GOLD2023

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.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback, It is difficult to identify actionable feedback

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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lock

Connect with nonprofit leaders

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Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Foundation for Free Enterprise Education

Board of directors
as of 01/19/2023
SOURCE: Self-reported by organization
Board chair

Mr. Vincent Matteo

Retired

Term: 2023 - 2021

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

Kevin Robins

MidAtlantic Employers Association

Joseph Hurd

Blair County Chamber of Commerce

Karen M Musante

Foundation for Free Enterprise Education

Katie E. Clarke

LeTort Trust

Robert F. Durkin

The Greater Scranton Chamber of Commerce

Jason C. Fink

Williamsport/Lycoming Chamber of Commerce

Lowman S. Henry

Pennsylvania Manufacturers' Association

Mark A. Karenchak

Snyder Associated Companies

Thomas Palisin

The Manufacturers' Association

Lindsay Griffin

Greater Wilkes-Barre Chamber of Commerce

Kyle Wherrity

Hauʻoli Marketing & Events

James Kilgallon

Erie Insurance

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? No

Organizational demographics

SOURCE: Self-reported; last updated 5/24/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 03/03/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.