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← PEOPLE-PROVIDING EQUAL OPPORTUNITIES PROMOTING LEARNING

Form 990 for tax year 2023

Filed by PEOPLE-PROVIDING EQUAL OPPORTUNITIES PROMOTING LEARNING.

Totals

Total revenue
$3,146,582
Total expenses
$2,972,835
Contributions and grants received
$2,642,963
Grants paid
$964,053
Program service revenue
$227,610
Investment income
$276,009
Other revenue
$0
Total assets, end of year
$10,582,723
Total liabilities, end of year
$6,144,335
Net assets or fund balances, end of year
$4,438,388
Program services expenses (Part IX)
$2,737,234
Management and general expenses
$177,034
Fundraising expenses
$58,567
Program service expenses (Part III)
$2,737,234

Program services were 92.1% 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)

    $329,212

  • 1f · All other contributions, gifts and grants

    $2,313,751

  • 2a · Program service revenue: LOAN FEES , FIN SVCS

    total $227,610 · related or exempt $227,610

  • 3 · Investment income

    total $276,009 · related or exempt $276,009

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $964,053 · program services $964,053

  • 5 · Compensation of officers, directors and key employees

    total $93,235 · program services $75,586 · management and general $16,802 · fundraising $847

  • 7 · Other salaries and wages

    total $595,101 · program services $482,450 · management and general $107,247 · fundraising $5,404

  • 9 · Other employee benefits

    total $23,357 · program services $18,936 · management and general $4,208 · fundraising $213

  • 10 · Payroll taxes

    total $59,336 · program services $48,142 · management and general $10,694 · fundraising $500

  • 11c · Fees: accounting

    total $12,000 · management and general $12,000

  • 11g · Fees: other

    total $108,026 · program services $56,825 · management and general $4,903 · fundraising $46,298

  • 12 · Advertising and promotion

    total $68,585 · program services $65,471 · management and general $3,114

  • 13 · Office expenses

    total $41,399 · program services $39,519 · management and general $1,880

  • 16 · Occupancy

    total $166,431 · program services $162,257 · management and general $4,174

  • 17 · Travel

    total $58,697 · program services $51,688 · management and general $2,665 · fundraising $4,344

  • 19 · Conferences, conventions and meetings

    total $13,266 · program services $12,664 · management and general $602

  • 20 · Interest

    total $74,487 · program services $74,487

  • 22 · Depreciation, depletion and amortization

    total $82,986 · program services $80,687 · management and general $2,299

  • 23 · Insurance

    total $4,305 · program services $4,110 · management and general $195

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $453,150 · program services $453,150

  • 24b · Other expenses: PROCESSING FEES

    total $70,387 · program services $67,191 · management and general $3,196

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $44,451 · program services $42,433 · management and general $2,018

  • 24d · Other expenses: DEVELOPMENT SERVICES

    total $20,000 · program services $20,000

  • 24e · All other expenses

    total $19,583 · program services $17,585 · management and general $1,037 · fundraising $961

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $971,546 · end of year $984,286

  • 4 · Accounts receivable

    beginning of year $522,207 · end of year $181,539

  • 5 · Loans and receivables from officers and key people

    end of year $661,846

  • 7 · Other notes and loans receivable

    beginning of year $12,330,551 · end of year $6,041,753

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $6,324

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

    $2,235,788

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

    $172,731

  • 10c · Land, buildings and equipment, net

    beginning of year $2,016,807 · end of year $2,063,057

  • 12 · Investments: other securities

    beginning of year $0 · end of year $643,918

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,405 · end of year $57,834

  • 19 · Deferred revenue

    beginning of year $452,005 · end of year $1,193,619

  • 24 · Unsecured notes and loans payable

    beginning of year $10,854,137 · end of year $4,892,882

  • 27 · Net assets without donor restrictions

    beginning of year $4,511,564 · end of year $4,438,388

Mission and programs · 2023

Mission

PEOPLE TRUST'S PRIMARY PURPOSE IS TO PROMOTE COMMUNITY DEVELOPMENT BY PROVIDING CREDIT COUNSELING SERVICES, FINANCIAL SUPPORT AND LITERACY FOR COMMUNITIES THAT WOULD OTHERWISE NOT RECEIVE SAID OPPORTUNITIES. PEOPLE TRUST PLEDGES TO CHALLENGE WHAT HAS BECOME TRADITION IN TODAY'S FLUCTUATING SOCIO-ECONOMICAL SYSTEM. THE GOAL IS TO CREATE AVENUES FOR AN ELEVATED UNDERSTANDING OF FINANCIAL STABILITY BY STIMULATING AND MOTIVATING AN UNTAPPED REGION OF THE ECONOMY AND THE COMMUNITIES IN WHICH THEY DWELL.

Activities or mission (Part I)

PROVIDE FINANCIAL PRODUCTS AND SERVICES TO THE LOW AND MODERATE INCOME COMMUNITIES.

  • PROVIDE TECHNICAL ASSISTANCE, FINANCIAL EDUCATION, AND FINANCIAL ASSISTANCE THROUGH GRANTS CONSUMER LOANS, AND BUSINESS LOANS.

    Expenses $2,633,169 · Grants $859,988 · Revenue $503,619

  • EMERGENCY RENTAL ASSISTANCE

    Expenses $104,065 · Grants $104,065

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

Listed in Part VII

  • Arlo Washington

    PRESIDENT

    Total calculated
    $91,063
    From this org
    $91,063
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Chris Porter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Freddie Ratliff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Greg Mays

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Monica Hale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Marshall Sr

    DIRECTOR

    Total calculated
    $2,172
    From this org
    $2,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Debony Washington

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

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.

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.

  • PEOPLE TRUST COMMUNITY FEDERAL CREDIT UNION

    501(C)(1) · CREDIT UNION · AR

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403209349308275

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