Civic Intelligence

Cathedral Close Inc

EIN 46-3632762 • 501(c)3 • Philadelphia, PA

Profile

To build and maintain property used by the affiliated philadelphia episcopal cathedral ("the cathedral") to carry out its current and expanding community and social service ministries.

3717 Chestnut Street Suite 200Philadelphia, PA 19104

www.philadelphiacathedral.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

85th percentile

0.73x

Higher debt load relative to assets than 85% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

20.15x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

2nd percentile

-174%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

19th percentile

-4.0%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

9th percentile

-30%

Faster revenue growth than 9% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$0

Down $11,356,235 (-100%) from 2020

Liabilities

Down

$0

Down $8,305,662 (-100%) from 2020

Net Assets

Down

$0

Down $3,050,573 (-100%) from 2020

Revenue

Down

$0

Down $412,181 (-100%) from 2020

Expenses

Down

$0

Down $1,130,307 (-100%) from 2020

Net Income

Up

$0

Up $718,126 (+100%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2013: $15,085,954Liabilities 2013: $14,399,668Net Assets 2013: $686,2862013Assets 2014: $14,363,304Liabilities 2014: $14,392,582Net Assets 2014: -$29,2782014Assets 2015: $14,024,619Liabilities 2015: $14,390,000Net Assets 2015: -$365,3812015Assets 2016: $13,878,974Liabilities 2016: $14,758,562Net Assets 2016: -$879,5882016Assets 2017: $13,405,813Liabilities 2017: $14,540,000Net Assets 2017: -$1,134,1872017Assets 2018: $12,307,862Liabilities 2018: $13,878,538Net Assets 2018: -$1,570,6762018Assets 2019: $11,823,947Liabilities 2019: $13,826,058Net Assets 2019: -$2,002,1112019Assets 2020: $11,356,235Liabilities 2020: $8,305,662Net Assets 2020: $3,050,5732020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2021

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2013: $11,286Expenses 2013: $75,000Net Income 2013: -$63,7142013Revenue 2014: $0Expenses 2014: $715,564Net Income 2014: -$715,5642014Revenue 2015: $487,725Expenses 2015: $1,107,722Net Income 2015: -$619,9972015Revenue 2016: $399,946Expenses 2016: $1,194,153Net Income 2016: -$794,2072016Revenue 2017: $382,261Expenses 2017: $1,155,665Net Income 2017: -$773,4042017Revenue 2018: $383,820Expenses 2018: $1,225,609Net Income 2018: -$841,7892018Revenue 2019: $587,732Expenses 2019: $1,192,891Net Income 2019: -$605,1592019Revenue 2020: $412,181Expenses 2020: $1,130,307Net Income 2020: -$718,1262020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021

Highlighted filing

2021

Revenue$0
Expenses$0
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 9, 2022
Return Version
2021v4.2
Gross Receipts
$0
Mission and Program Overview

Mission

To build and maintain property used by the affiliated philadelphia episcopal cathedral ("the cathedral") to carry out its current and expanding community and social service ministries.

To build and maintain property used by the affiliated philadelphia episcopal cathedral

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,360,580$0▼ $11,360,580
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Cash and Non-Interest-Bearing Accounts$-4,345$0▲ $4,345
Total Assets$11,356,235$0▼ $11,356,235
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,305,662$0▼ $8,305,662
Total Liabilities$8,305,662$0▼ $8,305,662
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,050,573$0▼ $3,050,573
Total Net Assets Fund Balance$3,050,573$0▼ $3,050,573
Total Liabilities and Net Assets / Fund Balance$11,356,235$0▼ $11,356,235
Compensation and Service Providers

Employees

NameTitleOtherTotal
The Very Rev Judith a SullivanPresident$148,714$148,714

Board Members and Trustees

NameTitle
Eric RabeDirector
Gie LiemDirector
Wilson BrownDirector
Norman McclaveTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
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 11B

The 990 was provided to and reviewed by the board of directors prior to filing.

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

Board members are required to disclose any potential conflicts. The board of directors review potential conflicts and discuss whether any action is needed.

Form 990, Part VI, Section C, Line 19

The organization provides documents available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Cathedral Close Inc
EIN
46-3632762
Phone
2153860234
Address
3717 CHESTNUT STREET SUITE 200, PHILADELPHIA, PA 19104

Signing Officer

Name
The Very Rev Judith a Sullivan
Title
President
Phone
2153860234
Signed
2022-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
The Very Rev Judith a S
Formed
2013
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Bbd Llp
Address
1835 MARKET STREET 3RD FLOOR, PHILADELPHIA, PA 19103
Preparer
Jennifer Solot
Phone
2155677770
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Transfers of net assets -3,050,573.

Financial Statement Notes

PART X, LINE 2:

The cathedral and affiliates follow an accounting standard that prescribes a minimum recognition threshold that a tax position is required to meet in order to be recognized in the consolidated financial statements. The cathedral and affiliates believe that they had no uncertain tax positions as defined in the standard.

Raw XML Appendix394 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/OtherCompensationAmt058889
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
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IRS990/Form990PartVIISectionAGrp/PersonNm1NORMAN MCCLAVE
IRS990/Form990PartVIISectionAGrp/PersonNm2WILSON BROWN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
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IRS990/MissionDesc0TO BUILD AND MAINTAIN PROPERTY USED BY THE AFFILIATED PHILADELPHIA EPISCOPAL CATHEDRAL ("THE CATHEDRAL") TO CARRY OUT ITS CURRENT AND EXPANDING COMMUNITY AND SOCIAL SERVICE MINISTRIES.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION BUILT AND MAINTAINED A PROPERTY USED BY THE CATHEDRAL CHURCH OF THE SAVIOUR, ALSO KNOWN AS THE PHILADELPHIA EPISCOPAL CATHEDRAL. DURING 2021, THE ORGANIZATION MERGED WITH ANOTHER CONTROLLED ENTITY AND CEASED TO EXIST.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE SUPPORTED ORGANIZATION IS NOT REQUIRED TO OBTAIN RECOGNITION OF ITS PUBLIC CHARITY STATUS BECAUSE IT IS A CHURCH.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 1:
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CATHEDRAL AND AFFILIATES FOLLOW AN ACCOUNTING STANDARD THAT PRESCRIBES A MINIMUM RECOGNITION THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET IN ORDER TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE CATHEDRAL AND AFFILIATES BELIEVE THAT THEY HAD NO UNCERTAIN TAX POSITIONS AS DEFINED IN THE STANDARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0CATHEDRAL LEGACY ASSETS LLC
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt03717 CHESTNUT STREET SUITE 200
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 WAS PROVIDED TO AND REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS. THE BOARD OF DIRECTORS REVIEW POTENTIAL CONFLICTS AND DISCUSS WHETHER ANY ACTION IS NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION PROVIDES DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRANSFERS OF NET ASSETS -3,050,573.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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