Totals
- Total revenue
- $1,888,461
- Total expenses
- $2,031,552
- Contributions and grants received
- $1,411,641
- Grants paid
- $0
- Program service revenue
- $450,471
- Investment income
- $8,982
- Other revenue
- $17,367
- Total assets, end of year
- $8,094,075
- Total liabilities, end of year
- $1,053,341
- Net assets or fund balances, end of year
- $7,040,734
- Program services expenses (Part IX)
- $1,707,874
- Management and general expenses
- $284,420
- Fundraising expenses
- $39,258
- Program service expenses (Part III)
- $1,707,874
Program services were 84.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$632,265
-
1f · All other contributions, gifts and grants
$779,376
-
2a · Program service revenue: INVESTMENT INCOME FROM JOINT VENTURE
total $305,856 · unrelated business $0 · excluded $0
-
2b · Program service revenue: PROGRAM SERVICE REVENUE
total $110,469 · unrelated business $0 · excluded $0
-
2c · Program service revenue: INTEREST INCOME - LOANS
total $27,029 · unrelated business $0 · excluded $0
-
2d · Program service revenue: LOAN FEES
total $7,117 · unrelated business $0 · excluded $0
-
3 · Investment income
total $8,982 · unrelated business $0 · excluded $8,982
-
8a · Fundraising events: gross income
$53,130
-
8b · Fundraising events: direct expenses
$35,763
-
8c · Net income from fundraising events
total $17,367 · unrelated business $0 · excluded $17,367
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $120,018 · program services $77,678 · management and general $36,339 · fundraising $6,001
-
7 · Other salaries and wages
total $423,323 · program services $385,575 · management and general $31,720 · fundraising $6,028
-
9 · Other employee benefits
total $66,770 · program services $60,131 · management and general $6,639 · fundraising $0
-
10 · Payroll taxes
total $43,341 · program services $31,277 · management and general $10,848 · fundraising $1,216
-
11c · Fees: accounting
total $82,310 · program services $46,385 · management and general $35,925 · fundraising $0
-
11g · Fees: other
total $74,292 · program services $50,136 · management and general $21,185 · fundraising $2,971
-
12 · Advertising and promotion
total $64,059 · program services $29,380 · management and general $33,384 · fundraising $1,295
-
13 · Office expenses
total $3,185 · program services $330 · management and general $2,855 · fundraising $0
-
16 · Occupancy
total $87,699 · program services $56,973 · management and general $30,726 · fundraising $0
-
17 · Travel
total $31,662 · program services $16,549 · management and general $15,113 · fundraising $0
-
19 · Conferences, conventions and meetings
total $43,759 · program services $6,278 · management and general $15,734 · fundraising $21,747
-
22 · Depreciation, depletion and amortization
total $5,469 · program services $0 · management and general $5,469 · fundraising $0
-
23 · Insurance
total $22,607 · program services $14,042 · management and general $8,565 · fundraising $0
-
24a · Other expenses: SMALL BUSINESS RELIEF GRANTS
total $524,776 · program services $524,776 · management and general $0 · fundraising $0
-
24b · Other expenses: BAD DEBT EXPENSE
total $309,721 · program services $309,721 · management and general $0 · fundraising $0
-
24c · Other expenses: WESGOLD FELLOWS
total $71,588 · program services $71,588 · management and general $0 · fundraising $0
-
24d · Other expenses: LOAN SERVICING
total $7,419 · program services $7,419 · management and general $0 · fundraising $0
-
24e · All other expenses
total $49,554 · program services $19,636 · management and general $29,918 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,964,101 · end of year $2,756,393
-
2 · Savings and temporary cash investments
beginning of year $1,742,505 · end of year $1,282,017
-
4 · Accounts receivable
beginning of year $601,550 · end of year $324,050
-
7 · Other notes and loans receivable
beginning of year $786,461 · end of year $1,020,913
-
9 · Prepaid expenses and deferred charges
beginning of year $12,081 · end of year $11,847
-
10a · Land, buildings and equipment: cost or other basis
$203,311
-
10b · Land, buildings and equipment: accumulated depreciation
$151,450
-
10c · Land, buildings and equipment, net
beginning of year $55,190 · end of year $51,861
-
11 · Investments: publicly traded securities
beginning of year $72,892 · end of year $73,008
-
15 · Other assets
beginning of year $2,525,304 · end of year $2,573,986
-
17 · Accounts payable and accrued expenses
beginning of year $72,401 · end of year $96,012
-
23 · Secured mortgages and notes payable
beginning of year $116,599 · end of year $567,206
-
25 · Other liabilities
beginning of year $387,259 · end of year $390,123
-
27 · Net assets without donor restrictions
beginning of year $5,433,922 · end of year $5,226,710
-
28 · Net assets with donor restrictions
beginning of year $1,749,903 · end of year $1,814,024
Mission and programs · 2022
Mission
VESTEDIN'S MISSION IS TO FACILITATE ECONOMIC EMPOWERMENT TO SMALL BUSINESSES & THE COMMUNITY AND INCREASED EMPLOYMENT OPPORTUNITIES IN THE PHILADELPHIA AREA.
-
PROVIDES ECONOMIC EMPOWERMENT TO SMALL BUSINESSES & THE COMMUNITY AND INCREASED EMPLOYMENT OPPORTUNITIES IN THE PHILADELPHIA AREA. PROVIDES CAPITAL, TECHNICAL ASSISTANCE AND FINANCIAL SERVICES AS AN INNOVATIVE RESPONSE TO A LOW-INCOME COMMUNITY HISTORICALLY UNDER SERVED BY TRADITIONAL FINANCIAL INSTITUTIONS. VESTEDIN ALSO OPERATES A PROGRAM FOR HIGH SCHOOL STUDENTS TO PROVIDE INSIGHT INTO FINANCIAL EDUCATION, COLLEGE PLANNING AND CAREER PLANNING.
Expenses $1,707,874 · Grants $524,776 · Revenue $450,471
As filed on the 2022 return.
Listed in Part VII
-
James R BurnettJAMES R BURNETT
EXECUTIVE DIRECTOR
- Total calculated
- $129,952
- From this org
- $103,102
- From related orgs
- $0
- Other
- $26,850
- Hours/week
- 40
-
Ismail ShahidISMAIL SHAHID
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Robyn ChinROBYN CHIN
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Naja MuhammadNAJA MUHAMMAD
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Malcolm YatesMALCOLM YATES
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Kimberly ReedKIMBERLY REED
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Andre AndrewsANDRE ANDREWS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Vanessa WilliamsVANESSA WILLIAMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Darryl RidgewayDARRYL RIDGEWAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Alan WilsonALAN WILSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Cierrah West-WilliamsCIERRAH WEST-WILLIAMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jacqueline LopezJACQUELINE LOPEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 6 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202420669349300127
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