Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $16,616

• 2a · Program service revenue: INTEREST AND LOAN FEES

  total $11,452 · related or exempt $11,452

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $792,669 · program services $680,330 · management and general $112,339

• 8 · Pension plan contributions

  total $45,460 · program services $35,533 · management and general $9,927

• 9 · Other employee benefits

  total $85,682 · program services $65,808 · management and general $19,874

• 10 · Payroll taxes

  total $55,058 · program services $47,463 · management and general $7,595

• 11b · Fees: legal

  total $46,332 · program services $46,332

• 11c · Fees: accounting

  total $8,216 · management and general $8,216

• 12 · Advertising and promotion

  total $485,326 · program services $485,326

• 13 · Office expenses

  total $30,674 · program services $16,405 · management and general $14,269

• 14 · Information technology

  total $456,847 · program services $410,326 · management and general $46,521

• 16 · Occupancy

  total $32,726 · management and general $32,726

• 17 · Travel

  total $28,089 · program services $23,120 · management and general $4,969

• 20 · Interest

  total $225 · program services $225

• 23 · Insurance

  total $11,990 · management and general $11,990

• 24a · Other expenses: MISCELLANEOUS EXPENSES

  total $105,115 · program services $73,541 · management and general $31,574

• 24b · Other expenses: LOAN LOSS RESERVE

  total $51,562 · program services $51,562

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $153,594 · end of year $356,004

• 7 · Other notes and loans receivable

  beginning of year $210,803 · end of year $363,676

• 9 · Prepaid expenses and deferred charges

  beginning of year $26,466 · end of year $78,789

• 17 · Accounts payable and accrued expenses

  beginning of year $5,595 · end of year $5,905

• 23 · Secured mortgages and notes payable

  end of year $125,000

• 25 · Other liabilities

  beginning of year $1,121,179 · end of year $111,378

• 27 · Net assets without donor restrictions

  beginning of year -$735,911 · end of year $556,186

The filer's explanations (Part III)

PART I, LINE 3

THE CEO'S SALARY IS PAID BY RELATED ORGANIZATIONS. EVERY FEW YEARS, A SALARY SURVEY OF THE INDUSTRY IS PERFORMED TO ENSURE THAT THE ORGANIZATION'S SALARY EXPENSES ARE REASONABLE. THE EXECUTIVE COMMITTEE OF THE BOARD MEETS TO SET THE SALARY RANGES FOR ALL POSITIONS AND TO APPROVE THE CEO'S COMPENSATION FOR THE YEAR. THE EXECUTIVE COMMITTEE KEEPS MINUTES OF EACH MEETING.

PART I, LINE 4B

ELYSE CHERRY, CEO, 457F PLAN. DEWITT JONES, EXECUTIVE VP, 457F PLAN. LISA ZAPPALA, CFO, 457F PLAN.

SCHEDULE J, PART II:

ELYSE CHERRY, INCLUDED IN PART II, COLUMN B (III) IS A $200,000 457F PAYOUT. RELATED TO THIS PAYOUT AND REPORTED IN PART II, COLUMN F IS $100,000. THE NET COMPENSATION AS CALCULATED BY TAKING PART II, COLUMN E LESS PART II, COLUMN F IS $989,108. DEWITT JONES, INCLUDED IN PART II, COLUMN B (III) IS A $100,000 457F PAYOUT. RELATED TO THIS PAYOUT AND REPORTED IN PART II, COLUMN F IS $50,000. THE NET COMPENSATION AS CALCULATED BY TAKING PART II, COLUMN E LESS PART II, COLUMN F IS $459,789. LISA ZAPPALA, INCLUDED IN PART II, COLUMN B (III) IS A $100,000 457F PAYOUT. RELATED TO THIS PAYOUT AND REPORTED IN PART II, COLUMN F IS $50,000. THE NET COMPENSATION AS CALCULATED BY TAKING PART II, COLUMN E LESS PART II, COLUMN F IS $415,463.