Frederick A Simeone M D Foundation Inc
- Assets
- $106.5m
- Revenue
- $33.6m
- Investments
- $102.6m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 04/1998
- Data as of
- 12/2023
- EIN
- 22-3483147
Organization Overview
Frederick A Simeone M D Foundation Inc is located in Philadelphia, PA. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frederick A Simeone M D Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Frederick A Simeone M D Foundation Inc generated $33.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 38.2% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A MUSEUM TO PROMOTE THE PUBLIC AWARENESS, APPRECIATION AND ENJOYMENT OF SPORTS-RELATED AUTOMOBILES BY (1) PROVIDING INFORMATION AND EXHIBITS SETTING FORTH THE HISTORY OF THE AUTOMOTIVE INDUSTRY, AUTOMOBILE DEVELOPMENT AND SPORTS-RACING (2) PROVIDING INFORMATION AND EXHIBITS CONCERNING THE PHYSICAL, MECHANICAL, ENGINEERING, MATHEMATICAL AND OTHER SCIENTIFIC FIELDS INVOLVED IN THE DEVELOPMENT AND DESIGN OF AUTOMOBILES (3)DISPLAYING THE FINEST SPORTS-RACING AUTOMOBILES FOR THE EDUCATION OF THE PUBLIC RELATING TO THEIR HISTORICAL, ENGINEERING AND ARTISTIC ATTRIBUTES, (4) PROVIDING A LIBRARY OF BOOKS, REFERENCE MATERIALS AND OTHER MULTI-MEDIA RELATING TO THE HISTORY, DESIGN, ENGINEERING AND EXPERIENCE OF AUTOMOBILES AND AUTO RACING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Kelly Director | 40 | $146,875 | |
Robert Dusek Chairman | 10 | $0 | |
David Panichi Director | 5 | $0 | |
Christina Simeone Director | 5 | $0 | |
Rupert Banner Director | 5 | $0 | |
Amanda Jimenez Administrator | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $29,884,319 |
| Interest on Savings | $0 |
| Dividends & Interest | $966,305 |
| Net Rental Income | $49,517 |
| Net Gain on Sale of Assets | $2,371,307 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $43,200 |
| Other Income | $249,577 |
| Total Revenue | $33,564,225 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $146,875 |
| Other employee salaries and wages | $279,787 |
| Pension plans, employee benefits | $37,421 |
| Interest | $2,326 |
| Taxes | $74,789 |
| Depreciation | $143,275 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $5,463 |
| Printing and publications | $3,549 |
| Other expenses | $425,754 |
| Total operating and administrative expenses | $1,251,797 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,251,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $207,619 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $35,927 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $28,546,534 |
| Net Land, buildings, and equipment | $3,627,520 |
| Other assets | $0 |
| Total assets | $106,475,973 |
| Accounts payable and accrued expenses | $10,919 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $125,000 |
| Other liabilities | $8,780 |
| Total liabilities | $144,699 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frederick A Simeone M D Foundation Inc Philadelphia, PA | $106,475,973 | $33,564,225 |
Williams Grove Old Timers Mechanicsburg, PA | $1,765,058 | $228,400 |
Jack Nicklaus Museum Inc Columbus, OH | $27,144,206 | $0 |
Lake Placid Olympic Museum Lake Placid, NY | $2,775,855 | $52,081 |
New Jersey Boxing Hall Of Fame Inc Lodi, NJ | $61,113 | $0 |