Civic Intelligence

Progress Trust Inc.

990 • Fiscal year 2015 • EIN 23-3017662

Jul 01, 2014 to Jun 30, 2015 • Filed on May 12, 2016

Organization ProfileN/A
1501 N Broad StreetPhiladelphia, PA 19122

(215) 232-7070

Siviq Scores

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

Liabilities / Assets

86th percentile

0.82x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

10.20x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

8th percentile

-26%

Higher net margin than 8% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

13th percentile

$42,000

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

78th percentile

12%

Faster asset growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

11th percentile

-26%

Faster revenue growth than 11% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$11,185,628

Up $1,161,437 (+12%) from 2014

Net Assets

Up

$2,018,222

Up $752,974 (+60%) from 2014

Liabilities

Up

$9,167,406

Up $408,463 (+4.7%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin8th percentile

Revenue

Down

$898,369

Down $309,839 (-26%) from 2014

Expenses

Down

$1,130,066

Down $142,153 (-11%) from 2014

Net Income

Down

-$231,697

Down $167,686 (-262%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$15M$10M$5.0M$0Assets 2011: $11,908,166Liabilities 2011: $8,395,389Net Assets 2011: $3,512,7772011Assets 2012: $10,182,754Liabilities 2012: $8,580,535Net Assets 2012: $1,602,2192012Assets 2013: $9,940,911Liabilities 2013: $8,611,652Net Assets 2013: $1,329,2592013Assets 2014: $10,024,191Liabilities 2014: $8,758,943Net Assets 2014: $1,265,2482014Assets 2015: $11,185,628Liabilities 2015: $9,167,406Net Assets 2015: $2,018,2222015Assets 2016: $10,808,910Liabilities 2016: $8,999,000Net Assets 2016: $1,809,9102016Assets 2017: $10,731,272Liabilities 2017: $8,800,692Net Assets 2017: $1,930,5802017Assets 2018: $9,965,972Liabilities 2018: $8,682,466Net Assets 2018: $1,283,5062018Assets 2019: $9,814,603Liabilities 2019: $8,538,239Net Assets 2019: $1,276,3642019Assets 2020: $9,631,781Liabilities 2020: $8,150,508Net Assets 2020: $1,481,2732020Assets 2021: $9,386,361Liabilities 2021: $8,147,847Net Assets 2021: $1,238,5142021Assets 2022: $9,144,018Liabilities 2022: $7,113,164Net Assets 2022: $2,030,8542022Assets 2023: $8,790,247Liabilities 2023: $7,443,134Net Assets 2023: $1,347,1132023Assets 2024: $8,504,906Liabilities 2024: $7,482,652Net Assets 2024: $1,022,2542024Assets 2025: $8,486,299Liabilities 2025: $7,168,144Net Assets 2025: $1,318,1552025

Highlighted filing

2015

Assets$11,185,628
Liabilities$9,167,406
Net Assets$2,018,222
Open 2015 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $696,906Expenses 2011: $824,516Net Income 2011: -$127,6102011Expenses 2012: $1,097,2812012Expenses 2013: $1,098,5332013Revenue 2014: $1,208,208Expenses 2014: $1,272,219Net Income 2014: -$64,0112014Revenue 2015: $898,369Expenses 2015: $1,130,066Net Income 2015: -$231,6972015Revenue 2016: $754,308Expenses 2016: $984,736Net Income 2016: -$230,4282016Revenue 2017: $968,462Expenses 2017: $882,786Net Income 2017: $85,6762017Revenue 2018: $435,107Expenses 2018: $624,562Net Income 2018: -$189,4552018Revenue 2019: $991,122Expenses 2019: $1,034,073Net Income 2019: -$42,9512019Revenue 2020: $948,379Expenses 2020: $741,485Net Income 2020: $206,8942020Revenue 2021: $948,909Expenses 2021: $1,023,066Net Income 2021: -$74,1572021Revenue 2022: $961,086Expenses 2022: $935,912Net Income 2022: $25,1742022Revenue 2023: $1,205,829Expenses 2023: $1,046,134Net Income 2023: $159,6952023Revenue 2024: $766,630Expenses 2024: $882,319Net Income 2024: -$115,6892024Revenue 2025: $1,001,338Expenses 2025: $1,026,129Net Income 2025: -$24,7912025

Highlighted filing

2015

Revenue$898,369
Expenses$1,130,066
Net Income-$231,697
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 12, 2016
Return Version
2014v6.0
Gross Receipts
$1,203,348
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,505,577$10,437,498▲ $931,921
Cash and Non-Interest-Bearing Accounts$340,906$365,070▲ $24,164
Accounts Receivable$145,408$357,239▲ $211,831
Prepaid Expenses and Deferred Charges$32,300$25,821▼ $6,479
Total Assets$10,024,191$11,185,628▲ $1,161,437
Liabilities
Other Liabilities$8,734,924$8,900,738▲ $165,814
Accounts Payable and Accrued Expenses$24,019$266,668▲ $242,649
Total Liabilities$8,758,943$9,167,406▲ $408,463
Net Assets / Fund Balance
Unrestricted Net Assets$1,265,248$2,018,222▲ $752,974
Total Net Assets Fund Balance$1,265,248$2,018,222▲ $752,974
Total Liabilities and Net Assets / Fund Balance$10,024,191$11,185,628▲ $1,161,437

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$10,437,498$1,628,953$12,066,451
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wendell R WhitlockChairmanPT$42,000$42,000
Anita CampbellExecutive AdministratorPT$30,000$30,000
Cynthina FullenwellenBoard Member-$24,784$24,784
Lawrence SpruelTreasurerPT$9,000$9,000
Daryl DebrestFacilities ManagerPT$5,000$5,000

Board Members and Trustees

NameTitle
Jewell Antoine-johnsonBoard Member
Kerri Conner-matchettBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$3,403
Program Service Revenue
$0
Investment Income
$230
Other Revenue
$894,736
Change in Net Assets
$-231,697
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,049,066
Salaries, Compensation, and Employee Benefits$81,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$448,071$0$0$448,071
Depreciation Depletion$0$279,843$0$279,843
All Other Expenses$4,175$81,486$0$85,661
Current Officers, Directors, Trustees, and Key Employees$0$81,000$0$81,000
Fees for Services Accounting$0$72,960$0$72,960
Fees for Services Legal$0$60,856$0$60,856
Fees for Services Other$9,513$28,188$0$37,701
Office Expenses$0$26,069$0$26,069
Insurance$0$15,967$0$15,967
Occupancy$0$5,559$0$5,559
Conferences and Meetings$0$2,810$0$2,810
Other Expenses$0$891$0$891
Travel$0$530$0$530
Advertising$355$0$0$355
Total Functional Expenses$465,094$664,972$0$1,130,066
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
Notes Payable$8,629,485
Real Estate Tax Liability$154,223
Loan from PIA$63,778
Security deposits$52,106
Deferred Revenue$9,641
Customer escrow-
Business Use & Occupancy Tax$-8,495
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Progress Trust Inc
EIN
23-3017662
Phone
2152327070
Address
1501 N BROAD STREET, PHILADELPHIA, PA 19122

Signing Officer

Name
Wendell Whitlock
Title
Chairman
Phone
2152327070
Signed
2016-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lawrence Spruel
Formed
1999
Legal Domicile
Pa
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Anita T Conner & Associates PC
Address
766 Old York Road, Jenkintown, PA 19046
Preparer
Jessica a Rose-morgan Mba
Phone
2157828833
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The form is given to the board for signature and approval.”

Form 990, Part IX, Line 24F

“Contract labor 48420. 0. 48420. 0. Security 33066. 0. 33066. 0. Contingency/reimbursements 1892. 1892. 0. 0. Refinancing costs 500. 500. 0. 0. Miscellaneous 0. 0. 0. 0. Equipment repairs 1783. 1783. 0. 0.”

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03878
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03772
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt018472
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt032536
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0230
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0230
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99300
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt032536
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03403
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03011
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03878
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03772
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt018472
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt032536
IRS990ScheduleA/TotalSupportAmt032766
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010437498
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01628953
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012066451
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08629485
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt152106
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-8495
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt363778
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt49641
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt5154223
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Notes Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Security deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Business Use & Occupancy Tax
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Loan from PIA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Deferred Revenue
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5Real Estate Tax Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6Customer escrow
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010437498
IRS990ScheduleD/TotalLiabilityAmt08900738
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form is given to the board for signature and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONTRACT LABOR 48420. 0. 48420. 0. SECURITY 33066. 0. 33066. 0. CONTINGENCY/REIMBURSEMENTS 1892. 1892. 0. 0. REFINANCING COSTS 500. 500. 0. 0. MISCELLANEOUS 0. 0. 0. 0. EQUIPMENT REPAIRS 1783. 1783. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IX, Line 24f
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0no
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Progress Investments
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0231662811
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0n/a
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0n/a
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01501 N Broad Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Philadelphia
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd019122
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0true
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Actual cash transaction
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Progress Investment Associates
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Progress Investment Associates
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2Progress Investments Associates
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3Progress Investments Associates
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0k
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1o
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2n
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3d
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010024191
IRS990/TotalAssetsEOYAmt011185628
IRS990/TotalAssetsGrp/BOYAmt010024191
IRS990/TotalAssetsGrp/EOYAmt011185628
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03403
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0664972
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0465094
IRS990/TotalFunctionalExpensesGrp/TotalAmt01130066
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08758943
IRS990/TotalLiabilitiesEOYAmt09167406
IRS990/TotalLiabilitiesGrp/BOYAmt08758943
IRS990/TotalLiabilitiesGrp/EOYAmt09167406
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01265248
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02018222
IRS990/TotalProgramServiceExpensesAmt0465094
IRS990/TotalReportableCompFromOrgAmt0110784
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0894966
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0898369
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010024191
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011185628
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0530
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0530
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01265248
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02018222
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0709 Bullock Avenue
IRS990/USAddress/CityNm0Yeadon
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019038
IRS990/VotingMembersGoverningBodyCnt08

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,185,628
Liabilities
$9,167,406
Net assets
$2,018,222
Revenue
$898,369
Expenses
$1,130,066
Net income
-$231,697
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.49$7.17$1.32$1.00$1.03$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.50$7.48$1.02$0.77$0.88$0.12
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.79$7.44$1.35$1.21$1.05$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.14$7.11$2.03$0.96$0.94$0.03
2021Detailed filing. Detailed filing data is available for this year.$9.39$8.15$1.24$0.95$1.02$0.07
2020Detailed filing. Detailed filing data is available for this year.$9.63$8.15$1.48$0.95$0.74$0.21
2019Detailed filing. Detailed filing data is available for this year.$9.81$8.54$1.28$0.99$1.03$0.04
2018Detailed filing. Detailed filing data is available for this year.$9.97$8.68$1.28$0.44$0.62$0.19
2017Detailed filing. Detailed filing data is available for this year.$10.7$8.80$1.93$0.97$0.88$0.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$9.00$1.81$0.75$0.98$0.23
2015Detailed filing. Detailed filing data is available for this year.$11.2$9.17$2.02$0.90$1.13$0.23
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.0$8.76$1.27$1.21$1.27$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.94$8.61$1.33$1.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$8.58$1.60$1.10
2011Summary only. Only limited summary data is available for this year.$11.9$8.40$3.51$0.70$0.82$0.13