PHILADELPHIA CONVENTION AND VISITO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

GREGG CAREN

Phone

2158648324

Tax Period

2024-07-01 to 2025-06-30

PHILADELPHIA CONVENTION AND VISITORS BUREAU FOUNDATION, founded in 2002, is a small nonprofit in the Recreation & Sports sector that reported $278K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $260K left a modest 7% surplus.

Mission

MISSION/PURPOSE: THE PHILADELPHIA CONVENTION AND VISITORS BUREAU FOUNDATION ("FOUNDATION") WAS ESTABLISHED IN 2002 TO CONDUCT PUBLIC, CHARITABLE, AND EDUCATIONAL ACTIVITIES AND TO ATTRACT ADDITIONAL SUPPORT FOR THOSE ACTIVITIES FROM FOUNDATIONS AND THE GENERAL PUBLIC. THE FOUNDATION HAS A 501(C)(3) TAX-EXEMPT STATUS BECAUSE ITS ACTIVITIES ARE CHARITABLE AND EDUCATIONAL. THE MISSION OF THE FOUNDATION, IN COOPERATION WITH THE CITY OF PHILADELPHIA AND THE COMMONWEALTH OF PENNSYLVANIA, IS TO PROVIDE FUNDING IN SUPPORT OF ACTIVITIES THAT PROMOTE, BEAUTIFY, AND CELEBRATE PHILADELPHIA IN AN EFFORT TO STIMULATE THE CITY'S TOURISM INDUSTRY. TOGETHER WITH ITS PARTNERS, THE FOUNDATION SUPPORTS PROJECTS THAT MAKE THE CITY MORE INVITING TO VISITORS, ESPECIALLY THOSE ATTENDING A CONVENTION OR SPECIAL EVENT, OR VISITORS TRAVELING FROM ANOTHER COUNTRY. IN ADDITION, THE FOUNDATION HELPS PHILADELPHIANS PREPARE THEMSELVES FOR CAREERS IN THE REGION'S DYNAMIC HOSPITALITY INDUSTRY, AND ASSISTS CORPORATE VIS

Program Service Accomplishments

Program 1

Expenses: $15,000

HOSPITALITY EDUCATION: THE FOUNDATION SUPPORTS PROJECTS THAT TRAIN AND EDUCATE INDIVIDUALS FOR CAREERS IN THE HOSPITALITY INDUSTRY AND PROVIDES AN ANNUAL SCHOLARSHIP (THE MARIE BAKER BROWN...

HOSPITALITY EDUCATION: THE FOUNDATION SUPPORTS PROJECTS THAT TRAIN AND EDUCATE INDIVIDUALS FOR CAREERS IN THE HOSPITALITY INDUSTRY AND PROVIDES AN ANNUAL SCHOLARSHIP (THE MARIE BAKER BROWN SCHOLARSHIP) AVAILABLE FOR HOSPITALITY STUDENTS ENROLLED AT LOCAL UNIVERSITIES. IT PRODUCES PROGRAMMING DESIGNED TO PROVIDE GUIDANCE TO HIGH SCHOOL AND COLLEGE STUDENTS INTERESTED IN CAREERS IN THE HOSPITALITY FIELD. THIS PROGRAM STRIVES TO ENSURE THAT PHILADELPHIA'S DIVERSE COMMUNITIES CAN PARTICIPATE IN AND BENEFIT FROM THE ECONOMIC BENEFITS DRIVEN BY THE TOURISM INDUSTRY.

Program 2

Expenses: $22,500

COMMUNITY IMPROVEMENT AND OUTREACH: THE FOUNDATION TRADITIONALLY SUPPORTS PROJECTS SUCH AS PHL CARES, A HIGH- IMPACT, BUSINESS-LED RESPONSE TO PHILADELPHIA'S CHRONIC STREET HOMELESSNESS ISSUE...

COMMUNITY IMPROVEMENT AND OUTREACH: THE FOUNDATION TRADITIONALLY SUPPORTS PROJECTS SUCH AS PHL CARES, A HIGH- IMPACT, BUSINESS-LED RESPONSE TO PHILADELPHIA'S CHRONIC STREET HOMELESSNESS ISSUE, MOBILIZING RESOURCES AND LEADERSHIP FOR REAL SOLUTIONS - PROMOTING HOUSING, JOBS, AND SERVICES - TO END HOMELESSNESS. THE FOUNDATION SUPPORTS THE MANAGEMENT OF PHLCARES.COM AND PROMOTIONAL ASSETS. THE FOUNDATION ALSO SUPPORTS LOCAL ORGANIZATIONS INCLUDING HABITAT FOR HUMANITY, BROAD STREET MINISTRY, FRIENDS SELECT SCHOOL, AND BELLS ACROSS PA TO ADVANCE KEY INITIATIVES AIMED AT ENHANCING PHILADELPHIA'S QUALITY OF LIFE AND BEAUTIFYING PROMINENT PUBLIC SPACES. ITS GOAL IS TO ENSURE THAT PARKS, HISTORICAL SITES, MONUMENTS, AND BUILDINGS ARE WELL MAINTAINED AND WELCOMING TO THE PUBLIC.

Program 3

Expenses: $20,000

HOSPITALITY INDUSTRY SUPPORT: THE FOUNDATION'S PROGRAMS HIGHLIGHT AND SUPPORT THE REGION'S DYNAMIC HOSPITALITY SECTOR AND EVENTS THAT SHOWCASE AND CELEBRATE THE WORK OF ALL EMPLOYED IN THE REGION'S HOSPITALITY INDUSTRY. BY HIGHLIGHTING EXISTING WORKERS AND THEIR ACCOMPLISHMENTS, THE FOUNDATION HELPS DEVELOP A ROBUST WORKFORCE FOR THE REGIONAL HOSPITALITY INDUSTRY. ADDITIONALLY, THE FOUNDATION HELPS SUPPORT THE WORK OF TOURISM DIVERSITY MATTERS (TDM), A COLLABORATIVE LEADER OF DIVERSITY, EQUITY, AND INCLUSION INITIATIVES THAT ADDRESS THE GAPS OF ETHNIC DISPARITIES IN THE TOURISM AND HOSPITALITY INDUSTRY. IT PROVIDES DECISION-MAKERS IN THE TOURISM AND EVENTS INDUSTRY ACCESS, RESOURCES, AND TACTICS TO DEVELOP MORE EFFECTIVE DEI STRATEGIES THAT ENGAGE AND RETAIN A DIVERSE WORKFORCE.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $86,000

Program Service Revenue $0

Investment Income $72,205

Other Revenue $120,236

TOTAL REVENUE $278,441

Expense Breakdown

Grants Paid $57,500

Salaries & Benefits $0

Fundraising Expenses $190,197

Program Expenses $57,500

Other Expenses $202,447

TOTAL EXPENSES $259,947

Year-over-Year Comparison

	2024	2023	Change
Revenue	$278,441	$301,189	-0.1%
Expenses	$259,947	$244,643	+0.1%
Net Income	$18,494	$56,546	-0.7%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF ADELI	TREASURER	2.00	Officer Director	$0	$0	$0
STEPHEN S AICHELE	TRUSTEE	2.00	Director	$0	$0	$0
ED BATEN	TRUSTEE	2.00	Director	$0	$0	$0
KAREN DOUGHERTY BUCHHOLZ	CHAIR	2.00	Officer Director	$0	$0	$0
LEONARD BUCKLEY	VICE CHAIR	2.00	Officer Director	$0	$0	$0
ROCHELLE CAMERON	TRUSTEE	2.00	Director	$0	$0	$0
GREGG CAREN	PRESIDENT &	2.00	Officer Director	$0	$0	$0
NICHOLAS DEBENEDICTIS	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM P HANKOWSKY	TRUSTEE	2.00	Director	$0	$0	$0
JAZELLE JONES	TRUSTEE	2.00	Director	$0	$0	$0
JOHN J KROLL	TRUSTEE	2.00	Director	$0	$0	$0
ALBA MARTINEZ	TRUSTEE	2.00	Director	$0	$0	$0
JOHN MCNICHOL	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOHN P PIERCE	SECRETARY	2.00	Officer Director	$0	$0	$0
RICHARD LEE SNOW	TRUSTEE	2.00	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
2025	$278,441	$259,947	$1,989,232	$18,494
2024	$301,189	$244,643	$1,968,115	$56,546
2023	$3,343,180	$2,725,896	$1,899,042	$617,284
2022	$304,937	$282,247	$2,291,758	$22,690
2021	$73,229	$215,610	$1,835,323	$-142,381
2020	$3,267,019	$3,213,907	$2,387,912	$53,112
2019	$3,150,446	$2,773,641	$2,173,337	$376,805
2018	$3,061,412	$2,553,731	$1,645,036	$507,681

PHILADELPHIA CONVENTION AND VISITORS BUREAU FOUNDATION