Skip to content
Nonprofiteer
← RISING TIDE CAPITAL INC

Form 990 for tax year 2024

Filed by RISING TIDE CAPITAL INC.

Totals

Total revenue
$5,538,016
Total expenses
$7,615,065
Contributions and grants received
$4,426,231
Grants paid
$0
Program service revenue
$666,454
Investment income
$445,331
Other revenue
$0
Total assets, end of year
$9,628,408
Total liabilities, end of year
$4,292,266
Net assets or fund balances, end of year
$5,336,142
Program services expenses (Part IX)
$6,328,636
Management and general expenses
$529,531
Fundraising expenses
$756,898
Program service expenses (Part III)
$6,328,636

Program services were 83.1% 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)

    $918,731

  • 1f · All other contributions, gifts and grants

    $3,507,500

  • 2a · Program service revenue: NATIONAL PROGRAM PARTN

    total $253,911 · related or exempt $253,911

  • 2b · Program service revenue: LICENSING FEES

    total $199,500 · related or exempt $199,500

  • 2c · Program service revenue: CONTRACT SERVICES

    total $183,800 · related or exempt $183,800

  • 2d · Program service revenue: CBA AND BAS

    total $29,243 · related or exempt $29,243

  • 3 · Investment income

    total $199,944 · excluded $199,944

  • 7a · Gross sales of assets other than inventory

    securities $334,983

  • 7b · Less cost or other basis and sales expenses

    securities $89,596

  • 7c · Gain or loss

    securities $245,387

  • 7d · Net gain or loss

    total $245,387 · excluded $245,387

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $894,173 · program services $703,728 · management and general $102,309 · fundraising $88,136

  • 7 · Other salaries and wages

    total $2,996,549 · program services $2,521,973 · management and general $201,601 · fundraising $272,975

  • 8 · Pension plan contributions

    total $98,929 · program services $83,814 · management and general $6,179 · fundraising $8,936

  • 9 · Other employee benefits

    total $444,026 · program services $374,043 · management and general $29,580 · fundraising $40,403

  • 10 · Payroll taxes

    total $269,792 · program services $224,147 · management and general $20,669 · fundraising $24,976

  • 11g · Fees: other

    total $1,611,121 · program services $1,352,621 · management and general $7,618 · fundraising $250,882

  • 12 · Advertising and promotion

    total $6,606 · program services $6,237 · management and general $13 · fundraising $356

  • 16 · Occupancy

    total $421,503 · program services $390,429 · management and general $26,940 · fundraising $4,134

  • 17 · Travel

    total $86,012 · program services $78,317 · management and general $3,954 · fundraising $3,741

  • 19 · Conferences, conventions and meetings

    total $165,093 · program services $140,621 · management and general $8,966 · fundraising $15,506

  • 24a · Other expenses: EQUIPMENT, SOFTWARE AND

    total $310,573 · program services $153,026 · management and general $111,904 · fundraising $45,643

  • 24b · Other expenses: MISCELLANEOUS

    total $150,519 · program services $139,679 · management and general $9,798 · fundraising $1,042

  • 24c · Other expenses: PRINTING AND POSTAGE

    total $103,794 · program services $103,751 · fundraising $43

  • 24d · Other expenses: PROGRAM SEMINAR AND EVE

    total $56,375 · program services $56,250 · fundraising $125

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $288,364 · end of year $720,343

  • 2 · Savings and temporary cash investments

    beginning of year $4,097,481 · end of year $3,371,194

  • 3 · Pledges and grants receivable

    beginning of year $3,073,852 · end of year $1,164,434

  • 4 · Accounts receivable

    beginning of year $444,978 · end of year $14,436

  • 9 · Prepaid expenses and deferred charges

    beginning of year $55,707 · end of year $48,328

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

    $4,783,075

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

    $491,743

  • 10c · Land, buildings and equipment, net

    beginning of year $4,436,472 · end of year $4,291,332

  • 15 · Other assets

    beginning of year $19,163 · end of year $18,341

  • 17 · Accounts payable and accrued expenses

    beginning of year $227,322 · end of year $249,352

  • 23 · Secured mortgages and notes payable

    beginning of year $2,978,310 · end of year $4,042,914

  • 27 · Net assets without donor restrictions

    beginning of year $6,194,135 · end of year $3,988,642

  • 28 · Net assets with donor restrictions

    beginning of year $3,016,250 · end of year $1,347,500

Mission and programs · 2024

Mission

RISING TIDE CAPITAL INC. IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO TRANSFORM LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. RISING TIDE AIMS TO EXPAND ITS PROVEN MODEL AND PROGRAMS TO SERVE MORE ECONOMICALLY CHALLENGED INDIVIDUALS AND FAMILIES FOR WHOM ENTREPRENEURSHIP REPRESENTS AN IMPORTANT OPPORTUNITY FOR RESILIENCE, GROWTH, STABILITY, AND INCOME GENERATION. WE ARE DRIVEN BY A VISION OF STRONG COMMUNITIES OF RESILIENT ENTREPRENEURS CATALYZING A THRIVING AND SUSTAINABLE ECONOMY FOR ALL.

Activities or mission (Part I)

OUR MISSION IS TRANSFORMING LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. WE ASSIST ENTREPRENEURS IN ECONOMICALLY MARGINALIZED COMMUNITIES TO BUILD LASTING BUSINESSES. OUR VISION IS TO BUILD INCLUSIVE COMMUNITIES OF RESILIENT ENTREPRENEURS CATALYZING A THRIVING AND SUSTAINABLE ECONOMY FOR ALL. THROUGH OUR SIGNATURE PROGRAMS, THE COMMUNITY BUSINESS ACADEMY (CBA), BUSINESS ACCELERATION SERVICES (BAS), AND CREDIT TO CAPITAL (C2C), WE PROVIDE HOLISTIC TECHNICAL ASSISTANCE, ACCESS TO CAPITAL THROUGH PARTNERS AND BUSINESS MANAGEMENT EDUCATION AND COACHING. CBA IS A COLLEGE-ACCREDITED COURSE PROVIDING BASIC SKILLS NEEDED TO MANAGE AND STRENGTHEN A BUSINESS. CLASSES ARE OFFERED IN ENGLISH AND SPANISH, TAILORED TO MEET VARIED IDENTITIES AND EDUCATIONAL LEVELS. AS PART OF BAS, OUR SUBJECT MATTER EXPERTS PREPARE ENTREPRENEURS FOR GROWTH. OUR C2C PROGRAM PROVIDES ACCESS TO FINANCING FROM VETTED CDFIS. WITH A NETWORK OF PARTNERS, RTC LICENSES ITS PROVEN MODEL TO SCALE IMPACT IN MORE COMMUNITIES

  • RISING TIDE CAPITAL MARKED A TRANSFORMATIVE YEAR IN 2024, CELEBRATING ITS 20TH ANNIVERSARY WHILE ACHIEVING SIGNIFICANT MILESTONES IN ENTREPRENEURIAL SUPPORT AND COMMUNITY DEVELOPMENT. THROUGH THE RISING TIDE NETWORK, THE ORGANIZATION NOW OPERATES IN 18 LOCATIONS ACROSS 15 STATES, HAVING SUPPORTED OVER 11,000 ENTREPRENEURS SINCE ITS FOUNDING.RISING TIDE CAPITAL AND THE RISING TIDE NETWORK PROVIDED INTENSIVE BUSINESS MANAGEMENT TRAINING & EDUCATION WITH ACCESS TO CAPITAL AND COACHING SERVICES TO OVER 2,100 ENTREPRENEURS DURING 2024. 494 PEOPLE PARTICIPATED IN OUR COMMUNITY BUSINESS ACADEMY, 550 PEOPLE RECEIVED ADVANCED TECHNICAL SUPPORT AND COACHING THROUGH OUR BUSINESS ACCELERATION SERVICES PROGRAM (A 31% INCREASE FROM 2023), AND 230 PEOPLE RECEIVED CREDIT COUNSELING, LOAN PACKAGING, AND ACCESS TO CAPITAL SERVICES THROUGH OUR CREDIT TO CAPITAL PROGRAM, WITH COACHING HOURS INCREASING BY 377% TO 1,831 HOURS.DURING 2024 THESE EFFORTS RESULTED IN 70 NEW BUSINESS STARTS (89% INCREASE FROM 2023), 550 BUSINESSES STRENGTHENED/STABILIZED (26% INCREASE), 331 BUSINESSES EXPANDED (82% INCREASE), AND THE CREATION OF 325 NEW JOBS, REPRESENTING A 55% INCREASE IN JOB CREATION FROM THE PREVIOUS YEAR.WITH PROGRAM GRADUATES ACHIEVING AN 81% BUSINESS SURVIVAL RATE BEYOND FIVE YEARSSIGNIFICANTLY OUTPERFORMING THE 50% NATIONAL AVERAGE ALONGSIDE RISING TIDE CAPITAL'S PROVEN IMPACT IN GENERATING $5.89 IN SOCIAL VALUE FOR EVERY $1 INVESTED RISING TIDE CAPITAL CONTINUES TO DEMONSTRATE THAT ENTREPRENEURSHIP IS A POWERFUL CATALYST FOR ECONOMIC MOBILITY AND COMMUNITY TRANSFORMATION.

    Expenses $6,328,636 · Revenue $666,454

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MAURICE KUYKENDOLL

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • JOE MASTERSON

    VICE CHAIR & SECRETARY OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • ANAND DEVENDRAN

    FINANCE AND AUDIT COMMITTEE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • ANDRE DUGGIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • ANGELO STRACQUATANIO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY ROBINSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • KIRAN HANDA GUADIOSO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • PRESTON PINKETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • AICHA BALLA

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • KRISTEN SHARP

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • ALFA DEMMELLASH

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $321,492
    From this org
    $267,500
    From related orgs
    $0
    Other
    $53,992
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,900
    Bonus
    $0
    Other
    $600
    Deferred
    $13,375
    Nontaxable benefits
    $40,617
    Filer's total
    $321,492

  • ALEX FORRESTER

    CHIEF OPERATING OFFICER

    Total calculated
    $304,835
    From this org
    $245,452
    From related orgs
    $0
    Other
    $59,383
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,852
    Bonus
    $0
    Other
    $600
    Deferred
    $12,305
    Nontaxable benefits
    $47,078
    Filer's total
    $304,835

  • JOYNICOLE MARTINEZ

    CHIEF ADVANCEMENT OFFICER

    Total calculated
    $267,835
    From this org
    $228,333
    From related orgs
    $0
    Other
    $39,502
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,310
    Bonus
    $43,023
    Other
    $0
    Deferred
    $11,417
    Nontaxable benefits
    $28,085
    Filer's total
    $267,835

  • LOUISA COUSINS

    SENIOR DIRECTOR OF ANALYTICS & INFOR

    Total calculated
    $195,132
    From this org
    $147,009
    From related orgs
    $0
    Other
    $48,123
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,009
    Bonus
    $0
    Other
    $0
    Deferred
    $7,490
    Nontaxable benefits
    $40,633
    Filer's total
    $195,132

  • KRIS VAN NEST

    EXECUTIVE PRODUCER OF DIGITAL LEARNI

    Total calculated
    $188,335
    From this org
    $149,648
    From related orgs
    $0
    Other
    $38,687
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,648
    Bonus
    $0
    Other
    $0
    Deferred
    $7,483
    Nontaxable benefits
    $31,204
    Filer's total
    $188,335

  • CHRIS BREITENBERG

    DIRECTOR - NPP

    Total calculated
    $178,326
    From this org
    $132,426
    From related orgs
    $0
    Other
    $45,900
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,426
    Bonus
    $0
    Other
    $0
    Deferred
    $7,165
    Nontaxable benefits
    $38,735
    Filer's total
    $178,326

  • SAMIRA COOK

    MANAGING DIRECTOR OF STRATEGIC PARTNERSHIPS

    Total calculated
    $187,580
    From this org
    $140,347
    From related orgs
    $0
    Other
    $47,233
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,347
    Bonus
    $0
    Other
    $0
    Deferred
    $7,241
    Nontaxable benefits
    $39,992
    Filer's total
    $187,580

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 · 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

The filer's explanations (Part III)

PART I, LINE 3
RISING TIDE CAPITAL USES ANNUALLY UPDATED MARKET RESEARCH ABOUT NONPROFIT COMPENSATION FOR ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC LOCATION PUBLISHED BY ORGANIZATIONS SUCH AS CANDID, PROPUBLICA AND THE COUNCIL OF NONPROFITS. THE DATA INFLUENCES DECISION-MAKING REGARDING COMPENSATION LEVELS ASSESSED DURING THE ANNUAL PERFORMANCE PERIOD. THE BOARD EXECUTIVE COMPENSATION TASK FORCE ANNUALLY REVIEWS THE PERFORMANCE OF THE CEO AND COO AND UTILIZES APPROPRIATE MARKET DATA TO DETERMINE EXECUTIVE COMPENSATION. EXECUTIVE PERFORMANCE REVIEW IS DONE ANNUALLY.

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
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202503189349305355

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

The source document this was parsed from is served over the API, which is where bulk and document access live.