THE LENFEST INSTITUTE FOR JOURNALISM SPECIAL ASSET FUND OF TPF

EIN: 043731829 501(c)(3) Philanthropy & Grantmaking

PHILADELPHIA, PA

Total Revenue
$31,951,841
Total Expenses
$21,808,175
Total Assets
$124,527,937
Net Assets
$120,739,838
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
PA
Principal Officer
PEDRO A RAMOS
Phone
2155636417
Tax Period
2023-01-01 to 2023-12-31

THE LENFEST INSTITUTE FOR JOURNALISM SPECIAL ASSET FUND OF TPF, founded in 2002, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $32.0M in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $10.1M, a strong 32% operating margin.

Mission

SUPPORT THE PHILADELPHIA FOUNDATION BY ENABLING QUALITY LOCAL JOURNALISM IN ITS COMMUNITIES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $29,834,389
Program Service Revenue $0
Investment Income $2,059,008
Other Revenue $58,444
TOTAL REVENUE $31,951,841

Expense Breakdown

Grants Paid $13,810,448
Salaries & Benefits $3,308,792
Fundraising Expenses $1,408,938
Program Expenses $19,195,824
Other Expenses $4,688,935
TOTAL EXPENSES $21,808,175

Year-over-Year Comparison

2023 2022 Change
Revenue $31,951,841 $41,516,736 -0.2%
Expenses $21,808,175 $21,565,100 +0.0%
Net Income $10,143,666 $19,951,636 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
33
Independent Members
31
Employees
17
Volunteers
33

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
10
$1,825,929
Total Directors
33
$1,063,623
Key Employees
1
$368,804
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES FRIEDLICH CHIEF EXECUTIVE OFFICER - LLC 37.00
Officer Director
$496,259 $76,555 $572,814
PEDRO A RAMOS SECRETARY, PRESIDENT & CEO 1.20
Officer Director
$0 $66,225 $490,809
ANNIE MADONIA CHIEF ADVANCEMENT OFFICER - LLC 37.00
Key Emp
$304,349 $64,455 $368,804
KEN HERTS CHIEF OPERATING OFFICER - LLC 37.00
Officer
$303,716 $32,951 $336,667
ORLANDO ESPOSITO TPF CHIEF FINANCIAL OFFICER 1.00
Officer
$0 $51,544 $251,702
REBECCA FORMAN HEAD OF DEVEL & DONOR RELATIONS-LLC 35.00
Highest
$181,609 $24,961 $206,570
SHAWN MOORING HEAD OF PHILADELPHIA PROGRAMS - LLC 35.00
Highest
$167,889 $27,541 $195,430
AMY KOVAC-ASHLEY HEAD OF NATIONAL PROGRAMS - LLC 35.00
Highest
$183,065 $10,106 $193,171
KAREN CLEARY CHIEF FINANCIAL OFFICER - LLC 28.00
Officer
$141,582 $32,355 $173,937
JOSEPH LICHTERMAN HEAD OF EDITORIAL AND COMMS - LLC 35.00
Highest
$133,563 $14,387 $147,950
DIANA LU DIR LOCAL NEWS TRANSFORMATION FD-LLC 35.00
Highest
$122,549 $18,923 $141,472
LON GREENBERG CHAIR JUL 2023, VICE CHAIR 1.00
Officer Director
$0 $0 $0
WILLIAM J BURKE TREASURER 1.00
Officer Director
$0 $0 $0
KATE ALLISON CHAIR TO JUN 2023, BRD MBR 1.00
Officer Director
$0 $0 $0
ROSALIND REMER CHAIR - LLC 1.00
Officer Director
$0 $0 $0
MICHAEL X DELLI CARPINI PHD VICE CHAIR - LLC 1.00
Officer Director
$0 $0 $0
STEVEN SCOTT BRADLEY BOARD MEMBER 1.00
Director
$0 $0 $0
FERNANDO CHANG-MUY BOARD MEMBER 1.00
Director
$0 $0 $0
HOLLY FLANAGAN BOARD MEMBER 1.00
Director
$0 $0 $0
CHRISTINA MESIRES FOURNARIS BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM P HANKOWSKY BOARD MEMBER 1.00
Director
$0 $0 $0
DIXIEANNE JAMES BOARD MEMBER 1.00
Director
$0 $0 $0
SHIRIN KARSAN BOARD MEMBER 1.00
Director
$0 $0 $0
EVELYN MCNIFF BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL K PEARSON BOARD MEMBER 1.00
Director
$0 $0 $0
R DUANE PERRY BOARD MEMBER 1.00
Director
$0 $0 $0
WENDELL PRITCHETT BOARD MEMBER 1.00
Director
$0 $0 $0
ANDREW ROGOFF BOARD MEMBER 1.00
Director
$0 $0 $0
JANE SCACCETTI BOARD MEMBER 1.00
Director
$0 $0 $0
EVAN URBANIA BOARD MEMBER AS OF MAY 2023 1.00
Director
$0 $0 $0
ELLEN SINIS BADGER MANAGER - LLC 1.00
Director
$0 $0 $0
DAVID BOARDMAN MANAGER - LLC 1.00
Director
$0 $0 $0
DAVID HAAS MANAGER - LLC 1.00
Director
$0 $0 $0
TONY HAILE MANAGER - LLC 1.00
Director
$0 $0 $0
ERRIN HAINES MANAGER - LLC 1.00
Director
$0 $0 $0
KEITH LEAPHART MANAGER - LLC 1.00
Director
$0 $0 $0
SHELTON MERCER III MANAGER - LLC 1.00
Director
$0 $0 $0
MARTIN NISENHOLTZ MANAGER - LLC 1.00
Director
$0 $0 $0
HONG QU MANAGER - LLC 1.00
Director
$0 $0 $0
SULAIMAN RAHMAN MANAGER - LLC 1.00
Director
$0 $0 $0
VIJAY RAVINDRAN MANAGER - LLC 1.00
Director
$0 $0 $0
ROY ROSIN MANAGER - LLC 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $31,951,841 $21,808,175 $124,527,937 $10,143,666
2022 $41,516,736 $21,565,100 $107,280,135 $19,951,636
2021 $14,397,650 $16,429,153 $99,634,192 $-2,031,503
2020 $21,750,954 $30,909,697 $97,432,232 $-9,158,743
2019 $25,125,953 $28,688,218 $105,118,770 $-3,562,265
2018 $51,599,715 $9,759,033 $100,598,800 $41,840,682
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