Civic Intelligence

Progress Trust Inc.

990 • Fiscal year 2018 • EIN 23-3017662

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 02, 2018

Organization Profilewww.sullivanprogressplaza.com
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

88th percentile

0.87x

Higher debt load relative to assets than 88% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

19.95x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

7th percentile

-44%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

22nd percentile

$24,225

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

15th percentile

-7.1%

Faster asset growth than 15% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

4th percentile

-55%

Faster revenue growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$9,965,972

Down $765,300 (-7.1%) from 2017

Net Assets

Down

$1,283,506

Down $647,074 (-34%) from 2017

Liabilities

Down

$8,682,466

Down $118,226 (-1.3%) from 2017

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin7th percentile

Revenue

Down

$435,107

Down $533,355 (-55%) from 2017

Expenses

Down

$624,562

Down $258,224 (-29%) from 2017

Net Income

Down

-$189,455

Down $275,131 (-321%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth15th 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

2018

Assets$9,965,972
Liabilities$8,682,466
Net Assets$1,283,506
Open 2018 Filing

Operations Trend

Revenue Growth4th 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

2018

Revenue$435,107
Expenses$624,562
Net Income-$189,455
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 2, 2018
Return Version
2017v2.2
Gross Receipts
$575,877
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,878,196$9,598,771▼ $279,425
Accounts Receivable$691,400$366,325▼ $325,075
Cash and Non-Interest-Bearing Accounts$161,676$876▼ $160,800
Total Assets$10,731,272$9,965,972▼ $765,300
Liabilities
Other Liabilities$8,426,739$8,320,899▼ $105,840
Accounts Payable and Accrued Expenses$373,953$361,567▼ $12,386
Total Liabilities$8,800,692$8,682,466▼ $118,226
Net Assets / Fund Balance
Unrestricted Net Assets$1,930,580$1,283,506▼ $647,074
Total Net Assets Fund Balance$1,930,580$1,283,506▼ $647,074
Total Liabilities and Net Assets / Fund Balance$10,731,272$9,965,972▼ $765,300

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,598,771$2,467,681$12,066,452
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cynthina FullenwellenBoard Member-$24,225$24,225
Wendell R WhitlockChairmanPT$17,500$17,500
Anita CampbellExecutive AdministratorPT$11,500$11,500
Lawrence SpruelTreasurerPT$8,175$8,175
Daryl DebrestFacilities ManagerPT$7,000$7,000

Board Members and Trustees

NameTitle
Jewell Antoine-johnsonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$3,500
Program Service Revenue
$4,564
Investment Income
$24
Other Revenue
$427,019
All Other Contributions
$3,500
Change in Net Assets
$-189,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$624,562
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$350,888$408$0$351,296
Depreciation Depletion$0$139,713$0$139,713
All Other Expenses$30,986$8,694$0$39,680
Fees for Services Management$0$35,604$0$35,604
Fees for Services Other$0$14,097$0$14,097
Office Expenses$0$9,810$0$9,810
Fees for Services Legal$0$9,661$0$9,661
Fees for Services Accounting$0$7,107$0$7,107
Insurance$0$5,168$0$5,168
Other Expenses$0$3,063$0$3,063
Conferences and Meetings$0$250$0$250
Advertising$0$145$0$145
Total Functional Expenses$388,640$235,922$0$624,562
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$8,154,177
Deferred Revenue$154,223
Security deposits$40,545
Loan from PIA$3,868
Real Estate Tax Liability-
Customer escrow-
Business Use & Occupancy Tax$-31,914
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
2018-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lawrence Spruel
Formed
1999
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
6
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

“Licenses, permits and fees 38880. 30186. 8694. 0.”

Form 990, Part IX, Line 24E

“Contingency/reimbursements 800. 800. 0. 0.”

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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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03403
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03011
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt015247
IRS990ScheduleA/TotalSupportAmt015930
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09598771
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02467681
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012066452
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08154177
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt140545
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-31914
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt33868
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4154223
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/TotalBookValueLandBuildingsAmt09598771
IRS990ScheduleD/TotalLiabilityAmt08320899
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form is given to the board for signature and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Licenses, permits and fees 38880. 30186. 8694. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Contingency/reimbursements 800. 800. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 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
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt09965972
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IRS990/TotalContributionsAmt03500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0235922
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0388640
IRS990/TotalFunctionalExpensesGrp/TotalAmt0624562
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08800692
IRS990/TotalLiabilitiesEOYAmt08682466
IRS990/TotalLiabilitiesGrp/BOYAmt08800692
IRS990/TotalLiabilitiesGrp/EOYAmt08682466
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01930580
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01283506
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt04564
IRS990/TotalProgramServiceExpensesAmt0388640
IRS990/TotalProgramServiceRevenueAmt04564
IRS990/TotalReportableCompFromOrgAmt068400
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0431607
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0435107
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010731272
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09965972
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01930580
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01283506
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0709 Bullock Avenue
IRS990/USAddress/CityNm0Yeadon
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019038
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.sullivanprogressplaza.com
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WENDELL WHITLOCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02152327070
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Progress Trust Inc
ReturnHeader/Filer/BusinessNameControlTxt0PROG
ReturnHeader/Filer/EIN0233017662
ReturnHeader/Filer/PhoneNum02152327070

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,965,972
Liabilities
$8,682,466
Net assets
$1,283,506
Revenue
$435,107
Expenses
$624,562
Net income
-$189,455
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