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Nonprofiteer
← SPRINGBOARD CDFI

Form 990 for tax year 2023

Filed by SPRINGBOARD CDFI.

Totals

Total revenue
$225,180
Total expenses
$401,741
Contributions and grants received
$36,197
Grants paid
$0
Program service revenue
$188,827
Investment income
$2
Other revenue
$154
Total assets, end of year
$9,636,256
Total liabilities, end of year
$1,164,030
Net assets or fund balances, end of year
$8,472,226
Program services expenses (Part IX)
$76,240
Management and general expenses
$325,501
Fundraising expenses
$0
Program service expenses (Part III)
$76,240

Program services were 19.0% 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.

  • 1e · Government grants (contributions)

    $36,197

  • 2a · Program service revenue: LOAN INTEREST

    total $120,566 · related or exempt $120,566

  • 2b · Program service revenue: LOAN AND BROKER FEES

    total $50,022 · related or exempt $50,022

  • 2c · Program service revenue: CWCOT TRANSFER FEES

    total $18,239 · related or exempt $18,239

  • 3 · Investment income

    total $2 · excluded $2

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $154 · related or exempt $154

  • 11e · Other revenue, total

    $154

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $181,201 · program services $15,717 · management and general $165,484

  • 7 · Other salaries and wages

    total $39,296 · program services $29,405 · management and general $9,891

  • 9 · Other employee benefits

    total $18,376 · program services $9,164 · management and general $9,212

  • 10 · Payroll taxes

    total $14,213 · program services $3,027 · management and general $11,186

  • 11a · Fees: management

    total $53,846 · management and general $53,846

  • 11b · Fees: legal

    total $1,050 · management and general $1,050

  • 11c · Fees: accounting

    total $18,755 · management and general $18,755

  • 11g · Fees: other

    total $316 · program services $316

  • 13 · Office expenses

    total $803 · management and general $803

  • 14 · Information technology

    total $9,901 · management and general $9,901

  • 20 · Interest

    total $588 · program services $226 · management and general $362

  • 22 · Depreciation, depletion and amortization

    total $236 · management and general $236

  • 23 · Insurance

    total $31,744 · program services $7,150 · management and general $24,594

  • 24a · Other expenses: TAXES AND LICENSES

    total $10,395 · program services $7,470 · management and general $2,925

  • 24b · Other expenses: TELEPHONE AND INTERNET

    total $5,239 · management and general $5,239

  • 24c · Other expenses: OTHER EXPENSES

    total $4,335 · program services $509 · management and general $3,826

  • 24d · Other expenses: CLEANING AND MAINTENANC

    total $3,525 · management and general $3,525

  • 24e · All other expenses

    total $7,922 · program services $3,256 · management and general $4,666

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,525,650 · end of year $3,406,280

  • 4 · Accounts receivable

    beginning of year $10,410 · end of year $5,000

  • 7 · Other notes and loans receivable

    beginning of year $5,786,778 · end of year $5,501,725

  • 8 · Inventories for sale or use

    end of year $701,548

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,665 · end of year $21,703

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

    $2,003

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

    $2,003

  • 10c · Land, buildings and equipment, net

    beginning of year $236 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $82,126 · end of year $50,298

  • 25 · Other liabilities

    beginning of year $618,826 · end of year $1,113,732

  • 27 · Net assets without donor restrictions

    beginning of year -$166,065 · end of year -$298,452

  • 28 · Net assets with donor restrictions

    beginning of year $8,814,852 · end of year $8,770,678

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

BRIDGING THE WEALTH GAP IN AMERICA BY PROVIDING SCALED SOLUTIONS AND ACCESS TO CAPITAL; WITH A FOCUS ON FIRST-TIME HOMEBUYERS, PEOPLE OF COLOR, AND RURAL COMMUNITIES.

  • SEE SCHEDULE O

    Expenses $76,240 · Revenue $188,981

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

Listed in Part VII

  • Curtis Paradzick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Todd Emerson

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Denis Gitschier

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Steven Clark

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Angelique Capalbo

    PRESIDENT

    Total calculated
    $181,201
    From this org
    $164,475
    From related orgs
    $0
    Other
    $16,726
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,475
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,726
    Filer's total
    $181,201

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

No itemized grants to organizations 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.

Related partnerships

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

  • SPRINGBOARD CDFI 2023-1 LP

    REAL ESTATE · NY · 0.1% owned · general or managing partner

  • SPRINGBOARD CDFI 2023-2 LP

    REAL ESTATE · CA · 0.1% owned · general or managing partner

  • SPRINGBOARD CDFI 2023-3 LP

    REAL ESTATE · CA · 0.1% owned · general or managing partner

  • SPRINGBOARD CDFI 2023-4 LP

    REAL ESTATE · CA · 0.1% owned · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202413199349315571

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