Philadelphia Insurance Companies Foundation
- Assets
- $27.8m
- Revenue
- $6.4m
- Investments
- $21.1m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 11/2014
- Data as of
- 12/2023
- EIN
- 46-1563265
Organization Overview
Philadelphia Insurance Companies Foundation is located in Philadelphia, PA. The organization was established in 2014. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Insurance Companies 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 12/2023, Philadelphia Insurance Companies Foundation generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 71.6% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 24.7% per year over the past 6 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 Insurance Companies Foundation has awarded 65 individual grants totaling $2,236,356. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert O'leary President | 5 | $0 | |
John W Glomb Jr Executive Vice President | 5 | $0 | |
Karen A Gilmer-Pauciello Treasurer/executive Vp/cfo | 5 | $0 | |
Michael W Kelly Vice President | 5 | $0 | |
Edward Sayago Corporate Secretary | 5 | $0 | |
Scott M Yurko Assistant Coporate Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,700,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $694,843 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,459 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,391,384 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,605 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $147,829 |
| Contributions, gifts, grants paid | $938,427 |
| Total expenses and disbursements | $1,086,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $345,813 |
| Savings and temporary cash investments | $6,327,792 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $21,131,620 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $27,805,225 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Philadelphia Insurance Companies Foundation has awarded $938,427 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
BEST BUDDIES INTERNATIONAL INC PURPOSE: 2023 DONATION | $60,000 |
NATIONAL ARBOR DAY FOUNDATION PURPOSE: PHLY80K REFORESTATION 2023 | $100,000 |
HABITAT FOR HUMANITY PURPOSE: 2023 DONATION | $25,000 |
NATIONAL ARBOR DAY FOUNDATION PURPOSE: CITY PLANTING (2023) | $50,000 |
SJU SCHOOL OF RISK MANAGEMENT PURPOSE: GENERAL CHARITABLE PURPOSES | $50,000 |
UNIV OF SOUTHERN CALIFORNIA PURPOSE: GENERAL CHARITABLE PURPOSES | $20,000 |