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Nonprofiteer
← WORKING CAPITAL FOR COMMUNITY NEEDS INC

Form 990 for tax year 2022

Filed by WORKING CAPITAL FOR COMMUNITY NEEDS INC.

Totals

Total revenue
$1,779,719
Total expenses
$1,579,130
Contributions and grants received
$329,205
Grants paid
$4,265
Program service revenue
$1,443,641
Investment income
$1,674
Other revenue
$5,199
Total assets, end of year
$14,759,724
Total liabilities, end of year
$13,375,285
Net assets or fund balances, end of year
$1,384,439
Program services expenses (Part IX)
$1,234,059
Management and general expenses
$282,856
Fundraising expenses
$62,215
Program service expenses (Part III)
$1,234,059

Program services were 78.1% 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.

  • 1f · All other contributions, gifts and grants

    $329,205

  • 2a · Program service revenue: PROGRAM LOAN INTEREST

    total $1,380,478 · related or exempt $1,380,478

  • 2b · Program service revenue: LOAN ORIGINATION FEES

    total $63,163 · related or exempt $63,163

  • 3 · Investment income

    total $1,674 · excluded $1,674

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $5,199 · excluded $5,199

  • 11e · Other revenue, total

    $5,199

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $4,265 · program services $4,265

  • 5 · Compensation of officers, directors and key employees

    total $127,064 · program services $62,869 · management and general $42,185 · fundraising $22,010

  • 7 · Other salaries and wages

    total $173,588 · program services $61,736 · management and general $89,102 · fundraising $22,750

  • 8 · Pension plan contributions

    total $9,041 · management and general $9,041

  • 9 · Other employee benefits

    total $47,155 · program services $759 · management and general $46,317 · fundraising $79

  • 10 · Payroll taxes

    total $22,414 · program services $11,879 · management and general $9,414 · fundraising $1,121

  • 11b · Fees: legal

    total $25,700 · program services $21,486 · management and general $4,214

  • 11c · Fees: accounting

    total $28,726 · management and general $28,726

  • 11g · Fees: other

    total $172,469 · program services $161,246 · management and general $7,844 · fundraising $3,379

  • 12 · Advertising and promotion

    total $11,763 · program services $3,664 · fundraising $8,099

  • 13 · Office expenses

    total $22,641 · program services $13,124 · management and general $7,806 · fundraising $1,711

  • 14 · Information technology

    total $3,526 · program services $1,502 · management and general $910 · fundraising $1,114

  • 16 · Occupancy

    total $29,940 · program services $16,410 · management and general $12,049 · fundraising $1,481

  • 17 · Travel

    total $20,679 · program services $19,170 · management and general $1,472 · fundraising $37

  • 20 · Interest

    total $373,946 · program services $373,946

  • 23 · Insurance

    total $14,771 · program services $4,269 · management and general $10,369 · fundraising $133

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $474,732 · program services $474,732

  • 24b · Other expenses: BANK AND INVESTMENT FEE

    total $11,377 · management and general $11,251 · fundraising $126

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $5,333 · program services $3,002 · management and general $2,156 · fundraising $175

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $203,128 · end of year $187,211

  • 2 · Savings and temporary cash investments

    beginning of year $766,262 · end of year $683,030

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,546 · end of year $13,644

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

    $10,814

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

    $10,814

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $13,086,617 · end of year $13,599,744

  • 15 · Other assets

    beginning of year $340,650 · end of year $276,095

  • 17 · Accounts payable and accrued expenses

    beginning of year $157,113 · end of year $151,332

  • 22 · Loans and payables to officers and key people

    beginning of year $224,391 · end of year $224,391

  • 24 · Unsecured notes and loans payable

    beginning of year $12,758,204 · end of year $12,944,267

  • 25 · Other liabilities

    beginning of year $84,246 · end of year $55,295

  • 27 · Net assets without donor restrictions

    beginning of year $1,183,249 · end of year $1,374,439

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $10,000

Mission and programs · 2022

Mission

WORKING CAPITAL FOR COMMUNITY NEEDS (WCCN) IS A NONPROFIT IMPACT INVESTING FUND WHOSE MISSION IS TO CREATE OPPORTUNITIES FOR ACCESS TO MICROFINANCE, SERVICES, AND MARKETS TO IMPROVE THE LIVES AND COMMUNITIES OF THE WORKING POOR IN LATIN AMERICA. THE WCCN MISSION RESTS ON THE IDEA THAT HAVING ACCESS TO OPPORTUNITY EXTENDED FROM A SUPPORTIVE PARTNER IN ONE'S COMMUNITY IS A KEY FACTOR IN DETERMINING WHETHER OR NOT SOMEONE MOVES OUT OF POVERTY.

Activities or mission (Part I)

WORKING CAPITAL FOR COMMUNITY NEEDS PARTNERS WITH INDIVIDUALS AND ORGANIZATIONS IN LATIN AMERICA AND THE UNITED STATES TO BUILD SUSTAINABLE ECONOMIC OPPORTUNITIES THAT HELP PEOPLE WORK THEIR WAY OUT OF POVERTY.

  • WCCN IS A NONPROFIT ORGANIZATION THAT EMPOWERS LOW-INCOME LATIN AMERICAN ENTREPRENEURS AND SMALL-SCALE FARMERS THROUGH MICROCREDIT, FAIR TRADE, AND WOMEN'S EMPOWERMENT INITIATIVES. SINCE OUR 1984 FOUNDING, WE CONTINUE TO IMPLEMENT SUSTAINABLE ECONOMIC AND SOCIAL ADVANCEMENT PROGRAMS THROUGH PARTNERSHIPS WITH MICROFINANCE INSTITUTIONS, DEVELOPMENT ORGANIZATIONS, AND COOPERATIVES IN ECUADOR, EL SALVADOR, HONDURAS, GUATEMALA, NICARAGUA, COLOMBIA, MEXICO, AND PERU.

    Expenses $1,232,154 · Grants $4,265 · Revenue $1,443,641

  • WCCN ALSO FOSTERS GREATER UNDERSTANDING, GOODWILL, AND PEACE THROUGH PEOPLE-TO-PEOPLE EXCHANGES AND OUR EDUCATIONAL ACTIVITIES. OUR EDUCATIONAL ACTIVITIES INCLUDE U.S./LATIN AMERICAN SPEAKER EXCHANGES, STUDY TOURS TO LATIN AMERICA, AND A QUARTERLY NEWSLETTER.

    Expenses $1,905

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Layla Kaiksow

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Megan Vander Wyst

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Frank Staniszewski

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Leilani Yats

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Anna Kaminski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Felipe Arango

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gloria Castillo Posada

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Grecia De La O Abarca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Isabelle Barres

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Javier Monterroso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jordan Van Rijn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Juan Gomez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Elsdon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Will Harris

    EXECUTIVE DIRECTOR

    Total calculated
    $127,065
    From this org
    $106,045
    From related orgs
    $0
    Other
    $21,020
    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.

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.

  • COMMUNITY NEEDS LLC

    PROMOTE ECONOMIC DEVELOPMENT IN THE GREATER LATIN AMERICAN REGION · WI · income $17,989 · assets $2,592

    Directly controlled by WORKING CAPITAL FOR COMMUNITY NEEDS INC

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202322779349300427

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