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Nonprofiteer
← ICA FUND

Form 990 for tax year 2024

Filed by ICA FUND.

Totals

Total revenue
$7,717,480
Total expenses
$6,947,208
Contributions and grants received
$7,228,646
Grants paid
$0
Program service revenue
$474,418
Investment income
$2
Other revenue
$14,414
Total assets, end of year
$23,929,138
Total liabilities, end of year
$12,434,317
Net assets or fund balances, end of year
$11,494,821
Program services expenses (Part IX)
$5,717,895
Management and general expenses
$358,856
Fundraising expenses
$870,457
Program service expenses (Part III)
$5,717,895

Program services were 82.3% 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)

    $197,059

  • 1f · All other contributions, gifts and grants

    $7,031,587

  • 2a · Program service revenue: PROGRAM RELATED INVEST

    total $474,418 · related or exempt $474,418

  • 7a · Gross sales of assets other than inventory

    securities $2

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

    securities $0

  • 7c · Gain or loss

    securities $2

  • 7d · Net gain or loss

    total $2 · excluded $2

  • 11a · Other revenue: OTHER INCOME

    total $14,414 · related or exempt $14,414

  • 11e · Other revenue, total

    $14,414

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,094,299 · program services $1,581,429 · management and general $119,923 · fundraising $392,947

  • 7 · Other salaries and wages

    total $1,133,383 · program services $850,037 · management and general $56,669 · fundraising $226,677

  • 8 · Pension plan contributions

    total $195,047 · program services $147,175 · management and general $12,420 · fundraising $35,452

  • 9 · Other employee benefits

    total $262,817 · program services $204,249 · management and general $23,280 · fundraising $35,288

  • 10 · Payroll taxes

    total $217,658 · program services $165,420 · management and general $17,413 · fundraising $34,825

  • 11b · Fees: legal

    total $48,838 · program services $43,954 · management and general $4,884

  • 11c · Fees: accounting

    total $72,367 · program services $7,237 · management and general $57,893 · fundraising $7,237

  • 11g · Fees: other

    total $210,972 · program services $189,875 · management and general $21,097

  • 12 · Advertising and promotion

    total $166,445 · program services $116,350 · management and general $323 · fundraising $49,772

  • 13 · Office expenses

    total $127,067 · program services $120,829 · management and general $2,478 · fundraising $3,760

  • 14 · Information technology

    total $79,254 · program services $59,613 · management and general $7,091 · fundraising $12,550

  • 16 · Occupancy

    total $138,481 · program services $105,246 · management and general $11,078 · fundraising $22,157

  • 17 · Travel

    total $62,066 · program services $43,446 · fundraising $18,620

  • 19 · Conferences, conventions and meetings

    total $34,949 · program services $24,464 · fundraising $10,485

  • 20 · Interest

    total $1,167,359 · program services $1,167,359

  • 22 · Depreciation, depletion and amortization

    total $22,135 · management and general $22,135

  • 23 · Insurance

    total $14,935 · program services $11,350 · management and general $1,195 · fundraising $2,390

  • 24a · Other expenses: SEED CAPITAL RESERVE

    total $762,500 · program services $762,500

  • 24b · Other expenses: LOAN LOSS RESERVE

    total $69,934 · program services $69,934

  • 24c · Other expenses: EVENT COSTS

    total $54,461 · program services $38,123 · fundraising $16,338

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $12,241 · program services $9,305 · management and general $977 · fundraising $1,959

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,021,593 · end of year $1,055,259

  • 2 · Savings and temporary cash investments

    beginning of year $6,143,911 · end of year $10,349,604

  • 3 · Pledges and grants receivable

    beginning of year $775,533 · end of year $1,450,600

  • 4 · Accounts receivable

    beginning of year $0 · end of year $5,779

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $17,369

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $12,608,972 · end of year $10,810,500

  • 14 · Intangible assets

    beginning of year $110,676 · end of year $83,027

  • 15 · Other assets

    beginning of year $163,349 · end of year $157,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $379,209 · end of year $543,663

  • 19 · Deferred revenue

    beginning of year $1,066,000 · end of year $490,654

  • 24 · Unsecured notes and loans payable

    beginning of year $7,800,000 · end of year $11,400,000

  • 27 · Net assets without donor restrictions

    beginning of year $11,066,178 · end of year $9,171,325

  • 28 · Net assets with donor restrictions

    beginning of year $2,512,647 · end of year $2,323,496

Mission and programs · 2024

Mission

ICA FUND ACCELERATES GREAT BUSINESSES THROUGH MENTORING AND INVESTMENTS TO CATALYZE VALUE IN LOCAL MARKETS AND CREATE COMMUNITY WEALTH.

Activities or mission (Part I)

PROVIDE COACHING, CONNECTIONS, AND CAPITAL TO GROW SAN FRANCISCO BAY AREA BUSINESSES.

  • 109 ENTREPRENEURS SERVED THROUGH EDUCATION OFFERINGS.

    Expenses $3,286,429

  • 3 NEW WORKING CAPITAL LOANS, 1 NEW CONVERTIBLE NOTE, 2 NEW EQUITY INVESTMENTS, 3 NEW SAFE NOTES, 7 NEW IMPACT NOTES DEPLOYED TO SMALL BUSINESSES.

    Expenses $2,431,466

  • 642 HOURS OF ADVISING HOURS PROVIDED TO SMALL BUSINESSES.

    Revenue $488,832

As filed on the 2024 return.

Listed in Part VII

  • JACK RUSSI

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • JIM HARRIS

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • JIM KING

    DC CHAIR, CORPORATE SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • JUSTINA LAI

    INVESTMENT COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • DENNIS GREEN

    AUDIT COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • WILBUR HOBBS

    TREASURER, FINANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • AL DE ALMEIDA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DON REINKE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • NICOLE AUYANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MONA MASRI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CONCHITA TUCKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JAMES HEAD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CLAYTON BRYAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • ALLISON KELLY

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $357,903
    From this org
    $316,945
    From related orgs
    $0
    Other
    $40,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,445
    Bonus
    $40,500
    Other
    $0
    Deferred
    $10,215
    Nontaxable benefits
    $30,743
    Filer's total
    $357,903

  • DENNISE ESTRADA

    VP OF FINANCE & ADMIN

    Total calculated
    $252,566
    From this org
    $231,000
    From related orgs
    $0
    Other
    $21,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,000
    Bonus
    $21,000
    Other
    $0
    Deferred
    $6,930
    Nontaxable benefits
    $14,636
    Filer's total
    $252,566

  • JOHN GOUGH

    CHIEF INVESTMENT OFFICER

    Total calculated
    $270,734
    From this org
    $230,778
    From related orgs
    $0
    Other
    $39,956
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,078
    Bonus
    $29,700
    Other
    $0
    Deferred
    $5,775
    Nontaxable benefits
    $34,181
    Filer's total
    $270,734

  • DIANNA TREMBLAY

    CHIEF PROGRAM OFFICER

    Total calculated
    $254,929
    From this org
    $229,883
    From related orgs
    $0
    Other
    $25,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,358
    Bonus
    $29,525
    Other
    $0
    Deferred
    $7,336
    Nontaxable benefits
    $17,710
    Filer's total
    $254,929

  • CARON GUGSSA-HOWARD

    DIRECTOR OF PORTFOLIO SERVICES

    Total calculated
    $164,897
    From this org
    $144,452
    From related orgs
    $0
    Other
    $20,445
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,452
    Bonus
    $14,000
    Other
    $0
    Deferred
    $4,620
    Nontaxable benefits
    $15,825
    Filer's total
    $164,897

  • VIOLA MAI

    DIR OF DEVELOPMENT AND IMPACT

    Total calculated
    $151,053
    From this org
    $138,700
    From related orgs
    $0
    Other
    $12,353
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,700
    Bonus
    $14,000
    Other
    $0
    Deferred
    $4,170
    Nontaxable benefits
    $8,183
    Filer's total
    $151,053

  • ERICA DIXON

    DIR OF MARKETING AND COMMUNICATIONS

    Total calculated
    $150,643
    From this org
    $137,713
    From related orgs
    $0
    Other
    $12,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,166
    Bonus
    $12,547
    Other
    $0
    Deferred
    $4,140
    Nontaxable benefits
    $8,790
    Filer's total
    $150,643

  • CYNTHIA BILLOPS

    DIRECTOR OF DIRECT SERVICES

    Total calculated
    $155,829
    From this org
    $136,528
    From related orgs
    $0
    Other
    $19,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,000
    Bonus
    $16,528
    Other
    $0
    Deferred
    $4,096
    Nontaxable benefits
    $15,205
    Filer's total
    $155,829

  • HECTOR RAMOS

    DIRECTOR OF INVESTMENTS

    Total calculated
    $145,147
    From this org
    $132,000
    From related orgs
    $0
    Other
    $13,147
    Hours/week
    40

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 · 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202533219349305908

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