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Nonprofiteer
← RAINIER VALLEY COMMUNITY DEVELOPMENT FUND

Form 990 for tax year 2023

Filed by RAINIER VALLEY COMMUNITY DEVELOPMENT FUND.

Totals

Total revenue
$1,551,417
Total expenses
$1,474,649
Contributions and grants received
$290,633
Grants paid
$468,375
Program service revenue
$1,164,022
Investment income
$95,137
Other revenue
$1,625
Total assets, end of year
$31,131,128
Total liabilities, end of year
$2,386,790
Net assets or fund balances, end of year
$28,744,338
Program services expenses (Part IX)
$1,101,851
Management and general expenses
$372,798
Fundraising expenses
$0
Program service expenses (Part III)
$1,101,851

Program services were 74.7% 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.

  • 1f · All other contributions, gifts and grants

    $290,633

  • 2a · Program service revenue: LOAN INTEREST

    total $1,100,032 · related or exempt $1,100,032

  • 2b · Program service revenue: LOAN FEES

    total $63,990 · related or exempt $63,990

  • 3 · Investment income

    total $95,137 · excluded $95,137

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $1,625 · excluded $1,625

  • 11e · Other revenue, total

    $1,625

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $468,375 · program services $468,375

  • 5 · Compensation of officers, directors and key employees

    total $161,838 · program services $97,103 · management and general $64,735

  • 7 · Other salaries and wages

    total $286,033 · program services $264,452 · management and general $21,581

  • 8 · Pension plan contributions

    total $2,248 · program services $2,078 · management and general $170

  • 9 · Other employee benefits

    total $7,545 · program services $6,976 · management and general $569

  • 10 · Payroll taxes

    total $38,877 · program services $35,944 · management and general $2,933

  • 11b · Fees: legal

    total $33,988 · management and general $33,988

  • 11c · Fees: accounting

    total $167,812 · management and general $167,812

  • 11g · Fees: other

    total $41,623 · program services $32,896 · management and general $8,727

  • 13 · Office expenses

    total $8,167 · program services $6,687 · management and general $1,480

  • 14 · Information technology

    total $8,117 · program services $6,646 · management and general $1,471

  • 16 · Occupancy

    total $31,668 · program services $25,929 · management and general $5,739

  • 17 · Travel

    total $11,605 · management and general $11,605

  • 20 · Interest

    total $94,589 · program services $94,589

  • 22 · Depreciation, depletion and amortization

    total $22,219 · program services $22,219

  • 23 · Insurance

    total $23,268 · program services $19,051 · management and general $4,217

  • 24a · Other expenses: GRANT PROGRAM COSTS

    total $27,115 · management and general $27,115

  • 24b · Other expenses: COMMUNICATIONS

    total $17,784 · management and general $17,784

  • 24c · Other expenses: DUES AND SPONSORSHIPS

    total $15,593 · program services $15,593

  • 24d · Other expenses: OTHER

    total $6,185 · program services $3,313 · management and general $2,872

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,691,614 · end of year $144,126

  • 2 · Savings and temporary cash investments

    beginning of year $8,677,537 · end of year $6,270,638

  • 7 · Other notes and loans receivable

    beginning of year $19,952,083 · end of year $22,539,420

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,023 · end of year $27,679

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

    $1,665,922

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

    $98,993

  • 10c · Land, buildings and equipment, net

    beginning of year $36,386 · end of year $1,566,929

  • 15 · Other assets

    beginning of year $532,371 · end of year $582,336

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,279 · end of year $49,951

  • 19 · Deferred revenue

    beginning of year $326,421 · end of year $57,788

  • 23 · Secured mortgages and notes payable

    beginning of year $1,513,500 · end of year $2,279,051

  • 27 · Net assets without donor restrictions

    beginning of year $29,044,814 · end of year $28,744,338

Mission and programs · 2023

Mission

THE ORGANIZATION SERVES AS A CATALYST FOR ECONOMIC DEVELOPMENT THAT PROMOTES THE DIVERSITY AND LIVABILITY OF THE RAINIER VALLEY AREA OF SOUTHEAST SEATTLE, WASHINGTON.

  • RVCDF, JOINTLY WITH ANOTHER NONPROFIT COMMUNITY LENDER, PROVIDED TECHNICAL AND FINANCIAL ASSISTANCE IN THE FORM OF GRANTS TO 50 SMALL BUSINESSES IN THE GEOGRAPHIC SERVICE AREA IN SUPPORT OF THEIR BUSINESS OPERATIONS.

    Expenses $600,777 · Grants $468,375

  • THE ORGANIZATION (RVCDF) ACTS AS TRUSTEE FOR A REVOLVING LOAN FUND, PROVIDED BY THE CITY OF SEATTLE, AND ADDITIONAL LOAN CAPITAL TO BENEFIT THE SOUTHEAST SEATTLE COMMUNITY. THE REVOLVING LOAN FUNDS MAY ONLY BE USED FOR COMMUNITY DEVELOPMENT ACTIVITIES IN SPECIFIED AREAS AS DEFINED IN THE TRUST DOCUMENT. IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT AND ADDITIONAL LOAN CAPITAL, RVCDF ADVANCED FUNDS APPROXIMATING $4.7 MILLION FOR THE BUSINESS AND REAL ESTATE LOANS IN 2023.

    Expenses $501,074 · Revenue $1,164,022

As filed on the 2023 return.

Listed in Part VII

  • Alvertis Brooks

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Richard Cassell

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Cleodis Floyd

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mandy Landa

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Rudy Castillo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marlon Turner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Efrem Fesaha

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Tupper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Luciano

    EXECUTIVE DIRECTOR

    Total calculated
    $161,838
    From this org
    $148,667
    From related orgs
    $0
    Other
    $13,171
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,667
    Bonus
    $0
    Other
    $0
    Deferred
    $8,088
    Nontaxable benefits
    $5,083
    Filer's total
    $161,838

  • Robert Williams

    LOAN AND PROGRAM OFFICER

    Total calculated
    $123,398
    From this org
    $113,605
    From related orgs
    $0
    Other
    $9,793
    Hours/week
    40

  • Andrea Sherwood

    PORTFOLIO MANAGER

    Total calculated
    $105,505
    From this org
    $105,505
    From related orgs
    $0
    Other
    $0
    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 · 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

  • NORTHWEST BLACK PIONEERS STEERING COMMITTEE

    $30,000

    PROGRAM SUPPORT

  • LIMENA LLC

    $25,000

    PROGRAM SUPPORT

  • THE BREAKFAST GROUP

    $25,000

    PROGRAM SUPPORT

  • DEBONAIR DECOR COUTURE LLC

    $25,000

    PROGRAM SUPPORT

  • CHAMP BOXING GYM LLC

    $25,000

    PROGRAM SUPPORT

  • BUFFALO SOLDIERS OF SEATTLE

    $25,000

    PROGRAM SUPPORT

  • JACK NICKER BREWING COMPANY LLC

    $20,000

    PROGRAM SUPPORT

  • 23RD AVE BREWERY LLC

    $20,000

    PROGRAM SUPPORT

  • SHAWN MCWASHINGTON DBA BOOSH

    $17,500

    PROGRAM SUPPORT

  • LOYAL LAW GROUP

    $15,000

    PROGRAM SUPPORT

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
8 August 2024
IRS schema version
2023v5.1
Source object
202402229349302000

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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