Lancaster Avenue 21st Century Busi… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

Principal Officer

KWAKU BOATENG

Phone

2158830109

Tax Period

2024-01-01 to 2024-12-31

Lancaster Avenue 21st Century Business Association, founded in 2011, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 84% from the prior year, signaling strong growth momentum.

Mission

TO FOSTER SUCCESS BUSINESS GROWTH AND ECONOMIC BETTERMENT OF THE LANCASTER AVENUE BUSINESS CORRIDOR AND THE CITY OF PHILADELPHIA AND TO PROVIDE TRAINING AND THE ENVIRONMENT TO HELP NEW AND ESTABLISHED BUSINESSES ADDRESS THE DIFFICULTIES OF STARTING , MAINTAINING AND NAVIGATING STEPS TO SUCCESS.

Program Service Accomplishments

Program 1

Expenses: $452,507

THE SCALE UP YOUR BUSINESS PROGRAM TRAINS, COACHES, AND SUPPORTS THE NEXT GENERATION OF SUSTAINABLE, SCALABLE, AND REPLICABLE BUSINESSES.

Program 2

Expenses: $271,502

LANCASTERAVENUE SUPPORTS BUSINESSES BY PROVIDING TECHNICAL ASSISTANCE FOR ALMOST ALL ASPECTS OF BUSINESS CYCLE.

Program 3

Expenses: $814,502

RESPONSIBLE FOR CLEANING TWENTY BLOCKS OF THE LANCASTER AVENUE COMMERCIAL CORRIDOR. THIS RESPONSIBILITY IS MANAGED BY DIRECTLY ORGANIZING A CLEANING CREW AND COLLABORATING WITH BUSINESS OWNERS TO...

RESPONSIBLE FOR CLEANING TWENTY BLOCKS OF THE LANCASTER AVENUE COMMERCIAL CORRIDOR. THIS RESPONSIBILITY IS MANAGED BY DIRECTLY ORGANIZING A CLEANING CREW AND COLLABORATING WITH BUSINESS OWNERS TO ENSURE THEY UNDERSTAND THEIR RESPONSIBILITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,718,956

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,718,956

Expense Breakdown

Grants Paid $0

Salaries & Benefits $360,597

Fundraising Expenses $0

Program Expenses $1,538,511

Other Expenses $1,449,416

TOTAL EXPENSES $1,810,013

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,718,956	$935,900	+0.8%
Expenses	$1,810,013	$931,975	+0.9%
Net Income	$-91,057	$3,925	-24.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$259,900

Total Directors

$281,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KWAKU BOATENG	EXEC. DIRECTOR	060.00	Officer Director Highest	$173,500	$0	$173,500
JACKIE WILLIAMS	TREASURER	005.00	Officer Director	$86,400	$0	$86,400
STEPHANIE COLLINS	SECRETARY	005.00	Director	$21,300	$0	$21,300
PEARL BAILEY-ANDERSON	VICE PRESIDENT	050.00	Officer Director	$0	$0	$0
BELINDA PATRICK	BOARD MEMBER	005.00	Director	$0	$0	$0
TERRI SHOCKLEY	BOARD MEMBER	005.00	Director	$0	$0	$0
CLAUDE BARNES	BOARD MEMBER	005.00	Director	$0	$0	$0
JOEL SPIVAK	BOARD MEMBER	005.00	Director	$0	$0	$0
LISA ASHTON MATTIOLI	BOARD MEMBER	005.00	Director	$0	$0	$0
BENN ROE	BOARD MEMBER	005.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,718,956	$1,810,013	$278,121	$-91,057
2023	$935,900	$928,975	$257,617	$6,925
2022	$673,342	$597,903	$117,142	$75,439
2021	$431,487	$418,041	$51,538	$13,446
2020	$136,845	$130,599	$13,340	$6,246

Lancaster Avenue 21st Century Business Association