Civic Intelligence

The Resource Exchange

990 • Fiscal year 2021 • EIN 27-0493941

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 19, 2022

1114 N 4th St Ste APhiladelphia, PA 19123

(267) 349-9220

Siviq Scores

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

Liabilities / Assets

75th percentile

0.07x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

72nd percentile

0.03x

Higher debt load relative to revenue than 72% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

61st percentile

17%

Higher net margin than 61% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

90th percentile

$38,563

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 17.4% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

65th percentile

19%

Faster asset growth than 65% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

80th percentile

68%

Faster revenue growth than 80% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$117,595

Up $18,534 (+19%) from 2020

Net Assets

Up

$109,857

Up $36,959 (+51%) from 2020

Liabilities

Down

$7,738

Down $18,425 (-70%) from 2020

Revenue

Up

$221,353

Up $89,208 (+68%) from 2020

Expenses

Up

$184,394

Up $34,966 (+23%) from 2020

Net Income

Up

$36,959

Up $54,242 (+314%) from 2020

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2017: $118,460Liabilities 2017: $1,113Net Assets 2017: $117,3472017Assets 2018: $115,225Liabilities 2018: $1,342Net Assets 2018: $113,8832018Assets 2019: $91,378Liabilities 2019: $1,197Net Assets 2019: $90,1812019Assets 2020: $99,061Liabilities 2020: $26,163Net Assets 2020: $72,8982020Assets 2021: $117,595Liabilities 2021: $7,738Net Assets 2021: $109,8572021Assets 2022: $125,956Liabilities 2022: $6,739Net Assets 2022: $119,2172022Assets 2023: $154,158Liabilities 2023: $5,576Net Assets 2023: $148,5822023Assets 2024: $132,100Liabilities 2024: $3,502Net Assets 2024: $128,5982024

Highlighted filing

2021

Assets$117,595
Liabilities$7,738
Net Assets$109,857

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2017: $172,716Expenses 2017: $175,809Net Income 2017: -$3,0932017Revenue 2018: $187,327Expenses 2018: $190,791Net Income 2018: -$3,4642018Revenue 2019: $169,108Expenses 2019: $192,810Net Income 2019: -$23,7022019Revenue 2020: $132,145Expenses 2020: $149,428Net Income 2020: -$17,2832020Revenue 2021: $221,353Expenses 2021: $184,394Net Income 2021: $36,9592021Revenue 2022: $231,818Expenses 2022: $222,458Net Income 2022: $9,3602022Revenue 2023: $299,726Expenses 2023: $270,361Net Income 2023: $29,3652023Revenue 2024: $303,956Expenses 2024: $323,940Net Income 2024: -$19,9842024

Highlighted filing

2021

Revenue$221,353
Expenses$184,394
Net Income$36,959
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 19, 2022
Return Version
2021v4.2
Gross Receipts
$221,353
Mission and Program Overview

Mission

SEE ATTACHMENT 1

Reuse center dedicated to promoting creative reuse, recycling and resource conservation by diverting valuable materials from the waste stream and redirecting them to artists, builders, educators and the general public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$81,885$95,896▲ $14,011
Total Assets$99,061$117,595▲ $18,534
Other Assets Total$17,176$21,699▲ $4,523
Liabilities
Accounts Payable and Accrued Expenses-$6,627-
Other Liabilities$26,163$1,111▼ $25,052
Total Liabilities$26,163$7,738▼ $18,425
Net Assets / Fund Balance
Net Assets With Donor Restrictions$72,898$109,857▲ $36,959
Total Net Assets Fund Balance$72,898$109,857▲ $36,959
Total Liabilities and Net Assets / Fund Balance$99,061$117,595▲ $18,534

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$10,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Karyn GerredExecutive Director CEOFT$38,563$38,563
Brittany SweigartProgram StaffFT$23,210$23,210
Genevieve S DegrootProgram StaffPT$13,755$13,755
Joseph T WhitfieldProgram StaffPT$7,560$7,560
Rebecca TorresProgram StaffPT$5,816$5,816

Board Members and Trustees

NameTitle
Allison HobanBoard Chair
Kristen FinchBoard Secretary
Rob WilliamsonBoard Treasurer
Denise GerredDirector
Dennis MadiganDirector
Erika KatzDirector
Flora VassarDirector
James ZwolakDirector
Kate QuinnDirector
Kristin Barrett BrownDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$89,042
Program Service Revenue
$132,311
Investment Income
$0
Other Revenue
$0
All Other Contributions
$22,828
Change in Net Assets
$36,959
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$100,780
Other Expenses$83,614
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$37,277$25,618-$62,895
Other Salaries and Wages$54,256--$54,256
Current Officers, Directors, Trustees, and Key Employees-$38,563-$38,563
Payroll Taxes$7,961--$7,961
Insurance$2,021$5,643-$7,664
Other Expenses$3,878--$3,878
Fees for Services Accounting-$2,500-$2,500
Office Expenses-$1,525-$1,525
Fees for Services Other$1,051--$1,051
Advertising$132--$132
Fees for Services Legal-$100-$100
Total Functional Expenses$110,445$73,949$0$184,394
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
Sales Tax Payable$1,111
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

The executive director / ceo, karyn gerred, and one of the directors, denise gerred, are siblings.

Form 990 governing body review Part VI line 11

The form 990 will be completed annually and copies will be provided to the entire governing board as well as the president of the organization. At that time the president will review the form 990 with the treasurer. Any necessary changes will then be updated on the form. Once all necessary changes are made and the president is in agreement with the treasurer on the finished form 990, it will be signed by the treasurer, dated and submitted by the filing deadline. A copy of the approved form 990 will be provided to all of the officers, directors and trustees before the return is filed.

Conflict of interest policy compliance Part VI line 12C

No part of the net earnings of the corporation shall inure to the benefit of, or be distributable to its any board member has a duty to disclose any actual or possible conflict of interest, the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement.

CEO executive director top management comp Part VI line 15A

Currently, the only board member receiving compensation is the executive director/ceo (karyn gerred). No compensation is planned for any of the other present board members, nor is any compensation planned for the near-future. Any compensation for board members must be voted on by all current board members and passed unanimously. Records of such approval will be recorded in the minutes of the board of directors meeting.

Other officer or key employee compensation Part VI line 15B

Currently, the only board member receiving compensation is the executive director/ceo (karyn gerred). No compensation is planned for any of the other present board members, nor is any compensation planned for the near-future. Any compensation for board members must be voted on by all current board members and passed unanimously. Records of such approval will be recorded in the minutes of the board of directors meeting.

Governing documents etc available to public Part VI line 19

All governing documents are available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
The Resource Exchange
EIN
27-0493941
Address
1114 N 4TH ST STE A, PHILADELPHIA, PA 19123

Signing Officer

Name
Karyn Gerred
Title
Executive Direc
Phone
2679970060
Signed
2022-10-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karyn Gerred
Formed
2009
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
11
Employees
7

Preparer

Firm
Frankford Tax Professionals LLC
Address
2424 E York St Unit 327, Philadelphia, PA 19125
Preparer
Russell Shore
Phone
2679084882
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR / CEO, KARYN GERRED, AND ONE OF THE DIRECTORS, DENISE GERRED, ARE SIBLINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WILL BE COMPLETED ANNUALLY AND COPIES WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD AS WELL AS THE PRESIDENT OF THE ORGANIZATION. AT THAT TIME THE PRESIDENT WILL REVIEW THE FORM 990 WITH THE TREASURER. ANY NECESSARY CHANGES WILL THEN BE UPDATED ON THE FORM. ONCE ALL NECESSARY CHANGES ARE MADE AND THE PRESIDENT IS IN AGREEMENT WITH THE TREASURER ON THE FINISHED FORM 990, IT WILL BE SIGNED BY THE TREASURER, DATED AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OF THE OFFICERS, DIRECTORS AND TRUSTEES BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO PART OF THE NET EARNINGS OF THE CORPORATION SHALL INURE TO THE BENEFIT OF, OR BE DISTRIBUTABLE TO ITS ANY BOARD MEMBER HAS A DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CURRENTLY, THE ONLY BOARD MEMBER RECEIVING COMPENSATION IS THE EXECUTIVE DIRECTOR/CEO (KARYN GERRED). NO COMPENSATION IS PLANNED FOR ANY OF THE OTHER PRESENT BOARD MEMBERS, NOR IS ANY COMPENSATION PLANNED FOR THE NEAR-FUTURE. ANY COMPENSATION FOR BOARD MEMBERS MUST BE VOTED ON BY ALL CURRENT BOARD MEMBERS AND PASSED UNANIMOUSLY. RECORDS OF SUCH APPROVAL WILL BE RECORDED IN THE MINUTES OF THE BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CURRENTLY, THE ONLY BOARD MEMBER RECEIVING COMPENSATION IS THE EXECUTIVE DIRECTOR/CEO (KARYN GERRED). NO COMPENSATION IS PLANNED FOR ANY OF THE OTHER PRESENT BOARD MEMBERS, NOR IS ANY COMPENSATION PLANNED FOR THE NEAR-FUTURE. ANY COMPENSATION FOR BOARD MEMBERS MUST BE VOTED ON BY ALL CURRENT BOARD MEMBERS AND PASSED UNANIMOUSLY. RECORDS OF SUCH APPROVAL WILL BE RECORDED IN THE MINUTES OF THE BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL GOVERNING DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
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