Tpf Special Assets Fund Co Pat Meller

“The philadelphia foundation (tpf), a related 501(c)(3) public charity, is considered the sole member of the institute, based on the internal revenue service definition of member.”

“Tpf has the power to appoint and remove all members of the board of managers of the institute. Tpf has the power to appoint and remove one member of the governing body of the lenfest institute for journalism, llc, a disregarded entity of the institute.”

“The institute's right to amend its governing instruments is subject to the approval of tpf.”

“The organization does not have any committees that have authority to act on behalf of the governing body.”

“The form 990 is prepared by an independent accounting firm working closely with the institute's cfo. Once the return is prepared, it is reviewed by the finance team along with executive management before being provided to the finance committee and governing body for their review prior to filing with the internal revenue service.”

“Board members, standing committee members, and staff shall advise the institute's ceo of affiliation with any grantee, potential grantee or vendor in response to an annual questionnaire from the institute and at any other time when such person becomes aware of an affiliation which has not previously been disclosed. No member of the board or any standing committee who is affiliated with any organization being considered for a grant from the institute shall participate in the consideration of such grant or shall vote on such grant award. No member of the board or any standing committee who is affiliated with any vendor of goods or services to the institute shall participate in the consideration or administration of any contract with such vendor. No member of the staff of the institute shall, without the permission of the institute's ceo, be affiliated with any grantee, prospective grantee or vendor to the institute. The institute's conflict of interest policy includes a duty to disclose actual or potential conflicts as they arise and requires annual disclosure of all actual or potential conflicts.”

“The institute's board of managers, without participation of the institute's ceo, has overarching responsibility for establishing annual compensation for the institute's ceo. In 2022, the institute's board of managers entered into an employment contract with the institute's ceo that terminates on january 15, 2027. The process was led by the institute's executive committee. The contract provides for cost-of-living increases based upon consumer price index data issued by the u.s. Bureau of labor statistics, as well as merit increases based upon annual performance reviews. The contract terms were developed using comparable salary and benefits data, such as data from available salary and benefit surveys, to learn what nonprofit employers with similar missions, similar budgets and located in the same or a similar geographic region pay their senior leaders. The board of managers may choose to engage an outside expert to assist in this research. The chair and vice chair of the institute's board of managers are responsible for documenting the institute's ceo's annual review, including who was involved in this process and the criteria used to evaluate the institute's ceo's performance. It presents its performance review to the full board of managers around september of each year, as stipulated in the employment contract. The institute's ceo is responsible for reviewing and deciding compensation for other key employees of the organization. The institute's ceo uses data from salary and benefit surveys as needed to learn what nonprofit employers with similar missions, budgets and geographic regions pay their senior leaders. The institute's ceo discusses compensation decisions with members of the executive committee. The process described here was last completed in 2024.”

“The institute makes its financial statements available on its website. In addition, the philadelphia foundation makes the governing documents and conflict of interest policy for the institute available upon request.”

“The institute does not have its own website, but its disregarded entity, the lenfest institute for journalism, llc, does have a website, www.lenfestinstitute.org, and the institute's form 990 is posted on that website. As a disregarded entity, this website is being considered the institutes 'own website' for purposes of this disclosure on the form 990, but the institute itself does not consider itself to have its own website.”

“The institute does not file any w-2s or payroll tax filings under its ein 04-3731829 because such filings are handled by the philadelphia foundation (tpf), a related public charity under their ein 23-1581832. The institute reimburses tpf for compensation paid to employees devoting time to the institute, and reports these reimbursements as wage, benefit, and payroll tax expenses on form 990, part ix, lines 5-10. As such, it is also reporting the number of employees reflected in that compensation on form 990, part v, line 2a. In addition, the institute also confirms with tpf that all related required federal payroll tax filings have been made; therefore, form 990, part v, line 2b is answered as yes.”

“Consultants: program service expenses 2,986,327. Management and general expenses 268,293. Fundraising expenses 50,982. Total expenses 3,305,602. Administrative fee: program service expenses 0. Management and general expenses 78,750. Fundraising expenses 0. Total expenses 78,750.”

“The institute does not issue any w-2s, but rather reimburses its related organization, the philadelphia foundation, for compensation paid to employees devoting time to the institute. Within the statement of functional expenses, the compensation reimbursed to the related organization is reported as such on form 990, part ix, lines 5-10.”