Nonprofit · EIN 46-5768451
DREXEL FUNDS
Tax-exempt · SOUTH BEND, IN 46601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $9,256,327 | $5,722,240 | $3,534,087 | $21,553,287 | $1,763,806 | $19,789,481 |
| December 31, 2023 | 990-PF | $5,246,410 | $3,490,193 | $1,756,217 | $17,453,395 | $1,223,001 | $16,230,394 |
| June 30, 2023 | 990-PF | $2,397,732 | $5,632,442 | -$3,234,710 | $16,789,048 | $2,333,913 | $14,455,135 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $8,922,129
- Interest
- $317,338
- Net gain from sales of assets
- $1,500
- Other income
- $15,360
Expenses
- Grants and similar amounts paid
- $3,716,156
- Compensation of officers, directors and key employees
- $515,782
- Salaries, compensation and benefits (total)
- $461,746
- Disbursements for charitable purposes
- $4,145,979
Balance sheet and other
- Total assets, start of year
- $17,453,395
- Total assets, end of year
- $21,553,287
- Total liabilities, end of year
- $1,763,806
- Net assets, end of year
- $19,789,481
- Fair market value of assets
- $2,428,775
- Qualifying distributions
- $4,145,979
- Net investment income
- $1,500
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-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN ERIKSEN 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | CHAIRMAN | 40 | $275,783 | $12,963 |
| MARK GLEASON 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | MANAGING PARTNER | 40 | $240,000 | $19,790 |
| ERIC OGLESBEE 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | FOUNDERS PROGRAM SEN Highest-paid employee | 40 | $113,106 | $0 |
| NAOMI DEVEAUX 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | PARTNER Highest-paid employee | 40 | $104,991 | $0 |
| AARUSHI PRABHAKAR 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | INVESTMENT DIRECTOR Highest-paid employee | 40 | $98,895 | $0 |
| JEFF KERSCHER 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | PARTNER Highest-paid employee | 40 | $71,667 | $0 |
| HEATHER BOKON 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | DIRECTOR OF OPERATIO Highest-paid employee | 40 | $47,412 | $0 |
| BJ CASSIN 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | CHAIRMAN EMERITUS | 2 | $0 | $0 |
| THOMAS J HEALEY 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | TREASURER | 2 | $0 | $0 |
| NICK HOWLEY 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | TRUSTEE | 2 | $0 | $0 |
| DARREN JACKSON 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | SECRETARY | 2 | $0 | $0 |
| MICHAEL MESSNER 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | TRUSTEE | 2 | $0 | $0 |
| DARLA ROMFO 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | TRUSTEE | 2 | $0 | $0 |
| ABIGAIL SCHUMWINGER 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | TRUSTEE | 2 | $0 | $0 |
| CHRISTOPHER WILSON 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601 | TRUSTEE | 2 | $0 | $0 |
990-PF for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN ERIKSEN 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | MANAGING PARTNER | 40 | $271,777 | $29,934 |
| MARK GLEASON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | PARTNER Highest-paid employee | 40 | $199,642 | $0 |
| ERIC OGLESBEE 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | FOUNDERS PROGRAM DIR Highest-paid employee | 40 | $116,754 | $0 |
| AARUSHI PRABHAKAR 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | INVESTMENT DIRECTOR Highest-paid employee | 40 | $98,019 | $0 |
| HEATHER BOKON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | DIRECTOR OF OPERATIO Highest-paid employee | 40 | $55,786 | $0 |
| BJ CASSIN 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | CHAIRMAN | 2 | $0 | $0 |
| THOMAS J HEALEY 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TREASURER | 2 | $0 | $0 |
| NICK HOWLEY 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| DARREN JACKSON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | SECRETARY | 2 | $0 | $0 |
| MICHAEL MESSNER 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| DARLA ROMFO 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| ABIGAIL SCHUMWINGER 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| CHRISTOPHER WILSON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
990-PF for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN ERIKSEN 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | MANAGING PARTNER | 40 | $267,750 | $26,775 |
| MARK GLEASON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | PARTNER Highest-paid employee | 40 | $171,265 | $0 |
| ERIC OGLESBEE 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | FOUNDERS PROGRAM DIR Highest-paid employee | 40 | $115,500 | $0 |
| AARUSHI PRABHAKAR 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | INVESTMENT DIRECTOR Highest-paid employee | 40 | $97,062 | $0 |
| HEATHER BOKON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | DIRECTOR OF OPERATIO Highest-paid employee | 40 | $55,500 | $0 |
| BJ CASSIN 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | CHAIRMAN | 2 | $0 | $0 |
| THOMAS J HEALEY 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TREASURER | 2 | $0 | $0 |
| NICK HOWLEY 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| DARREN JACKSON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | SECRETARY | 2 | $0 | $0 |
| DARLA ROMFO 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| CHRISTOPHER WILSON 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| MICHAEL MESSNER 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
| ABIGAIL SCHUMWINGER 212 BROADWAY EAST 22777, SEATTLE, WA 98102 | TRUSTEE | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 424 S MICHIGAN ST 1214, SOUTH BEND, IN 46601-4000
- Signed the 990-PF
- MARK GLEASON, MANAGING PARTNER
- Phone
- (908) 612-9108
- Website
- WWW.DREXELFUND.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 46-5768451
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $26,443,435
- Income (IRS master file)
- $11,912,785
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $9,256,327 | $5,722,240 | $21,553,287 | IRS |
| 990-PF | December 2023 | $5,246,410 | $3,490,193 | $17,453,395 | XML |
| 990-PF | June 2023 | $2,397,732 | $5,632,442 | $16,789,048 | XML |
| 990-PF | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 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 46-5768451).
Questions about DREXEL FUNDS
- What is the EIN of DREXEL FUNDS?
- The employer identification number (EIN) of DREXEL FUNDS is 46-5768451.
- Is DREXEL FUNDS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to DREXEL FUNDS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does DREXEL FUNDS file?
- Form 990-PF. Private foundations file every year.
- When is the next return of DREXEL FUNDS due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DREXEL FUNDS last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of DREXEL FUNDS?
- The 990-PF for the year ended December 31, 2024 lists 15 people; 7 received compensation from the organization, the highest $275,783 (JOHN ERIKSEN, CHAIRMAN).
- How much revenue does DREXEL FUNDS have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $9,256,327, expenses of $5,722,240 and total assets of $21,553,287 at year end.
Other nonprofits in SOUTH BEND
- CAREER ACADEMY OF SOUTH BEND INC EIN 27-3113436 · last filed 990 for 2025
- TRINITY SCHOOLS INC EIN 35-1502075 · last filed 990 for 2024
- STANLEY CLARK SCHOOL EIN 35-1019540 · last filed 990 for 2025
- GOODWILL LEADS EIN 47-1473842 · last filed 990 for 2025
- SOUTH BEND HEBREW DAY SCHOOL INC EIN 35-1331725 · last filed 990 for 2025
- GOOD SHEPHERD MONTESSORI SCHOOL INC EIN 04-3673627 · last filed 990 for 2025
- SAINT THOMAS MORE ACADEMY INC EIN 85-3759259 · last filed 990 for 2025
- BRIGHT BEGINNINGS FAMILY CHILDCARE INC EIN 82-4132807 · last filed 990 for 2024