Independence Historical Trust

What it reported doing in 2024

In 2024, the organization increased its community engagement activities while supporting major initiatives in independence national historical park and the surrounding gateway community. During that year, the trust accomplished the following programmatic activities: 1) fundraising: this year, the trust completed the design phase and broke ground for the pedestrian plaza that is part of the redesign for the market street road diet. This project will increase mobility, provide bike- friendly lanes, and create a plaza that honors the lenape leader chief tamanend. The organization held a ribbon-cutting for the completed benjamin rush garden, which is the new home for the bicentennial bell. The garden is a welcome green space in the city that locals and visitors alike take advantage of. Also this year, the organization, with the support of generous donors, supported the restoration of a historic guardhouse in Washington square, which won a conservation award from the preservation alliance of greater philadelphia. Through financial support from the commonwealth of Pennsylvania, the organization was able to repair over 30 leather reproduction chairs in congress hall and purchase and install a handicap accessible ramp on the south side of independence square. 2) community outreach: with the continued goal to increase awareness of the national park and the organization, community programs reached over 6,000 and were offered to all age groups, and even some dogs. In 2024, the organization hosted yoga in the park, movies on the mall, and bark ranger programs. The programs help all people, all ages, and even some dogs, connected with the national park on multiple levels. 3) volunteering: supporting the national park service's mission to engage people, the trust worked with the park and partners to host volunteer days at the national park. Volunteers cleaned, weeded, mulched, and planted across the park to help beautify the national park before the busy summer season. A total of xx volunteers joined the organization. 4) twilight tours: the trust offered free, evening walking tours on the history of the national park. Over 2,550 attendants from 45 different states and 55 foreign countries attended the program.

Financial Efficiency

• Mission deployment rate: 29.4%; rating input score 29
• Program expense ratio: 58.9%; rating input score 59
• Fundraising efficiency: $7.41 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 6 of 7 controls in place; rating input score 86
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 52.8%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 4.57; rating input score 82; 82nd percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings
• Revenue growth: 15.2% per year; rating input score 100; 82nd percentile among comparable filings
• Asset growth: 17.2% per year; rating input score 100; 79th percentile among comparable filings