Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $169,500

• 1f · All other contributions, gifts and grants

  $21,361,615

• 3 · Investment income

  total $3,397,957 · excluded $3,397,957

• 7a · Gross sales of assets other than inventory

  securities $12,225,634 · other assets $1,243

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

  securities $11,273,553 · other assets $1,520

• 7c · Gain or loss

  securities $952,081 · other assets -$277

• 7d · Net gain or loss

  total $951,804 · excluded $951,804

• 11a · Other revenue: FEE FOR SERVICE INCOME

  total $173,444 · excluded $173,444

• 11e · Other revenue, total

  $173,444

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $14,991,490 · program services $14,991,490

• 2 · Grants to domestic individuals

  total $100,000 · program services $100,000

• 5 · Compensation of officers, directors and key employees

  total $1,554,714 · program services $541,118 · management and general $370,023 · fundraising $643,573

• 7 · Other salaries and wages

  total $1,303,999 · program services $716,387 · management and general $191,324 · fundraising $396,288

• 8 · Pension plan contributions

  total $57,932 · program services $30,575 · management and general $8,335 · fundraising $19,022

• 9 · Other employee benefits

  total $55,144 · program services $34,110 · management and general $6,666 · fundraising $14,368

• 10 · Payroll taxes

  total $154,491 · program services $71,306 · management and general $31,435 · fundraising $51,750

• 11b · Fees: legal

  total $75,570 · management and general $75,570

• 11c · Fees: accounting

  total $63,459 · management and general $63,459

• 11f · Fees: investment management

  total $121,915 · management and general $121,915

• 11g · Fees: other

  total $3,384,352 · program services $2,986,327 · management and general $347,043 · fundraising $50,982

• 12 · Advertising and promotion

  total $13,785 · program services $11,513 · management and general $956 · fundraising $1,316

• 13 · Office expenses

  total $61,630 · program services $9,893 · management and general $23,495 · fundraising $28,242

• 14 · Information technology

  total $113,463 · program services $53,912 · management and general $26,937 · fundraising $32,614

• 16 · Occupancy

  total $89,805 · program services $31,521 · management and general $24,517 · fundraising $33,767

• 17 · Travel

  total $127,848 · program services $69,603 · management and general $19,158 · fundraising $39,087

• 19 · Conferences, conventions and meetings

  total $319,740 · program services $261,479 · management and general $14,858 · fundraising $43,403

• 22 · Depreciation, depletion and amortization

  total $14,073 · program services $4,939 · management and general $3,842 · fundraising $5,292

• 23 · Insurance

  total $34,839 · management and general $34,839

• 24a · Other expenses: PROGRAM EXPENSES

  total $100,255 · program services $100,255

• 24b · Other expenses: MEMBERSHIP DUES

  total $17,686 · program services $5,204 · management and general $5,823 · fundraising $6,659

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $139,836

• 2 · Savings and temporary cash investments

  beginning of year $21,243,859 · end of year $9,610,895

• 3 · Pledges and grants receivable

  beginning of year $6,839,545 · end of year $14,878,934

• 9 · Prepaid expenses and deferred charges

  beginning of year $32,176 · end of year $30,874

• 10a · Land, buildings and equipment: cost or other basis

  $121,270

• 10b · Land, buildings and equipment: accumulated depreciation

  $27,861

• 10c · Land, buildings and equipment, net

  beginning of year $100,904 · end of year $93,409

• 11 · Investments: publicly traded securities

  beginning of year $81,598,889 · end of year $94,802,559

• 12 · Investments: other securities

  beginning of year $13,858,614 · end of year $13,858,614

• 15 · Other assets

  beginning of year $714,114 · end of year $653,343

• 17 · Accounts payable and accrued expenses

  beginning of year $1,432,854 · end of year $1,326,856

• 18 · Grants payable

  beginning of year $1,628,754 · end of year $3,668,682

• 25 · Other liabilities

  beginning of year $726,491 · end of year $677,108

• 27 · Net assets without donor restrictions

  beginning of year $32,301,963 · end of year $31,690,173

• 28 · Net assets with donor restrictions

  beginning of year $88,437,875 · end of year $96,565,809

The filer's explanations (Part III)

PART I, LINE 3

THE INSTITUTE RELIES ON THE PHILADELPHIA FOUNDATION (TPF) TO DETERMINE THE COMPENSATION FOR TPF PRESIDENT & CEO, PEDRO A. RAMOS. TPF USED THE FOLLOWING METHODS TO DETERMINE COMPENSATION FOR THE TPF PRESIDENT & CEO: - COMPENSATION COMMITTEE - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE THIS PROCESS OCCURS ANNUALLY, AND LAST OCCURRED IN 2023.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• THE LENFEST INSTITUTE FOR JOURNALISM LLC

  FOSTERS INNOVATION TO SUSTAIN INDEPENDENT JOURNALISM · PA · income $26,054,320 · assets $133,928,628

  Directly controlled by THE LENFEST INSTITUTE FOR JOURNALISM SPECIAL ASSET FUND OF TPF

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• THE PHILADELPHIA INQUIRER PBC

  C · NEWS MEDIA PRODUCTION · DE · 99.99% owned · share of income $96,645,031 · share of assets $74,005,096 · controlled entity

  Directly controlled by PMN PBC CHARITABLE TRUST