2012 Financial Highights The Philadelphia Foundation Consolidated Statements of Financial Position ASSETS
Cash and Cash Equivalents
2012 $16,416,679
2011 $18,679,080
Contributions Receivable Prepaid Expenses and Other Assets Total Non-Endowment Investments Equities
23,399,108
23,643,919
105,852
69,090
$39,921,639
$42,392,089
6,527,673
8,970,725
Fixed Income Other
9,665,715 20,492,560
6,678,177 11,856,000
Cash and Cash Equivalents
99,000
99,000
$36,784,948
$27,603,902
126,975,401
116,837,551
69,472,401
66,211,871
Total Non-Endowment Investments Endowment Investments Equities Fixed Income
Cash Surrender Value of Life Insurance
452,453
Cash Equivalents Other
Total Endowment Investments Split-Interest Agreements
Property and Equipment
Total Assets
INVESTMENT MANAGERS Aberdeen Fund Managers Limited Access Capital Strategies Addison Clark Management, LLC American Funds Armstrong Shaw Artisan Partners, LP Canyon Capital Advisors, LLC Colchester Global Investors Dimensional Fund Advisors, LP
453,841
26,304,195
14,059,400
28,254,588
32,292,628
$251,459,038
$229,855,291
6,241,424
5,292,691
44,692
56,361
$334,451,741
$305,200,334
LIABILITIES AND NET ASSETS
2012
2011
$2,856,460
$626,291
1,049,163
1,161,304
Liabilities Under Split-Interest Agreements
1,985,960
1,770,840
Liabilities Under Agency Accounts
6,960,642
5,860,743
210,871
241,429
$13,063,096
$9,660,607
236,149,798
216,588,260
27,002,098
31,519,970
4,860,683
4,438,829
$268,012,579
$252,547,059
52,697,813
42,385,538
678,253
607,130
321,388,645
295,539,727
$334,451,741
$305,200,334
LIABILITIES
Accounts Payable and Accrued Liabilities Grants Payable
Deferred Rent
Total 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
The endowment assets of TPF, Inc., are managed by: Eagle Capital Management, LLC Focused Investors, LLC Forester Partners, LP Gryphon International Investment Corp. Hoplite Capital Management, LLC Lansdowne Partners Limited Metropolitan Real Estate Equity Mgmt., LLC Perennial Capital Management, LLC Philadelphia International Advisors PIMCO
Post Advisory Group Sanderson Asset Management, Inc. Tiger Consumer Management, LLC Van Eck Global Watershed Asset Management, LLC William Blair & Co. 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
2012 Financial Highights The Philadelphia Foundation Consolidated Statements of Financial Activities Total for Year Ended Dec 31, 2012
REVENUE AND SUPPORT Gifts, Grants and Bequests Investment Income
$23,349,324
11,980,236
Net Unrealized and Realized Investment Gains, Net
23,732,054
Subtotal $59,061,614
EXPENSES Grants
$24,679,393
Investment Management and Trustee Fees
916,291
Grantmaking
757,157
Special Program Expenses
Development and Donor Services Fund Management
1,898,622
1,150,623
1,046,156
Marketing Total Expenses
CHANGE IN NET ASSETS BEFORE INCOME TAXES
364,454 $30,812,696
$28,248,918
Unrelated Business Income Tax Expense CHANGE IN ASSETS Net Assets - Beginning of Year
NET ASSETS - END OF YEAR
2,400,000 25,848,918 295,539,727 $321,388,645
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
The Bryn Mawr Trust Company The Glenmede Trust Company BNY Mellon Pitcairn Trust Company PNC Bank, N.A. 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