Overview
What is Philly Races Inc?
Philly Races Inc, established in Philadelphia, Pennsylvania, serves as a collaborative advocate for the City of Philadelphia Parks and Recreation Department (PPR). Their primary mission is to support and promote PPR's activities. One of their most significant initiatives is the organization of the Blue Cross Broad Street Run, which is the nation's largest 10-mile race. This event, managed in collaboration with city agencies and over 90 volunteer groups, brings together the community and contributes to an active and engaged city life. Philly Races Inc, as a nonprofit organization, operates with a charitable and educational purpose, focusing on supporting and advocating for PPR.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating from Charity Navigator)
Philly Races Inc has earned a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. The organization's score is based entirely on its accountability and finance metrics, indicating a well-structured financial oversight framework. With 100% of its board members being independent, it demonstrates a commitment to ethical governance and effective oversight.
The nonprofit excels in several areas, including its high program expense ratio of 93.86%, suggesting that a significant portion of its funds is allocated directly to its mission-related activities. Additionally, it has robust policies in place for conflict of interest, whistleblower protection, and document retention, all of which contribute to its overall accountability standards. The absence of any material diversion of assets further reinforces its financial integrity.
While the organization showcases strong financial health and governance practices, it will be essential for it to maintain this high standard going forward. Continuous monitoring and evaluation will help ensure that it remains aligned with its mission and effectively serves its community.
This AI summary has been generated from information found on Charity Navigator.
Is Philly Races Inc legitimate?
Philly Races Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Philly Races Inc 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Philly Races Inc?
Philly Races Inc, a charitable organization, is committed to serving as a collaborative advocate for the City of Philadelphia's Parks and Recreation Department. Their mission is to support and reinforce the department's efforts, working together to promote the well-being and development of the city's parks and recreational facilities. Phyllis Races Inc. has played a significant role in organizing events, such as the Broad Street Run, which is the nation's largest 10-mile race. This event is conducted in collaboration with the department, city agencies, and numerous volunteer groups, demonstrating their dedication to community engagement and promoting recreational activities.
Who is the CEO of Philly Races Inc?
Peter Mooney is the President of Philly Races Inc.
What is the revenue of Philly Races Inc?
Philly Races Inc's revenue in 2022 was $2,504,992.
Who are the executives of Philly Races Inc and what are their salaries?
There 3000 volunteers at Philly Races Inc.
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Philly Races Inc?
Philly Races Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Philly Races Inc
Philly Races Inc, a nonprofit organization, is dedicated to serving as a collaborative advocate for the City of Philadelphia Parks and Recreation Department (PPR). The mission of Philly Races Inc is multifaceted, aimed at supporting PPR in its endeavors. This collaboration involves advocating for the department's interests and promoting its initiatives within the community.
Established for charitable and educational purposes, Philly Races Inc plays a significant role in supporting PPR by operating the Blue Cross Broad Street Run. This annual 10-mile race is a significant event in the city, managed by PPR with the assistance of city agencies and more than 90 volunteer groups. Philly Races Inc's involvement in this event underscores its commitment to collaborating with PPR and contributing to the city's recreational activities. The Broad Street Run is not just a race; it's a testament to Philly Races Inc's dedication to promoting physical fitness, community engagement, and supporting PPR's mission to provide recreational opportunities for the city's residents.
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Impact
July, 2024
Philly Races Inc's impact lies in its role as a collaborative advocate for the City of Philadelphia Parks and Recreation Department (PPR). Through organizing the Broad Street Run, which is the nation's largest 10-mile race managed in partnership with the PPR and various city agencies and volunteer groups, Philly Races Inc contributes to promoting physical activity, community engagement, and the enhancement of public spaces in Philadelphia. By focusing on charitable and educational purposes, Philly Races Inc plays a vital role in supporting and enhancing the city's recreational opportunities and overall well-being.
This information is meant to be a general summary of Philly Races Inc. 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 2022.
- Program Service Revenue: $1,799,966
- Gross Receipts: $2,504,992
Assets and Liabilities:
- Total Assets: $1,408,741
- Total Liabilities: $0
- Net Assets: $1,408,741
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RACE REGISTRATION - INDIVIDUALS
Revenue
$1,764,333
EXPO INCOME
Revenue
$16,200
REBATE INCOME
Revenue
$12,287
REFUNDS
Revenue
$7,146
Organization Details
Founding Year
2014
Phone
(215) 808-7361Principal Officer
Peter Mooney
Main Address
1515 ARCH ST, PHILADELPHIA, PA, 19102
NTEE Category
Code: N11 - Recreation
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