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Nonprofiteer
← REDBUD FINANCIAL ALTERNATIVES INC

Form 990 for tax year 2023

Filed by REDBUD FINANCIAL ALTERNATIVES INC.

Totals

Total revenue
$210,767
Total expenses
$499,824
Contributions and grants received
$88,000
Grants paid
$0
Program service revenue
$114,666
Investment income
$0
Other revenue
$8,101
Total assets, end of year
$2,236,073
Total liabilities, end of year
$1,477,939
Net assets or fund balances, end of year
$758,134
Program services expenses (Part IX)
$433,734
Management and general expenses
$66,090
Fundraising expenses
$0
Program service expenses (Part III)
$433,734

Program services were 86.8% 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.

  • 1f · All other contributions, gifts and grants

    $88,000

  • 2a · Program service revenue: INTEREST ON LOANS

    total $114,666 · related or exempt $114,666

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $8,101 · related or exempt $8,101

  • 11e · Other revenue, total

    $8,101

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $197,031 · program services $147,773 · management and general $49,258

  • 11c · Fees: accounting

    total $5,600 · program services $4,200 · management and general $1,400

  • 12 · Advertising and promotion

    total $6,496 · program services $6,496

  • 13 · Office expenses

    total $1,966 · program services $1,966

  • 14 · Information technology

    total $15,920 · program services $15,920

  • 16 · Occupancy

    total $19,351 · program services $14,513 · management and general $4,838

  • 17 · Travel

    total $2,073 · program services $2,073

  • 19 · Conferences, conventions and meetings

    total $2,754 · management and general $2,754

  • 20 · Interest

    total $37,947 · program services $37,947

  • 22 · Depreciation, depletion and amortization

    total $745 · program services $745

  • 23 · Insurance

    total $5,487 · program services $4,115 · management and general $1,372

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $162,666 · program services $162,666

  • 24b · Other expenses: SUPPLIES

    total $25,874 · program services $19,406 · management and general $6,468

  • 24c · Other expenses: LOAN CLOSING FEES

    total $4,624 · program services $4,624

  • 24d · Other expenses: DUES & MEMBERSHIPS

    total $4,437 · program services $4,437

  • 24e · All other expenses

    total $6,853 · program services $6,853

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,479,933 · end of year $808,278

  • 7 · Other notes and loans receivable

    beginning of year $912,439 · end of year $1,413,747

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,941 · end of year $7,811

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

    $6,982

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

    $745

  • 10c · Land, buildings and equipment, net

    end of year $6,237

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,423 · end of year $1,819

  • 19 · Deferred revenue

    beginning of year $200 · end of year $200

  • 23 · Secured mortgages and notes payable

    beginning of year $1,334,437 · end of year $1,456,956

  • 25 · Other liabilities

    beginning of year $62 · end of year $18,964

  • 27 · Net assets without donor restrictions

    beginning of year $795,431 · end of year $505,907

  • 28 · Net assets with donor restrictions

    beginning of year $251,760 · end of year $252,227

Mission and programs · 2023

Mission

PROVIDE EQUITABLE MORTGAGE AND CONSUMER FINANCIAL PRODUCTS HELPING CLIENTS ACHIEVE HOUSING AND OVERALL FINANCIAL STABILITY

Activities or mission (Part I)

TO PROVIDE FAIR AND EQUITABLE LOANS ALONGSIDE FINANCIAL EDUCATION AND COACHING TO EMPOWER PEOPLE TO ACHIEVE THEIR FINANCIAL GOALS

  • PROVIDE EQUITABLE MORTGAGE AND CONSUMER FINANCIAL PRODUCTS HELPING CLIENTS

    Expenses $433,734

As filed on the 2023 return.

Listed in Part VII

  • BETSY CLEMONS

    BOARD MEMBER

    Total calculated
    $0

  • KRISTIN COLLINS

    BOARD MEMBER

    Total calculated
    $0

  • ZACH LAWRENCE

    BOARD MEMBER

    Total calculated
    $0

  • RUSSELL OLIVER

    BOARD MEMBER

    Total calculated
    $0

  • PAULA PARKER

    BOARD MEMBER

    Total calculated
    $0

  • PAUL PATULA

    BOARD MEMBER

    Total calculated
    $0

  • JILL ROBERTSON

    BOARD MEMBER

    Total calculated
    $0

  • LES ROLL

    BOARD MEMBER

    Total calculated
    $0

  • ANNIE WILLIAMS

    BOARD MEMBER

    Total calculated
    $0

  • AMIE BEDWELL

    CFO

    Total calculated
    $0

  • R SCOTT MCREYNOLDS

    DIRECTOR

    Total calculated
    $0

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.

Grants on this return

No itemized grants to organizations 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
2023
Filed
7 March 2025
IRS schema version
2023v6.0
Source object
202500669349300505

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