Form 990 for tax year 2022

Totals

Total revenue

$3,343,180

Total expenses

$2,725,896

Contributions and grants received

$3,252,996

Grants paid

$90,000

Program service revenue

$0

Investment income

$24,922

Other revenue

$65,262

Total assets, end of year

$1,899,042

Total liabilities, end of year

$0

Net assets or fund balances, end of year

$1,899,042

Program services expenses (Part IX)

$2,498,701

Management and general expenses

$20,722

Fundraising expenses

$206,473

Program service expenses (Part III)

$2,498,701

Program services were 91.7% 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.

Mission and programs · 2022

• ECONOMIC DEVELOPMENT : THE PHLCVB FOUNDATION PARTNERED WITH THE CITY OF PHILADELPHIA, THE COMMONWEALTH OF PENNSYLVANIA, AND MANY OTHER HOSPITALITY ORGANIZATIONS TO PROMOTE PHILADELPHIA AS A DYNAMIC TRAVEL DESTINATION AND LOCATION FOR LARGE EVENTS. THE FOUNDATION SUPPORTS THE REGIONAL EFFORTS THAT LEAD TO PHILADELPHIA HOSTING PREMIER EVENTS, SUCH AS THE CITY'S SUCCESSFUL BID TO HOST FIFA WORLD CUP 2026 . PHILADELPHIA WAS ONE OF 17 U.S. CITIES VYING FOR AN OPPORTUNITY TO HOST ONE OF THE WORLD'S BIGGEST SPORTING EVENTS, A PROCESS THAT BEGAN IN 2017. LEADING THE EFFORT WAS PHILADELPHIA SOCCER 2026, THE CITY OF PHILADELPHIA'S OFFICIAL FIFA WORLD CUP 2026 BID COMMITTEE, WHICH INCLUDED DOZENS OF PARTNERS FROM ACROSS THE SPORTS, BUSINESS, AND HOSPITALITY COMMUNITIES. PHILADELPHIA WAS OFFICIALLY SELECTED AS A HOST CITY IN JUNE 2022.

  Expenses $2,379,366

• COMMUNITY IMPROVEMENT AND OUTREACH: THE FOUNDATION SUPPORTS PROJECTS SUCH AS PHL CARES, A HIGH-IMPACT, BUSINESS-LED RESPONSE TO PHILADELPHIA'S CHRONIC STREET HOMELESSNESS PROBLEM MOBILIZING RESOURCES AND LEADERSHIP FOR REAL SOLUTIONS - HOUSING, JOBS AND SERVICES - TO END HOMELESSNESS. THE FOUNDATION SUPPORTED THE DESIGN OF PHLCARES.COM AND PROMOTIONAL ASSETS. IT ALSO SUPPORTS KEY INITIATIVES TO IMPROVE THE QUALITY OF LIFE IN PHILADELPHIA AND TO BEAUTIFY AND ENHANCE HIGH PROFILE PUBLIC SPACES. ITS GOAL IS TO ENSURE THAT PARKS, HISTORICAL SITES, MONUMENTS, AND BUILDINGS - PARTICULARLY THOSE LOCATED IN THE CITY'S HISTORIC, CULTURAL, AND CONVENTION CORRIDORS - REMAIN WELL MAINTAINED AND WELCOMING TO THE PUBLIC.

  Expenses $89,335 · Grants $80,000

• HOSPITALITY INDUSTRY SUPPORT: THE FOUNDATION SUPPORTS PROGRAMS THAT HIGHLIGHT AND SUPPORT THE REGION'S DYNAMIC HOSPITALITY SECTOR. IT SUPPORTS EVENTS THAT SHOWCASE AND CELEBRATE THE WORK OF EVERYONE EMPLOYED IN THE REGION'S HOSPITALITY INDUSTRY. BY HIGHLIGHTING EXISTING EMPLOYEES AND THEIR ACCOMPLISHMENTS, THE FOUNDATION HELPS DEVELOP A ROBUST WORKFORCE FOR THE REGIONAL HOSPITALITY INDUSTRY. THE FOUNDATION ALSO SUPPORTS TOURISM DIVERSITY MATTERS, THE COLLABORATIVE LEADER OF DIVERSITY, EQUITY AND INCLUSION (DEI) INITIATIVES AND CONCEPTS IN THE TOURISM INDUSTRY.

  Expenses $20,000

• HOSPITALITY EDUCATION: THE FOUNDATION SUPPORTS PROJECTS THAT TRAIN AND EDUCATE INDIVIDUALS FOR CAREERS IN THE HOSPITALITY SECTOR. IT PROVIDES FOR AN ANNUAL SCHOLARSHIP (MARIE BAKER BROWN SCHOLARSHIP) FOR HOSPITALITY STUDENTS ENROLLED AT LOCAL UNIVERSITIES. IT PRODUCES PROGRAMMING DESIGNED TO PROVIDE GUIDANCE TO HIGH SCHOOL AND COLLEGE STUDENTS INTERESTED IN CAREERS IN THE HOSPITALITY FIELD. THIS PROGRAM STRIVES TO ENSURE THAT PHILADELPHIA'S DIVERSE COMMUNITIES HAVE THE OPPORTUNITY TO PARTICIPATE IN AND BENEFIT FROM THE ECONOMIC BENEFITS DRIVEN BY THE TOURISM INDUSTRY.

  Expenses $10,000 · Grants $10,000

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

Listed in Part VII

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

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

• OPERATION GRATITUDE

  $50,000

  2000 CARE PACKAGES

• PHILADELPHIA INDEPEND VISITORS CNTR

  $20,000

  INSTALL ROCKY OUTPOS

• FC PA STADIUM LLC (SPECTRA)

  $10,000

  A/N CUP XI SPONSORSH

• TEMPLE UNIVERSITY

  $10,000

  SCHOLARSHIP CONTRIBU

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• PHILA CONVENTION & VISITORS BUREAU

  501C · TOURISM · PA · controlled entity

  Directly controlled by PC&VB

Provenance

Return type

form_990

Tax year

2022

Filed

17 April 2024

IRS schema version

2022v5.0

Source object

202431109349301738

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