Totals
- Total revenue
- $7,717,316
- Total expenses
- $4,247,455
- Contributions and grants received
- $7,087,759
- Grants paid
- $0
- Program service revenue
- $513,401
- Investment income
- $116,156
- Other revenue
- $0
- Total assets, end of year
- $15,423,453
- Total liabilities, end of year
- $2,984,212
- Net assets or fund balances, end of year
- $12,439,241
- Program services expenses (Part IX)
- $3,796,123
- Management and general expenses
- $390,026
- Fundraising expenses
- $61,306
- Program service expenses (Part III)
- $3,796,123
Program services were 89.4% 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)
$260,000
-
1f · All other contributions, gifts and grants
$6,827,759
-
2a · Program service revenue: LENDING REVENUE
total $264,572 · related or exempt $264,572
-
2b · Program service revenue: PROCESSING FEES
total $146,787 · related or exempt $146,787
-
2c · Program service revenue: TRAINING
total $41,950 · related or exempt $41,950
-
2d · Program service revenue: MISCELLANEOUS
total $34,070 · related or exempt $34,070
-
2e · Program service revenue: PROGRAM SERVICE FEES
total $26,022 · related or exempt $26,022
-
3 · Investment income
total $116,156 · related or exempt $116,156
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,647,641 · program services $1,327,648 · management and general $275,451 · fundraising $44,542
-
9 · Other employee benefits
total $59,692 · program services $50,521 · management and general $5,740 · fundraising $3,431
-
10 · Payroll taxes
total $111,862 · program services $90,137 · management and general $18,701 · fundraising $3,024
-
11b · Fees: legal
total $4,450 · management and general $4,450
-
11c · Fees: accounting
total $2,956 · program services $2,956
-
11g · Fees: other
total $71,871 · program services $71,871
-
13 · Office expenses
total $20,113 · program services $16,120 · management and general $3,146 · fundraising $847
-
14 · Information technology
total $15,260 · management and general $15,260
-
16 · Occupancy
total $152,004 · program services $121,829 · management and general $23,775 · fundraising $6,400
-
17 · Travel
total $48,539 · program services $48,539
-
20 · Interest
total $26,628 · program services $26,628
-
22 · Depreciation, depletion and amortization
total $72,750 · program services $58,309 · management and general $11,379 · fundraising $3,062
-
23 · Insurance
total $17,715 · management and general $17,715
-
24a · Other expenses: GRANTS - P/S
total $1,279,814 · program services $1,279,814
-
24b · Other expenses: LOSS ON SALE OF LOANS - P
total $458,602 · program services $458,602
-
24c · Other expenses: CONTRACT AND CONSULTING S
total $150,143 · program services $135,734 · management and general $14,409
-
24d · Other expenses: PROGRAM EXPENSES - P/S
total $65,638 · program services $65,638
-
24e · All other expenses
total $41,777 · program services $41,777
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,175,236 · end of year $8,937,950
-
3 · Pledges and grants receivable
beginning of year $4,075,000 · end of year $3,400,000
-
7 · Other notes and loans receivable
beginning of year $4,028,242 · end of year $1,744,400
-
10a · Land, buildings and equipment: cost or other basis
$530,262
-
10b · Land, buildings and equipment: accumulated depreciation
$290,049
-
10c · Land, buildings and equipment, net
beginning of year $289,706 · end of year $240,213
-
14 · Intangible assets
beginning of year $837,078 · end of year $953,234
-
15 · Other assets
beginning of year $171,400 · end of year $147,656
-
17 · Accounts payable and accrued expenses
beginning of year $239,882 · end of year $274,912
-
23 · Secured mortgages and notes payable
beginning of year $2,000,000 · end of year $2,600,000
-
25 · Other liabilities
beginning of year $367,400 · end of year $109,300
-
27 · Net assets without donor restrictions
beginning of year $8,969,380 · end of year $9,039,241
-
28 · Net assets with donor restrictions
end of year $3,400,000
Mission and programs · 2023
Mission
PROVIDE FAMILIES AND INDIVIDUALS WITH DEVELOPMENTAL PRODUCTS AND SERVICES WHICH INCLUDE FAVORABLE FINANCING, EDUCATION, FINANCIAL LITERACY TRAINING, TECHNICAL ASSISTANCE, ACCESS TO RESOURCES TO EMPOWER THEM TO BECOME SELF SUFFICIENT.HELPING THEM ACCESS AFFORDABLE HOUSING OPPORTUNITIES, WORKFORCE READINESS, SMALL BUSINESS DEVELOPMENT TECHNICAL ASSISTANCE, SERVICES TO BUILD ASSETS, FINANCIAL CAPABILITY & WEALTH. COLLABORATE WITH COMMUNITY PARTNERS TO EXPAND ACCESS TO RESOURCES AND OPPORTUNITIES TO THE UNDERSERVED.
Activities or mission (Part I)
HELP FAMILIES AND COMMUNITIES BUILD SOCIAL AND ECONOMIC WEALTH BY PROVIDING COMPREHENSIVE VALUE BASED FINANCIAL EDUCATION, TRAINING, TECHNICAL ASSISTANCE, AFFORDABLE HOUSING OPPORTUNITIES, AND ACCESS TO DEVELOPMENTAL FINANCIAL PRODUCTS AND SERVICES IN COLLABORATION WITH OTHER PUBLIC AND PRIVATE COMMUNITY PARTNERS.
-
PROVIDE FAMILIES AND INDIVIDUALS WITH DEVELOPMENTAL PRODUCTS AND SERVICES WHICH INCLUDE FAVORABLE FINANCING, EDUCATION, FINANCIAL LITERACY TRAINING, TECHNICAL ASSISTANCE, ACCESS TO RESOURCES TO EMPOWER THEM TO BECOME SELF SUFFICIENT. HELPING THEM ACCESS AFFORDABLE HOUSING OPPORTUNITIES, WORKFORCE READINESS, SMALL BUSINESS DEVELOPMENT TECHNICAL ASSISTANCE, SERVICES TO BUILD ASSETS, FINANCIAL CAPABILITY & WEALTH. COLLABORATE WITH COMMUNITY PARTNERS TO EXPAND ACCESS TO RESOURCES AND OPPORTUNITIES TO THE UNDERSERVED.
Expenses $3,796,123
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
DAVID MCGEE
EXECUTIVE DI
- Total calculated
- $432,946
- From this org
- $432,946
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $232,946
- Bonus
- not reported
- Other
- $200,000
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $432,946
-
MONIQUE BULSON-BRATTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
FRANKLIN STOVALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
LORETTA SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RENE ISUK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ROCHELLE WASHINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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 · Form 990 of other organizations
- 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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 June 2024
- IRS schema version
- 2023v5.0
- Source object
- 202442149349300714
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