The Merchants Fund
- Assets
- $18.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 2
- Location
- Philadelphia, PA
- Founding
- 01/1945
- Data as of
- 12/2021
- EIN
- 23-1584975
Organization Overview
The Merchants Fund is located in Philadelphia, PA. The organization was established in 1945. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Merchants Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merchants Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Merchants Fund has awarded 743 individual grants totaling $6,792,990. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL ASSISTANCE TO CURRENT MERCHANTS IN PHILADELPHIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAKE DIRECT GRANTS TO BUSINESSES, SUPPORTING RETIRED MERCHANTS THROUGH OUR LEGACY PROGRAM, AND OFFERING "BEYOND THE GRANT" SERVICES THAT GOES BEYOND FUNDING TO SMALL BUSINESSES BY PROVIDING COACHING AND OTHER ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Fink Executive Director | Officer | 40 | $137,500 |
Bruce Hotaling Board Chair | OfficerTrustee | 1 | $0 |
James Johnson-Piett Board Treasurer | OfficerTrustee | 1 | $0 |
Steven King Board Vice Chair | OfficerTrustee | 1 | $0 |
Ana Lisa Yoder Board Secretary | OfficerTrustee | 1 | $0 |
Kersy Azocar Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $325,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $235,000 |
| Noncash contributions included in lines 1a–1f | $75,345 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $560,300 |
| Total Program Service Revenue | $0 |
| Investment income | $423,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $433,608 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,417,216 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $752,251 |
| Grants and other assistance to domestic individuals. | $41,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $152,276 |
| Compensation of current officers, directors, key employees. | $38,069 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,251 |
| Pension plan accruals and contributions | $2,913 |
| Other employee benefits | $6,031 |
| Payroll taxes | $16,433 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,452 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,792 |
| Advertising and promotion | $2,568 |
| Office expenses | $0 |
| Information technology | $12,526 |
| Royalties | $0 |
| Occupancy | $14,959 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,146 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,359 |
| All other expenses | $0 |
| Total functional expenses | $1,120,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,401 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $18,683 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,823,827 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,073,431 |
| Total assets | $18,136,342 |
| Accounts payable and accrued expenses | $2,834 |
| Grants payable | $14,000 |
| 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 | $0 |
| Total liabilities | $16,834 |
| Net assets without donor restrictions | $9,998,537 |
| Net assets with donor restrictions | $8,120,971 |
| 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 | $18,136,342 |
Grants Awarded
Over the last fiscal year, The Merchants Fund has awarded $178,258 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
LE BAOBAB PURPOSE: COVID-19 RELIEF STABILIZATION GRANT (CYCLE 1); EMERGENCY GRANT | $25,000 |
HARRIETT'S BOOKSHOP PURPOSE: DISCRETIONARY GRANT | $20,000 |
BRITISH IMPERIAL CLEANERS PURPOSE: DISASTER RELIEF GRANT | $19,000 |
OLD NELSON FOOD COMPANY PURPOSE: DISASTER RELIEF GRANT | $13,000 |
GREG'S KITCHEN PURPOSE: DISASTER RELIEF GRANT | $13,000 |
ART HISTORY 101 PURPOSE: EMERGENCY GRANT; BTG DISCRETIONARY GRANT | $10,250 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that The Merchants Fund has recieved totaling $423,444.
| Awarding Organization | Amount |
|---|---|
Philadelphia Industrial Development Corp Philadelphia, PA PURPOSE: CONDUIT GRANTS | $300,000 |
Philadelphia Foundation Philadelphia, PA PURPOSE: WEST PHILADELPHIA CORRIDOR BUSINESSES | $50,750 |
Rudolf Steiner Foundation Inc San Francisco, CA PURPOSE: FOR URBANE DEVELOPMENT (JAMES JOHNSON PIETT) FOR BII COHORT PARTICIPATORY GRANTMAKING POOL | $25,694 |
Polly A Levee Charitable Trust - Trust A - Krancer Trust Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $25,000 |
Pennsylvania 30 Day Fund Inc Philadelphia, PA PURPOSE: GRANT TO FUND 4 CHILDCARE PROVIDERS IN PHILADELPHIA | $12,000 |
The Cottage Bridge Foundation Pittsburgh, PA PURPOSE: GENERAL PURPOSES OF DONEE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |