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Nonprofiteer
← COMMUNITY INITATIVES INC

Form 990 for tax year 2023

Filed by COMMUNITY INITATIVES INC.

Totals

Total revenue
$6,720,029
Total expenses
$6,557,849
Contributions and grants received
$5,522,970
Grants paid
$0
Program service revenue
$1,197,059
Investment income
$0
Other revenue
$0
Total assets, end of year
$23,940,269
Total liabilities, end of year
$19,592,053
Net assets or fund balances, end of year
$4,348,216
Program services expenses (Part IX)
$5,639,750
Management and general expenses
$852,520
Fundraising expenses
$65,579
Program service expenses (Part III)
$5,639,750

Program services were 86.0% 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)

    $5,430,970

  • 1f · All other contributions, gifts and grants

    $92,000

  • 2a · Program service revenue: AFFORDABLE HOUSING

    total $1,033,776 · related or exempt $1,033,776

  • 2b · Program service revenue: LOAN SERVICING

    total $163,283 · related or exempt $163,283

  • 2f · All other program service revenue

    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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,818,060 · program services $1,563,530 · management and general $236,348 · fundraising $18,182

  • 11b · Fees: legal

    total $31,787 · program services $27,337 · management and general $4,132 · fundraising $318

  • 11c · Fees: accounting

    total $30,000 · program services $25,800 · management and general $3,900 · fundraising $300

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $87,752 · program services $75,468 · management and general $11,408 · fundraising $876

  • 16 · Occupancy

    total $135,560 · program services $116,581 · management and general $17,623 · fundraising $1,356

  • 23 · Insurance

    total $16,625 · program services $14,298 · management and general $2,161 · fundraising $166

  • 24a · Other expenses: BUILDING REPAIRS

    total $4,438,065 · program services $3,816,736 · management and general $576,948 · fundraising $44,381

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,469,079 · end of year $1,600,789

  • 2 · Savings and temporary cash investments

    beginning of year $4,840,439 · end of year $8,261,600

  • 4 · Accounts receivable

    beginning of year $8,963,224 · end of year $10,933,607

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,279,788 · end of year $1,102,975

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $2,198,098 · end of year $2,041,298

  • 17 · Accounts payable and accrued expenses

    beginning of year $585,708 · end of year $1,785,991

  • 19 · Deferred revenue

    beginning of year $800,000 · end of year $800,000

  • 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 $13,180,150 · end of year $17,006,062

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,184,770 · end of year $4,348,216

Mission and programs · 2023

Mission

PRESERVE LOWER INCOME NEIGHBORHOODS THROUGH THE PRESERVATION OF QUALITY AFFORDABLE RENTAL HOUSING.

  • TROUBLED BUILDINGS INITIATIVE (TBI): AS OF SEPTEMBER 30, 2024, CII IS THE COURT APPOINTED RECEIVER ON NUMEROUS BUILDINGS MOST IN NEED OF REPAIR AND PRESENT THE MOST PROBLEMS TO THEIR COMMUNITIES. THROUGH THE PROGRAM, TBI HAS TAKEN ACTION ON 1,251 BUILDINGS WITH 22,480 HOUSING UNITS, AND 935 BUILDINGS WITH 17,066 UNITS HAVE BEEN RECOVERED.

    Expenses $5,639,750 · Revenue $1,197,059

As filed on the 2023 return.

Listed in Part VII

  • STACIE YOUNG

    PRESIDENT

    Total calculated
    $355,205
    From this org
    $0
    From related orgs
    $328,700
    Other
    $26,505
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $242,748 related
    Bonus
    $0 + $85,400 related
    Other
    $0 + $552 related
    Deferred
    $0 + $24,804 related
    Nontaxable benefits
    $0 + $1,701 related
    Filer's total
    $0 + $355,205 related

  • ANGIE MARKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • FRANK PETTAWAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOHN GHOLAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROBERT MARJAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rondella Hunt

    Director

    Total calculated
    $0
    Hours/week
    1

  • VICKI ARROYO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN CRANE

    SVP/DIRECTOR OF LENDING

    Total calculated
    $307,243
    From this org
    $0
    From related orgs
    $263,464
    Other
    $43,779
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,123 related
    Bonus
    $0 + $53,293 related
    Other
    $0 + $3,048 related
    Deferred
    $0 + $20,488 related
    Nontaxable benefits
    $0 + $23,291 related
    Filer's total
    $0 + $307,243 related

  • JONAH HESS

    CII VICE PRESIDENT

    Total calculated
    $224,470
    From this org
    $0
    From related orgs
    $196,757
    Other
    $27,713
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $159,290 related
    Bonus
    $0 + $37,227 related
    Other
    $0 + $240 related
    Deferred
    $0 + $15,143 related
    Nontaxable benefits
    $0 + $12,570 related
    Filer's total
    $0 + $224,470 related

  • MICHAEL CIACCIA

    TREASURER/CFO

    Total calculated
    $295,928
    From this org
    $0
    From related orgs
    $244,555
    Other
    $51,373
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,675 related
    Bonus
    $0 + $43,520 related
    Other
    $0 + $360 related
    Deferred
    $0 + $19,192 related
    Nontaxable benefits
    $0 + $32,181 related
    Filer's total
    $0 + $295,928 related

  • MONICA KIRBY

    ASSISTANT SECRETARY

    Total calculated
    $99,143
    From this org
    $0
    From related orgs
    $82,244
    Other
    $16,899
    Hours/week
    1 + 39 related

  • ANDRE COLLINS

    ACQUISITION MANAGER

    Total calculated
    $434,233
    From this org
    $0
    From related orgs
    $404,299
    Other
    $29,934
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $0 + $45,957 related
    Bonus
    $0 + $357,982 related
    Other
    $0 + $360 related
    Deferred
    $0 + $16,859 related
    Nontaxable benefits
    $0 + $13,075 related
    Filer's total
    $0 + $434,233 related

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

  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND OTHER OFFICERS IS PAID BY COMMUNITY INVESTMENT CORPORATION, A RELATED TAX EXEMPT ORGANIZATION. COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION, COMMUNITY INVESTMENT CORPORATION, INC. A COMPENSATION SURVEY OR STUDY IS CONDUCTED AND COMPENSATION IS APPROVED BY THE BOARD.
Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization
ANDRE COLLINS, ACQUISITION MANAGER, IS PAID A COMMISSION BY CIC, COMPUTED AS A PERCENTAGE OF NET REVENUE GENERATED FROM THE ACQUISITION AND LINE OF CREDIT PROGRAM. CIC ALSO PAYS ANDRE COLLINS A SALARY RELATED TO THE ACTIVITIES OF CEPF, LLC.
Schedule J, Part I, Line 7 Non-fixed payments
AS INDICATED IN SCHEDULE J, PART II, EMPLOYEES OF THE ORGANIZATION, INCLUDING HIGHEST COMPENSATED INDIVIDUALS, RECEIVED A BONUS BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF COMMUNITY INVESTMENT CORPORATION, A RELATED TAX-EXEMPT ORGANIZATION.

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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2025
IRS schema version
2023v6.0
Source object
202542269349302684

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