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Nonprofiteer
← THE CAPITAL GOOD FUND

Form 990 for tax year 2022

Filed by THE CAPITAL GOOD FUND.

Totals

Total revenue
$5,723,489
Total expenses
$5,479,002
Contributions and grants received
$4,512,079
Grants paid
$0
Program service revenue
$1,211,410
Investment income
$0
Other revenue
$0
Total assets, end of year
$17,247,323
Total liabilities, end of year
$15,345,058
Net assets or fund balances, end of year
$1,902,265
Program services expenses (Part IX)
$4,463,176
Management and general expenses
$681,459
Fundraising expenses
$334,367
Program service expenses (Part III)
$4,463,176

Program services were 81.5% 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.

  • 1d · Related organizations

    $2,300,000

  • 1f · All other contributions, gifts and grants

    $2,212,079

  • 1g · Noncash contributions included above

    $1,110

  • 2a · Program service revenue: INTEREST INCOME

    total $856,149 · related or exempt $856,149

  • 2b · Program service revenue: SHARED SERVICES

    total $268,400 · related or exempt $268,400

  • 2c · Program service revenue: PROGRAM REVENUE

    total $86,861 · related or exempt $86,861

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $95,000 · program services $76,950 · management and general $9,500 · fundraising $8,550

  • 7 · Other salaries and wages

    total $2,475,674 · program services $2,005,296 · management and general $247,567 · fundraising $222,811

  • 8 · Pension plan contributions

    total $46,546 · program services $37,702 · management and general $4,655 · fundraising $4,189

  • 9 · Other employee benefits

    total $155,776 · program services $126,179 · management and general $15,577 · fundraising $14,020

  • 10 · Payroll taxes

    total $168,019 · program services $136,095 · management and general $16,802 · fundraising $15,122

  • 11b · Fees: legal

    total $35,682 · management and general $35,682

  • 11c · Fees: accounting

    total $44,500 · program services $36,045 · management and general $4,450 · fundraising $4,005

  • 11g · Fees: other

    total $48,864 · program services $6,957 · management and general $41,468 · fundraising $439

  • 12 · Advertising and promotion

    total $223,470 · program services $130,874 · management and general $79,935 · fundraising $12,661

  • 13 · Office expenses

    total $77,022 · program services $62,388 · management and general $7,702 · fundraising $6,932

  • 14 · Information technology

    total $384,298 · program services $311,281 · management and general $38,430 · fundraising $34,587

  • 16 · Occupancy

    total $2,875 · program services $2,329 · management and general $288 · fundraising $258

  • 17 · Travel

    total $19,799 · program services $833 · management and general $18,966

  • 20 · Interest

    total $268,809 · program services $268,809

  • 22 · Depreciation, depletion and amortization

    total $80,162 · program services $64,931 · management and general $8,016 · fundraising $7,215

  • 23 · Insurance

    total $31,191 · program services $25,265 · management and general $3,119 · fundraising $2,807

  • 24a · Other expenses: BAD DEBT

    total $562,089 · program services $562,089

  • 24b · Other expenses: LOAN SERVICING

    total $560,200 · program services $560,200

  • 24c · Other expenses: MISCELLANEOUS

    total $82,582 · management and general $82,582

  • 24d · Other expenses: PROFESSIONAL DEVELOPMEN

    total $72,401 · program services $6,538 · management and general $65,863

  • 24e · All other expenses

    total $44,043 · program services $42,415 · management and general $857 · fundraising $771

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,275,332 · end of year $4,517,815

  • 3 · Pledges and grants receivable

    beginning of year $11,496 · end of year $154,424

  • 4 · Accounts receivable

    beginning of year $196,106 · end of year $137,754

  • 7 · Other notes and loans receivable

    beginning of year $6,844,284 · end of year $11,848,995

  • 9 · Prepaid expenses and deferred charges

    beginning of year $57,239 · end of year $24,663

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

    $626,913

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

    $104,861

  • 10c · Land, buildings and equipment, net

    beginning of year $557,336 · end of year $522,052

  • 15 · Other assets

    beginning of year $17,127 · end of year $41,620

  • 17 · Accounts payable and accrued expenses

    beginning of year $358,070 · end of year $1,538,261

  • 19 · Deferred revenue

    beginning of year $1,088,902 · end of year $1,870,730

  • 22 · Loans and payables to officers and key people

    beginning of year $197,654 · end of year $201,009

  • 23 · Secured mortgages and notes payable

    beginning of year $1,125,000 · end of year $875,000

  • 24 · Unsecured notes and loans payable

    beginning of year $8,531,516 · end of year $10,860,058

  • 27 · Net assets without donor restrictions

    beginning of year $494,744 · end of year $1,454,608

  • 28 · Net assets with donor restrictions

    beginning of year $1,163,034 · end of year $447,657

Mission and programs · 2022

Mission

TO CREATE PATHWAYS OUT OF POVERTY AND ADVANCE A GREEN ECONOMY THROUGH INCLUSIVE FINANCIAL SERVICES.

Activities or mission (Part I)

THE CAPITAL GOOD FUND IS A U.S. TREASURY CERTIFIED COMMUNITY DEVELOPMENT FOUNDATION THAT TARGETS ROOT CAUSES OF POVERTY AND ENVIRONMENTAL INJUSTICE THROUGH INNOVATIVE PERSONAL LOANS AND FINANCIAL COACHING. ITS MISSION IS TO CREATE PATHWAYS OUT OF POVERTY AND ADVANCE A GREEN ECONOMY THROUGH INCLUSIVE FINANCIAL SERVICES.

  • 2022 WAS AN AMAZING YEAR: WE SET RECORDS FOR LOAN VOLUME, LOANS OUTSTANDING, EARNED INCOME, AND TOTAL ASSETS; EXPANDED INTO THREE NEW STATES (NJ, CT, AND GA); MAINTAINED PHENOMENAL PORTFOLIO PERFORMANCE; AND CONTINUED TO BE A LEADER IN THE FIGHT TO USE FINANCIAL SERVICES TO ADDRESS POVERTY AND MITIGATE CLIMATE CHANGE. LOAN VOLUME INCREASED 62%, FROM $5.36 MILLION ORIGINATED IN 2021 TO $8.7 MILLION IN 2022 LOAN PORTFOLIO OUTSTANDING INCREASED 68%, FROM $7.44 MILLION TO $12.48 MILLION EARNED INCOME INCREASED 28%, FROM $941,000 TO $1.21 MILLION ASSETS INCREASED BY 33%, FROM $12.96 MILLION TO $17.25 MILLIONWE ARE SO PROUD OF WHAT WE CONTINUE TO ACCOMPLISH YEAR AFTER YEAR FOR THE COMMUNITIES AND FAMILIES WE SERVE. WHILE WE SAY THIS EVERY YEAR, IT IS AS TRUE AS EVER: THE BEST IS UNDOUBTEDLY YET TO COME.

    Expenses $3,993,368 · Revenue $1,124,549

  • IN 2022 CAPITAL GOOD FUND GRADUATED OVER 65 FAMILIES FROM OUR NATIONALLY RECOGNIZED, ONE-ON-ONE FINANCIAL AND HEALTH COACHING PROGRAM, COVERING TOPICS LIKE BUDGETING, BANKING, SAVINGS, DEBT, AND HEALTHY EATING ON A BUDGET.

    Expenses $469,808 · Revenue $86,861

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Betsy Harris

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Libby Kimzey

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Aaron Jay Fossett

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Arthur S Gabinet

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nisha Floyd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Holly Bullard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elina Magaly Santana Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dara Duguay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rahul Gupta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracy MacLean

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Isabella Ortiz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrew Posner

    FOUNDER & CEO

    Total calculated
    $97,850
    From this org
    $95,000
    From related orgs
    $0
    Other
    $2,850
    Hours/week
    40 + 1 related

  • Aisha Bussey

    CHIEF BUSINESS OFFICER

    Total calculated
    $135,000
    From this org
    $128,125
    From related orgs
    $0
    Other
    $6,875
    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.

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.

  • SOCIAL CAPITAL FUND

    501(C)(3) · SUPPORT THE CAPITAL GOOD FUND'S GROWING SMALL-DOLLAR PERSONAL LOAN PORTFOLIO · RI · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
4 June 2023
IRS schema version
2022v5.0
Source object
202341579349300304

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