Nonprofit · EIN 47-2298932
PHILLY RACES INC
Tax-exempt · PHILADELPHIA, PA 19102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,202,658 | $2,789,830 | $412,828 | $2,320,232 | $0 | $2,320,232 |
| December 31, 2023 | 990 | $3,262,623 | $2,463,960 | $798,663 | $2,207,404 | $0 | $2,207,404 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $440,000
- Program service revenue
- $2,757,921
- Investment income
- $4,737
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $25,980
- Accounting fees
- $43,820
- Depreciation
- $44,339
- Program services (functional)
- $2,692,256
- Management and general (functional)
- $97,574
Balance sheet and other
- Total assets, start of year
- $2,207,404
- Total assets, end of year
- $2,320,232
- Total liabilities, end of year
- $0
- Net assets, end of year
- $2,320,232
- Land, buildings and equipment
- $22,603
- Publicly traded securities
- $2,139,182
- Net assets without donor restrictions
- $787,273
- Net assets with donor restrictions
- $1,532,959
- Gross receipts
- $3,202,658
- Employees
- 0
- Volunteers
- 3,000
- Year formed
- 2014
- 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 |
|---|---|---|---|
| ANDREW W KIM | CHAIRMAN, TREASURER Trustee or director, Officer | 1 | $0 |
| LAUREN KOBYLARZ | SECRETARY Trustee or director, Officer | 1 | $0 |
| KAREN CAMPBELL | BOARD MEMBER Trustee or director | – | $0 |
| BARBARA MCKEEVER | BOARD MEMBER Trustee or director | – | $0 |
| DAVID THOMAS | BOARD MEMBER Trustee or director | – | $0 |
| SUSAN BUCK | PARKS DIRECTOR Trustee or director | – | $0 |
| PETER MOONEY | DIRECTOR EMERITUS Trustee or director | – | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PETER MOONEY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| CAROL B RICE | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| ANDREW KIM | TREASURER Trustee or director, Officer | 1 | $0 |
| LAUREN KOBYLARZ | SECRETARY Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1515 ARCH ST, PHILADELPHIA, PA 19102-1501
- In care of
- % LEO DIGNAM
- Mailing address (990-N for 2014)
- C/O LEO DIGNAM 1515 ARCH STREET, PHILADELPHIA PA 19102
- Principal officer (990 for 2024)
- ANDREW W KIM, C/O THE ORGANIZATION 1515 ARCH STRE, PHILADELPHIA, PA 19102
- Principal officer (990-N for 2014)
- LEO DIGNAM, C/O LEO DIGNAM 1515 ARCH STREET, PHILADELPHIA PA 19102
- Signed the 990
- ANDREW KIM, CHAIR
- Phone
- (215) 808-7361
- Return prepared by
- JOHN E MCGOVERN & ASSOCIATES PC
Mission
PHILLY RACES, INC. IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, AND SPECIFICALLY TO BE A COLLABORATIVE ADVOCATE FOR THE CITY OF PHILADELPHIA PARKS AND RECREATION DEPARTMENT (PPR).
Program accomplishments
- PHILLY RACES, INC. OPERATED THE BROAD STREET RUN FOR PHILADELPHIA PARKS AND RECREATION (PPR). THE BLUE CROSS BROAD STREET RUN IS MANAGED BY THE PPR WITH THE COOPERATION OF CITY AGENCIES AND MORE THAN 90 VOLUNTEER GROUPS, AND IT IS THE NATIONS LARGEST 10 MILE RACE.Expenses $2,587,344 · revenue $2,690,718
- PHIL UNITY CUP IS A CITY-WIDE SOCCER TOURNAMENT THAT USES THE UNIVERSAL LANGUAGE OF SPORT TO BRING PEOPLE TOGETHER AND SHOWCASE PHILADELPHIA RICH CULTURAL DIVERSITY. THIS PROGRAM WAS CREATED BY MAYOR JIM KENNEDY WITH THE SUPPORT OF PPR.Expenses $65,350
- THE MUMMERS PARADE IS A CITY OF PHILADELPHIA SPONSORED PARADE HELD ACH NEW YEARS DAY. IT IS ONE OF THE OLDEST FOLK FESTIVALS IN THE UNITED STATES. PHILLY RACES, INC. CONTRIBUTED RESOURCES FOR THE EVENT.Expenses $21,365
- PHILADELPHIA MARATHONExpenses $18,197
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
- 47-2298932
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2017
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N11)
- Assets (IRS master file)
- $2,320,232
- Income (IRS master file)
- $3,202,658
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,202,658 | $2,789,830 | $2,320,232 | IRS |
| 990 | December 2023 | $3,262,623 | $2,463,960 | $2,207,404 | XML |
| 990 | December 2022 | $2,504,992 | $2,481,417 | $1,408,741 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
| 990-N for 2014 Officer: LEO DIGNAM | December 31, 2014 | ≤ $50,000 receipts | – | – | e-Postcard |
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 47-2298932).
Questions about PHILLY RACES INC
- What is the EIN of PHILLY RACES INC?
- The employer identification number (EIN) of PHILLY RACES INC is 47-2298932.
- Is PHILLY RACES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
- Are donations to PHILLY RACES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PHILLY RACES INC 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 PHILLY RACES INC 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 PHILLY RACES INC 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 PHILLY RACES INC?
- The 990 for the year ended December 31, 2024 names ANDREW W KIM.
- Who are the officers and directors of PHILLY RACES INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does PHILLY RACES INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,202,658, expenses of $2,789,830 and total assets of $2,320,232 at year end.
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