Totals
- Total revenue
- $12,847,743
- Total expenses
- $8,604,317
- Contributions and grants received
- $7,875,779
- Grants paid
- $391,048
- Program service revenue
- $4,970,616
- Investment income
- $1,348
- Other revenue
- $0
- Total assets, end of year
- $97,622,121
- Total liabilities, end of year
- $67,675,316
- Net assets or fund balances, end of year
- $29,946,805
- Program services expenses (Part IX)
- $7,625,196
- Management and general expenses
- $897,236
- Fundraising expenses
- $81,885
- Program service expenses (Part III)
- $7,625,196
Program services were 88.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$1,503,125
-
1f · All other contributions, gifts and grants
$6,372,654
-
2a · Program service revenue: INTEREST ON LOANS
total $2,919,662 · related or exempt $2,919,662
-
2b · Program service revenue: MEMBERSHIP DUES
total $1,428,925 · related or exempt $1,428,925
-
2c · Program service revenue: CONFERENCE FEES
total $388,729 · related or exempt $388,729
-
2d · Program service revenue: PUBLICATIONS
total $134,633 · related or exempt $134,633
-
2e · Program service revenue: CONTRACT SERVICE
total $74,990 · related or exempt $74,990
-
2f · All other program service revenue
total $23,677 · related or exempt $23,677
-
3 · Investment income
total $1,348 · excluded $1,348
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $391,048 · program services $391,048
-
5 · Compensation of officers, directors and key employees
total $727,417 · program services $553,418 · management and general $139,884 · fundraising $34,115
-
7 · Other salaries and wages
total $2,747,618 · program services $2,273,889 · management and general $437,601 · fundraising $36,128
-
8 · Pension plan contributions
total $36,219 · program services $30,005 · management and general $6,208 · fundraising $6
-
9 · Other employee benefits
total $271,600 · program services $219,306 · management and general $46,470 · fundraising $5,824
-
10 · Payroll taxes
total $250,605 · program services $199,520 · management and general $45,273 · fundraising $5,812
-
11b · Fees: legal
total $12,734 · program services $12,734
-
11c · Fees: accounting
total $72,408 · program services $72,408
-
11g · Fees: other
total $1,274,930 · program services $1,190,732 · management and general $84,198
-
12 · Advertising and promotion
total $1,260 · program services $1,260
-
13 · Office expenses
total $158,674 · program services $143,877 · management and general $14,797
-
14 · Information technology
total $85,784 · program services $85,784
-
16 · Occupancy
total $297,830 · program services $270,738 · management and general $27,092
-
17 · Travel
total $109,972 · program services $99,039 · management and general $10,933
-
19 · Conferences, conventions and meetings
total $358,049 · program services $358,049
-
20 · Interest
total $1,471,942 · program services $1,471,942
-
22 · Depreciation, depletion and amortization
total $111,465 · program services $50,025 · management and general $61,440
-
23 · Insurance
total $60,780 · program services $54,906 · management and general $5,874
-
24a · Other expenses: MORTGAGE SERVICE FEES
total $134,193 · program services $127,231 · management and general $6,962
-
24b · Other expenses: MISCELLANEOUS
total $29,789 · program services $19,285 · management and general $10,504
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,681,938 · end of year $4,592,674
-
2 · Savings and temporary cash investments
beginning of year $13,823,998 · end of year $19,780,888
-
4 · Accounts receivable
beginning of year $678,035 · end of year $1,412,910
-
7 · Other notes and loans receivable
beginning of year $63,831,660 · end of year $68,756,980
-
9 · Prepaid expenses and deferred charges
beginning of year $22,329 · end of year $46,140
-
10a · Land, buildings and equipment: cost or other basis
$548,646
-
10b · Land, buildings and equipment: accumulated depreciation
$290,316
-
10c · Land, buildings and equipment, net
beginning of year $319,770 · end of year $258,330
-
12 · Investments: other securities
beginning of year $564,328 · end of year $505,829
-
15 · Other assets
beginning of year $1,040,754 · end of year $2,268,370
-
17 · Accounts payable and accrued expenses
beginning of year $511,879 · end of year $611,136
-
19 · Deferred revenue
beginning of year $91,175 · end of year $778,875
-
23 · Secured mortgages and notes payable
beginning of year $55,304,563 · end of year $64,892,253
-
25 · Other liabilities
beginning of year $291,645 · end of year $1,393,052
-
27 · Net assets without donor restrictions
beginning of year $21,444,881 · end of year $22,913,497
-
28 · Net assets with donor restrictions
beginning of year $4,318,669 · end of year $7,033,308
Mission and programs · 2022
Mission
THE MISSION OF INCLUSIV IS TO HELP LOW- AND MODERATE-INCOME PEOPLE AND COMMUNITIES ACHIEVE FINANCIAL INDEPENDENCE THROUGH CREDIT UNIONS.
-
INCLUSIV CAPITAL PROVIDES CAPITAL TO MEMBER CDCUS THROUGH UNINSURED SUBORDINATED DEBT LOANS AND INSURED NON-MEMBER DEPOSITS.
Expenses $1,069,874 · Revenue $1,152,031
-
CDCU MORTGAGE CENTER LLC IS A WHOLLY OWNED SUBSIDIARY ESTABLISHED TO PURCHASE AFFORDABLE MORTGAGES FROM MEMBER CREDIT UNIONS, ENABLING THEM TO RECYCLE THEIR CAPITAL, MANAGE THEIR BALANCE SHEETS, AND MAKE NEW LOANS.
Expenses $674,365 · Revenue $1,154,273
-
INCLUSIV/BLACK COMMUNITIES, INCLUDING THE RESILIENCE FUND. INCLUSIV/BLACK COMMUNITIES IS A PROGRAM FOR SMALL AND FAITH-BASED CREDIT UNIONS SERVING PREDOMINANTLY AFRICAN AMERICAN COMMUNITIES. THE RESILIENCE FUND IS A GRANT FUND TO SUPPORT CREDIT UNIONS SERVING COMMUNITIES OF COLOR DISPROPORTIONATELY AFFECTED BY THE CORONAVIRUS PANDEMIC. THROUGH THE RESILIENCE FUND, INCLUSIV DISTRIBUTES GRANT SUPPORT TO MINORITY DEPOSITORY INSTITUTIONS (MDIS) UNDER $100 MILLION IN ASSETS.
Expenses $426,842 · Grants $302,000
-
Expenses $5,454,115 · Grants $89,048 · Revenue $2,664,312
As filed on the 2022 return.
Listed in Part VII
-
Angela MorrisonANGELA MORRISON
RECORDING SECRETARY (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Aurelio Arroya GonzalezAURELIO ARROYA GONZALEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Blanche L JacksonBLANCHE L JACKSON
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Brenda DominquezBRENDA DOMINQUEZ
TREASURER (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Ed SivakED SIVAK
CORRESP. SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Eddie AliceaEDDIE ALICEA
CORRESP. SECRETARY (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Hank HubbardHANK HUBBARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jack LawsonJACK LAWSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jacqueline MooreJACQUELINE MOORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James HunterJAMES HUNTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kathy ChartierKATHY CHARTIER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Luis PastorLUIS PASTOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michele Franqui BaqueroMICHELE FRANQUI BAQUERO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nereida Seda VargasNEREIDA SEDA VARGAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Paul WoodruffPAUL WOODRUFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Richard RomeroRICHARD ROMERO
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Robin RomanoROBIN ROMANO
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Shasta LeiningerSHASTA LEININGER
DIRECTOR (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Cathleen MahonCATHLEEN MAHON
PRESIDENT/CEO
- Total calculated
- $299,437
- From this org
- $275,471
- From related orgs
- $0
- Other
- $23,966
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $275,471
- Bonus
- $0
- Other
- $0
- Deferred
- $14,257
- Nontaxable benefits
- $9,709
- Filer's total
- $299,437
-
Eben SheafferEBEN SHEAFFER
CFO/CIO
- Total calculated
- $244,588
- From this org
- $225,292
- From related orgs
- $0
- Other
- $19,296
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $225,292
- Bonus
- $0
- Other
- $0
- Deferred
- $11,791
- Nontaxable benefits
- $7,505
- Filer's total
- $244,588
-
Pamela OwensPAMELA OWENS
VICE PRESIDENT
- Total calculated
- $183,392
- From this org
- $153,401
- From related orgs
- $0
- Other
- $29,991
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $153,401
- Bonus
- $0
- Other
- $0
- Deferred
- $8,162
- Nontaxable benefits
- $21,829
- Filer's total
- $183,392
-
Andrea LallyANDREA LALLY
DIR. OF CREDIT UNION OP
- Total calculated
- $115,386
- From this org
- $109,228
- From related orgs
- $0
- Other
- $6,158
- Hours/week
- 40
-
Ann D SolomonANN D SOLOMON
SR VP STRATEGIC INITIATIVE
- Total calculated
- $160,232
- From this org
- $141,033
- From related orgs
- $0
- Other
- $19,199
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,033
- Bonus
- $0
- Other
- $0
- Deferred
- $7,685
- Nontaxable benefits
- $11,514
- Filer's total
- $160,232
-
Neda ArabshahiNEDA ARABSHAHI
VP RESILIENCY & CLEAN ENERGY
- Total calculated
- $135,990
- From this org
- $130,020
- From related orgs
- $0
- Other
- $5,970
- Hours/week
- 40
-
Pablo DefilippiPABLO DEFILIPPI
SVP NETWORK DEVELOPMENT
- Total calculated
- $218,611
- From this org
- $196,304
- From related orgs
- $0
- Other
- $22,307
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $196,304
- Bonus
- $0
- Other
- $0
- Deferred
- $10,600
- Nontaxable benefits
- $11,707
- Filer's total
- $218,611
-
Pavan MakhijaPAVAN MAKHIJA
CONTROLLER
- Total calculated
- $144,232
- From this org
- $144,232
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$20,000
CREDIT UNION IMPACT CAPACITY BUILDING
-
COOPERATIVE CENTER FCU
$20,000
CREDIT UNION IMPACT CAPACITY BUILDING
-
FLORIDA A&M UNIVERSITY FEDERAL CREDIT UNION
$20,000
CREDIT UNION IMPACT CAPACITY BUILDING
-
$20,000
CREDIT UNION IMPACT CAPACITY BUILDING
-
TOLEDO METRO FEDERAL CREDIT UNION
$17,000
CREDIT UNION IMPACT CAPACITY BUILDING
-
COOPERATIVA EDECOOP
$13,250
CREDIT UNION IMPACT CAPACITY BUILDING
-
COOPERATIVA EMPLEADOS MUNICIPIO DE BAYAMON
$13,250
CREDIT UNION IMPACT CAPACITY BUILDING
-
COOPERATIVA LA LOTERIA DE PR
$13,250
CREDIT UNION IMPACT CAPACITY BUILDING
-
COOPRATIVA AUTORIDAD CARRETERAS Y OBRAS PUBLICAS
$13,250
CREDIT UNION IMPACT CAPACITY BUILDING
-
LANAI FEDERAL CREDIT UNION
$13,250
CREDIT UNION IMPACT CAPACITY BUILDING
The 10 largest by cash amount. The API serves every itemized grant.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
CDCU MORTGAGE CENTER LLC
PURCHASING MORTGAGES FROM MEMBER CREDIT UNIONS · NY · income $1,154,273 · assets $31,851,066
Directly controlled by NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNION
-
INCLUSIV SECONDARY CAPITAL FUND LLC
MAKING SECONDARY CAPITAL LOANS TO INCLUSIV MEMBER CREDIT UNIONS · NY · income $1,162,781 · assets $29,929,068
Directly controlled by NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333189349309958
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.