Civic Intelligence

Vestedin

990 • Fiscal year 2023 • EIN 23-2855262

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 06, 2024

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

50th percentile

0.13x

Higher debt load relative to assets than 50% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

0.56x

Higher debt load relative to revenue than 75% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

24th percentile

-7.6%

Higher net margin than 24% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

52nd percentile

$129,952

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

46th percentile

4.3%

Faster asset growth than 46% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

2.5%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$8,094,075

Up $333,991 (+4.3%) from 2022

Net Assets

Down

$7,040,734

Down $143,091 (-2.0%) from 2022

Liabilities

Up

$1,053,341

Up $477,082 (+83%) from 2022

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin24th percentile

Revenue

Up

$1,888,461

Up $45,575 (+2.5%) from 2022

Expenses

Up

$2,031,552

Up $452,304 (+29%) from 2022

Net Income

Down

-$143,091

Down $406,729 (-154%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth46th 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

2023

Assets$8,094,075
Liabilities$1,053,341
Net Assets$7,040,734
Open 2023 Filing

Operations Trend

Revenue Growth43rd 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

2023

Revenue$1,888,461
Expenses$2,031,552
Net Income-$143,091
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 6, 2024
Return Version
2022v5.0
Gross Receipts
$1,924,224
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$1,964,101$2,756,393▲ $792,292
Savings and Temporary Cash Investments$1,742,505$1,282,017▼ $460,488
Other Notes and Loans Receivable, Net$786,461$1,020,913▲ $234,452
Accounts Receivable$601,550$324,050▼ $277,500
Investments in Publicly Traded Securities$72,892$73,008▲ $116
Land, Buildings, and Equipment, Net$55,190$51,861▼ $3,329
Prepaid Expenses and Deferred Charges$12,081$11,847▼ $234
Total Assets$7,760,084$8,094,075▲ $333,991
Other Assets Total$2,525,304$2,573,986▲ $48,682
Liabilities
Mortgage Notes Payable Secured by Investment Property$116,599$567,206▲ $450,607
Other Liabilities$387,259$390,123▲ $2,864
Accounts Payable and Accrued Expenses$72,401$96,012▲ $23,611
Total Liabilities$576,259$1,053,341▲ $477,082
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,433,922$5,226,710▼ $207,212
Net Assets With Donor Restrictions$1,749,903$1,814,024▲ $64,121
Total Net Assets Fund Balance$7,183,825$7,040,734▼ $143,091
Total Liabilities and Net Assets / Fund Balance$7,760,084$8,094,075▲ $333,991

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,685$82,768$88,453
Buildings$46,176$15,939$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 Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James R BurnettExecutive DirectorFT$103,102$26,850$129,952

Board Members and Trustees

NameTitle
Ismail ShahidChairman
Robyn ChinVice Chairman
Alan WilsonBoard Member
Andre AndrewsBoard Member
Cierrah West-williamsBoard Member
Darryl RidgewayBoard Member
Jacqueline LopezBoard Member
Kimberly ReedBoard Member
Vanessa WilliamsBoard Member
Malcolm YatesSecretary
Naja MuhammadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,411,641
Program Service Revenue
$450,471
Investment Income
$8,982
Other Revenue
$17,367
All Other Contributions
$779,376
Change in Net Assets
$-143,091

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,888,461
Total Revenue per Audited Statements
$1,888,461
Total Revenue per Form 990
$1,888,461
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,378,100
Salaries, Compensation, and Employee Benefits$653,452
Total Fundraising Expense$39,258
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$385,575$31,720$6,028$423,323
Current Officers, Directors, Trustees, and Key Employees$77,678$36,339$6,001$120,018
Occupancy$56,973$30,726$0$87,699
Fees for Services Accounting$46,385$35,925$0$82,310
Fees for Services Other$50,136$21,185$2,971$74,292
Other Employee Benefits$60,131$6,639$0$66,770
Advertising$29,380$33,384$1,295$64,059
All Other Expenses$19,636$29,918$0$49,554
Conferences and Meetings$6,278$15,734$21,747$43,759
Payroll Taxes$31,277$10,848$1,216$43,341
Travel$16,549$15,113$0$31,662
Insurance$14,042$8,565$0$22,607
Other Expenses$7,419$0$0$7,419
Depreciation Depletion$0$5,469$0$5,469
Office Expenses$330$2,855$0$3,185
Total Functional Expenses$1,707,874$284,420$39,258$2,031,552

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,031,552
Total Expenses per Audited Statements$2,031,552
Total Expenses per Form 990$2,031,552
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$53,130
Fundraising Direct Expenses$35,763
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraising Breakfast$31,972$31,972-$31,972
Annual Founders Day$21,158$21,158-$21,158
Total Events$53,130$53,130$35,763$17,367
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$14,132
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
2024-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Burnett
Formed
1996
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
11
Employees
13
Volunteers
30

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, 2023.”

Raw XML AppendixShowing 400 of 581 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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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/TitleTxt2VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,094,075
Liabilities
$1,053,341
Net assets
$7,040,734
Revenue
$1,888,461
Expenses
$2,031,552
Net income
-$143,091
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • $5M-$10M nonprofits