Philadelphia Visitor Center Corporation

Analysis

Philadelphia Visitor Center Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Philadelphia Visitor Center Corporation reported income of $7.3m and spending of $7.3m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.1m to $7.3m (-9.5%), an average of -2.5% a year. The sharpest change came in the year to June 2022, when income rose by 115%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Philadelphia Visitor Center Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within PA. Charities of a similar size with the same main cause include Strive Northwest ($7.3m), Goleta Valley Professional Buildings Inc ($7.3m) and Oic of South Florida Inc ($7.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $365k (5.0% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $8.6m against liabilities of $3.6m, net assets of $4.9m. It reported 51 employees.