Civic Intelligence

Vestedin

990 • Fiscal year 2024 • EIN 23-2855262

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 21, 2025

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

54th percentile

0.15x

Higher debt load relative to assets than 54% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

80th percentile

0.72x

Higher debt load relative to revenue than 80% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

4th percentile

-83%

Higher net margin than 4% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

59th percentile

$151,772

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

7th percentile

-15%

Faster asset growth than 7% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-24%

Faster revenue growth than 11% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets54th percentile

Assets

Down

$6,877,654

Down $1,216,421 (-15%) from 2023

Net Assets

Down

$5,850,515

Down $1,190,219 (-17%) from 2023

Liabilities

Down

$1,027,139

Down $26,202 (-2.5%) from 2023

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin4th percentile

Revenue

Down

$1,428,855

Down $459,606 (-24%) from 2023

Expenses

Up

$2,619,074

Up $587,522 (+29%) from 2023

Net Income

Down

-$1,190,219

Down $1,047,128 (-732%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2024

Assets$6,877,654
Liabilities$1,027,139
Net Assets$5,850,515
Open 2024 Filing

Operations Trend

Revenue Growth11th 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

2024

Revenue$1,428,855
Expenses$2,619,074
Net Income-$1,190,219
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 21, 2025
Return Version
2023v6.0
Gross Receipts
$1,467,791
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,756,393$2,293,495▼ $462,898
Savings and Temporary Cash Investments$1,282,017$1,314,692▲ $32,675
Other Notes and Loans Receivable, Net$1,020,913$483,512▼ $537,401
Accounts Receivable$324,050$155,233▼ $168,817
Land, Buildings, and Equipment, Net$51,861$109,377▲ $57,516
Investments Other Securities$73,008$73,958▲ $950
Prepaid Expenses and Deferred Charges$11,847$14,309▲ $2,462
Total Assets$8,094,075$6,877,654▼ $1,216,421
Other Assets Total$2,573,986$2,433,078▼ $140,908
Liabilities
Mortgage Notes Payable Secured by Investment Property$567,206$541,627▼ $25,579
Other Liabilities$390,123$383,669▼ $6,454
Accounts Payable and Accrued Expenses$96,012$101,843▲ $5,831
Total Liabilities$1,053,341$1,027,139▼ $26,202
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,226,710$5,123,270▼ $103,440
Net Assets With Donor Restrictions$1,814,024$727,245▼ $1,086,779
Total Net Assets Fund Balance$7,040,734$5,850,515▼ $1,190,219
Total Liabilities and Net Assets / Fund Balance$8,094,075$6,877,654▼ $1,216,421

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$65,502$85,211$150,713
Buildings$43,875$18,240$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 Pay59th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James R BurnettExecutive DirectorFT$117,511$34,261$151,772
James R Burnett--$117,511$34,261$151,772

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

Highest Paid Contractors

ContractorServicesLocationCompensation
Black Squirrel Collaborative INCProfessional Servics3401 MARKET STREET, Philadelphia, PA 19104$241,533
Revenue and Support

Revenue Composition

Contributions and Grants
$819,987
Program Service Revenue
$585,056
Investment Income
$11,751
Other Revenue
$12,061
All Other Contributions
$438,987
Change in Net Assets
$-1,190,219

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,428,855
Revenue Not Reported on Form 990
$36,968
Total Revenue per Audited Statements
$1,465,823
Total Revenue per Form 990
$1,428,855
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,836,894
Salaries, Compensation, and Employee Benefits$782,180
Total Fundraising Expense$24,077
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$471,473$44,000$0$515,473
Current Officers, Directors, Trustees, and Key Employees$86,238$47,012$0$133,250
Fees for Services Accounting$61,357$36,134$0$97,491
Occupancy$56,050$33,439$0$89,489
Other Employee Benefits$56,642$21,548$0$78,190
Fees for Services Other$45,036$25,721$0$70,757
Payroll Taxes$43,771$11,496$0$55,267
Advertising$1,384$50,289$1,465$53,138
Conferences and Meetings$6,251$19,796$22,612$48,659
All Other Expenses$20,028$15,700$0$35,728
Insurance$8,935$5,778$0$14,713
Travel$0$13,407$0$13,407
Fees for Services Legal$4,076$8,035$0$12,111
Depreciation Depletion$0$4,744$0$4,744
Office Expenses$160$4,487$0$4,647
Other Expenses$4,015$0$0$4,015
Total Functional Expenses$2,253,411$341,586$24,077$2,619,074

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,656,042
Expenses per Audited Statements$2,619,074
Total Expenses per Form 990$2,619,074
Expenses Not Reported on Form 990$36,968
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$50,997
Fundraising Direct Expenses$38,936
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraising Breakfast$31,860$31,860-$31,860
Annual Founders Day$19,137$19,137-$19,137
Total Events$50,997$50,997$38,936$12,061
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$7,678
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
2025-02-21
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
16
Volunteers
105

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 organizations governing documents, financial”

Pt VI, Line 19

“Statements, and conflict of interest policy are”

Pt VI, Line 19

“Available to the public in the organizations 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

“Vestedins 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, 2024.”

Raw XML AppendixShowing 400 of 614 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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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,877,654
Liabilities
$1,027,139
Net assets
$5,850,515
Revenue
$1,428,855
Expenses
$2,619,074
Net income
-$1,190,219
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