Form 990 for tax year 2022
Filed by ROCHDALE CAPITAL CORPORATION INC.
Totals
- Total revenue
- $1,537,775
- Total expenses
- $789,306
- Contributions and grants received
- $1,500,000
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $37,775
- Other revenue
- $0
- Total assets, end of year
- $5,820,631
- Total liabilities, end of year
- $72,107
- Net assets or fund balances, end of year
- $5,748,524
- Program services expenses (Part IX)
- $527,951
- Management and general expenses
- $170,590
- Fundraising expenses
- $90,765
- Program service expenses (Part III)
- $527,951
Program services were 66.9% 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
$1,500,000
-
3 · Investment income
total $37,775 · related or exempt $37,775
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $299,136 · program services $190,170 · management and general $54,483 · fundraising $54,483
-
7 · Other salaries and wages
total $47,875 · program services $19,150 · management and general $19,150 · fundraising $9,575
-
8 · Pension plan contributions
total $6,594 · program services $6,594
-
9 · Other employee benefits
total $5,197 · program services $5,197
-
10 · Payroll taxes
total $21,974 · program services $13,255 · management and general $4,663 · fundraising $4,056
-
11b · Fees: legal
total $39,456 · program services $12,525 · management and general $26,931
-
11c · Fees: accounting
total $37,715 · management and general $37,715
-
12 · Advertising and promotion
total $17,442 · program services $10,465 · management and general $3,663 · fundraising $3,314
-
13 · Office expenses
total $5,172 · program services $1,671 · management and general $2,990 · fundraising $511
-
14 · Information technology
total $22,727 · program services $13,709 · management and general $4,823 · fundraising $4,195
-
16 · Occupancy
total $10,800 · program services $6,480 · management and general $2,268 · fundraising $2,052
-
17 · Travel
total $14,947 · program services $8,968 · management and general $3,139 · fundraising $2,840
-
19 · Conferences, conventions and meetings
total $6,181 · program services $3,709 · management and general $1,298 · fundraising $1,174
-
22 · Depreciation, depletion and amortization
total $1,091 · program services $655 · management and general $229 · fundraising $207
-
23 · Insurance
total $17,167 · program services $10,300 · management and general $3,605 · fundraising $3,262
-
24a · Other expenses: LOAN LOSS
total $173,118 · program services $173,118
-
24b · Other expenses: CONTRIBUTIONS AND AWARD
total $35,000 · program services $35,000
-
24c · Other expenses: WEBSITE HOSTING & SOCIA
total $25,442 · program services $15,265 · management and general $5,343 · fundraising $4,834
-
24d · Other expenses: BANK FEES
total $1,380 · program services $828 · management and general $290 · fundraising $262
-
24e · All other expenses
total $892 · program services $892
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,000,055 · end of year $4,255,917
-
7 · Other notes and loans receivable
end of year $1,558,063
-
9 · Prepaid expenses and deferred charges
end of year $681
-
10a · Land, buildings and equipment: cost or other basis
$3,276
-
10b · Land, buildings and equipment: accumulated depreciation
$1,092
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $2,184
-
15 · Other assets
end of year $3,786
-
17 · Accounts payable and accrued expenses
end of year $3,454
-
19 · Deferred revenue
end of year $6,250
-
25 · Other liabilities
beginning of year $0 · end of year $62,403
-
27 · Net assets without donor restrictions
beginning of year $1,560,055 · end of year $1,561,000
-
28 · Net assets with donor restrictions
beginning of year $3,440,000 · end of year $4,187,524
Mission and programs · 2022
Mission
ROCHDALE CAPITAL IS A COMMUNITY DEVELOPMENT LOAN FUND WHOSE MISSION IS TO PROMOTE COOPERATIVE AND COMMUNITY OWNERSHIP; ADVANCE EQUITY, DIVERSITY AND INCLUSION; AND PROVIDE CAPITAL ACCESS TO BIPOC UNDER RESOURCED COMMUNITIES. WE BELIEVE THAT OWNERSHIP IS THE FOUNDATION TO VIBRANT COMMUNITIES.
Activities or mission (Part I)
ADVANCE EQUITY, DIVERSITY, INCLUSION (EDI), AS WELL AS ASSET BUILDING IN UNDER-RESOURCED COMMUNITIES. BROADEN EQUITABLE ACCESS TO CAPITAL BY OFFERING FLEXIBLE, AFFORDBLE FINANCING NOT CURRENTLY AVAILABLE THROUGH STRATEGIC PARTNER NCB.
-
AS A NONPROFIT LOAN FUND, WE PROVIDE EQUITABLE ACCESS TO CAPITAL TO FUND COOPERATIVE ENTERPRISES, COMMUNITY FACILITIES, RENEWABLE ENERGY, COMMERCIAL SPACES, SMALL BUSINESSES AND AFFORDABLE HOUSING. THIS PROVIDES OWNERSHIP OPPORTUNITIES FOR ENTREPRENEURS, COOPERATIVES, COMMUNITY-BASED ORGANIZATIONS AND POTENTIAL HOMEOWNERS. OUR TARGET MARKET INCLUDES COMMUNITIES THAT ARE UNBANKED, UNDERBANKED AND UNDER RESOURCED; THOSE WHO HAVE BEEN TRADITIONALLY LEFT OUT OF INVESTMENT OPPORTUNITIES.
Expenses $527,869
-
Expenses $82
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
ANDREA LEVERE
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1.5
-
SHANNAN HERBERT
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1.2
-
VALERIA ROACH
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 1.2
-
OMAR VELASCO AS OF 412022
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
PAUL HAZEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DION SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
STACY PATRICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JOHN HOLDSCLAW IV
PRESIDENT & CEO
- Total calculated
- $183,028
- From this org
- $183,028
- From related orgs
- $0
- Other
- $0
- Hours/week
- 24
Schedule J breakdown matched by us
- Base
- $135,566
- Bonus
- $23,625
- Other
- $23,837
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $183,028
-
KLADE HARE
CHIEF LENDING OFFICER
- Total calculated
- $117,525
- From this org
- $117,525
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
CHANTAL HART
MANAGER- OPERATIONS & COMPLIANCE
- Total calculated
- $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
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 5 December 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333399349301133
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