Totals
- Total revenue
- $2,366,715
- Total expenses
- $1,418,198
- Contributions and grants received
- $1,659,899
- Grants paid
- $241,978
- Program service revenue
- $694,259
- Investment income
- $12,557
- Other revenue
- $0
- Total assets, end of year
- $3,024,714
- Total liabilities, end of year
- $38,465
- Net assets or fund balances, end of year
- $2,986,249
- Program services expenses (Part IX)
- $1,301,303
- Management and general expenses
- $98,691
- Fundraising expenses
- $18,204
- Program service expenses (Part III)
- $1,301,303
Program services were 91.8% 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.
-
1f · All other contributions, gifts and grants
$1,659,899
-
2a · Program service revenue: Impact loan fee income
total $379,174 · related or exempt $379,174
-
2b · Program service revenue: Unrealized impact loan
total $180,362 · related or exempt $180,362
-
2c · Program service revenue: CU Association Members
total $134,000 · related or exempt $134,000
-
2d · Program service revenue: Financial Education Me
total $723 · related or exempt $723
-
3 · Investment income
total $12,557 · excluded $12,557
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $241,978 · program services $241,978
-
5 · Compensation of officers, directors and key employees
total $127,308 · program services $76,385 · management and general $38,192 · fundraising $12,731
-
7 · Other salaries and wages
total $152,582 · program services $112,242 · management and general $37,145 · fundraising $3,195
-
8 · Pension plan contributions
total $5,562 · program services $4,146 · management and general $1,282 · fundraising $134
-
9 · Other employee benefits
total $7,073 · program services $4,578 · management and general $2,321 · fundraising $174
-
10 · Payroll taxes
total $21,413 · program services $14,483 · management and general $5,759 · fundraising $1,171
-
11b · Fees: legal
total $3,174 · program services $1,587 · management and general $1,587
-
11c · Fees: accounting
total $8,327 · program services $7,494 · management and general $833
-
11g · Fees: other
total $11,346 · program services $4,748 · management and general $5,799 · fundraising $799
-
12 · Advertising and promotion
total $1,297 · program services $1,297
-
13 · Office expenses
total $30,792 · program services $30,402 · management and general $390
-
17 · Travel
total $2,665 · program services $2,665
-
20 · Interest
total $336 · management and general $336
-
23 · Insurance
total $2,924 · management and general $2,924
-
24a · Other expenses: Impact loan program fee
total $615,241 · program services $615,241
-
24b · Other expenses: Loss on impact loan int
total $180,362 · program services $180,362
-
24c · Other expenses: Staff development
total $5,308 · program services $3,185 · management and general $2,123
-
24d · Other expenses: Meals and entertainment
total $510 · program services $510
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $896,832 · end of year $629,624
-
2 · Savings and temporary cash investments
beginning of year $151,581 · end of year $797,257
-
13 · Investments: program-related
beginning of year $992,596 · end of year $1,597,833
-
17 · Accounts payable and accrued expenses
beginning of year $3,278 · end of year $3,633
-
23 · Secured mortgages and notes payable
end of year $34,832
-
27 · Net assets without donor restrictions
beginning of year $1,049,948 · end of year $1,857,320
-
28 · Net assets with donor restrictions
beginning of year $987,783 · end of year $1,128,929
Mission and programs · 2024
Mission
To help organizations meet the financial needs of people in their community by providing the education and technology to create sustainable and scalable community impact.
-
Community Assistance: provide 0% interest, small-dollar impact loans and limited small-dollar grantstypically ranging between $500 and $3,000to community members facing financial distress or poverty. The impact loan program includes a complimentary membership in CIF's Financial Education Program.
Expenses $1,248,303 · Grants $241,978 · Revenue $560,259
-
Financial Education: CIF's Financial Education Membership provides financial education through monthly newsletters, quarterly webinars, a member resource portal, and access to financial coaching. CIF has both organizational members and natural (individual) members who must self-enroll, pay dues, and hold voting rights. Other individual members receive complimentary memberships if they are engaged in our Community Assistance Impact Loan Program. In addition, credit union (CU) association members have the unique authority to enroll members on CIF's behalf through a membership pathway tied specifically to the association member credit union's field of membership. CU association members pay annual dues to CIF based on their asset size at the time dues are assessed. This allows them to offer complimentary memberships to the individuals and organizations they enroll on CIF's behalf. Association Members each hold one vote as members of CIF.
Expenses $53,000 · Revenue $134,000
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Matt King
President
- Total calculated
- $0
- Hours/week
- 1
-
Merry Pateuk
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Will Goodale
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Tad Jones
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Brandon Melton
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Judah Musick
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Michael Scheid
Executive Director
- Total calculated
- $128,246
- From this org
- $120,938
- From related orgs
- $0
- Other
- $7,308
- 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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543179349304109
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