Philadelphia Foundation
- Assets
- $669.2m
- Revenue
- $72.7m
- Investments
- $173.7m
- Employees
- 37
- Location
- Philadelphia, PA
- Founding
- 02/1990
- Data as of
- 12/2021
- EIN
- 23-1581832
Organization Overview
Philadelphia Foundation is located in Philadelphia, PA. The organization was established in 1990. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Philadelphia Foundation employed 37 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Philadelphia Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Philadelphia Foundation generated $72.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $61.2m during the year ending 12/2021. While expenses have increased by 10.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Philadelphia Foundation has awarded 6,311 individual grants totaling $255,112,020. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY FOUNDATION STRENGTHENS THE ECONOMIC, SOCIAL & CIVIC VITALITY OF GREATER PHILADELPHIA.
Describe the Organization's Program Activity:
SEE SCHEDULE O.1. CIVIC LEADERSHIP: WE LEAD AND PARTICIPATE IN CIVIC AND PHILANTHROPIC PARTNERSHIPS WITH REGIONAL AND NATIONAL FUNDERS AS WELL AS ORGANIZATIONS LOCALLY AND THROUGHOUT THE STATE. THESE RELATIONSHIPS BRING PEOPLE TOGETHER TO DISCUSS THE COMMON GOOD, AMPLIFY THE VOICES OF THOSE IN NEED, HIGHLIGHT EFFECTIVE SOLUTIONS AND GALVANIZE COLLABORATIVE ACTION WITH THE BUSINESS, EDUCATION AND GOVERNMENT SECTORS TO STRENGTHEN THE COMMUNITY. 2. GRANTMAKING AND PROGRAMS: WE DEPLOY PHILANTHROPIC DOLLARS TO THE COMMUNITY IN THE FORM OF GRANTS, SCHOLARSHIPS AND PROGRAMS, ADHERING TO THE DIRECTION AND/OR DISCRETION ENTRUSTED TO US BY OUR DONORS. DISCRETIONARY GRANTS ADDRESS BROAD COMMUNITY CONCERNS AND OPPORTUNITIES, WITH AN EMPHASIS ON VULNERABLE POPULATIONS AND THE INFRASTRUCTURE AND LEADERSHIP OF ORGANIZATIONS THAT SERVE THEM. MOST DISCRETIONARY GRANTS ARE IN THE FORM OF UNRESTRICTED GENERAL OPERATING SUPPORT. 3. ENGAGED PHILANTHROPY: WE SERVE AS THE VEHICLE FOR PHILANTHROPIC GIVING IN THE COMMUNITY, OFFERING SEVERAL TYPES OF LIFETIME AND LEGACY GIVING FOR INDIVIDUALS, NONPROFITS, CORPORATIONS, FOUNDATIONS AND PROFESSIONAL ADVISORS. WE PARTNER WITH COMMUNITY MEMBERS ON THEIR CUSTOMIZED STRATEGIC GIVING PLANS. PROGRAMS TO INSPIRE COMMUNITY SUPPORT INCLUDE AN ART GALLERY, SITE VISITS AND PRESENTATIONS HIGHLIGHTING EFFECTIVE NONPROFITS. THE PHILADELPHIA FOUNDATION ADDRESSED URGENT NEEDS ACROSS THE GREATER PHILADELPHIA REGION IN 2021, MAKING OVER $75M IN GRANTS FROM ITS FUNDS AND THOSE OF ITS SUPPORTING ORGANIZATIONS. THE ORGANIZATION CONTINUED TO SERVE AS A KEY CIVIC LEADER IN DEVELOPING AND IMPLEMENTING PARTNERSHIP INITIATIVES TO ADVANCE RACIAL EQUITY; PROVIDED RAPID RELIEF TO COMMUNITIES IMPACTED BY HURRICANE IDA; AND FOSTERED REGIONAL CORPORATE VOLUNTEERISM. THE FOUNDATION'S PHL COVID-19 FUND, WHICH RAISED AND DISTRIBUTED $18.5M DURING 2020 AND 2021, PROVIDED SEVERAL ROUNDS OF GRANTS IN 2021 TO ANCHOR NONPROFITS SERVING DISPROPORTIONATELY AFFECTED POPULATIONS ACROSS THE REGION. THE FOUNDATION ALSO SUCCESSFULLY COMPLETED THE TRANSITION OF A PREVIOUSLY PRIVATE FOUNDATION TO AN LLC UNDER THE AUSPICES OF THE PHILADELPHIA FOUNDATION, PRESERVING THE LONG-TERM COMMITMENT OF THIS ENDOWMENT TO SUPPORT SUSTAINABLE, RESIDENT LED NEIGHBORHOOD DEVELOPMENT IN EASTERN PENNSYLVANIA, NEW JERSEY, AND DELAWARE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pedro A Ramos President & Ceo, Secretary | Officer | 35 | $385,346 |
Lois Gabin-Legato Chief Advancement Officer | 35 | $213,459 | |
Orlando Esposito Chief Financial Officer | Officer | 35 | $201,289 |
Jack Wagner Executive Dir. Financial Svcs. | 35 | $159,306 | |
Helen Booth Chief Of Staff | 35 | $135,008 | |
Philip Fitzgerald Director Grantmaking In Program | 35 | $121,664 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Montgomery Mccracken Legal Services | 12/30/21 | $298,283 |
Mayoseitz Media Program Services | 12/30/21 | $225,450 |
Xplora Search Group Inc Contracted Services | 12/30/21 | $223,939 |
John Otting Contract Consultant | 12/30/21 | $126,750 |
Crewcial Partners Llc Consulting Services | 12/30/21 | $206,790 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $390,388 |
| Government grants | $428,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,180,016 |
| Noncash contributions included in lines 1a–1f | $4,114,375 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,999,041 |
| Total Program Service Revenue | $778,481 |
| Investment income | $11,964,670 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $156,918 |
| Net Gain/Loss on Asset Sales | $27,785,538 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,684,648 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,920,325 |
| Grants and other assistance to domestic individuals. | $970,786 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $708,802 |
| Compensation of current officers, directors, key employees. | $482,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,917,360 |
| Pension plan accruals and contributions | $191,932 |
| Other employee benefits | $175,805 |
| Payroll taxes | $170,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $201,076 |
| Fees for services: Accounting | $145,129 |
| Fees for services: Lobbying | $50,010 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,588,560 |
| Fees for services: Other | $1,382,833 |
| Advertising and promotion | $67,063 |
| Office expenses | $57,092 |
| Information technology | $304,940 |
| Royalties | $0 |
| Occupancy | $241,998 |
| Travel | $899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,690 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,304 |
| Insurance | $54,401 |
| All other expenses | $352,490 |
| Total functional expenses | $61,244,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,111,995 |
| Pledges and grants receivable | $18,427,060 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $162,240 |
| Net Land, buildings, and equipment | $610,134 |
| Investments—publicly traded securities | $458,095,190 |
| Investments—other securities | $173,712,784 |
| Investments—program-related | $3,350,000 |
| Intangible assets | $0 |
| Other assets | $2,746,611 |
| Total assets | $669,216,014 |
| Accounts payable and accrued expenses | $921,930 |
| Grants payable | $9,492,386 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,124,497 |
| Total liabilities | $24,538,813 |
| Net assets without donor restrictions | $612,771,006 |
| Net assets with donor restrictions | $31,906,195 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $669,216,014 |
Grants Awarded
Over the last fiscal year, Philadelphia Foundation has awarded $49,537,782 in support to 695 organizations.
| Grant Recipient | Amount |
|---|---|
Southeastern, PA PURPOSE: DONOR-ADVISED FUNDS | $17,542,431 |
Philadelphia, PA PURPOSE: $799,464 GENERAL OPERATING SUPPORT, $127,999 GENERAL OPERATING SUPPORT FOR THE PERFORMING ARTS, AND $32,277 CLASSICAL STUDIES | $959,741 |
Worcester, PA PURPOSE: LEADERSHIP CAPACITY | $875,000 |
Norristown, PA PURPOSE: GENERAL OPERATING SUPPORT | $815,255 |
Norristown, PA PURPOSE: GENERAL OPERATING SUPPORT | $801,000 |
Providence, RI PURPOSE: ENDOWED FUND FOR THE CENTER FOR THE STUDY OF SLAVERY AND JUSTICE | $500,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Philadelphia Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Raynier Institute & Foundation Wilmington, DE PURPOSE: THE HOWARD A. TRAUGER SCHOLARSHIP FUND | $10,000 |
Endowment Analysis
| Beg. Balance | $409,659,436 |
| Earnings | $49,275,729 |
| Admin Expense | $3,345,449 |
| Net Contributions | $112,750,700 |
| Grants | $20,036,521 |
| Ending Balance | $548,303,895 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For The City Of New York Inc New York, NY | $176,700,276 | $126,437,231 |
Community Foundation Of New Jersey Morristown, NJ | $853,045,584 | $257,903,592 |
Pittsburgh Foundation Pittsburgh, PA | $1,354,368,497 | $110,535,351 |
Philadelphia Foundation Philadelphia, PA | $669,216,014 | $72,684,648 |
Community Foundation For Greater Buffalo Inc Buffalo, NY | $874,380,305 | $143,802,626 |
Dayton Foundation Dayton, OH | $614,105,736 | $82,530,515 |
Jewish Community Foundation Of Greater Metrowest Nj Whippany, NJ | $441,552,124 | $46,022,571 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $45,162,356 | $39,631,208 |
Rochester Area Community Foundation Rochester, NY | $452,673,006 | $59,557,190 |
Delaware Community Foundation Wilmington, DE | $375,445,649 | $92,895,086 |
Baltimore Community Foundation Inc Baltimore, MD | $302,066,491 | $73,158,770 |
Catholic Charities Of Buffalo Buffalo, NY | $41,576,335 | $33,263,179 |