL RANKING IN THE BOTTOM 15 PERCENT OF THEIR DESIGNATION AS AN ELEMENTARY OR SECONDARY SCHOOL BASED UPON COMBINED MATH AND READING PENNSYLVANIA SYSTEM OF SCHOOL ASSESSMENT (PSSA) SCORES.THE GIRARD COLLEGE FOUNDATION IS AN OPPORTUNITY SCHOLARSHIP ORGANIZATION AND USED THESE PROCEEDS TO PROVIDE APPROXIMATELY 80 PARTIAL SCHOLARSHIPS TO STUDENTS THAT ATTENDED GIRARD COLLEGE DURING THE 2023-2024 SCHOOL YEAR.

Program 2

Expenses: $143,000

PENNSYLVANIA EDUCATIONAL IMPROVEMENT TAX CREDIT PROGRAM:THIS PROGRAM PROVIDES TAX CREDITS TO ELIGIBLE BUSINESSES CONTRIBUTING TO SCHOLARSHIP ORGANIZATIONS AND/OR EDUCATIONAL IMPROVEMENT ORGANIZATIONS AND/OR PRE-K SCHOLARSHIP ORGANIZATIONS CONTAINED ON A LIST PUBLISHED BY THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT. BUSINESS CONTRIBUTIONS ARE THEN USED BY SCHOLARSHIP ORGANIZATIONS AND/OR EDUCATIONAL IMPROVEMENT ORGANIZATIONS AND/OR PRE-K SCHOLARSHIP ORGANIZATIONS TO PROVIDE TUITION ASSISTANCE IN THE FORM OF SCHOLARSHIPS TO ELIGIBLE STUDENTS RESIDING WITHIN THE COMMONWEALTH OF PENNSYLVANIA.THE GIRARD COLLEGE FOUNDATION IS A SCHOLARSHIP ORGANIZATION AND USED THESE PROCEEDS TO PROVIDE APPROXIMATELY FIFTEEN (15) PARTIAL SCHOLARSHIPS TO STUDENTS THAT ATTENDED GIRARD COLLEGE DURING THE 2023-2024 SCHOOL YEAR.

Program 3

Expenses: $118,506

ARTIST IN RESIDENCE PROGRAM - ""BE HOLDING":BE HOLDING , AN ORIGINAL PERFORMANCE USING ROSS GAY'S BOOK-LENGTH POEM BY THE SAME NAME AS A LIBRETTO/TEXT, MEDITATES ON THREE IMPACTFUL THEMES: BLACK...

ARTIST IN RESIDENCE PROGRAM - ""BE HOLDING":BE HOLDING , AN ORIGINAL PERFORMANCE USING ROSS GAY'S BOOK-LENGTH POEM BY THE SAME NAME AS A LIBRETTO/TEXT, MEDITATES ON THREE IMPACTFUL THEMES: BLACK FLIGHT, BLACK GENIUS, AND LOOKING . THE POEM STRUCTURES ITSELF AROUND THE FAMOUS LAY-UP BY PHILADELPHIA 76ERS LEG ENDARY MVP JULIUS ERVING (AKA "DR. J.), A REVERED FIGURE AMONG PHILADELPHIA ATHLETES/ROLE MODELS. DR. J'S BALLETIC ATHLETICISM IN THE 1980 NBA F INALS--DURING WHICH HE FLIES FOR A SEEMINGLY IMPOSSIBLY LONG TIME BEFORE MAKING THAT INCREDIBLE SHOT--IS "SEEN" THROUGH VARIOUS LENSES GAY'S 70-PAGE, ELEGIAC HOMAGE. THE WORK'S THEMES ARE PARTICULARLY MEANINGFUL FOR GIRARD, WHERE YOUNG PEOPLE OF COLOR ARE SPRING BOARDED TO SEEK "FLIGHT" FROM TRAUMA: TO COLLEGE, A CAREER, A WAY OUT OF UPBRINGINGS MARKED BY POVERTY, HUNGER, HOMELESSNESS, ABUSE, ADDICTION, NEGLECT, VIOLENCE AND INCARCERATION. AS THERE ARE APPROXIMATELY 120 STUDENTS WHO ARE IN HIGH SCHOOL AT GIRARD COLLEGE, ALL OF THEM WILL ULTIMATELY EITHER PARTICIPATE IN OR EXPERIENCE THIS PROGRAM AS A SPECTATOR. THE PROJECT HAS TWO COMPONENTS: (1) A MULTI-YEAR RESIDENCY WHERE THE ARTISTS MEET AT GIRARD IN THE FALL AND SPRING EACH YEAR FOR A SHORT DEVELOPMENT RESIDENCY THAT WILL INVOLVE STUDENTS OF ALL AGES ENGAGED AS IMPROVISORS, DOCUMENTARIANS, WRITERS AND/OR PERFORMERS AND (2) A FULLY-REALIZED PRODUCTION RUN OF AN EVENING -LENGTH THROUGH-SCORED LIVE PERFORMANCE.

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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 $741,438

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $741,438

Expense Breakdown

Grants Paid $640,329

Salaries & Benefits $0

Fundraising Expenses $2,176

Program Expenses $743,206

Other Expenses $110,103

TOTAL EXPENSES $750,432

Year-over-Year Comparison

	2023	2022	Change
Revenue	$741,438	$1,006,959	-0.3%
Expenses	$750,432	$1,014,049	-0.3%
Net Income	$-8,994	$-7,090	+0.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH SAMUEL	PRESIDENT	0.50	Officer Director	$0	$0	$0
JOHN LEONE	VP & ACTING TREASURER	0.50	Officer Director	$0	$0	$0
CHAD BURKHARDT	DIRECTOR (TO 06/2024)	0.50	Director	$0	$0	$0
HENRY FAIRFAX	DIRECTOR	0.50	Director	$0	$0	$0
PETER W SHOEMAKER	DIRECTOR (TO 06/2024)	0.50	Director	$0	$0	$0
OMAR T WOODARD	DIRECTOR	0.50	Director	$0	$0	$0
RON MARRERO	DIRECTOR	0.50	Director	$0	$0	$0
JASON FOSTER-BEY	DIRECTOR	0.50	Director	$0	$0	$0
BOB TROSTEL	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH GARBARINO	DIRECTOR	0.50	Director	$0	$0	$0
BOB BURLEIGH	DIRECTOR	0.50	Director	$0	$0	$0

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	$741,438	$750,432	$5,163,031	$-8,994
2023	$1,006,959	$1,014,049	$4,636,333	$-7,090
2022	$1,310,639	$1,709,665	$4,333,566	$-399,026
2021	$1,521,357	$1,100,327	$5,446,659	$421,030
2020	$1,322,978	$1,300,023	$4,200,738	$22,955
2019	$1,856,629	$854,549	$4,151,727	$1,002,080
2018	$977,145	$733,895	$3,529,180	$243,250