2011 Financial Highights The Philadelphia Foundation Consolidated Statements of Financial Position ASSETS
Cash and Cash Equivalents
2011
Contributions Receivable Prepaid Expenses and Other Assets Total
2010
$18,679,080
$17, 094,037
23,643,919
24,116,418
69,090
51.782
$42,392,089
$41,262,237
Non-Endowment Investments Equities
8,970,725
8,270,847
Fixed Income
6,678,117
6,340,435
Other
11,856,000
Cash and Cash Equivalents
99,000
99,000
27,603,902
14,710,282
Total Non-Endowment Investments Endowment Investments Equities
116,837,551
123,519,871
66,211,871
67,571,405
Cash Surrender Value of Life Insurance
453,841
Fixed Income
445,389
Temporary Investments
14,059,400
Other
32,292,628
37,829,887
229,855,291
237,989,248
5,292,691
4,821,528
56,362
68,030
305,200,334
$298,851,335
Total Endowment Investments Split-Interest Agreements
Property and Equipment Total Assets
8,622,696
LIABILITIES AND NET ASSETS
2011
2010
Accounts Payable and Accrued Liabilities
$626,291
$803,542
Grants Payable
1,161,304
1,578,927
Liabilities Under Split-Interest Agreements
1,770,840
1,577,026
Liabilities Under Agency Accounts
5,860,743
5,907,410
Deferred Rent
241,429
268,098
Total Liabilities
9,660,607
10,135,003
216,588,260
224,816,024
LIABILITIES
NET ASSETS Unrestricted For Grant Endowments For Grantmaking
For Administrative Endowment and Operations Total Unrestricted Temporarily Restricted Permanently Restricted
Total Net Assets Total Liabilities and Net Assets
31,519,970
28,275,069
4,438,829
3,918,634
252,547,059
257,009,727
42,385,538
31,019,810
607,130
686,795
295,539,727
288,716,332
$305,200,334
$298,851,335
INVESTMENT MANAGERS The endowment assets of TPF, Inc., are managed by: Eagle Capital Management, LLC Access Capital Strategies Forester Partners, LP American Funds Gryphon International Investment Corp. Armstrong Shaw Merrill Lynch William Blair & Co. Metropolitan Real Estate Equity Mgmt., LLC City of London Investment Mgmt. Perennial Capital Management, LLC Colchester Global Investors
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
2011 Financial Highights The Philadelphia Foundation Consolidated Statements of Financial Activities Total for Year Ended Dec 31, 2011
REVENUE AND SUPPORT Gifts, Grants and Bequests
$32,267,135
7,903,158
Investments, Net Losses
(11,119,447)
Investment Income
Total Revenue and Support
29,050,846
EXPENSES Grants
16,585,332
Investment Management and Trustee Fees
954,568
Grantmaking
647,369
Special Program Expenses
Development and Donor Services Financial Management
1,581,910
1,151,355
994,152
Marketing Total Expenses CHANGE IN NET ASSETS Net Assets - Beginning of Year
312,775 22,227,451 6,823,395 288,716,332
NET ASSETS - END OF YEAR $295,539,727
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 BNY Mellon Pitcairn Trust Company PNC Bank, N.A. Wachovia/Wells Fargo 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