Philadelphia Accelerator Fund
Nonprofit profile at a glance
- EIN
- 843332182
- IRS 990 coverage
- 2021–2025
- Official website data refreshed
- Jul 2026
- Forms available
- Form 990 2025
- Location
- Philadelphia, PA, USA
- Phone
- 5169842559
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $1,102,931
- Expenses
- $895,304
- Assets
- $19,146,835
- Liabilities
- $16,046,946
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
17 people listed
Highest reported compensation
- LEAH APGAR (DIRECTOR OF): $130,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
PAF’s mission is to support the production and preservation of affordable housing and community development projects in the City of Philadelphia to benefit low-income people and low-income communities.
What it reported doing in 2025
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.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 70
- Accountability: 79
- Sustainability: 63
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 59.4%; rating input score 59
- Program expense ratio: 69%; rating input score 69
- Fundraising efficiency: $6.66 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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; 64th percentile among comparable filings
- Governance controls: 4 of 9 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Limited
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 18.8%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 21.39; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.84; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 32.4%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 42.8% per year; rating input score 100; 93rd percentile among comparable filings
- Revenue growth: 56.4% per year; rating input score 100; 96th percentile among comparable filings
- Asset growth: 15.8% per year; rating input score 100; 71st percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 59.4% of revenue deployed · 69% of spending went to programs
- Governance: 15 of 15 board members independent · 4 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $618K in reported program spending
- Leadership: top reported pay $160K · 17 people listed · 1 of 6 pay-setting controls reported
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 5 filing years from 2021 to 2025
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Financial Efficiency: Mission deployment rate scored 59/100.
- Review — Accountability: Governance controls: 4 of 8 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 23/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- High — Sustainability: Officer compensation ratio scored 7/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.