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Philly Races Inc

EIN 47-2298932 · Philadelphia, PA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood80 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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).

Income
$3.2 million
Spending
$2.8 million
Spent on programs
97%
Reserves
3.3 months of spending
Largest source of income
fees for its services, 86%
Employees
0
Volunteers
3,000

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 80 out of 100. Higher than 56% of charities in its peer group (recreation and sports, $1m to $10m).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.3 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 13% of income.

  • Income trend

    10 of 15

    Income fell 2% on the year before.

  • Spending floor

    15 of 15

    97% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 76% of charities in its peer group (recreation and sports, $1m to $10m).

  • Independent board

    18 of 25

    4 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $2.6 million spent. 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.
  2. $65,350 spent. 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.
  3. $21,365 spent. 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.
  4. $18,197 spent. PHILADELPHIA MARATHON

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since March 2017.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.