Overview
What is The Philadelphia City Institute?
The Philadelphia City Institute, established in 1852, is a nonprofit organization with a mission to foster moral and intellectual growth among young individuals. During the recent period, it has supported the Free Library Foundation of Philadelphia, a publicly-funded charitable and educational organization. In doing so, The Philadelphia City Institute provided facilities at 1901 Locust Street, Philadelphia, Pennsylvania, for the operation of a branch of the Free Library of Philadelphia. Additionally, the nonprofit made a grant to the supported organization to provide financial aid. In essence, The Philadelphia City Institute contributes to various programs of the Free Library Foundation of Philadelphia and leases its real property to the City of Philadelphia for a symbolic yearly rent, to be utilized as a free library.
Is The Philadelphia City Institute legitimate?
The Philadelphia City Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Philadelphia City Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of The Philadelphia City Institute?
The Philadelphia City Institute supports various programs of the Free Library Foundation of Philadelphia. Its primary role is to promote moral and intellectual improvement among young individuals. In the given year, the organization aided the Free Library Foundation by offering facilities for the operation of a library branch and providing a financial grant to support its operations. The Philadelphia City Institute leases its property to the City of Philadelphia for a symbolic annual rent of one dollar, which is used as a free library. The institute's mission is to contribute to the community by supporting educational and charitable initiatives, specifically the Free Library Foundation, to foster learning and personal development.
What is the revenue of The Philadelphia City Institute?
The Philadelphia City Institute's revenue in 2023 was $869,679.
Who are the executives of The Philadelphia City Institute and what are their salaries?
There 13 volunteers at The Philadelphia City Institute.
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Where can I find the form 990 for The Philadelphia City Institute?
The Philadelphia City Institute's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of The Philadelphia City Institute
The Philadelphia City Institute, established in 1852, is an organization dedicated to promoting the moral and intellectual improvement of young individuals. Its primary mission lies in supporting various programs of the Free Library Foundation of Philadelphia. In the context of its activities, the Institute leases a property to the City of Philadelphia for a symbolic one-dollar annual rent, which is then utilized as a free library.
Beyond property leasing, The Philadelphia City Institute contributes to the Free Library Foundation in two significant ways during the year under consideration. Firstly, it offers its facilities at 1901 Locust Street in Philadelphia, Pennsylvania, for the operation of a branch of the Free Library of Philadelphia. Secondly, it extends financial support to the foundation through a grant. This financial aid is instrumental in enriching the resources and capabilities of the Free Library Foundation of Philadelphia, thereby contributing to the betterment of the community as a whole. The institute's role in supporting this publicly-backed, charitable, and educational organization is instrumental in fostering an environment conducive to learning and personal growth.
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Impact
October, 2024
The Philadelphia City Institute significantly contributes to the educational and intellectual development of the community by supporting the Free Library Foundation of Philadelphia. Established in 1852, it operates a facility at 1901 Locust Street, allowing the Free Library to serve as a vital resource for residents.
The organization enhances access to educational materials and programming by leasing this property to the city for just one dollar a year, ensuring that the library remains a freely accessible community asset. Additionally, the financial support provided through grants helps sustain and expand library services, fostering a culture of learning and growth among young people and the broader community. Through these efforts, The Philadelphia City Institute plays a crucial role in promoting literacy, education, and cultural enrichment in Philadelphia.
This information is meant to be a general summary of The Philadelphia City Institute. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $182,442
- Gross Receipts: $3,344,258
Assets and Liabilities:
- Total Assets: $5,448,383
- Total Liabilities: $0
- Net Assets: $5,448,383
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Organization Details
Founding Year
1852
Principal Officer
Huntley Platt
NTEE Category
Code: B70 - Education
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