INDEPENDENCE HISTORICAL TRUST

EIN: 237179598 501(c)(3)

PHILADELPHIA, PA

Total Revenue
$1,883,280
Total Expenses
$1,667,487
Total Assets
$5,767,042
Net Assets
$5,730,418
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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
PA
Principal Officer
THOMAS CARAMANICO
Phone
2158614971
Tax Period
2023-01-01 to 2023-12-31

INDEPENDENCE HISTORICAL TRUST, founded in 1972, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.7M left a modest 11% surplus.

Mission

TO RAISE FUNDS TO FULFILL THE MISSION OF INDEPENDENCE NATIONAL HISTORICAL PARK AND PROMOTES ITS HISTORICAL,SCIENTIFIC, EDUCATIONAL AND INTERPRETIVE ACTIVITIES.

Program Service Accomplishments

Program 1
Expenses: $891,783 Revenue: $96,095

IN 2023, THE ORGANIZATION CLOSED OUT OUR 50TH ANNIVERSARY YEAR AND SUPPORTED INDEPENDENCE NATIONAL HISTORICAL PARK IN CELEBRATING THEIR 75TH ANNIVERSARY. DURING THAT YEAR, THE TRUST ACCOMPLISHED THE...

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IN 2023, THE ORGANIZATION CLOSED OUT OUR 50TH ANNIVERSARY YEAR AND SUPPORTED INDEPENDENCE NATIONAL HISTORICAL PARK IN CELEBRATING THEIR 75TH ANNIVERSARY. DURING THAT YEAR, THE TRUST ACCOMPLISHED THE FOLLOWING PROGRAMMATIC ACTIVITIES: 1.) FUNDRAISING: COMPLETED A MULTI-YEAR DESIGN PHASE FOR EXHIBITS AT THE FIRST BANK OF THE UNITED STATES THAT WILL INTERPRET THE FIVE PILLARS OF THE EARLY ECONOMY OF OUR NATION FROM THE POINT OF VIEW OF THE CITIZENS. THE EXHIBITS ARE NOW READY TO GO TO FABRICATION ONCE FUNDS HAVE BEEN RAISED. THIS YEAR, THE TRUST BROKE GROUND ON TWO CONSTRUCTION PROJECTS, THE REHABILITATION OF THE FIRST BANK OF THE UNITED STATES AND THE BICENTENNIAL BELL AT THE BENJAMIN RUSH GARDEN. IN PARTNERSHIP WITH THE NATIONAL PARK SERVICE, THE PROJECTS WILL BE COMPLETED IN TIME FOR THE 250TH ANNIVERSARY OF OUR NATION IN 2026. 2.) COMMUNITY OUTREACH: WITH A GOAL TO INCREASE AWARENESS OF THE ORGANIZATION, THE PROGRAMS REACHED OVER 2,000 PEOPLE IN THE COMMUNITY AND WERE OFFERED TO ALL AGE GROUPS AND EVEN SOME DOGS. OVER THE SUMMER OF 2023, THE TRUST, ALONG WITH INDEPENDENCE NATIONAL HISTORICAL PARK WELCOMED 40 DOGS INTO THE COUNTRY-WIDE BARK RANGER PROGRAM WHICH HELPS DOG OWNERS, AND THEIR PETS CONNECT TO THEIR NATIONAL PARK. 3.) EDUCATION: SUPPORTING THE NATIONAL PARK SERVICE'S MISSION TO EDUCATE, THE TRUST SUPPORTED MULTIPLE IN-PERSON AND VIRTUAL PROGRAMS FOR STUDENTS IN 2023. 60 SCHOOLS WITH OVER 4,000 STUDENTS ATTENDED THE EDUCATION PROGRAMS INCLUDE A DAY CALLED HISTORYFEST WHICH BROUGHT TOGETHER MULTIPLE PARTNERS IN THE SOCIAL STUDIES FIELD AND LOCAL STUDENTS FOR A DAY OF LEARNING AND FUN IN THE NATIONAL PARK. 4.) TWILIGHT TOURS: THE TRUST OFFERED FREE, EVENING WALKING TOURS ON THE HISTORY OF THE NATIONAL PARK. OVER 1,500 ATTENDANTS FROM 43 DIFFERENT STATES AND 33 FOREIGN COUNTRIES ATTENDED THE PROGRAM.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,776,997
Program Service Revenue $96,095
Investment Income $40,426
Other Revenue $-30,238
TOTAL REVENUE $1,883,280

Expense Breakdown

Grants Paid $0
Salaries & Benefits $255,769
Fundraising Expenses $219,372
Program Expenses $891,783
Other Expenses $1,336,631
TOTAL EXPENSES $1,667,487

Year-over-Year Comparison

2023 2022 Change
Revenue $1,883,280 $1,722,245 +0.1%
Expenses $1,667,487 $1,691,933 0.0%
Net Income $215,793 $30,312 +6.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
N/A
Volunteers
54

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
5
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS CARAMANICO EXECUTIVE DI 20.00
Officer Director
$0 $0 $0
WILLIAM MARRAZZO CHAIRMAN 10.00
Officer Director
$0 $0 $0
LEE JAMES WOOLLEY VICE CHAIR 5.00
Officer Director
$0 $0 $0
KAREN KAUFMAN TREASURER 5.00
Officer Director
$0 $0 $0
THOMAS G SPENCER SECRETARY 5.00
Officer Director
$0 $0 $0
FLORA L BECKER BOARD MEMBER 5.00
Director
$0 $0 $0
EDWARD D'ALBA BOARD MEMBER 5.00
Director
$0 $0 $0
THOMAS G MORR BOARD MEMBER 5.00
Director
$0 $0 $0
JON C SIRLIN BOARD MEMBER 5.00
Director
$0 $0 $0
ALAN MANDELOFF BOARD MEMBER 5.00
Director
$0 $0 $0
ADRIAN MANTINI BOARD MEMBER 5.00
Director
$0 $0 $0
OLIVER ST CLAIR FRANKLIN BOARD MEMBER 5.00
Director
$0 $0 $0
ROSALIND REMER BOARD MEMBER 5.00
Director
$0 $0 $0
BERNARD T SHIELDS BOARD MEMBER 5.00
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 $1,883,280 $1,667,487 $5,767,042 $215,793
2022 $1,722,245 $1,691,933 $5,313,562 $30,312
2021 $1,973,857 $1,419,473 $5,798,816 $554,384
2020 $319,999 $1,521,058 $4,962,534 $-1,201,059
2019 $2,329,499 $910,109 $5,978,844 $1,419,390
2019 $2,103,908 $694,961 $5,978,844 $1,408,947
2018 $2,280,060 $402,088 $4,461,478 $1,877,972
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