Philadelphia City Institute
- Assets
- $5.4m
- Revenue
- $279.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 03/1942
- Data as of
- 12/2022
- EIN
- 23-7142182
Organization Overview
Philadelphia City Institute is located in Philadelphia, PA. The organization was established in 1942. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia City Institute 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 12/2022, Philadelphia City Institute generated $279.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $371.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PCI SUPPORTS VARIOUS PROGRAMS OF THE FREE LIBRARY FOUNDATION OF PHILADELPHIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PHILADELPHIA CITY INSTITUTE FORMED IN 1852, EXISTS TO PROMOTE THE MORAL AND INTELLECTUAL IMPROVEMENT OF YOUNG PERSONS. DURING THE SUBJECT YEAR, THE ORGANIZATION SUPPORTED THE FREE LIBRARY FOUNDATION OF PHILADELPHIA, A PUBLICLY SUPPORTED CHARITABLE, EDUCATIONAL ORGANIZATION. THE ORGANIZATION PROVIDED SUPPORT IN TWO WAYS. FIRST, IT PROVIDED FACILITIES AT 1901 LOCUST STREET, PHILADELPHIA, PENNSYLVANIA FOR THE OPERATION OF THE BRANCH OF THE FREE LIBRARY OF PHILADELPHIA. SECOND, IT MADE A GRANT TO THE SUPPORTED ORGANIZATION TO PROVIDE FINANCIAL SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles T Lee III President | OfficerTrustee | 1 | $0 |
Barry N Eiswerth Vice President | OfficerTrustee | 1 | $0 |
Josh Byrne Secretary | OfficerTrustee | 1 | $0 |
Huntley Platt Treasurer | OfficerTrustee | 1 | $0 |
Richard Rp Distefano ESQ Associate Treasurer | OfficerTrustee | 1 | $0 |
Deidre Farmbry Board Manager | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $159,444 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $120,450 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $279,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $327,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,835 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,924 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,257 |
| All other expenses | $279 |
| Total functional expenses | $371,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,749 |
| 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 | $0 |
| Net Land, buildings, and equipment | $150,000 |
| Investments—publicly traded securities | $5,035,634 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,448,383 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,448,383 |
| 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 | $5,448,383 |
Grants Awarded
Over the last fiscal year, Philadelphia City Institute has awarded $327,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE FREE LIBRARY OF PHILADELPHIA FOUNDATION PURPOSE: TO SUPPORT VARIOUS PROGRAMS OF THE FREE LIBRARY OF PHILADELPHIA FOUNDATION, INCLUDING THE LEASING OF REAL PROPERTY FOR $1 TO BE USED AS A FREE LIBRARY. | $317,000 |
HISTORICAL SOCIETY OF PENNSYLVANIA PURPOSE: TO SUPPORT VARIOUS PROGRAMS OF THE HISTORICAL SOCIETY OF PENNSYLVANIA | $10,000 |