Pennsylvania Microenterprise Coalition
- Assets
- $1.1m
- Revenue
- $287.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 09/2010
- Data as of
- 06/2021
- EIN
- 23-2920364
Organization Overview
Pennsylvania Microenterprise Coalition is located in Philadelphia, PA. The organization was established in 2010. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Microenterprise Coalition is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2021, Pennsylvania Microenterprise Coalition has awarded 17 individual grants totaling $25,000,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PA CDFI NETWORK IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING INFORMATION, ADVICE AND NECESSARY FINANCIAL ASSISTANCE TO FEDERALLY-CERTIFIED (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2020, THE NETWORK WAS CHARGED BY THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT (DCED), AND LACKAWANA, PHILADELPHIA AND ALLEGHENY COUNTIES TO DISTRIBUTE APPROXIMATELY 249M IN CARES ACT FUNDING TO SMALL BUSINESSES ACROSS THE STATE (SEE FULL PROGRAM REPORT HERE.) THROUGH THIS EFFORT 14,530 SMALL BUSINESSES RECEIVED RECOVERY GRANTS, WITH 57% OF THE FUNDING RECEIVED BY BUSINESSES OWNED BY PEOPLE OF COLOR (PARTICULARLY BLACK, HISPANIC AND ASIAN BUSINESSES) AND 80% DISTRIBUTED AMONG LOW-AND-MODERATE-INCOME BUSINESS OWNERS. ADDITIONALLY, THE PA CDFI NETWORK DISTRIBUTED 25 MILLION IN GRANTS TO CDFIS AND 5.7 MILLION TO BLACK-OWNED MINORITY VENDORS HELPING DELIVER PROGRAMS. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Masterson Secretary | OfficerTrustee | 2 | $0 |
Leslie Benoliel Treasurer | OfficerTrustee | 2 | $0 |
Lynne Cutler Second Vice | OfficerTrustee | 2 | $0 |
Daniel Betancourt Chair | OfficerTrustee | 2 | $0 |
James Burnett First Vice C | OfficerTrustee | 2 | $0 |
Chris Hudock Assistant Se | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $287,076,113 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,648 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $287,109,761 |
| Total Program Service Revenue | $0 |
| Investment income | $16,914 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $287,126,675 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000,000 |
| Grants and other assistance to domestic individuals. | $249,011,146 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,510 |
| Fees for services: Accounting | $25,265 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,108,595 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $28,327 |
| All other expenses | $0 |
| Total functional expenses | $286,344,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,079,293 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $384 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,079,677 |
| Accounts payable and accrued expenses | $240,423 |
| Grants payable | $0 |
| Deferred revenue | $42,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $282,423 |
| Net assets without donor restrictions | $797,254 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,079,677 |
Grants Awarded
Over the last fiscal year, Pennsylvania Microenterprise Coalition has awarded $25,000,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsburgh, PA PURPOSE: LOAN AND DEBT RELIEF | $4,278,992 |
Philadelphia, PA PURPOSE: LOAN AND DEBT RELIEF | $4,278,992 |
Lancaster, PA PURPOSE: LOAN AND DEBT RELIEF | $4,278,992 |
UNITED BANK OF PHILADELPHIA PURPOSE: LOAN AND DEBT RELIEF | $3,410,996 |
Greensburg, PA PURPOSE: LOAN AND DEBT RELIEF | $2,906,090 |
Philadelphia, PA PURPOSE: LOAN AND DEBT RELIEF | $2,464,821 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Pennsylvania Microenterprise Coalition has recieved totaling $92,790.
| Awarding Organization | Amount |
|---|---|
Philadelphia Foundation Philadelphia, PA PURPOSE: CAPACITY BUILDING SUPPORT FOR BIPOC SMALL BUSINESS OWNERS | $50,000 |
Reinvestment Fund Inc Philadelphia, PA PURPOSE: GENERAL SUPPORT FOR OPERATIONS OF PA CDFI NETWORK | $42,790 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pennsylvania Microenterprise Coalition Philadelphia, PA | $1,079,677 | $287,126,675 |
569 Directions Credit Union Inc Toledo, OH | $1,165,662,447 | $46,146,625 |
Quadrivium New York, NY | $52,883,139 | $7,776,109 |
International Training Fund Annapolis, MD | $65,607,769 | $32,226,310 |
Alliance For Downtown New York Inc New York, NY | $19,570,349 | $22,494,008 |
Cities For Financial Empowerment Fund Inc New York, NY | $14,654,854 | $7,980,604 |
Cidny-Independent Living Services Inc Brooklyn, NY | $9,867,599 | $12,474,702 |
Waterfront Partnership Of Baltimore Inc Baltimore, MD | $10,304,693 | $15,904,703 |
Buffalo Urban Development Corporation Buffalo, NY | $100,186,156 | $9,769,050 |
Berks Community Action Program Inc Reading, PA | $2,377,966 | $7,401,234 |
Juvenile Justice Center Of Phila Philadelphia, PA | $3,150,884 | $6,364,511 |
Sid Public Services Association Columbus, OH | $3,043,026 | $3,862,882 |