Foundation for Free Enterprise Education

aka Pennsylvania Free Enterprise Week/The Stock Market Game/Speaker Series   |   Erie, PA   |  http://pfew.org

Mission

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 learning experiences.

Ruling year info

1981

Principal Officer

Ms. Karen M. Musante

Main address

3076 W 12th Street

Erie, PA 16505 USA

Show more contact info

EIN

25-1394365

NTEE code info

Youth Development Programs (O50)

Business, Youth Development (O53)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Pennsylvania Free Enterprise Week

PFEW is a week-long immersion in business on a college campus that provides students the unique opportunity of operating fictitious manufacturing companies using a computer model developed and licensed specifically for FFEE. Participants form teams of approximately 18 students and one volunteer business executive-on-loan who become management teams of underperforming companies in direct competition with other student companies. A computer simulation requires each group to determine through 12 business quarters its selling prices, marketing costs, production budgets, research and development, banking decisions and more; in short, most of the decisions that managing a business typically requires. Teams are responsible for two formal judged presentations at the end of the week that test their understanding of everything they learned.

Students are mentored by volunteer business executives throughout the week and are encouraged to unleash skills and potential talents hidden until PFEW. Because students are not grouped with friends, classmates or even others from their area, they are free to be the best they can be and not hold back on ideas, talents, and skills. This unique collaboration between students and private sector volunteers provides a learning environment not found in traditional schooling. Students learn by doing. PFEW enables participants to learn how a business operates, and provides an environment where critical thinking, communication, leadership, and other skills vital to future success are developed.

Population(s) Served
Adolescents

Where we work

Awards

National Award for Excellence in Economic Education 1987

Freedom's Foundation of Valley Forge

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

1. Educate students about the American Free Enterprise System and their role in it.
2. Provide an environment for students to examine different career paths.
3. Provide extensive training on business financial statements, management issues, business ethics, etc.
4. Allow students the opportunity to meet and work with business leaders from all regions of Pennsylvania.
5. Address effective workforce development by opening participants' eyes to Pennsylvania careers.

PFEW excites students about free enterprise, teamwork, finance, advertising and giving back. Many graduates state that they have leadership and communication skills they never tapped into before. Most students tell us they have learned more during their week than they have in a classroom for an entire year. Students are mentored by volunteer business executives and encouraged to unleash skills and potential talents hidden until PFEW. Because students are not grouped with friends, classmates or even others from their area, they are free to be the best they can be and not hold back on ideas, talents, skills, etc. The number of adults willing to give of their time, talent and sponsorship to help these students learn about free enterprise always has a lasting impression on them. PFEW graduates not only stay in school but a large majority go on to college. Graduates are also awarded scholarships from our host colleges should they choose to attend one of those colleges.

PFEW seeks to provide Pennsylvania's high school youth with education that they cannot receive elsewhere. Some of PFEW's educational goals are to:
1. Educate students about the American Free Enterprise System and their role in it.
2. Provide an environment for students to examine different career paths.
3. Provide extensive training on business financial statements, management issues, business ethics, etc.
4. Allow students the opportunity to meet and work with business leaders from all regions of Pennsylvania.
5. Address effective workforce development by opening participants' eyes to Pennsylvania careers.

Pennsylvania Free Enterprise Week has from its start filled what many see as a gap in public schooling. The State Board of Education does not require training in economics. Although most school districts offer economics courses, they are typically a one-semester elective and most students still graduate from high school with little or no economic education.

Pennsylvania Free Enterprise Week provides a practical, hands-on experience, not found in any other business education program. PFEW offers this unique opportunity to all interested Pennsylvania high school sophomores or juniors. Minority students are strongly encouraged to apply for this program. The high school principal endorses his/her students and the final selection, based on funding in that area, is made by the PFEW staff.

Over 2,100 students and 250 business executives from across the Commonwealth now participate in the program each year. To date, nearly 46,000 young Pennsylvanians have benefited from this unique concept in economic education and, in 1987, PFEW was the proud recipient of the Freedom's Foundation of Valley Forge's National Award for Excellence in Economic Education.

Financials

Foundation for Free Enterprise Education
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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Foundation for Free Enterprise Education

Board of directors
as of 3/3/2021
SOURCE: Self-reported by organization
Board chair

Mr. Russell P. Brooks

R. P Brooks & Associates

Term: 2017 - 2020

Raymond Dee

Service Center Metals

Kevin Davis

The Davis Group (Ret.)

Patricia Baun

Central Property Appraisal, Inc.

Jon Whiteman

Morris Coupling Company (Ret.)

Gene Barr

Pennsylvania Chamber of Business and Industry

Russell Brooks

R.P. Brooks & Associates LLC

David Campbell

Benjamin Obdyke Inc.

Rudy Frank

Swagelok Pittsburgh

Gary Goss

Verizon (Ret.)

Chad Amond

Westmoreland Chamber of Commerce

Vincent Matteo

Williamsport-Lycoming Chamber of Commerce (Ret.)

Ryan Newman

Goldman, Sachs & Co.

Darlene Robbins

Northeast Pennsylvania Manufacturers & Employers Association

Nick Scott

Scott Enterprises

Kevin Shivers

Pennsylvania Association of Community Bankers

Clark Shuster

Graceful Senior Solutions

Dennis Doll

Reliance Bank

Scott Wyman

FirstEnergy Corp.

David Taylor

Pennsylvania Manufacturers' Association

Robert Wetzel

Emeritus Board Member

Lawrence Rybacki

Emeritus Board Member

Susan Staub

Emeritus Board Member

Kevin Robins

MidAtlantic Employers Association

Jacob Rouch

Erie Regional Chamber and Growth Partnership

Joseph Hurd

Blair County Chamber of Commerce

Karen Musante

Foundation for Free Enterprise Education

Katie Clarke

LeTort Trust

Robert Durkin

The Greater Scranton Chamber of Commerce

Jason Fink

Williamsport/Lycoming Chamber of Commerce

Lowman Henry

Pennsylvania Manufacturers' Association

Mark Karenchak

Snyder Associated Companies

Thomas Palisin

The Manufacturers' Association

Wico van Genderen

Greater Wilkes-Barre Chamber of Commerce

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes