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Nonprofiteer
← METAFUND CORPORATION

Form 990 for tax year 2022

Filed by METAFUND CORPORATION.

Totals

Total revenue
$4,117,417
Total expenses
$2,822,891
Contributions and grants received
$845,000
Grants paid
$20,650
Program service revenue
$3,167,658
Investment income
$103,543
Other revenue
$1,216
Total assets, end of year
$36,688,819
Total liabilities, end of year
$22,489,725
Net assets or fund balances, end of year
$14,199,094
Program services expenses (Part IX)
$2,247,641
Management and general expenses
$575,250
Fundraising expenses
$0
Program service expenses (Part III)
$2,247,641

Program services were 79.6% 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

    $845,000

  • 2a · Program service revenue: FEE INCOME

    total $1,774,818 · related or exempt $1,774,818

  • 2b · Program service revenue: LOAN INTEREST INCOME

    total $1,384,438 · related or exempt $1,384,438

  • 2c · Program service revenue: PROJECT DIVIDEND INCOM

    total $8,402 · related or exempt $8,402

  • 3 · Investment income

    total $103,543 · excluded $103,543

  • 11a · Other revenue: OTHER INCOME

    total $1,216 · related or exempt $1,216

  • 11e · Other revenue, total

    $1,216

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,650 · program services $20,650

  • 5 · Compensation of officers, directors and key employees

    total $1,189,414 · program services $951,769 · management and general $237,645

  • 7 · Other salaries and wages

    total $452,735 · program services $362,279 · management and general $90,456

  • 8 · Pension plan contributions

    total $20,598 · program services $16,483 · management and general $4,115

  • 9 · Other employee benefits

    total $38,261 · program services $30,616 · management and general $7,645

  • 10 · Payroll taxes

    total $100,948 · program services $80,779 · management and general $20,169

  • 11b · Fees: legal

    total $41,383 · program services $27,545 · management and general $13,838

  • 11c · Fees: accounting

    total $220,795 · program services $146,962 · management and general $73,833

  • 11g · Fees: other

    total $122,946 · program services $81,833 · management and general $41,113

  • 12 · Advertising and promotion

    total $11,763 · program services $9,104 · management and general $2,659

  • 13 · Office expenses

    total $7,241 · program services $5,770 · management and general $1,471

  • 16 · Occupancy

    total $53,910 · program services $43,139 · management and general $10,771

  • 17 · Travel

    total $10,851 · program services $8,937 · management and general $1,914

  • 19 · Conferences, conventions and meetings

    total $1,524 · program services $712 · management and general $812

  • 20 · Interest

    total $164,823 · program services $120,321 · management and general $44,502

  • 22 · Depreciation, depletion and amortization

    total $9,567 · program services $6,983 · management and general $2,584

  • 23 · Insurance

    total $57,129 · program services $45,715 · management and general $11,414

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $275,000 · program services $275,000

  • 24b · Other expenses: TELEPHONE EXPENSE

    total $13,045 · program services $10,439 · management and general $2,606

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $6,739 · management and general $6,739

  • 24d · Other expenses: MEALS AND ENTERTAINMENT

    total $3,569 · program services $2,605 · management and general $964

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,112,594 · end of year $5,610,863

  • 2 · Savings and temporary cash investments

    beginning of year $4,973,806 · end of year $5,891,303

  • 4 · Accounts receivable

    beginning of year $154,074 · end of year $35,141

  • 7 · Other notes and loans receivable

    beginning of year $20,821,915 · end of year $23,939,471

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,980 · end of year $34,791

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

    $116,541

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

    $108,334

  • 10c · Land, buildings and equipment, net

    beginning of year $15,548 · end of year $8,207

  • 11 · Investments: publicly traded securities

    beginning of year $188,700 · end of year $200,100

  • 13 · Investments: program-related

    beginning of year $4,345,881 · end of year $779,488

  • 15 · Other assets

    beginning of year $0 · end of year $189,455

  • 17 · Accounts payable and accrued expenses

    beginning of year $281,105 · end of year $497,937

  • 19 · Deferred revenue

    beginning of year $907,299 · end of year $862,934

  • 23 · Secured mortgages and notes payable

    beginning of year $1,945,335 · end of year $2,551,998

  • 25 · Other liabilities

    beginning of year $18,637,421 · end of year $18,576,856

  • 27 · Net assets without donor restrictions

    beginning of year $12,901,338 · end of year $14,199,094

Mission and programs · 2022

Mission

TO PROMOTE COMMUNITY, ECONOMIC, AND WORKFORCE DEVELOPMENT THROUGHOUT THE STATE OF OKLAHOMA AND THE UNITED STATES OF AMERICA.

Activities or mission (Part I)

SEE SCHEDULE O. METAFUND CORPORATION'S MISSION IS TO PROMOTE COMMUNITY, ECONOMIC, AND WORKFORCE DEVELOPMENT THROUGHOUT THE STATE OF OKLAHOMA AND THE UNITED STATES, THROUGH FINANCING AND CONSULTING. METAFUND ACHIEVES SUSTAINABLE SOCIAL IMPACT BY PROVIDING ACCESS TO DIVERSE SOURCES OF CAPITAL, AS WELL AS STRATEGIC ADVICE, GENERATING CREATIVE SOLUTIONS THAT BENEFIT UNDER-RESOURCED COMMUNITIES.

  • METAFUND CORPORATION'S BUSINESS DEVELOPMENT PROGRAMS PROMOTE SUSTAINABLE SOCIAL IMPACT BY PROVIDING ACCESS TO DIVERSE SOURCES OF CAPITAL, AS WELL AS STRATEGIC ADVICE, GENERATING CREATIVE SOLUTIONS THAT BENEFIT UNDER-RESOURCED COMMUNITIES AND BUSINESSES. OUR PROGRAM SOLUTIONS INCLUDE TAX-CREDIT ELIGIBLE INVESTMENTS, FLEXIBLE DIRECT LENDING AND CREDIT ENHANCEMENT INVESTMENTS FOR MISSION-BASED ORGANIZATIONS AND SMALL BUSINESSES IN QUALIFYING AREAS, LOW-INCOME HOUSING-RELATED MORTGAGE ACQUISITIONS, AND UP-FRONT FINANCING FOR PAY-FOR-SUCCESS OUTCOME-BASED REPAYMENT STRUCTURES FOR SERVICE PROVIDERS THAT CREATE MEASURABLE PUBLIC BENEFITS.

    Expenses $2,247,641 · Grants $20,650 · Revenue $3,168,874

As filed on the 2022 return.

Listed in Part VII

  • A Thomas Loy

    CHIEF EXECUTIVE OFFICER/CHAIRMAN

    Total calculated
    $270,947
    From this org
    $248,013
    From related orgs
    $0
    Other
    $22,934
    Hours/week
    31 + 1 related

    Schedule J breakdown matched by us

    Base
    $160,614
    Bonus
    $87,399
    Other
    $0
    Deferred
    $20,109
    Nontaxable benefits
    $2,825
    Filer's total
    $270,947

  • Jill Castilla

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • James Finch

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Raul Font

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Jane Haskin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Deborah Jenkins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Charles Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Sarah Reed

    EXEC. VICE PRESIDENT, CFO AND COO

    Total calculated
    $232,669
    From this org
    $200,381
    From related orgs
    $0
    Other
    $32,288
    Hours/week
    31 + 1 related

    Schedule J breakdown matched by us

    Base
    $140,381
    Bonus
    $60,000
    Other
    $0
    Deferred
    $16,800
    Nontaxable benefits
    $15,488
    Filer's total
    $232,669

  • Blake Trippet

    PRESIDENT

    Total calculated
    $232,525
    From this org
    $200,940
    From related orgs
    $0
    Other
    $31,585
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $140,940
    Bonus
    $60,000
    Other
    $0
    Deferred
    $16,800
    Nontaxable benefits
    $14,785
    Filer's total
    $232,525

  • Ed Long

    CHIEF IMPACT OFFICER

    Total calculated
    $164,745
    From this org
    $140,067
    From related orgs
    $0
    Other
    $24,678
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $120,067
    Bonus
    $20,000
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $13,078
    Filer's total
    $164,745

  • Maurianna Adams

    CHIEF COMMUNITY INVESTMENT OFFICER

    Total calculated
    $141,277
    From this org
    $124,631
    From related orgs
    $0
    Other
    $16,646
    Hours/week
    32

  • Robert Dilg

    TREASURER AND CHIEF RISK OFFICER

    Total calculated
    $147,251
    From this org
    $122,964
    From related orgs
    $0
    Other
    $24,287
    Hours/week
    32

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings
  • 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
  • 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
WE HAD AN INDEPENDENT REVIEW PERFORMED IN A PRIOR YEAR TO ESTABLISH PROPRIETY OF THE CEO'S COMPENSATION PLAN. THE PLAN HAS NOT CHANGED NOR HAS THE BASE SALARY BEEN ADJUSTED SINCE THIS INDEPENDENT REVIEW WAS PERFORMED. THEREFORE WE STILL FEEL CONFIDENT THAT WE ARE AT OR BELOW INDUSTRY NORMS FOR THE COMPENSATION PLAN.
PART I, LINE 6
BONUS AND INCENTIVE PLAN FOR THE CEO CALCULATES BONUS AS A CAPPED PERCENTAGE OF CURRENT YEAR CHANGE IN NET ASSETS AND AS A CAPPED PERCENTAGE OF 5-YEAR AVERAGE ANNUAL CHANGE IN NET ASSETS. BONUS AND INCENTIVE PLAN UTILIZES AUDITED FINANCIAL STATEMENTS FOR CALCULATIONS. PLAN IS EFFECTIVE ONLY FOR YEAR IN WHICH NET ASSETS ARE POSITIVE AT DECEMBER 31.
PART I, LINE 7
A. THOMAS LOY, BLAKE TRIPPET, SARAH REED, ED LONG, MAURIANNA ADAMS, AND ROBERT DILG RECEIVED DISCRETIONARY PERFORMANCE BONUSES DURING THE YEAR.

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.

  • OKLAHOMA IMPACT INVESTING COLLABORATIVE (FKA IMPACT ACCELERATOR)

    TO SUPPORT METAFUND CORPORATION'S MISSION · OK · income $217,958 · assets $4,275,413

    Directly controlled by METAFUND CORPORATION

Related partnerships

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

  • MF BLUE WAVE LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.1% owned · share of income $84 · share of assets $7,507 · general or managing partner

    Directly controlled by METAFUND

  • MMOK SUB VI LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.1% owned · share of income $112 · share of assets $7,508 · general or managing partner

    Directly controlled by METAFUND

  • MMOK SUB VII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.1% owned · share of income $108 · share of assets $16,000 · general or managing partner

    Directly controlled by METAFUND

  • MMOK SUB VIII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $1 · share of assets $1,000 · general or managing partner

    Directly controlled by METAFUND

  • MMOK SUB IX LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $3 · share of assets $900 · general or managing partner

    Directly controlled by METAFUND

  • MMOK SUB X LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XI LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $6 · share of assets $900 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $3 · share of assets $600 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XIII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $7 · share of assets $1,500 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XIV LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $15 · share of assets $2,000 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XV LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $4 · share of assets $600 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XVI LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $8 · share of assets $1,500 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XVII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 0.01% owned · share of income $11 · share of assets $1,900 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XVIII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XIX LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XX LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XXI LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XXII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XXIII LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XXIV LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

  • METAFUND SUBSIDIARY XXV LLC

    RELATED · ECONOMIC DEVELOPMENT · OK · 99.99% owned · share of assets $100 · general or managing partner

    Directly controlled by METAFUND

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • METACORP INC

    C · INVESTMENT · OK · 100% owned · share of income $71,258 · share of assets $484,349 · controlled entity

    Directly controlled by METAFUND

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333189349316158

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