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Nonprofiteer
← ONE PERCENT FOR AMERICA INC

Form 990 for tax year 2022

Filed by ONE PERCENT FOR AMERICA INC.

Totals

Total revenue
$3,325
Total expenses
$2,161,400
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,325
Investment income
$0
Other revenue
$0
Total assets, end of year
$390,863
Total liabilities, end of year
$1,126,774
Net assets or fund balances, end of year
-$735,911
Program services expenses (Part IX)
$1,911,400
Management and general expenses
$250,000
Fundraising expenses
$0
Program service expenses (Part III)
$1,911,400

Program services were 88.4% 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.

  • 2a · Program service revenue: DONATIONS AND INTEREST

    total $3,325 · related or exempt $3,325

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $818,907 · program services $737,303 · management and general $81,604

  • 8 · Pension plan contributions

    total $67,095 · program services $59,691 · management and general $7,404

  • 9 · Other employee benefits

    total $80,580 · program services $68,394 · management and general $12,186

  • 10 · Payroll taxes

    total $54,652 · program services $49,322 · management and general $5,330

  • 11b · Fees: legal

    total $59,844 · program services $59,844

  • 11c · Fees: accounting

    total $13,765 · program services $6,500 · management and general $7,265

  • 12 · Advertising and promotion

    total $588,648 · program services $588,648

  • 13 · Office expenses

    total $19,495 · program services $7,179 · management and general $12,316

  • 14 · Information technology

    total $303,086 · program services $256,445 · management and general $46,641

  • 16 · Occupancy

    total $32,579 · management and general $32,579

  • 17 · Travel

    total $6,331 · program services $5,191 · management and general $1,140

  • 23 · Insurance

    total $12,578 · management and general $12,578

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $86,130 · program services $55,173 · management and general $30,957

  • 24b · Other expenses: LOAN LOSS RESERVE

    total $17,710 · program services $17,710

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,238,100 · end of year $153,594

  • 7 · Other notes and loans receivable

    beginning of year $2,574 · end of year $210,803

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,532 · end of year $26,466

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,500 · end of year $5,595

  • 25 · Other liabilities

    beginning of year $57,542 · end of year $1,121,179

  • 27 · Net assets without donor restrictions

    beginning of year $1,172,164 · end of year -$735,911

Mission and programs · 2022

Mission

BUILD AN INCLUSIVE FUTURE FOR AMERICA BY DRIVING DOWN THE COST OF FINANCING U.S. CITIZENSHIP FEES FOR MILLIONS OF NEW AMERICANS.

  • BUILD AN INCLUSIVE FUTURE FOR AMERICA BY DRIVING DOWN THE COST OF FINANCING U.S. CITIZENSHIP FEES FOR MILLIONS OF NEW AMERICANS.

    Expenses $1,911,400 · Revenue $3,325

As filed on the 2022 return.

Listed in Part VII

  • Rev James Walsh

    CLERK OF THE BOARD (UNTIL 10/23)

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Charles Clark

    CHAIRMAN OF THE BOARD (UNTIL 10/23)

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Reese Fayde

    BOARD MEMBER (UNTIL 10/23)

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Elyse Cherry

    CEO & EX-OFFIC. BOARD MEMBER

    Total calculated
    $1,007,926
    From this org
    $0
    From related orgs
    $798,134
    Other
    $209,792
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $478,134 related
    Bonus
    $0 + $320,000 related
    Other
    $0
    Deferred
    $0 + $198,300 related
    Nontaxable benefits
    $0 + $11,492 related
    Filer's total
    $0 + $1,007,926 related

  • Dewitt Jones

    EXECUTIVE VP & EX-OFFICIO

    Total calculated
    $489,255
    From this org
    $0
    From related orgs
    $352,707
    Other
    $136,548
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $292,707 related
    Bonus
    $0 + $60,000 related
    Other
    $0
    Deferred
    $0 + $108,300 related
    Nontaxable benefits
    $0 + $28,248 related
    Filer's total
    $0 + $489,255 related

  • Michelle Volpe

    PRESIDENT, LOAN FUND (UNTIL 4/22) & EX-OFFICIO BOA

    Total calculated
    $233,216
    From this org
    $0
    From related orgs
    $126,776
    Other
    $106,440
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $61,776 related
    Bonus
    $0 + $65,000 related
    Other
    $0
    Deferred
    $0 + $99,713 related
    Nontaxable benefits
    $0 + $6,727 related
    Filer's total
    $0 + $233,216 related

  • Lisa Zappala

    CFO, TREASURER

    Total calculated
    $416,874
    From this org
    $0
    From related orgs
    $307,046
    Other
    $109,828
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,046 related
    Bonus
    $0 + $70,000 related
    Other
    $0
    Deferred
    $0 + $107,130 related
    Nontaxable benefits
    $0 + $2,698 related
    Filer's total
    $0 + $416,874 related

  • E Matthew Gautieri

    SVP, CONTROLLER, CLERK (AS OF 10/23)

    Total calculated
    $299,040
    From this org
    $0
    From related orgs
    $243,816
    Other
    $55,224
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,966 related
    Bonus
    $0 + $36,850 related
    Other
    $0
    Deferred
    $0 + $14,220 related
    Nontaxable benefits
    $0 + $41,004 related
    Filer's total
    $0 + $299,040 related

  • Jaime Escott

    SVP, DIGITAL MARKETING, OPA

    Total calculated
    $253,913
    From this org
    $238,710
    From related orgs
    $0
    Other
    $15,203
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,260
    Bonus
    $23,450
    Other
    $0
    Deferred
    $13,740
    Nontaxable benefits
    $1,463
    Filer's total
    $253,913

  • Lubna Elia

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $248,066
    From this org
    $0
    From related orgs
    $231,098
    Other
    $16,968
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,098 related
    Bonus
    $0 + $20,000 related
    Other
    $0
    Deferred
    $0 + $14,340 related
    Nontaxable benefits
    $0 + $2,628 related
    Filer's total
    $0 + $248,066 related

  • Kathryn McHugh

    SVP, COMMERCIAL LENDING

    Total calculated
    $262,975
    From this org
    $0
    From related orgs
    $223,889
    Other
    $39,086
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,842 related
    Bonus
    $0 + $36,047 related
    Other
    $0
    Deferred
    $0 + $8,311 related
    Nontaxable benefits
    $0 + $30,775 related
    Filer's total
    $0 + $262,975 related

  • Andrew Koh

    SVP, OPERATIONS

    Total calculated
    $279,748
    From this org
    $0
    From related orgs
    $215,611
    Other
    $64,137
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,986 related
    Bonus
    $0 + $30,625 related
    Other
    $0
    Deferred
    $0 + $12,750 related
    Nontaxable benefits
    $0 + $51,387 related
    Filer's total
    $0 + $279,748 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE CEO'S SALARY IS PAID BY RELATED ORGANIZATIONS. EVERY FEW YEARS, A SALARY SURVEY OF THE INDUSTRY IS PERFORMED TO ENSURE THAT THE ORGANIZATION'S SALARY EXPENSES ARE REASONABLE. THE EXECUTIVE COMMITTEE OF THE BOARD MEETS TO SET THE SALARY RANGES FOR ALL POSITIONS AND TO APPROVE THE CEO'S COMPENSATION FOR THE YEAR. THE EXECUTIVE COMMITTEE KEEPS MINUTES OF EACH MEETING.
PART I, LINE 4B
ELYSE CHERRY, CEO, 457F PLAN. DEWITT JONES, EXECUTIVE VP, 457F PLAN. MICHELLE VOLPE, SENIOR VP, 457F PLAN. LISA ZAPPALA, CFO, 457F PLAN.

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.

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.

  • BLUEHUB CAPITAL INC

    501(C)(3) · HOLDING COMPANY FOR AFFILIATES THAT PROVIDE CAPITAL AND COMMUNITY LENDING. · MA

  • BCLF VENTURES INC

    501(C)(3) · COMMUNITY VENTURE CAPITAL · MA

    Directly controlled by BLUEHUB CAPITAL INC

  • BCLF MANAGED ASSETS CORP

    501(C)(3) · DEVELOPS NEW BUSINESS INITIATIVES AND FUNDING VEHICLES FOR LOW INCOME · MA

    Directly controlled by BLUEHUB CAPITAL INC

  • BLUEHUB LOAN FUND INC

    501(C)(3) · COMMUNITY LENDING · MA

    Directly controlled by BLUEHUB CAPITAL INC

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313189349307686

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