Nonprofit · EIN 45-2561701
THE PHILADELPHIA FASHION INCUBATOR
Tax-exempt · PHILADELPHIA, PA 19147
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $209,350 | $209,711 | -$361 | $122,043 | $10,706 | $111,337 |
| December 31, 2024 | 990-EZ | $81,678 | $199,772 | -$118,094 | $116,125 | $4,427 | $111,698 |
| December 31, 2023 | 990-EZ | $104,525 | $151,931 | -$47,406 | $238,777 | $8,985 | $229,792 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $195,815
- of which government grants
- $125,000
- Program service revenue
- $13,509
- Investment income
- $26
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $101,629
- Salaries, compensation and benefits (total)
- $116,089
- Professional fundraising fees
- $0
- Accounting fees
- $4,449
- Occupancy
- $27,675
- Depreciation
- $3,398
- Program services (functional)
- $143,047
- Management and general (functional)
- $66,664
Balance sheet and other
- Total assets, start of year
- $116,125
- Total assets, end of year
- $122,043
- Total liabilities, end of year
- $10,706
- Net assets, end of year
- $111,337
- Land, buildings and equipment
- $26,205
- Net assets without donor restrictions
- $111,337
- Gross receipts
- $209,350
- Employees
- 1
- Year formed
- 2011
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Elissa Bloom | Executive Director Emeritus Highest-paid employee | 40 | $109,589 | $6,500 |
| Conrad Booker | Director Trustee or director | 2 | $0 | $0 |
| Erik Seel | DirectorPresident Trustee or director, Officer | 2 | $0 | $0 |
| Michelle Shannon | Director Trustee or director | 2 | $0 | $0 |
| Mindy Solkin | Director Trustee or director | 2 | $0 | $0 |
| Bridget Battles | Director Trustee or director | 2 | $0 | $0 |
| MarySheila McDonald | Director Trustee or director | 2 | $0 | $0 |
| Paula Angelucci | Director Trustee or director | 2 | $0 | $0 |
| Hope Jidenma | Director Trustee or director | 2 | $0 | $0 |
990-EZ for the year ended December 31, 2024: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Elissa Bloom | Executive Director | 40 | $97,700 | $4,050 |
| Conrad Booker | Director | 2 | $0 | $0 |
| Earl Boyd | Director | 2 | $0 | $0 |
| Aliza Karetnick | Director | 2 | $0 | $0 |
| Vickie Rotante | Director | 2 | $0 | $0 |
| Erik Seel | Director | 2 | $0 | $0 |
| Michelle Shannon | Director | 2 | $0 | $0 |
| Mindy Solkin | Director | 2 | $0 | $0 |
| Anne Millman | Director | 2 | $0 | $0 |
990-EZ for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CONRAD BOOKER | DIRECTOR | 2 | $0 |
| EARL BOYD | DIRECTOR | 2 | $0 |
| ALIZA KARETNICK | DIRECTOR | 2 | $0 |
| VICKIE ROTANTE | DIRECTOR | 2 | $0 |
| ERIK SEEL | BOARD CHAIR | 2 | $0 |
| MICHELLE SHANNON | DIRECTOR | 2 | $0 |
| MINDY SOLKIN | DIRECTOR | 2 | $0 |
| ANNE MILLMAN | DIRECTOR | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 706 S 4TH ST, PHILADELPHIA, PA 19147-3102
- In care of
- % ERIK SEEL
- Principal officer (990 for 2025)
- Erik Seel, 505 Ridgeway Drive, Hockessin, DE 19707
- Signed the 990
- ERIK SEEL, Executive Director
- Phone
- (215) 241-9000
- Return prepared by
- Jonathan Furlow CPA
Mission
The purpose of the incubator is to provide opportunities for education, support, and promote emerging fashion designers and the fashion community in the Philadelphia area.
Program accomplishments
- the Philadelphia Fashion Incubator is a twelve month residency program featuring six annually selected designers in residence (DIR). The DIR have access to office and design work space, business curriculum, mentoring, and other important resources, in an effort to help them launch and further grow their companies in the City of Philadelphia.Expenses $143,047 · revenue $84,324
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 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 45-2561701
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2012
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $122,043
- Income (IRS master file)
- $209,350
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $209,350 | $209,711 | $122,043 | XML |
| 990-EZ | December 2024 | $81,678 | $199,772 | $116,125 | XML |
| 990-EZ | December 2023 | $104,525 | $151,931 | $238,777 | XML |
| 990 | December 2022 | $73,610 | $155,866 | $280,416 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 45-2561701).
Questions about THE PHILADELPHIA FASHION INCUBATOR
- What is the EIN of THE PHILADELPHIA FASHION INCUBATOR?
- The employer identification number (EIN) of THE PHILADELPHIA FASHION INCUBATOR is 45-2561701.
- Is THE PHILADELPHIA FASHION INCUBATOR tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2012.
- Are donations to THE PHILADELPHIA FASHION INCUBATOR tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE PHILADELPHIA FASHION INCUBATOR 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 PHILADELPHIA FASHION INCUBATOR due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE PHILADELPHIA FASHION INCUBATOR last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of THE PHILADELPHIA FASHION INCUBATOR?
- The 990 for the year ended December 31, 2025 names Erik Seel.
- Who are the officers and directors of THE PHILADELPHIA FASHION INCUBATOR?
- The 990 for the year ended December 31, 2025 lists 9 people; 1 received compensation from the organization, the highest $109,589 (Elissa Bloom, Executive Director Emeritus).
- How much revenue does THE PHILADELPHIA FASHION INCUBATOR have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $209,350, expenses of $209,711 and total assets of $122,043 at year end.
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