2024-11-12T22:24:28-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 133556137 PUBLIC RELATIONS SOCIETY OF AMERICA FOUNDATION INC PUBL 2124601400 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 ANTONIO HERNANDEZ CRANE PRESIDENT 2124601400 2024-11-12 1 1 EVA MRUK P00543254 2122862600 2024-11-12 2023 2024-10-15 13:58:12Z ANTONIO HERNANDEZ CRANE 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 446740 0 X WWW.PRSAFOUNDATION.ORG X 1990 NY TO FOSTER, SPONSOR AND CONDUCT RESEARCH, EDUCATION AND CONTINUING EDUCATION IN THE PUBLIC RELATIONS INDUSTRY. 22 22 0 22 0 0 379187 206646 1965 929 -17596 -7719 -313 8547 363243 208403 83150 170379 0 0 0 0 0 0 9571 88110 63845 171260 234224 191983 -25821 1414604 1198286 363771 50692 1050833 1147594 X THE PRSA FOUNDATION RAISES FUNDS TO FUEL THE PASSION, DREAMS AND FUTURES OF A DIVERSE RANGE OF AMBITIOUS AND PROMISING STUDENTS BY SUPPORTING PROGRAMS THAT ATTRACT ETHNIC AND RACIAL MINORITIES TO CAREERS IN PUBLIC RELATIONS (PR), AND BY DEVELOPING THEIR CAPACITY TO BRING THE PR PERSPECTIVE TO THE ORGANIZATIONS THEY SERVE AND TO SOCIETY. 0 0 197423 170379 0 THE PRSA FOUNDATION SUPPORTS DIVERSE STUDENTS AND SCHOLARS IN THEIR DESIRE TO ENTER THE PROFESSION OF PUBLIC RELATIONS. OUR FOCUS IS ON THE IMPROVEMENT AND DIVERSIFICATION OF THE FIELD THROUGH THE GRANTING OF SCHOLARSHIPS AND AWARDS AND THE CREATION AND SUPPORT OF RESEARCH. WE AWARD GRANTS AND SCHOLARSHIPS TO DESERVING SCHOLARS, AND PUBLISH RESEARCH FOCUSED ON BEST-IN-CLASS DIVERSITY RETENTION, RECRUITMENT, AND MENTORSHIP. WE ALSO SEEK AND ACCEPT NEW FUNDS FROM DONORS (INDIVIDUAL OR CORPORATE/AGENCY) THAT FOLLOW CURRENT GUIDELINES FOR ESTABLISHING SCHOLARSHIPS AND RESEARCH GRANTS AND PURSUE PARTNERSHIPS WITH ORGANIZATIONS AND INDIVIDUALS TO DEVELOP PROGRAMS ADVANCING THE CAREER SUCCESS OF DIVERSE GRADUATES. IN 2023, THE FOUNDATION HAS GIVEN 41 INDIVIDUAL SCHOLARSHIPS AND AWARDS TOTALING $133,700. ADDITIONAL GRANTS IMPACTING 311 INDIVIDUALS, TOTALING $36,679 WERE ALSO AWARDED. 48 0 929 DIVERSE VOICES: PROFILES IN LEADERSHIP IS A PUBLICATION DESIGNED TO HELP COMMUNICATIONS LEADERS AND PROFESSIONALS BETTER UNDERSTAND THE CHALLENGES FACED BY MINORITIES IN THE FIELD. PUBLISHED IN PARTNERSHIP WITH THE MUSEUM OF PUBLIC RELATIONS, DIVERSE VOICES FEATURES INTERVIEWS WITH MORE THAN 40 MULTICULTURAL CORPORATE AND PR AGENCY LEADERS. THESE EXECUTIVES, WHO HAVE RISEN TO THE VERY TOP OF THIS DYNAMIC AND VITAL FIELD, SHARE CANDID ANECDOTES DETAILING THE SUCCESSES THEY HAVE HAD, THE OBSTACLES THEY HAVE HAD TO OVERCOME AND THE LESSONS THEY HAVE LEARNED ALONG THE WAY. THE BOOK ALSO HAS TIPS AND LESSONS FOR THOSE ENTERING THE FIELD. 197471 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 AL AR CA FL GA HI IL KS KY MA MD MI MN MS NC ND NH NJ NM NY OK OR PA RI SC TN UT VA WI WV X X X PHILIP T BONAVENTURA 2124601400 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 ANTONIO HERNANDEZ CRANE PRESIDENT 2.00 0.00 X X 0 0 0 NATAN EDELSBURG SECRETARY 2.00 0.00 X X 0 0 0 YOLANDA BENSON TREASURER 2.00 0.00 X X 0 0 0 AMBER ARNOLD TRUSTEE 2.00 0.00 X 0 0 0 ANDREA RICHARDSON TRUSTEE 2.00 0.00 X 0 0 0 BETTY HUDSON TRUSTEE 2.00 0.00 X 0 0 0 BRAD MACAFEE TRUSTEE 2.00 0.00 X 0 0 0 CAYCE MEYERS TRUSTEE 2.00 2.00 X 0 0 0 CHRISTINA ALFARO TRUSTEE 2.00 0.00 X 0 0 0 DARREL NG TRUSTEE 2.00 0.00 X 0 0 0 FELICIA BLOW TRUSTEE 2.00 2.00 X 0 0 0 HELEN SHELTON TRUSTEE 2.00 0.00 X 0 0 0 JOSEPH ABREU TRUSTEE 2.00 10.00 X 0 0 0 LEAH SEAY ANISE TRUSTEE 2.00 0.00 X 0 0 0 MANNY GONCALVES TRUSTEE 2.00 0.00 X 0 0 0 RAY DAY TRUSTEE 2.00 0.00 X 0 0 0 SHARON FENSTER TRUSTEE 2.00 0.00 X 0 0 0 STEPHANIE MEYERING TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN CHAVEZ TRUSTEE 2.00 0.00 X 0 0 0 TERESA VALERIO PARROT TRUSTEE 2.00 2.00 X 0 0 0 THANIA BENIOS TRUSTEE 2.00 0.00 X 0 0 0 THOMAS BENNETT TRUSTEE 2.00 2.00 X 0 0 0 PHILIP T BONAVENTURA CFO 1.00 40.00 X 0 288917 66015 0 288917 66015 0 0 1 0 0 2000 204646 206646 DIVERSE VOICES BOOKS 513190 929 929 929 11548 11548 219070 238337 -19267 -19267 -19267 MANAGEMENT FEES 541610 7781 7781 MISCELLANEOUS INCOME 900099 766 766 8547 208403 929 0 828 170379 170379 961 961 15000 15000 9894 9894 13096 13096 5019 5019 7308 5981 1327 1052 1052 STATE REGISTRATION FEES 9571 9571 OVERHEAD ALLOCATION 1944 1944 234224 197471 27182 9571 559605 209229 285707 282243 3500 2500 259 7263 565533 681320 0 15731 1414604 1198286 18553 15238 35454 35454 309764 0 363771 50692 X 449967 457808 600866 689786 1050833 1147594 1414604 1198286 -25821 122582 0 X X 0 1 X 1 0 X 347952 277240 244282 379187 206646 1455307 347952 277240 244282 379187 206646 1455307 283617 1171690 13412 11200 10775 10699 11548 57634 2124 2124 3312 2543 440 2440 8547 17282 1532347 22887 0.76460 0.76290 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 3,011. 2020 AMOUNT: $ 2,200. 2023 AMOUNT: $ 766. MANAGEMENT FEES - 2019 AMOUNT: $ 301. 2020 AMOUNT: $ 343. 2021 AMOUNT: $ 440. 2022 AMOUNT: $ 2,440. 2023 AMOUNT: $ 7,781. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 531490 3500 93844 28500 600334 504233 181555 -136734 17564 531490 435478 79475 14728 25448 504233 296165 55374 98013 14074 435478 268039 2874 35752 10500 296165 0.00000 1.00000 0.00000 0 0 0 X 12312507 122582 11991416 12113998 198509 9894 9894 208403 11977284 11752954 11752954 224330 9894 9894 234224 PART IV, LINE 2B: THE FOUNDATION, AS SUBLESSOR, ENTERED INTO A SUBLEASE AGREEMENT WITH A THIRD PARTY TO LEASE A PORTION OF ITS OFFICE SPACE. UNDER THE TERMS OF THE AGREEMENT, THE SUBLESSEE WAS REQUIRED TO PROVIDE THE FOUNDATION A SECURITY DEPOSIT, WHICH IS HELD IN A SEPARATE BANK ACCOUNT MAINTAINED BY THE FOUNDATION. THE RENTAL INCOME FROM THIS SUBLEASE AGREEMENT IS REPORTED ON THE BOOKS OF THE GUARANTOR OF THE SUBLEASE ARRANGEMENT. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF VARIOUS INDIVIDUAL FUNDS ESTABLISHED BY DONORS AS GIFTS TO BE HELD IN PERPETUITY, THE INCOME ON WHICH IS TO BE USED TO FUND SCHOLARSHIPS. PART X, LINE 2: THE FOUNDATION FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES WHICH PROVIDES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. USING THIS GUIDANCE, AN ENTITY MAY RECOGNIZE A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION IN ITS FINANCIAL STATEMENTS ONLY IF IT IS MORE LIKELY-THAN-NOT (I.E. A LIKELIHOOD OF MORE THAN 50%) THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS DETERMINED THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2023. TAX YEARS SINCE 2020 REMAIN OPEN TO EXAMINATION. THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF RELATED ORG. INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 11,991,416. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF RELATED ORG. INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 11,752,954. 1 SCHOLARSHIPS/AWARDS 41 133700 STUDENT SPONSORSHIPS 311 36679 PART I, LINE 2: SCHOLARSHIPS AND AWARD PAYMENTS ARE MADE DIRECTLY TO THE SELECTED RECIPIENTS' SCHOOL BURSAR OFFICES WITH A LETTER INSTRUCTING THEM TO APPLY THE FUNDS TOWARDS THE STUDENT'S TUITION. STUDENT SPONSORSHIPS: SPONSORSHIPS OF STUDENTS' PRSA MEMBERSHIP FEES AND STUDENT ATTENDANCE AT THE PRSA INTERNATIONAL CONFERENCE WAS PAID DIRECTLY TO PRSA FOR THESE FEES 0 0 0 0 0 0 0 0 0 PHILIP T BONAVENTURA CFO 0 287729 0 0 0 1188 0 43500 0 22515 0 354932 0 0 FORM 990, PART VI, SECTION A, LINE 3 PUBLIC RELATIONS SOCIETY OF AMERICA, INC. PROVIDES MANAGEMENT SERVICES TO THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A MEMBERSHIP ORGANIZATION WITH ONE MEMBER, PUBLIC RELATIONS SOCIETY OF AMERICA, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF THE ORGANIZATION ELECTS THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING GOVERNANCE DECISIONS ARE RESERVED TO THE MEMBER: 1) REMOVAL OF ANY TRUSTEE WITHOUT CAUSE 2) ANY AMENDMENT TO THE CERTIFICATE OF INCORPORATION, BY-LAWS OR MISSION STATEMENT OF THE ORGANIZATION 3) APPROVAL OF A PLAN OF MERGER OR CONSOLIDATION OF THE CORPORATION, OR DISSOLUTION OF THE CORPORATION 4) APPROVAL OF THE SALE, MORTGAGE, LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DETAIL BY THE AUDIT COMMITTEE WITH A RECOMMENDATION TO THE BOARD TO APPROVE FILING THE FORM 990. A COPY OF THE FORM 990 IS ALSO PROVIDED TO EACH MEMBER OF THE BOARD ELECTRONICALLY, AND A FULL DISCUSSION IS CONDUCTED AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 12C PRSA FOUNDATION BOARD MEMBERS AND OFFICERS ARE REQUIRED TO DISCLOSE ACTUAL AND POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. THE BOARD OF TRUSTEES WILL DETERMINE WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, AND WHETHER OR NOT SUCH CONFLICT MATERIALLY AND ADVERSELY AFFECTS THE INTERESTS OF THE PRSA FOUNDATION. A COVERED OFFICIAL WHOSE POTENTIAL CONFLICT IS UNDER REVIEW DOES NOT DEBATE, VOTE OR OTHERWISE PARTICIPATE IN SUCH DETERMINATION ONCE THE POTENTIAL CONFLICT IS DISCLOSED. IF THE BOARD OF TRUSTEES DETERMINES AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST DOES EXIST, THE BOARD WILL DETERMINE AN APPROPRIATE REMEDY. DISCUSSIONS CONCERNING CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 IN RESPONSE TO A WRITTEN OR IN-PERSON REQUEST, A COPY OF THE REQUESTED TAX FORM(S), GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS IS PROVIDED TO THE REQUESTER. IF THE REQUEST FOR COPIES IS MADE IN PERSON, A COPY OF THE REQUESTED DOCUMENT(S) WILL GENERALLY BE PROVIDED ON THE DAY OF THE REQUEST; IF THE REQUEST IS WRITTEN, THEN THE PRSA FOUNDATION FORWARDS A COPY OF THE REQUESTED TAX FORM(S) OR GOVERNING DOCUMENT(S) WITHIN THIRTY DAYS. THE FORM 990 IS AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PUBLIC RELATIONS SOCIETY OF AMERICA INC 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 131582190 IMPROVING PUBLIC RELATIONS PROFESSION NY 501(C)(6) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0