Nonprofit · EIN 04-3731829
THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION
Tax-exempt · PHILADELPHIA, PA 19103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $26,054,320 | $22,756,190 | $3,298,130 | $133,928,628 | $5,672,646 | $128,255,982 |
| December 31, 2023 | 990 | $31,951,841 | $21,808,175 | $10,143,666 | $124,527,937 | $3,788,099 | $120,739,838 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $21,531,115
- Program service revenue
- $0
- Investment income
- $4,349,761
- Net gain from sales of assets
- $951,804
- Other revenue
- $173,444
Expenses
- Grants and similar amounts paid
- $15,091,490
- Compensation of officers, directors and key employees
- $1,554,714
- Other salaries and wages
- $1,303,999
- Salaries, compensation and benefits (total)
- $3,126,280
- Professional fundraising fees
- $0
- Legal fees
- $75,570
- Accounting fees
- $63,459
- Occupancy
- $89,805
- Travel
- $127,848
- Depreciation
- $14,073
- Program services (functional)
- $20,019,632
- Management and general (functional)
- $1,370,195
- Fundraising (functional)
- $1,366,363
Balance sheet and other
- Total assets, start of year
- $124,527,937
- Total assets, end of year
- $133,928,628
- Total liabilities, end of year
- $5,672,646
- Net assets, end of year
- $128,255,982
- Land, buildings and equipment
- $93,409
- Publicly traded securities
- $94,802,559
- Net assets without donor restrictions
- $31,690,173
- Net assets with donor restrictions
- $96,565,809
- Gross receipts
- $37,329,393
- Employees
- 19
- Volunteers
- 33
- Year formed
- 2002
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JAMES FRIEDLICH | CHIEF EXECUTIVE OFFICER - LLC Trustee or director, Officer | 37 | $553,995 | $0 | $87,579 |
| PEDRO A RAMOS | SECRETARY, PRESIDENT & CEO Trustee or director, Officer | 1.2 | $0 | $451,338 | $77,078 |
| ANNIE MADONIA | CHIEF ADVANCEMENT OFFICER - LLC Key employee | 37 | $291,759 | $0 | $89,063 |
| KEN HERTS | CHIEF OPERATING OFFICER - LLC Officer | 37 | $316,150 | $0 | $36,971 |
| ORLANDO ESPOSITO | TPF CHIEF FINANCIAL OFCR TO JUN 2024 Officer | 1 | $0 | $200,568 | $57,029 |
| SHAWN MOORING | HEAD OF PHILADELPHIA PROGRAMS - LLC Highest-paid employee | 35 | $173,941 | $0 | $48,388 |
| REBECCA FORMAN | HEAD OF DEVEL & DONOR RELATIONS -LLC Highest-paid employee | 35 | $189,326 | $0 | $27,789 |
| KAREN CLEARY | CHIEF FINANCIAL OFFICER - LLC Officer | 28 | $145,764 | $0 | $47,810 |
| JOSEPH LICHTERMAN | HEAD OF EDITORIAL AND COMMS - LLC Highest-paid employee | 35 | $143,334 | $0 | $15,931 |
| KAREN MORRIS | CONTROLLER - LLC Highest-paid employee | 35 | $114,162 | $0 | $20,337 |
| CHRISTINE CONTI | TPF CHIEF FINANCIAL & ADMIN OFFICER Officer | 1 | $0 | $116,827 | $11,683 |
| JACQUELINE GALIANI | HUMAN RESOURCES MANAGER - LLC Highest-paid employee | 35 | $105,029 | $0 | $11,568 |
| LON GREENBERG | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| WILLIAM J BURKE | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ROSALIND REMER | CHAIR - LLC Trustee or director, Officer | 1 | $0 | $0 | $0 |
25 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL X DELLI CARPINI PHD | VICE CHAIR - LLC Trustee or director, Officer | 1 | $0 |
| KATE ALLISON | BOARD MEMBER Trustee or director | 1 | $0 |
| HOLLY FLANAGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| CHRISTINA MESIRES FOURNARIS | BOARD MEMBER Trustee or director | 1 | $0 |
| WILLIAM P HANKOWSKY | BOARD MEMBER Trustee or director | 1 | $0 |
| DIXIEANNE JAMES | BOARD MEMBER Trustee or director | 1 | $0 |
| ALDUSTUS AJ JORDAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SHIRIN KARSAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SHARMAIN MATLOCK-TURNER | BOARD MEMBER Trustee or director | 1 | $0 |
| EVELYN MCNIFF | BOARD MEMBER Trustee or director | 1 | $0 |
| MICHAEL K PEARSON | BOARD MEMBER Trustee or director | 1 | $0 |
| WENDELL PRITCHETT | BOARD MEMBER Trustee or director | 1 | $0 |
| ANDREW ROGOFF | BOARD MEMBER Trustee or director | 1 | $0 |
| JANE SCACCETTI | BOARD MEMBER Trustee or director | 1 | $0 |
| EVAN URBANIA | BOARD MEMBER Trustee or director | 1 | $0 |
| ELLEN SINIS BADGER | MANAGER - LLC Trustee or director | 1 | $0 |
| DAVID BOARDMAN | MANAGER - LLC Trustee or director | 1 | $0 |
| LASHARAH BUNTING | MANAGER - LLC Trustee or director | 1 | $0 |
| DAVID HAAS | MANAGER - LLC Trustee or director | 1 | $0 |
| ERRIN HAINES | MANAGER - LLC Trustee or director | 1 | $0 |
| KEITH LEAPHART | MANAGER - LLC Trustee or director | 1 | $0 |
| SHELTON MERCER III | MANAGER - LLC Trustee or director | 1 | $0 |
| HONG QU | MANAGER - LLC Trustee or director | 1 | $0 |
| SULAIMAN RAHMAN | MANAGER - LLC Trustee or director | 1 | $0 |
| VIJAY RAVINDRAN | MANAGER - LLC Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 42 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JAMES FRIEDLICH | CHIEF EXECUTIVE OFFICER - LLC Trustee or director, Officer | 37 | $496,259 | $0 | $76,555 |
| PEDRO A RAMOS | SECRETARY, PRESIDENT & CEO Trustee or director, Officer | 1.2 | $0 | $424,584 | $66,225 |
| ANNIE MADONIA | CHIEF ADVANCEMENT OFFICER - LLC Key employee | 37 | $304,349 | $0 | $64,455 |
| KEN HERTS | CHIEF OPERATING OFFICER - LLC Officer | 37 | $303,716 | $0 | $32,951 |
| ORLANDO ESPOSITO | TPF CHIEF FINANCIAL OFFICER Officer | 1 | $0 | $200,158 | $51,544 |
| REBECCA FORMAN | HEAD OF DEVEL & DONOR RELATIONS-LLC Highest-paid employee | 35 | $181,609 | $0 | $24,961 |
| SHAWN MOORING | HEAD OF PHILADELPHIA PROGRAMS - LLC Highest-paid employee | 35 | $167,889 | $0 | $27,541 |
| AMY KOVAC-ASHLEY | HEAD OF NATIONAL PROGRAMS - LLC Highest-paid employee | 35 | $183,065 | $0 | $10,106 |
| KAREN CLEARY | CHIEF FINANCIAL OFFICER - LLC Officer | 28 | $141,582 | $0 | $32,355 |
| JOSEPH LICHTERMAN | HEAD OF EDITORIAL AND COMMS - LLC Highest-paid employee | 35 | $133,563 | $0 | $14,387 |
| DIANA LU | DIR LOCAL NEWS TRANSFORMATION FD-LLC Highest-paid employee | 35 | $122,549 | $0 | $18,923 |
| LON GREENBERG | CHAIR JUL 2023, VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| WILLIAM J BURKE | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KATE ALLISON | CHAIR TO JUN 2023, BRD MBR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ROSALIND REMER | CHAIR - LLC Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL X DELLI CARPINI PHD | VICE CHAIR - LLC Trustee or director, Officer | 1 | $0 | $0 | $0 |
| STEVEN SCOTT BRADLEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| FERNANDO CHANG-MUY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| HOLLY FLANAGAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| CHRISTINA MESIRES FOURNARIS | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| WILLIAM P HANKOWSKY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DIXIEANNE JAMES | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| SHIRIN KARSAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| EVELYN MCNIFF | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL K PEARSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| R DUANE PERRY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| WENDELL PRITCHETT | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ANDREW ROGOFF | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JANE SCACCETTI | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| EVAN URBANIA | BOARD MEMBER AS OF MAY 2023 Trustee or director | 1 | $0 | $0 | $0 |
| ELLEN SINIS BADGER | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| DAVID BOARDMAN | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| DAVID HAAS | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| TONY HAILE | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| ERRIN HAINES | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| KEITH LEAPHART | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| SHELTON MERCER III | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| MARTIN NISENHOLTZ | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| HONG QU | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| SULAIMAN RAHMAN | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| VIJAY RAVINDRAN | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
| ROY ROSIN | MANAGER - LLC Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1835 MARKET ST STE 2410, PHILADELPHIA, PA 19103-2909
- In care of
- % JEFF PERKINS
- Principal officer (990 for 2024)
- PEDRO A RAMOS, 1835 MARKET STREET 2410, PHILADELPHIA, PA 19103
- Signed the 990
- PEDRO A RAMOS, PRESIDENT & CEO
- Phone
- (215) 563-6417
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
THE MISSION OF THE LENFEST INSTITUTE FOR JOURNALISM SPECIAL ASSET FUND OF THE PHILADELPHIA FOUNDATION (THE INSTITUTE) IS TO RECEIVE, MANAGE, AND DISTRIBUTE ASSETS IN SUPPORT OF THE PHILADELPHIA FOUNDATION (TPF) BY ENABLING QUALITY LOCAL JOURNALISM THAT SERVES ITS COMMUNITIES.
Program accomplishments
- THE LENFEST INSTITUTE FOR JOURNALISM, LLC (LLC):THE LLC IS A DISREGARDED ENTITY OF THE INSTITUTE THAT SUPPORTS BOTH THE DIGITAL TRANSFORMATION OF HERITAGE NEWS ORGANIZATIONS AND THE ENTREPRENEURIAL EFFORTS OF YOUNG, INNOVATIVE COMPANIES. THE INSTITUTE BELIEVES THAT QUALITY CIVIC JOURNALISM REQUIRES NEW BUSINESS MODELS, POWERFUL INNOVATIONS AND GROWING, DIVERSE AUDIENCES TO ACHIEVE SUSTAINABILITY IN THE DIGITAL AGE. IT FUNDS PROGRAMS THAT PRODUCE HIGH-IMPACT JOURNALISM, INNOVATIVE NEWS TECHNOLOGY, AND THAT HELP LOCAL NEWS ORGANIZATIONS REACH NEW AUDIENCES AND DEVELOP SUSTAINABLE DIGITAL BUSINESS MODELS.(CONTINUED ON SCHEDULE O.)TO ACCOMPLISH THE ORGANIZATION'S EXEMPT PURPOSE, AND CREATE CLARITY OF FOCUS UNDERNEATH THE OVERARCHING PROGRAM OBJECTIVES, THREE CORE CATEGORIES HAVE BEEN DEVELOPED: NATIONAL, PHILADELPHIA, AND THE INQUIRER. THE FOLLOWING SPECIFIC PROGRAMMATIC ACTIVITIES AND ACCOMPLISHMENTS ALL SERVE THE OVERARCHING PROGRAMMATIC OBJECTIVES TO SUPPORT PROGRAMS THAT PRODUCE HIGH-IMPACT JOURNALISM, INNOVATE NEWS TECHNOLOGY, AND LEAD TO HIGHLY ENGAGED, DIVERSE AND GROWING AUDIENCES.THE PHILADELPHIA INQUIRER:THE LENFEST INSTITUTE IS THE NONPROFIT, NON-CONTROLLING OWNER OF THE PHILADELPHIA INQUIRER, WHICH IS NOW THE LARGEST NEWSPAPER IN AMERICA OPERATED AS A PUBLIC-BENEFIT CORPORATION. THE INSTITUTE'S OWNERSHIP OF THE INQUIRER, WHICH COVERS ONE OF THE LARGEST, MOST DIVERSE METRO REGIONS IN THE COUNTRY, IS THE CORNERSTONE OF ITS ENTHUSIASTIC INVESTMENT IN LOCAL NEWS.THE PHILADELPHIA NEWS ECOSYSTEM:IN THE PHILADELPHIA AREA, THE INSTITUTE FACILITATES A COLLABORATIVE NEWS AND INFORMATION ECOSYSTEM THAT BUILDS ON VALUABLE HISTORY WHILE ALSO FOSTERING ENTREPRENEURIAL VISION AND INNOVATION. DIVERSITY AND REPRESENTATION ARE CRITICAL COMPONENTS OF POSITIVE BUSINESS OUTCOMES. THE INSTITUTE IS WORKING TO DEFINE DIFFERENT PATHWAYS TO SUSTAINABILITY FOR PUBLISHERS WHILE ALSO ENSURING A DIVERSITY OF REPRESENTATIVE VOICES AND LEADERSHIP IN BOTH LEGACY AND INDEPENDENT MEDIA REFLECTIVE OF THE COMMUNITIES THEY ARE SERVING. SPOTLIGHT PA:SPOTLIGHT PA, THE HARRISBURG NEWSROOM LAUNCHED BY THE LENFEST INSTITUTE AND THE PHILADELPHIA INQUIRER, CREATES HIGH-QUALITY NONPARTISAN INVESTIGATIVE AND ACCOUNTABILITY REPORTING FOR THE BENEFIT OF ALL PENNSYLVANIANS. IT PROVIDES ITS REPORTING FREE-OF-CHARGE TO MORE THAN 80 OTHER NEWSPAPERS, PUBLIC RADIO STATIONS, AND WEBSITES THROUGHOUT THE COMMONWEALTH. AS THE STEWARD OF BOTH THE INQUIRER AND SPOTLIGHT PA, THE INSTITUTE IS BLAZING A UNIQUE PATH BY SERVING LEGACY PUBLISHERS AND DIGITAL START-UPS AS THEY AIM TO FILL GAPS AND SERVE NEW AND UNDERREPRESENTED AUDIENCES. NATIONAL SOLUTIONS FOR LOCAL NEWS:NATIONALLY, THE INSTITUTE LEVERAGES ITS INSTITUTIONAL EXPERTISE AND RESOURCES TO FACILITATE CAPACITY BUILDING FOR LOCAL NEWS PUBLISHERS THROUGH TRAINING PROGRAMS AND GRANTMAKING TO SUPPORT THE IMPLEMENTATION OF BUSINESS MODEL BEST PRACTICES. OTHER PROGRAM ACTIVITIES:THE INSTITUTE SUPPORTS BOTH THE DIGITAL TRANSFORMATION OF HERITAGE NEWS ORGANIZATIONS AND THE ENTREPRENEURIAL EFFORTS OF YOUNG, INNOVATIVE COMPANIES. OTHER PROGRAM ACTIVITIES INCLUDE CONVENING, ADVISORY WORK, LEARNINGS SEMINARS, RESEARCH AND OTHER OUTREACH IN SUPPORT OF LOCAL JOURNALISM.Expenses $20,019,632 · grants $15,091,490
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-3731829
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T12)
- Assets (IRS master file)
- $133,928,628
- Income (IRS master file)
- $37,329,393
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $26,054,320 | $22,756,190 | $133,928,628 | IRS |
| 990 | December 2023 | $31,951,841 | $21,808,175 | $124,527,937 | XML |
| 990 | December 2022 | $41,516,736 | $21,565,100 | $107,280,135 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | $21,750,954 | $30,909,697 | $97,432,232 | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-3731829).
Questions about THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION
- What is the EIN of THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION?
- The employer identification number (EIN) of THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION is 04-3731829.
- Is THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION?
- The 990 for the year ended December 31, 2024 names PEDRO A RAMOS.
- Who are the officers and directors of THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 40 people; 9 received compensation from the organization, the highest $553,995 (JAMES FRIEDLICH, CHIEF EXECUTIVE OFFICER - LLC).
- How much revenue does THE LENFEST INST FOR JOURNALISM SPE ASSET FUND OF THE PHL FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $26,054,320, expenses of $22,756,190 and total assets of $133,928,628 at year end.
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