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Vestedin FY2024 filing

Tax-deductible

Philadelphia, PA501(c)(3)HousingEIN 23-2855262Revenue $1.4M in FY2024

On file with the IRSvestedin.org3675 Market Street, 19104-2897 · Philadelphia, PATax-exempt since Mar 1999Publicly supported charity — 170(b)(1)(A)(vi)

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Vestedin's mission is to facilitate economic empowerment and increased employment opportunities in the philadelphia area.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$118K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $83K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$118K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 16.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $377K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
-24% vs prior year
Spent
$2.6M
To programs
86%
Net assets
$5.9M
By yearFY2021–FY2025
Revenue
$1.4M
FY2024▼ -24%
Tap a bar for its year
Revenue by fiscal year
FY2021$3.3M
FY2022$1.8M
FY2023$1.9M
FY2024$1.4M
FY2025$1.3M
Expenses
$2.6M
FY2024▲ +29%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.8M
FY2022$1.6M
FY2023$2.0M
FY2024$2.6M
FY2025$2.1M
Net assets
$5.9M
FY2024▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2021$7.0M
FY2022$7.2M
FY2023$7.0M
FY2024$5.9M
FY2025$5.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $2.3M Management & general 13% · $342K Fundraising 1% · $24K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $118K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
James R Burnett
Executive Director
$117,511Pt VII · Sec A
$0Pt VII · Sec A
Robyn Chin
Vice Chairman
$0Pt VII · Sec A
Naja Muhammad
Treasurer
$0Pt VII · Sec A
Malcolm Yates
Secretary
$0Pt VII · Sec A
Kimberly Reed
Board Member
$0Pt VII · Sec A
Andre Andrews
Board Member
$0Pt VII · Sec A
Vanessa Williams
Board Member
$0Pt VII · Sec A

James R Burnett’s $129K as Executive Director is at the 58th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
James R Burnett$128,728$117,511$103,102$107,018$73,337

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers economic growth and creates jobs in Philadelphia.

Questions for Vestedin

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Provided by the organization

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1 program · $2.3M · in their own filed words · FY2023
01

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.

$2.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
The Philadelphia FoundationFY2024$152K
The Blackbaud Giving FundFY2024$100K
Jevs Human ServicesFY2024$85K
Wells Fargo FoundationFY2024$40K
The Sam and Deidre Patterson FoundationFY2024$250
Total grants receivedfrom 5 funders$377K
See all 5 funders →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$820K
Fees for servicesLn 2g$585K
Other incomeLn 4–11$12K
Money outPt IX
$2.6M
Ln 25
Programscol B$2.3M
Managementcol C$342K
Fundraisingcol D$24K
Owns and owesPt X
$5.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$6.9M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$820K
Government grantsLn 1e$381K
Fees for servicesLn 2g$585K
Investment incomeLn 3$12K
Other incomeLn 4–11$12K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$2.3M
SavingsLn 2$1.3M
Cash and savings togetherLn 1–2$3.6M
InvestmentsLn 11–13$74K
Land, buildings, equipmentLn 10c$109K
Other assetsLn 15$2.4M
Total assetsLn 16$6.9M
LiabilitiesLn 26$1.0M
Net assetsLn 32$5.9M
OperationsPt I, VI
EmployeesI 536
VolunteersI 619
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$4.0M$3.6M
InvestmentsLn 11–13$73K$74K
Land, buildings, equipmentLn 10c$52K$109K
Total assetsLn 16$8.1M$6.9M
LiabilitiesLn 26$1.1M$1.0M
Net assetsLn 32$7.0M$5.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$133K$86K$47K$0
Other salaries and wagesLn 7$515K$471K$44K$0
Other employee benefitsLn 9$78K$57K$22K$0
Payroll taxesLn 10$55K$44K$11K$0
Legal feesLn 11b$12K$4K$8K$0
Accounting feesLn 11c$97K$61K$36K$0
Other fees for servicesLn 11g$71K$45K$26K$0
Advertising and promotionLn 12$53K$1K$50K$1K
Office expensesLn 13$5K$160$4K$0
OccupancyLn 16$89K$56K$33K$0
TravelLn 17$13K$0$13K$0
Conferences, conventions and meetingsLn 19$49K$6K$20K$23K
Depreciation, depletion and amortizationLn 22$5K$0$5K$0
InsuranceLn 23$15K$9K$6K$0
Other expenses (24a–d)Ln 24$1.4M$1.4M$0$0
All other expensesLn 24e$36K$20K$16K$0
Total functional expensesLn 25$2.6M$2.3M$342K$24K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$2.1M−$865K$5.0M 990 PDF
FY2024 Viewing $1.4M$2.6M−$1.2M$5.9M 990 PDF
FY2023 $1.9M$2.0M−$143K$7.0M 990 PDF
FY2022 $1.8M$1.6M$264K$7.2M 990 PDF
FY2021 $3.3M$1.8M$1.5M$7.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,428,855 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,411,641$819,987
I-9 Program service revenuePrior year $450,471$585,056
I-10 Investment incomePrior year $8,982$11,751
I-11 Other revenuePrior year $17,367$12,061
I-12 Total revenuePrior year $1,888,461$1,428,855
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $653,452$782,180
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,378,100$1,836,894
I-18 Total expensesPrior year $2,031,552$2,619,074
I-19 Revenue less expensesPrior year −$143,091−$1,190,219
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,428,855 across 7 lines filed
VIII-1e Government grants$381,000
VIII-1f All other contributions, gifts and grants$438,987
VIII-1h Total contributions, gifts and grants$819,987
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$585,056
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $11,751$11,751
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $12,061$12,061
VIII-12 Total revenueRelated to mission $585,056 · Unrelated business $0 · Excluded from tax $23,812$1,428,855
Part IX · Statement of functional expenses $2,619,074 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $86,238 · Management $47,012 · Fundraising $0$133,250
IX-7 Other salaries and wagesPrograms $471,473 · Management $44,000 · Fundraising $0$515,473
IX-9 Other employee benefitsPrograms $56,642 · Management $21,548 · Fundraising $0$78,190
IX-10 Payroll taxesPrograms $43,771 · Management $11,496 · Fundraising $0$55,267
IX-11b Legal feesPrograms $4,076 · Management $8,035 · Fundraising $0$12,111
IX-11c Accounting feesPrograms $61,357 · Management $36,134 · Fundraising $0$97,491
IX-11g Other fees for servicesPrograms $45,036 · Management $25,721 · Fundraising $0$70,757
IX-12 Advertising and promotionPrograms $1,384 · Management $50,289 · Fundraising $1,465$53,138
IX-13 Office expensesPrograms $160 · Management $4,487 · Fundraising $0$4,647
IX-16 OccupancyPrograms $56,050 · Management $33,439 · Fundraising $0$89,489
IX-17 TravelPrograms $0 · Management $13,407 · Fundraising $0$13,407
IX-19 Conferences, conventions and meetingsPrograms $6,251 · Management $19,796 · Fundraising $22,612$48,659
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $4,744 · Fundraising $0$4,744
IX-23 InsurancePrograms $8,935 · Management $5,778 · Fundraising $0$14,713
IX-24 Other expenses (24a–d)Programs $1,392,010 · Management $0 · Fundraising $0$1,392,010
IX-24e All other expensesPrograms $20,028 · Management $15,700 · Fundraising $0$35,728
IX-25 Total functional expensesPrograms $2,253,411 · Management $341,586 · Fundraising $24,077$2,619,074
Part X · Balance sheet $6,877,654 assets, 15 lines filed
Asset lines not itemized here account for $483,512; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,756,393$2,293,495
X-2 Savings and temporary cash investmentsStart of year $1,282,017$1,314,692
X-4 Accounts receivableStart of year $324,050$155,233
X-9 Prepaid expenses and deferred chargesStart of year $11,847$14,309
X-10c Land, buildings and equipment, netStart of year $51,861$109,377
X-12 Other securitiesStart of year $73,008$73,958
X-15 Other assetsStart of year $2,573,986$2,433,078
X-16 Total assetsStart of year $8,094,075$6,877,654
X-17 Accounts payable and accrued expensesStart of year $96,012$101,843
X-25 Other liabilitiesStart of year $390,123$383,669
X-26 Total liabilitiesStart of year $1,053,341$1,027,139
X-27 Net assets without donor restrictionsStart of year $5,226,710$5,123,270
X-28 Net assets with donor restrictionsStart of year $1,814,024$727,245
X-32 Total net assets or fund balancesStart of year $7,040,734$5,850,515
X-33 Total liabilities and net assetsStart of year $8,094,075$6,877,654
Part XI · Reconciliation of net assets $5,850,515 net assets at year end
XI-1 Total revenue$1,428,855
XI-2 Total expenses$2,619,074
XI-3 Revenue less expenses−$1,190,219
XI-4 Net assets at start of year$7,040,734
XI-10 Net assets at end of year$5,850,515

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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