Civic Intelligence

Philadelphia Accelerator Fund

990 • Fiscal year 2022 • EIN 84-3332182

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 14, 2023

Organization ProfileN/A

View Organization Page

1234 Market Street 16th FloorPhiladelphia, PA 19107

(215) 496-9373

Siviq Scores

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

Liabilities / Assets

84th percentile

0.84x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

100th percentile

199.86x

Higher debt load relative to revenue than 100% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Net Margin

1st percentile

-615%

Higher net margin than 1% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

23rd percentile

$18,462

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 40.9% of source-year revenue.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Asset Growth

35th percentile

-2.3%

Faster asset growth than 35% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

28th percentile

-18%

Faster revenue growth than 28% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$10,681,998

Down $255,732 (-2.3%) from 2021

Net Assets

Down

$1,659,923

Down $277,807 (-14%) from 2021

Liabilities

Up

$9,022,075

Up $22,075 (+0.2%) from 2021

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$45,143

Down $9,619 (-18%) from 2021

Expenses

Up

$322,950

Up $246,781 (+324%) from 2021

Net Income

Down

-$277,807

Down $256,400 (-1198%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$20M$15M$10M$5.0M$0Assets 2021: $10,937,730Liabilities 2021: $9,000,000Net Assets 2021: $1,937,7302021Assets 2022: $10,681,998Liabilities 2022: $9,022,075Net Assets 2022: $1,659,9232022Assets 2023: $14,162,972Liabilities 2023: $12,513,130Net Assets 2023: $1,649,8422023Assets 2024: $16,942,836Liabilities 2024: $14,050,574Net Assets 2024: $2,892,2622024

Highlighted filing

2022

Assets$10,681,998
Liabilities$9,022,075
Net Assets$1,659,923
Open 2022 Filing

Operations Trend

Revenue Growth28th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2021: $54,762Expenses 2021: $76,169Net Income 2021: -$21,4072021Revenue 2022: $45,143Expenses 2022: $322,950Net Income 2022: -$277,8072022Revenue 2023: $399,105Expenses 2023: $409,186Net Income 2023: -$10,0812023Revenue 2024: $1,898,965Expenses 2024: $656,545Net Income 2024: $1,242,4202024

Highlighted filing

2022

Revenue$45,143
Expenses$322,950
Net Income-$277,807
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 14, 2023
Return Version
2022v5.0
Gross Receipts
$45,143
Mission and Program Overview

Mission

Making low cost loans in affordable housing projects throughout the city of philadelphia to increase the availability and quality of affordable housing to city residents.

Making low cost loans and equity investments in affordable housing projects throughout the city of philadelphia to increase the availability and quality of affordable housing to city residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$10,872,793$10,635,331▼ $237,462
Prepaid Expenses and Deferred Charges$64,937$46,667▼ $18,270
Total Assets$10,937,730$10,681,998▼ $255,732
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,000,000$9,000,000→ $0
Accounts Payable and Accrued Expenses-$15,575-
Deferred Revenue-$6,500-
Total Liabilities$9,000,000$9,022,075▲ $22,075
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,937,730$1,659,923▼ $277,807
Total Net Assets Fund Balance$1,937,730$1,659,923▼ $277,807
Total Liabilities and Net Assets / Fund Balance$10,937,730$10,681,998▼ $255,732
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
David LangliebExecutive DirectorFT$18,462$18,462

Board Members and Trustees

NameTitle
Mo RushdyChair
Anne FadullonDirector
Dana BrownDirector
David ThomasDirector
Jennifer Lucas CrowtherDirector
Karen FegelyDirector
Matthew StittDirector
Paul BadgerDirector
ROBERT McDERMOTTDirector
Suzanne S MayesDirector
Vidhi AndersonDirector
Jennifer BellotSecretary
Charles LomaxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$44,986
Other Revenue
$157
Change in Net Assets
$-277,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$296,470
Total Fundraising Expense$29,076
Salaries, Compensation, and Employee Benefits$26,480
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$0$52,786$0$52,786
Insurance$45,499$0$0$45,499
Other Expenses$37,050$0$0$37,050
Advertising$0$0$29,076$29,076
Current Officers, Directors, Trustees, and Key Employees$18,075$6,025$0$24,100
Fees for Services Accounting$0$5,338$0$5,338
Interest$0$3,333$0$3,333
Payroll Taxes$1,785$595$0$2,380
Office Expenses$0$652$0$652
Total Functional Expenses$222,721$71,153$29,076$322,950
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
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
Filing and Contact Details

Filer

Filer Name
Philadelphia Accelerator Fund
EIN
84-3332182
Phone
2154969373
Address
1234 MARKET STREET 16TH FLOOR, PHILADELPHIA, PA 19107

Signing Officer

Name
David Langlieb
Title
Executive Director
Phone
2154969373
Signed
2023-09-14
Discuss with paid preparer
Yes

Organization Details

Formed
2019
Legal Domicile
Pa
Voting Board Members
13
Independent Board Members
13
Employees
1
Volunteers
14

Preparer

Firm
Renzi Bernardi Suarez & Co
Address
51 Haddonfield Road Suite 100, Cherry Hill, NJ 08002
Preparer
Edward A Suarez CPA MBA
Phone
8568587887
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A draft copy is circulated to all members prior to filing.”

Pt VI, Line 12C

“The board reviews the conflict of interest policy on an annual basis.”

Pt VI, Line 19

“UPON REQUEST.”

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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223191317
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Renzi Bernardi Suarez & Co
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt051 Haddonfield Road Suite 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cherry Hill
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,681,998
Liabilities
$9,022,075
Net assets
$1,659,923
Revenue
$45,143
Expenses
$322,950
Net income
-$277,807
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.9$14.1$2.89$1.90$0.66$1.24
2023Detailed filing. Detailed filing data is available for this year.$14.2$12.5$1.65$0.40$0.41$0.01
2022Detailed filing. Detailed filing data is available for this year.$10.7$9.02$1.66$0.05$0.32$0.28
2021Detailed filing. Detailed filing data is available for this year.$10.9$9.00$1.94$0.05$0.08$0.02