Philadelphia Accelerator Fund

Analysis

Philadelphia Accelerator Fund is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 2023, 3 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Philadelphia Accelerator Fund reported income of $399k and spending of $409k, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $55k to $399k (+629%), an average of +170% a year. The sharpest change came in the year to December 2023, when income rose by 784%. Over the whole period it spent 162% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Philadelphia Accelerator Fund sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within PA. Charities of a similar size with the same main cause include Oakwood Arts Inc ($399k), Watershed Human and Community Development Agency Inc ($399k) and St Bernard Economic Development Foundation ($399k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 21% of the total. Compensation of current officers, directors and key employees was $130k (32% of expenses). At year end it held assets of $14.2m against liabilities of $12.5m, net assets of $1.6m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.