THE DREXEL FUND

EIN: 465768451 501(c)(3) Education

MILWAUKEE, WI

Total Revenue
$8,522,964
Total Expenses
$4,211,499
Total Assets
$18,531,220
Net Assets
$17,560,284
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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
2015
Legal Domicile
CA
Principal Officer
JOHN ERIKSEN
Phone
6177788118
Tax Period
2020-07-01 to 2021-06-30

THE DREXEL FUND, founded in 2015, is a community nonprofit in the Education sector that reported $8.5M in total revenue in fiscal year 2020. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $4.3M, a strong 51% operating margin.

Mission

THE DREXEL FUND IS A VENTURE PHILANTHROPY FUND THAT INVESTS AND PARTNERS IN THE GROWTH OF HIGH QUALITY, FINANCIALLY SUSTAINABLE NETWORKS OF FAITH BASED OR OTHER PRIVATE SCHOOLS

Program Service Accomplishments

Program 1
Expenses: $3,921,564

GRANTS TO FAITH BASED OR PRIVATE SCHOOLS

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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 (2020)

Revenue Breakdown

Contributions & Grants $8,493,563
Program Service Revenue $0
Investment Income $2,817
Other Revenue $26,584
TOTAL REVENUE $8,522,964

Expense Breakdown

Grants Paid $3,054,040
Salaries & Benefits $775,863
Fundraising Expenses $30,194
Program Expenses $3,921,564
Other Expenses $381,596
TOTAL EXPENSES $4,211,499

Year-over-Year Comparison

2020 2019 Change
Revenue $8,522,964 $10,554,023 -0.2%
Expenses $4,211,499 $4,425,130 0.0%
Net Income $4,311,465 $6,128,893 -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

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Governance

Voting Members
9
Independent Members
8
Employees
5
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
4
$295,192
Total Directors
9
$295,192
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BJ CASSIN CHAIRMAN 2.00
Officer Director
$0 $0 $0
THOMAS J HEALEY TREASURER 2.00
Officer Director
$0 $0 $0
NICK HOWLEY TRUSTEE 2.00
Director
$0 $0 $0
DARREN JACKSON SECRETARY 2.00
Officer Director
$0 $0 $0
DARLA ROMFO TRUSTEE 2.00
Director
$0 $0 $0
DR DANIEL SCOGGIN TRUSTEE 2.00
Director
$0 $0 $0
CHRISTOPHER WILSON TRUSTEE 2.00
Director
$0 $0 $0
JOHN ERIKSEN MANAGING PARTNER 40.00
Officer Director
$259,914 $35,278 $295,192
MICHAEL MESSNER TRUSTEE 2.00
Director
$0 $0 $0
MITZI KEEL DIRECTOR OF FIN. & ADMIN. 20.00
Highest
$106,084 $24,805 $130,889
ABIGAIL SCHUMWINGER PARTNER AND INVESTMENT DIR 40.00
Highest
$200,475 $47,447 $247,922
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
2021 $8,522,964 $4,211,499 $18,531,220 $4,311,465
2020 $10,554,023 $4,425,130 $15,503,287 $6,128,893
2020 $10,554,023 $4,425,130 $15,503,287 $6,128,893
2019 $4,393,125 $4,727,192 $9,385,438 $-334,067
2018 $6,235,626 $5,795,354 $8,589,665 $440,272
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