Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $239,989

• 1e · Government grants (contributions)

  $4,231,811

• 1f · All other contributions, gifts and grants

  $899,922

• 2a · Program service revenue: Interest From Loans

  total $2,146,203 · related or exempt $2,146,203

• 2b · Program service revenue: Loan Fee Revenue

  total $74,733 · related or exempt $74,733

• 2c · Program service revenue: Loan Service Revenue

  total $2,789 · related or exempt $2,789

• 2f · All other program service revenue

  total $182,920 · related or exempt $182,920

• 3 · Investment income

  total $985,828 · excluded $985,828

• 7b · Less cost or other basis and sales expenses

  other assets $75,148

• 7c · Gain or loss

  other assets -$75,148

• 7d · Net gain or loss

  total -$75,148 · excluded -$75,148

• 8a · Fundraising events: gross income

  $96,524

• 8a · Fundraising events: contributions included on line 1c

  $239,989

• 8b · Fundraising events: direct expenses

  $169,021

• 8c · Net income from fundraising events

  total -$72,497 · excluded -$72,497

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $25,000 · program services $25,000

• 5 · Compensation of officers, directors and key employees

  total $777,845 · program services $394,917 · management and general $273,520 · fundraising $109,408

• 7 · Other salaries and wages

  total $2,702,981 · program services $1,682,016 · management and general $384,187 · fundraising $636,778

• 8 · Pension plan contributions

  total $75,839 · program services $47,043 · management and general $11,304 · fundraising $17,492

• 9 · Other employee benefits

  total $523,794 · program services $306,511 · management and general $100,631 · fundraising $116,652

• 10 · Payroll taxes

  total $227,486 · program services $138,276 · management and general $40,085 · fundraising $49,125

• 11b · Fees: legal

  total $140,555 · program services $45,726 · management and general $94,829

• 11c · Fees: accounting

  total $80,687 · program services $80,687

• 11d · Fees: lobbying

  total $31,500 · fundraising $31,500

• 11g · Fees: other

  total $677,649 · program services $485,443 · management and general $16,964 · fundraising $175,242

• 13 · Office expenses

  total $70,368 · program services $41,147 · management and general $9,796 · fundraising $19,425

• 14 · Information technology

  total $702,750 · program services $380,530 · management and general $42,705 · fundraising $279,515

• 16 · Occupancy

  total $342,409 · program services $250,298 · management and general $61,074 · fundraising $31,037

• 17 · Travel

  total $19,314 · program services $15,392 · management and general $2,080 · fundraising $1,842

• 19 · Conferences, conventions and meetings

  total $27,617 · program services $20,606 · management and general $2,940 · fundraising $4,071

• 20 · Interest

  total $480,148 · program services $480,148

• 22 · Depreciation, depletion and amortization

  total $65,186 · program services $45,630 · management and general $13,037 · fundraising $6,519

• 23 · Insurance

  total $82,589 · program services $60,630 · management and general $14,639 · fundraising $7,320

• 24a · Other expenses: Uncollectible Loan Loss

  total $1,931,744 · program services $1,931,744

• 24b · Other expenses: Education Workshops

  total $110,851 · program services $21,449 · management and general $1,052 · fundraising $88,350

• 24c · Other expenses: Memberships

  total $13,121 · program services $8,592 · management and general $2,299 · fundraising $2,230

• 24e · All other expenses

  total $118,663 · program services $108,137 · management and general $2,206 · fundraising $8,320

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $26,577,933 · end of year $23,011,538

• 3 · Pledges and grants receivable

  beginning of year $1,504,389 · end of year $481,390

• 4 · Accounts receivable

  beginning of year $205,748 · end of year $215,434

• 9 · Prepaid expenses and deferred charges

  beginning of year $181,926 · end of year $339,115

• 10a · Land, buildings and equipment: cost or other basis

  $830,178

• 10b · Land, buildings and equipment: accumulated depreciation

  $785,758

• 10c · Land, buildings and equipment, net

  beginning of year $78,284 · end of year $44,420

• 12 · Investments: other securities

  beginning of year $750,000 · end of year $750,000

• 13 · Investments: program-related

  beginning of year $34,180,221 · end of year $31,644,649

• 15 · Other assets

  beginning of year $54,760 · end of year $2,979,658

• 17 · Accounts payable and accrued expenses

  beginning of year $606,188 · end of year $640,632

• 19 · Deferred revenue

  beginning of year $18,831,500 · end of year $16,152,382

• 23 · Secured mortgages and notes payable

  beginning of year $24,593,083 · end of year $22,530,000

• 25 · Other liabilities

  beginning of year $1,139,017 · end of year $2,391,263

• 27 · Net assets without donor restrictions

  beginning of year $17,516,392 · end of year $17,688,545

• 28 · Net assets with donor restrictions

  beginning of year $847,081 · end of year $63,382

The filer's explanations (Part III)

Part I, Line 7

Officers are eligible for bonuses based on annual performance reviews. The bonuses are determined by the President and Board of Directors.