The American Bible Society has about 270 employees and about 200 volunteers worldwide, according to a 2012 financial report. That year, the society had a $9 million deficit on a $92 million operating budget. Its total assets, not including its building, are valued at $491 million, according to its 990 filing from 2012.
The American Bible Society will give up its tony Broadway address for one in Philadelphia’s historic district.
The society, which has had its headquarters in New York City for 199 years and has operations all over the world, will relocate to 401 Market St., steps from Independence Mall.
Mayor Nutter will announce the nonprofit’s move, which will bring more than 200 jobs to the city, at a news conference Wednesday.
The society’s primary mission is to engage more people with the Bible. It also is responsible for a worldwide Christian ministry and has a goal of translating the Bible into every language. So far, it has produced from 750 to 1,000 translations, and it plans to translate into an additional 1,800 of the world’s 7,000 languages.
In an interview Tuesday, American Bible Society CEO Roy Peterson said that while it was a “real heart-wrenching decision to leave New York,” it was the right decision for his staff.
Living in New York on a nonprofit salary is tough, he said.
“People can afford to live here [in Philadelphia], it’s walkable, there’s public transportation,” Peterson said. “Our staff commutes an hour or two . . . from Long Island, the Bronx.”