The Philadelphia Cultural Fund Inc

Nonprofit profile at a glance

EIN
232683335
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2674197641
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$14,811,283
Expenses
$8,553,854
Assets
$7,338,351
Liabilities
$16,832

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

Leadership & pay

18 people listed

Executive titles in this filing

  • LANESHE MILLER-WHITE (PRESIDENT)

Highest reported compensation

  • GABRIELA SANCHEZ (EXECUTIVE DI): $150,577 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 cultural fund was established by the city of philadelphia to conduct grant making activity and provide assistance to local arts organizations.

What it reported doing in 2024

The philadelphia cultural fund, inc. Requires that applications be submitted by potential grantee organizations. The application process includes submission of a valid tax exempt 501(c)(3) status along with copies of the organization's form 990 and its related financial statements. The applicant must demonstrate that it maintains an operating address within the city of philadelphia. Organizations that do not have 501(c)(3) status may apply through an approved fiscal sponsor. Grants were made to 339 philadelphia arts organizations & programs.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 68
  • Accountability: 95
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.1%; rating input score 55
  • Program expense ratio: 95.1%; rating input score 95
  • Fundraising efficiency: $337.96 raised per $1 spent on fundraising; rating input score 93; 93rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.8%; rating input score 99; 31st 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.2%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 0.86; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 26% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 55.1% of revenue deployed · 95.1% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.1M in reported program spending
  • Leadership: top reported pay $151K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 238 filed money-flow records
  • Related organizations: 234 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.