Form 990 for tax year 2022

Filed by PHILADELPHIA SOCCER 2026.

What the amendment changed

Compared with the return it replaced , filed 24 April 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue: $3,359,755
Total expenses: $4,016,666
Contributions and grants received: $3,314,515
Grants paid: $26,250
Program service revenue: $0
Investment income: $45,240
Other revenue: $0
Total assets, end of year: $30,779,647
Total liabilities, end of year: $1,095,617
Net assets or fund balances, end of year: $29,684,030
Program services expenses (Part IX): $1,262,537
Management and general expenses: $2,404,129
Fundraising expenses: $350,000
Program service expenses (Part III): $1,262,537

Program services were 31.4% 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.

1e · Government grants (contributions)

$2,000,000
1f · All other contributions, gifts and grants

$1,314,515
3 · Investment income

total $45,240 · related or exempt $45,240

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $26,250 · program services $26,250
11b · Fees: legal

total $115,077 · management and general $115,077
11g · Fees: other

total $1,574,606 · program services $809,559 · management and general $430,965 · fundraising $334,082
12 · Advertising and promotion

total $86,539 · program services $82,447 · management and general $2,852 · fundraising $1,240
13 · Office expenses

total $9,414 · program services $1,800 · management and general $7,614
14 · Information technology

total $89,979 · program services $84,379 · management and general $5,600
16 · Occupancy

total $65,525 · program services $58,972 · management and general $6,553
17 · Travel

total $112,707 · program services $86,102 · management and general $11,927 · fundraising $14,678
22 · Depreciation, depletion and amortization

total $5,591 · program services $5,032 · management and general $559
23 · Insurance

total $43,372 · management and general $43,372
24a · Other expenses: BAD DEBT

total $1,775,000 · management and general $1,775,000
24b · Other expenses: VENUE RENTAL

total $58,956 · program services $58,956
24c · Other expenses: DONATIONS/SPONSORSHIPS

total $50,295 · program services $49,040 · management and general $1,255
24d · Other expenses: CATERING-FOOD & BEVERAGE

total $3,355 · management and general $3,355

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $727,128 · end of year $7,533,128
3 · Pledges and grants receivable

beginning of year $29,777,651 · end of year $22,339,666
9 · Prepaid expenses and deferred charges

beginning of year $26,940 · end of year $57,649
10a · Land, buildings and equipment: cost or other basis

$137,280
10b · Land, buildings and equipment: accumulated depreciation

$5,591
10c · Land, buildings and equipment, net

end of year $131,689
14 · Intangible assets

end of year $717,515
17 · Accounts payable and accrued expenses

beginning of year $190,778 · end of year $322,842
25 · Other liabilities

end of year $772,775
27 · Net assets without donor restrictions

beginning of year $6,703,290 · end of year $11,965,065
28 · Net assets with donor restrictions

beginning of year $23,637,651 · end of year $17,718,965

Mission and programs · 2022

Mission

PHILADELPHIA SOCCER 2026 (PS2026) IS AN INDEPENDENT, NONPROFIT ORGANIZATION CHARTERED IN 2020. PS2026 HAS BEEN DESIGNATED AS THE ORGANIZATION TO SUPERVISE AND IMPLEMENT PHILADELPHIAS BID TO HOST THE FIFA WORLD CUP (FIFA) MATCHES IN 2026. PS2026 HAS ENGAGED IN A CAMPAIGN TO DRIVE PUBLIC ENGAGEMENT, INCREASE BID AWARENESS, AND MANAGE REQUESTS FROM FIFA. PHILADELPHIA WILL HAVE AN IMPORTANT OPPORTUNITY TO PROMOTE HUMAN RIGHTS AND HAVE A SOCIAL IMPACT IN A SIGNIFICANT WAY IF SELECTED AS A HOST CITY FOR FIFA

PUBLIC AWARENESS & ENGAGEMENT PHILADELPHIA SOCCER 2026 IS RESPONSIBLE FOR DRIVING COMMUNITY ENTHUSIASM AND ENGAGEMENT AROUND THE CITY OF PHILADELPHIA'S DESIRE TO HOST SOCCER MATCHES DURING FIFA WORLD CUP 2026. ITS EFFORTS ARE MEANT TO ENSURE THAT RESIDENTS IN THE 5-COUNTY PHILADELPHIA AREA, SOUTHERN NEW JERSEY AND DELAWARE KNOW OF THIS EVENT'S POTENTIAL TO DRIVE POSITIVE ECONOMIC AND SOCIAL IMPACT ACROSS THE REGION.

Expenses $703,498 · Grants $26,250
BENEFACTOR AND PUBLIC BENEFITS PS2026 IS RESPONSIBLE FOR MONITORING AND EVALUATING PUBLIC AND PRIVATE BENEFITS AND REWARDS ASSOCIATED WITH HOSTING THE FIFA WORLD CUP 2026. THIS INCLUDES SUSTAINABILITY EFFORTS AND MAINTAINING MUTUALLY BENEFICIAL PARTNERSHIPS WITH ITS STAKEHOLDERS TO FURTHER THE MISSION AND OBJECTIVES OF PS2026.

Expenses $383,199
BID EFFORTS AND HOST ACTIVITIES A CENTRAL COMPONENT TO THE BIDDING AND HOSTING PROCESS FOR FIFA WORLD CUP 2026 IS RESPONDING TO FIFAS IN-DEPTH INQUIRIES REGARDING THE CITY OF PHILADELPHIAS HOST CITY CAPABILITIES, WHICH INCLUDE THE MATCH PLAY VENUE, TRAINING SITES, TRANSPORTATION, ACCOMMODATIONS, HUMAN RIGHTS AND MORE. PS2026 IS RESPONSIBLE FOR THE COORDINATION, PREPARATION, AND SUBMISSION OF PHILADELPHIAS OFFICIAL RESPONSES, AS WELL AS EXECUTING ON FIFA HOST CITY REQUIREMENTS

Expenses $175,840
OTHER WITH PHILADELPHIA'S SELECTION AS A FIFA WORLD CUP HOST CITY IN JUNE 2022, THE WORK OF PHILADELPHIA SOCCER 2026 SHIFTED TO OPERATIONALIZING THE ORGANIZATION IN ITS SHIFT FROM BIDDING TO HOSTING DUTIES. MANAGEMENT AND GENERAL REFLECTS THE WORK ASSOCIATED WITH SECURING ADDITIONAL INSURANCE, BUILDING OUT STAFF/OFFICE, IDENTIFYING ROLES AND RESPONSIBILITIES, FULFILLING FIDUCIARY OBLIGATIONS, BUDGET FORECASTING, INTERFACING WITH THE CITY OF PHILADELPHIA, PHILADELPHIA EAGLES, AS WELL AS OTHER KEY PARTNERS, AND CONTINUING TO FULFILL REQUESTS FOR INFORMATION FROM FIFA. FUNDRAISING TO SUPPORT THE WORK OF PHILADELPHIA SOCCER 2026 IN PLANNING AND EXECUTING, TO SUCCESSFUL DELIVERY OF FIFA WORLD CUP MATCHES IN 2026, THE ORGANIZATION HAS DEVELOPED A ROBUST AND COMPREHENSIVE FUNDRAISING PROGRAM, WHICH IS STAFFED AND UNDERWAY. THE GOAL IS TO RAISE PRIVATE FUNDS FROM THE REGIONAL BUSINESS COMMUNITY TO SUPPORT THIS INTERNATIONAL SPORTING EVENT AND HELP DEFRAY THE COSTS INCURRED BY PUBLIC ENTITIES. THIS WORK INCLUDES CULTIVATION, ENGAGEMENT, COMMUNICATION, AND ONGOING STEWARDSHIP OF THOSE MAKING COMMITMENTS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

BOARD OF DIRECTORS-SEE LIST ATTACHE

BOARD MEMBER

Total calculated

$0

Hours/week

3
DANIEL J HILFERTY

BOARD CHAIR

Total calculated

$0

Hours/week

5
ALAN KRIGSTEIN

CFO

Total calculated

$0

Hours/week

40

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.

Grants on this return

THE MAYOR'S FUND FOR PHILADELPHIA

$26,250

'22 UNITY CUP SPONSO

Provenance

Return type: form_990
Tax year: 2022
Filed: 23 August 2024
IRS schema version: 2022v5.0
Source object: 202402539349300765

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