STEPPINGSTONE SCHOLARS INC (EIN 421612131) - Form 990 Financial Analysis & Trantor Score

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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

2003

Legal Domicile

Principal Officer

SEAN E VEREEN

Phone

2152044012

Tax Period

2022-09-01 to 2023-06-30

STEPPINGSTONE SCHOLARS INC, founded in 2003, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2022. Revenue fell 80% from the prior year — a significant decline worth monitoring. Expenses of $4.5M exceeded revenue, resulting in a 39% operating deficit.

Mission

STEPPINGSTONE SCHOLARS IS AN EDUCATIONAL SOCIAL MOBILITY ORGANIZATION. FOR LOW INCOME STUDENTS IN THE CITY OF PHILADELPHIA, THERE ARE OFTEN NO CLEAR PATHWAYS TO COLLEGE OR THE WORKFORCE. SINCE 1999, STEPPINGSTONE HAS BEEN WORKING TO ADDRESS THIS SYSTEMIC PROBLEM BY CREATING NOT JUST ONE PATHWAY, BUT MANY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,887,278

Program Service Revenue $1,091,208

Investment Income $219,386

Other Revenue $0

TOTAL REVENUE $3,197,872

Expense Breakdown

Grants Paid $100,096

Salaries & Benefits $3,767,174

Fundraising Expenses $337,760

Program Expenses $3,118,873

Other Expenses $585,980

TOTAL EXPENSES $4,453,250

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,197,872	$15,898,293	-0.8%
Expenses	$4,453,250	$5,254,427	-0.2%
Net Income	$-1,255,378	$10,643,866	-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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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

221

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

$278,656

Total Directors

$278,656

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY GAY	VICE CHAIR	2.00	Director	$0	$0	$0
CHANDRA KEE	BOARD MEMBER	2.00	Director	$0	$0	$0
DEBORAH JR HIRTLE	BOARD CHAIR	2.00	Director	$0	$0	$0
ERINN CORBETT-WRIGHT	BOARD MEMBER	2.00	Director	$0	$0	$0
GARY A DEUTSCH	BOARD MEMBER	2.00	Director	$0	$0	$0
GRACE LIMAYE	BOARD MEMBER	2.00	Director	$0	$0	$0
GREG ANDERSON	BOARD MEMBER	2.00	Director	$0	$0	$0
HON JANE C GREENSPAN	BOARD MEMBER	2.00	Director	$0	$0	$0
JULIA A CONOVER	TREASURER	2.00	Director	$0	$0	$0
LAUREN SULLIVAN	BOARD MEMBER	2.00	Director	$0	$0	$0
MARGO LEBOVITZ	BOARD MEMBER	2.00	Director	$0	$0	$0
MATTHEW HAND	SECRETARY	2.00	Director	$0	$0	$0
MICHAEL J ROSS	BOARD MEMBER	2.00	Director	$0	$0	$0
SEAN VEREEN	PRESIDENT	40.00	Officer Director	$267,938	$10,718	$278,656
CHARLES HOWARD	BOARD MEMBER	2.00	Director	$0	$0	$0
REGINALD BROWNE	BOARD MEMBER	2.00	Director	$0	$0	$0
JACKIE BAILEY ROSS MORINIERE	BOARD MEMBER	2.00	Director	$0	$0	$0
AVERY MUNNINGS	BOARD MEMBER	2.00	Director	$0	$0	$0
JACKIE RANTANEN	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTOPHER AVERY	VICE PRESIDENT OF PROGRAMS	40.00	Highest	$191,671	$7,667	$199,338
PAIGE LEGRAND	VICE PRESIDENT OF DEVELOPM	40.00	Highest	$153,079	$0	$153,079
TU-QUYEN NGUYEN	CHIEF OPERATING OFFICER	40.00	Highest	$150,345	$6,014	$156,359
CHANELL BATES	VICE PRESIDENT OF TALENT	40.00	Highest	$148,256	$5,930	$154,186

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	$3,197,872	$4,453,250	No data	$-1,255,378
2022	$15,898,293	$5,254,427	$17,894,964	$10,643,866
2021	$5,012,053	$4,083,735	$8,018,831	$928,318
2019	$3,453,861	$2,466,932	$5,972,320	$986,929
2018	$2,337,594	$2,203,107	$4,901,137	$134,487

STEPPINGSTONE SCHOLARS INC