Nonprofit · EIN 25-1394365
FOUNDATION FOR FREE ENTERPRISE EDUCATION
Tax-exempt · ERIE, PA 16505
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $2,278,633 | $1,685,739 | $592,894 | $8,894,735 | $485,206 | $8,409,529 |
| September 30, 2024 | 990 | $2,107,197 | $1,538,563 | $568,634 | $7,935,592 | $444,602 | $7,490,990 |
| September 30, 2023 | 990 | $1,879,469 | $1,420,756 | $458,713 | $6,450,985 | $421,069 | $6,029,916 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $1,374,265
- Program service revenue
- $600,772
- Investment income
- $303,596
- Net gain from sales of assets
- $5,893
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $197,897
- Other salaries and wages
- $559,875
- Salaries, compensation and benefits (total)
- $908,770
- Professional fundraising fees
- $0
- Legal fees
- $875
- Accounting fees
- $15,000
- Occupancy
- $3,761
- Depreciation
- $35,154
- Program services (functional)
- $920,761
- Management and general (functional)
- $541,447
- Fundraising (functional)
- $223,531
Balance sheet and other
- Total assets, start of year
- $7,935,592
- Total assets, end of year
- $8,894,735
- Total liabilities, end of year
- $485,206
- Net assets, end of year
- $8,409,529
- Land, buildings and equipment
- $409,194
- Publicly traded securities
- $7,759,589
- Net assets without donor restrictions
- $7,936,605
- Net assets with donor restrictions
- $472,924
- Gross receipts
- $4,087,643
- Employees
- 36
- Volunteers
- 165
- Year formed
- 1979
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN M MUSANTE | PRESIDENT & CEO Officer | 40 | $170,566 | $21,036 |
| CHAD M AMOND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DARLENE J ROBBINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID A CAMPBELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID N TAYLOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GARY M GOSS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GEORGE M BOOK JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMES KILGALLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON C FINK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JON G WHITEMAN | VICE CHAIRMAN/ASSISTANT TR Trustee or director, Officer | 1 | $0 | $0 |
| JOSEPH D HURD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATIE E CLARKE | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN SHIVERS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN W DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE P WHERRITY | DIRECTOR Trustee or director | 1 | $0 | $0 |
16 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LAWRENCE E RYBACKI | EMERITUS DIRECTOR Trustee or director | 1 | $0 |
| LINDSAY GRIFFIN-BOYLAN | DIRECTOR Trustee or director | 1 | $0 |
| LOWMAN S HENRY | SECRETARY Trustee or director, Officer | 1 | $0 |
| MARK A KARENCHAK | DIRECTOR Trustee or director | 1 | $0 |
| MARK J PIETRUSINSKI | DIRECTOR Trustee or director | 1 | $0 |
| NICK N SCOTT JR | DIRECTOR Trustee or director | 1 | $0 |
| PATRICIA A BAUN | DIRECTOR Trustee or director | 1 | $0 |
| PAUL J WARD ESQ | TREASURER Trustee or director, Officer | 1 | $0 |
| ROBERT J WETZEL ESQ | EMERITUS DIRECTOR Trustee or director | 1 | $0 |
| RUDOLPH D FRANK | DIRECTOR Trustee or director | 1 | $0 |
| RUSSELL P BROOKS | IMMEDIATE PAST CHAIRMAN Trustee or director, Officer | 1 | $0 |
| RYAN L NEWMAN | DIRECTOR Trustee or director | 1 | $0 |
| THOMAS PALISIN | DIRECTOR Trustee or director | 1 | $0 |
| CARL A MARRARA | DIRECTOR Trustee or director | 1 | $0 |
| TARA MURRAY | DIRECTOR Trustee or director | 1 | $0 |
| NEAL R LESHER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended September 30, 2024: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN M MUSANTE | PRESIDENT & CEO Officer | 40 | $167,094 | $20,408 |
| CHAD M AMOND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DARLENE J ROBBINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID A CAMPBELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID N TAYLOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GARY M GOSS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GENE BARR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GEORGE M BOOK JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMES KILGALLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON C FINK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JON G WHITEMAN | VICE CHAIRMAN/ASSISTANT TR Trustee or director, Officer | 1 | $0 | $0 |
| JOSEPH D HURD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATIE E CLARKE | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN SHIVERS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN W DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE P WHERRITY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LAWRENCE E RYBACKI | EMERITUS DIRECTOR Trustee or director | 1 | $0 | $0 |
| LINDSAY GRIFFIN-BOYLAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LOWMAN S HENRY | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MARK A KARENCHAK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK J PIETRUSINSKI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NICK N SCOTT JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PATRICIA A BAUN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL J WARD ESQ | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT J WETZEL ESQ | EMERITUS DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUDOLPH D FRANK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUSSELL P BROOKS | IMMEDIATE PAST CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| RYAN L NEWMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT R WYMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS PALISIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVIE J GILMOUR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CARL A MARRARA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TARA MURRAY | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2023: 31 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN M MUSANTE | PRESIDENT & CEO Officer | 40 | $165,809 | $19,800 |
| VINCENT J MATTEO | IMMEDIATE PAST CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| JAMES KILGALLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID A CAMPBELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID N TAYLOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GARY M GOSS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GENE BARR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON C FINK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOSEPH D HURD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEVIN W DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK A KARENCHAK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DARLENE J ROBBINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE P WHERRITY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GEORGE M BOOK JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL J WARD ESQ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS PALISIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT R WYMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUDOLPH D FRANK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK J PIETRUSINSKI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHAD M AMOND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PATRICIA A BAUN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NICK N SCOTT JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LINDSAY GRIFFIN-BOYLAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RYAN L NEWMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LAWRENCE E RYBACKI | EMERITUS DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT J WETZEL ESQ | EMERITUS DIRECTOR Trustee or director | 1 | $0 | $0 |
| RUSSELL P BROOKS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| LOWMAN S HENRY | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN SHIVERS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JON G WHITEMAN | VICE CHAIRMAN/ASSISTANT TR Trustee or director, Officer | 1 | $0 | $0 |
| KATIE E CLARKE | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3076 W 12TH ST, ERIE, PA 16505-3857
- In care of
- % KAREN M MUSANTE
- Principal officer (990 for 2024)
- KAREN M MUSANTE, 3076 WEST 12TH STREET, ERIE, PA 16505
- Signed the 990
- KAREN M MUSANTE, PRESIDENT AND CEO
- Phone
- (814) 833-9576
- Website
- WWW.PFEW.ORG
- Return prepared by
- MCGILL POWER BELL & ASSOC LLP
Mission
SEE PROGRAM SERVICE ACCOMPLISHMENTS BELOW
Program accomplishments
- 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.Expenses $920,761 · revenue $600,772
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 25-1394365
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1981
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Youth development (O53I)
- Assets (IRS master file)
- $8,894,735
- Income (IRS master file)
- $4,087,643
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $2,278,633 | $1,685,739 | $8,894,735 | XML |
| 990 | September 2024 | $2,107,197 | $1,538,563 | $7,935,592 | XML |
| 990 | September 2023 | $1,879,469 | $1,420,756 | $6,450,985 | XML |
| 990 | September 2022 | $1,865,641 | $1,353,168 | $5,614,586 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 25-1394365).
Questions about FOUNDATION FOR FREE ENTERPRISE EDUCATION
- What is the EIN of FOUNDATION FOR FREE ENTERPRISE EDUCATION?
- The employer identification number (EIN) of FOUNDATION FOR FREE ENTERPRISE EDUCATION is 25-1394365.
- Is FOUNDATION FOR FREE ENTERPRISE EDUCATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
- Are donations to FOUNDATION FOR FREE ENTERPRISE EDUCATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION FOR FREE ENTERPRISE EDUCATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOUNDATION FOR FREE ENTERPRISE EDUCATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION FOR FREE ENTERPRISE EDUCATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of FOUNDATION FOR FREE ENTERPRISE EDUCATION?
- The 990 for the year ended September 30, 2025 names KAREN M MUSANTE.
- Who are the officers and directors of FOUNDATION FOR FREE ENTERPRISE EDUCATION?
- The 990 for the year ended September 30, 2025 lists 31 people; 1 received compensation from the organization, the highest $170,566 (KAREN M MUSANTE, PRESIDENT & CEO).
- How much revenue does FOUNDATION FOR FREE ENTERPRISE EDUCATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $2,278,633, expenses of $1,685,739 and total assets of $8,894,735 at year end.
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