Nonprofit · EIN 85-4254020
PHILADELPHIA FINANCIAL SCHOLARS
Tax-exempt · PHILADELPHIA, PA 19104
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,113,417 | $1,004,905 | $108,512 | $897,170 | $71,444 | $825,726 |
| June 30, 2024 | 990 | $1,102,628 | $617,745 | $484,883 | $795,632 | $78,418 | $717,214 |
| June 30, 2023 | 990 | $579,823 | $472,700 | $107,123 | $254,005 | $21,674 | $232,331 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,111,708
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $1,709
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $223,667
- Other salaries and wages
- $435,833
- Salaries, compensation and benefits (total)
- $711,332
- Professional fundraising fees
- $0
- Legal fees
- $3,672
- Accounting fees
- $33,055
- Travel
- $27,781
- Depreciation
- $4,496
- Program services (functional)
- $790,180
- Management and general (functional)
- $110,057
- Fundraising (functional)
- $104,668
Balance sheet and other
- Total assets, start of year
- $795,632
- Total assets, end of year
- $897,170
- Total liabilities, end of year
- $71,444
- Net assets, end of year
- $825,726
- Net assets without donor restrictions
- $341,383
- Net assets with donor restrictions
- $484,343
- Gross receipts
- $1,113,417
- Employees
- 30
- Volunteers
- 309
- Year formed
- 2020
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KERRY WOODWARD | EXECUTIVE DI Key employee | 40 | $215,697 | $7,970 |
| DANIELLE HERNANDEZ | PROGRAM DIRE Highest-paid employee | 40 | $135,625 | $5,190 |
| SEE ATTACHED BOARD MEMBERS LISTING | BOARD LIST A Trustee or director | – | $0 | $0 |
990 for the year ended June 30, 2024: 2 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KERRY WOODWARD | EXECUTIVE DI Key employee | 40 | $193,196 | $14,040 |
| SEE ATTACHED BOARD MEMBERS LISTING | BOARD LIST A Trustee or director | – | $0 | $0 |
990 for the year ended June 30, 2023: 2 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KERRY WOODWARD | EXECUTIVE DI Key employee | 40 | $154,236 | $13,000 |
| SEE ATTACHED BOARD MEMBERS LISTING | BOARD LIST A Trustee or director | – | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3025 JFK BLVD, PHILADELPHIA, PA 19104-5976
- Principal officer (990 for 2024)
- KERRY WOODWARD, 3025 JFK BLVD 3RD FLOOR, PHILADELPHIA, PA 19112
- Signed the 990
- KERRY WOODWARD, EXECUTIVE DIRECTOR
- Return prepared by
- MILLIGAN & COMPANY LLC
Mission
FINANCIAL SCHOLARS PROVIDES HIGH SCHOOL STUDENTS, TEACHERS, AND FAMILIES WITH THE TOOLS NEEDED TO DEVELOP FINANCIAL SKILLS, BUILD GREATER WEALTH, AND ACHIEVE FINANCIAL EMPOWERMENT.
Program accomplishments
- FINANCIAL SCHOLARS, INC. (THE ORGANIZATION) IMPLEMENTS A FOUR-PART STRATEGY TO PROVIDE 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 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 CREDIT-BEARING HIGH SCHOOL CLASS CALLED PERSONAL FINANCE; 2)INVESTING AND ENTREPRENEURSHIP ENRICHMENT PROGRAMMING THAT MOBILIZES PAID UNIVERSITY STUDENTS AND CORPORATE VOLUNTEERS TO SUPPORT STUDENTS IN SMALL GROUP SETTINGS IN PREPARATION FOR CITYWIDE COMPETITIONS; 3)PAID SUMMER CAREER EXPLORATION INCLUDING A ROTATIONAL LEARNING EXPERIENCESHIP PROGRAM WITH LOCAL CORPORATIONS AND A UNIVERSITY-HOSTED BUSINESS INCUBATOR CAMP; AND 4)FINANCIAL EMPOWERMENT AND FINANCIAL AID ADULT PROGRAMMING, WHICH OFFERS TWO SIX-WEEK VIRTUAL WORKSHOP SERIES AND BONUS SESSIONS TO PARENTS AND OTHER SCHOOL COMMUNITY MEMBERS.Expenses $790,180
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 85-4254020
- 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
- 2022
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B90)
- Assets (IRS master file)
- $897,170
- Income (IRS master file)
- $1,113,417
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,113,417 | $1,004,905 | $897,170 | IRS |
| 990 | June 2024 | $1,102,628 | $617,745 | $795,632 | XML |
| 990 | June 2023 | $579,823 | $472,700 | $254,005 | XML |
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 85-4254020).
Questions about PHILADELPHIA FINANCIAL SCHOLARS
- What is the EIN of PHILADELPHIA FINANCIAL SCHOLARS?
- The employer identification number (EIN) of PHILADELPHIA FINANCIAL SCHOLARS is 85-4254020.
- Is PHILADELPHIA FINANCIAL SCHOLARS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to PHILADELPHIA FINANCIAL SCHOLARS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PHILADELPHIA FINANCIAL SCHOLARS 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 PHILADELPHIA FINANCIAL SCHOLARS due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PHILADELPHIA FINANCIAL SCHOLARS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of PHILADELPHIA FINANCIAL SCHOLARS?
- The 990 for the year ended June 30, 2025 names KERRY WOODWARD.
- Who are the officers and directors of PHILADELPHIA FINANCIAL SCHOLARS?
- The 990 for the year ended June 30, 2025 lists 3 people; 2 received compensation from the organization, the highest $215,697 (KERRY WOODWARD, EXECUTIVE DI).
- How much revenue does PHILADELPHIA FINANCIAL SCHOLARS have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,113,417, expenses of $1,004,905 and total assets of $897,170 at year end.
Other nonprofits in PHILADELPHIA
- TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA EIN 23-1352685 · last filed 990 for 2025
- TEMPLE UNIVERSITY-OF THE COMMONWEALTH SYSTEM OF HIGHER EDUC EIN 23-1365971 · last filed 990 for 2025
- THOMAS JEFFERSON UNIVERSITY EIN 23-1352651 · last filed 990 for 2025
- DREXEL UNIVERSITY EIN 23-1352630 · last filed 990 for 2025
- JEFFERSON UNIVERSITY PHYSICIANS EIN 23-2809585 · last filed 990 for 2025
- SAINT JOSEPHS UNIVERSITY EIN 23-1352674 · last filed 990 for 2025
- TEMPLE UNIVERSITY HEALTH SYSTEM INC EIN 23-2825881 · last filed 990 for 2025
- PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE EIN 23-1355135 · last filed 990 for 2025