— in expenses

As it has in the past, the philadelphia foundation established and sustains this type 1 supporting organization to receive illiquid, hard-to-value contributions (e.g. Real estate or privately held stock) or those which may create unique potential liabilities or which may be given for a distinct charitable purpose that can be better served and stewarded through a dedicated organizational structure. Board meetings are held annually. The organization did not have any activity during the filing period.