Civic Intelligence

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

990 • Fiscal year 2020 • EIN 04-3731829

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

1835 Market Street No 2410Philadelphia, PA 19103

(215) 563-6417

Siviq Scores

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

Liabilities / Assets

24th percentile

0.06x

Higher debt load relative to assets than 24% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

38th percentile

0.27x

Higher debt load relative to revenue than 38% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

6th percentile

-42%

Higher net margin than 6% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

62nd percentile

$424,548

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

7th percentile

-7.3%

Faster asset growth than 7% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

20th percentile

-13%

Faster revenue growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Down

$97,432,232

Down $7,686,538 (-7.3%) from 2019

Net Assets

Down

$91,572,937

Down $6,082,062 (-6.2%) from 2019

Liabilities

Down

$5,859,295

Down $1,604,476 (-21%) from 2019

Revenue

Down

$21,750,954

Down $3,374,999 (-13%) from 2019

Expenses

Up

$30,909,697

Up $2,221,479 (+7.7%) from 2019

Net Income

Down

-$9,158,743

Down $5,596,478 (-157%) from 2019

Historical Trend

Balance Sheet Trend

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

2020

Assets$97,432,232
Liabilities$5,859,295
Net Assets$91,572,937

Operations Trend

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

2020

Revenue$21,750,954
Expenses$30,909,697
Net Income-$9,158,743
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$73,073,829
Mission and Program Overview

Mission

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

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$43,161,960$56,562,835▲ $13,400,875
Investments Other Securities$34,635,597$23,223,750▼ $11,411,847
Savings and Temporary Cash Investments$16,454,553$9,387,508▼ $7,067,045
Pledges and Grants Receivable$10,721,661$8,180,750▼ $2,540,911
Prepaid Expenses and Deferred Charges$104,969$41,112▼ $63,857
Land, Buildings, and Equipment, Net$40,030$36,277▼ $3,753
Total Assets$105,118,770$97,432,232▼ $7,686,538
Liabilities
Grants Payable$5,936,993$3,238,011▼ $2,698,982
Accounts Payable and Accrued Expenses$1,526,778$2,621,284▲ $1,094,506
Total Liabilities$7,463,771$5,859,295▼ $1,604,476
Net Assets / Fund Balance
Net Assets With Donor Restrictions$97,068,486$90,468,349▼ $6,600,137
Net Assets Without Donor Restrictions$586,513$1,104,588▲ $518,075
Total Net Assets Fund Balance$97,654,999$91,572,937▼ $6,082,062
Total Liabilities and Net Assets / Fund Balance$105,118,770$97,432,232▼ $7,686,538

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,277$13,930$50,207
Other Securities$3,852,206--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$63,938,879$1,400,000▲ $5,515,791$4,750,825$65,927,907
2019$51,561,528$8,743,531▲ $6,717,448$2,855,000$63,938,879
2018$30,259,500$24,773,020▼ $1,608,344$1,702,000$51,561,528
2017$20,233,626$9,064,550▲ $2,711,333$1,620,866$30,259,500
2016-$20,000,000▲ $233,626-$20,233,626
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James FriedlichChief Executive Officer - LLCFT$330,359$56,126$386,485
Annie MadoniaChief Advancement Officer - LLCFT$273,848$54,676$328,524
Ken HertsChief Operating Officer - LLCFT$266,661$22,175$288,836
Janelle StaffordManaging Director - LLCFT$192,404$22,259$214,663
Rebecca FormanDirector of Advancement - LLCFT$156,907$21,394$178,301
Karen ClearyChief Financial Officer - LLCPT$83,615$5,266$88,881

Board Members and Trustees

NameTitle
David BoardmanChair - LLC
Kate AllisonChair as of Jul 2020
Anthony J ContiChair Thru Jun 2020
Pedro a RamosSecretary, President & CEO
Mindy PosoffVice Chair
Rosalind RemerVice Chair - LLC
Andrew RogoffBoard Member
Christina Mesires FournarisBoard Member
Dixieanne JamesBoard Member
Evelyn McniffBoard Member
Francis J Mirabello EsqBoard Member
Jane ScaccettiBoard Member
John NihillBoard Member
Lon GreenbergBoard Member
Michael K PearsonBoard Member
R Duane PerryBoard Member
Shirin KarsanBoard Member
Stephen a CozenBoard Member
Steven Scott BradleyBoard Member
William J BurkeBoard Member
Amanda BennettManager - LLC
Bill GrueskinManager - LLC
David HaasManager - LLC
Hong QuManager - LLC
Keith LeaphartManager - LLC
Martin NisenholtzManager - LLC
Michael X Delli Carpini Ph DManager - LLC
Roy RosinManager - LLC
Tony HaileManager - LLC
Vijay RavindranManager - LLC
Orlando EspositoTpf Chief Financial Officer
Kerry BensonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Buchanan Ingersoll And Rooney PCLegal Services2 LIBERTY PLACE, Philadelphia, PA 19102$136,904
Permit CapitalInvestment Management Services101 FRONT STREET SUITE 940, West Conshohocken, PA 19425$101,181
Revenue and Support

Revenue Composition

Contributions and Grants
$19,037,119
Program Service Revenue
$0
Investment Income
$2,467,759
Other Revenue
$246,076
All Other Contributions
$19,037,119
Change in Net Assets
$-9,158,743

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,575,016
Revenue Not Reported on Financial Statements
$175,938
Revenue Not Reported on Form 990
$3,077,681
Total Revenue per Audited Statements
$24,652,697
Total Revenue per Form 990
$21,750,954
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,932,164
Other Expenses$3,542,752
Salaries, Compensation, and Employee Benefits$2,434,781
Total Fundraising Expense$1,031,618
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$24,904,064--$24,904,064
Fees for Services Other$2,445,088$116,893$73,262$2,635,243
Other Salaries and Wages$669,271$138,940$238,357$1,046,568
Current Officers, Directors, Trustees, and Key Employees$390,154$179,165$425,734$995,053
Fees for Service Investment Mgmnt Fees-$175,938-$175,938
Conferences and Meetings$98,592$9,391$51,843$159,826
Pension Plan Contributions$62,823$23,415$61,568$147,806
Fees for Services Legal-$137,975-$137,975
Other Employee Benefits$29,460$50,887$44,716$125,063
Payroll Taxes$62,125$21,150$37,016$120,291
Occupancy$27,569$21,443$29,533$78,545
Office Expenses$30,310$19,312$14,297$63,919
Travel$33,967$6,068$15,947$55,982
Other Expenses$41,890$3,286$10,646$41,890
Fees for Services Accounting-$41,250-$41,250
Advertising$12,394$6,876$18,024$37,294
Information Technology$12,126$9,731$10,602$32,459
Grants to Domestic Individuals$28,100--$28,100
Insurance-$27,129-$27,129
Depreciation Depletion$68$3,614$73$3,755
Total Functional Expenses$28,885,616$992,463$1,031,618$30,909,697

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$30,909,697
Expenses per Audited Statements$30,733,759
Total Expenses per Audited Statements$30,733,759
Expenses Not Reported on Financial Statements$175,938
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Philadelphia InquirerPhiladelphia, PA501(c)(3)THE INSTITUTE IS SUPPORTING THE INQUIRER'S TRANSITION FROM A TRADITIONAL PRINTED NEWSPAPER TO AN ECONOMICALLY SUSTAINABLE, PRIMARILY DIGITAL, EQUITABLE NEWS ENTERPRISE. A SERIES OF GRANTS WERE MADE TO THE INQUIRER TO FUND (A) HIGH IMPACT JOURNALISM, INCLUDING WORK BY ITS INVESTIGATIVE TEAM, SPOTLIGHT PA, HEALTH COVERAGE AND A SERIES ON THE FUTURE OF WORK IN PHILADELPHIA ($2,415,148) AND (B) NEWS TECHNOLOGY AND PRODUCT IMPROVEMENTS, INCLUDING A GRANT FOR DIGITAL TRANSFORMATION ACCELERATION, MARKETING CLOUD IMPLEMENTATION, DIGITAL SUBSCRIPTION PROCESS IMPROVEMENTS, AND OTHER TECHNOLOGY SUPPORT ($1,855,000), AND (C) THE IMPLEMENTATION OF DIVERSITY, EQUITY AND INCLUSION STRATEGIES TO ENABLE THE NEWS ORGANIZATION TO DIVERSIFY ITS LEADERSHIP AND MORE EQUITABLY COVER THE PHILADELPHIA REGION ($1,405,000).$5,675,148
The CityNew York, NY501(c)(3)(L) = $5,000, (V) = $4,019,798$4,024,798
Resolve Philadelphia IncPhiladelphia, PA501(c)(3)(I) = $760,000, (J) = $1,000,000, (K) = $10,000, (L) = $60,000$1,830,000
First Draft News IncNew York, NY501(c)(3)(U) = $1,730,403$1,730,403
Local Media FoundationLake City, MI501(c)(3)(E) = $55,000, (P) = $1,610,000$1,665,000
WhyyPhiladelphia, PA501(c)(3)(A) = $50,000, (G) = $350,000, (H) = $25,000, (M) = $5,000$430,000
Chalkbeat IncNew York, NY501(c)(3)(A) = $100,000, (H) = $200,000$300,000
Wurd Radio LLCChalfont, PA501(c)(3)(C) = $100,000, (G) = $170,000, (H) = $20,000$290,000
Los Angeles Times CommunicationsEl Segundo, CA501(c)(3)(A) = $150,000, (B) = $75,000$225,000
La Noticia IncCharlotte, NC501(c)(3)(A) = $200,000$200,000
Gannett Co IncMclean, VA501(c)(3)(A) = $150,000, (Q) = $5,000$155,000
Seattle Times CompanySeattle, WA501(c)(3)(A) = $150,000, (M) = $5,000$155,000
Advance Local NewsDetroit, MI501(c)(3)(A) = $150,000$150,000
Albuquerque PublishiAlbuquerque, NM501(c)(3)(A) = $150,000$150,000
Anchorage Daily News LLCAnchorage, AK501(c)(3)(A) = $150,000$150,000
Atlanta Journal ConstitutionAtlanta, GA501(c)(3)(A) = $150,000$150,000
Boston Globe LLCBoston, MA501(c)(3)(A) = $150,000$150,000
Capital City Press LLCBaton Rouge, LA501(c)(3)(B) = $150,000$150,000
Herald Publishing CoCarroll, IA501(c)(3)(B) = $150,000$150,000
Lee Enterprises IncDavenport, IA501(c)(3)(A) = $150,000$150,000
Mc Clatchy InteractiveRaleigh, NC501(c)(3)(A) = $150,000$150,000
Media News Group IncReading, PA501(c)(3)(A) = $150,000$150,000
Memphis Fourth Estate IncMemphis, TN501(c)(3)(B) = $150,000$150,000
Newsday LLCMelville, NY501(c)(3)(A) = $150,000$150,000
Philadelphia TribunePhiladelphia, PA501(c)(3)(A) = $150,000$150,000
San Francisco Chroniclesf GateSan Francisco, CA501(c)(3)(A) = $150,000$150,000
Star Tribune Media Company LLCMinneapolis, MN501(c)(3)(A) = $150,000$150,000
The Dallas Morning News IncDallas, TX501(c)(3)(A) = $150,000$150,000
The Post and Courier IncCharleston, SC501(c)(3)(B) = $150,000$150,000
The Salt Lake TribuneSalt Lake City, UT501(c)(3)(A) = $150,000$150,000
Times Publishing CompanySt Petersburg, FL501(c)(3)(A) = $150,000$150,000
Tribune Publishing Company LLCChicago, IL501(c)(3)(A) = $150,000$150,000
Wehco Media IncLittle Rock, AR501(c)(3)(A) = $150,000$150,000
The Center for Michigan IncAnn Arbor, MI501(c)(3)(A) = $100,000, (F) = $25,000, (M) = $5,000$130,000
San Antonio ReportSan Antonio, TX501(c)(3)(A) = $100,000, (D) = $24,350, (M) = $5,000$129,350
Mde City PaperWashington, DC501(c)(3)(A) = $100,000, (D) = $25,000$125,000
Public Source IncPittsburgh, PA501(c)(3)(A) = $100,000, (D) = $25,000$125,000
Board of Regents KunrReno, NV501(c)(3)(A) = $100,000, (M) = $5,000$105,000
City Limits News IncNew York, NY501(c)(3)(A) = $100,000, (M) = $5,000$105,000
Detroit Educational Television FoundationWixom, MI501(c)(3)(A) = $100,000, (M) = $5,000$105,000
MinnpostMinneapolis, MN501(c)(3)(A) = $100,000, (M) = $5,000$105,000
New Hampshire Public BroadcastingDurham, NH501(c)(3)(A) = $100,000, (M) = $5,000$105,000
Oklahoma State University FoundationStillwater, OK501(c)(3)(A) = $100,000, (M) = $5,000$105,000
San Jose News BureauSan Jose, CA501(c)(3)(A) = $100,000, (M) = $5,000$105,000
ScalawagDurham, NC501(c)(3)(A) = $100,000, (M) = $5,000$105,000
Vermont Journalism Trustvt DiggerMontpelier, VT501(c)(3)(A) = $100,000, (M) = $5,000$105,000
Wausau Pilot & ReviewWausau, WI501(c)(3)(A) = $100,000, (M) = $5,000$105,000
Wisconsin Center for Investigative Journalism (wisconsin Watch)Madison, WI501(c)(3)(A) = $100,000, (M) = $5,000$105,000
Ashley Woodsdetour MediaHuntington Woods, MI501(c)(3)(A) = $100,000$100,000
Atlanta Educational Telecommunications CollabAtlanta, GA501(c)(3)(A) = $100,000$100,000
Berkeleyside IncBerkeley, CA501(c)(3)(A) = $100,000$100,000
CalmattersSacramento, CA501(c)(3)(A) = $100,000$100,000
Germantown Community BroadcastingPhiladelphia, PA501(c)(3)(N) = $100,000$100,000
Media in Neighborhoods Group LLCPhiladelphia, PA501(c)(3)(N) = $100,000$100,000
Planck Dba Patch MediaNew York, NY-(A) = $100,000$100,000
Richland Times LLCMansfield, OH-(A) = $100,000$100,000
The Colorado SunDenver, CO-(A) = $100,000$100,000
The Devil StripAkron, OH-(A) = $100,000$100,000
University of UtahSalt Lake City, UT-(A) = $100,000$100,000
Voice of Orange CountySanta Ana, CA-(A) = $100,000$100,000
Technically Media IncPhiladelphia, PA-(W) = $96,000$96,000
Nueva Esperanza IncPhiladelphia, PA-(D) = $25,000, (N) = $55,000$80,000
Dorsey Media LLCAtlanta, GA-(N) = $75,000$75,000
Craig Newmark Graduate School of Journalism Cuny Foundation IncNew York, NY-(T) = $74,000$74,000
New York UniversityNew York, NY-(Y) = $72,912$72,912
Pennsylvania Prison SocietyPhiladelphia, PA-(N) = $70,000$70,000
New Mainstream Press IncBala Cynwyd, PA-(N) = $60,000$60,000
Colorado Public RadioCentennial, CO-(A) = $50,000, (M) = $5,000$55,000
Culturetrust PhiladelphiaPhiladelphia, PA-(L) = $5,000, (N) = $50,000$55,000
Media Mobilizing ProjectPhiladelphia, PA-(N) = $50,200$50,200
Ai for the PeopleBrooklyn, NY-(N) = $50,000$50,000
M&g Associates LLCPhiladelphia, PA-(N) = $50,000$50,000
Philadelphia Association of Black JournalistsPhiladelphia, PA-(O) = $50,000$50,000
The Big Picture AlliancePhiladelphia, PA-(N) = $50,000$50,000
SUPPORTIVE OLDER WOMEN'S NETWORKPhiladelphia, PA-(N) = $40,000$40,000
Internews NetworkArcata, CA-(Q) = $38,000$38,000
Botcast IncSt Paul, MN-(R) = $30,000$30,000
CatchlightSan Francisco, CA-(D) = $25,000, (M) = $5,000$30,000
Public Media Group of Southern CaliforniaBurbank, CA-(F) = $25,000, (M) = $5,000$30,000
San Francisco PublicSan Francisco, CA-(D) = $25,000, (M) = $5,000$30,000
The Groundtruth Project IncBrighton, MA-(S) = $30,000$30,000
Advocate Foundation IncDallas, TX-(D) = $25,000$25,000
Afro American Company of Baltimore CityBaltimore, MD-(D) = $25,000$25,000
Arizona Daily StarTuscon, AZ-(D) = $25,000$25,000
Bangor Publishing CoBangor, ME-(D) = $25,000$25,000
Graham Media GroupChicago, IL-(F) = $25,000$25,000
Issue Media Group LLCSaginaw, MI-(D) = $25,000$25,000
Koahnic Broadcast CoAnchorage, AK-(D) = $25,000$25,000
La Raza NewspaperChicago, IL-(D) = $25,000$25,000
Manchester Ink LinkManchester, NH-(D) = $25,000$25,000
Michigan Environmental CouncilLansing, MI-(D) = $25,000$25,000
Phoenix Newspapers IncPhoenix, AZ-(D) = $25,000$25,000
The Everyday Projects IncBrooklyn, NY-(D) = $25,000$25,000
The Washington InformerWashington, DC-(F) = $25,000$25,000
Niagara Frontier Radio Reading ServiceBuffalo, NY-(D) = $24,996$24,996
Embarcadero MediaPalo Alto, CA-(D) = $23,650$23,650
El Centro Hispano IncDurham, NC-(D) = $18,000, (M) = $5,000$23,000
Greater Greater WashingtonWashington, DC-(F) = $22,393$22,293
Institute for Nonprofit NewsLos Angeles, CA-(D) = $22,000$22,000
The Sacramento BeeSacramento, CA-(D) = $21,000$21,000
Pennsylvanians for Modern CourtsPhiladelphia, PA-(X) = $20,000$20,000
Minerva Media LLCCary, NC-(D) = $19,524$19,524
Blue Grass CommunityLexington, KY-(D) = $18,250$18,250
Asian American Journalists AssociationSan Francisco, CA-(O) = $15,000$15,000
Delaware CurrentsPort Jervis, NY-(H) = $12,100$12,100
Africa Institute for International ReportingBrooklyn Center, MN-(M) = $10,000$10,000
Umkc FoundationKansas City, MO-(F) = $7,400$7,400
Green Philly CompanyPhiladelphia, PA-(H) = $6,000$6,000
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

During the tax year, the institute changed its name from 'tpf special assets fund' to 'the lenfest institute for journalism special asset fund of the philadelphia foundation'. Due to e-file character limitations, form 990, page 1, box c is limited to 'the lenfest institute for journalism special asset fund of tpf'.

Form 990, Part VI, Section A, Line 6

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.

Form 990, Part VI, Section A, Line 7A

Tpf has the power to appoint and remove all members of the board of directors 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.

Form 990, Part VI, Section A, Line 7B

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

Form 990, Part VI, Section A, Line 8B

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

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent accounting firm working closing 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.

Form 990, Part VI, Section B, Line 12

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.

Form 990, Part VI, Section B, Line 15B

The executive committee of the institute's board of managers, without participation of the institute's ceo, is responsible for establishing annual compensation for the institute's ceo. Prior to the annual anniversary of the ceo's hiring date, the executive committee researches comparable salary and benefits data, such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, similar budget and located in the same or a similar geographic region pay their senior leaders. The executive committee may choose to use an outside expert to assist it with this research. The executive committee documents who was involved and the process used to conduct the salary review, including the criteria used to evaluate the performance of the ceo. It presents its performance review, comparable salary data and compensation recommendations to the full board for its approval prior to the annual anniversary of the ceo's hiring date. This process last occurred in 2020. The institute's ceo is responsible for reviewing and deciding compensation for other key employees of the organization. The 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 ceo discusses compensation decisions with members of the executive committee. This process last occurred in 2020.

Form 990, Part VI, Section C, Line 19

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.

Filing and Contact Details

Filer

Filer Name
The Lenfest Institute for Journalism
EIN
04-3731829
Phone
2155636417
Address
1835 MARKET STREET NO 2410, PHILADELPHIA, PA 19103

Signing Officer

Name
Pedro a Ramos
Title
President & CEO
Phone
2155636417
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pedro a Ramos
Formed
2002
Legal Domicile
Pa
Voting Board Members
32
Independent Board Members
30
Employees
20
Volunteers
34

Preparer

Firm
Cliftonlarsonallen Llp
Address
610 W GERMANTOWN PIKE SUITE 400, PLYMOUTH MEETING, PA 19462
Preparer
Connie M Lira
Phone
2156433900
Supplemental Narrative

Additional Explanations

FORM 990, PART IV, LINE 2A:

For the purpose of reporting the number of employees during the year, the institute is reporting on part iv, line 2a the employees paid by a related organization, the philadelphia foundation, since the institute reimburses the salary and benefits paid to these individuals.

FORM 990, PART IX, LINES 5 AND 7:

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

Financial Statement Notes

PART V, LINE 4:

The purpose of the permanently restricted endowment is to support current operations through a total return investment strategy and a spending policy set to maintain, and ideally increase the purchasing power of the endowment without putting the principal value of these funds at risk. The temporarily restricted endowment funds are restricted to support the inquirer's transition to digital news delivery.

Raw XML AppendixShowing 400 of 2,269 raw XML fields

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/PersonNm17MICHAEL K PEARSON
IRS990/Form990PartVIISectionAGrp/PersonNm18R DUANE PERRY
IRS990/Form990PartVIISectionAGrp/PersonNm19ANDREW ROGOFF
IRS990/Form990PartVIISectionAGrp/PersonNm20JANE SCACCETTI
IRS990/Form990PartVIISectionAGrp/PersonNm21AMANDA BENNETT
IRS990/Form990PartVIISectionAGrp/PersonNm22MICHAEL X DELLI CARPINI PH D
IRS990/Form990PartVIISectionAGrp/PersonNm23BILL GRUESKIN
IRS990/Form990PartVIISectionAGrp/PersonNm24DAVID HAAS
IRS990/Form990PartVIISectionAGrp/PersonNm25TONY HAILE
IRS990/Form990PartVIISectionAGrp/PersonNm26KEITH LEAPHART
IRS990/Form990PartVIISectionAGrp/PersonNm27MARTIN NISENHOLTZ
IRS990/Form990PartVIISectionAGrp/PersonNm28HONG QU
IRS990/Form990PartVIISectionAGrp/PersonNm29VIJAY RAVINDRAN
IRS990/Form990PartVIISectionAGrp/PersonNm30ROY ROSIN
IRS990/Form990PartVIISectionAGrp/PersonNm31ANTHONY J CONTI
IRS990/Form990PartVIISectionAGrp/PersonNm32KEN HERTS
IRS990/Form990PartVIISectionAGrp/PersonNm33ORLANDO ESPOSITO
IRS990/Form990PartVIISectionAGrp/PersonNm34KAREN CLEARY
IRS990/Form990PartVIISectionAGrp/PersonNm35ANNIE MADONIA
IRS990/Form990PartVIISectionAGrp/PersonNm36JANELLE STAFFORD
IRS990/Form990PartVIISectionAGrp/PersonNm37REBECCA FORMAN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt370
IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY, PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF EXECUTIVE OFFICER - LLC
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR AS OF JUL 2020
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR - LLC
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE CHAIR - LLC
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 MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21MANAGER - LLC
IRS990/Form990PartVIISectionAGrp/TitleTxt22MANAGER - LLC

Document Assets

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Filings

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