Athenaeum of Philadelphia

Analysis

Athenaeum of Philadelphia is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 1927, 99 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Athenaeum of Philadelphia reported income of $2.8m and spending of $1.6m, leaving 43% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.3m to $2.8m (-14%), an average of -3.7% a year. The sharpest change came in the year to June 2022, when income rose by 66%. Over the whole period it spent 48% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Athenaeum of Philadelphia sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Precious Hearts Academy ($2.8m), Whitefield Academy Association ($2.8m) and Wilmington School of the Arts ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $187k (11% of expenses). Other salaries and wages came to $377k. At year end it held assets of $27.8m against liabilities of $65k, net assets of $27.7m. It reported 15 employees.