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← THE MERCHANTS FUND OF PHILADELPHIA

Form 990 for tax year 2022

Filed by THE MERCHANTS FUND OF PHILADELPHIA.

Totals

Total revenue
$540,760
Total expenses
$1,100,033
Contributions and grants received
$158,252
Grants paid
$718,997
Program service revenue
$0
Investment income
$382,508
Other revenue
$0
Total assets, end of year
$14,303,804
Total liabilities, end of year
$10,000
Net assets or fund balances, end of year
$14,293,804
Program services expenses (Part IX)
$947,927
Management and general expenses
$147,106
Fundraising expenses
$5,000
Program service expenses (Part III)
$947,927

Program services were 86.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $158,252

  • 3 · Investment income

    total $406,619 · excluded $406,619

  • 7a · Gross sales of assets other than inventory

    securities $797,592

  • 7b · Less cost or other basis and sales expenses

    securities $821,703

  • 7c · Gain or loss

    securities -$24,111

  • 7d · Net gain or loss

    total -$24,111 · excluded -$24,111

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $680,237 · program services $680,237

  • 2 · Grants to domestic individuals

    total $38,760 · program services $38,760

  • 5 · Compensation of officers, directors and key employees

    total $152,581 · program services $101,849 · management and general $48,006 · fundraising $2,726

  • 7 · Other salaries and wages

    total $53,519 · program services $35,725 · management and general $16,838 · fundraising $956

  • 8 · Pension plan contributions

    total $701 · program services $468 · management and general $220 · fundraising $13

  • 9 · Other employee benefits

    total $13,285 · program services $8,868 · management and general $4,180 · fundraising $237

  • 10 · Payroll taxes

    total $16,599 · program services $11,080 · management and general $5,222 · fundraising $297

  • 11b · Fees: legal

    total $20,380 · management and general $20,380

  • 11g · Fees: other

    total $70,901 · program services $31,057 · management and general $39,844

  • 12 · Advertising and promotion

    total $5,386 · program services $5,386

  • 14 · Information technology

    total $9,370 · program services $9,370

  • 16 · Occupancy

    total $14,942 · program services $7,420 · management and general $6,779 · fundraising $743

  • 17 · Travel

    total $4,838 · program services $4,838

  • 19 · Conferences, conventions and meetings

    total $6,812 · program services $3,817 · management and general $2,967 · fundraising $28

  • 23 · Insurance

    total $5,013 · program services $4,113 · management and general $900

  • 24a · Other expenses: MISCELLANEOUS

    total $6,709 · program services $4,939 · management and general $1,770

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $220,401 · end of year $209,127

  • 2 · Savings and temporary cash investments

    end of year $348,391

  • 3 · Pledges and grants receivable

    end of year $10,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,683 · end of year $19,234

  • 11 · Investments: publicly traded securities

    beginning of year $9,823,827 · end of year $6,942,389

  • 15 · Other assets

    beginning of year $8,073,431 · end of year $6,774,663

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,834

  • 18 · Grants payable

    beginning of year $14,000 · end of year $10,000

  • 27 · Net assets without donor restrictions

    beginning of year $9,998,537 · end of year $7,510,031

  • 28 · Net assets with donor restrictions

    beginning of year $8,120,971 · end of year $6,783,773

Mission and programs · 2022

Mission

THE MERCHANTS FUND PROVIDES GRANTS AND OTHER SUPPORT TO MERCHANTS AND SMALL BUSINESSES IN PHILADELPHIA.

Activities or mission (Part I)

TO PROVIDE GRANTS AND OTHER SUPPORT TO MERCHANTS AND SMALL BUSINESSES IN PHILADELPHIA.

  • MAKE DIRECT GRANTS TO BUSINESSES, SUPPORTING RETIRED MERCHANTS THROUGH OUR LEGACY PROGRAM, AND OFFERING "BEYOND THE GRANT" SERVICES THAT PROVIDE COACHING AND OTHER BUSINESS SUPPORT SERVICES.

    Expenses $947,927 · Grants $718,997

As filed on the 2022 return.

Listed in Part VII

  • Bruce Hotaling

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Steven King

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • James Johnson-Piett

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ana Lisa Yoder

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kersy Azocar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Banks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Melissa Kim

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carey Morgan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Shawn Nesbit

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Samantha Porter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Shalimar Thomas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andy Toy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dafan Zhang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Adnan Zulfiqar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Ginsberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jill Fink

    EXECUTIVE DIRECTOR

    Total calculated
    $152,581
    From this org
    $144,296
    From related orgs
    $0
    Other
    $8,285
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,296
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,285
    Filer's total
    $152,581

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • URBANE DEVELOPMENT INC

    $145,000

    COMMMUNITY WEALTH BUILDING STRATEGIES

  • LA PRINCESA MINI MARKET

    $20,000

    EMERGENCY

  • LEE'S DELI

    $15,000

    EMERGENCY

  • LINCOLN FRIED CHICKEN

    $15,000

    EMERGENCY

  • 2 SISTERS GROCERY STORE

    $10,000

    STABILIZATION

  • ACTUALIDAD INFORMATIVA TV

    $10,000

    STABILIZATION

  • ADONIS GALLERY

    $10,000

    STABILIZATION

  • AMERICAN AUTO BODY REPAIR & TIRE INC

    $10,000

    STABILIZATION

  • ARTESANA MUNDO DE QUEEN

    $10,000

    STABILIZATION

  • CANTINA LA MARTINA

    $10,000

    STABILIZATION

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202312929349301016

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