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Nonprofiteer
← RISING TIDE COMMUNITY LOAN FUND

Form 990 for tax year 2024

Filed by RISING TIDE COMMUNITY LOAN FUND.

Totals

Total revenue
$531,752
Total expenses
$629,968
Contributions and grants received
$164,333
Grants paid
$6,678
Program service revenue
$283,173
Investment income
$84,246
Other revenue
$0
Total assets, end of year
$5,974,641
Total liabilities, end of year
$3,952,579
Net assets or fund balances, end of year
$2,022,062
Program services expenses (Part IX)
$524,748
Management and general expenses
$63,164
Fundraising expenses
$42,056
Program service expenses (Part III)
$524,748

Program services were 83.3% 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)

    $81,134

  • 1f · All other contributions, gifts and grants

    $83,199

  • 2a · Program service revenue: PROGRAM LOAN INTEREST

    total $254,340 · related or exempt $254,340

  • 2b · Program service revenue: PROGRAM FEES

    total $28,833 · related or exempt $28,833

  • 3 · Investment income

    total $84,246 · excluded $84,246

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,678 · program services $6,678

  • 7 · Other salaries and wages

    total $181,144 · program services $181,144

  • 8 · Pension plan contributions

    total $7,107 · program services $7,107

  • 9 · Other employee benefits

    total $56,704 · program services $56,704

  • 10 · Payroll taxes

    total $13,031 · program services $13,031

  • 11a · Fees: management

    total $168,226 · program services $84,114 · management and general $42,056 · fundraising $42,056

  • 11b · Fees: legal

    total $14,504 · program services $14,504

  • 11c · Fees: accounting

    total $21,108 · management and general $21,108

  • 11g · Fees: other

    total $1,780 · program services $1,780

  • 12 · Advertising and promotion

    total $417 · program services $417

  • 13 · Office expenses

    total $2,297 · program services $2,297

  • 14 · Information technology

    total $1,962 · program services $1,962

  • 17 · Travel

    total $308 · program services $308

  • 19 · Conferences, conventions and meetings

    total $57 · program services $57

  • 20 · Interest

    total $37,184 · program services $37,184

  • 22 · Depreciation, depletion and amortization

    total $3,828 · program services $3,828

  • 23 · Insurance

    total $9,106 · program services $9,106

  • 24a · Other expenses: CREDIT LOSS EXPENSE

    total $83,332 · program services $83,332

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $13,630 · program services $13,630

  • 24c · Other expenses: MISCELLANEOUS

    total $7,565 · program services $7,565

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,162,027 · end of year $1,114,494

  • 2 · Savings and temporary cash investments

    beginning of year $2,466,298 · end of year $1,826,996

  • 3 · Pledges and grants receivable

    beginning of year $587

  • 7 · Other notes and loans receivable

    beginning of year $2,486,416 · end of year $2,707,665

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

    $34,264

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

    $33,184

  • 10c · Land, buildings and equipment, net

    beginning of year $4,908 · end of year $1,080

  • 15 · Other assets

    beginning of year $102,019 · end of year $324,406

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,254 · end of year $16,504

  • 19 · Deferred revenue

    beginning of year $299,801 · end of year $268,668

  • 24 · Unsecured notes and loans payable

    beginning of year $3,740,736 · end of year $3,644,985

  • 25 · Other liabilities

    beginning of year $41,186 · end of year $22,422

  • 27 · Net assets without donor restrictions

    beginning of year $1,760,034 · end of year $1,661,818

  • 28 · Net assets with donor restrictions

    beginning of year $360,244 · end of year $360,244

Mission and programs · 2024

Mission

THE ORGANIZATION PROVIDES LOANS TO SMALL OR START-UP BUSINESS VENTURES, THAT MAY NOT QUALIFY TO BANK STANDARDS THEREBY IMPROVING ECONOMICALLY DEPRESSED COMMUNITIES.

  • THE ORGANIZATION PROVIDES LOANS TO SMALL OR START-UP BUSINESS VENTURES, THAT MAY NOT QUALIFY TO BANK STANDARDS, TO IMPROVE THE SOCIAL WELFARE OF ECONOMICALLY DEPRESSED OR BLIGHTED NEIGHBORHOODS OF THE COMMUNITY.MADE LOANS TO 16 DIFFERENT BUSINESS, OF THESE 12 WERE TO BUSIENSSES OWNED BY LOW-TO-MODERATE INCOME INDIVIDUALS AND/OR LOCATED IN LOW-TO-MODERATE INCOME CENSUS TRACTS, 8 WERE MADE TO WOMAN-OWNED BUSINESSES AND 6 WERE MADE TO MINORITY-OWNED BUSINESSES. BUSINESSES THAT RECEIVED LOANS IN 2024-2025 WERE 4 EATERIES, AN ARTIST, A BREWERY, A VENDING COMPANY, A COFFEE SHOPT, A CHILDCARE CENTER, A FILM MAKER, A SHIPPING COMPANY, AN ART STUDIO, A PLANT SHOP, A PERFUME STORE, AND A TRANSPORTATION COMPANY. THE 16 FUNDED BUSINESSES REPORTED THE CREATION OR RETENTION OF 99 JOBS.

    Expenses $524,748 · Grants $6,678 · Revenue $283,173

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sally Handlon

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Todd Watkins

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • David Hammer

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Ortiz

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Colleen Krcelich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Daniel Diaz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • David Kormanik

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Josh Lampe

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kim Edwards

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lauren Tarola

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Marek Tomanek

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Otis McNeil

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Pas Simpson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Pat Corpora

    BOARD MEMBER (THRU 12-24)

    Total calculated
    $0
    Hours/week
    2

  • Russell Fletcher Jr

    BOARD MEMBER (THRU 11-24)

    Total calculated
    $0
    Hours/week
    2

  • Sean Ziller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Wayne Barz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Dawn Godshall

    EXECUTIVE DIRECTOR

    Total calculated
    $227,828
    From this org
    $0
    From related orgs
    $181,444
    Other
    $46,384
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,444 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,802 related
    Nontaxable benefits
    $0 + $33,582 related
    Filer's total
    $0 + $227,828 related

  • Chris Hudock

    ASSOCIATE EXECUTIVE DIRECT

    Total calculated
    $127,813
    From this org
    $0
    From related orgs
    $92,455
    Other
    $35,358
    Hours/week
    50

  • Katherine Duque

    COO EFF 5-2025

    Total calculated
    $106,315
    From this org
    $0
    From related orgs
    $72,682
    Other
    $33,633
    Hours/week
    1 + 39 related

  • Stephen Broome

    CFO THRU 9/24

    Total calculated
    $109,773
    From this org
    $0
    From related orgs
    $85,090
    Other
    $24,683
    Hours/week
    1 + 39 related

  • Jessica Reimert

    CFO EFF 3-2025

    Total calculated
    $148,192
    From this org
    $0
    From related orgs
    $109,783
    Other
    $38,409
    Hours/week
    1 + 39 related

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

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

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
2024
Filed
9 June 2026
IRS schema version
2024v5.5
Source object
202641609349300739

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