Civic Intelligence

Vestedin

990 • Fiscal year 2022 • EIN 23-2855262

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 13, 2023

Organization Profilewww.vestedin.org.
3675 Market StreetPhiladelphia, PA 19104

(215) 452-0100

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

41st percentile

0.07x

Higher debt load relative to assets than 41% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

65th percentile

0.31x

Higher debt load relative to revenue than 65% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

63rd percentile

14%

Higher net margin than 63% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

56th percentile

$135,698

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

45th percentile

-0.8%

Faster asset growth than 45% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-44%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$7,760,084

Down $61,975 (-0.8%) from 2021

Net Assets

Up

$7,183,825

Up $155,476 (+2.2%) from 2021

Liabilities

Down

$576,259

Down $217,451 (-27%) from 2021

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin63rd percentile

Revenue

Down

$1,842,886

Down $1,439,738 (-44%) from 2021

Expenses

Down

$1,579,248

Down $181,571 (-10%) from 2021

Net Income

Down

$263,638

Down $1,258,167 (-83%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $8,408,254Liabilities 2011: $181,972Net Assets 2011: $8,226,2822011Assets 2012: $8,181,994Liabilities 2012: $214,148Net Assets 2012: $7,967,8462012Assets 2013: $8,009,322Liabilities 2013: $49,458Net Assets 2013: $7,959,8642013Assets 2014: $7,535,580Liabilities 2014: $41,133Net Assets 2014: $7,494,4472014Assets 2015: $7,394,488Liabilities 2015: $82,253Net Assets 2015: $7,312,2352015Assets 2016: $7,453,332Liabilities 2016: $280,735Net Assets 2016: $7,172,5972016Assets 2017: $7,145,167Liabilities 2017: $552,408Net Assets 2017: $6,592,7592017Assets 2018: $6,522,645Liabilities 2018: $586,501Net Assets 2018: $5,936,1442018Assets 2019: $6,318,974Liabilities 2019: $535,492Net Assets 2019: $5,783,4822019Assets 2020: $6,177,150Liabilities 2020: $670,606Net Assets 2020: $5,506,5442020Assets 2021: $7,822,059Liabilities 2021: $793,710Net Assets 2021: $7,028,3492021Assets 2022: $7,760,084Liabilities 2022: $576,259Net Assets 2022: $7,183,8252022Assets 2023: $8,094,075Liabilities 2023: $1,053,341Net Assets 2023: $7,040,7342023Assets 2024: $6,877,654Liabilities 2024: $1,027,139Net Assets 2024: $5,850,5152024Assets 2025: $6,132,490Liabilities 2025: $1,146,780Net Assets 2025: $4,985,7102025

Highlighted filing

2022

Assets$7,760,084
Liabilities$576,259
Net Assets$7,183,825
Open 2022 Filing

Operations Trend

Revenue Growth9th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2011: $29,164Expenses 2011: $384,474Net Income 2011: -$355,3102011Expenses 2012: $312,8242012Expenses 2013: $428,0602013Revenue 2014: $132,336Expenses 2014: $597,753Net Income 2014: -$465,4172014Revenue 2015: $750,197Expenses 2015: $932,409Net Income 2015: -$182,2122015Revenue 2016: $546,208Expenses 2016: $685,846Net Income 2016: -$139,6382016Revenue 2017: $251,586Expenses 2017: $831,424Net Income 2017: -$579,8382017Revenue 2018: $199,854Expenses 2018: $856,469Net Income 2018: -$656,6152018Revenue 2019: $611,337Expenses 2019: $763,999Net Income 2019: -$152,6622019Revenue 2020: $600,097Expenses 2020: $877,035Net Income 2020: -$276,9382020Revenue 2021: $3,282,624Expenses 2021: $1,760,819Net Income 2021: $1,521,8052021Revenue 2022: $1,842,886Expenses 2022: $1,579,248Net Income 2022: $263,6382022Revenue 2023: $1,888,461Expenses 2023: $2,031,552Net Income 2023: -$143,0912023Revenue 2024: $1,428,855Expenses 2024: $2,619,074Net Income 2024: -$1,190,2192024Revenue 2025: $1,262,353Expenses 2025: $2,127,158Net Income 2025: -$864,8052025

Highlighted filing

2022

Revenue$1,842,886
Expenses$1,579,248
Net Income$263,638
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 13, 2023
Return Version
2021v4.1
Gross Receipts
$1,861,792
Mission and Program Overview

Mission

Vestedins mission is to facilitate economic empowerment to small businesses & the community and increased employment opportunities in the philadelphia area.

Vestedin's mission is to facilitate economic empowerment to small businesses & the community and increased employment opportunities in the philadelphia area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,042,175$1,964,101▼ $78,074
Savings and Temporary Cash Investments$1,745,590$1,742,505▼ $3,085
Other Notes and Loans Receivable, Net$678,791$786,461▲ $107,670
Accounts Receivable$163,162$601,550▲ $438,388
Investments in Publicly Traded Securities$72,851$72,892▲ $41
Land, Buildings, and Equipment, Net$59,109$55,190▼ $3,919
Prepaid Expenses and Deferred Charges$9,438$12,081▲ $2,643
Total Assets$7,822,059$7,760,084▼ $61,975
Other Assets Total$3,050,943$2,525,304▼ $525,639
Liabilities
Other Liabilities$387,194$387,259▲ $65
Mortgage Notes Payable Secured by Investment Property$152,522$116,599▼ $35,923
Accounts Payable and Accrued Expenses$253,994$72,401▼ $181,593
Total Liabilities$793,710$576,259▼ $217,451
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,456,531$5,433,922▼ $22,609
Net Assets With Donor Restrictions$1,571,818$1,749,903▲ $178,085
Total Net Assets Fund Balance$7,028,349$7,183,825▲ $155,476
Total Liabilities and Net Assets / Fund Balance$7,822,059$7,760,084▼ $61,975

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,714$79,599$86,313
Buildings$48,476$13,639$62,115
Other Land Buildings$0$40,494$40,494
Leasehold Improvements$0$12,249$12,249
Other Assets Org$183,678--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James R BurnettExecutive DirectorFT$107,018$28,680$135,698

Board Members and Trustees

NameTitle
Fred AlstonChairman
Alan WilsonBoard Member
Andre AndrewsBoard Member
Cierrah West-williamsBoard Member
Darryl RidgewayBoard Member
Ismail ShahidBoard Member
Kimberly ReedBoard Member
Malcolm YatesBoard Member
Michael RoepelBoard Member
Naja MuhammadBoard Member
Robyn ChinBoard Member
Vanessa WilliamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,512,515
Program Service Revenue
$321,682
Investment Income
$288
Other Revenue
$8,401
All Other Contributions
$412,515
Change in Net Assets
$263,638

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,842,886
Total Revenue per Audited Statements
$1,842,886
Total Revenue per Form 990
$1,842,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,097,616
Salaries, Compensation, and Employee Benefits$481,632
Total Fundraising Expense$12,555
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$278,857$8,315$3,037$290,209
Current Officers, Directors, Trustees, and Key Employees$80,971$15,650$5,398$102,019
Fees for Services Other$68,695$28,019$0$96,714
Occupancy$54,760$14,005$0$68,765
Fees for Services Accounting$48,485$16,535$0$65,020
Other Employee Benefits$49,022$4,936$2,694$56,652
Advertising$31,300$23,178$432$54,910
All Other Expenses$21,668$19,620$0$41,288
Payroll Taxes$27,781$3,977$994$32,752
Insurance$14,504$5,950$0$20,454
Conferences and Meetings$2,487$11,917$0$14,404
Other Expenses$5,716$0$0$5,716
Depreciation Depletion$0$5,454$0$5,454
Office Expenses$60$4,837$0$4,897
Travel$228$2,697$0$2,925
Total Functional Expenses$1,401,603$165,090$12,555$1,579,248

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,579,248
Total Expenses per Audited Statements$1,579,248
Total Expenses per Form 990$1,579,248
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$27,307
Fundraising Direct Expenses$18,906
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$373,193
Funds Held for Other Entities$11,268
Other Liabilities$2,798
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Vestedin
EIN
23-2855262
Phone
2154520100
Address
3675 MARKET STREET, PHILADELPHIA, PA 19104

Signing Officer

Name
James R Burnett
Title
Executive Director
Phone
2154520100
Signed
2023-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Burnett
Formed
1996
Legal Domicile
Pa
Voting Board Members
12
Independent Board Members
12
Employees
12
Volunteers
19

Preparer

Firm
Ruotolo Spewak & Co
Address
101 CHESTNUT AVE, MOUNT LAUREL, NJ 08054
Preparer
Dustin B Ward CPA Mba
Phone
8562731282
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The president and treasurer review the 990”

Pt VI, Line 12C

“The conflict of interest statement is reviewed and”

Pt VI, Line 12C

“Discussed on a regular basis w/staff and board members”

Pt VI, Line 15A

“Compensation for top official in the org. Is determined”

Pt VI, Line 15A

“By the board of directors. The board uses information”

Pt VI, Line 15A

“From the irs and other jurisdictions to determine”

Pt VI, Line 15A

“COMPENSATION.”

Pt VI, Line 15B

“Compensation of key employees is approved by the board”

Pt VI, Line 19

“The organization's governing documents, financial”

Pt VI, Line 19

“Statements, and conflict of interest policy are”

Pt VI, Line 19

“Available to the public in the organization's office”

Pt VI, Line 19

“UPON REQUEST”

Financial Statement Notes

Pt X, Line 2

“Vestedin is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, vestedin qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). Accordingly, no provision for income taxes is provided. Vestedin has reviewed tax positions taken in filings with federal and state jurisdictions and believes those positions would be sustained should the filings be examined by the relevant taxing authority. For federal income tax purposes, the returns remain open for possible examination three years after they are filed.”

Pt X, Line 2

“Vestedin's policy is to recognize interest and penalties on unrecognized tax benefits in other expense in the statement of activities. No interest and penalties were recorded during the year ended june 30, 2022.”

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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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IRS990/Desc0PROVIDES ECONOMIC EMPOWERMENT TO SMALL BUSINESSES & THE COMMUNITY AND INCREASED EMPLOYMENT OPPORTUNITIES IN THE PHILADELPHIA AREA. PROVIDES CAPITAL, TECHNICAL ASSISTANCE AND FINANCIAL SERVICES AS AN INNOVATIVE RESPONSE TO A LOW-INCOME COMMUNITY HISTORICALLY UNDER SERVED BY TRADITIONAL FINANCIAL INSTITUTIONS. VESTEDIN ALSO OPERATES A PROGRAM FOR HIGH SCHOOL STUDENTS TO PROVIDE INSIGHT INTO FINANCIAL EDUCATION, COLLEGE PLANNING AND CAREER PLANNING.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
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IRS990/OtherExpensesGrp/Desc1WESGOLD FELLOWS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
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IRS990/OtherExpensesGrp/ProgramServicesAmt137138
IRS990/OtherExpensesGrp/ProgramServicesAmt229952
IRS990/OtherExpensesGrp/ProgramServicesAmt35716
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IRS990/PayrollTaxesGrp/FundraisingAmt0994
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0JAMES BURNETT
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IRS990/ProgramServiceRevenueGrp/Desc0INVESTMENT INCOME FROM JOINT VENTURE
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2INTEREST INCOME - LOANS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt179034
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02502891
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-11684
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IRS990/PYTotalRevenueAmt03282624
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0263638
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RevenueAmt0321682
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0346733
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0458826
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt060951
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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,760,084
Liabilities
$576,259
Net assets
$7,183,825
Revenue
$1,842,886
Expenses
$1,579,248
Net income
$263,638
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.13$1.15$4.99$1.26$2.13$0.86
2024Detailed filing. Detailed filing data is available for this year.$6.88$1.03$5.85$1.43$2.62$1.19
2023Detailed filing. Detailed filing data is available for this year.$8.09$1.05$7.04$1.89$2.03$0.14
2022Detailed filing. Detailed filing data is available for this year.$7.76$0.58$7.18$1.84$1.58$0.26
2021Detailed filing. Detailed filing data is available for this year.$7.82$0.79$7.03$3.28$1.76$1.52
2020Summary only. Only limited summary data is available for this year.$6.18$0.67$5.51$0.60$0.88$0.28
2019Detailed filing. Detailed filing data is available for this year.$6.32$0.54$5.78$0.61$0.76$0.15
2018Detailed filing. Detailed filing data is available for this year.$6.52$0.59$5.94$0.20$0.86$0.66
2017Detailed filing. Detailed filing data is available for this year.$7.15$0.55$6.59$0.25$0.83$0.58
2016Detailed filing. Detailed filing data is available for this year.$7.45$0.28$7.17$0.55$0.69$0.14
2015Detailed filing. Detailed filing data is available for this year.$7.39$0.08$7.31$0.75$0.93$0.18
2014Detailed filing. Detailed filing data is available for this year.$7.54$0.04$7.49$0.13$0.60$0.47
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.01$0.05$7.96$0.43
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.18$0.21$7.97$0.31
2011Summary only. Only limited summary data is available for this year.$8.41$0.18$8.23$0.03$0.38$0.36