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Nonprofiteer
← CAPITAL GOOD FOR HUMANITY INC

Form 990 for tax year 2023

Filed by CAPITAL GOOD FOR HUMANITY INC.

Totals

Total revenue
$661,096
Total expenses
$634,325
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$494,784
Investment income
$165,577
Other revenue
$735
Total assets, end of year
$7,440,529
Total liabilities, end of year
$5,241,645
Net assets or fund balances, end of year
$2,198,884
Program services expenses (Part IX)
$634,325
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$634,325

Program services were 100.0% 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: MORTGAGE INTEREST INCO

    total $494,784 · related or exempt $494,784

  • 3 · Investment income

    total $165,577 · excluded $165,577

  • 11a · Other revenue: LATE FEE INCOME

    total $735 · excluded $735

  • 11e · Other revenue, total

    $735

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $131,758 · program services $131,758

  • 11g · Fees: other

    total $5,875 · program services $5,875

  • 13 · Office expenses

    total $75 · program services $75

  • 24a · Other expenses: COST OF HOMES SOLD

    total $495,856 · program services $495,856

  • 24b · Other expenses: OTHER EXPENSES

    total $761 · program services $761

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,170,550 · end of year $5,490,304

  • 4 · Accounts receivable

    beginning of year $1,882,073 · end of year $1,950,225

  • 9 · Prepaid expenses and deferred charges

    beginning of year $435 · end of year $0

  • 25 · Other liabilities

    beginning of year $4,880,945 · end of year $5,241,645

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,172,113 · end of year $2,198,884

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

PROMOTE AFFORDABLE HOUSING THROUGH TRAINING, LENDING, DEVELOPMENT AND BUILDING ACTIVITIES AND PROGRAMS.

  • A. CAUSE- WE ARE DRIVEN TO LIFT THE COMMUNITY THROUGH RESPONSIBLE, AFFORDABLE LENDING FOR STRUGGLING FAMILIES. THIS ORGANIZATION WAS FORMED TO MEET THE NEEDS OF OUR COMMUNITY WHICH IS CURRENTLY THE MOST COST-BURDENED PLACE TO LIVE IN THE COUNTRY. THE ORGANIZATION WILL BEGIN LENDING IN FALL OF 2021 AND BE FULLY OPERATIONAL AT THIS TIME. WE SERVE WORKING FAMILIES THAT CANNOT AFFORD THE MEDIAN-PRICED HOME IN THE MARKET WITHOUT SUPPORT OR SUBSIDY. THIS WILL INCLUDE, BUT NOT BE LIMITED TO, LOW-TO-MODERATE INCOME FAMILIES. ELIGIBILITY WILL BE DETERMINED BY INCOME, TAX RETURNS, STANDARD DOCUMENTATION REQUIRED BY LENDERS, CRIMINAL BACKGROUND CHECKS AND ADDITIONAL DOCUMENTATION AS NEEDED. THE THRESHOLD FOLLOWED FOR DETERMINING LOW-TO-MODERATE INCOME STANDARD WILL BE SET FORTH BY HUD THROUGH THE AREA MEDIAN INCOME (AMI). THE ACTIVITIES OF THE ORGANIZATION WILL BE IMPLEMENTED BY FULL-TIME STAFF WHO HAVE RECEIVED PROPER LENDING TRAINING AND CARRY NECESSARY LICENSES FOR TYPE OF LENDING WE SEEK TO OFFER. (EXAMPLE- NATIONWIDE MORTGAGE LICENSING SYSTEM REGISTRATION OR MORTGAGE LOAN ORIGINATOR LICENSES FOR STAFF UNDERWRITING MORTGAGES.) AS WELL, ADDITIONAL OUTSOURCING MAYBE BE REQUIRED WITH INCREASED VOLUME. (EXAMPLE- UTILIZING A SERVICING COMPANY TO SERVICE LOANS ONCE ORIGINATED.) THE ACTIVITY WILL BE CONDUCTED ON AN ANNUAL BASIS THROUGH IN-HOUSE AND CONTRACTED SERVICES. THE BUSINESS WILL BE OPERATED BY SEVERAL FULL-TIME STAFF MEMBERS CONTRIBUTING 75% OR MORE OF THEIR MONTHLY BUSINESS HOURS. IT WILL BE HOUSED AT HABITAT FOR HUMANITY OF BROWARD CORPORATE HEADQUARTERS. THIS BUSINESS WILL ALLOW US TO INCREASE OUR LENDING VOLUME TO SERVE MORE FAMILIES IN THE COMMUNITY. OUR OPERATIONS WILL BE FUNDED THROUGH A COMBINATION OF PRIVATE SUPPORT SUCH AS DONATIONS, BANK INVESTMENTS OR GRANTS, GOVERNMENT GRANTS, OUR SOCIAL ENTERPRISE AND THE FUTURE SALE OF LOANS.

    Expenses $634,325 · Revenue $494,784

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Melonie Bully-Chambers

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Nancy Robin

    VICE PRESIDENT

    Total calculated
    $214,579
    From this org
    $0
    From related orgs
    $214,579
    Other
    $0
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,579 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $214,579 related

  • Benjamin Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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

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)

FORM 990, SCHEDULE J, LINE 3
THE COMPENSATION REPORTED ON SCHEDULE J, PART II, WAS PAID TO THE EXECUTIVE DIRECTOR / CEO BY THE RELATED ORGANIZATION. THE COMPENSATION IS APPROVED BY THE BOARD AND OR COMPENSATION COMMITTEE WITHIN THE RELATED ORGANIZATION.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202521359349309332

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