Philadelphia Convention And Vistors Bureau Foundation is located in Philadelphia, PA. The organization was established in 2002. According to its NTEE Classification (N20) the organization is classified as: Camps, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Convention And Vistors Bureau 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 06/2023, Philadelphia Convention And Vistors Bureau Foundation generated $3.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MISSION/PURPOSE: THE PHILADELPHIA CONVENTION AND VISITORS BUREAU FOUNDATION ("FOUNDATION") WAS ESTABLISHED IN 2002 TO CONDUCT PUBLIC, CHARITABLE, AND EDUCATIONAL ACTIVITIES AND TO ATTRACT ADDITIONAL SUPPORT FOR THOSE ACTIVITIES FROM FOUNDATIONS AND THE GENERAL PUBLIC. THE FOUNDATION HAS A 501(C)(3) TAX-EXEMPT STATUS BECAUSE ITS ACTIVITIES ARE CHARITABLE AND EDUCATIONAL. THE MISSION OF THE FOUNDATION, IN COOPERATION WITH THE CITY OF PHILADELPHIA AND THE COMMONWEALTH OF PENNSYLVANIA, IS TO PROVIDE FUNDING IN SUPPORT OF ACTIVITIES THAT PROMOTE, BEAUTIFY, AND CELEBRATE PHILADELPHIA IN AN EFFORT TO STIMULATE THE CITY'S TOURISM INDUSTRY. TOGETHER WITH ITS PARTNERS, THE FOUNDATION SUPPORTS PROJECTS THAT MAKE THE CITY MORE INVITING TO VISITORS, ESPECIALLY THOSE ATTENDING A CONVENTION OR SPECIAL EVENT, OR VISITORS TRAVELING FROM ANOTHER COUNTRY. IN ADDITION, THE FOUNDATION HELPS PHILADELPHIANS PREPARE THEMSELVES FOR CAREERS IN THE REGION'S DYNAMIC HOSPITALITY INDUSTRY, AND ASSISTS CORPORATE VIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT : THE PHLCVB FOUNDATION PARTNERED WITH THE CITY OF PHILADELPHIA, THE COMMONWEALTH OF PENNSYLVANIA, AND MANY OTHER HOSPITALITY ORGANIZATIONS TO PROMOTE PHILADELPHIA AS A DYNAMIC TRAVEL DESTINATION AND LOCATION FOR LARGE EVENTS. THE FOUNDATION SUPPORTS THE REGIONAL EFFORTS THAT LEAD TO PHILADELPHIA HOSTING PREMIER EVENTS, SUCH AS THE CITY'S SUCCESSFUL BID TO HOST FIFA WORLD CUP 2026 . PHILADELPHIA WAS ONE OF 17 U.S. CITIES VYING FOR AN OPPORTUNITY TO HOST ONE OF THE WORLD'S BIGGEST SPORTING EVENTS, A PROCESS THAT BEGAN IN 2017. LEADING THE EFFORT WAS PHILADELPHIA SOCCER 2026, THE CITY OF PHILADELPHIA'S OFFICIAL FIFA WORLD CUP 2026 BID COMMITTEE, WHICH INCLUDED DOZENS OF PARTNERS FROM ACROSS THE SPORTS, BUSINESS, AND HOSPITALITY COMMUNITIES. PHILADELPHIA WAS OFFICIALLY SELECTED AS A HOST CITY IN JUNE 2022.
HOSPITALITY EDUCATION: THE FOUNDATION SUPPORTS PROJECTS THAT TRAIN AND EDUCATE INDIVIDUALS FOR CAREERS IN THE HOSPITALITY SECTOR. IT PROVIDES FOR AN ANNUAL SCHOLARSHIP (MARIE BAKER BROWN SCHOLARSHIP) FOR HOSPITALITY STUDENTS ENROLLED AT LOCAL UNIVERSITIES. IT PRODUCES PROGRAMMING DESIGNED TO PROVIDE GUIDANCE TO HIGH SCHOOL AND COLLEGE STUDENTS INTERESTED IN CAREERS IN THE HOSPITALITY FIELD. THIS PROGRAM STRIVES TO ENSURE THAT PHILADELPHIA'S DIVERSE COMMUNITIES HAVE THE OPPORTUNITY TO PARTICIPATE IN AND BENEFIT FROM THE ECONOMIC BENEFITS DRIVEN BY THE TOURISM INDUSTRY.
COMMUNITY IMPROVEMENT AND OUTREACH: THE FOUNDATION SUPPORTS PROJECTS SUCH AS PHL CARES, A HIGH-IMPACT, BUSINESS-LED RESPONSE TO PHILADELPHIA'S CHRONIC STREET HOMELESSNESS PROBLEM MOBILIZING RESOURCES AND LEADERSHIP FOR REAL SOLUTIONS - HOUSING, JOBS AND SERVICES - TO END HOMELESSNESS. THE FOUNDATION SUPPORTED THE DESIGN OF PHLCARES.COM AND PROMOTIONAL ASSETS. IT ALSO SUPPORTS KEY INITIATIVES TO IMPROVE THE QUALITY OF LIFE IN PHILADELPHIA AND TO BEAUTIFY AND ENHANCE HIGH PROFILE PUBLIC SPACES. ITS GOAL IS TO ENSURE THAT PARKS, HISTORICAL SITES, MONUMENTS, AND BUILDINGS - PARTICULARLY THOSE LOCATED IN THE CITY'S HISTORIC, CULTURAL, AND CONVENTION CORRIDORS - REMAIN WELL MAINTAINED AND WELCOMING TO THE PUBLIC.
HOSPITALITY INDUSTRY SUPPORT: THE FOUNDATION SUPPORTS PROGRAMS THAT HIGHLIGHT AND SUPPORT THE REGION'S DYNAMIC HOSPITALITY SECTOR. IT SUPPORTS EVENTS THAT SHOWCASE AND CELEBRATE THE WORK OF EVERYONE EMPLOYED IN THE REGION'S HOSPITALITY INDUSTRY. BY HIGHLIGHTING EXISTING EMPLOYEES AND THEIR ACCOMPLISHMENTS, THE FOUNDATION HELPS DEVELOP A ROBUST WORKFORCE FOR THE REGIONAL HOSPITALITY INDUSTRY. THE FOUNDATION ALSO SUPPORTS TOURISM DIVERSITY MATTERS, THE COLLABORATIVE LEADER OF DIVERSITY, EQUITY AND INCLUSION (DEI) INITIATIVES AND CONCEPTS IN THE TOURISM INDUSTRY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gregg Caren President & | Trustee | 2 | $0 |
Jeff Adeli Treasurer | OfficerTrustee | 2 | $0 |
Stephen S Aichele Trustee | Trustee | 2 | $0 |
Ed Baten Trustee | Trustee | 2 | $0 |
Karen Dougherty Buchholz Chair | OfficerTrustee | 2 | $0 |
Leonard Buckley Vice Chair | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $950,000 |
All other contributions, gifts, grants, and similar amounts not included above | $2,302,996 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $3,252,996 |
Total Program Service Revenue | $0 |
Investment income | $24,922 |
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 | $3,343,180 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $90,000 |
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 | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $26,805 |
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 | $90,214 |
All other expenses | $66,885 |
Total functional expenses | $2,725,896 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,646,567 |
Savings and temporary cash investments | $137,916 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $88,684 |
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 | $25,875 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,899,042 |
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 | $1,899,042 |
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 | $1,899,042 |
Over the last fiscal year, Philadelphia Convention And Vistors Bureau Foundation has awarded $90,000 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
TEMPLE UNIVERSITY PURPOSE: SCHOLARSHIP CONTRIBU | $10,000 |
PHILADELPHIA INDEPEND VISITORS CNTR PURPOSE: INSTALL ROCKY OUTPOS | $20,000 |
FC PA STADIUM LLC (SPECTRA) PURPOSE: A/N CUP XI SPONSORSH | $10,000 |
OPERATION GRATITUDE PURPOSE: 2000 CARE PACKAGES | $50,000 |