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← MCLENNAN COMMUNITY INVESTMENT FUND

Form 990 for tax year 2022

Filed by MCLENNAN COMMUNITY INVESTMENT FUND.

Totals

Total revenue
$289,788
Total expenses
$159,601
Contributions and grants received
$280,840
Grants paid
$0
Program service revenue
$1,097
Investment income
$7,851
Other revenue
$0
Total assets, end of year
$474,177
Total liabilities, end of year
$8,000
Net assets or fund balances, end of year
$466,177
Program services expenses (Part IX)
$134,403
Management and general expenses
$24,215
Fundraising expenses
$983
Program service expenses (Part III)
$134,403

Program services were 84.2% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $267,835

  • 1f · All other contributions, gifts and grants

    $13,005

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Fees & Expenses Received - Loan Program

    total $1,097 · related or exempt $1,097 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $7,851 · related or exempt $7,851 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $95,497 · program services $81,281 · management and general $14,216 · fundraising $0

  • 9 · Other employee benefits

    total $8,979 · program services $7,642 · management and general $1,337 · fundraising $0

  • 10 · Payroll taxes

    total $7,271 · program services $6,189 · management and general $1,082 · fundraising $0

  • 11g · Fees: other

    total $12,976 · program services $9,992 · management and general $2,984

  • 12 · Advertising and promotion

    total $5,984 · program services $5,087 · management and general $598 · fundraising $299

  • 13 · Office expenses

    total $8,142 · program services $6,514 · management and general $1,628

  • 14 · Information technology

    total $6,838 · program services $5,129 · management and general $1,025 · fundraising $684

  • 16 · Occupancy

    total $6,196 · program services $4,957 · management and general $1,239

  • 17 · Travel

    total $3,483 · program services $3,483

  • 19 · Conferences, conventions and meetings

    total $3,705 · program services $3,705

  • 23 · Insurance

    total $530 · program services $424 · management and general $106

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $85,259 · end of year $134,804

  • 2 · Savings and temporary cash investments

    beginning of year $141,421 · end of year $226,420

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $92,611 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $26,267 · end of year $112,953

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,568 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

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

  • 27 · Net assets without donor restrictions

    beginning of year $302,103 · end of year $388,595

  • 28 · Net assets with donor restrictions

    beginning of year $33,887 · end of year $77,582

Mission and programs · 2022

Mission

To promote economic development in economically disadvantaged areas of McLennan County, Texas, by providing financing for new and growing businesses that create jobs and economic activity not otherwise available through traditional financing sources. It is seeking certification by the United States Treasury Department as a Community Development Financial Institution and financial aid in carrying out its mission.

Activities or mission (Part I)

The organization was organized as a community nonprofit corporation to become certified by the U.S. Treasury Department as a Community Development Financial Institution. Its mission is to make financing available to small businesses who do not have access to traditional sources of capital.

  • McLennan Community Investment Fund (McCIF) is a financing entity that has applied to the Community Development Financial Institutions Fund of the U.S. Treasury Department for certification as a Community Development Financial Institution 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. Utilizing funds provided by CDFI Fund and local sources, McCIF began its loan program in November of 2020 and continued throughout 2021. The loan program is McCIF's only program activity.

    Expenses $134,403 · Grants $280,840 · Revenue $289,788

As filed on the 2022 return.

Listed in Part VII

  • Ilda Sabido

    Assistant Program Manager

    Total calculated
    $37,660
    From this org
    $37,660
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $37,660
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $37,660

  • Jane P Allen

    Executive Director

    Total calculated
    $29,000
    From this org
    $29,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $29,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $29,000

  • Christopher A Gonzales

    Former Executive Director & Loan Officer

    Total calculated
    $17,500
    From this org
    $17,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $17,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $17,500

  • Eduardo Vazquez

    Loan Program Director

    Total calculated
    $11,337
    From this org
    $11,337
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $11,337
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $11,337

  • William R Vance

    President, Treasurer, Director

    Total calculated
    $0
    Hours/week
    15

  • Andrea Barefield

    Director

    Total calculated
    $0
    Hours/week
    2

  • Alfred Solano

    Director

    Total calculated
    $0
    Hours/week
    2

  • Thomas G Chase Jr

    Vice-President, Director

    Total calculated
    $0
    Hours/week
    2

  • Andrea Kosar

    Director

    Total calculated
    $0
    Hours/week
    2

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
The Board of Directors acts as the Personnel Committee and approves the selection and compensation of the Executive Director. All other staff compensation is determined by the Executive Director within the Budget adopted by the Board.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
24 April 2023
IRS schema version
2022v5.0
Source object
202311309349304376

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