Totals
- Total revenue
- $297,922
- Total expenses
- $747,672
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $295,331
- Investment income
- $0
- Other revenue
- $2,591
- Total assets, end of year
- $4,843,341
- Total liabilities, end of year
- $450,000
- Net assets or fund balances, end of year
- $4,393,341
- Program services expenses (Part IX)
- $426,352
- Management and general expenses
- $162,639
- Fundraising expenses
- $158,681
- Program service expenses (Part III)
- $426,352
Program services were 57.0% 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.
-
2a · Program service revenue: Consumer lending
total $295,331 · related or exempt $295,331
-
11d · All other revenue
total $2,591 · excluded $2,591
-
11e · Other revenue, total
$2,591
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $239,274 · program services $47,855 · management and general $119,637 · fundraising $71,782
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $81,221 · fundraising $81,221
-
11c · Fees: accounting
total $2,991 · management and general $2,991
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $116,742 · program services $116,742
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $18,928 · program services $3,786 · management and general $9,464 · fundraising $5,678
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $19,572 · management and general $19,572
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $10,614 · management and general $10,614
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: Tansaction fees for loan activities
total $21,599 · program services $21,599
-
24b · Other expenses: Bad debt expense
total $233,867 · program services $233,867
-
24e · All other expenses
total $2,864 · program services $2,503 · management and general $361
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,025,000 · end of year $161,858
-
9 · Prepaid expenses and deferred charges
end of year $15,320
-
13 · Investments: program-related
end of year $4,666,163
-
24 · Unsecured notes and loans payable
end of year $450,000
-
27 · Net assets without donor restrictions
beginning of year $1,025,000 · end of year $4,393,341
Mission and programs · 2023
Mission
To be a catalyst for investment in Los Angeles metropolitan communities throught innovative financial products, targeted economic and community development programming, and the development of strategic partnerships that promote community collaboration and capacity building.
Activities or mission (Part I)
See description on Page 2, Part III, Line 1
-
In 2023 the Organization continued to deploy needed financing to underserved and overlooked entrepreneurs. The Organization was able expand its reach to more communities and serve more entrepreneurs, providing access to capital to support new, small business creation as well as support the growth of existing small businesses. In addition to small business and micro loans, the Organization increased the availability, accessibility and flexibility of its capital by offering revenue-based financing loans to entrepreneurs. We deployed over 4million to minority entrepreneurs in Southern California.
Expenses $426,352 · Revenue $295,331
As filed on the 2023 return.
Listed in Part VII
-
David Desai-RamirezDAVID DESAI-RAMIREZ
PRESIDENT
- Total calculated
- $211,049
- From this org
- $0
- From related orgs
- $196,049
- Other
- $15,000
- Hours/week
- 40 + 5 related
Schedule J breakdown matched by us
- Base
- not reported + $205,961 related
- Bonus
- not reported + $5,000 related
- Other
- not reported
- Deferred
- not reported + $6,329 related
- Nontaxable benefits
- not reported + $8,503 related
- Filer's total
- not reported + $225,793 related
-
Jacquelyn JonesJACQUELYN JONES
CHAIR
- Total calculated
- $0
- Hours/week
- 1.5
-
Daniel FernandezDANIEL FERNANDEZ
TREASURER
- Total calculated
- $0
- Hours/week
- 1.5
-
Ruben Alonso IIIRUBEN ALONSO III
SECRETARY
- Total calculated
- $0
- Hours/week
- 1.5 + 40 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
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
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.
-
501c4 · Economic Develpment · MO
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403209349325005
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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