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Nonprofiteer
← PROGRESS OKC A COMMUNITY DEVELOPMENT CORPORATION INC

Form 990 for tax year 2024

Filed by PROGRESS OKC A COMMUNITY DEVELOPMENT CORPORATION INC.

Totals

Total revenue
$156,809
Total expenses
$253,763
Contributions and grants received
$83,779
Grants paid
$0
Program service revenue
$75,442
Investment income
-$2,429
Other revenue
$17
Total assets, end of year
$899,682
Total liabilities, end of year
$513,406
Net assets or fund balances, end of year
$386,276
Program services expenses (Part IX)
$248,512
Management and general expenses
$5,251
Fundraising expenses
$0
Program service expenses (Part III)
$248,512

Program services were 97.9% 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

    $83,779

  • 2a · Program service revenue: Accelerator Fees

    total $1,355 · related or exempt $1,355

  • 2b · Program service revenue: Community Svc Facility

    total $34,630 · related or exempt $34,630

  • 2c · Program service revenue: Developer Fees

    total $39,457 · related or exempt $39,457

  • 3 · Investment income

    total $8,237 · excluded $8,237

  • 7a · Gross sales of assets other than inventory

    other assets $394,570

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

    other assets $405,236

  • 7c · Gain or loss

    other assets -$10,666

  • 7d · Net gain or loss

    total -$10,666 · related or exempt -$10,666

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Insurance Refund

    total $17 · related or exempt $17

  • 11e · Other revenue, total

    $17

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $52 · management and general $52

  • 13 · Office expenses

    total $1,669 · management and general $1,669

  • 16 · Occupancy

    total $34,630 · program services $34,630

  • 22 · Depreciation, depletion and amortization

    total $42,258 · program services $42,258

  • 23 · Insurance

    total $3,530 · management and general $3,530

  • 24a · Other expenses: ProgramTech Assistance

    total $136,655 · program services $136,655

  • 24b · Other expenses: MED Week

    total $24,610 · program services $24,610

  • 24c · Other expenses: Program - Other

    total $10,359 · program services $10,359

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,753 · end of year $91,495

  • 2 · Savings and temporary cash investments

    beginning of year $146,974 · end of year $245,212

  • 3 · Pledges and grants receivable

    beginning of year $66,750

  • 4 · Accounts receivable

    beginning of year $1,000

  • 7 · Other notes and loans receivable

    beginning of year $30,745 · end of year $18,565

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

    $422,576

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

    $309,889

  • 10c · Land, buildings and equipment, net

    beginning of year $154,944 · end of year $112,687

  • 15 · Other assets

    beginning of year $831,453 · end of year $431,723

  • 17 · Accounts payable and accrued expenses

    beginning of year $88,698 · end of year $48,549

  • 23 · Secured mortgages and notes payable

    beginning of year $541,705 · end of year $287,871

  • 24 · Unsecured notes and loans payable

    beginning of year $176,986 · end of year $176,986

  • 27 · Net assets without donor restrictions

    beginning of year $238,191 · end of year $187,823

  • 28 · Net assets with donor restrictions

    beginning of year $245,039 · end of year $198,453

Mission and programs · 2024

Mission

Strengthen & preserve the social & economic fabric of OKCs underserved communities by engaging in programs and partnerships focused on housing stability, economic mobility, quality of place, and education.

Activities or mission (Part I)

PROMOTE EMPLOYMENT HOUSINGAND ECONOMIC DEVELOPMENT IN UNDERSERVED AND DISINVESTED COMMUNITIES THROUGHOUT OKLAHOMA CITY

  • Entrepreneurship & Small Business - accelerates inclusive growth and strengthens small business by providing technical assistance and coaching for underserved businesses. Components include networking, industry advice and business planning from vetted experts, technological tools, and culturally competent business skills training and facilitation. To date, the program has had over 258 contacts with small and minority-owned businesses and 104 businesses completing the Accelerator Program. Progress OKC is working to secure funding to expand program offerings so that many more businesses can be reached and helped in 2025 and beyond.

    Expenses $90,552 · Revenue $1,355

  • Minority Enterprise Development Program - holds an annual National Minority Development Week event in Oklahoma City to highlight minority owned businesses across industries and cultures; celebrate achievements and contributions of these businesses and entrepreneurs; and strengthen the minority business ecosystem through best practice education, consumer relations, technology innovation, and capital investment. Event hosts and partners are diverse stakeholders with Progress OKC serving as lead convener. In 2024 the week included 17 events with 35 partners and had over 600 participants.

    Expenses $24,611

  • Housing - Progress OKC builds homes for low-to-moderate (LTM) income buyers. Projects are currently funded by HUD HOME Funds. In 2022 Progress OKC secured funding to build four new homes. All four homes were completed in 2023 and two were sold in early 2024. Since the inception of this program, 13 homes have been completed Eleven of those homes were/will be sold to LTM income buyers and two were market rate homes.

    Expenses $53,011 · Revenue $39,457

  • Community Service Facility

    Expenses $76,888 · Revenue $34,630

  • KIVA Microloan Program

    Expenses $3,450

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ashley Dickson-Oso

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ray Douglas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kelly Gray

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joseph H Allen

    TREASURERSECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Teresa Goggins

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Louis Almaraz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Vilona Michael

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kenton Tsoodle

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Kimberly Francisco

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part II
See Schedulee O

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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202533179349306663

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