Civic Intelligence

Economic Opportunities Fund

990 • Fiscal year 2017 • EIN 23-2998893

Oct 01, 2016 to Sep 30, 2017 • Filed on Jul 30, 2018

Organization ProfileWWW.WORC-PA.COM
2010 Chestnut StreetPhiladephia, PA 19103

(215) 564-5500

Siviq Scores

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

Liabilities / Assets

49th percentile

0.09x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

66th percentile

0.23x

Higher debt load relative to revenue than 66% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

72nd percentile

14%

Higher net margin than 72% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

40th percentile

$31,069

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

64th percentile

8.4%

Faster asset growth than 64% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

13th percentile

-21%

Faster revenue growth than 13% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$1,487,776

Up $115,102 (+8.4%) from 2016

Net Assets

Up

$1,360,454

Up $75,701 (+5.9%) from 2016

Liabilities

Up

$127,322

Up $39,401 (+45%) from 2016

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin72nd percentile

Revenue

Down

$542,260

Down $139,876 (-21%) from 2016

Expenses

Up

$466,559

Up $57,965 (+14%) from 2016

Net Income

Down

$75,701

Down $197,841 (-72%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $814,624Liabilities 2011: $62,247Net Assets 2011: $752,3772011Assets 2012: $768,427Liabilities 2012: $25,580Net Assets 2012: $742,8472012Assets 2013: $1,202,607Liabilities 2013: $16,065Net Assets 2013: $1,186,5422013Assets 2014: $1,078,324Liabilities 2014: $47,794Net Assets 2014: $1,030,5302014Assets 2015: $1,047,170Liabilities 2015: $35,970Net Assets 2015: $1,011,2002015Assets 2016: $1,372,674Liabilities 2016: $87,921Net Assets 2016: $1,284,7532016Assets 2017: $1,487,776Liabilities 2017: $127,322Net Assets 2017: $1,360,4542017Assets 2018: $1,348,764Liabilities 2018: $63,697Net Assets 2018: $1,285,0672018Assets 2019: $1,304,190Liabilities 2019: $18,931Net Assets 2019: $1,285,2592019Assets 2020: $2,855,372Liabilities 2020: $482,574Net Assets 2020: $2,372,7982020Assets 2021: $3,900,859Liabilities 2021: $633,447Net Assets 2021: $3,267,4122021Assets 2022: $3,199,559Liabilities 2022: $168,249Net Assets 2022: $3,031,3102022Assets 2023: $3,641,729Liabilities 2023: $282,853Net Assets 2023: $3,358,8762023Assets 2024: $3,564,553Liabilities 2024: $183,450Net Assets 2024: $3,381,1032024

Highlighted filing

2017

Assets$1,487,776
Liabilities$127,322
Net Assets$1,360,454
Open 2017 Filing

Operations Trend

Revenue Growth13th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $93,128Expenses 2011: $284,191Net Income 2011: -$191,0632011Revenue 2012: $306,272Expenses 2012: $315,802Net Income 2012: -$9,5302012Revenue 2013: $734,081Expenses 2013: $290,386Net Income 2013: $443,6952013Revenue 2014: $152,442Expenses 2014: $305,289Net Income 2014: -$152,8472014Revenue 2015: $316,227Expenses 2015: $335,557Net Income 2015: -$19,3302015Revenue 2016: $682,136Expenses 2016: $408,594Net Income 2016: $273,5422016Revenue 2017: $542,260Expenses 2017: $466,559Net Income 2017: $75,7012017Revenue 2018: $320,761Expenses 2018: $396,148Net Income 2018: -$75,3872018Revenue 2019: $392,301Expenses 2019: $392,109Net Income 2019: $1922019Revenue 2020: $1,641,347Expenses 2020: $553,810Net Income 2020: $1,087,5372020Revenue 2021: $1,369,907Expenses 2021: $475,291Net Income 2021: $894,6162021Revenue 2022: $308,534Expenses 2022: $544,636Net Income 2022: -$236,1022022Revenue 2023: $1,077,528Expenses 2023: $749,962Net Income 2023: $327,5662023Revenue 2024: $230,345Expenses 2024: $208,118Net Income 2024: $22,2272024

Highlighted filing

2017

Revenue$542,260
Expenses$466,559
Net Income$75,701
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Jul 30, 2018
Return Version
2016v3.1
Gross Receipts
$542,260
Mission and Program Overview

Mission

The organization provides access to financial services and capital to low income and underserved populations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$339,441$517,416▲ $177,975
Other Notes and Loans Receivable, Net$357,300$476,186▲ $118,886
Accounts Receivable$438,478$358,080▼ $80,398
Cash and Non-Interest-Bearing Accounts$235,161$133,117▼ $102,044
Prepaid Expenses and Deferred Charges$1,186$1,869▲ $683
Investments in Publicly Traded Securities$1,108$1,108→ $0
Total Assets$1,372,674$1,487,776▲ $115,102
Liabilities
Other Liabilities$82,008$116,523▲ $34,515
Accounts Payable and Accrued Expenses$5,913$8,655▲ $2,742
Deferred Revenue-$2,144-
Total Liabilities$87,921$127,322▲ $39,401
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,217,797$1,293,409▲ $75,612
Unrestricted Net Assets$66,956$67,045▲ $89
Total Net Assets Fund Balance$1,284,753$1,360,454▲ $75,701
Total Liabilities and Net Assets / Fund Balance$1,372,674$1,487,776▲ $115,102

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$2,403$2,403
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lynne CutlerExecutive DiPT$31,069$31,069

Board Members and Trustees

NameTitle
Hamida ShirazyPresident
Donna AllieDirector
Katya NoriekaDirector
Larkin ConnollyDirector
Nicole PumphreyDirector
Jennifer LeithSecretary
Victoria QuinnVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$410,200
Program Service Revenue
$101,232
Investment Income
$30,828
Other Revenue
$0
All Other Contributions
$7,500
Change in Net Assets
$75,701

Audited Revenue Reconciliation

Revenue per Audited Statements
$542,260
Total Revenue per Audited Statements
$542,260
Total Revenue per Form 990
$542,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$248,806
Salaries, Compensation, and Employee Benefits$217,753
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$148,759$6,488-$155,247
Payroll Taxes$31,392$45-$31,437
Current Officers, Directors, Trustees, and Key Employees$31,069--$31,069
Fees for Services Other$22,227--$22,227
Occupancy$6,959$11,694-$18,653
Office Expenses-$11,371-$11,371
Conferences and Meetings$8,817--$8,817
Insurance-$5,565-$5,565
Fees for Services Accounting$2,434$2,434-$4,868
Travel$3,454--$3,454
All Other Expenses$3,297--$3,297
Other Expenses$26,086$3,275-$3,275
Interest$2,710--$2,710
Fees for Services Legal$2,314--$2,314
Total Functional Expenses$425,687$40,872$0$466,559

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$466,559
Total Expenses per Audited Statements$466,559
Total Expenses per Form 990$466,559
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
Due to Affiliate$116,523
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A copy of form 990 is provided to the board prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors reviews performance and determines compensation for key employees.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Economic Opportunities Fund
EIN
23-2998893
Phone
2155645500
Address
2010 CHESTNUT STREET, PHILADEPHIA, PA 19103

Signing Officer

Name
Lynne Cutler
Title
Executive Director
Phone
2155645500
Signed
2018-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lynne Cutler
Formed
1999
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Bassman Laserow Adelman & Weiss Pc
Address
630 SENTRY PKWY STE 200, BLUE BELL, PA 19422-2325
Preparer
Craig J Firestone CPA
Phone
2156280420
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The organization provides micro-loans to low income and underserved populations in the philadelphia area.”

Form 990, Page 5, Part V, Line 3B

“There were no activities subject to reporting on form 990-t.”

Raw XML Appendix384 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/ReconcilationRevenueExpnssAmt075701
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0339441
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0517416
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 113,800
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0410200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0538392
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0948592
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt030828
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt029944
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt060772
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0101232
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0113800
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0215032
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.77470
IRS990ScheduleA/PublicSupportPY170Pct00.78930
IRS990ScheduleA/PublicSupportTotal170Amt0948592
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0410200
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0538392
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0948592
IRS990ScheduleA/TotalSupportAmt01224396
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0466559
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02403
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02403
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0116523
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/RevenueSubtotalAmt0542260
IRS990ScheduleD/TotalExpensesPerForm990Amt0466559
IRS990ScheduleD/TotalLiabilityAmt0116523
IRS990ScheduleD/TotalRevenuePerForm990Amt0542260
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0542260
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0466559
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES MICRO-LOANS TO LOW INCOME AND UNDERSERVED POPULATIONS IN THE PHILADELPHIA AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE WERE NO ACTIVITIES SUBJECT TO REPORTING ON FORM 990-T.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS PERFORMANCE AND DETERMINES COMPENSATION FOR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01217797
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01293409
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01372674
IRS990/TotalAssetsEOYAmt01487776
IRS990/TotalAssetsGrp/BOYAmt01372674
IRS990/TotalAssetsGrp/EOYAmt01487776
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0410200
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040872
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0425687
IRS990/TotalFunctionalExpensesGrp/TotalAmt0466559
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt087921
IRS990/TotalLiabilitiesEOYAmt0127322
IRS990/TotalLiabilitiesGrp/BOYAmt087921
IRS990/TotalLiabilitiesGrp/EOYAmt0127322
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01284753
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01360454
IRS990/TotalOtherProgSrvcExpenseAmt031069
IRS990/TotalProgramServiceExpensesAmt0425687
IRS990/TotalProgramServiceRevenueAmt0101232
IRS990/TotalReportableCompFromOrgAmt031069
IRS990/TotalRevenueGrp/ExclusionAmt0132060
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0542260
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01372674
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01487776
IRS990/TravelGrp/ProgramServicesAmt03454
IRS990/TravelGrp/TotalAmt03454
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt066956
IRS990/UnrestrictedNetAssetsGrp/EOYAmt067045
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.WORC-PA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LYNNE CUTLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02155645500
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ECONOMIC OPPORTUNITIES FUND
ReturnHeader/Filer/BusinessNameControlTxt0ECON
ReturnHeader/Filer/EIN0232998893
ReturnHeader/Filer/PhoneNum02155645500
ReturnHeader/Filer/USAddress/AddressLine1Txt02010 CHESTNUT STREET
ReturnHeader/Filer/USAddress/CityNm0PHILADEPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019103
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D3BE8F6E94D67AD00BB131EBCB4C469028935A7B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D3BE8F6E94D67AD00BB131EBCB4C469028935A7B
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0232088272
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BASSMAN LASEROW ADELMAN & WEISS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0630 SENTRY PKWY STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BLUE BELL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0194222325
ReturnHeader/PreparerPersonGrp/PhoneNum02156280420
ReturnHeader/PreparerPersonGrp/PreparationDt02018-08-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRAIG J FIRESTONE CPA
ReturnHeader/ReturnTs02018-08-01T14:15:50-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-10-01
ReturnHeader/TaxPeriodEndDt02017-09-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,487,776
Liabilities
$127,322
Net assets
$1,360,454
Revenue
$542,260
Expenses
$466,559
Net income
$75,701
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.56$0.18$3.38$0.23$0.21$0.02
2023Detailed filing. Detailed filing data is available for this year.$3.64$0.28$3.36$1.08$0.75$0.33
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.20$0.17$3.03$0.31$0.54$0.24
2021Detailed filing. Detailed filing data is available for this year.$3.90$0.63$3.27$1.37$0.48$0.89
2020Detailed filing. Detailed filing data is available for this year.$2.86$0.48$2.37$1.64$0.55$1.09
2019Detailed filing. Detailed filing data is available for this year.$1.30$0.02$1.29$0.39$0.39$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.35$0.06$1.29$0.32$0.40$0.08
2017Detailed filing. Detailed filing data is available for this year.$1.49$0.13$1.36$0.54$0.47$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.37$0.09$1.28$0.68$0.41$0.27
2015Detailed filing. Detailed filing data is available for this year.$1.05$0.04$1.01$0.32$0.34$0.02
2014Summary only. Only limited summary data is available for this year.$1.08$0.05$1.03$0.15$0.31$0.15
2013Summary only. Only limited summary data is available for this year.$1.20$0.02$1.19$0.73$0.29$0.44
2012Summary only. Only limited summary data is available for this year.$0.77$0.03$0.74$0.31$0.32$0.01
2011Summary only. Only limited summary data is available for this year.$0.81$0.06$0.75$0.09$0.28$0.19