2026-06-03T06:54:34-05:00 2025-09-30 251031405 MCGILL POWER BELL & ASSOC LLP 2402 W 8TH STREET ERIE PA 16505 990 2024-10-01 251394365 FOUNDATION FOR FREE ENTERPRISE EDUCATION FOUN 8148339576 3076 WEST 12TH STREET ERIE PA 16505 KAREN M MUSANTE PRESIDENT AND CEO 8148339576 2026-05-19 1 0 MATTHEW C ZINNA P02394873 8144536594 2024 2025-03-06 01:10:19Z KAREN M MUSANTE 3076 WEST 12TH STREET ERIE PA 16505 4087643 0 X WWW.PFEW.ORG X 1979 PA TO HEIGHTEN THE AWARENESS OF PENNSYLVANIA'S YOUTH ABOUT THEIR FUTURE ROLE IN THE AMERICAN FREE ENTERPRISE SYSTEM BY DELIVERING HIGH-QUALITY AND PRACTICAL HANDS-ON EDUCATIONAL EXPERIENCES. THE FOUNDATION ALSO BECAME THE EXCLUSIVE PENNSYLVANIA COORDINATOR FOR THE STOCK MARKET GAME (SMG). SMG IS AN INTERNATIONALLY ACCLAIMED INTERACTIVE IN-SCHOOL PROGRAM THAT TEACHES STUDENTS IN GRADES 4-12 ABOUT GLOBAL CAPITAL MARKETS, INVESTING AND PERSONAL FINANCE. 28 28 36 165 0 0 1275185 1374265 546671 600772 285341 303596 0 0 2107197 2278633 0 0 0 0 837196 908770 0 0 223531 701367 776969 1538563 1685739 568634 592894 7935592 8894735 444602 485206 7490990 8409529 X SEE PROGRAM SERVICE ACCOMPLISHMENTS BELOW 0 0 920761 600772 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. 920761 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 10 0 1 36 1 0 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KAREN M MUSANTE 8148339576 3076 WEST 12TH STREET ERIE PA 16505 CHAD M AMOND DIRECTOR 1.00 X 0 0 0 DARLENE J ROBBINS DIRECTOR 1.00 X 0 0 0 DAVID A CAMPBELL DIRECTOR 1.00 X 0 0 0 DAVID N TAYLOR DIRECTOR 1.00 X 0 0 0 GARY M GOSS DIRECTOR 1.00 X 0 0 0 GEORGE M BOOK JR DIRECTOR 1.00 X 0 0 0 JAMES KILGALLON DIRECTOR 1.00 X 0 0 0 JASON C FINK DIRECTOR 1.00 X 0 0 0 JON G WHITEMAN VICE CHAIRMAN/ASSISTANT TR 1.00 X X 0 0 0 JOSEPH D HURD DIRECTOR 1.00 X 0 0 0 KATIE E CLARKE VICE CHAIRPERSON 1.00 X X 0 0 0 KEVIN SHIVERS CHAIRMAN 1.00 X X 0 0 0 KEVIN W DAVIS DIRECTOR 1.00 X 0 0 0 KYLE P WHERRITY DIRECTOR 1.00 X 0 0 0 LAWRENCE E RYBACKI EMERITUS DIRECTOR 1.00 X 0 0 0 LINDSAY GRIFFIN-BOYLAN DIRECTOR 1.00 X 0 0 0 LOWMAN S HENRY SECRETARY 1.00 X X 0 0 0 MARK A KARENCHAK DIRECTOR 1.00 X 0 0 0 MARK J PIETRUSINSKI DIRECTOR 1.00 X 0 0 0 NICK N SCOTT JR DIRECTOR 1.00 X 0 0 0 PATRICIA A BAUN DIRECTOR 1.00 X 0 0 0 PAUL J WARD ESQ TREASURER 1.00 X X 0 0 0 ROBERT J WETZEL ESQ EMERITUS DIRECTOR 1.00 X 0 0 0 RUDOLPH D FRANK DIRECTOR 1.00 X 0 0 0 RUSSELL P BROOKS IMMEDIATE PAST CHAIRMAN 1.00 X X 0 0 0 RYAN L NEWMAN DIRECTOR 1.00 X 0 0 0 THOMAS PALISIN DIRECTOR 1.00 X 0 0 0 CARL A MARRARA DIRECTOR 1.00 X 0 0 0 TARA MURRAY DIRECTOR 1.00 X 0 0 0 NEAL R LESHER DIRECTOR 1.00 X 0 0 0 KAREN M MUSANTE PRESIDENT & CEO 40.00 X 170566 0 21036 170566 0 21036 1 0 1 0 0 1374265 26701 1374265 REGISTRATION FEES 611710 595283 595283 OTHER INCOME 611710 5489 5489 600772 297703 297703 1814903 1809010 5893 5893 5893 2278633 600772 0 303596 197897 66057 82297 49543 559875 285537 169124 105214 50317 23643 17044 9630 44661 20985 15128 8548 56020 24370 20819 10831 875 875 15000 15000 54119 54119 53574 170 36137 17267 37479 7239 16625 13615 13559 473 13086 3761 3761 46496 25546 17198 3752 250 250 35154 35154 20412 20412 STUDENT ROOM AND BOARD 427881 427881 COMPANY ADVISORS 37479 37479 CONTRACT LABOR 16217 1381 9705 5131 14713 14713 1685739 920761 541447 223531 556660 637187 276822 18122 30939 35783 30280 34860 662192 252998 411681 409194 6629210 7759589 7935592 8894735 444602 485206 444602 485206 X 7055552 7936605 435438 472924 7490990 8409529 7935592 8894735 592894 324940 705 0 X X 0 1 X 1 0 X 1558761 1197846 1275261 1275185 1374265 6681318 1558761 1197846 1275261 1275185 1374265 6681318 414468 6266850 122583 284626 223737 240444 297703 1169093 7850411 2492407 0.79830 0.79180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 314927 1000 31312 9904 2042 335293 253397 11155 62120 9904 1841 314927 215086 20305 25164 5560 1598 253397 257736 12014 -45037 7500 2127 215086 192808 36723 34312 5000 1107 257736 0 0 143318 143318 355789 140836 214953 163085 112162 50923 409194 4524434 324940 1974980 2299920 2224514 54119 54119 2278633 3606600 1974980 1974980 1631620 54119 54119 1685739 PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO PROVIDE FINANCIAL SUPPORT TO THE FOUNDATION FOR OPERATIONS AND CAPITAL PROJECTS. SCHEDULE D, PART X, LINE 2: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. X X X X 0 0 0 0 0 0 0 0 0 KAREN M MUSANTE PRESIDENT & CEO 147051 0 19765 0 3750 0 15133 0 5903 0 191602 0 0 0 AMBER GOSS GRANDAUGHTER OF A BOARD MEMBER 71781 EMPLOYMENT 0 X 11889 FMV X 1736 FMV X SUPPLIES 0 7933 FMV X TRANSPORTATION 0 1716 FMV X FACILTY FOR BANQUET 0 1500 FMV X SOFTWARE 0 1230 FMV X GIFTCARDS 0 550 FMV X HOTEL 0 147 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS DISTRIBUTED ELECTRONICALLY TO ALL BOARD MEMBERS FOR REVIEW AND/OR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND KEY EMPLOYEES ANNUALLY COMPLETE AND SUBMIT A WRITTEN QUESTIONNAIRE CONCERNING ANY POSSIBLE CONFLICTS OF INTEREST. THESE QUESTIONNAIRES, ALONG WITH A STATEMENT OF DECLARATION, ARE MAINTAINED IN THE FOUNDATION'S CORPORATE RECORDS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REGULARLY RESEARCHES AND OBTAINS SALARY/COMPENSATION INFORMATION OF CEOS OF COMPARABLE ORGANIZATIONS (SIZE, SCOPE, PURPOSE) WHEN DELIBERATING ANNUAL COMPENSATION PACKAGE FOR CEO. THIS INFORMATION IS DISSEMINATED TO AND DISCUSSED WITH BOTH THE EXECUTIVE COMPENSATION COMMITTEE AND THE EXECUTIVE COMMITTEE OF THE ORGANIZATION FOR REVIEW AND SUBSEQUENT DETERMINATION OF SALARY/BENEFIT CHANGES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS COMMUNICATES INFORMATION TO THE INDEPENDENT AUDITORS CONCERNING POSSIBLE RISKY AREAS AND INSTANCES OR SUSPICIONS OF FRAUD. THE AUDITORS COMMUNICATE WITH THE BOARD OF DIRECTORS DURING THE PLANNING AND CONCLUSION STAGES OF THE AUDIT. THERE HAVE BEEN NO CHANGES IN THE OVERSIGHT OF THE AUDITORS SINCE THE PRIOR YEAR.