Independence Historical Trust
- Assets
- $5.8m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 05/1973
- Data as of
- 12/2021
- EIN
- 23-7179598
Organization Overview
Independence Historical Trust, operating under the name Friends Of Independence National, is located in Philadelphia, PA. The organization was established in 1973. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Independence National 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, Friends Of Independence National generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS TO FULFILL THE MISSION OF INDEPENDENCE NATIONAL HISTORICAL PARK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, ALONG WITH FUNDRAISING FOR CAPITAL PROJECTS, THE ORGANIZATION THROUGH DONATIONS AND GRANTS WAS ABLE TO ACCOMPLISH THE FOLLOWING EDUCATIONAL ACTIVITIES:TWILIGHT TALKS: OFFERED FOR FREE, EVENING TALKS ON THE HISTORY OF THE NATIONAL PARK. OVER 400 ATTENDANTS FROM 27 DIFFERENT STATES AND 8 FOREIGN COUNTRIES ATTENDED THE PROGRAM.VIRTUAL SCHOOL TRIPS: IN PARTNERSHIP WITH THE NATIONAL PARK SERVICE, THE ORGANIZATION PROVIDED FUNDING TO OFFER 104 PROGRAMS FOR THE 20-21 SCHOOL YEAR. OVER 45 SCHOOLS PARTOOK IN THE PROGRAM WHICH INCLUDED 3,933 STUDENTS FROM 3RD TO 5TH GRADE.VIRTUAL PROGRAMS: IN PARTNERSHIP WITH THE NATIONAL PARK SERVICE, THE ORGANIZATION HOSTED THREE DIFFERENT VIRTUAL PROGRAMS IN 2021 THAT REACHED OVER 80 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Marrazzo Chairman | OfficerTrustee | 10 | $0 |
Lee James Woolley Vice Chair | OfficerTrustee | 5 | $0 |
Karen Kaufman Treasurer | OfficerTrustee | 5 | $0 |
Thomas G Spencer Secretary | OfficerTrustee | 5 | $0 |
Thomas Caramanico Executive Director | Officer | 20 | $0 |
Thomas G Morr Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
John Milner Architects First Bank Restoration Project | 12/30/21 | $437,800 |
Local Projects First Bank Restoration Project | 12/30/21 | $115,959 |
Studio Bryan Hanes Bicentennial Bell Project | 12/30/21 | $154,439 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,440 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,799,397 |
| Noncash contributions included in lines 1a–1f | $115,675 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,806,837 |
| Total Program Service Revenue | $131,016 |
| Investment income | $36,004 |
| 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 | $1,973,857 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $64,155 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,507 |
| Fees for services: Accounting | $10,700 |
| Fees for services: Lobbying | $21,300 |
| Fees for services: Fundraising | $72,378 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $131,016 |
| Advertising and promotion | $842 |
| Office expenses | $11,719 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $209 |
| Travel | $100 |
| 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 | $8,140 |
| All other expenses | $10,231 |
| Total functional expenses | $1,419,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,655,231 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $823,500 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,320,085 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,798,816 |
| Accounts payable and accrued expenses | $140,048 |
| 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 | $9,561 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $149,609 |
| Net assets without donor restrictions | $208,033 |
| Net assets with donor restrictions | $5,441,174 |
| 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 | $5,798,816 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Independence Historical Trust has recieved totaling $1,307,163.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $698,650 |
Landenberger Family Foundation Philadelphia, PA PURPOSE: GENERAL CONTRIBUTION | $250,000 |
William Penn Foundation Philadelphia, PA PURPOSE: MATCHING FUNDS FOR FIRST BANK PROJECT | $100,000 |
Horace W Goldsmith Foundation New York, NY PURPOSE: GENERAL OPERATIONS | $50,000 |
Horace W Goldsmith Foundation New York, NY PURPOSE: GENERAL OPERATIONS | $50,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $40,000 |
Endowment Analysis
| Beg. Balance | $2,398,807 |
| Earnings | $251,649 |
| Other Expense | $19,247 |
| Ending Balance | $2,631,209 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
Toledo Alliance For The Performing Arts Toledo, OH | $24,676,048 | $6,839,703 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
Air Force Museum Foundation Inc Wright Patterson Afb, OH | $28,184,823 | $8,102,292 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |
John L Severance Brooklyn, OH | $58,165,574 | $2,331,201 |
American Friends Of The National Portrait Gallery Foundation Inc New York, NY | $1,343,323 | $3,284,122 |