The Merchants Fund of Philadelphia

Analysis

The Merchants Fund of Philadelphia is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in September 2022, 4 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 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 December 2023, The Merchants Fund of Philadelphia reported income of $1.6m and spending of $1.8m, spending 109% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.4m to $1.6m (+15%), an average of +7.3% a year. The sharpest change came in the year to December 2023, when income rose by 202%. Over the whole period it spent 111% 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 Merchants Fund 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 84th percentile, and in the 83rd percentile within PA. Charities of a similar size with the same main cause include Society for Orphaned Armenian Relief ($1.6m), Christodora Inc ($1.6m) and Jasper Newton Foundation Inc Jasper Foundation Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Compensation of current officers, directors and key employees was $165k (9.3% of expenses). Other salaries and wages came to $80k. At year end it held assets of $16.2m against liabilities of $894, net assets of $16.2m. It reported 2 employees.