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Nonprofiteer
← WORKING CAPITAL FOR COMMUNITY NEEDS INC

Form 990 for tax year 2023

Filed by WORKING CAPITAL FOR COMMUNITY NEEDS INC.

Totals

Total revenue
$1,875,363
Total expenses
$2,139,073
Contributions and grants received
$554,686
Grants paid
$0
Program service revenue
$1,286,633
Investment income
$33,611
Other revenue
$433
Total assets, end of year
$14,991,917
Total liabilities, end of year
$13,622,314
Net assets or fund balances, end of year
$1,369,603
Program services expenses (Part IX)
$1,795,403
Management and general expenses
$292,790
Fundraising expenses
$50,880
Program service expenses (Part III)
$1,795,403

Program services were 83.9% 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

    $554,686

  • 2a · Program service revenue: PROGRAM LOAN INTEREST

    total $1,232,300 · related or exempt $1,232,300

  • 2b · Program service revenue: LOAN ORIGINATION FEES

    total $54,333 · related or exempt $54,333

  • 3 · Investment income

    total $33,611 · excluded $33,611

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $433 · excluded $433

  • 11e · Other revenue, total

    $433

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $154,169 · program services $71,132 · management and general $49,999 · fundraising $33,038

  • 7 · Other salaries and wages

    total $192,797 · program services $81,112 · management and general $106,690 · fundraising $4,995

  • 8 · Pension plan contributions

    total $5,684 · management and general $5,684

  • 9 · Other employee benefits

    total $18,987 · program services $2,502 · management and general $16,300 · fundraising $185

  • 10 · Payroll taxes

    total $25,427 · program services $13,851 · management and general $10,345 · fundraising $1,231

  • 11b · Fees: legal

    total $42,381 · program services $41,611 · management and general $770

  • 11c · Fees: accounting

    total $47,020 · management and general $47,020

  • 11g · Fees: other

    total $186,178 · program services $175,062 · management and general $11,105 · fundraising $11

  • 12 · Advertising and promotion

    total $8,070 · program services $5,350 · fundraising $2,720

  • 13 · Office expenses

    total $23,019 · program services $12,938 · management and general $7,654 · fundraising $2,427

  • 14 · Information technology

    total $4,111 · program services $2,222 · management and general $897 · fundraising $992

  • 16 · Occupancy

    total $24,679 · program services $10,365 · management and general $12,340 · fundraising $1,974

  • 17 · Travel

    total $23,870 · program services $21,221 · fundraising $2,649

  • 19 · Conferences, conventions and meetings

    total $952 · program services $786 · management and general $166

  • 20 · Interest

    total $372,461 · program services $372,461

  • 23 · Insurance

    total $15,571 · program services $4,343 · management and general $11,056 · fundraising $172

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $977,396 · program services $977,396

  • 24b · Other expenses: BANK AND INVESTMENT FEE

    total $10,814 · program services $509 · management and general $10,110 · fundraising $195

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $5,487 · program services $2,542 · management and general $2,654 · fundraising $291

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $187,211 · end of year $164,700

  • 2 · Savings and temporary cash investments

    beginning of year $683,030 · end of year $1,188,381

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,644 · end of year $15,971

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

    $167,426

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

    $10,814

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $156,612

  • 13 · Investments: program-related

    beginning of year $13,599,744 · end of year $13,247,323

  • 15 · Other assets

    beginning of year $276,095 · end of year $218,930

  • 17 · Accounts payable and accrued expenses

    beginning of year $151,332 · end of year $155,531

  • 22 · Loans and payables to officers and key people

    beginning of year $224,391 · end of year $30,460

  • 24 · Unsecured notes and loans payable

    beginning of year $12,944,267 · end of year $13,403,073

  • 25 · Other liabilities

    beginning of year $55,295 · end of year $33,250

  • 27 · Net assets without donor restrictions

    beginning of year $1,374,439 · end of year $1,359,603

  • 28 · Net assets with donor restrictions

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

Mission and programs · 2023

Mission

WORKING CAPITAL FOR COMMUNITY NEEDS (WCCN) IS A NONPROFIT IMPACT INVESTING FUND WHOSE MISSION IS TO CREATE OPPORTUNITIES FOR ACCESS TO MICROFINANCE, SERVICES, AND MARKETS TO IMPROVE THE LIVES AND COMMUNITIES OF THE WORKING POOR IN LATIN AMERICA. THE WCCN MISSION RESTS ON THE IDEA THAT HAVING ACCESS TO OPPORTUNITY EXTENDED FROM A SUPPORTIVE PARTNER IN ONE'S COMMUNITY IS A KEY FACTOR IN DETERMINING WHETHER OR NOT SOMEONE MOVES OUT OF POVERTY.

Activities or mission (Part I)

WORKING CAPITAL FOR COMMUNITY NEEDS PARTNERS WITH INDIVIDUALS AND ORGANIZATIONS IN LATIN AMERICA AND THE UNITED STATES TO BUILD SUSTAINABLE ECONOMIC OPPORTUNITIES THAT HELP PEOPLE WORK THEIR WAY OUT OF POVERTY.

  • WCCN IS A NONPROFIT ORGANIZATION THAT EMPOWERS LOW-INCOME LATIN AMERICAN ENTREPRENEURS AND SMALL-SCALE FARMERS THROUGH MICROCREDIT, FAIR TRADE, AND WOMEN'S EMPOWERMENT INITIATIVES. SINCE OUR 1984 FOUNDING, WE CONTINUE TO IMPLEMENT SUSTAINABLE ECONOMIC AND SOCIAL ADVANCEMENT PROGRAMS THROUGH PARTNERSHIPS WITH MICROFINANCE INSTITUTIONS, DEVELOPMENT ORGANIZATIONS, AND COOPERATIVES IN ECUADOR, EL SALVADOR, HONDURAS, GUATEMALA, NICARAGUA, COLOMBIA, MEXICO, AND PERU.

    Expenses $1,770,452 · Revenue $1,286,633

  • WCCN ALSO FOSTERS GREATER UNDERSTANDING, GOODWILL, AND PEACE THROUGH PEOPLE-TO-PEOPLE EXCHANGES AND OUR EDUCATIONAL ACTIVITIES. OUR EDUCATIONAL ACTIVITIES INCLUDE U.S./LATIN AMERICAN SPEAKER EXCHANGES, STUDY TOURS TO LATIN AMERICA, AND A QUARTERLY NEWSLETTER.

    Expenses $24,951

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

Listed in Part VII

  • Will Harris

    EXECUTIVE DIRECTOR

    Total calculated
    $154,169
    From this org
    $135,656
    From related orgs
    $0
    Other
    $18,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,656
    Bonus
    $0
    Other
    $0
    Deferred
    $4,170
    Nontaxable benefits
    $14,343
    Filer's total
    $154,169

  • Megan Vander Wyst

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Leilani Yats

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Juan Gomez

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Daniel Guerra Jr

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Anna Kaminski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Antoinette Kenmuir-Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Diggs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Frank Staniszewski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Grecia De La O Abarca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jordan Van Rijn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ligia Vado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Martin Nielsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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 committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COMMUNITY NEEDS LLC

    PROMOTE ECONOMIC DEVELOPMENT IN THE GREATER LATIN AMERICAN REGION · WI · income -$1,195 · assets $1,397

    Directly controlled by WORKING CAPITAL FOR COMMUNITY NEEDS INC

Provenance

Return type
form_990
Tax year
2023
Filed
9 October 2024
IRS schema version
2023v5.1
Source object
202442849349300204

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