Vestedin

Nonprofit profile at a glance

EIN
232855262
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2154520100
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Support

Official website

Reported finances

Revenue
$1,262,353
Expenses
$2,127,158
Assets
$6,132,490
Liabilities
$1,146,780

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • JAMES R BURNETT (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JAMES R BURNETT (EXECUTIVE DIRECTOR): $166,982 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Vestedins mission is to facilitate economic empowerment to small businesses & the community and increased employment opportunities in the philadelphia area.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.4%; rating input score 84
  • Fundraising efficiency: $42.39 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -68.5%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 2.88; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 13.4% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 15.7% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $167K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $110K reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.