The Lenfest Inst for Journalism Spe Asset Fund of the PHL Foundation

Analysis

The Lenfest Inst for Journalism Spe Asset Fund of the PHL Foundation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Lenfest Inst for Journalism Spe Asset Fund of the PHL Foundation reported income of $32.0m and spending of $21.8m, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $25.1m to $32.0m (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2022, when income rose by 188%. Over the whole period it spent 89% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Lenfest Inst for Journalism Spe Asset Fund of the PHL Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Central Carolina Community Foundation ($31.8m), The Community Foundation of Western North Carolina Inc ($32.0m) and Tournaments for Charity ($31.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $1.6m (7.1% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $124.5m against liabilities of $3.8m, net assets of $120.7m. It reported 17 employees.