2024-05-06T16:16:59-04:00 2023-06-30 233010968 MILLIGAN & COMPANY LLC 105 N 22ND ST FL 2 PHILADELPHIA PA 191031302 990 2022-07-01 854254020 PHILADELPHIA FINANCIAL SCHOLARS PHIL 201 ROUSE BLVD PHILADELHIA PA 19112 KERRY WOODWARD EXECUTIVE DIRECTOR 2036418581 2024-04-30 true KELLY WOODARD XXX-XX-XXXX false JOHN MILLIGAN CPA P02155323 2154969100 2024-05-06 2022 2023-04-26 12:10:37Z KERRY WOODWARD 201 ROUSE BLVD PHILADELPHIA PA 19112 579823 false X PHILADELPHIA.FINANCIALSCHOLARS.ORG X 2020 PA CREATE A HIGH SCHOOL FINANCIAL LITERACY PROGRAM TO COMBAT POVERTY AND WEALTH INEQUALTY. 19 19 2 142 0 271257 568883 0 0 30 10940 271287 579823 0 0 151067 380936 2500 0 33622 18284 91764 171851 472700 99436 107123 157342 254005 406 21674 156936 232331 X THE MISSION OF PHILADELPHIA FINANCIAL SCHOLARS IS TO COMBAT POVERTY AND WEALTH INEQUALITY IN PHILADELPHIA BY SUPPORTING AND PROVIDING FINANCIAL LITERACY AND ENTREPRENEURSHIP EDUCATION TO PHILADELPHIA HIGH SCHOOL STUDENTS AND THEIR FAMILIES IN UNDERSERVED COMMUNITIES. false false 376677 PHILADELPHIA FINANCIAL SCHOLARS IMPLEMENTS A FOUR-PART STRATEGY TO PROVIDE PHILADELPHIA HIGH SCHOOL STUDENTS AND THEIR FAMILIES WITH THE TOOLS NEEDED TO GENERATE GREATER WEALTH AND ACHIEVE FINANCIAL EMPOWERMENT. THE COMPONENTS OF THE STRATEGY INCLUDE: 1) IN-CLASS PERSONAL FINANCE AND ENTREPRENEURSHIP INSTRUCTION BASED ON A HIGH-QUALITY, STANDARDS-ALIGNED, EVIDENCE-BASED CURRICULUM FROM NEXT GEN PERSONAL FINANCE, AS WELL AS 30 HOURS OF ACT 48-APPROVED, PAID PROFESSIONAL DEVELOPMENT FOR PARTICIPATING TEACHERS TO SUPPORT A NEW HIGH SCHOOL ELECTIVE CLASS CALLED PERSONAL FINANCE & ENTREPRENEURSHIP.; 2) AFTERSCHOOL ENTREPRENEURSHIP ENRICHMENT PROGRAM THAT MOBILIZES PAID UNIVERSITY STUDENTS AND CORPORATE VOLUNTEERS TO SUPPORT STUDENTS IN SMALL GROUP SETTINGS TO REFINE THEIR BUSINESS PLANS AND PITCHES IN PREPARATION FOR A CITYWIDE COMPETITION SERIES; 3) SUMMER BUSINESS INCUBATOR THAT AWARDS TOP HIGH SCHOOL ENTREPRENEURS WITH A PAID SUMMER EMPLOYMENT OPPORTUNITY AT A UNIVERSITY-HOSTED BUSINESS INCUBATOR TO CONTINUE LEARNING ABOUT ENTREPRENEURSHIP AND WORKING TO LAUNCH THEIR BUSINESSES.; AND 4) FINANCIAL EMPOWERMENT ADULT PROGRAM, WHICH OFFERS TWO SIX-WEEK VIRTUAL WORKSHOP SERIES TO PARENTS AND OTHER SCHOOL COMMUNITY MEMBERS. 376677 true true false false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 0 0 false 2 true false false false false false false false false X 19 19 false false false false false false false true true false false true true true false true true true true false X PHILADELPHIA FINANCIAL SCHOLARS 2036418581 201 ROUSE BLVD PHILADELPHIA PA 19112 X KERRY WOODWARD EXECUTIVE DI 40.00 X 154236 0 13000 SEE ATTACHED BOARD MEMBERS LISTING BOARD LIST A X 0 0 0 154236 13000 1 false true false 568883 7680 568883 OTHER INCOME 10940 10940 10940 579823 10940 380936 331197 20225 29514 23536 3130 17906 2500 27035 13304 13701 30 4950 4548 402 10165 10165 AWARDS 10569 10569 EVENTS 7001 5537 1464 MEALS AND FOOD 5954 5954 MISCELLANEOUS 1929 1813 2 114 625 625 472700 376677 62401 33622 156782 206554 43184 560 4267 157342 254005 406 21674 406 21674 X 156936 232331 156936 232331 157342 254005 107123 -31728 X true X false true false X 271257 568883 840140 271257 568883 840140 452502 387638 2 2 840142 10940 X PART II, LINE 10 MISCELLANEOUS 2 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X SCHEDULE D, PAGE 3, PART X INCOME TAXES THE INTERNAL REVENUE SERVICE HAS CLASSIFIED PHILADELPHIA FINANCIAL SCHOLARS AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("CODE"); AS AN ORGANIZATION, CONTRIBUTIONS TO WHICH ARE DEDUCTIBLE UNDER SECTION 170(C) OF THE CODE; AND AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION AS DEFINED IN SECTION 509(A) OF THE CODE. AS A RESULT, NO PROVISION OR LIABILITY FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY, IF PHILADELPHIA FINANCIAL SCHOLARS HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A GOVERNMENT AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY PHILADELPHIA FINANCIAL SCHOLARS AND HAS CONCLUDED THAT AS OF JUNE 30, 2022 THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. X false false false false false false false false false KERRY WOODWARD EXECUTIVE DIRECTOR 114236 40000 13000 167236 FORM 990 - ORGANIZATION'S MISSION THE MISSION OF PHILADELPHIA FINANCIAL SCHOLARS IS TO COMBAT POVERTY AND WEALTH INEQUALITY IN PHILADELPHIA BY SUPPORTING AND PROVIDING FINANCIAL LITERACY AND ENTREPRENEURSHIP EDUCATION TO PHILADELPHIA HIGH SCHOOL STUDENTS AND THEIR FAMILIES IN UNDERSERVED COMMUNITIES. FORM 990, PAGE 2, PART III, LINE 4A PHILADELPHIA FINANCIAL SCHOLARS IMPLEMENTS A FOUR-PART STRATEGY TO PROVIDE PHILADELPHIA HIGH SCHOOL STUDENTS AND THEIR FAMILIES WITH THE TOOLS NEEDED TO GENERATE GREATER WEALTH AND ACHIEVE FINANCIAL EMPOWERMENT. THE COMPONENTS OF THE STRATEGY INCLUDE: 1) IN-CLASS PERSONAL FINANCE AND ENTREPRENEURSHIP INSTRUCTION BASED ON A HIGH-QUALITY, STANDARDS-ALIGNED, EVIDENCE-BASED CURRICULUM FROM NEXT GEN PERSONAL FINANCE, AS WELL AS 30 HOURS OF ACT 48-APPROVED, PAID PROFESSIONAL DEVELOPMENT FOR PARTICIPATING TEACHERS TO SUPPORT A NEW HIGH SCHOOL ELECTIVE CLASS CALLED PERSONAL FINANCE & ENTREPRENEURSHIP.; 2) AFTERSCHOOL ENTREPRENEURSHIP ENRICHMENT PROGRAM THAT MOBILIZES PAID UNIVERSITY STUDENTS AND CORPORATE VOLUNTEERS TO SUPPORT STUDENTS IN SMALL GROUP SETTINGS TO REFINE THEIR BUSINESS PLANS AND PITCHES IN PREPARATION FOR A CITYWIDE COMPETITION SERIES; 3) SUMMER BUSINESS INCUBATOR THAT AWARDS TOP HIGH SCHOOL ENTREPRENEURS WITH A PAID SUMMER EMPLOYMENT OPPORTUNITY AT A UNIVERSITY-HOSTED BUSINESS INCUBATOR TO CONTINUE LEARNING ABOUT ENTREPRENEURSHIP AND WORKING TO LAUNCH THEIR BUSINESSES.; AND 4) FINANCIAL EMPOWERMENT ADULT PROGRAM, WHICH OFFERS TWO SIX-WEEK VIRTUAL WORKSHOP SERIES TO PARENTS AND OTHER SCHOOL COMMUNITY MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B RETURN IS REVIEWED BY BOARD COMMITTEE PRIOR TO BEING FILED. FORM 990, PAGE 6, PART VI, LINE 15A A SEARCH COMMITTEE FROM THE BOARD OF DIRECTORS IS ESTABLISHED FOR TOP ROLES AT THE ORGANIZATION. A REVIEW AND APPROVAL, INCLUDING COMPARABLE COMPENSATION DATA AS WELL AS A REVIEW BY A THIRD-PARTY HR PARTNER, EXUDEHR, IS CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 15B A SEARCH COMMITTEE FROM THE BOARD OF DIRECTORS IS ESTABLISHED FOR TOP ROLES AT THE ORGANIZATION. A REVIEW AND APPROVAL, INCLUDING COMPARABLE COMPENSATION DATA AS WELL AS A REVIEW BY A THIRD-PARTY HR PARTNER, EXUDEHR, IS CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST.