FOUNDATION FOR FREE ENTERPRISE EDUCATION

EIN: 251394365 501(c)(3) Youth Development

ERIE, PA

Total Revenue
$2,278,633
Total Expenses
$1,685,739
Total Assets
$8,894,735
Net Assets
$8,409,529
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
PA
Principal Officer
KAREN M MUSANTE
Phone
8148339576
Tax Period
2024-10-01 to 2025-09-30

FOUNDATION FOR FREE ENTERPRISE EDUCATION, founded in 1979, is a community nonprofit in the Youth Development sector that reported $2.3M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $593K, a strong 26% operating margin.

Mission

SEE PROGRAM SERVICE ACCOMPLISHMENTS BELOW

Program Service Accomplishments

Program 1
Expenses: $920,761 Revenue: $600,772

THE FOUNDATION FOR FREE ENTERPRISE EDUCATION SUCCESSFULLY OPERATED THREE YOUTH EDUCATION PROGRAMS CENTERED AROUND BUSINESS, SKILLS DEVELOPMENT, CAREER EXPLORATION, FINANCIAL LITERACY AND WORKFORCE...

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THE FOUNDATION FOR FREE ENTERPRISE EDUCATION SUCCESSFULLY OPERATED THREE YOUTH EDUCATION PROGRAMS CENTERED AROUND BUSINESS, SKILLS DEVELOPMENT, CAREER EXPLORATION, FINANCIAL LITERACY AND WORKFORCE PREPAREDNESS THAT IMPACTED NEARLY 15,000 YOUNG PENNSYLVANIANS IN PROGRAM YEAR 2025. PENNSYLVANIA FREE ENTERPRISE WEEK (PFEW) TEACHES HIGH SCHOOL STUDENTS ABOUT MODERN BUSINESS AND FREE ENTERPRISE AND HELPS THEM DEVELOP RELEVANT, JOB-READY SKILLS. ONCE AGAIN, PFEW OPERATED FIVE WEEK-LONG SUMMER SESSIONS ON THE CAMPUSES OF LYCOMING COLLEGE AND PENNSYLVANIA COLLEGE OF TECHNOLOGY IN WILLIAMSPORT, PA, EDUCATING 1,890 STUDENTS STATEWIDE. THE STOCK MARKET GAME (SMG) CONTINUED TO GROW, EDUCATING A RECORD 10,935 STUDENTS IN GRADES 4-12 DURING THE 2024-2025 SCHOOL YEAR. SMG IS AN IN-SCHOOL PROGRAM THAT TEACHES STUDENTS ABOUT INVESTING, CAPITAL MARKETS AND FINANCIAL LITERACY. THE SPEAKER SERIES ADDED MORE CAREER EXPLORATION VIDEOS AND REGIONAL PROGRAMS AND CREATED TWO CAREER EXPLORATION WORKBOOKS, ONE FOR STUDENTS AND ONE FOR TEACHERS, THAT ALIGN WITH PA STATE CAREER EDUCATION AND WORK (CEW) AND PERSONAL FINANCE STANDARDS. THE SERIES VIDEOS AND ONLINE RESOURCES GAINED OVER 2,000 ADDITIONAL UNIQUE VIEWS IN 2025. ALL THREE OF OUR YOUTH PROGRAMS MEET OR EXCEED THE NEW PERSONAL FINANCE STANDARDS AND CONTINUE TO SUPPORT THE PENNSYLVANIA CEW STANDARDS. OUR PROGRAMS EFFECTIVELY ALIGN WITH ACT 158 AND THE PDE/CTE'S PROGRAM OF STUDY TASK LIST FOR SALES, DISTRIBUTION, AND MARKETING OPERATIONS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,374,265
Program Service Revenue $600,772
Investment Income $303,596
Other Revenue $0
TOTAL REVENUE $2,278,633

Expense Breakdown

Grants Paid $0
Salaries & Benefits $908,770
Fundraising Expenses $223,531
Program Expenses $920,761
Other Expenses $776,969
TOTAL EXPENSES $1,685,739

Year-over-Year Comparison

2024 2023 Change
Revenue $2,278,633 $2,107,197 +0.1%
Expenses $1,685,739 $1,538,563 +0.1%
Net Income $592,894 $568,634 +0.0%
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
28
Independent Members
28
Employees
36
Volunteers
165

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
7
$191,602
Total Directors
30
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHAD M AMOND DIRECTOR 1.00
Director
$0 $0 $0
DARLENE J ROBBINS DIRECTOR 1.00
Director
$0 $0 $0
DAVID A CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
DAVID N TAYLOR DIRECTOR 1.00
Director
$0 $0 $0
GARY M GOSS DIRECTOR 1.00
Director
$0 $0 $0
GEORGE M BOOK JR DIRECTOR 1.00
Director
$0 $0 $0
JAMES KILGALLON DIRECTOR 1.00
Director
$0 $0 $0
JASON C FINK DIRECTOR 1.00
Director
$0 $0 $0
JON G WHITEMAN VICE CHAIRMAN/ASSISTANT TR 1.00
Officer Director
$0 $0 $0
JOSEPH D HURD DIRECTOR 1.00
Director
$0 $0 $0
KATIE E CLARKE VICE CHAIRPERSON 1.00
Officer Director
$0 $0 $0
KEVIN SHIVERS CHAIRMAN 1.00
Officer Director
$0 $0 $0
KEVIN W DAVIS DIRECTOR 1.00
Director
$0 $0 $0
KYLE P WHERRITY DIRECTOR 1.00
Director
$0 $0 $0
LAWRENCE E RYBACKI EMERITUS DIRECTOR 1.00
Director
$0 $0 $0
LINDSAY GRIFFIN-BOYLAN DIRECTOR 1.00
Director
$0 $0 $0
LOWMAN S HENRY SECRETARY 1.00
Officer Director
$0 $0 $0
MARK A KARENCHAK DIRECTOR 1.00
Director
$0 $0 $0
MARK J PIETRUSINSKI DIRECTOR 1.00
Director
$0 $0 $0
NICK N SCOTT JR DIRECTOR 1.00
Director
$0 $0 $0
PATRICIA A BAUN DIRECTOR 1.00
Director
$0 $0 $0
PAUL J WARD ESQ TREASURER 1.00
Officer Director
$0 $0 $0
ROBERT J WETZEL ESQ EMERITUS DIRECTOR 1.00
Director
$0 $0 $0
RUDOLPH D FRANK DIRECTOR 1.00
Director
$0 $0 $0
RUSSELL P BROOKS IMMEDIATE PAST CHAIRMAN 1.00
Officer Director
$0 $0 $0
RYAN L NEWMAN DIRECTOR 1.00
Director
$0 $0 $0
THOMAS PALISIN DIRECTOR 1.00
Director
$0 $0 $0
CARL A MARRARA DIRECTOR 1.00
Director
$0 $0 $0
TARA MURRAY DIRECTOR 1.00
Director
$0 $0 $0
NEAL R LESHER DIRECTOR 1.00
Director
$0 $0 $0
KAREN M MUSANTE PRESIDENT & CEO 40.00
Officer
$170,566 $21,036 $191,602
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 $2,278,633 $1,685,739 $8,894,735 $592,894
2024 $2,107,197 $1,538,563 $7,935,592 $568,634
2023 $1,879,469 $1,420,756 $6,450,985 $458,713
2022 $1,865,641 $1,353,168 $5,614,586 $512,473
2021 $2,346,941 $1,111,032 $6,022,331 $1,235,909
2020 $1,183,218 $910,284 $4,636,316 $272,934
2019 $1,944,159 $1,448,523 $4,385,573 $495,636
2018 $1,768,229 $1,541,835 $3,968,482 $226,394
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