Civic Intelligence

Finanta

990 • Fiscal year 2020 • EIN 23-2857766

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 28, 2021

Organization ProfileN/A
1301 North 2nd StreetPhiladelphia, PA 19122

(215) 426-3882

Siviq Scores

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

Liabilities / Assets

49th percentile

0.25x

Higher debt load relative to assets than 49% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

1.70x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

16th percentile

$123,533

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

54th percentile

8.5%

Faster asset growth than 54% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

31st percentile

-5.3%

Faster revenue growth than 31% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$26,712,102

Up $2,097,821 (+8.5%) from 2019

Net Assets

Up

$19,959,644

Up $1,782,838 (+9.8%) from 2019

Liabilities

Up

$6,752,458

Up $314,983 (+4.9%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin90th percentile

Revenue

Down

$3,961,565

Down $219,960 (-5.3%) from 2019

Expenses

Up

$2,169,711

Up $431,628 (+25%) from 2019

Net Income

Down

$1,791,854

Down $651,588 (-27%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$30M$20M$10M$0Assets 2011: $9,248,542Liabilities 2011: $1,713,231Net Assets 2011: $7,535,3112011Assets 2012: $10,713,342Liabilities 2012: $2,454,818Net Assets 2012: $8,258,5242012Assets 2013: $12,738,562Liabilities 2013: $3,728,774Net Assets 2013: $9,009,7882013Assets 2014: $13,482,043Liabilities 2014: $3,728,735Net Assets 2014: $9,753,3082014Assets 2015: $13,788,093Liabilities 2015: $3,324,728Net Assets 2015: $10,463,3652015Assets 2016: $16,320,494Liabilities 2016: $4,905,347Net Assets 2016: $11,415,1472016Assets 2017: $20,342,831Liabilities 2017: $8,497,350Net Assets 2017: $11,845,4812017Assets 2018: $22,351,549Liabilities 2018: $6,618,185Net Assets 2018: $15,733,3642018Assets 2019: $24,614,281Liabilities 2019: $6,437,475Net Assets 2019: $18,176,8062019Assets 2020: $26,712,102Liabilities 2020: $6,752,458Net Assets 2020: $19,959,6442020

Highlighted filing

2020

Assets$26,712,102
Liabilities$6,752,458
Net Assets$19,959,644
Open 2020 Filing

Operations Trend

Revenue Growth31st percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $675,174Expenses 2011: $792,927Net Income 2011: -$117,7532011Expenses 2012: $1,404,4352012Expenses 2013: $1,063,5312013Revenue 2014: $1,940,991Expenses 2014: $1,197,471Net Income 2014: $743,5202014Revenue 2015: $1,408,398Expenses 2015: $1,398,341Net Income 2015: $10,0572015Revenue 2016: $2,892,237Expenses 2016: $1,940,455Net Income 2016: $951,7822016Revenue 2017: $1,795,171Expenses 2017: $1,364,837Net Income 2017: $430,3342017Revenue 2018: $5,662,941Expenses 2018: $1,775,058Net Income 2018: $3,887,8832018Revenue 2019: $4,181,525Expenses 2019: $1,738,083Net Income 2019: $2,443,4422019Revenue 2020: $3,961,565Expenses 2020: $2,169,711Net Income 2020: $1,791,8542020

Highlighted filing

2020

Revenue$3,961,565
Expenses$2,169,711
Net Income$1,791,854
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 28, 2021
Return Version
2019v5.1
Gross Receipts
$3,961,565
Mission and Program Overview

Mission

A non-profit lending institution facilitating access to capital and consultation services to entrepreneurs, first-time homebuyers, and consumers in the delaware valley region.

Finanta is a nonprofit lending institution facilitating access to capital and consultation services to entrepreneurs, first-time homebuyers and consumers in the delaware valley region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$13,310,226$15,969,124▲ $2,658,898
Savings and Temporary Cash Investments$5,233,201$4,595,813▼ $637,388
Cash and Non-Interest-Bearing Accounts$2,323,207$3,063,424▲ $740,217
Land, Buildings, and Equipment, Net$2,433,410$2,431,858▼ $1,552
Pledges and Grants Receivable$1,297,603$616,756▼ $680,847
Prepaid Expenses and Deferred Charges$16,634$35,127▲ $18,493
Total Assets$24,614,281$26,712,102▲ $2,097,821
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,843,156$6,277,810▲ $434,654
Other Liabilities$474,048$426,587▼ $47,461
Accounts Payable and Accrued Expenses$120,271$48,061▼ $72,210
Total Liabilities$6,437,475$6,752,458▲ $314,983
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,336,296$15,217,088▲ $1,880,792
Net Assets With Donor Restrictions$4,840,510$4,742,556▼ $97,954
Total Net Assets Fund Balance$18,176,806$19,959,644▲ $1,782,838
Total Liabilities and Net Assets / Fund Balance$24,614,281$26,712,102▲ $2,097,821

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,057,321$251,895$2,309,216
Land$353,419-$353,419
Equipment$21,118$216,810$237,928
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Luis MoraPresidentFT$108,568$14,965$123,533

Board Members and Trustees

NameTitle
Allen LamboyBoard Chair
Vince TsengBoard Vice Chair
Antonio PelosiDirector
Corinne Samler Brennan EsqDirector
Lenin AgudoDirector
Natalia Dominguez-buckleyDirector
Robin LincolnDirector
Rosa MontijoSecretary
Lawrence MccomieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,007,929
Program Service Revenue
$932,855
Investment Income
$20,781
Other Revenue
$0
All Other Contributions
$1,553,073
Change in Net Assets
$1,791,854

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,952,549
Revenue Not Reported on Form 990
$9,016
Total Revenue per Audited Statements
$3,961,565
Total Revenue per Form 990
$3,952,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,474,939
Other Expenses$694,772
Total Fundraising Expense$55,398
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$701,755$314,219$31,422$1,047,396
Current Officers, Directors, Trustees, and Key Employees$118,845$53,214$5,321$177,380
Other Employee Benefits$107,013$47,920$4,793$159,726
Interest$94,314$0$0$94,314
Payroll Taxes$60,591$27,131$2,715$90,437
Office Expenses$28,654$12,831$1,285$42,770
Depreciation Depletion$24,196$10,835$1,085$36,116
Fees for Services Other$12,220$7,424$4,133$23,777
Conferences and Meetings$15,442$6,900$689$23,031
Insurance$13,074$5,854$585$19,513
Fees for Services Accounting$15,000$0$0$15,000
Occupancy$6,104$2,733$273$9,110
Travel$3,893$1,744$174$5,811
Other Expenses$5,289$0$0$5,289
Advertising$2,799$1,271$130$4,200
Fees for Services Legal$0$1,849$0$1,849
All Other Expenses$671$301$30$1,002
Total Functional Expenses$1,592,364$521,949$55,398$2,169,711

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,169,711
Total Expenses per Audited Statements$2,169,711
Total Expenses per Form 990$2,169,711
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Escrow Payable$343,066
Contract Advances Payable$81,806
Tenant Security Deposits$1,715
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
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
Finanta
EIN
23-2857766
Phone
2154263882
Address
1301 NORTH 2ND STREET, PHILADELPHIA, PA 19122

Signing Officer

Name
Anthony T Pappion
Title
CFO
Phone
2154263882
Signed
2021-01-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luis Mora
Formed
1996
Legal Domicile
Pa
Voting Board Members
10
Independent Board Members
9
Employees
23
Volunteers
0

Preparer

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

Additional Explanations

Pt VI, Line 11B

“The organization's board of directors and president review the 990 together to verify the amounts reported agree with the organization's audited financial statements for the year and all questions are answered accuratley. In addition, an independent audit committee also reviews the 990 and the organization's audited financial statements for the year.”

Pt VI, Line 12C

“The board completes an annual questionnaire.”

Pt VI, Line 15A

“The president's compensation is approved by the board.”

Pt VI, Line 19

“The organization's governing documents and financial statemetns are available to the public in the organization's office upon request.”

Pt XII, Line 2C

“The board of directors oversees the audit.”

Financial Statement Notes

Pt X, Line 2

“The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, the organization 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. The organization 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. The organization'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, 2020.”

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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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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,712,102
Liabilities
$6,752,458
Net assets
$19,959,644
Revenue
$3,961,565
Expenses
$2,169,711
Net income
$1,791,854
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$26.7$6.75$20.0$3.96$2.17$1.79
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.6$6.44$18.2$4.18$1.74$2.44
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.4$6.62$15.7$5.66$1.78$3.89
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.3$8.50$11.8$1.80$1.36$0.43
2016Detailed filing. Detailed filing data is available for this year.$16.3$4.91$11.4$2.89$1.94$0.95
2015Detailed filing. Detailed filing data is available for this year.$13.8$3.32$10.5$1.41$1.40$0.01
2014Detailed filing. Detailed filing data is available for this year.$13.5$3.73$9.75$1.94$1.20$0.74
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$3.73$9.01$1.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$2.45$8.26$1.40
2011Summary only. Only limited summary data is available for this year.$9.25$1.71$7.54$0.68$0.79$0.12
Peer Organizations

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