Liabilities / Assets
86th percentile
Higher debt load relative to assets than 86% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.37x
Liabilities / Revenue
92nd percentile
Higher debt load relative to revenue than 92% of similar nonprofits.
Net Margin
77th percentile
Higher net margin than 77% of similar nonprofits.
Top Officer Pay
77th percentile
Higher top officer pay than 77% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
36th percentile
Faster asset growth than 36% of similar nonprofits.
Revenue Growth
28th percentile
Faster revenue growth than 28% of similar nonprofits.
Balance Sheet
Assets
Down$113,385
Down $5,019 (-4.2%) from 2016
Net Assets
Up$71,983
Up $18,261 (+34%) from 2016
Liabilities
Down$41,402
Down $23,280 (-36%) from 2016
Revenue And Expenses
Revenue
Down$82,602
Down $11,172 (-12%) from 2016
Expenses
Down$64,341
Down $10,811 (-14%) from 2016
Net Income
Down$18,261
Down $361 (-1.9%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Apr 1, 2016 to Mar 31, 2017
- Signed
- Jan 14, 2019
- Return Version
- 2016v3.0
- Gross Receipts
- $82,602
Mission and Program Overview
Mission
Credit inc's primary function is to facilitate capital and financial services for organizations, minority and female entrepreneurs and other businesses that, due to their location in a distressed or low-income community, are not adequately served by mainstream financial institutions, thereby enabling them to succeed and thrive.
Program Services
| Description | Grants | Expenses |
|---|---|---|
| CREDIT, INC FACILITATES CAPITAL AND FINANCIAL SERVICES FOR LOW-INCOME COMMUNITY RESIDENTS, ORGANIZATIONS, AND OTHER BUSINESSES. | $0 | $27,812 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| AYCA ERGENEMAN | Vice Chairman | - | $0 | - | - |
| CHRISTIE ALCID | CFO | - | $0 | - | - |
| JEAN SMITH | Member | - | $0 | - | - |
| NATHANIEL MONTGOMERY | Secretary | - | $0 | - | - |
| NEIL PARISER | Member | - | $0 | - | - |
| PHILLIP MORROW | Chairman/President | - | $0 | - | - |
| KAREN MCGUINNESS | Treasurer | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- CREDIT Inc
- EIN
- 13-3790222
- Phone
- 7182923113
- Address
- 555 Bergen Avenue 3RD FLOOR, NEW YORK, NY 10455
Signing Officer
- Name
- Steven Brown
- Title
- President/CEO
- Phone
- 7182923113
- Signed
- 2019-01-14
- Discuss with paid preparer
- Yes
Preparer
- Firm
- Tidwell Group LLC
- Address
- 2001 PARK PLACE NORTH SUITE 900, BIRMINGHAM, AL 35203
- Preparer
- Joel T Mcdowell
- Phone
- 2058221010
Supplemental Narrative
Additional Explanations
Form 990-EZ, Part I, Line 4 - Other Investment Income
“Description: INTEREST INCOME. Amount: 682.”
Form 990-EZ, Part I, Line 8 - Other Revenue
“Description: other income. Amount: 13,320. Description: CONTRIBUTION FROM AFFILIATE. Amount: 8,600. Total to Form 990-EZ, line 8: 21,920.”
Form 990-EZ, Part I, Line 16 - Other Expenses
“Description: EQUIPMENT RENTAL AND MAINTENANCE. Amount: 375. Description: INTEREST. Amount: 760. Description: ADMINISTRATIVE EXPENSES. Amount: 4,670. Description: BAD DEBT. Amount: 25,315. Total to Form 990-EZ, line 16: 31,120.”
FORM 990-EZ, PART 1, LINE 14, OCCUPANCY, RENT, UTILITIES, AND MAINTENANCE:
“Depreciation 1,836. Other expenses 3,842. Total to form 990-ez, line 14 5,678.”
Form 990-EZ, Part II, Line 24 - Other Assets
“Description: DUE FROM RELATED ORGANIZATIONS. Beg. of Year Amount: 41,044. End of Year Amount: 83,816. Description: LOAN RECEIVABLE. Beg. of Year Amount: 41,485. End of Year Amount: 6,062. Description: GOVERNMENT CONTRACT RECEIVABLE. Beg. of Year Amount: 3,000. End of Year Amount: 0. Description: OTHER DEPRECIABLE ASSETS. Beg. of Year Amount: 12,315. End of Year Amount: 10,479.”
Form 990-EZ, Part II, Line 26 - Other Liabilities
“Description: ACCOUNTS PAYABLE. Beg. of Year Amount: 5,518. End of Year Amount: 10,025. Description: LOAN PAYABLE. Beg. of Year Amount: 59,164. End of Year Amount: 31,377.”
AMENDED RETURN: EXPLANATION OF CHANGES
“THIS RETURN WAS ORGINALLY FILED BEFORE THE AUDIT WAS COMPLETED. THIS RETURN IS BEING AMENDED TO CORRECTLY REPORT INVESTMENT INCOME, OTHER REVENUE, AND EXCESS (DEFICIT) FOR THE YEAR. Additionally, all supplemental schedules have been updated to agree with all of the below enumerated changes from the originally filed return. AS ORIGINALLY FILED: PAGE 1, PART I, LINE 4, INVESTMENT INCOME: 0 PAGE 1, PART I, LINE 8, OTHER REVENUE: 0 PAGE 1, PART I, LINE 18, EXCESS FOR THE YEAR: 4,941 AS AMENDED: PAGE 1, PART I, LINE 4, INVESTMENT INCOME: 682 PAGE 1, PART I, LINE 8, OTHER REVENUE: 21,920 PAGE 1, PART I, LINE 18, EXCESS FOR THE YEAR: 18,261”
Raw XML Appendix206 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 4 | MEMBER |
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| IRS990EZ/OperateHospitalInd | 0 | 0 |
| IRS990EZ/Organization501c3Ind | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | 0 |
| IRS990EZ/OrganizationHadUBIInd | 0 | 0 |
| IRS990EZ/OtherAssetsTotalDetail/BOYAmt | 0 | 97844 |
| IRS990EZ/OtherAssetsTotalDetail/EOYAmt | 0 | 100357 |
| IRS990EZ/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 31120 |
| IRS990EZ/OtherRevenueTotalAmt | 0 | 21920 |
| IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt | 0 | NONE |
| IRS990EZ/PartVIOfCompOfHghstPdEmplTxt | 0 | NONE |
| IRS990EZ/PoliticalCampaignActyInd | 0 | 0 |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | CREDIT INC'S PRIMARY FUNCTION IS TO FACILITATE CAPITAL AND FINANCIAL SERVICES FOR ORGANIZATIONS, MINORITY AND FEMALE ENTREPRENEURS AND OTHER BUSINESSES THAT, DUE TO THEIR LOCATION IN A DISTRESSED OR LOW-INCOME COMMUNITY, ARE NOT ADEQUATELY SERVED BY MAINSTREAM FINANCIAL INSTITUTIONS, THEREBY ENABLING THEM TO SUCCEED AND THRIVE. |
| IRS990EZ/PrintingPublicationsPostageAmt | 0 | 1126 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | CREDIT, INC FACILITATES CAPITAL AND FINANCIAL SERVICES FOR LOW-INCOME COMMUNITY RESIDENTS, ORGANIZATIONS, AND OTHER BUSINESSES. |
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| IRS990EZ/TanningServicesProvidedInd | 0 | 0 |
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| IRS990EZ/TaxImposedUnderIRC4911Amt | 0 | 0 |
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| IRS990EZ/WebsiteAddressTxt | 0 | WWW.SOBRO.ORG |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | MISCELLANEOUS INCOME 2012 AMOUNT: $600 2016 AMOUNT: $13,320 CONTRIBUTION FROM AFFILLIATE: 2016 AMOUNT: $8,600 FORGIVENESS OF DEBT 2014 AMOUNT: $57,813 2015 AMOUNT: $0 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 1 | THE ORGANIZATION IS IN THE PROCESS OF STARTING UP AGAIN AND IS REDIVERSIFYING ITS CONTRIBUTIONS. THE PARENT ORGANIZATION, SOUTH BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION, A PUBLICLY SUPPORTED 501(C)(3), HAS PLEDGED TO DONATE THE AMOUNTS NECESSARY TO MAINTAIN THE 33% THRESHOLD. |
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| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 1 | PART II, SECTION C, LINE 17A, FACTS AND CIRCUMSTANCES TEST |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Description: INTEREST INCOME. Amount: 682. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Description: other income. Amount: 13,320. Description: CONTRIBUTION FROM AFFILIATE. Amount: 8,600. Total to Form 990-EZ, line 8: 21,920. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Description: EQUIPMENT RENTAL AND MAINTENANCE. Amount: 375. Description: INTEREST. Amount: 760. Description: ADMINISTRATIVE EXPENSES. Amount: 4,670. Description: BAD DEBT. Amount: 25,315. Total to Form 990-EZ, line 16: 31,120. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | DEPRECIATION 1,836. OTHER EXPENSES 3,842. TOTAL TO FORM 990-EZ, LINE 14 5,678. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Description: DUE FROM RELATED ORGANIZATIONS. Beg. of Year Amount: 41,044. End of Year Amount: 83,816. Description: LOAN RECEIVABLE. Beg. of Year Amount: 41,485. End of Year Amount: 6,062. Description: GOVERNMENT CONTRACT RECEIVABLE. Beg. of Year Amount: 3,000. End of Year Amount: 0. Description: OTHER DEPRECIABLE ASSETS. Beg. of Year Amount: 12,315. End of Year Amount: 10,479. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | Description: ACCOUNTS PAYABLE. Beg. of Year Amount: 5,518. End of Year Amount: 10,025. Description: LOAN PAYABLE. Beg. of Year Amount: 59,164. End of Year Amount: 31,377. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THIS RETURN WAS ORGINALLY FILED BEFORE THE AUDIT WAS COMPLETED. THIS RETURN IS BEING AMENDED TO CORRECTLY REPORT INVESTMENT INCOME, OTHER REVENUE, AND EXCESS (DEFICIT) FOR THE YEAR. Additionally, all supplemental schedules have been updated to agree with all of the below enumerated changes from the originally filed return. AS ORIGINALLY FILED: PAGE 1, PART I, LINE 4, INVESTMENT INCOME: 0 PAGE 1, PART I, LINE 8, OTHER REVENUE: 0 PAGE 1, PART I, LINE 18, EXCESS FOR THE YEAR: 4,941 AS AMENDED: PAGE 1, PART I, LINE 4, INVESTMENT INCOME: 682 PAGE 1, PART I, LINE 8, OTHER REVENUE: 21,920 PAGE 1, PART I, LINE 18, EXCESS FOR THE YEAR: 18,261 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990-EZ, Part I, Line 4 - Other Investment Income |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990-EZ, Part I, Line 8 - Other Revenue |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990-EZ, Part I, Line 16 - Other Expenses |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990-EZ, PART 1, LINE 14, OCCUPANCY, RENT, UTILITIES, AND MAINTENANCE: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990-EZ, Part II, Line 24 - Other Assets |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990-EZ, Part II, Line 26 - Other Liabilities |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | AMENDED RETURN: EXPLANATION OF CHANGES |
| TransferPrsnlBnftContractsDecl/DeclarationDesc | 0 | The organization did not, during the year, receive any funds, directly,or indirectly, to pay premiums on a personal benefit contract.The organization, did not, during the year, pay any premiums, directly,or indirectly, on a personal benefit contract. |
| ReturnHeader/BuildTS | 0 | 2019-02-21 02:37:17Z |
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| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2019-01-14 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | JOEL T MCDOWELL |
| ReturnHeader/ReturnTs | 0 | 2019-02-13T11:24:46-06:00 |
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| ReturnHeader/TaxPeriodBeginDt | 0 | 2016-04-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2017-03-31 |
| ReturnHeader/TaxYr | 0 | 2016 |
Document Assets
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Filings
Displayed year
2017 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $113,385
- Liabilities
- $41,402
- Net assets
- $71,983
- Revenue
- $82,602
- Expenses
- $64,341
- Net income
- $18,261