Civic Intelligence

Progress Trust Inc.

990 • Fiscal year 2019 • EIN 23-3017662

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 04, 2019

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

89th percentile

0.87x

Higher debt load relative to assets than 89% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

8.61x

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

26th percentile

-4.3%

Higher net margin than 26% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

30th percentile

-1.5%

Faster asset growth than 30% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

128%

Faster revenue growth than 96% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$9,814,603

Down $151,369 (-1.5%) from 2018

Net Assets

Down

$1,276,364

Down $7,142 (-0.6%) from 2018

Liabilities

Down

$8,538,239

Down $144,227 (-1.7%) from 2018

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin26th percentile

Revenue

Up

$991,122

Up $556,015 (+128%) from 2018

Expenses

Up

$1,034,073

Up $409,511 (+66%) from 2018

Net Income

Up

-$42,951

Up $146,504 (+77%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth30th 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

2019

Assets$9,814,603
Liabilities$8,538,239
Net Assets$1,276,364
Open 2019 Filing

Operations Trend

Revenue Growth96th 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

2019

Revenue$991,122
Expenses$1,034,073
Net Income-$42,951
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 4, 2019
Return Version
2018v3.1
Gross Receipts
$1,225,986
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,598,771$9,319,346▼ $279,425
Accounts Receivable$366,325$417,594▲ $51,269
Cash and Non-Interest-Bearing Accounts$876$77,663▲ $76,787
Total Assets$9,965,972$9,814,603▼ $151,369
Liabilities
Other Liabilities$8,320,899$8,255,456▼ $65,443
Accounts Payable and Accrued Expenses$361,567$282,783▼ $78,784
Total Liabilities$8,682,466$8,538,239▼ $144,227
Net Assets / Fund Balance
Unrestricted Net Assets$1,283,506$1,276,364▼ $7,142
Total Net Assets Fund Balance$1,283,506$1,276,364▼ $7,142
Total Liabilities and Net Assets / Fund Balance$9,965,972$9,814,603▼ $151,369

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,302,022$2,747,106-
Equipment$17,324--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Cynthina FullenwellenBoard Member-$25,194$25,194
Lawrence SpruelTreasurerPT$9,000$9,000

Board Members and Trustees

NameTitle
Wendell R WhitlockChairman
Jewell Antoine-JohnsonBoard Member
Anita ChappelExecutive Administrator
Daryl DeBrestFacilities Manager
Revenue and Support

Revenue Composition

Contributions and Grants
$6,573
Program Service Revenue
$9,128
Investment Income
$47
Other Revenue
$975,374
All Other Contributions
$6,573
Change in Net Assets
$-42,951
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,034,073
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$25,479$301,798$0$327,277
Depreciation Depletion$0$279,425$0$279,425
Occupancy$7,723$135,899$0$143,622
Fees for Services Management$0$75,990$0$75,990
Insurance$0$39,227$0$39,227
Fees for Services Legal$0$33,206$0$33,206
Fees for Services Other$0$23,686$0$23,686
Office Expenses$0$21,975$0$21,975
Fees for Services Accounting$0$16,907$0$16,907
Other Expenses$0$10,725$0$10,725
Advertising$0$4,439$0$4,439
All Other Expenses$846$1,562$0$2,408
Conferences and Meetings$0$1,827$0$1,827
Total Functional Expenses$42,036$992,037$0$1,034,073
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$7,956,274
Customer escrow$154,224
Real Estate Tax Liability$140,422
Security deposits$42,545
Loan from PIA$12,000
Deferred Revenue$0
Business Use & Occupancy Tax$-50,009
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
2019-11-04
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
Anita T Conner CPA MS Tax CFP
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 50. 0. 50. 0.”

Form 990, Part IX, Line 24E

“Contingency/reimbursements 861. 846. 15. 0.”

Form 990, Part IX, Line 24E

“Bank charges 428. 0. 428. 0.”

Form 990, Part IX, Line 24E

“Meals & entertainment 750. 0. 750. 0.”

Form 990, Part IX, Line 24E

“Merchant Association Exp 319. 0. 319. 0.”

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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0730
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96270
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.95710
IRS990ScheduleA/PublicSupportTotal170Amt018856
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearAmt047
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt047
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt06620
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02730
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02603
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03403
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt018856
IRS990ScheduleA/TotalSupportAmt019586
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt09302022
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02747106
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt012049128
IRS990ScheduleD/EquipmentGrp/BookValueAmt017324
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt017324
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07956274
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt142545
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-50009
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt312000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt40
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt5140422
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt6154224
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/TotalBookValueLandBuildingsAmt09319346
IRS990ScheduleD/TotalLiabilityAmt08255456
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form is given to the board for signature and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Licenses, permits and fees 50. 0. 50. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Contingency/reimbursements 861. 846. 15. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Bank charges 428. 0. 428. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Meals & entertainment 750. 0. 750. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Merchant Association Exp 319. 0. 319. 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/TotalAssetsBOYAmt09965972
IRS990/TotalAssetsEOYAmt09814603
IRS990/TotalAssetsGrp/BOYAmt09965972
IRS990/TotalAssetsGrp/EOYAmt09814603
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt06573
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0992037
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt042036
IRS990/TotalFunctionalExpensesGrp/TotalAmt01034073
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08682466
IRS990/TotalLiabilitiesEOYAmt08538239
IRS990/TotalLiabilitiesGrp/BOYAmt08682466
IRS990/TotalLiabilitiesGrp/EOYAmt08538239
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01283506
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01276364
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt09128
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt042036
IRS990/TotalProgramServiceRevenueAmt09128
IRS990/TotalReportableCompFromOrgAmt034194
IRS990/TotalRevenueGrp/ExclusionAmt00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,814,603
Liabilities
$8,538,239
Net assets
$1,276,364
Revenue
$991,122
Expenses
$1,034,073
Net income
-$42,951
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