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Nonprofiteer
← CAPITALPLUS EXCHANGE CORPORATION

Form 990 for tax year 2024

Filed by CAPITALPLUS EXCHANGE CORPORATION.

Totals

Total revenue
$1,915,652
Total expenses
$2,404,138
Contributions and grants received
$78,963
Grants paid
$0
Program service revenue
$1,827,794
Investment income
$8,895
Other revenue
$0
Total assets, end of year
$6,537,507
Total liabilities, end of year
$6,248,007
Net assets or fund balances, end of year
$289,500
Program services expenses (Part IX)
$1,910,209
Management and general expenses
$485,566
Fundraising expenses
$8,363
Program service expenses (Part III)
$1,910,209

Program services were 79.5% 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)

    $78,963

  • 2a · Program service revenue: FOUNDATION SUPPORT/OTH

    total $1,778,649 · related or exempt $1,778,649

  • 2b · Program service revenue: PROGRAM FEES

    total $49,145 · related or exempt $49,145

  • 3 · Investment income

    total $8,895 · excluded $8,895

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $684,837 · program services $471,828 · management and general $208,464 · fundraising $4,545

  • 7 · Other salaries and wages

    total $260,071 · program services $137,698 · management and general $120,149 · fundraising $2,224

  • 9 · Other employee benefits

    total $6,080 · program services $3,511 · management and general $2,512 · fundraising $57

  • 10 · Payroll taxes

    total $34,458 · program services $19,899 · management and general $14,238 · fundraising $321

  • 11b · Fees: legal

    total $17,290 · program services $13,895 · management and general $3,395

  • 11c · Fees: accounting

    total $45,595 · management and general $45,595

  • 11g · Fees: other

    total $1,042,282 · program services $1,004,622 · management and general $37,660

  • 13 · Office expenses

    total $24,873 · program services $16,178 · management and general $8,695

  • 14 · Information technology

    total $48,723 · program services $32,783 · management and general $15,713 · fundraising $227

  • 16 · Occupancy

    total $86,511 · program services $67,459 · management and general $18,628 · fundraising $424

  • 17 · Travel

    total $117,830 · program services $116,453 · management and general $1,018 · fundraising $359

  • 23 · Insurance

    total $32,938 · program services $23,721 · management and general $9,012 · fundraising $205

  • 24a · Other expenses: PROGRAM RELATED EXPENSE

    total $2,162 · program services $2,162

  • 24e · All other expenses

    total $488 · management and general $487 · fundraising $1

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $781,570 · end of year $845,134

  • 2 · Savings and temporary cash investments

    beginning of year $445,212 · end of year $5,299,697

  • 4 · Accounts receivable

    beginning of year $10,142 · end of year $1,822

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,789 · end of year $31,673

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

    $44,039

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

    $44,039

  • 10c · Land, buildings and equipment, net

    beginning of year $904 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $359,181

  • 17 · Accounts payable and accrued expenses

    beginning of year $130,826 · end of year $611,737

  • 19 · Deferred revenue

    beginning of year $387,014 · end of year $5,529,877

  • 25 · Other liabilities

    beginning of year $0 · end of year $106,393

  • 27 · Net assets without donor restrictions

    beginning of year $779,777 · end of year $289,500

Mission and programs · 2024

Mission

CAPITALPLUS EXCHANGE CORPORATION ("CAPPLUS OR "THE ORGANIZATION") IS REGISTERED AS A NONPROFIT CORPORATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE SERVICE CODE OF 1986, AS AMENDED. THE ORGANIZATION OPERATES EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, TO MAKE CAPACITY-BUILDING SERVICES AVAILABLE AT SUBSTANTIALLY BELOW COST TO FINANCIAL INSTITUTIONS IN DEVELOPING AND TRANSITIONAL MARKETS THAT SERVE SMALL BUSINESSES, MICRO-ENTERPRISES, AND UNDERSERVED COMMUNITIES, TO PROMOTE ECONOMIC DEVELOPMENT, POVERTY REDUCTION AND OTHERWISE BENEFIT LOW-INCOME PERSONS.

  • CAPACITY BUILDING: THIS PROGRAM BUILDS FINANCIAL INSTITUTIONS' INTERNAL CAPABILITY TO EXPAND SERVICES TO UNDERSERVED POPULATIONS. CAPPLUS USES A TRANSPARENT AND CLIENT-DRIVEN PROCESS, ENSURING THAT CLIENTS' CAPACITY BUILDING NEEDS ARE MET AND THE NEW PRACTICES, POLICIES, AND PRODUCTS ARE EMBEDDED WITHIN THE ORGANIZATION. TYPICAL AREAS OF CAPACITY BUILDING INCLUDE: LENDING PRODUCT AND METHODOLOGY MANAGEMENT, RISK MANAGEMENT, HUMAN RESOURCE MANAGEMENT, NEW PRODUCT DEVELOPMENT AND INNOVATION, PIONEERING NEW PARTNERSHIPS FOR SERVICES' DELIVERY, AND IMPROVED OPERATIONS AND ENHANCED EFFICIENCIES, AS WELL AS STRENGTHENING THE FINANCIAL CAPABILITIES OF THEIR CLIENTS. SOME CLIENT FINANCIAL INSTITUTIONS ARE REQUIRED TO PAY FOR A SMALL PORTION OF THE COST. AT THIS TIME, CAPACITY BUILDING SERVICES ARE FOCUSED ON HELPING FINANCIAL INSTITUTIONS ADJUST TO ALL THE CHANGES IN THEIR BUSINESSES AS A RESULT OF COVID 19, IN ADDITION TO OUR ONGOING EFFORTS TO EXPAND SMALL BUSINESSES' ACCESS TO CREDIT. DURING 2024, CAPPLUS PROVIDED ONE-TO-ONE CAPACITY BUILDING TO APPROXIMATELY 15 MICROFINANCE AND SMALL BUSINESS BANKS AND GROUP-BASED CAPACITY BUILDING TO 120 ADDITIONAL FINANCIAL INSTITUTIONS, PRIMARILY IN GHANA.

    Expenses $1,528,072 · Revenue $1,827,794

  • PARTNERSHIPS: CAPPLUS WORKS CLOSELY WITH ORGANIZATIONS THAT SHARE ITS MISSION TO SERVE SMALL BUSINESSES, MICRO-ENTERPRISES, UNDERSERVED COMMUNITIES AND BUSINESSES THAT PROVIDE A SOCIAL GOOD IN DEVELOPING AND TRANSITIONAL MARKETS. CAPPLUS' PARTNERS INCLUDE FOUNDATIONS, RESEARCH INSTITUTIONS, EDUCATION INITIATIVES, NGOS, AND INVESTMENT FUNDS AMONG OTHERS. THESE PARTNERSHIPS ALLOW CAPPLUS TO EXPLORE NEW FRONTIERS IN SME, SOCIAL FINANCE AND LEVERAGE JOINED CAPABILITIES TO ACHIEVE MORE POWERFUL IMPACT WHERE OUR MISSIONS INTERSECT.

    Expenses $382,137

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

Listed in Part VII

  • KARIM AHAMED

    CHAIRPERSON & DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • ERIC FRIEDENWALD-FISHMAN

    CHAIRPERSON & DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • CYRILLE ARNOULD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NICHOLAS BURNETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER HOFFMANN

    DIRECTOR (THRU 12/24)

    Total calculated
    $0
    Hours/week
    1

  • ISHMAEL MKHABELA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NTHENYA MULE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VIMBAI TSOPOTSA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LYNN PIKHOLZ

    PRESIDENT & CEO

    Total calculated
    $243,407
    From this org
    $222,949
    From related orgs
    $0
    Other
    $20,458
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,449
    Bonus
    $0
    Other
    $30,500
    Deferred
    $13,059
    Nontaxable benefits
    $7,399
    Filer's total
    $243,407

  • RULA DABABNEH

    TREASURER & COO

    Total calculated
    $243,833
    From this org
    $176,705
    From related orgs
    $0
    Other
    $67,128
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,205
    Bonus
    $0
    Other
    $30,500
    Deferred
    $10,827
    Nontaxable benefits
    $56,301
    Filer's total
    $243,833

  • LYNN RAILSBACK

    SECRETARY & VICE PRESIDENT

    Total calculated
    $133,322
    From this org
    $133,322
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • RICHARD OBUOBI

    PROGRAM DIRECTOR

    Total calculated
    $64,275
    From this org
    $64,275
    From related orgs
    $0
    Other
    $0
    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 · Independent compensation consultant
  • 3 · Written employment contract
  • 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 corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CAPPLUS IMPACT LLC

    C · FINANCE, RECEIVE AND DEPLOY DEBT FINANCING · DE · 100% owned · controlled entity

    Directly controlled by CAPITALPLUS EXCHANGE CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202503079349301430

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