2009 Financial Highights The Philadelphia Foundation Consolidated Statements of Financial Position ASSETS
Cash and Cash Equivalents
2009
$19,417,547
Contributions Receivable Prepaid Expenses and Other Assets Total
24,516,266
$20,815,445 26,233,813
51.283
33,905
$43,985,096
47,083,163
Non-Endowment Investments Equities
7,346,506
5,809,523
5,616,007
5,530,002
105,140
102,025
13,067,653
11,441,550
Fixed Income Cash and Cash Equivalents Total Non-Endowment Investments
2008
LIABILITIES AND NET ASSETS
2009
2008
Accounts Payable and Accrued Liabilities
$993,572
$1,613,555
Grants Payable
1,473,482
1,238,141
Liabilities Under Split-Interest Agreements
1,515,628
1,529,733
Liabilities Under Agency Accounts
4,939,500
3,824,716
285,017
297,909
9,207,199
8,504,054
206,949,730
172,639,691
26,843,406
27,490,413
For Administrative Endowment and Operations
4,255,750
4,089,556
LIABILITIES
Deferred Rent Total Liabilities
NET ASSETS
Endowment Investments Equities
123,487,223
97,460,984
Unrestricted For Grant Endowments
Fixed Income
68,284,231
59,413,432
For Grantmaking
441,296
431,215
Cash Surrender Value of Life Insurance
Temporary Investments
6,685,953
3,965,531
Total Unrestricted
238,048,886
204,219,660
Other
18,907,353
22,015,898
Temporarily Restricted
31,256,452
32,231,112
217,806,056
183,287,060
945,899
839,458
4,577,330
3,982,432
270,251.237
237,290,230
22,301
79
Total Endowment Investments Split-Interest Agreements
Property and Equipment Total Assets
$279,458,436
$245,794,284
Permanently Restricted
Total Net Assets Total Liabilities and Net Assets
$279,458,436
$245,794,284
INVESTMENT MANAGERS The endowment assets of TPF, Inc., are managed by: Access Capital Strategies American Funds Armstrong Shaw William Blair & Co. City of London Investment Mgmt. Colchester Global Investors
Eagle Capital Management, LLC Forester Partners, LP Gryphon International Investment Corp. Merrill Lynch Metropolitan Real Estate Equity Mgmt., LLC Perennial Capital Management, LLC
Philadelphia International Advisors PIMCO Post Advisory Group The Investment Fund for Foundations (TIFF) Turner Investment Partners, Inc. The Vanguard Group
1234 Market Street I Suite 1800 I Philadelphia, PA 19107 I www.philafound.org I 215 563 6417
2009 Financial Highights The Philadelphia Foundation Consolidated Statements of Financial Activities
REVENUE AND SUPPORT Gifts, Grants and Bequests
Total for Year Ended Dec 31, 2009
$8,705,384
5,989,486
Gain on Investments, Net
40,487,485
Investment Income
Total Revenue and Support 55,182,355
EXPENSES Grants
16,390,796
Investment Management and Trustee Fees
601,300
Grantmaking
629,721
Special Program Expenses
Development and Donor Services
2,078,263
1,232,212
1,078,283
Marketing Total Expenses
210,773
Financial Management
22,221,348
CHANGE IN NET ASSETS Net Assets - Beginning of Year
237,290,230
NET ASSETS - END OF YEAR
$270,251,237
32,961,007
TRUSTEE INSTITUTIONS
INSTITUTIONAL PARTNERSHIPS
In establishing a fund, donors have the option of using TPF, Inc. as a trustee or one of seven trustee institutions:
American Funds Brown Brothers Harriman Merrill Lynch Community Charitable Fund
The Bryn Mawr Trust Company The Glenmede Trust Company Mellon PSFS, N.A. Pitcairn Trust Company PNC Bank, N.A. Wachovia Bank, N.A. Wilmington Trust of Pennsylvania
INDEPENDENT INVESTMENT CONSULTANT Colonial Consulting
The official registration and financial information of The Philadelphia Foundation may be obtained from the Pennsylvania Department of State by calling toll-free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement. Information filed with the Attorney General concerning this charitable solicitation may be obtained from the Attorney General of the State of New Jersey by calling 973-504-6215. Registration with the Attorney General does not imply endorsement. This report presents only the highlights of our financial activities. The Foundation’s complete audited financial statements are available online at www. philafound.org. Select “About the Foundation” and then “Investment Management and Fund Information.” A public inspection copy of our Forms 990 and 990-T may be obtained during regular business hours.
1234 Market Street I Suite 1800 I Philadelphia, PA 19107 I www.philafound.org I 215 563 6417