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← COOPERATIVE FUND OF THE NORTHEAST INC

Form 990 for tax year 2022

Filed by COOPERATIVE FUND OF THE NORTHEAST INC.

Totals

Total revenue
$4,768,332
Total expenses
$2,666,249
Contributions and grants received
$2,941,650
Grants paid
$11,000
Program service revenue
$1,659,226
Investment income
$167,456
Other revenue
$0
Total assets, end of year
$47,930,923
Total liabilities, end of year
$35,160,069
Net assets or fund balances, end of year
$12,770,854
Program services expenses (Part IX)
$2,168,954
Management and general expenses
$437,176
Fundraising expenses
$60,119
Program service expenses (Part III)
$2,168,954

Program services were 81.3% 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)

    $2,774,994

  • 1f · All other contributions, gifts and grants

    $166,656

  • 2a · Program service revenue: INTEREST ON PROGRAM LO

    total $1,525,949 · related or exempt $1,525,949

  • 2b · Program service revenue: OTHER PROGRAM LOAN FEE

    total $133,277 · related or exempt $133,277

  • 3 · Investment income

    total $167,456 · excluded $167,456

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,000 · program services $11,000

  • 5 · Compensation of officers, directors and key employees

    total $278,052 · program services $189,075 · management and general $80,635 · fundraising $8,342

  • 7 · Other salaries and wages

    total $761,107 · program services $517,554 · management and general $220,720 · fundraising $22,833

  • 8 · Pension plan contributions

    total $8,961 · program services $6,093 · management and general $2,599 · fundraising $269

  • 9 · Other employee benefits

    total $5,733 · program services $3,898 · management and general $1,663 · fundraising $172

  • 10 · Payroll taxes

    total $80,207 · program services $54,541 · management and general $23,260 · fundraising $2,406

  • 11c · Fees: accounting

    total $19,761 · management and general $19,761

  • 11g · Fees: other

    total $57,376 · program services $4,016 · management and general $30,983 · fundraising $22,377

  • 12 · Advertising and promotion

    total $66,432 · program services $49,824 · management and general $16,608

  • 13 · Office expenses

    total $14,733 · program services $9,847 · management and general $1,166 · fundraising $3,720

  • 14 · Information technology

    total $42,504 · program services $31,628 · management and general $10,876

  • 19 · Conferences, conventions and meetings

    total $65,754 · program services $49,315 · management and general $16,439

  • 20 · Interest

    total $591,858 · program services $591,858

  • 23 · Insurance

    total $10,008 · program services $5,004 · management and general $5,004

  • 24a · Other expenses: TECHNICAL ASSISTANCE

    total $318,260 · program services $318,260

  • 24b · Other expenses: ADDITION TO LOSS RESERV

    total $315,116 · program services $315,116

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $10,460 · program services $5,230 · management and general $5,230

  • 24e · All other expenses

    total $8,927 · program services $6,695 · management and general $2,232

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,271,501 · end of year $3,964,041

  • 2 · Savings and temporary cash investments

    beginning of year $15,760,456 · end of year $15,503,694

  • 4 · Accounts receivable

    beginning of year $5,567

  • 7 · Other notes and loans receivable

    beginning of year $22,726,760 · end of year $28,384,241

  • 15 · Other assets

    beginning of year $78,947 · end of year $78,947

  • 17 · Accounts payable and accrued expenses

    beginning of year $347,397 · end of year $352,211

  • 19 · Deferred revenue

    beginning of year $2,297,295 · end of year $524,233

  • 22 · Loans and payables to officers and key people

    beginning of year $87,735 · end of year $88,545

  • 25 · Other liabilities

    beginning of year $30,442,033 · end of year $34,195,080

  • 27 · Net assets without donor restrictions

    beginning of year $10,338,351 · end of year $12,440,434

  • 28 · Net assets with donor restrictions

    beginning of year $330,420 · end of year $330,420

Mission and programs · 2022

Mission

WE ADVANCE COMMUNITY BASED, COOPERATIVE AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES WITH PREFERENCE TO THOSE THAT SERVE LOW INCOME COMMUNITIES.

Activities or mission (Part I)

TO ADVANCE COMMUNITY BASED, COOPERATIVE AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES.

  • PROVIDE FINANCIAL AND EDUCATIONAL ASSISTANCE TO NONPROFIT AND COOPERATIVE ORGANIZATIONS, PRIMARILY WITHIN THE NORTHEAST AND ENDEAVOR TO PROVIDE ASSISTANCE TO THOSE OF GREATEST NEED.

    Expenses $2,168,954 · Grants $11,000 · Revenue $1,659,226

As filed on the 2022 return.

Listed in Part VII

  • Alfred Duke Bouchard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Amethyst Carey

    TRUSTEE

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Andrew Danforth

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Bonnie Hudspeth

    PRESIDENT/BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Clark Arrington

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Daniel Ross

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Jon Reske

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Jonah Fertig-Burd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Kimberly Lyle

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Lucas Turner-Owens

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Marilyn Scholl

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Matthew Feinstein

    CLERK

    Total calculated
    $0
    Hours/week
    4

  • Susan Ellis

    TRUSTEE

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Dorian Gregory

    DEPUTY EXECUTIVE DIRECTOR

    Total calculated
    $133,076
    From this org
    $129,200
    From related orgs
    $0
    Other
    $3,876
    Hours/week
    40

  • Micha Josephy

    EXECUTIVE DIRECTOR

    Total calculated
    $144,975
    From this org
    $140,752
    From related orgs
    $0
    Other
    $4,223
    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.

Grants on this return

  • ROZZIE BOUND CO-OP

    $0

    BUSINESS STABILIZATION

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
23 May 2023
IRS schema version
2022v5.0
Source object
202321459349300917

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