Totals
- Total revenue
- $8,722,982
- Total expenses
- $5,749,930
- Contributions and grants received
- $7,298,987
- Grants paid
- $0
- Program service revenue
- $1,272,559
- Investment income
- $61,138
- Other revenue
- $90,298
- Total assets, end of year
- $11,756,323
- Total liabilities, end of year
- $3,116,351
- Net assets or fund balances, end of year
- $8,639,972
- Program services expenses (Part IX)
- $4,399,172
- Management and general expenses
- $810,275
- Fundraising expenses
- $540,483
- Program service expenses (Part III)
- $4,399,172
Program services were 76.5% 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)
$858,050
-
1f · All other contributions, gifts and grants
$6,440,937
-
2a · Program service revenue: CONSULTING INCOME
total $1,272,559 · related or exempt $1,272,559
-
3 · Investment income
total $61,138 · related or exempt $61,138
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$14,500
-
8c · Net income from fundraising events
total $14,500
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: OTHER INCOME
total $75,798 · related or exempt $75,798
-
11e · Other revenue, total
$75,798
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $681,691 · program services $456,733 · management and general $109,071 · fundraising $115,887
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,534,210 · program services $1,034,877 · management and general $252,413 · fundraising $246,920
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $285,273 · program services $174,778 · management and general $84,819 · fundraising $25,676
-
10 · Payroll taxes
total $172,333 · program services $110,319 · management and general $47,793 · fundraising $14,221
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $7,231 · program services $902 · management and general $639 · fundraising $5,690
-
13 · Office expenses
total $63,569 · program services $17,464 · management and general $40,122 · fundraising $5,983
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $67,620 · program services $39,815 · management and general $27,805
-
17 · Travel
total $96,939 · program services $43,684 · management and general $46,404 · fundraising $6,851
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $18,027 · program services $17,117 · management and general $910
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $22,217 · management and general $22,217
-
24a · Other expenses: OUTSIDE SERVICE FEES
total $2,183,811 · program services $2,060,956 · management and general $34,960 · fundraising $87,895
-
24b · Other expenses: EVENTS
total $156,481 · program services $137,177 · management and general $3,463 · fundraising $15,841
-
24c · Other expenses: PROVISION FOR SEMIA LOAN LOSSE
total $144,265 · program services $144,265
-
24d · Other expenses: DUES & SUBSCRIPTIONS
total $110,218 · program services $59,804 · management and general $36,323 · fundraising $14,091
-
24e · All other expenses
total $206,045 · program services $101,281 · management and general $103,336 · fundraising $1,428
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,211,256 · end of year $9,590,665
-
2 · Savings and temporary cash investments
beginning of year $21,031 · end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $1,510,502 · end of year $234,344
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $1,355,769 · end of year $1,373,755
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $6,126 · end of year $6,126
-
10a · Land, buildings and equipment: cost or other basis
$57,130
-
10b · Land, buildings and equipment: accumulated depreciation
$57,130
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $185,646 · end of year $351,117
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $260,863 · end of year $200,316
-
17 · Accounts payable and accrued expenses
beginning of year $955,325 · end of year $200,112
-
19 · Deferred revenue
beginning of year $2,618,612 · end of year $1,193,650
-
24 · Unsecured notes and loans payable
beginning of year $1,044,141 · end of year $1,514,747
-
25 · Other liabilities
beginning of year $266,195 · end of year $207,842
-
27 · Net assets without donor restrictions
beginning of year $5,666,920 · end of year $8,639,972
Mission and programs · 2023
Mission
TO SERVE UNDERINVESTED COMMUNITIES AND BUILD THRIVING LOCAL ECONOMIES BY IMPROVING ACCESS TO TRANSFORMATIVE CAPITAL, AND ADVANCING POLICY THROUGH COLLABORATIVE RESEARCH AND COMMUNITY-DRIVEN ADVOCACY.
Activities or mission (Part I)
INCLUSIVE ACTION FOR THE CITY (IAC) IS A NONPROFIT ORGANIZATION AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WHOSE MISSION IS TO SERVE UNDERINVESTED COMMUNITIES AND BUILD THRIVING LOCAL ECONOMIES BY IMPROVING ACCESS TO TRANSFORMATIVE CAPITAL, AND ADVANCING POLICY THROUGH COLLABORATIVE RESEARCH AND COMMUNITY-DRIVEN ADVOCACY. WE ENVISION DIVERSE COMMUNITIES THAT HAVE EQUITABLE AND SUSTAINED ACCESS TO RESOURCES, AND EXERCISE AGENCY OVER THEIR FUTURES. IACS STRATEGY TO ACHIEVE THIS MISSION AND VISION IS THREEFOLD: ADDRESS IMMEDIATE NEEDS BY PROVIDING ACCESS TO CAPITAL PAIRED WITH WRAPAROUND SERVICES THAT SUPPORT LOW-INCOME, BIPOC AND IMMIGRANT SMALL BUSINESSES AND ENTREPRENEURS; CREATE LONG-TERM SYSTEMS CHANGE THROUGH POLICY ADVOCACY AND COMMUNITY RESEARCH; AND BUILD GENERATIONAL WEALTH THROUGH COMMUNITY INNOVATION INITIATIVES INCLUDING LAND AND REAL ESTATE PROGRAMS TO PREVENT DISPLACEMENT.
-
INCLUSIVE ACTION FOR THE CITY IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI)THAT SERVES LOS ANGELES COUNTY AND BEYOND THROUGH DUAL INTERVENTIONS: RESEARCH-INFORMED ADVOCACY AND COMMUNITY CENTERED MICROFINANCE. INCLUSIVE ACTION FOR THE CITY'S PROGRAMS AND SEVICES ARE DIVIDED INTO TWO AREAS OF WORK: ACCESS TO CAPITAL AND POLICY ADVOCACY AND RESEARCH, EACH DESIGNED TO SUPPORT THE EQUITABLE ECONOMIC DEVELOPMENT IN LA'S MOST VULNERABLE COMMUNITIES.OUR ACCESS TO CAPITAL PROGRAMS PROVIDE CAPITAL AND BUSINESS COACHING TO LOW-INCOME ENTREPRENEURS WHO ARE HISTORICALLY UNDERSERVED BY FINANCIAL INSTITUTIONS AND DEPRIVED OF OPPORTUNITIES TO INVEST IN THEIR BUSINESSES. IACS LOW-INTEREST LOAN PROGRAM, THE SEMIA FUND HAS PROVIDED OVER $3.5M IN LOW-INTEREST LOANS TO NEARLY 300 ENTREPRENEURS IN THE LA COUNTY AREA. IACS APPROACH TO LENDING IS UNIQUE IN A FEW KEY WAYS: ONE, IAC SERVES A HIGH-NEED AND COMPLETELY OVERLOOKED POPULATION OF LOW-INCOME MICRO-ENTREPRENEURS, INCLUDING STREET VENDORS, HOME-BASED BUSINESSES, AND MOM-AND-POP SHOPS; TWO, IAC OFFERS BUSINESS COACHING WITH EVERY LOAN, WHICH IS A NECESSITY FOR THE POPULATION IAC SERVES BUT A RARITY IN THE INDUSTRY; THREE, IAC USES BESPOKE CHARACTER-BASED LENDING METHODS THAT ENABLES THE TAKING ON OF CLIENTS THAT ARE DEEMED RISKY BY OTHERS (DUE TO AGE, IMMIGRATION STATUS, LACK OF BUSINESS FORMALIZATION, FINANCIAL BUSINESS SYSTEMS, DOCUMENTATION OF BUSINESS OWNER ETC.); AND FOUR, IAC STAFF ARE FROM COMMUNITIES OF COLOR AND IMMIGRANTS, ENDOWING THEM WITH EXPERIENCE AND CAPABILITIES TO UNDERSTAND IAC CLIENTS NEEDS.IN ADDITION TO THE SEMI'A FUND IAC ALSO RUNS THE COMMUNITY-OWNED REAL ESTATE (CORE) PROJECT, A JOINT PROJECT WITH EAST LA COMMUNITY CORPORATION AND LITTLE TOKYO SERVICE CENTER TO COMBAT GENTRIFICATION BY ACQUIRING, REHABILITATING, AND PRESERVING COMMERCIAL PROPERTIES IN RAPIDLY GENTRIFYING NEIGHBORHOODS AND INCREASE ACCESS TO AFFORDABLE COMMERCIAL SPACE FOR LOCALLY-OWNED BUSINESSES. THROUGH THIS INITIATIVE, IAC AND ITS PARTNERS SUCCESSFULLY ACQUIRED AND REHABILITATED FIVE COMMERCIAL PROPERTIES AND ARE CLOSE TO ACHIEVING FULL OCCUPANCY. THIS YEAR, IAC IS DEVELOPING A STRATEGY TO CREATE PATHWAYS TO TENANT-OWNERSHIP FOR THE CORE TENANTS. LASTLY, IAC IS ALSO WORKING ON LAUNCHING A NEW ITERATION OF THE RESTORE FUND, A SOCIAL IMPACT FUND THAT WILL CONNECT MARGINALIZED ENTREPRENEURS WITH EQUITY AND SOCIAL CAPITAL TO HELP THEIR BUSINESS GROW AND THRIVE.OUR POLICY ADVOCACY AND RESEARCH EFFORTS FOCUS ON CREATING JUST AND EQUITABLEECONOMIC CONDITIONS FOR LA'S MOST VULNERABLE ENTREPRENEURS. OUR TOP POLICY PROJECT IS CO-LEADING THE LA STREET VENDOR CAMPAIGN, A CITYWIDE EFFORT THAT LEGALIZED STREETVENDING IN THE CITY OF LA IN 2017 AND DECRIMINALIZED THE ACTIVITY ACROSS CALIFORNIAIN 2018. SINCE THEN, THE CAMPAIGN HAS FOCUSED ON MONITORING THE IMPLEMENTATION OFSTREET VENDING POLICY AND WORKS AT KEY INTERVENTION POINTS TO ADVOCATE FOR MOREEQUITABLE CONDITIONS FOR STREET VENDORS. IN ADDITION TO THE STREET VENDOR CAMPAIGN,INCLUSIVE ACTION ALSO PARTICIPATE IN OTHER LOCAL COALITIONS TO SUPPORT LA'S MOSTVULNERABLE COMMUNITIES INCLUDING: THE HEALTHY LA COALITION, THE LA SMALL BUSINESSALLIANCE FOR EQUITABLE COMMUNITIES, AND THE IMMIGRATION INTEGRATION TASK FORCE.
Expenses $4,399,172
As filed on the 2023 return.
Listed in Part VII
-
Rudolph EspinozaRUDOLPH ESPINOZA
Executive Dir.
- Total calculated
- $205,640
- From this org
- $199,650
- From related orgs
- $0
- Other
- $5,990
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $192,150
- Bonus
- $7,500
- Other
- not reported
- Deferred
- not reported + $5,990 related
- Nontaxable benefits
- not reported
- Filer's total
- $199,650 + $5,990 related
-
Nicole S AnandNICOLE S ANAND
DEPUTY DIRECTOR
- Total calculated
- $154,279
- From this org
- $149,930
- From related orgs
- $0
- Other
- $4,349
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,930
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $4,349 related
- Nontaxable benefits
- not reported
- Filer's total
- $149,930 + $4,349 related
-
Julie Jae JungJULIE JAE JUNG
FINANCE DIRECTOR
- Total calculated
- $119,339
- From this org
- $119,339
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Andrea C AvilaANDREA C AVILA
POLICY DIRECTOR
- Total calculated
- $110,670
- From this org
- $110,670
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Estefania B Lopez PerezESTEFANIA B LOPEZ PEREZ
SR POLICY ASSOCIAT
- Total calculated
- $102,102
- From this org
- $102,102
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
David HsuDAVID HSU
Co-Chair
- Total calculated
- $0
- Hours/week
- 1
-
Maria G CabildoMARIA G CABILDO
Co-Chair
- Total calculated
- $0
- Hours/week
- 1
-
Keandra Cylear DoodsKEANDRA CYLEAR DOODS
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Ami Pascual SpearAMI PASCUAL SPEAR
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Remy De La PezaREMY DE LA PEZA
Director
- Total calculated
- $0
- Hours/week
- 1
-
Angie Jean MarieANGIE JEAN MARIE
Director
- Total calculated
- $0
- Hours/week
- 1
-
Grace KimGRACE KIM
Director
- Total calculated
- $0
- Hours/week
- 1
-
Roger PerezROGER PEREZ
Director
- Total calculated
- $0
- Hours/week
- 1
-
Bill RoschenBILL ROSCHEN
Director
- Total calculated
- $0
- Hours/week
- 1
-
Veronica SaldanaVERONICA SALDANA
Director
- 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. 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 · Written employment contract
- 3 · Compensation survey or study
- 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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
CORE LEVERAGE LENDER LLC
COMMERCIAL REAL ESTATE · CA · 50% owned · share of income -$150,461 · share of assets $151,903
-
COMMUNITY OWNED REAL ESTATE LLC
COMMERCIAL REAL ESTATE · CA · 30% owned · share of income -$106,765 · share of assets -$211,656
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
FOR THE CITY VENTURES LLC
C CORP · MICRO-EQUITY FUNDING · CA · 100% owned · controlled entity
Directly controlled by IAC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 29 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413059349303061
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