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← IDA AND ASSET BUILDING COLLABORATIVE OF NORTH CAROLINA

Form 990 for tax year 2023

Filed by IDA AND ASSET BUILDING COLLABORATIVE OF NORTH CAROLINA.

Totals

Total revenue
$181,131
Total expenses
$178,253
Contributions and grants received
$179,534
Grants paid
$0
Program service revenue
$1,400
Investment income
$197
Other revenue
$0
Total assets, end of year
$256,598
Total liabilities, end of year
$26,531
Net assets or fund balances, end of year
$230,067
Program services expenses (Part IX)
$121,305
Management and general expenses
$53,596
Fundraising expenses
$3,352
Program service expenses (Part III)
$121,305

Program services were 68.1% 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)

    $25,000

  • 1f · All other contributions, gifts and grants

    $154,534

  • 2a · Program service revenue: REGISTRATION FEES

    total $1,400 · related or exempt $1,400

  • 3 · Investment income

    total $197 · excluded $197

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $102,018 · program services $80,664 · management and general $18,232 · fundraising $3,122

  • 7 · Other salaries and wages

    total $996 · program services $996

  • 10 · Payroll taxes

    total $7,126 · program services $5,669 · management and general $1,227 · fundraising $230

  • 11c · Fees: accounting

    total $21,237 · program services $4,500 · management and general $16,737

  • 13 · Office expenses

    total $3,364 · program services $3,364

  • 16 · Occupancy

    total $14,900 · program services $9,394 · management and general $5,506

  • 23 · Insurance

    total $4,731 · management and general $4,731

  • 24a · Other expenses: OTHER

    total $16,157 · program services $8,994 · management and general $7,163

  • 24b · Other expenses: RECRUITING

    total $7,724 · program services $7,724

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $234,531 · end of year $235,355

  • 4 · Accounts receivable

    beginning of year $1,179 · end of year $3,841

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,730 · end of year $865

  • 15 · Other assets

    beginning of year $25,780 · end of year $16,537

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,093 · end of year $9,677

  • 25 · Other liabilities

    beginning of year $25,938 · end of year $16,854

  • 27 · Net assets without donor restrictions

    beginning of year $191,940 · end of year $200,850

  • 28 · Net assets with donor restrictions

    beginning of year $35,249 · end of year $29,217

Mission and programs · 2023

Mission

THE COLLABORATIVE'S MISSION IS TO CLOSE THE WEALTH GAP IN NORTH CAROLINA. WE ADVOCATE ON BEHALF OF FINANCIALLY VULNERABLE COMMUNITIES BY COLLABORATING WITH FINANCIAL INSTITUTIONS, NONPROFITS, AND LOCAL GOVERNMENT AGENCIES ACROSS THE STATE TO EDUCATE PEOPLE ON BUILDING WEALTH. WE BELIEVE EVERYONE REGARDLESS OF THEIR SKIN COLOR, PHYSICAL ABILITIES, OR FINANCIAL CIRCUMSTANCES DESERVES AN EQUAL OPPORTUNITY TO BUILD WEALTH.

  • PATHWAYS TO PROSPERITY CONFERENCE:EVERY OTHER YEAR, THE PATHWAYS TO PROSPERITY CONFERENCE - IN PARTNERSHIP WITH NORTH CAROLINA A & T STATE UNIVERSITY COOPERATIVE EXTENSION AND THE UNIVERSITY OF NORTH CAROLINA CENTER - BRINGS TOGETHER PROFESSIONALS WORKING TO ENSURE THAT EVERYONE IN OUR STATE HAS A CLEAR PATH TO FINANCIAL STABILITY, WEALTH, AND PROSPERITY. AS THE ONLY EVENT OF ITS KIND IN NORTH CAROLINA TO ADDRESS THE ENTIRE RANGE OF MOMENTS THAT AFFECT AN INDIVIDUAL'S OR FAMILY'S FINANCIAL WELL-BEING, THE CONFERENCE OFFERS SESSIONS ABOUT CONSUMER FINANCE ISSUES, EXPANDING ACCESS TO SAFE AND AFFORDABLE BANKING, HOMEOWNERSHIP, ACCESS TO BROADBAND, STRATEGIES TO CLOSE THE RACIAL WEALTH DIVIDE, THE INTEGRATION OF FINANCIAL CAPABILITY SERVICES AND MORE. THE CONFERENCE REACHED 75 FINANCIAL EMPOWERMENT PROFESSIONALS.

    Expenses $15,071 · Revenue $1,400

  • PROSPERITY FOR ALL - AMERICORPS VISTA:EACH YEAR THE COLLABORATIVE PLACES FULL-TIME, PAID, VOLUNTEERS AT NONPROFITS ACROSS NORTH CAROLINA TO BUILD CAPACITY WITHIN THEIR PROGRAMS FOR A YEAR, ALSO KNOWN AS OUR AMERICORPS VISTA, IS IN THE RECRUITING AND PLACEMENT PHASE. VISTAS THAT SERVED IN 2023 VISTAS WERE VERY IMPACTFUL, LAUNCHING SEVERAL STATEWIDE INITIATIVES AND SURPASSING ALL OUTREACH GOALS. OVER THE YEAR, THE COLLABORATIVE PLACED 13 VISTAS IN COMMUNITIES ACROSS THE STATE.

    Expenses $70,064

  • BANK ON NORTH CAROLINA: BANK ON NORTH CAROLINA IS OUR STATEWIDE PROGRAM DESIGNED TO PROVIDE EVERYONE WITH ACCESS TO A SAFE AND AFFORDABLE BANK ACCOUNT. SINCE OUR LAUNCH, THE COLLABORATIVE HAS HOSTED EVENTS AND CONNECTED WITH 546 PEOPLE REGARDING BANK ON NC. BANK ON NC HAS 29 LOCAL PARTNER ORGANIZATIONS. OUR MOST RECENT CONVENINGS WERE IN PARTNERSHIP WITH THE NC COOPERATIVE EXTENSION AND THE NC BANKERS' ASSOCIATION. THROUGH THIS INITIATIVE, THE COLLABORATIVE REACHED 117 INDIVIDUALS.

    Expenses $25,117

  • Expenses $11,053

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kati Sessoms

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Latasha Best-Gaddy

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Catherine Jarboe

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tameka Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bronwyn Lucas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tiffany Gladney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marquita Robertson

    EXECUTIVE DIRECTOR

    Total calculated
    $102,018
    From this org
    $98,094
    From related orgs
    $0
    Other
    $3,924
    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
2 July 2024
IRS schema version
2023v5.1
Source object
202431849349300508

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