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Nonprofiteer
← PEOPLEFUND

Form 990 for tax year 2022

Filed by PEOPLEFUND.

Totals

Total revenue
$11,186,466
Total expenses
$10,360,911
Contributions and grants received
$7,162,182
Grants paid
$1,286,075
Program service revenue
$3,612,393
Investment income
$325,424
Other revenue
$86,467
Total assets, end of year
$70,013,078
Total liabilities, end of year
$49,309,435
Net assets or fund balances, end of year
$20,703,643
Program services expenses (Part IX)
$8,339,717
Management and general expenses
$1,595,772
Fundraising expenses
$425,422
Program service expenses (Part III)
$8,339,717

Program services were 80.5% 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.

  • 1e · Government grants (contributions)

    $1,580,390

  • 1f · All other contributions, gifts and grants

    $5,581,792

  • 2a · Program service revenue: SMALL BUSINESS LENDING PROGRAM

    total $3,159,960 · related or exempt $3,159,960

  • 2b · Program service revenue: 504 INCOME

    total $278,931 · related or exempt $278,931

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $173,502 · related or exempt $173,502

  • 3 · Investment income

    total $326,910 · excluded $326,910

  • 6a · Gross rents

    real property $86,467

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $86,467

  • 6d · Net rental income or loss

    total $86,467 · excluded $86,467

  • 7a · Gross sales of assets other than inventory

    securities $12,438

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

    securities $13,924

  • 7c · Gain or loss

    securities -$1,486

  • 7d · Net gain or loss

    total -$1,486 · excluded -$1,486

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $968,675 · program services $968,675

  • 2 · Grants to domestic individuals

    total $317,400 · program services $317,400

  • 5 · Compensation of officers, directors and key employees

    total $423,399 · program services $90,640 · management and general $249,395 · fundraising $83,364

  • 7 · Other salaries and wages

    total $3,439,245 · program services $2,803,013 · management and general $487,176 · fundraising $149,056

  • 8 · Pension plan contributions

    total $106,591 · program services $80,236 · management and general $20,040 · fundraising $6,315

  • 9 · Other employee benefits

    total $419,220 · program services $329,495 · management and general $68,463 · fundraising $21,262

  • 10 · Payroll taxes

    total $286,771 · program services $215,865 · management and general $53,916 · fundraising $16,990

  • 11b · Fees: legal

    total $87,732 · program services $61,156 · management and general $26,576

  • 11c · Fees: accounting

    total $111,706 · management and general $111,706

  • 11f · Fees: investment management

    total $38,252 · management and general $38,252

  • 11g · Fees: other

    total $671,997 · program services $434,673 · management and general $149,605 · fundraising $87,719

  • 12 · Advertising and promotion

    total $209,057 · management and general $206,395 · fundraising $2,662

  • 13 · Office expenses

    total $339,456 · program services $255,508 · management and general $63,838 · fundraising $20,110

  • 14 · Information technology

    total $206,220 · program services $155,231 · management and general $38,771 · fundraising $12,218

  • 16 · Occupancy

    total $84,619 · program services $63,697 · management and general $15,909 · fundraising $5,013

  • 17 · Travel

    total $51,684 · program services $38,905 · management and general $9,717 · fundraising $3,062

  • 19 · Conferences, conventions and meetings

    total $71,394 · program services $53,741 · management and general $13,423 · fundraising $4,230

  • 20 · Interest

    total $777,923 · program services $777,923

  • 22 · Depreciation, depletion and amortization

    total $163,538 · program services $123,102 · management and general $30,747 · fundraising $9,689

  • 23 · Insurance

    total $62,923 · program services $47,365 · management and general $11,830 · fundraising $3,728

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $1,372,239 · program services $1,372,239

  • 24b · Other expenses: CLOSING COSTS

    total $150,801 · program services $150,801

  • 24c · Other expenses: STAFF/VOLUNTEER APPRECI

    total $69 · program services $52 · management and general $13 · fundraising $4

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,055,950 · end of year $7,476,610

  • 2 · Savings and temporary cash investments

    beginning of year $975,575 · end of year $979,837

  • 3 · Pledges and grants receivable

    beginning of year $1,595,360 · end of year $0

  • 4 · Accounts receivable

    beginning of year $353,641 · end of year $4,591,802

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,796 · end of year $81,037

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

    $4,890,362

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

    $1,554,011

  • 10c · Land, buildings and equipment, net

    beginning of year $2,881,731 · end of year $3,336,351

  • 11 · Investments: publicly traded securities

    beginning of year $5,628,673 · end of year $4,976,887

  • 13 · Investments: program-related

    beginning of year $37,589,264 · end of year $48,317,317

  • 15 · Other assets

    beginning of year $1,383 · end of year $253,237

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,676,341 · end of year $937,270

  • 19 · Deferred revenue

    beginning of year $154,000 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $20,000 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $10,379,213 · end of year $3,366,744

  • 24 · Unsecured notes and loans payable

    beginning of year $31,236,289 · end of year $44,754,375

  • 25 · Other liabilities

    beginning of year $3,305 · end of year $251,046

  • 27 · Net assets without donor restrictions

    beginning of year $18,434,717 · end of year $18,920,539

  • 28 · Net assets with donor restrictions

    beginning of year $2,204,508 · end of year $1,783,104

Mission and programs · 2022

Mission

PEOPLEFUND CREATES ECONOMIC OPPORTUNITY AND FINANCIAL STABILITY FOR UNDERSERVED PEOPLE AND COMMUNITIES BY PROVIDING ACCESS TO CAPITAL, EDUCATION, AND RESOURCES TO BUILD HEALTHY SMALL BUSINESSES.

Activities or mission (Part I)

CREATING ECONOMIC OPPORTUNITY AND FINANCIAL STABILITY FOR UNDERSERVED PEOPLE AND COMMUNITIES.

  • PEOPLEFUND IS A 501(C)(3) NONPROFIT CORPORATION WHOSE MISSION IS TO PROMOTE ECONOMIC VITALITY AND OPPORTUNITY IN LOW INCOME COMMUNITIES BY PROVIDING FINANCIAL SERVICES AND TECHNICAL ASSISTANCE THAT WILL: CREATE JOBS, PROVIDE NEEDED GOODS AND SERVICES, IMPROVE THE PHYSICAL ENVIRONMENT, PROMOTE DIVERSITY, ENTREPRENEURIAL SUCCESS, AND BUILD INDIVIDUAL AND COMMUNITY ASSETS. PEOPLEFUND PROVIDES FINANCING AND COMPREHENSIVE TECHNICAL ASSISTANCE SERVICES TO BUSINESSES, COMMUNITY ORGANIZATIONS, AND MICROENTERPRISES IN LOWER INCOME COMMUNITIES THROUGHOUT TEXAS.

    Expenses $8,339,717 · Grants $1,286,075 · Revenue $3,612,393

As filed on the 2022 return.

Listed in Part VII

  • Yolanda Davila

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Brian Hall

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Nina Nelms

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Anna Sanchez

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Donna Normandin

    SECRETARY - PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • Luther Branham

    DIRECTOR (CHAIR ELECT)

    Total calculated
    $0
    Hours/week
    1

  • Cecilia Castelo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Burer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dorothy Cleaves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nena Shah

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Bustos

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • Gustavo Lasala

    PRESIDENT AND CEO

    Total calculated
    $277,879
    From this org
    $260,853
    From related orgs
    $0
    Other
    $17,026
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,633
    Bonus
    $39,220
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,026
    Filer's total
    $277,879

  • Anthony Hedger

    CFO

    Total calculated
    $145,519
    From this org
    $136,667
    From related orgs
    $0
    Other
    $8,852
    Hours/week
    40

  • Jennifer Palecek

    SVP OF PHILANTHROPIC PARTNERSHIPS

    Total calculated
    $152,722
    From this org
    $139,196
    From related orgs
    $0
    Other
    $13,526
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,802
    Bonus
    $394
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,526
    Filer's total
    $152,722

  • William Anderson

    DIRECTOR OF LENDING

    Total calculated
    $128,982
    From this org
    $115,008
    From related orgs
    $0
    Other
    $13,974
    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. 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 committee
  • 3 · Approval by the board or compensation committee
  • 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
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION FOR THE PRESIDENT & CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE AND SUBSEQUENTLY RATIFIED BY THE BOARD USING COMPARABILITY DATA FROM SIMILAR SIZED NONPROFITS IN THE REGION. THE DECISION AND APPROVAL OF COMPENSATION IS DOCUMENTED AND MAINTAINED IN THE EMPLOYEE FILE AND IN THE BOARD/COMMITTEE MEETING MINUTES. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT & CEO USING COMPARABILITY DATA FROM SIMILAR SIZED NONPROFITS IN THE REGION.
PART I, LINE 7
THE ORGANIZATION PROVIDED NON-FIXED PAYMENTS IN THE FORM OF BONUSES TO CERTAIN INDIVIDUALS REPORTED ON FORM 990, PART VII WHICH ARE DISCRETIONARY (BASED ON COMPANY AND INDIVIDUAL PERFORMANCE) AND APPROVED BY THE BOARD AND/OR CEO (AS APPROPRIATE).

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • VETERAN LOAN FUND LLC

    SUPPORT CDFIS THAT PROVIDE ASSISTANCE TO VETERANS · DE · income $153,462 · assets $12,471,827

    Directly controlled by PEOPLEFUND

Related partnerships

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

  • PEOPLEFUND NMTC LLC

    RELATED · NMTC PROGRAM · TX · 99% owned · share of income $71 · share of assets $19,402

    Directly controlled by PEOPLEFUND

  • PEOPLEFUND ADVISORS LLC

    RELATED · LOAN ORIGINATION · DC · 50.1% owned · general or managing partner

    Directly controlled by PEOPLEFUND

  • PEOPLEFUND NMTC 4 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 5 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 6 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 7 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 8 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 9 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 10 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 11 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 12 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 13 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 14 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 15 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 16 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 17 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 18 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 19 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 20 LLC

    N/A · NMTC PROGRAM · TX

  • PEOPLEFUND NMTC 21 LLC

    N/A · NMTC PROGRAM · TX

Provenance

Return type
form_990
Tax year
2022
Filed
11 May 2023
IRS schema version
2022v5.0
Source object
202331359349305718

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