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Nonprofiteer
← ACCOMPANY CAPITAL INC

Form 990 for tax year 2022

Filed by ACCOMPANY CAPITAL INC.

Totals

Total revenue
$3,673,345
Total expenses
$3,587,047
Contributions and grants received
$2,867,152
Grants paid
$244,932
Program service revenue
$250,964
Investment income
$555,229
Other revenue
$0
Total assets, end of year
$18,103,904
Total liabilities, end of year
$7,676,504
Net assets or fund balances, end of year
$10,427,400
Program services expenses (Part IX)
$2,651,741
Management and general expenses
$742,568
Fundraising expenses
$192,738
Program service expenses (Part III)
$2,651,741

Program services were 73.9% 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)

    $2,505,577

  • 1f · All other contributions, gifts and grants

    $361,575

  • 2a · Program service revenue: PROGRAM FEES

    total $250,964 · related or exempt $250,964

  • 3 · Investment income

    total $555,229 · related or exempt $522,111 · excluded $33,118

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $240,000 · program services $240,000

  • 3 · Grants to foreign organizations and individuals

    total $4,932 · program services $4,932

  • 5 · Compensation of officers, directors and key employees

    total $383,098 · program services $217,701 · management and general $55,132 · fundraising $110,265

  • 7 · Other salaries and wages

    total $1,142,318 · program services $1,107,820 · management and general $22,163 · fundraising $12,335

  • 8 · Pension plan contributions

    total $94,819 · program services $92,736 · management and general $1,595 · fundraising $488

  • 9 · Other employee benefits

    total $146,670 · program services $135,655 · management and general $4,919 · fundraising $6,096

  • 10 · Payroll taxes

    total $112,669 · program services $99,087 · management and general $5,344 · fundraising $8,238

  • 11a · Fees: management

    total $146,301 · management and general $146,301

  • 11c · Fees: accounting

    total $50,250 · management and general $50,250

  • 11g · Fees: other

    total $505,921 · program services $297,442 · management and general $168,413 · fundraising $40,066

  • 13 · Office expenses

    total $76,514 · program services $22,906 · management and general $53,608

  • 14 · Information technology

    total $16,142 · program services $14,196 · management and general $766 · fundraising $1,180

  • 16 · Occupancy

    total $191,097 · program services $168,061 · management and general $9,065 · fundraising $13,971

  • 17 · Travel

    total $74,428 · program services $15,224 · management and general $59,204

  • 20 · Interest

    total $109,181 · program services $91,729 · management and general $17,452

  • 22 · Depreciation, depletion and amortization

    total $1,354 · program services $1,191 · management and general $64 · fundraising $99

  • 23 · Insurance

    total $18,448 · management and general $18,448

  • 24a · Other expenses: CONTRIBUTION EXPENSE

    total $151,627 · program services $125,940 · management and general $25,687

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $64,144 · program services $1,300 · management and general $62,844

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $33,121 · program services $15,015 · management and general $18,106

  • 24d · Other expenses: EQUIPMENT RENTAL

    total $12,991 · program services $806 · management and general $12,185

  • 24e · All other expenses

    total $11,022 · management and general $11,022

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,930,826 · end of year $8,178,396

  • 3 · Pledges and grants receivable

    beginning of year $1,249,105 · end of year $1,115,178

  • 4 · Accounts receivable

    end of year $350,000

  • 7 · Other notes and loans receivable

    beginning of year $6,826,813 · end of year $8,050,385

  • 9 · Prepaid expenses and deferred charges

    beginning of year $47,978 · end of year $65,716

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

    $9,478

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

    $4,344

  • 10c · Land, buildings and equipment, net

    beginning of year $6,488 · end of year $5,134

  • 15 · Other assets

    beginning of year $42,983 · end of year $339,095

  • 17 · Accounts payable and accrued expenses

    beginning of year $279,246 · end of year $310,451

  • 19 · Deferred revenue

    end of year $306,060

  • 23 · Secured mortgages and notes payable

    beginning of year $3,379,168 · end of year $2,751,149

  • 24 · Unsecured notes and loans payable

    beginning of year $3,760,167 · end of year $3,760,167

  • 25 · Other liabilities

    beginning of year $217,387 · end of year $548,677

  • 27 · Net assets without donor restrictions

    beginning of year $9,854,134 · end of year $10,054,105

  • 28 · Net assets with donor restrictions

    beginning of year $614,091 · end of year $373,295

Mission and programs · 2022

Mission

CREATING PATHWAYS TO PROSPERITY FOR NY AREA IMMIGRANT, REFUGEE, AND UNDERSERVED ENTREPRENEURS, SUPPORTING THEM AS THEY LAUNCH AND GROW THEIR BUSINESSES WITH ACCESS TO AFFORDABLE CREDIT, FINANCIAL EDUCATION, TRAINING IN TECHNOLOGY, AND BEST BUSINESS PRACTICES.

Activities or mission (Part I)

CREATE A PATHWAY TO PROSPERITY FOR NEW YORK AREA IMMIGRANT, REFUGEE, AND UNDERSERVED ENTREPRENEURS, THROUGH ACCESS TO AFFORDABLE CREDIT, FINANCIAL EDUCATION, TRAINING IN TECHNOLOGY, AND BEST BUSINESSES PRACTICES.

  • ACCOMPANY CAPITAL ASSISTED MICRO AND SMALL BUSINESS OWNERS TO ACCESS 211 LOANS FOR A TOTAL OF $9,251,500 IN FY23.

    Expenses $2,180,864 · Grants $244,932 · Revenue $773,075

  • A TOTAL OF 5,527 HOURS OF TRAINING AND COUNSELING WAS PROVIDED TO 629 CLIENTS IN ADDITION TO 44 WORKSHOPS FOR A TOTAL OF 82HRS PRESENTED TO 2,172 ATTENDEES, IN FY 2023.

    Expenses $470,877

As filed on the 2022 return.

Listed in Part VII

  • Kwame K Marfo

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Tim Zhakselekov

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Michelle Danso

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kate Hao

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Brest

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Sidhu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carolina Simon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Rubenstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joan Carty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Yanki Tshering

    EXECUTIVE DIRECTOR

    Total calculated
    $229,426
    From this org
    $199,259
    From related orgs
    $0
    Other
    $30,167
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,960
    Bonus
    $27,299
    Other
    $0
    Deferred
    $17,196
    Nontaxable benefits
    $12,971
    Filer's total
    $229,426

  • Leonid Ostrosvky

    CHIEF LENDING OFFICER

    Total calculated
    $157,235
    From this org
    $132,542
    From related orgs
    $0
    Other
    $24,693
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,542
    Bonus
    $10,000
    Other
    $0
    Deferred
    $12,254
    Nontaxable benefits
    $12,439
    Filer's total
    $157,235

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 · 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
2022
Filed
13 August 2024
IRS schema version
2022v5.0
Source object
202412269349301626

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