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← MCLENNAN COMMUNITY INVESTMENT FUND

Form 990 for tax year 2023

Filed by MCLENNAN COMMUNITY INVESTMENT FUND.

Totals

Total revenue
$331,407
Total expenses
$268,612
Contributions and grants received
$316,215
Grants paid
$0
Program service revenue
$15,192
Investment income
$0
Other revenue
$0
Total assets, end of year
$541,068
Total liabilities, end of year
$12,097
Net assets or fund balances, end of year
$528,971
Program services expenses (Part IX)
$231,308
Management and general expenses
$36,751
Fundraising expenses
$553
Program service expenses (Part III)
$268,613

Program services were 86.1% 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)

    $305,000

  • 1f · All other contributions, gifts and grants

    $11,215

  • 2a · Program service revenue: Lending Program

    total $15,192 · related or exempt $15,192

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $157,676 · program services $136,946 · management and general $20,730

  • 9 · Other employee benefits

    total $12,597 · program services $10,941 · management and general $1,656

  • 10 · Payroll taxes

    total $12,062 · program services $10,476 · management and general $1,586

  • 11a · Fees: management

    total $3,225 · program services $1,612 · management and general $1,613

  • 11c · Fees: accounting

    total $19,250 · program services $19,250

  • 11g · Fees: other

    total $28,800 · program services $22,176 · management and general $6,624

  • 12 · Advertising and promotion

    total $11,058 · program services $9,399 · management and general $1,106 · fundraising $553

  • 13 · Office expenses

    total $5,695 · program services $4,556 · management and general $1,139

  • 14 · Information technology

    total $2,459 · program services $1,967 · management and general $492

  • 16 · Occupancy

    total $8,400 · program services $6,720 · management and general $1,680

  • 17 · Travel

    total $5,350 · program services $5,350

  • 19 · Conferences, conventions and meetings

    total $915 · program services $915

  • 23 · Insurance

    total $625 · program services $500 · management and general $125

  • 24e · All other expenses

    total $500 · program services $500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $236,470 · end of year $359,132

  • 2 · Savings and temporary cash investments

    beginning of year $124,754 · end of year $54,622

  • 7 · Other notes and loans receivable

    beginning of year $112,953 · end of year $127,314

  • 17 · Accounts payable and accrued expenses

    end of year $297

  • 19 · Deferred revenue

    beginning of year $177,582 · end of year $0

  • 25 · Other liabilities

    beginning of year $8,000 · end of year $11,800

  • 27 · Net assets without donor restrictions

    beginning of year $166,983 · end of year $109,566

  • 28 · Net assets with donor restrictions

    beginning of year $121,612 · end of year $419,405

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0

Mission and programs · 2023

Mission

to serve small business owners lacking access to traditional banking systems by offering access to capital and financial how-to assistance

  • Mclennan Community Investment Fund (McCif) is a financing entity that obtain a certification from the Community Development Financial Institutions Fund of the US Treasury Department for the purpose of providing loans to small business owners who have not had access to capital provided by traditional financial institutions such as banks, savings and loans, and credit unions. The loan program is McCif's only program activity.

    Expenses $268,613 · Grants $305,000 · Revenue $26,407

As filed on the 2023 return.

Listed in Part VII

  • Cris Houston

    Executive Director

    Total calculated
    $16,411
    From this org
    $16,411
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ilda Sabido

    Assistant Program Manager

    Total calculated
    $42,865
    From this org
    $42,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Eduardo Vazquez

    Loan Program Director

    Total calculated
    $60,000
    From this org
    $60,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jane Allen

    Executive Director

    Total calculated
    $38,400
    From this org
    $38,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

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
6 January 2025
IRS schema version
2023v6.0
Source object
202520159349300067

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