THE PHILADELPHIA CITIZEN

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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

2013

Legal Domicile

Principal Officer

RACHAEL THORN

Phone

2152598196

Tax Period

2024-07-01 to 2025-06-30

THE PHILADELPHIA CITIZEN, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $625K in total revenue in fiscal year 2024. Revenue fell 49% from the prior year — a significant decline worth monitoring. Expenses of $1.0M exceeded revenue, resulting in a 67% operating deficit.

Mission

THE PHILADELPHIA CITIZEN, A NONPROFIT, NONPARTISAN MEDIA ORGANIZATION, HAS A DUAL MISSION: TO PROVIDE DEEPLY REPORTED JOURNALISM THAT EMPHASIZES SOLUTIONS THAT CAN MOVE OUR REGION FORWARD, AND TO ACTIVELY REIGNITE CITIZENSHIP IN AND AROUND PHILADELPHIA.

Program Service Accomplishments

Program 1

Expenses: $658,137 Revenue: $125,594

THE PHILADELPHIA CITIZEN'S PROGRAM SERVICE ACCOMPLISHMENTS FOR ITS THREE LARGEST PROGRAM SERVICES INCLUDE SIGNATURE THOUGHT LEADER CONVENINGS, AN ONGOING NEWS WEBSITE, AND CIVIC ENGAGEMENT...

THE PHILADELPHIA CITIZEN'S PROGRAM SERVICE ACCOMPLISHMENTS FOR ITS THREE LARGEST PROGRAM SERVICES INCLUDE SIGNATURE THOUGHT LEADER CONVENINGS, AN ONGOING NEWS WEBSITE, AND CIVIC ENGAGEMENT OPPORTUNITIES. 1. THOUGHT LEADER CONVENINGS INCLUDED THE IDEAS WE SHOULD STEAL FESTIVAL, REAL ESTATE DEVELOPMENT FOR... GOOD EVENT SERIES, AND AUTHOR EVENTS. THESE EVENTS INCLUDED PANEL SPEAKERS, INVITING THE PHILADELPHIA PUBLIC TO LISTEN AND ENGAGE WITH CIVIC IDEAS AND SOLUTIONS. REVENUE WAS GENERATED THROUGH SPONSORSHIP AND TICKET SALES. FUNDRAISING WAS SOLICITED THROUGH CALLS FOR DONATION AT EVENTS. 2. THE CITIZEN'S EDITORIAL OUTPUT INCLUDES WEBSITE ARTICLES FIVE TO TEN TIMES PER WEEK COVERING PHILADELPHIA CIVIC, SOCIAL, POLITICAL, AND CULTURAL NEWS AS WELL AS A WEEKLY NEWSLETTER. SOME EDITORIAL SERIES GENERATE REVENUE THROUGH SPONSORSHIP. 3. CIVIC ENGAGEMENT OPPORTUNITIES INCLUDED THE ULTIMATE JOB INTERVIEW SERIES WHICH ALLOWED PHILADELPHIANS TO CREATE A MAYORAL JOB DESCRIPTION TOGETHER, THEN USE THAT DESCRIPTION TO INTERVIEW MAYORAL CANDIDATES. THIS PROGRAM ALSO INCLUDED VOTER INFORMATION RESOURCES SUCH AS GUIDES AND CANDIDATE PROFILES TO INFORM THE PUBLIC ON THEIR CHOICES FOR THE PHILADELPHIA 2023 MAYORAL ELECTION. THIS EFFORT WAS SUPPORTED BY GRANT FUNDING AND CALL FOR INDIVIDUAL DONATIONS.

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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 $483,810

Program Service Revenue $125,594

Investment Income $0

Other Revenue $15,340

TOTAL REVENUE $624,744

Expense Breakdown

Grants Paid $0

Salaries & Benefits $408,773

Fundraising Expenses $279,082

Program Expenses $658,137

Other Expenses $634,574

TOTAL EXPENSES $1,043,347

Year-over-Year Comparison

	2024	2023	Change
Revenue	$624,744	$1,217,521	-0.5%
Expenses	$1,043,347	$1,047,558	0.0%
Net Income	$-418,603	$169,963	-3.5%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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
LARRY PLATT	PRESIDENT	40.00	Officer Director	$0	$0	$0
ROBERT KEITH	INTERIM CHAIR	3.00	Officer Director	$0	$0	$0
MIA FIORAVANTI	DIRECTOR	3.00	Director	$0	$0	$0
KAREN KEATING MARA	DIRECTOR	3.00	Director	$0	$0	$0
BRET PERKINS	DIRECTOR	3.00	Director	$0	$0	$0
ALI VELSHI	DIRECTOR	3.00	Director	$0	$0	$0
DAVID MASER	DIRECTOR	3.00	Director	$0	$0	$0
ANGELA VAL	DIRECTOR	3.00	Director	$0	$0	$0
JENNIFER RICE	DIRECTOR	3.00	Director	$0	$0	$0
LEAH POPOWICH	DIRECTOR	3.00	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	$624,744	$1,043,347	$35,760	$-418,603
2024	$1,217,521	$1,047,558	$386,337	$169,963
2023	$929,015	$831,434	$110,934	$97,581
2021	$315,591	$380,575	$172,294	$-64,984
2020	$608,928	$815,048	$224,169	$-206,120
2019	$523,720	$640,669	$455,420	$-116,949
2018	$998,947	$531,138	$607,658	$467,809