Civic Intelligence

The Lenfest Inst for Journalism Spe Asset Fund of the Phl Foundation

990 • Fiscal year 2014 • EIN 04-3731829

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 30, 2015

Organization ProfileN/A
1234 Market Street No 1800Philadelphia, PA 19107

(215) 563-6417

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

14th percentile

0.00x

Higher debt load relative to revenue than 14% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-637%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

95th percentile

$318,183

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 9.9% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

1st percentile

-93%

Faster asset growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

20th percentile

-12%

Faster revenue growth than 20% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets16th percentile

Assets

Down

$1,581,558

Down $20,333,136 (-93%) from 2013

Net Assets

Down

$1,579,970

Down $20,308,482 (-93%) from 2013

Liabilities

Down

$1,588

Down $24,654 (-94%) from 2013

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin1st percentile

Revenue

Down

$3,222,796

Down $418,950 (-12%) from 2013

Expenses

Up

$23,767,127

Up $21,418,055 (+912%) from 2013

Net Income

Down

-$20,544,331

Down $21,837,005 (-1689%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $7,405Liabilities 2010: $7,405Net Assets 2010: $02010Assets 2011: $15,256,000Liabilities 2011: $0Net Assets 2011: $15,256,0002011Assets 2012: $23,993,917Liabilities 2012: $2,440,503Net Assets 2012: $21,553,4142012Assets 2013: $21,914,694Liabilities 2013: $26,242Net Assets 2013: $21,888,4522013Assets 2014: $1,581,558Liabilities 2014: $1,588Net Assets 2014: $1,579,9702014Assets 2015: $35,135,447Liabilities 2015: $0Net Assets 2015: $35,135,4472015Assets 2016: $57,016,345Liabilities 2016: $334,937Net Assets 2016: $56,681,4082016Assets 2017: $61,300,526Liabilities 2017: $713,736Net Assets 2017: $60,586,7902017Assets 2018: $100,598,800Liabilities 2018: $900,563Net Assets 2018: $99,698,2372018Assets 2019: $105,118,770Liabilities 2019: $7,463,771Net Assets 2019: $97,654,9992019Assets 2020: $97,432,232Liabilities 2020: $5,859,295Net Assets 2020: $91,572,9372020Assets 2021: $99,634,192Liabilities 2021: $4,880,799Net Assets 2021: $94,753,3932021Assets 2022: $107,280,135Liabilities 2022: $4,625,558Net Assets 2022: $102,654,5772022Assets 2023: $124,527,937Liabilities 2023: $3,788,099Net Assets 2023: $120,739,8382023Assets 2024: $133,928,628Liabilities 2024: $5,672,646Net Assets 2024: $128,255,9822024

Highlighted filing

2014

Assets$1,581,558
Liabilities$1,588
Net Assets$1,579,970
Open 2014 Filing

Operations Trend

Revenue Growth20th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20M-$40MExpenses 2010: $429,4492010Expenses 2011: $02011Revenue 2012: $14,820,785Expenses 2012: $7,364,530Net Income 2012: $7,456,2552012Revenue 2013: $3,641,746Expenses 2013: $2,349,072Net Income 2013: $1,292,6742013Revenue 2014: $3,222,796Expenses 2014: $23,767,127Net Income 2014: -$20,544,3312014Revenue 2015: $34,876,624Expenses 2015: $1,927,111Net Income 2015: $32,949,5132015Revenue 2016: $22,615,026Expenses 2016: $1,069,065Net Income 2016: $21,545,9612016Revenue 2017: $7,899,693Expenses 2017: $5,467,437Net Income 2017: $2,432,2562017Revenue 2018: $51,599,715Expenses 2018: $9,759,033Net Income 2018: $41,840,6822018Revenue 2019: $25,125,953Expenses 2019: $28,688,218Net Income 2019: -$3,562,2652019Revenue 2020: $21,750,954Expenses 2020: $30,909,697Net Income 2020: -$9,158,7432020Revenue 2021: $14,397,650Expenses 2021: $16,429,153Net Income 2021: -$2,031,5032021Revenue 2022: $41,516,736Expenses 2022: $21,565,100Net Income 2022: $19,951,6362022Revenue 2023: $31,951,841Expenses 2023: $21,808,175Net Income 2023: $10,143,6662023Revenue 2024: $26,054,320Expenses 2024: $22,756,190Net Income 2024: $3,298,1302024

Highlighted filing

2014

Revenue$3,222,796
Expenses$23,767,127
Net Income-$20,544,331
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 30, 2015
Return Version
2014v5.0
Gross Receipts
$3,892,491
Mission and Program Overview

Mission

Receive, manage and distribute assets, primarily illiquid assets, in support of the philadelphia foundation.

Receive, manage, and distribute primarily illiquid assets in support of the philadelphia foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$19,269,090$904,274▼ $18,364,816
Investments in Publicly Traded Securities$653,650--
Cash and Non-Interest-Bearing Accounts$1,592,924$568,569▼ $1,024,355
Savings and Temporary Cash Investments$57,477--
Total Assets$21,914,694$1,581,558▼ $20,333,136
Other Assets Total$341,553$108,715▼ $232,838
Liabilities
Accounts Payable and Accrued Expenses$26,242$1,588▼ $24,654
Total Liabilities$26,242$1,588▼ $24,654
Net Assets / Fund Balance
Temporarily Rstr Net Assets$18,554,560$0▼ $18,554,560
Unrestricted Net Assets$3,333,892$1,579,970▼ $1,753,922
Total Net Assets Fund Balance$21,888,452$1,579,970▼ $20,308,482
Total Liabilities and Net Assets / Fund Balance$21,914,694$1,581,558▼ $20,333,136

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$108,715--
Other Securities$404,274--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleOtherTotal
Bia VieiraVP Philanthropic Services$133,097$133,097

Board Members and Trustees

NameTitle
Kerry BensonBoard Chair
Lawrence J Beaser EsqBoard Chair
R Andrew SwinneyPresident
Kate S AllisonBoard Vice Chair
Alan HirsigBoard Member
Anne MorrisseyBoard Member
Anthony J Conti CPABoard Member
Daniel PhelanBoard Member
Elizabeth Leebron Tutelman PhdBoard Member
Francis MirabelloBoard Member
Frederick J M Lavalley EsqBoard Member
John NihillBoard Member
Mindy PosoffBoard Member
N Nina Ahmad PhdBoard Member
Patricia a CoulterBoard Member
Richard Negrin EsqBoard Member
Roseline H MarstonBoard Member
Steven L SandersBoard Member
William Bullitt EsqTreasurer
Patricia MellerVP for Finance & Administr
Revenue and Support

Revenue Composition

Contributions and Grants
$13,802
Program Service Revenue
$0
Investment Income
$3,208,994
Other Revenue
$0
All Other Contributions
$13,802
Change in Net Assets
$-20,544,331
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$22,369,060
Other Expenses$1,398,067
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$22,369,060--$22,369,060
Other Expenses-$1,305,197-$1,305,197
Fees for Service Investment Mgmnt Fees-$63,868-$63,868
Fees for Services Legal-$18,002-$18,002
Fees for Services Accounting-$11,000-$11,000
Total Functional Expenses$22,369,060$1,398,067$0$23,767,127
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Rsf Social FinanceSan Francisco, CA501(c)(3)General Operating Support$600,000
The Harry R Halloran Jr Charitable TrustPhiladelphia, PA501(c)(3)To Provide Support to the Harry R. Halloran, Jr. Charitable Trust$569,000
The Harry R Halloran Jr Charitable TrustPhiladelphia, PA501(c)(3)To Provide Support to the Harry R. Halloran, Jr. Charitable Trust$296,000
The Harry R Halloran Jr Charitable TrustPhiladelphia, PA501(c)(3)To Provide Support to the Harry R. Halloran, Jr. Charitable Trust$200,000
Case Western Reserve UniverstiyCleveland, OH501(c)(3)General Support for the Fowler Center$150,000
Buckminster Fuller InstituteBrooklyn, NY501(c)(3)Halloran Philanthropies - Wellbeing Project for the Management Insititute for Quality of Life Studies$120,000
American Society for Technion - Israel Institute of Technology IncWest Conshohocken, PA501(c)(3)General Support$100,000
B Lab CompanyWayne, PA501(c)(3)General Support$100,000
B Lab CompanyWayne, PA501(c)(3)General Support$100,000
Future Project IncNew York, NY501(c)(3)Philadelphia Project$100,000
Joseph Fund CamdenCamden, NJ501(c)(3)General Support$100,000
Joseph Fund CamdenCamden, NJ501(c)(3)General Support$100,000
Bradford Educational FoundationBradford, PA501(c)(3)General Operating$75,000
Carbon Roots InternationalOakland, CA501(c)(3)General Support$75,000
Educate UgandaDenver, CO501(c)(3)General Support$75,000
The Philadelphia Orchestra AssociationPhiladelphia, PA501(c)(3)General Operating Support$75,000
AhmsaSeattle, WA501(c)(3)General Support$50,000
Buckminster Fuller InstituteBrooklyn, NY501(c)(3)General Support$50,000
DasraSugarland, TX501(c)(3)General Support$50,000
Echoing Green FoundationNew York, NY501(c)(3)General Support$50,000
Eisenhower Exchange Fellowships IncPhiladelphia, PA501(c)(3)General Support$50,000
Future Project IncNew York, NY501(c)(3)Support the Launch of the Future Project in Philadelphia$50,000
Joseph Fund CamdenCamden, NJ501(c)(3)General Operating$50,000
Philadelphia Development PartnershipPhiladelphia, PA501(c)(3)General Support$50,000
Pro Mujer IncNew York, NY501(c)(3)General Support$50,000
Project HomePhiladelphia, PA501(c)(3)Continuum of Care$50,000
Rsf Social FinanceSan Francisco, CA501(c)(3)The Field Building Project$50,000
Rsf Social FinanceSan Francisco, CA501(c)(3)Field Building Program$50,000
The Franklin InstitutePhiladelphia, PA501(c)(3)General Operating Support$50,000
Worldlink FoundationSan Francisco, CA501(c)(3)General Support for the Lexicon of Sustainability$50,000
Free Library of Philadelphia FoundationPhiladelphia, PA501(c)(3)General Support$30,000
50can IncWashington, DC501(c)(3)The 2014 Penncan Campaign$25,000
Boys & Girls Club of Fresno CountyFresno, CA501(c)(3)General Support$25,000
Friends of the Oaxaca Learning CenterBlue Hill, ME501(c)(3)General Support$25,000
Imagine H2oSan Francisco, CA501(c)(3)General Support$25,000
International Center for Religion and DiplomacyWashington, DC501(c)(3)Colombia Program$25,000
Kipp Philadelphia Charter SchoolPhiladelphia, PA501(c)(3)General Support$25,000
Mobile MetrixSan Francisco, CA501(c)(3)General Support$25,000
Social Venture NetworkSan Francisco, CA501(c)(3)General Support$25,000
Teach for America - Greater PhiladelphiaPhiladelphia, PA501(c)(3)General Support$25,000
University X Dba Watson UniversityBoulder, CO501(c)(3)General Support$20,000
William James FoundationWashington, DC501(c)(3)General Support-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The organization's public accounting firm prepares the form 990 based on the information provided by members of the finance team. Once the return is prepared, it is reviewed by the finance team along with executive management before being provided to the audit committee and governing body for their review.”

Form 990, Part VI, Section B, Line 12C

“Board members, standing committee members, and staff shall advise the president of the foundation of affiliation with any grantee, potential grantee or vendor in response to an annual questionnaire from the foundation 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 foundation 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 foundation shall participate in the consideration or administration of any contract with such vendor. No member of the staff of the foundation shall, without the permission of the president, be affiliated with any grantee, prospective grantee or vendor to the foundation.”

Form 990, Part VI, Section B, Line 15

“While tpf special assets fund has no employees, the president is compensated by the philadelphia foundation, a related organization. To determine the president's compensation , the philadelphia foundation compensation committee compares the salary to peer organizations, analyzes various local and national salary surveys, and reviews the president's accomplishment of goals and objectives over the prior year. The president reviews local and national salary surveys and determines the salary of officers and key employees within the budget approved by the board of managers.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and conflict of interest policy available upon request. It makes its audited financial statements available through the organization's annual report and also on its website.”

Filing and Contact Details

Filer

Filer Name
Tpf Special Assets Fund
EIN
04-3731829
Phone
2155636417
Address
1234 MARKET STREET NO 1800, PHILADELPHIA, PA 19107

Signing Officer

Name
Patricia Meller
Title
VP of Finance & Administration
Phone
2155636417
Signed
2015-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pedro a Ramos
Formed
2002
Legal Domicile
Pa
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
18

Preparer

Firm
Cliftonlarsonallen Llp
Address
610 W GERMANTOWN PIKE STE 400, PLYMOUTH MEETING, PA 19462
Preparer
David Jacobson
Phone
2156433900
Supplemental Narrative

Additional Explanations

Part IX, Line 25 Column C

“Management and general expenses as a percentage of total expenses are unusually high due to significant amounts of unrelated business income tax generated by s corporation stock held by tpf special assets fund. Without the unrelated business income tax, management and general expenses would be approximately .4% of total expenses.”

FORM 990, PART XI, LINE 9:

“Audited financial statements income in excess of k-1 286,587.”

Part XII, Line 2C

“The process for the review of the financial statements by the audit committee has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The philadelphia foundation (tpf), the philadelphia foundation, inc. (tpf, inc.), tpf special assets fund (saf), queen's jubilee education foundation (qjef) and the harry r. Halloran jr charitable trust (halloran trust) (these five entities comprise the foundation) are exempt from federal income taxes under section 501(c)(3) of the internal revenue code (the code). Tpf is treated as a publicly supported, tax-exempt community foundation as defined in sections 509(a)(1) and 170(b)(1)(a)(vi) of the code. In addition, the irs has determined that tpf, inc. Is a component part of tpf and is exempt as such. Saf and the halloran trust are recognized as tax exempt supporting organizations under section 509(a)(3) of the code. Qjef is recognized as a publicly supported tax exempt organization as defined in sections 509(a)(1) and 170(b)(1)(a)(vi) of the code. Certain unrelated business income is subject to federal income taxes. The foundation follows the income tax standard for uncertain tax positions. The application of this standard has no impact on the foundation's financial statements. The foundation engages in investments that produce unrelated business income. The associated unrelated business income tax is generated primarily from earnings on leveraged investments (primarily hedge funds) as well as ownership of s-corporation stock. As of december 31, 2014, saf had prepaid taxes of $108,715, which is included in prepaid expenses and other assets in the accompanying statement of financial position. As of december 31, 2013, prepaid unrelated business income tax, primarily generated on earnings from distributions of s-corporation stock, was $341,552 and is included in saf's prepaid expenses and other assets in the accompanying statement of financial position. Tpf, tpf, inc., saf's, and qjef's income tax returns are subject to review and examination by federal and state authorities. The foundation is not aware of any activities that would jeopardize their tax-exempt status. The tax returns for the years 2011 through 2013 are open to examination by federal and state authorities.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
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IRS990/Form990PartVIISectionAGrp/PersonNm0KATE S ALLISON
IRS990/Form990PartVIISectionAGrp/PersonNm1LAWRENCE J BEASER ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm2WILLIAM BULLITT ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm3ANTHONY J CONTI CPA
IRS990/Form990PartVIISectionAGrp/PersonNm4PATRICIA A COULTER
IRS990/Form990PartVIISectionAGrp/PersonNm5N NINA AHMAD PHD
IRS990/Form990PartVIISectionAGrp/PersonNm6ALAN HIRSIG
IRS990/Form990PartVIISectionAGrp/PersonNm7FRANCIS MIRABELLO
IRS990/Form990PartVIISectionAGrp/PersonNm8FREDERICK J M LAVALLEY ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm9ROSELINE H MARSTON
IRS990/Form990PartVIISectionAGrp/PersonNm10RICHARD NEGRIN ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm11ANNE MORRISSEY
IRS990/Form990PartVIISectionAGrp/PersonNm12MINDY POSOFF
IRS990/Form990PartVIISectionAGrp/PersonNm13STEVEN L SANDERS
IRS990/Form990PartVIISectionAGrp/PersonNm14JOHN NIHILL
IRS990/Form990PartVIISectionAGrp/PersonNm15ELIZABETH LEEBRON TUTELMAN PHD
IRS990/Form990PartVIISectionAGrp/PersonNm16DANIEL PHELAN
IRS990/Form990PartVIISectionAGrp/PersonNm17KERRY BENSON
IRS990/Form990PartVIISectionAGrp/PersonNm18R ANDREW SWINNEY
IRS990/Form990PartVIISectionAGrp/PersonNm19PATRICIA MELLER
IRS990/Form990PartVIISectionAGrp/PersonNm20BIA VIEIRA
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt18PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP FOR FINANCE & ADMINISTR
IRS990/Form990PartVIISectionAGrp/TitleTxt20VP PHILANTHROPIC SERVICES
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IRS990/FSAuditedInd01
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IRS990/GamingActivitiesInd00
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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt022369060
IRS990/GrantsToDomesticOrgsGrp/TotalAmt022369060
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IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0737350
IRS990/GrossReceiptsAmt03892491
IRS990/GroupReturnForAffiliatesInd00
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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0669695
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0RECEIVE, MANAGE AND DISTRIBUTE ASSETS, PRIMARILY ILLIQUID ASSETS, IN SUPPORT OF THE PHILADELPHIA FOUNDATION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt021888452
IRS990/NetAssetsOrFundBalancesEOYAmt01579970
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt067655
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt067655
IRS990/NetUnrelatedBusTxblIncmAmt02665664
IRS990/NetUnrlzdGainsLossesInvstAmt0-50738
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0341553
IRS990/OtherAssetsTotalGrp/EOYAmt0108715
IRS990/OtherChangesInNetAssetsAmt0286587
IRS990/OtherExpensesGrp/Desc0UBI TAX
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01305197
IRS990/OtherExpensesGrp/TotalAmt01305197
IRS990/PartialLiquidationInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0PEDRO A RAMOS
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01412500
IRS990/PYInvestmentIncomeAmt03641746
IRS990/PYOtherExpensesAmt0936572
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01292674
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02349072
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03641746
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-20544331
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt057477
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE PHILADELPHIA FOUNDATION
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0500000
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0ALTERNATIVE INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1ALTERNATIVE INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PHILADELPHIA FOUNDATION (TPF), THE PHILADELPHIA FOUNDATION, INC. (TPF, INC.), TPF SPECIAL ASSETS FUND (SAF), QUEEN'S JUBILEE EDUCATION FOUNDATION (QJEF) AND THE HARRY R. HALLORAN JR CHARITABLE TRUST (HALLORAN TRUST) (THESE FIVE ENTITIES COMPRISE THE FOUNDATION) ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE). TPF IS TREATED AS A PUBLICLY SUPPORTED, TAX-EXEMPT COMMUNITY FOUNDATION AS DEFINED IN SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) OF THE CODE. IN ADDITION, THE IRS HAS DETERMINED THAT TPF, INC. IS A COMPONENT PART OF TPF AND IS EXEMPT AS SUCH. SAF AND THE HALLORAN TRUST ARE RECOGNIZED AS TAX EXEMPT SUPPORTING ORGANIZATIONS UNDER SECTION 509(A)(3) OF THE CODE. QJEF IS RECOGNIZED AS A PUBLICLY SUPPORTED TAX EXEMPT ORGANIZATION AS DEFINED IN SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) OF THE CODE. CERTAIN UNRELATED BUSINESS INCOME IS SUBJECT TO FEDERAL INCOME TAXES. THE FOUNDATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION ENGAGES IN INVESTMENTS THAT PRODUCE UNRELATED BUSINESS INCOME. THE ASSOCIATED UNRELATED BUSINESS INCOME TAX IS GENERATED PRIMARILY FROM EARNINGS ON LEVERAGED INVESTMENTS (PRIMARILY HEDGE FUNDS) AS WELL AS OWNERSHIP OF S-CORPORATION STOCK. AS OF DECEMBER 31, 2014, SAF HAD PREPAID TAXES OF $108,715, WHICH IS INCLUDED IN PREPAID EXPENSES AND OTHER ASSETS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. AS OF DECEMBER 31, 2013, PREPAID UNRELATED BUSINESS INCOME TAX, PRIMARILY GENERATED ON EARNINGS FROM DISTRIBUTIONS OF S-CORPORATION STOCK, WAS $341,552 AND IS INCLUDED IN SAF'S PREPAID EXPENSES AND OTHER ASSETS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. TPF, TPF, INC., SAF'S, AND QJEF'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE FOUNDATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THEIR TAX-EXEMPT STATUS. THE TAX RETURNS FOR THE YEARS 2011 THROUGH 2013 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0108715
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt2100000
IRS990ScheduleI/RecipientTable/CashGrantAmt3100000
IRS990ScheduleI/RecipientTable/CashGrantAmt4100000
IRS990ScheduleI/RecipientTable/CashGrantAmt525000
IRS990ScheduleI/RecipientTable/CashGrantAmt675000

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,581,558
Liabilities
$1,588
Net assets
$1,579,970
Revenue
$3,222,796
Expenses
$23,767,127
Net income
-$20,544,331
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$134$5.67$128$26.1$22.8$3.30
2023Detailed filing. Detailed filing data is available for this year.$125$3.79$121$32.0$21.8$10.1
2022Detailed filing. Detailed filing data is available for this year.$107$4.63$103$41.5$21.6$20.0
2021Detailed filing. Detailed filing data is available for this year.$99.6$4.88$94.8$14.4$16.4$2.03
2020Detailed filing. Detailed filing data is available for this year.$97.4$5.86$91.6$21.8$30.9$9.16
2019Detailed filing. Detailed filing data is available for this year.$105$7.46$97.7$25.1$28.7$3.56
2018Detailed filing. Detailed filing data is available for this year.$101$0.90$99.7$51.6$9.76$41.8
2017Detailed filing. Detailed filing data is available for this year.$61.3$0.71$60.6$7.90$5.47$2.43
2016Detailed filing. Detailed filing data is available for this year.$57.0$0.33$56.7$22.6$1.07$21.5
2015Detailed filing. Detailed filing data is available for this year.$35.1$0.00$35.1$34.9$1.93$32.9
2014Detailed filing. Detailed filing data is available for this year.$1.58$0.00$1.58$3.22$23.8$20.5
2013Detailed filing. Detailed filing data is available for this year.$21.9$0.03$21.9$3.64$2.35$1.29
2012Summary only. Only limited summary data is available for this year.$24.0$2.44$21.6$14.8$7.36$7.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.3$0.00$15.3$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.01$0.00$0.43