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← COMMUNITY INITATIVES INC

Form 990 for tax year 2024

Filed by COMMUNITY INITATIVES INC.

Totals

Total revenue
$4,836,979
Total expenses
$4,701,138
Contributions and grants received
$4,015,857
Grants paid
$0
Program service revenue
$821,122
Investment income
$0
Other revenue
$0
Total assets, end of year
$23,865,548
Total liabilities, end of year
$19,381,491
Net assets or fund balances, end of year
$4,484,057
Program services expenses (Part IX)
$3,995,966
Management and general expenses
$658,160
Fundraising expenses
$47,012
Program service expenses (Part III)
$3,995,966

Program services were 85.0% 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)

    $3,923,857

  • 1f · All other contributions, gifts and grants

    $92,000

  • 2a · Program service revenue: AFFORDABLE HOUSING

    total $629,748 · related or exempt $629,748

  • 2b · Program service revenue: LOAN SERVICING

    total $191,374 · related or exempt $191,374

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,458,112 · program services $1,239,395 · management and general $204,136 · fundraising $14,581

  • 11b · Fees: legal

    total $2,679 · program services $2,277 · management and general $375 · fundraising $27

  • 11c · Fees: accounting

    total $99,671 · program services $84,720 · management and general $13,954 · fundraising $997

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $103,736 · program services $88,176 · management and general $14,523 · fundraising $1,037

  • 16 · Occupancy

    total $122,440 · program services $104,074 · management and general $17,142 · fundraising $1,224

  • 17 · Travel

    total $25,569 · program services $21,733 · management and general $3,580 · fundraising $256

  • 23 · Insurance

    total $35,167 · program services $29,892 · management and general $4,923 · fundraising $352

  • 24a · Other expenses: BUILDING REPAIRS

    total $2,853,764 · program services $2,425,699 · management and general $399,527 · fundraising $28,538

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,600,789 · end of year $1,918,214

  • 2 · Savings and temporary cash investments

    beginning of year $8,261,600 · end of year $6,440,291

  • 4 · Accounts receivable

    beginning of year $10,933,607 · end of year $11,996,909

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,102,975 · end of year $1,187,098

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $2,041,298 · end of year $2,323,036

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,785,991 · end of year $68,398

  • 19 · Deferred revenue

    beginning of year $800,000 · end of year $1,250,000

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $17,006,062 · end of year $18,063,093

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,348,216 · end of year $4,484,057

Mission and programs · 2024

Mission

PRESERVE LOWER INCOME NEIGHBORHOODS THROUGH THE PRESERVATION OF QUALITY AFFORDABLE RENTAL HOUSING.

  • TROUBLED BUILDINGS INITIATIVE (TBI): AS OF SEPTEMBER 30, 2025, CII IS THE COURT APPOINTED RECEIVER ON NUMEROUS BUILDINGS MOST IN NEED OF REPAIR AND PRESENT THE MOST PROBLEMS TO THEIR COMMUNITIES. THROUGH THE PROGRAM, TBI HAS TAKEN ACTION ON 1,310 BUILDINGS WITH 23,696 HOUSING UNITS, AND 964 BUILDINGS WITH 17,767 UNITS HAVE BEEN RECOVERED.

    Expenses $3,995,966 · Revenue $821,122

As filed on the 2024 return.

Listed in Part VII

  • STACIE YOUNG

    PRESIDENT

    Total calculated
    $374,205
    From this org
    $0
    From related orgs
    $346,087
    Other
    $28,118
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,087 related
    Bonus
    $0 + $95,000 related
    Other
    $0
    Deferred
    $0 + $26,018 related
    Nontaxable benefits
    $0 + $2,100 related
    Filer's total
    $0 + $374,205 related

  • ANGIE MARKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • FRANK PETTAWAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOHN GHOLAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROBERT MARJAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RONDELLA HUNT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JONAH HESS

    CII VICE PRESIDENT

    Total calculated
    $235,637
    From this org
    $0
    From related orgs
    $206,699
    Other
    $28,938
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,579 related
    Bonus
    $0 + $43,044 related
    Other
    $0 + $76 related
    Deferred
    $0 + $15,877 related
    Nontaxable benefits
    $0 + $13,061 related
    Filer's total
    $0 + $235,637 related

  • MARTIN BABBO

    SVP/CHIEF CREDIT OFFICER

    Total calculated
    $295,285
    From this org
    $0
    From related orgs
    $270,559
    Other
    $24,726
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,448 related
    Bonus
    $0 + $41,000 related
    Other
    $0 + $111 related
    Deferred
    $0 + $8,216 related
    Nontaxable benefits
    $0 + $16,510 related
    Filer's total
    $0 + $295,285 related

  • MICHAEL CIACCIA

    TREASURER/CFO

    Total calculated
    $308,245
    From this org
    $0
    From related orgs
    $258,155
    Other
    $50,090
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,869 related
    Bonus
    $0 + $48,520 related
    Other
    $0 + $1,766 related
    Deferred
    $0 + $16,164 related
    Nontaxable benefits
    $0 + $33,926 related
    Filer's total
    $0 + $308,245 related

  • MONICA KIRBY

    ASSISTANT SECRETARY

    Total calculated
    $105,670
    From this org
    $0
    From related orgs
    $87,202
    Other
    $18,468
    Hours/week
    1 + 39 related

  • PHILLIP MOORE

    SVP/DIRECTOR OF LENDING

    Total calculated
    $258,502
    From this org
    $0
    From related orgs
    $209,725
    Other
    $48,777
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,863 related
    Bonus
    $0 + $41,625 related
    Other
    $0 + $1,237 related
    Deferred
    $0 + $16,727 related
    Nontaxable benefits
    $0 + $32,050 related
    Filer's total
    $0 + $258,502 related

  • ANDRE COLLINS

    ACQUISITION MANAGER

    Total calculated
    $295,040
    From this org
    $0
    From related orgs
    $269,507
    Other
    $25,533
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,011 related
    Bonus
    $0 + $49,496 related
    Other
    $0
    Deferred
    $0 + $12,472 related
    Nontaxable benefits
    $0 + $13,061 related
    Filer's total
    $0 + $295,040 related

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

  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND OTHER OFFICERS IS PAID BY COMMUNITY INVESTMENT CORPORATION, A RELATED TAX EXEMPT ORGANIZATION. COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION, COMMUNITY INVESTMENT CORPORATION, INC. A COMPENSATION SURVEY OR STUDY IS CONDUCTED AND COMPENSATION IS APPROVED BY THE BOARD.
SCHEDULE J, PART I, LINE 6B COMPENSATION CONTINGENT ON NET EARNINGS OF A RELATED ORGANIZATION
ANDRE COLLINS, ACQUISITION MANAGER, IS PAID A COMMISSION BY CIC, COMPUTED AS A PERCENTAGE OF NET REVENUE GENERATED FROM THE ACQUISITION AND LINE OF CREDIT PROGRAM. CIC ALSO PAYS ANDRE COLLINS A SALARY RELATED TO THE ACTIVITIES OF CEPF, LLC.
SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENTS
AS INDICATED IN SCHEDULE J, PART II, EMPLOYEES OF THE ORGANIZATION, INCLUDING HIGHEST COMPENSATED INDIVIDUALS, RECEIVED A BONUS BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF COMMUNITY INVESTMENT CORPORATION, A RELATED TAX-EXEMPT ORGANIZATION.

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.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2024
Filed
11 August 2026
IRS schema version
2024v5.1
Source object
202632239349300023

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