Aeris Insight Inc
- Assets
- $2.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 15
- Location
- Philadelphia, PA
- Founding
- 06/2013
- Data as of
- 12/2022
- EIN
- 45-4135784
Organization Overview
Aeris Insight Inc is located in Philadelphia, PA. The organization was established in 2013. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Aeris Insight Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aeris Insight Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Aeris Insight Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 4.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AERIS FACILITATES AND INCREASES THE FLOW OF CAPITAL TO COMMUNITY DEVELOPMENT LOAN FUNDS, THEREBY CREATING GREATER RACIAL EQUITY, POSITIVE SOCIAL AND ENVIRONMENTAL IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RATINGS - AERIS INSIGHT, INC. PROVIDES AN INDEPENDENT ASSESSMENT OF A CDFI'S IMPACT MANAGEMENT CAPACITY AND FINANCIAL STRENGTH AND PERFORMANCE. AERIS REPORTS HELP INVESTORS CONFIDENTLY ASSESS CDFIS THAT MATCH THEIR SOCIAL AND ENVIRONMENTAL IMPACT OBJECTIVES AND RISK PARAMETERS. DURING 2022, AERIS ISSUED RATINGS REPORTS ON 72 CDFIS, WHICH SUPPORTED INVESTMENTS BY 90 CDFI INVESTORS IN LOW-INCOME AND UNDER-SERVED COMMUNITIES ACROSS THE UNITED STATES.
AERIS CLOUD/DATA PLATFORM - AERIS INSIGHT, INC. OPERATES A CLOUD-BASED DATA COLLECTION AND REPORTING SYSTEM THAT PROVIDES INVESTORS ACCESS TO QUARTERLY FINANCIAL AND IMPACT PERFORMANCE DATA ON CDFIS AND THAT SUPPORTS PEER COMPARISONS AND CDFI INDUSTRY TREND ANALYSES. DURING 2022, 156 CDFIS REPORTED DATA TO THE AERIS CLOUD. THEY COLLECTIVELY MANAGE 88% OF ALL ON-BALANCE SHEET ASSETS IN THE FIELD. BY YEAR-END, 50 INVESTORS HAD ACCESSED AERIS' CDFI DATA TO INFORM THEIR INVESTMENTS IN CDFIS.
CONTRACT SERVICES - AERIS INSIGHT, INC. OFFERS EXPANDED ASSESSMENT SERVICES FOR INVESTORS THAT COMPLEMENT ITS CORE RATINGS PRODUCT. SERVICES FOCUS ON CUSTOMIZED ASSESSMENTS OF FINANCIAL PERFORMANCE AND IMPACT OF A RANGE OF INVESTMENTS INTENDED TO PRODUCE POSITIVE SOCIAL AND ENVIRONMENTAL OUTCOMES IN MARGINALIZED AND LOW-INCOME COMMUNITIES. DURING 2022, AERIS PROVIDED DUE DILIGENCE AND MONITORING SUPPORT FOR SPECIAL PROGRAMS CREATED BY INVESTORS TO SUPPORT THE DISTRIBUTION OF CAPITAL THROUGH CDFIS TO LOW-INCOME AND MINORITY COMMUNITIES DISPROPORTIONATELY IMPACTED BY THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Penelope Douglas Chair | OfficerTrustee | 1 | $0 |
James Lum Treasurer | OfficerTrustee | 1 | $0 |
Kim Shafer Immediate Past Chair | Trustee | 1 | $0 |
Justin Conway Governance Committee Chair | Trustee | 1 | $0 |
Jim Casselberry Board Member | Trustee | 1 | $0 |
Vivienne Hsu Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akvelon Inc Software Engineering And Development | 12/30/20 | $286,921 |
Slalom Consulting Business And Technology Consulting | 12/30/20 | $117,197 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,260,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,260,000 |
| Total Program Service Revenue | $1,754,964 |
| Investment income | $803 |
| 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 | $3,015,767 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $412,557 |
| Compensation of current officers, directors, key employees. | $36,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $964,847 |
| Pension plan accruals and contributions | $26,322 |
| Other employee benefits | $34,483 |
| Payroll taxes | $114,132 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $211,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $490,745 |
| Advertising and promotion | $474 |
| Office expenses | $9,033 |
| Information technology | $1,099 |
| Royalties | $0 |
| Occupancy | $14,449 |
| Travel | $26,488 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,778 |
| Interest | $70 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,821 |
| Insurance | $27,540 |
| All other expenses | $5,290 |
| Total functional expenses | $2,646,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $765 |
| Savings and temporary cash investments | $857,566 |
| Pledges and grants receivable | $130,000 |
| Accounts receivable, net | $268,275 |
| 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 | $32,697 |
| Net Land, buildings, and equipment | $1,197,379 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $12,000 |
| Other assets | $0 |
| Total assets | $2,498,682 |
| Accounts payable and accrued expenses | $199,310 |
| Grants payable | $0 |
| Deferred revenue | $634,853 |
| 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 | $834,163 |
| Net assets without donor restrictions | $684,749 |
| Net assets with donor restrictions | $979,770 |
| 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 | $2,498,682 |