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Nonprofiteer
← ALLIES FOR COMMUNITY BUSINESS INC

Form 990 for tax year 2023

Filed by ALLIES FOR COMMUNITY BUSINESS INC.

Totals

Total revenue
$9,139,197
Total expenses
$8,848,618
Contributions and grants received
$7,140,700
Grants paid
$952,540
Program service revenue
$1,938,034
Investment income
$79,460
Other revenue
-$18,997
Total assets, end of year
$35,556,703
Total liabilities, end of year
$21,223,186
Net assets or fund balances, end of year
$14,333,517
Program services expenses (Part IX)
$7,595,298
Management and general expenses
$696,842
Fundraising expenses
$556,478
Program service expenses (Part III)
$7,595,298

Program services were 85.8% 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.

  • 1c · Fundraising events

    $74,068

  • 1e · Government grants (contributions)

    $1,962,771

  • 1f · All other contributions, gifts and grants

    $5,103,861

  • 2a · Program service revenue: LOAN INTEREST

    total $1,270,119 · related or exempt $1,270,119

  • 2b · Program service revenue: LOAN FEES

    total $663,175 · related or exempt $663,175

  • 2c · Program service revenue: PARTICIPATION INCOME

    total $4,740 · related or exempt $4,740

  • 3 · Investment income

    total $79,460 · excluded $79,460

  • 7a · Gross sales of assets other than inventory

    other assets $189,499

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

    other assets $189,499

  • 7c · Gain or loss

    other assets $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $74,068

  • 8b · Fundraising events: direct expenses

    $18,997

  • 8c · Net income from fundraising events

    total -$18,997 · excluded -$18,997

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $901,833 · program services $901,833

  • 2 · Grants to domestic individuals

    total $50,707 · program services $50,707

  • 5 · Compensation of officers, directors and key employees

    total $235,930 · program services $202,074 · management and general $18,544 · fundraising $15,312

  • 7 · Other salaries and wages

    total $2,910,706 · program services $2,250,467 · management and general $356,749 · fundraising $303,490

  • 8 · Pension plan contributions

    total $76,363 · program services $58,746 · management and general $9,981 · fundraising $7,636

  • 9 · Other employee benefits

    total $281,487 · program services $216,548 · management and general $36,790 · fundraising $28,149

  • 10 · Payroll taxes

    total $254,397 · program services $197,849 · management and general $30,830 · fundraising $25,718

  • 11b · Fees: legal

    total $562 · program services $480 · management and general $82

  • 11c · Fees: accounting

    total $128,007 · program services $104,114 · management and general $17,689 · fundraising $6,204

  • 11g · Fees: other

    total $288,397 · program services $258,789 · management and general $29,608

  • 12 · Advertising and promotion

    total $22,536 · program services $19,002 · management and general $1,039 · fundraising $2,495

  • 13 · Office expenses

    total $83,161 · program services $64,420 · management and general $10,378 · fundraising $8,363

  • 14 · Information technology

    total $350,931 · program services $276,288 · management and general $42,288 · fundraising $32,355

  • 16 · Occupancy

    total $652,155 · program services $501,703 · management and general $85,237 · fundraising $65,215

  • 17 · Travel

    total $5,040 · program services $4,022 · management and general $577 · fundraising $441

  • 20 · Interest

    total $957,090 · program services $957,090

  • 22 · Depreciation, depletion and amortization

    total $223,273 · program services $171,764 · management and general $29,182 · fundraising $22,327

  • 23 · Insurance

    total $31,169 · program services $23,978 · management and general $4,074 · fundraising $3,117

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $828,476 · program services $828,476

  • 24b · Other expenses: CREDIT AND COLLECTIONS

    total $457,094 · program services $457,021 · management and general $41 · fundraising $32

  • 24c · Other expenses: OTHER

    total $72,587 · program services $22,133 · management and general $19,043 · fundraising $31,411

  • 24d · Other expenses: TRAINING

    total $36,717 · program services $27,794 · management and general $4,710 · fundraising $4,213

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,958,840 · end of year $6,281,152

  • 2 · Savings and temporary cash investments

    beginning of year $11,468,202 · end of year $4,335,500

  • 3 · Pledges and grants receivable

    beginning of year $407,576 · end of year $590,801

  • 7 · Other notes and loans receivable

    beginning of year $23,366,049 · end of year $15,824,898

  • 9 · Prepaid expenses and deferred charges

    beginning of year $230,748 · end of year $218,796

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

    $1,384,903

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

    $1,026,115

  • 10c · Land, buildings and equipment, net

    beginning of year $460,355 · end of year $358,788

  • 13 · Investments: program-related

    beginning of year $4,579,459 · end of year $4,330,956

  • 15 · Other assets

    beginning of year $3,808,577 · end of year $3,615,812

  • 17 · Accounts payable and accrued expenses

    beginning of year $715,022 · end of year $364,859

  • 19 · Deferred revenue

    beginning of year $10,000 · end of year $60,000

  • 23 · Secured mortgages and notes payable

    beginning of year $22,594,847 · end of year $16,576,071

  • 25 · Other liabilities

    beginning of year $4,106,405 · end of year $4,222,256

  • 27 · Net assets without donor restrictions

    beginning of year $6,246,543 · end of year $6,772,125

  • 28 · Net assets with donor restrictions

    beginning of year $13,606,989 · end of year $7,561,392

Mission and programs · 2023

Mission

ALLIES FOR COMMUNITY BUSINESS IS A NONPROFIT THAT PROVIDES THE CAPITAL, COACHING, AND CONNECTIONS ENTREPRENEURS NEED TO GROW GREAT BUSINESSES THAT CREATE JOBS AND WEALTH IN THEIR COMMUNITIES.

Activities or mission (Part I)

PROVIDE CREDIT AND SERVICES TO SMALL BUSINESSES WITHOUT ACCESS TO TRADITIONAL SOURCES OF FINANCING.

  • ALLIES FOR COMMUNITY BUSINESS (A4CB) SUPPORTS SMALL BUSINESSES THAT STRENGTHEN THEIR COMMUNITIES. THEY PROVIDE THE CAPITAL, COACHING, AND CONNECTIONS ENTREPRENEURS NEED TO GROW GREAT BUSINESSES THAT CREATE JOBS AND WEALTH THEIR COMMUNITIES. AS A NONPROFIT LOCATED ON CHICAGO'S WEST SIDE, A4CB PRIORITIZES BLACK, HISPANIC/LATINX, WOMEN, AND LOW-INCOME ENTREPRENEURS THROUGHOUT THE CHICAGOLAND AREA AND BEYOND. THEY OFFER LOANS BETWEEN $500 AND $100,000 TO EARLY, EMERGING, AND ESTABLISHED BUSINESSES AT FAIR PRICES. IN ADDITION, THEY PROVIDE FREE COACHING TO ANYONE WHO WANTS TO START OR GROW A BUSINESS, AND THEY CONNECT ENTREPRENEURS TO TRUSTED PARTNERS THAT CAN HELP FURTHER.

    Expenses $7,595,298 · Grants $952,540 · Revenue $1,938,034

As filed on the 2023 return.

Listed in Part VII

  • Brad McConnell

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $224,376
    From this org
    $217,337
    From related orgs
    $0
    Other
    $7,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,744
    Bonus
    $18,593
    Other
    $0
    Deferred
    $7,039
    Nontaxable benefits
    $0
    Filer's total
    $224,376

  • Mary Tritsis

    DIRECTOR OF COMMUNITY BUSI

    Total calculated
    $186,530
    From this org
    $168,842
    From related orgs
    $0
    Other
    $17,688
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,150
    Bonus
    $15,692
    Other
    $0
    Deferred
    $5,352
    Nontaxable benefits
    $12,336
    Filer's total
    $186,530

  • Rowan Richards

    DIRECTOR OF COACHING AND C

    Total calculated
    $183,830
    From this org
    $178,478
    From related orgs
    $0
    Other
    $5,352
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,786
    Bonus
    $15,692
    Other
    $0
    Deferred
    $5,352
    Nontaxable benefits
    $0
    Filer's total
    $183,830

  • Jennie Motto Mesterharm

    CHIEF OF STAFF

    Total calculated
    $162,070
    From this org
    $140,481
    From related orgs
    $0
    Other
    $21,589
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,996
    Bonus
    $13,485
    Other
    $0
    Deferred
    $4,881
    Nontaxable benefits
    $16,708
    Filer's total
    $162,070

  • Mary Riley

    DIRECTOR OF COMMUNITY RELA

    Total calculated
    $152,593
    From this org
    $142,208
    From related orgs
    $0
    Other
    $10,385
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,290
    Bonus
    $12,918
    Other
    $0
    Deferred
    $4,403
    Nontaxable benefits
    $5,982
    Filer's total
    $152,593

  • Jill Kozeluh

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $151,057
    From this org
    $146,399
    From related orgs
    $0
    Other
    $4,658
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,481
    Bonus
    $12,918
    Other
    $0
    Deferred
    $4,403
    Nontaxable benefits
    $255
    Filer's total
    $151,057

  • S Michael McCracken

    CHAIR, PORTFOLIO AND CREDIT COMMITTEE

    Total calculated
    $0
    Hours/week
    2.25

  • Michelle T Thom

    CHAIR

    Total calculated
    $0
    Hours/week
    2.25

  • Joe Neri

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    2.25

  • Ben Bochnowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Darlene Hightower

    CHAIR, OUTREACH

    Total calculated
    $0
    Hours/week
    2.25

  • Oscar Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Bernita Johnson-Gabriel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Horacio Mendez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Clemente Nicado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Juan Ortiz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Adrianne Spivey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Shandra Richardson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

  • Anthony Waller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.25

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 survey or study
  • 3 · Approval by the board or compensation committee

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

  • CROWN FAMILY FOUNDATION

    $50,000

    TO SUPPORT THE HATCHERY PROGRAMMING

  • AFRO JOES

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • CHAZERLY DESIGNS LLC

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • ESSENTIAL CREATIONS

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • FOOD HERO

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • G & B FILLING STATION

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • GREEN GARDEN CAFE

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • GROWING BOUNDLESSLY

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • HOLD YOUR LUGGAGE

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

  • IDA'S ARTISAN ICE CREAM

    $20,510

    SUPPORT FOR NEIGHBORHOOD ENTREPRENEURSHIP LAB COHORTS DESIGNED TO PROVIDE ASSISTANCE TO SMALL BUSINESSES

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
10 July 2024
IRS schema version
2023v5.1
Source object
202432119349301023

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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