Circle Venture INC FY2023 filing

Tax-deductible

Philadelphia, PA501(c)(3)EmploymentEIN 23-2989934Revenue $1.2M in FY2023

On file with the IRS2233 Frankford Ave, 19125-2007 · Philadelphia, PATax-exempt since Mar 2000Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$55K 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

FY2023 · 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
6 of 6
filings with a surplus
Average surplus $93K a year · 8% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$55K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
14 mo
of spending, in cash
Looks good: 13.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $135
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.5M
58% of total assets
Fine: liabilities are 58% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+8% vs prior year
Spent
$1.0M
To programs
100%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$1.2M
FY2023▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$735K
FY2021$1.2M
FY2022$1.1M
FY2023$1.2M
FY2024$1.4M
FY2025$1.5M
Expenses
$1.0M
FY2023▼ -0.7%
Tap a bar for its year
Expenses by fiscal year
FY2020$709K
FY2021$1.1M
FY2022$1.0M
FY2023$1.0M
FY2024$1.3M
FY2025$1.4M
Net assets
$1.1M
FY2023▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$538K
FY2021$834K
FY2022$909K
FY2023$1.1M
FY2024$1.1M
FY2025$1.2M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 2000.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.0M

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

5 people listed on the 990; $55K paid to officers and key staff.

Part VII, Section A · reportable compensation
Highest Compensated Employee
$55,000Pt VII · Sec A
$0Pt VII · Sec A
Undersecretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A

Martha Grace’s $55K as Highest Compensated Employee is at the 6th percentile of top reported officer pay among 1245 $1–10M employment 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
Martha Grace$55,000$55,000$55,000$55,000$53,200

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.

See Circle Venture INC executive salaries →

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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 15aNo

Programs and updates

Operates a thrift store providing affordable goods, job training, and grants to local organizations in Philadelphia.

Provided by the organization

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1 program · $1.0M · in their own filed words · FY2023
01

A. Circle Thrift

Operate a thrift store that sells used clothing and household goods that were donated to the organization. Provided clothing and household goods to hundreds of families in the community of Fishtown/East Kensington in Philadelphia at below market value. Provided job retail training to several underemployed adults.

$1.0Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$135
Grants paid · 38 grants · $926K · 2021–2025
Peoples Kitchen PhillyPA · FY2025$25,000
The SimplewayPA · FY2025$10,635
Beyond the Bars INCPA · FY2025$10,204
Attic Youth CenterPA · FY2025$10,000
Yes and Collaborative ArtsPA · FY2025$10,000
Painted Bride Art Center INCPA · FY2025$10,000
Lilypad PhillyPA · FY2025$10,000
All Saints Indian MissionMN · FY2025$10,000
Timoteo Philadelphia INCPA · FY2025$10,000
Donors ChoiceNY · FY2025$5,644
The SimplewayPA · FY2024$10,000
Eloheh Eagles WingsOR · FY2024$10,000
Timoteo Philadelphia INCPA · FY2024$5,000
See all 38 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$13K
Investment incomeLn 3$463
Money outPt IX
$1.0M
Ln 25
Programscol B$1.0M
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13K
Fundraising eventsLn 1c$13K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$463
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$1.4M
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.5M
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 539
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$808K$1.2M
Land, buildings, equipmentLn 10c$1.5M$1.4M
Total assetsLn 16$2.3M$2.6M
LiabilitiesLn 26$1.4M$1.5M
Net assetsLn 32$909K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$186K$186K
Other salaries and wagesLn 7$532K$532K
Payroll taxesLn 10$100K$100K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$11K$11K
OccupancyLn 16$19K$19K
InterestLn 20$9K$9K
Depreciation, depletion and amortizationLn 22$33K$33K
InsuranceLn 23$31K$31K
Other expenses (24a–d)Ln 24$102K$102K
Total functional expensesLn 25$1.0M$1.0M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5M$1.4M$116K$1.2M 990 PDF
FY2024 $1.4M$1.3M$39K$1.1M 990 PDF
FY2023 Viewing $1.2M$1.0M$172K$1.1M 990 PDF
FY2022 $1.1M$1.0M$75K$909K 990 PDF
FY2021 $1.2M$1.1M$128K$834K 990 PDF
FY2020 $735K$709K$26K$538K 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 FY2023 990 (6 parts)
Part I · Summary $1,195,468 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,449$13,489
I-9 Program service revenuePrior year $1,094,133$1,181,516
I-10 Investment incomePrior year $416$463
I-11 Other revenue$0
I-12 Total revenuePrior year $1,104,998$1,195,468
I-13 Grants and similar amounts paidPrior year $256,653$185,532
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $528,347$631,747
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $245,453$206,382
I-18 Total expensesPrior year $1,030,453$1,023,661
I-19 Revenue less expensesPrior year $74,545$171,807
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,195,468 across 5 lines filed
VIII-1c Fundraising events$13,489
VIII-1h Total contributions, gifts and grants$13,489
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,181,516$1,181,516
VIII-3 Investment incomeRelated to mission $463$463
VIII-12 Total revenueRelated to mission $1,181,979 · Unrelated business $0 · Excluded from tax $0$1,195,468
Part IX · Statement of functional expenses $1,023,661 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $185,532$185,532
IX-7 Other salaries and wagesPrograms $531,943$531,943
IX-10 Payroll taxesPrograms $99,804$99,804
IX-11c Accounting feesPrograms $1,563$1,563
IX-13 Office expensesPrograms $10,934$10,934
IX-16 OccupancyPrograms $19,338$19,338
IX-20 InterestPrograms $8,532$8,532
IX-22 Depreciation, depletion and amortizationPrograms $33,319$33,319
IX-23 InsurancePrograms $30,616$30,616
IX-24 Other expenses (24a–d)Programs $102,080$102,080
IX-25 Total functional expensesPrograms $1,023,661 · Management $0 · Fundraising $0$1,023,661
Part X · Balance sheet $2,580,183 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $807,561$1,159,031
X-10c Land, buildings and equipment, netStart of year $1,454,471$1,421,152
X-16 Total assetsStart of year $2,262,032$2,580,183
X-17 Accounts payable and accrued expensesStart of year $4,258$421
X-24 Unsecured notes and loans payableStart of year $1,349,170$1,499,351
X-26 Total liabilitiesStart of year $1,353,428$1,499,772
X-27 Net assets without donor restrictionsStart of year $908,604$1,080,411
X-32 Total net assets or fund balancesStart of year $908,604$1,080,411
X-33 Total liabilities and net assetsStart of year $2,262,032$2,580,183
Part XI · Reconciliation of net assets $1,080,411 net assets at year end
XI-1 Total revenue$1,195,468
XI-2 Total expenses$1,023,661
XI-3 Revenue less expenses$171,807
XI-4 Net assets at start of year$908,604
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,080,411

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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