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Nonprofiteer
← TRANSFORM CAPITAL

Form 990 for tax year 2023

Filed by TRANSFORM CAPITAL.

Totals

Total revenue
$409,135
Total expenses
$29,541
Contributions and grants received
$348,309
Grants paid
$0
Program service revenue
$58,548
Investment income
$1,911
Other revenue
$367
Total assets, end of year
$1,566,857
Total liabilities, end of year
$495,887
Net assets or fund balances, end of year
$1,070,970
Program services expenses (Part IX)
$18,716
Management and general expenses
$10,061
Fundraising expenses
$764
Program service expenses (Part III)
$18,716

Program services were 63.4% 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

    $348,309

  • 2a · Program service revenue: ADVISORY FEES

    total $30,000 · related or exempt $30,000

  • 2b · Program service revenue: LOAN INTEREST AND FEE

    total $28,548 · related or exempt $28,548

  • 3 · Investment income

    total $1,911 · related or exempt $1,911

  • 11a · Other revenue: MISCELLANEOUS

    total $367 · related or exempt $367

  • 11e · Other revenue, total

    $367

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $3,413 · management and general $3,413

  • 11g · Fees: other

    total $4,550 · program services $4,000 · management and general $550

  • 22 · Depreciation, depletion and amortization

    total $1,142 · management and general $1,142

  • 23 · Insurance

    total $1,400 · management and general $1,400

  • 24a · Other expenses: SCHOLARSHIPS

    total $10,000 · program services $10,000

  • 24b · Other expenses: GENERAL AND PROGRAM FEE

    total $4,760 · program services $1,287 · management and general $3,473

  • 24c · Other expenses: LOAN SERVICING FEES

    total $2,022 · program services $2,022

  • 24d · Other expenses: DONOR PAYMENTS' PROCESS

    total $764 · fundraising $764

  • 24e · All other expenses

    total $1,490 · program services $1,407 · management and general $83

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $41,580

  • 2 · Savings and temporary cash investments

    beginning of year $263,099 · end of year $524,223

  • 3 · Pledges and grants receivable

    beginning of year $3,306 · end of year $2,645

  • 4 · Accounts receivable

    beginning of year $5,602 · end of year $2,992

  • 7 · Other notes and loans receivable

    beginning of year $656,205 · end of year $994,197

  • 9 · Prepaid expenses and deferred charges

    beginning of year $631 · end of year $650

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

    $3,425

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

    $2,855

  • 10c · Land, buildings and equipment, net

    beginning of year $1,712 · end of year $570

  • 17 · Accounts payable and accrued expenses

    beginning of year $76

  • 23 · Secured mortgages and notes payable

    beginning of year $225,000 · end of year $475,000

  • 25 · Other liabilities

    beginning of year $14,103 · end of year $20,887

  • 27 · Net assets without donor restrictions

    beginning of year $691,376 · end of year $1,070,970

Mission and programs · 2023

Mission

TRANSFORM CAPITAL IS A LENDING PLATFORM WHICH RAISES TAX-DEDUCTABLE FUNDING AND PLACES THAT FUNDING INTO MARKET-RATE OR BELOW MARKET-RATE MORTGAGE AND BUSINESS LOANS FOR DESERVING FAMILIES IN DIS-INVESTED LOCAL COMMUNITIES.

Activities or mission (Part I)

TRANSFORM CAPITAL IS A LENDING PLATFORM WHICH RAISES TAX-DEDUCTIBLE FUNDING AND PLACES THAT FUNDING INTO MARKET-RATE OR BELOW MARKET-RATE MORTGAGE AND BUSINESS LOANS FOR DESERVING FAMILIES IN DIS-INVESTED LOCAL COMMUNITIES.

  • CAPITAL / TRANSFORM CAPITAL RAISES A TAX-DEDUCTABLE FUNDING BASE AND DEPLOYS THIS FUNDING INTO MARKET-RATE OR BELOW MARKET-RATE MORTGAGE AND BUSINESS LOANS FOR DESERVING FAMILIES IN DIS-INVESTED LOCAL ILLINOIS COMMUNITIES. 100% OF OUR CLIENTS ARE SOURCED ON REFERRAL FROM EXISTING ORGANIZATIONS ALREADY LONG SERVING THE COMMUNITY. OUR INITIAL COMMUNITY FOCUS IS NORTH CHICAGO, ILLINOIS. WE LIMIT OPERATING COSTS AT EVERY TURN, SO THAT WE CAN RECYCLE CAPITAL FOR ANOTHER CLIENT. AS OUR CLIENTS PAY BACK LOANS, THEY BECOME ON INTEGRAL PART OF "PAYING IT FORWARD" TO MAKE OWNERSHIP POSSIBLE FOR ANOTHER NEIGHBOR. WE ARE ENGAGING IN CONVERSATION WITH OTHER COMMUNITIES ACROSS THE NATION TO EXTEND THE REACH OF OUR MISSION APPROACH.

    Expenses $18,716 · Revenue $60,826

  • CATALYST / IN ADDITION TO CAPITAL, WE PROVIDE CATALYST FOR THE ENTIRE JOURNEY OF ASSET OWNERSHIP-SEEKING TO IGNITE GENERATIONAL ADVANTAGE FOR DESERVING FAMILIES. LENDING IS SIMPLY A REASON TO BE IN RELATIONSHIP, AND WE JOURNEY WITH CLIENTS FOR DECADES - WELL BEYOND ANY LOAN "TRANSACTION". WE ACTIVATE THE TALENTS OF OUR GROWING MOVEMENT TO ENCOURAGE THE DREAMS OF OUR CLIENT FAMILIES. THIS ENCOURAGEMENT CAN TAKE MANY FORMS, INCLUDING HELPING TO OPEN (OR EXPAND) A SMALL BUSINESS, OR REFERRING CLIENTS TO OTHER ORGANIZATIONS OR INDIVIDUALS FOR RESOURCE, COUNSELING, OR COACHING. WE DO NOT BUILD NEW PROGRAMS, BUT RATHER LEVERAGE A VAST NETWORK OF INDIVIDUALS AND OTHER ORGANIZATIONS TO WALK ALONGSIDE OUR CLIENTS. WE ALSO FREQUENTLY ENGAGE WITH OTHER PARTNERS IN EVALUATING BROADER ECONOMIC DEVELOPMENT AND OTHER PROJECTS WHICH CAN ENHANCE THE QUALITY OF LIFE IN OUR LOCAL COMMUNITIES.

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

Listed in Part VII

  • MARK CHASSMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • FREDERICK TOLBERT

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • STEPHEN KAWASAKI

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • ANDREA MCCRORY

    DIRECTOR

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • PAUL HAWKINSON

    TREASURER AND EXECUTIVE DI

    Total calculated
    $0
    Hours/week
    5

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.

Provenance

Return type
form_990
Tax year
2023
Filed
22 July 2024
IRS schema version
2023v5.1
Source object
202402049349301315

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