Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN SERVICE FEES

  total $440,154 · related or exempt $440,154

• 2b · Program service revenue: LOAN ORIGINATION FEES

  total $215,779 · related or exempt $215,779

• 2c · Program service revenue: CUSTOMER REIMBURSEMENTS

  total $37,695 · related or exempt $37,695

• 2d · Program service revenue: INTEREST ON LOANS

  total $22,335 · related or exempt $22,335

• 3 · Investment income

  total $212,002 · excluded $212,002

• 7a · Gross sales of assets other than inventory

  securities $1,305,725

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

  securities $1,346,060

• 7c · Gain or loss

  securities -$40,335

• 7d · Net gain or loss

  total -$40,335 · excluded -$40,335

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,500 · program services $6,500

• 5 · Compensation of officers, directors and key employees

  total $299,314 · program services $259,068 · management and general $40,246

• 7 · Other salaries and wages

  total $62,400 · program services $53,998 · management and general $8,402

• 8 · Pension plan contributions

  total $1,873 · program services $1,634 · management and general $239

• 9 · Other employee benefits

  total $12,946 · program services $11,203 · management and general $1,743

• 10 · Payroll taxes

  total $22,846 · program services $19,931 · management and general $2,915

• 11b · Fees: legal

  total $31,128 · program services $30,725 · management and general $403

• 11c · Fees: accounting

  total $14,150 · management and general $14,150

• 11f · Fees: investment management

  total $19,096 · management and general $19,096

• 11g · Fees: other

  total $4,613 · management and general $4,613

• 12 · Advertising and promotion

  total $7,997 · program services $7,997

• 13 · Office expenses

  total $29,949 · management and general $29,949

• 16 · Occupancy

  total $55,179 · program services $48,138 · management and general $7,041

• 22 · Depreciation, depletion and amortization

  total $3,724 · management and general $3,724

• 24a · Other expenses: DIRECT LOAN COSTS

  total $37,787 · program services $37,787

• 24b · Other expenses: PROVISION FOR LOAN LOSSES

  total $8,000 · program services $8,000

• 24c · Other expenses: BOARD AND COMMITTEE EXPEN

  total $2,865 · management and general $2,865

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $293,926 · end of year $145,816

• 2 · Savings and temporary cash investments

  beginning of year $684,774 · end of year $1,020,789

• 7 · Other notes and loans receivable

  beginning of year $542,233 · end of year $582,767

• 9 · Prepaid expenses and deferred charges

  beginning of year $21,596 · end of year $18,991

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

  $41,361

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

  $34,255

• 10c · Land, buildings and equipment, net

  beginning of year $10,830 · end of year $7,106

• 11 · Investments: publicly traded securities

  beginning of year $3,205,339 · end of year $3,555,266

• 15 · Other assets

  beginning of year $70,524 · end of year $681,980

• 17 · Accounts payable and accrued expenses

  beginning of year $6,368 · end of year $2,478

• 19 · Deferred revenue

  end of year $500,000

• 25 · Other liabilities

  beginning of year $60,684 · end of year $172,738

• 27 · Net assets without donor restrictions

  beginning of year $4,762,170 · end of year $5,337,499

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 5A

THE ORGANIZATION'S BOARD OF DIRECTORS ESTABLISHED A BONUS PLAN IN 2010 FOR ITS TOP MANAGEMENT THAT PROVIDES BONUSES IF TOTAL STAFFING COSTS ARE LESS THAN 50% OF "PRODUCTION INCOME" (AS DEFINED IN THE PLAN). THE BONUSES ARE LIMITED IF NET EARNINGS (AS DEFINED IN THE PLAN) DO NOT REACH 30,000, AND ARE FURTHER LIMITED TO SPECIFIED PERCENTAGES OF BASE PAY BY EMPLOYEE.