Philadelphia Cultural Fund Inc
- Assets
- $3.3m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Philadelphia, PA
- Founding
- 10/1992
- Data as of
- 06/2022
- EIN
- 23-2683335
Organization Overview
Philadelphia Cultural Fund Inc is located in Philadelphia, PA. The organization was established in 1992. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Philadelphia Cultural Fund Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Cultural Fund Inc 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 06/2022, Philadelphia Cultural Fund Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 1.9% 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 2015, Philadelphia Cultural Fund Inc has awarded 2,058 individual grants totaling $20,852,878. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PHILADELPHIA CULTURAL FUND WAS ESTABLISHED BY THE CITY OF PHILADELPHIA TO CONDUCT GRANT MAKING ACTIVITY AND PROVIDE ASSISTANCE TO LOCAL ARTS ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PHILADELPHIA CULTURAL FUND, INC. REQUIRES THAT APPLICATIONS BE SUBMITTED BY POTENTIAL GRANTEE ORGANIZATIONS. THE APPLICATION PROCESS INCLUDES SUBMISSION OF A VALID TAX EXEMPT 501(C)(3) STATUS ALONG WITH COPIES OF THE ORGANIZATION'S FORM 990 AND ITS RELATED FINANCIAL STATEMENTS. THE APPLICANT MUST DEMONSTRATE THAT IT MAINTAINS AN OPERATING ADDRESS WITHIN THE CITY OF PHILADELPHIA. ORGANIZATIONS THAT DO NOT HAVE 501(C)(3) STATUS MAY APPLY THROUGH AN APPROVED FISCAL SPONSOR. GRANTS WERE MADE TO 283 PHILADELPHIA ARTS ORGANIZATIONS & PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Magda Martinez President | OfficerTrustee | 1 | $0 |
Dawn Frisby Byers Vice Preside | OfficerTrustee | 1 | $0 |
Valerie Gay Treasurer | OfficerTrustee | 1 | $0 |
Ken Metzner Secretary | OfficerTrustee | 1 | $0 |
Neville Vakharia Director | Trustee | 1 | $0 |
David Oh Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,534,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,557,575 |
| Total Program Service Revenue | $0 |
| Investment income | $254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,557,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,262,409 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $96,719 |
| Compensation of current officers, directors, key employees. | $23,279 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,086 |
| Payroll taxes | $11,387 |
| Fees for services: Management | $7,805 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,161 |
| Advertising and promotion | $0 |
| Office expenses | $1,021 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,850 |
| Travel | $360 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,531 |
| All other expenses | $0 |
| Total functional expenses | $3,474,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,040,866 |
| Savings and temporary cash investments | $1,290,997 |
| Pledges and grants receivable | $1,000,000 |
| 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 | $1,626 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,700 |
| Total assets | $3,335,189 |
| Accounts payable and accrued expenses | $3,091,592 |
| Grants payable | $0 |
| 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 | $3,091,592 |
| Net assets without donor restrictions | $243,597 |
| Net assets with donor restrictions | $0 |
| 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 | $3,335,189 |
Grants Awarded
Over the last fiscal year, Philadelphia Cultural Fund Inc has awarded $3,200,042 in support to 255 organizations.
| Grant Recipient | Amount |
|---|---|
1807 & FRIENDS INC PURPOSE: OPERATIONS | $9,065 |
1812 PRODUCTIONS INC PURPOSE: OPERATIONS | $15,591 |
AL-BUSTAN SEEDS OF CULTURE PURPOSE: OPERATIONS | $17,309 |
ALMANAC PURPOSE: OPERATIONS | $9,296 |
ALLENS LANE ART CENTER ASSOCIATION PURPOSE: OPERATIONS | $12,113 |
ANNA CRUSIS WOMEN'S CHOIR PURPOSE: OPERATIONS | $15,238 |