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← ALTCAP

Form 990 for tax year 2022

Filed by ALTCAP.

Totals

Total revenue
$6,756,411
Total expenses
$5,241,269
Contributions and grants received
$4,755,795
Grants paid
$1,576,467
Program service revenue
$1,950,803
Investment income
$36,813
Other revenue
$13,000
Total assets, end of year
$30,256,354
Total liabilities, end of year
$12,845,783
Net assets or fund balances, end of year
$17,410,571
Program services expenses (Part IX)
$3,861,067
Management and general expenses
$1,064,860
Fundraising expenses
$315,342
Program service expenses (Part III)
$3,861,066

Program services were 73.7% 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.

  • 1e · Government grants (contributions)

    $4,214,502

  • 1f · All other contributions, gifts and grants

    $541,293

  • 2a · Program service revenue: New Market Tax Credit fees

    total $1,347,893 · related or exempt $1,347,893

  • 2b · Program service revenue: Consumer lending

    total $602,910 · related or exempt $602,910

  • 3 · Investment income

    total $36,813 · excluded $36,813

  • 11d · All other revenue

    total $13,000 · excluded $13,000

  • 11e · Other revenue, total

    $13,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,576,467 · program services $1,576,467

  • 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 $358,694 · program services $139,227 · management and general $179,346 · fundraising $40,121

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,087,735 · program services $687,813 · management and general $320,143 · fundraising $79,779

  • 8 · Pension plan contributions

    total $13,132 · program services $8,304 · management and general $3,865 · fundraising $963

  • 9 · Other employee benefits

    total $103,262 · program services $65,296 · management and general $30,392 · fundraising $7,574

  • 10 · Payroll taxes

    total $113,215 · program services $64,734 · management and general $39,096 · fundraising $9,385

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $192,612 · program services $192,612

  • 11c · Fees: accounting

    total $114,719 · management and general $114,719

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $316,770 · program services $35,315 · management and general $111,110 · fundraising $170,345

  • 12 · Advertising and promotion

    total $13,874 · program services $8,626 · management and general $5,248

  • 13 · Office expenses

    total $32,114 · program services $13,393 · management and general $16,779 · fundraising $1,942

  • 14 · Information technology

    total $81,369 · management and general $81,369

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $47,717 · program services $27,284 · management and general $16,478 · fundraising $3,955

  • 17 · Travel

    total $64,178 · management and general $64,178

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $32,631 · management and general $32,631

  • 20 · Interest

    total $294,550 · program services $294,550

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $15,415 · program services $8,814 · management and general $5,323 · fundraising $1,278

  • 23 · Insurance

    total $23,526 · management and general $23,526

  • 24a · Other expenses: Bad debt expense

    total $702,754 · program services $702,754

  • 24b · Other expenses: Lending activities direct costs

    total $11,509 · program services $11,509

  • 24c · Other expenses: Nest Stage

    total $4,663 · program services $4,663

  • 24e · All other expenses

    total $40,363 · program services $19,706 · management and general $20,657

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,177,048 · end of year $9,178,660

  • 2 · Savings and temporary cash investments

    end of year $4,000,000

  • 4 · Accounts receivable

    beginning of year $467,527 · end of year $589,160

  • 7 · Other notes and loans receivable

    beginning of year $16,286,199 · end of year $16,139,785

  • 9 · Prepaid expenses and deferred charges

    end of year $46,029

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

    $22,260

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

    $21,716

  • 10c · Land, buildings and equipment, net

    beginning of year $860 · end of year $544

  • 13 · Investments: program-related

    beginning of year $275,450 · end of year $272,300

  • 14 · Intangible assets

    beginning of year $44,975 · end of year $29,876

  • 17 · Accounts payable and accrued expenses

    beginning of year $692,569 · end of year $352,058

  • 19 · Deferred revenue

    beginning of year $283,054 · end of year $431,882

  • 24 · Unsecured notes and loans payable

    beginning of year $13,125,773 · end of year $11,806,771

  • 25 · Other liabilities

    beginning of year $255,234 · end of year $255,072

  • 27 · Net assets without donor restrictions

    beginning of year $13,037,929 · end of year $12,945,655

  • 28 · Net assets with donor restrictions

    beginning of year $2,857,500 · end of year $4,464,916

Mission and programs · 2022

Mission

To be a catalyst for investment in Kansas City 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

  • Lending In 2022, 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.

    Expenses $2,995,247 · Grants $1,404,541 · Revenue $602,910

  • Small Business Development The Organization provides in-kind service/resources to an affiliate organization that invest in innovative and measurable community development that aligns with and strengthens the financial, human, and social capital of under-resourced neighborhoods in the Kansas City metropolitan region. In 2022, our affiliate organization deployed more than 3 million to neighborhood small businesses to assist with their recovery efforts after the economic impact of COVID-19. The Organizations continued to offer small businesses technical assistance directly as well as indirectly through partner entrepreneurship support organizations.

    Expenses $673,590 · Grants $171,926

  • New Market Tax Credits Since 2008, the Organization has participated in a federal tax credit program that is used to stimulate investment in economically distressed communities. The Organization cumulatively has deployed 213 million in New Market Tax Credits allocation which were used to finance job creating businesses and as a catalyst for real estate development projects in Kansas City metro area.

    Expenses $192,229 · Revenue $1,347,893

As filed on the 2022 return.

Listed in Part VII

  • David Desai-Ramirez

    MARKET PRESIDENT

    Total calculated
    $206,370
    From this org
    $194,587
    From related orgs
    $0
    Other
    $11,783
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $194,587
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,838
    Nontaxable benefits
    $6,396
    Filer's total
    $206,821

  • Ruben Alonso III

    PRESIDENT

    Total calculated
    $199,749
    From this org
    $187,928
    From related orgs
    $0
    Other
    $11,821
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $187,928
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,638
    Nontaxable benefits
    $6,184
    Filer's total
    $199,750

  • Anthony Williams

    MARKET PRESIDENT

    Total calculated
    $158,942
    From this org
    $148,103
    From related orgs
    $0
    Other
    $10,839
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $148,103
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,443
    Nontaxable benefits
    $6,396
    Filer's total
    $158,942

  • Carmen Lopez Murgia

    VP OF LENDING AND CLIENT SERVICES

    Total calculated
    $118,263
    From this org
    $108,609
    From related orgs
    $0
    Other
    $9,654
    Hours/week
    40

  • Megan Crook

    DIR. OF ADVANCEMENT AND EXTERNAL AFFAIRS

    Total calculated
    $103,320
    From this org
    $94,101
    From related orgs
    $0
    Other
    $9,219
    Hours/week
    40

  • Richard Vohs

    VP OF FINANCE AND ACCOUNTING

    Total calculated
    $87,870
    From this org
    $81,725
    From related orgs
    $0
    Other
    $6,145
    Hours/week
    40 + 5 related

  • David Brain

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Robert Givens

    VICE CHAIR/TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Ed Honesty Jr

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Katie Kwo Gerson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Donald Hawkings

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Martha Salinas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Carrece Scott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Bianca Tillard-Gates

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

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 · Form 990 of other organizations
  • 3 · Compensation survey or study

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

  • AltCap California

    $1,369,474

    workiing capital

  • Equity 2 LLC

    $83,969

    working capital

  • Community Capital Fund

    $50,457

    working capital

  • Diversity Telehealth LLC

    $25,000

    working capital

  • Sweet Peaches Cobblers LLC

    $10,000

    working capital

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323199349301962

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