Philadelphia City Fund Inc

Nonprofit profile at a glance

EIN
232174863
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2156860321
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$23,667,496
Expenses
$24,473,895
Assets
$35,097,104
Liabilities
$8,390,024

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JODY B GREENBLATT (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JODY B GREENBLATT (EXECUTIVE DIRECTOR): $189,128 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Philadelphia City Fund serves as the fiscal sponsor for the City of Philadelphia and leverages public-private partnerships in collaboration with the City, the philanthropic community, and the residents of Philadelphia.

What it reported doing in 2024

The Philadelphia Marathon is unique in a running event in that it is produced and operated by the City of Philadelphia. The city hosts the international running community for a marathon and associated races (an exposition and half marathon) over the course of a weekend. In recent years, the annual total participation has averaged 31,000 people.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 72
  • Accountability: 100
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.2%; rating input score 98
  • Program expense ratio: 94.9%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th 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: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96.7%; rating input score 97; 26th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -3.4%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.43; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 87; 87th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 98.2% of revenue deployed · 94.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $23.2M in reported program spending
  • Leadership: top reported pay $189K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1.1M reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 95 filed money-flow records
  • Related organizations: 94 filed related-organization links
  • 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.

  • High — Sustainability: Operating margin scored 20/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.