2025-06-26T08:49:35-05:00 2024-12-31 WITHUMSMITHBROWN PC 1835 MARKET STREET SUITE 1710 PHILADELPHIA PA 191032945 990 2024-01-01 231584975 The Merchants Fund of Philadelphia % JILL FINK MERC 2153991339 1617 JFK Blvd Suite 2042 Philadelphia PA 191031833 JILL FINK EXECUTIVE DIRECTOR 2153991339 2025-11-17 true true Richard Ruvelson P00234075 2155462140 2024 2025-03-06 01:10:19Z JILL FINK 1617 JFK Blvd2042 Philadelphia PA 191031833 1845017 false X www.merchantsfund.org X 1854 PA TO PROVIDE GRANTS AND OTHER SUPPORT TO MERCHANTS AND SMALL BUSINESSES IN PHILADELPHIA. 15 15 3 19 0 1191325 948564 0 0 440812 896453 0 0 1632137 1845017 1392430 661544 0 0 275797 296862 0 0 19751 103719 186677 1771946 1145083 -139809 699934 16227053 18150318 894 157283 16226159 17993035 THE MERCHANTS FUND PROVIDES GRANTS AND OTHER SUPPORT TO MERCHANTS AND SMALL BUSINESSES IN PHILADELPHIA. false false 921869 661544 MAKE DIRECT GRANTS TO BUSINESSES, SUPPORTING RETIRED MERCHANTS THROUGH OUR LEGACY PROGRAM, AND OFFERING "BEYOND THE GRANT" SERVICES THAT PROVIDE COACHING AND OTHER BUSINESS SUPPORT SERVICES. 921869 true true false false false false false false false false false false false true false true true false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false true 14 0 true 3 true false false false false false false false false false false false false X 15 15 false false false false false false false true true false false true true true true false true true false false PA X JILL FINK 2153391339 1617 JOHN F KENNEDY BLVD Philadelphia PA 191031833 JILL FINK EXECUTIVE DIRECTOR 40.0 0.0 X 172634 0 15678 KERSEY AZOCAR BOARD MEMBER 1.0 0.0 X 0 0 0 TOM GINSBERG BOARD MEMBER 1.0 0.0 X 0 0 0 PETER GONZALES PRESIDENT 1.0 0.0 X X 0 0 0 BRUCE HOTALING BOARD MEMBER 1.0 0.0 X 0 0 0 JAMES JOHNSON-PIETT BOARD MEMBER 1.0 0.0 X 0 0 0 VANESSA LOWE BOARD MEMBER 1.0 0.0 X 0 0 0 SEULKY MCINNESHIN BOARD MEMBER 1.0 0.0 X 0 0 0 CAREY MORGAN TREASURER 1.0 0.0 X X 0 0 0 SHAWN NESBIT BOARD MEMBER 1.0 0.0 X 0 0 0 SAMANTHA PORTER SECRETARY 1.0 0.0 X X 0 0 0 ELBERT SAMPSON BOARD MEMBER 1.0 0.0 X 0 0 0 SHALIMAR THOMAS BOARD MEMBER 1.0 0.0 X 0 0 0 JOANNA WINCHESTER BOARD MEMBER 1.0 0.0 X 0 0 0 ANA LISA YODER VICE PRESIDENT 1.0 0.0 X X 0 0 0 ADNAN ZULFIQAR BOARD MEMBER 1.0 0.0 X 0 0 0 172634 0 15678 1 false true false 0 842014 106550 948564 0 896453 896453 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1845017 896453 630261 630261 31283 31283 0 0 188312 115775 66222 6315 0 70661 43442 24849 2370 4902 3014 1724 164 14068 8649 4947 472 18919 11631 6653 635 0 1910 1910 17205 17205 0 0 44737 44737 24861 7118 9173 8570 45058 45058 22473 9272 12829 372 0 0 16095 8048 7243 804 8877 8318 510 49 0 0 0 0 0 5461 5461 1145083 921869 203463 19751 381602 179384 23351 706035 0 265654 0 0 0 0 0 0 0 0 0 0 21496 84938 0 0 8182869 8691442 0 0 0 0 0 0 7617735 8222865 16227053 18150318 894 1144 0 0 0 156139 0 0 0 0 0 0 0 0 0 0 0 0 894 157283 X 8608424 9504516 7617735 8488519 16226159 17993035 16227053 18150318 X 699934 461812 605130 X false true X true false X 1721610 560300 158252 1191325 948564 4580051 0 0 1721610 560300 158252 1191325 948564 4580051 304727 4275324 49128 423308 406619 440812 896453 2216320 0 0 6796371 0.62906 0.73160 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED PERPETUAL TRUST 8222865 8222865 0 0 X 2867222 461812 605130 1066942 1800280 44737 44737 1845017 1100346 1100346 44737 44737 1145083 Form 990, Schedule D, Part XI, Line 2d Change in beneficial interest in perpetual trusts - $605,130. Form 990, Schedule D, Part X - Line 2 The Fund is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the Fund's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the Fund qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and has been classified as an organization other than a private foundation under Section 509(a)(1). GAAP requires entities to evaluate, measure and recognize any uncertain tax positions. GAAP prescribes a minimum threshold that a tax position is required to meet in order to be recognized in the financial statements. The Fund believes that it had no uncertain tax positions as defined by GAAP. true Hayaa Boutiquee LLC 5216 Walnut Street ph PA 19131 462437575 20000 Emergency New Zhong Gang Bakery Inc 127 N 10th St APT 2402 Philadelphia PA 19107 472305065 20000 Emergency Rybread Too Inc dba Rybrew 2600 W Girard Ave Philadelphia PA 19130 461784595 15000 Emergency El Fogon Latino Restaurant 4505 N 5th St Philadelphia PA 19140 371980438 12668 Emergency ROCKY PHILLY 21 LLC 48 S 3rd Street Philadelphia PA 19106 994581750 12000 Emergency 1555 Newkirk Grocery 1555 S Newkirk St Philadelphia PA 19146 990551451 11320 Emergency 721 By DSC 846 N 44th Street Commercial Unit Philadelphia PA 91932 932877686 11000 Emergency Munir Food Inc 16 S 60 street Philadelphia PA 19139 680338392 10000 Emergency Won & I 5656 N 5TH ST Philadelphia PA 19120 882195936 10000 Stabilization Carnita INC 4458 N 5th St Philadelphia PA 19140 233083635 10000 Stabilization Asanti Hair Studio 2715 W Girard Ave Philadelphia PA 19130 020669179 10000 Stabilization VITAM AMERICA 3560 Salmon street Philadelphia PA 19114 352670500 10000 Stabilization New Number 1 Seafood LLC 2234 S 7th ST Philadelphia PA 19148 863764484 10000 Stabilization Spot Gourmet Burgers 2821 W Girard Ave Philadelphia PA 19130 474643386 9500 Emergency Expect Lace 4403 Main Street Philadelphia PA 19127 813346516 9500 Stabilization The Pasta Lab 1626 N American St Philadelphia PA 19122 320567354 9500 Stabilization Chester Wireless & Electronics 5519 Chester Avenue Philadelphia PA 19143 873997074 9100 Emergency Winn-Hers Inc 4266 main street Philadelphia PA 19127 134247256 9000 Emergency Nubella Nails 2303 N Front St Philadelphia PA 19133 900923457 9000 Stabilization Blacqskirt Company LLC 7161 GERMANTOWN AVENUE Philadelphia PA 19119 264370507 9000 Stabilization Munir Food Inc 16 S 60 street Philadelphia PA 19139 842015241 8500 Emergency Expansions Contemporary Dance EnsembleWissahic 38 E Schoolhouse Ln Philadelphia PA 19144 842015241 8500 Stabilization Ok Food Century LLC 1801 WASHINGTON AVE UNIT D Philadelphia PA 19146 830707108 8100 Stabilization Los Muchachos Barbershop 4323 N 5th st Philadelphia PA 19140 977967997 8000 Emergency Mad greek's pizza 3517 Lancaster Ave Philadelphia PA 19104 371981940 8000 Emergency C&K Food Market 5836 Torresdale Ave Philadelphia PA 19135 263111600 8000 Stabilization Bread Top House 1041 Race St Philadelphia PA 19107 833083753 8000 Stabilization Thai Singha House 3906B Chestnut Street Philadelphia PA 19104 232615517 8000 Stabilization Vanderwendes Philadelphia LLC 243 Market St Philadelphia PA 19106 882423821 7500 Emergency Mr Platano LLC 4515 N 5th st Philadelphia PA 19140 851409033 7500 Emergency Lee How Fook 219 N 11th St Philadelphia PA 19107 824468855 7500 Stabilization Okie Dokie Donuts LLC 1439 Snyder Ave Philadelphia PA 19145 833832048 7500 Stabilization Bradshaw Beauty 2129 E Lehigh ave Philadelphia PA 19125 464841265 7500 Stabilization GLOBAL MODERN CENTURY LLC 1540 West Ritner st 1st floor Philadelphia PA 19145 820855138 7500 Stabilization Blessing of God Beauty Salon 446 E Wyoming Ave Philadelphia PA 19120 842039614 7500 Stabilization Dolly's Boutique 6778 Germantown Ave Philadelphia PA 19119 7500 Other Listo Inc 4636 N 5th St Philadelphia PA 19140 232779293 7260 Emergency DONUT PLUS 1400 West Erie Avenue Philadelphia PA 19140 472704820 7000 Emergency VillaDang LLC DBA Baby's Kusina and Market 2816 W Girard Avenue Philadelphia PA 19130 831908483 7000 Emergency NV MY EYEWEAR LLC 5125 Walnut St Philadelphia PA 19139 475561053 7000 Stabilization Germary Beauty Salon 1828 S 20th st Philadelphia PA 19145 452928126 6700 Stabilization The Fire 410-412 W Girard Ave Philadelphia PA 19123 232523819 6450 Emergency Artiva Hair Salon 217 N 11th St Rear Philadelphia PA 19107 463363220 6000 Emergency Leandros Pizza House 4501 Frankford Avenue Philadelphia PA 19124 201806848 6000 Emergency Ively Grocery 100 W Wishart Philadelphia PA 19133 580214138 6000 Stabilization Pretty Girls Cook 1016 n Marshall Street Philadelphia PA 19123 475443387 6000 Stabilization So Raw Apparel 110 S 60th St Philadelphia PA 19139 465637904 6000 Stabilization Remedy Spa & Wellness 1208 N 29th Street Philadelphia PA 19121 464136467 5700 Emergency La Cocina de Lucia Corp 4339 N 6th St Philadelphia PA 19124 814989156 5600 Emergency The Welcoming Center 211 N 13th Street 4th floor Philadelphia PA 19107 233001411 5500 Special Group Artesana Mundo De Queen 642 McClellan Street Philadelphia PA 19148 925994649 5500 Emergency Upscale Resale Corp 4355 Main Strret Philadelphia PA 19127 452776992 5500 Emergency JAZV U CITY INC 4415 Main Street Philadelphia PA 19127 832643511 5500 Stabilization Taqueria Morales INC 1429 Jackson St Philadelphia PA 19145 320614596 5500 Stabilization D Rose Beauty Salon 4653 North 5th st Philadelphia PA 19140 680338392 10000 Emergency 0 55 Stipends 5 31283 Part I Description of Procedure for Monitoring Use of Funds TMF uses QuickBooks for all accounting and tracks revenue and expenses by Class in order to monitor how grant & government income is spent. Further a grant management software is used to track all grant payments made to small businesses. Reports from the grant management software and QuickBooks are compared as a means of ensuring that there are no DISCREPANCIES. A SCORING RUBRIC HAS BEEN DEVELOPED THAT PROVIDES A SCORE FOR EACH APPLICATION BASED ON HOW WELL THE APPLICANT/PROJECT MEETS FUNDING PRIORITIES AND THE GOALS OF THE GRANT PROGRAM. ADDITIONAL CONSIDERATION IS GIVEN TO THE IMPACT THE GRANT WOULD HAVE ON THE MERCHANT AND FOR THE BUSINESS, AS WELL AS ANY ADDITIONAL IMPACT OR BENEFIT TO THE LARGER NEIGHBORHOOD AND COMMUNITY. X X X X false false false false false false false false false JILL FINK EXECUTIVE DIRECTOR 172634 0 0 0 0 0 15678 0 0 0 188312 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B: IN 2022, THE ORGANIZATION ESTABLISHED AN AUDIT COMMITTEE AS A SUB-COMMITTEE OF THE FINANCE COMMITTEE TO PERFORM AN INITIAL REVIEW OF THE FORM 990 BEFORE IT IS PROVIDED TO THE FULL BOARD PRIOR TO FILING. THE FULL BOARD WILL THEN REVIEW THE FORM 990 AND VOTE TO "ACCEPT" THE FILING. FORM 990, PART VI, SECTION B, LINE 12C: AN INTERESTED PERSON MUST DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE MANAGERS OR THE EXECUTIVE DIRECTOR. AFTER DISCLOSURE OF THE ACTUAL OR POSSIBLE CONFLICTS OF INTERESTS AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE MANAGERS SHALL DETERMINE WHETHER A CONFLICT EXISTS. IN THE EVENT A MANAGER IS THE INTERESTED PERSON, THE INTERESTED PERSON SHALL ABSTAIN FROM PARTICIPATING IN SUCH DECISION. THE MANAGERS SHALL MEMORIALIZE THEIR CONSIDERATION OF REPORTED CONFLICTS OF INTEREST IN THE MINUTES OF THE RELEVANT MANAGERS' MEETING OR PROGRAM COMMITTEE MEETING OR IN SUCH OTHER PERMANENT WRITTEN RECORD OF TMF AS THEY SHALL DEEM APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15A: THE MANAGERS SHALL HAVE THE FINAL RESPONSIBILITY FOR DETERMINING APPROPRIATE COMPENSATION FOR MANAGERS, THE EXECUTIVE DIRECTOR, EMPLOYEES, MEMBERS OF ADVISORY TEAMS, OR OTHER CONSULTANTS. THE MANAGERS SHALL SEEK INFORMATION AND ADVICE FROM OUTSIDE SOURCES WITH REGARD TO APPROPRIATE COMPENSATION FOR INDIVIDUALS WHO PROVIDE SERVICES TO TMF BY COMPARING INDIVIDUALS AT OTHER ORGANIZATIONS WHO PERFORM SIMILAR TASKS AND WHO HAVE SIMILAR RESPONSIBILITIES AND COMPARABLE EDUCATION, EXPERIENCE AND SKILLS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XII, Line 9: Change in beneficial interest in perpetual trusts - $605,130.