Civic Intelligence

Progress Trust Inc.

990 • Fiscal year 2016 • EIN 23-3017662

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 02, 2016

Organization ProfileN/A
1501 N Broad StreetPhiladelphia, PA 19122

(215) 232-7070

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$10,808,910

Down $376,718 (-3.4%) from 2015

Net Assets

Down

$1,809,910

Down $208,312 (-10%) from 2015

Liabilities

Down

$8,999,000

Down $168,406 (-1.8%) from 2015

Revenue And Expenses

Revenue

Down

$754,308

Down $144,061 (-16%) from 2015

Expenses

Down

$984,736

Down $145,330 (-13%) from 2015

Net Income

Up

-$230,428

Up $1,269 (+0.5%) from 2015

Historical Trend

Balance Sheet Trend

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

2016

Assets$10,808,910
Liabilities$8,999,000
Net Assets$1,809,910
Open 2016 Filing

Operations Trend

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

2016

Revenue$754,308
Expenses$984,736
Net Income-$230,428
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 2, 2016
Return Version
2015v3.0
Gross Receipts
$1,075,678
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,437,498$10,157,656▼ $279,842
Accounts Receivable$357,239$474,457▲ $117,218
Cash and Non-Interest-Bearing Accounts$365,070$176,797▼ $188,273
Prepaid Expenses and Deferred Charges$25,821--
Total Assets$11,185,628$10,808,910▼ $376,718
Liabilities
Other Liabilities$8,900,738$8,692,601▼ $208,137
Accounts Payable and Accrued Expenses$266,668$306,399▲ $39,731
Total Liabilities$9,167,406$8,999,000▼ $168,406
Net Assets / Fund Balance
Unrestricted Net Assets$2,018,222$1,809,910▼ $208,312
Total Net Assets Fund Balance$2,018,222$1,809,910▼ $208,312
Total Liabilities and Net Assets / Fund Balance$11,185,628$10,808,910▼ $376,718

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$10,157,656$1,908,796$12,066,452
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Wendell R WhitlockChairmanPT$42,000$42,000
Cynthina FullenwellenBoard Member-$25,203$25,203
Anita CampbellExecutive AdministratorPT$25,000$25,000
Lawrence SpruelTreasurerPT$8,250$8,250
Daryl DebrestFacilities ManagerPT$7,500$7,500

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$2,603
Program Service Revenue
$0
Investment Income
$228
Other Revenue
$751,477
Change in Net Assets
$-230,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$984,736
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$409,585$0$0$409,585
Depreciation Depletion$0$279,843$0$279,843
Fees for Services Management$0$81,000$0$81,000
All Other Expenses$47,235$25,938$0$73,173
Fees for Services Accounting$0$68,701$0$68,701
Office Expenses$0$32,224$0$32,224
Insurance$0$19,598$0$19,598
Fees for Services Legal$0$13,014$0$13,014
Conferences and Meetings$0$1,025$0$1,025
Advertising$600$0$0$600
Other Expenses$0$450$0$450
Travel$0$30$0$30
Total Functional Expenses$461,151$523,585$0$984,736
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$8,458,359
Real Estate Tax Liability$154,223
Loan from PIA$56,507
Security deposits$18,506
Deferred Revenue$18,341
Customer escrow-
Business Use & Occupancy Tax$-13,335
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
2016-11-02
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
Kerri M Conner CPA
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 24E

“Contract labor 47235. 47235. 0. 0.”

Form 990, Part IX, Line 24E

“Security 6570. 0. 6570. 0.”

Form 990, Part IX, Line 24E

“Utilities 5067. 0. 5067. 0.”

Form 990, Part IX, Line 24E

“Dues and subscriptions 1000. 0. 1000. 0.”

Form 990, Part IX, Line 24E

“Consulting 13301. 0. 13301. 0.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt356507
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt418341
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/TotalBookValueLandBuildingsAmt010157656
IRS990ScheduleD/TotalLiabilityAmt08692601
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form is given to the board for signature and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Contract labor 47235. 47235. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Security 6570. 0. 6570. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Utilities 5067. 0. 5067. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Dues and subscriptions 1000. 0. 1000. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Consulting 13301. 0. 13301. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
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
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011185628
IRS990/TotalAssetsEOYAmt010808910
IRS990/TotalAssetsGrp/BOYAmt011185628
IRS990/TotalAssetsGrp/EOYAmt010808910
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02603
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0523585
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0461151
IRS990/TotalFunctionalExpensesGrp/TotalAmt0984736
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09167406
IRS990/TotalLiabilitiesEOYAmt08999000
IRS990/TotalLiabilitiesGrp/BOYAmt09167406
IRS990/TotalLiabilitiesGrp/EOYAmt08999000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02018222
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01809910
IRS990/TotalProgramServiceExpensesAmt0461151
IRS990/TotalReportableCompFromOrgAmt0107953
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0751705
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0754308
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011185628
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010808910
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt030
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt030
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02018222
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01809910
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0709 Bullock Avenue
IRS990/USAddress/CityNm0Yeadon
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019038
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,808,910
Liabilities
$8,999,000
Net assets
$1,809,910
Revenue
$754,308
Expenses
$984,736
Net income
-$230,428
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
2016Detailed filing. Detailed filing data is available for this year.$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