Civic Intelligence

Philadelphia Accelerator Fund

990 • Fiscal year 2025 • EIN 84-3332182

Jan 01, 2025 to Dec 31, 2025 • Filed on Apr 01, 2026

Organization ProfileWWW.PHLFUND.COM

View Organization Page

100 East Penn Square Suite 409Philadelphia, PA 19107

(516) 984-2559

Siviq Scores

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

Liabilities / Assets

91st percentile

0.84x

Higher debt load relative to assets than 91% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

98th percentile

14.55x

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

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

41st percentile

$160,000

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

76th percentile

13%

Faster asset growth than 76% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

4th percentile

-42%

Faster revenue growth than 4% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$19,146,835

Up $2,203,999 (+13%) from 2024

Net Assets

Up

$3,099,889

Up $207,627 (+7.2%) from 2024

Liabilities

Up

$16,046,946

Up $1,996,372 (+14%) from 2024

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin74th percentile

Revenue

Down

$1,102,931

Down $796,034 (-42%) from 2024

Expenses

Up

$895,304

Up $238,759 (+36%) from 2024

Net Income

Down

$207,627

Down $1,034,793 (-83%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth76th 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: $2,892,2622024Assets 2025: $19,146,835Liabilities 2025: $16,046,946Net Assets 2025: $3,099,8892025

Highlighted filing

2025

Assets$19,146,835
Liabilities$16,046,946
Net Assets$3,099,889
Open 2025 Filing

Operations Trend

Revenue Growth4th 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: $1,242,4202024Revenue 2025: $1,102,931Expenses 2025: $895,304Net Income 2025: $207,6272025

Highlighted filing

2025

Revenue$1,102,931
Expenses$895,304
Net Income$207,627
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Apr 1, 2026
Return Version
2025v4.0
Gross Receipts
$1,102,931
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$4,427,398$6,004,739▲ $1,577,341
Cash and Non-Interest-Bearing Accounts$2,450,951$3,085,817▲ $634,866
Investments Other Securities$3,769,568$3,000,000▼ $769,568
Prepaid Expenses and Deferred Charges-$7,500-
Total Assets$16,942,836$19,146,835▲ $2,203,999
Other Assets Total$6,294,919$7,048,779▲ $753,860
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,955,928$15,955,928▲ $2,000,000
Deferred Revenue$52,364$65,305▲ $12,941
Accounts Payable and Accrued Expenses$19,595$15,401▼ $4,194
Other Liabilities$22,687$10,312▼ $12,375
Total Liabilities$14,050,574$16,046,946▲ $1,996,372
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,992,262$2,199,889▲ $207,627
Net Assets With Donor Restrictions$900,000$900,000→ $0
Total Net Assets Fund Balance$2,892,262$3,099,889▲ $207,627
Total Liabilities and Net Assets / Fund Balance$16,942,836$19,146,835▲ $2,203,999

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,800--
Other Securities$3,000,000--
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Leah ApgarExecutive DiFT$160,000$160,000
-Executive Director-$160,000$160,000
-Director ofFT$130,000$130,000

Board Members and Trustees

NameTitle
Mo RushdyChair
Charles LomaxVice Chair
Anne FadullonDirector
David ThomasDirector
James SandersDirector
Jennifer Lucas CrowtherDirector
John MondiakDirector
Karen FegelyDirector
Matthew StittDirector
Michael JohnsDirector
Paul BadgerDirector
Suzanne S Mayes EsqDirector
Vidhi AndersonDirector
Jennifer BellotSecretary
Katya NoreikaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$311,393
Program Service Revenue
$314,778
Investment Income
$474,910
Other Revenue
$1,850
All Other Contributions
$265,000
Change in Net Assets
$207,627

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,102,931
Total Revenue per Audited Statements
$1,102,931
Total Revenue per Form 990
$1,102,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$527,208
Salaries, Compensation, and Employee Benefits$368,096
Total Fundraising Expense$46,757
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$227,310$75,770-$303,080
Fees for Services Other$163,103--$163,103
Interest$115,115--$115,115
Fees for Services Legal-$92,229-$92,229
Advertising--$46,757$46,757
Other Employee Benefits$29,735$9,912-$39,647
Fees for Services Accounting-$33,559-$33,559
Insurance$33,323--$33,323
Payroll Taxes$19,027$6,342-$25,369
Occupancy$13,599--$13,599
Office Expenses-$13,034-$13,034
Travel$3,641--$3,641
Other Expenses$3,333--$3,333
Fees for Service Investment Mgmnt Fees$470--$470
Total Functional Expenses$617,701$230,846$46,757$895,304

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$895,304
Total Expenses per Audited Statements$895,304
Total Expenses per Form 990$895,304
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$10,312
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 12C

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

Form 990, Page 6, Part VI, Line 19

“Documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Philadelphia Accelerator Fund
EIN
84-3332182
Phone
5169842559
Address
100 EAST PENN SQUARE SUITE 409, PHILADELPHIA, PA 19107

Signing Officer

Name
David Langlieb
Title
Executive Director
Phone
2154969373
Signed
2026-04-01
Discuss with paid preparer
Yes

Organization Details

Formed
2019
Legal Domicile
Pa
Voting Board Members
15
Independent Board Members
15
Employees
2

Preparer

Firm
Baratz & Associates Pa
Address
4B EVES DR STE 100, MARLTON, NJ 08053
Preparer
Ryan Dowdell CPA
Phone
8569855688
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Credit analysis 50,195 0 0 servicing 18,697 0 0 other professional fees 94,211 0 0 total 163,103 0 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“Fasb ac 740-10-65-1 requires financial statement recognition of the impact of a tax position, if that position is more likely than not to be sustained on examination, based on the technical merits of the position. The benefit is calculated as the largest amount that is more than 50 percent likely to be realized upon resolution of the benefit. The organization has evaluated its tax positions and believes all could be sustained upon examination. With new exceptions, the organization is no longer subject to income tax examinations by federal authorities for years before 2022.”

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IRS990/MissionDesc0MAKING LOW COST LOANS IN AFFORDABLE HOUSING PROJECTS THROUGHOUT THE CITY OF PHILADELPHIA TO INCREASE THE AVAILABILITY AND QUALITY OF AFFORDABLE HOUSING TO CITY RESIDENTS.
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IRS990/PayrollTaxesGrp/ProgramServicesAmt019027
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IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/Desc0INTREST FROM CUSTOMER LOANS
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IRS990/PYTotalRevenueAmt01898965
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01552643
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt136667
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31800
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED CASH
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1LOAN ORIGINATION FEES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RIGHT OF USE ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3SECURITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0CERTIFICATE OF DEPOSIT
IRS990ScheduleD/RevenueSubtotalAmt01102931
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FASB AC 740-10-65-1 REQUIRES FINANCIAL STATEMENT RECOGNITION OF THE IMPACT OF A TAX POSITION, IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON EXAMINATION, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE BENEFIT IS CALCULATED AS THE LARGEST AMOUNT THAT IS MORE THAN 50 PERCENT LIKELY TO BE REALIZED UPON RESOLUTION OF THE BENEFIT. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS AND BELIEVES ALL COULD BE SUSTAINED UPON EXAMINATION. WITH NEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY FEDERAL AUTHORITIES FOR YEARS BEFORE 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt010312
IRS990ScheduleD/TotalRevenuePerForm990Amt01102931
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IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0160000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt0DAVID LANGLIEB
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0160000
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY IS CIRCULATED TO ALL MEMBERS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CREDIT ANALYSIS 50,195 0 0 SERVICING 18,697 0 0 OTHER PROFESSIONAL FEES 94,211 0 0 TOTAL 163,103 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,146,835
Liabilities
$16,046,946
Net assets
$3,099,889
Revenue
$1,102,931
Expenses
$895,304
Net income
$207,627
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$19.1$16.0$3.10$1.10$0.90$0.21
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
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