Form 990 for tax year 2023
Filed by COOPERATIVE FUND OF THE NORTHEAST INC.
Totals
- Total revenue
- $4,114,478
- Total expenses
- $3,238,569
- Contributions and grants received
- $1,642,492
- Grants paid
- $0
- Program service revenue
- $2,242,412
- Investment income
- $229,574
- Other revenue
- $0
- Total assets, end of year
- $50,443,237
- Total liabilities, end of year
- $36,796,474
- Net assets or fund balances, end of year
- $13,646,763
- Program services expenses (Part IX)
- $2,694,130
- Management and general expenses
- $520,965
- Fundraising expenses
- $23,474
- Program service expenses (Part III)
- $2,694,130
Program services were 83.2% 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)
$1,360,047
-
1f · All other contributions, gifts and grants
$282,445
-
2a · Program service revenue: INTEREST ON PROGRAM LO
total $2,115,546 · related or exempt $2,115,546
-
2b · Program service revenue: OTHER PROGRAM LOAN FEE
total $126,866 · related or exempt $126,866
-
3 · Investment income
total $229,574 · excluded $229,574
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $319,160 · program services $223,412 · management and general $92,556 · fundraising $3,192
-
7 · Other salaries and wages
total $1,010,416 · program services $707,291 · management and general $293,021 · fundraising $10,104
-
8 · Pension plan contributions
total $17,662 · program services $12,363 · management and general $5,122 · fundraising $177
-
9 · Other employee benefits
total $37,032 · program services $25,922 · management and general $10,740 · fundraising $370
-
10 · Payroll taxes
total $98,771 · program services $69,139 · management and general $28,644 · fundraising $988
-
11b · Fees: legal
total $164,512 · program services $136,545 · management and general $27,967
-
11c · Fees: accounting
total $32,263 · program services $26,778 · management and general $5,485
-
11g · Fees: other
total $102,713 · program services $86,099 · management and general $9,832 · fundraising $6,782
-
12 · Advertising and promotion
total $31,245 · program services $31,245
-
13 · Office expenses
total $16,544 · program services $11,784 · management and general $2,899 · fundraising $1,861
-
14 · Information technology
total $60,644 · program services $45,483 · management and general $15,161
-
19 · Conferences, conventions and meetings
total $86,021 · program services $64,516 · management and general $21,505
-
20 · Interest
total $644,817 · program services $644,817
-
23 · Insurance
total $9,297 · program services $4,648 · management and general $4,649
-
24a · Other expenses: TECHNICAL ASSISTANCE
total $395,557 · program services $395,557
-
24b · Other expenses: UNFUNDED COMMITMENT EXP
total $181,513 · program services $181,513
-
24c · Other expenses: ADDITION TO LOSS RESERV
total $16,867 · program services $16,867
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $8,684 · program services $6,513 · management and general $2,171
-
24e · All other expenses
total $4,851 · program services $3,638 · management and general $1,213
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,964,041 · end of year $7,968,989
-
2 · Savings and temporary cash investments
beginning of year $15,503,694 · end of year $4,388,840
-
3 · Pledges and grants receivable
end of year $61,250
-
4 · Accounts receivable
end of year $89,714
-
7 · Other notes and loans receivable
beginning of year $28,384,241 · end of year $37,857,997
-
15 · Other assets
beginning of year $78,947 · end of year $76,447
-
17 · Accounts payable and accrued expenses
beginning of year $352,211 · end of year $370,760
-
19 · Deferred revenue
beginning of year $524,233 · end of year $1,499,328
-
22 · Loans and payables to officers and key people
beginning of year $88,545 · end of year $212,891
-
25 · Other liabilities
beginning of year $34,195,080 · end of year $34,713,495
-
27 · Net assets without donor restrictions
beginning of year $12,440,434 · end of year $13,316,343
-
28 · Net assets with donor restrictions
beginning of year $330,420 · end of year $330,420
Mission and programs · 2023
Mission
: CFNE'S MISSION IS TO WORK FOR ECONOMIC, SOCIAL, AND RACIAL JUSTICE BY ADVANCING COMMUNITY BASED, COOPERATIVE, AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES.
Activities or mission (Part I)
TO ADVANCE COMMUNITY BASED, COOPERATIVE AND DEMOCRATICALLY OWNED OR MANAGED ENTERPRISES.
-
IN FURTHERANCE OF THIS MISSION, CFNE MAKES LOANS, PROVIDES OTHER ALTERNATIVE FINANCING, AND OFFERS TECHNICAL ASSISTANCE TO COOPERATIVE ORGANIZATIONS AND SIMILAR ENTERPRISES WITH A PREFERENCE TO ASSISTING COOPERATIVES IN LOW INCOME COMMUNITIES, AND BY OFFERING AN INVESTMENT OPPORTUNITY THAT PROMOTES SOCIALLY CONSCIOUS ENTERPRISE.
Expenses $2,694,130 · Revenue $2,242,412
As filed on the 2023 return.
Listed in Part VII
-
Aliana PineiroALIANA PINEIRO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Amethyst CareyAMETHYST CAREY
TRUSTEE
- Total calculated
- $5,000
- From this org
- $5,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Andy DanforthANDY DANFORTH
TREASURER
- Total calculated
- $0
- Hours/week
- 4
-
Bonnie HudspethBONNIE HUDSPETH
VICE-PRESIDENT
- Total calculated
- $3,333
- From this org
- $3,333
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Clark ArringtonCLARK ARRINGTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Daniel RossDANIEL ROSS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Duke BouchardDUKE BOUCHARD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Jon ReskeJON RESKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Jonah Fertig-BurdJONAH FERTIG-BURD
CLERK
- Total calculated
- $0
- Hours/week
- 4
-
Juan LeytonJUAN LEYTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Kimberly R LyleKIMBERLY R LYLE
PRESIDENT
- Total calculated
- $5,000
- From this org
- $5,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Marilyn SchollMARILYN SCHOLL
OUTGOING TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Matthew FeinsteinMATTHEW FEINSTEIN
OUTGOING TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Susan EllisSUSAN ELLIS
OUTGOING TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Dorian GregoryDORIAN GREGORY
DEPUTY EXECUTIVE DIRECTOR
- Total calculated
- $146,548
- From this org
- $136,600
- From related orgs
- $0
- Other
- $9,948
- Hours/week
- 40
-
Micha JosephyMICHA JOSEPHY
EXECUTIVE DIRECTOR
- Total calculated
- $159,279
- From this org
- $148,960
- From related orgs
- $0
- Other
- $10,319
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,960
- Bonus
- $1,000
- Other
- $0
- Deferred
- $4,469
- Nontaxable benefits
- $5,850
- Filer's total
- $159,279
-
Carolyn Edsell-VetterCAROLYN EDSELL-VETTER
PROGRAM DIRECTOR
- Total calculated
- $117,378
- From this org
- $108,280
- From related orgs
- $0
- Other
- $9,098
- 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. 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 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 7
- INCLUDED IN COLUMN B(II) ARE AMOUNTS REPRESENTING BONUSES. THESE AMOUNTS WERE APPROVED BY THE BOARD AND INCLUDED IN THE INDIVIDUAL'S W-2.
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.
-
COOPERATIVE CAPITAL FUND OF NEW ENGLAND
501(C)(3) · FINANCIAL AND EDUCATIONAL ASSISTANCE TO NONPROFITS · MA · controlled entity
Directly controlled by CFNE
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403039349301995
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