Form 990 for tax year 2022
Filed by FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC.
Totals
- Total revenue
- $4,463,178
- Total expenses
- $5,631,735
- Contributions and grants received
- $4,450,297
- Grants paid
- $579,252
- Program service revenue
- $12,881
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $2,694,259
- Total liabilities, end of year
- $3,180,724
- Net assets or fund balances, end of year
- -$486,465
- Program services expenses (Part IX)
- $5,482,764
- Management and general expenses
- $133,542
- Fundraising expenses
- $15,429
- Program service expenses (Part III)
- $5,482,764
Program services were 97.4% 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
$4,450,297
-
2a · Program service revenue: PROGRAM PARTICIPANT FEES
total $12,881 · related or exempt $12,881
-
3 · Investment income
total $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $579,252 · program services $579,252
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $100,905 · program services $59,330 · management and general $31,615 · fundraising $9,960
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $106,972 · program services $106,972
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $14,408 · program services $11,527 · management and general $2,149 · fundraising $732
-
10 · Payroll taxes
total $15,998 · program services $12,798 · management and general $2,447 · fundraising $753
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $116,719 · program services $51,824 · management and general $64,895
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $202 · program services $61 · management and general $121 · fundraising $20
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $4,467 · program services $1,340 · management and general $2,680 · fundraising $447
-
17 · Travel
total $37,894 · program services $37,894
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $12,298 · management and general $12,298
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $458 · management and general $458
-
24a · Other expenses: PROGRAM DELIVERY FEES
total $4,613,510 · program services $4,611,010 · management and general $1,250 · fundraising $1,250
-
24b · Other expenses: SOFTWARE EXPENSES
total $20,690 · program services $6,207 · management and general $12,414 · fundraising $2,069
-
24c · Other expenses: PAYROLL PROCESSING FEES
total $4,599 · program services $3,679 · management and general $920
-
24d · Other expenses: MERCHANT FEES
total $1,480 · program services $444 · management and general $888 · fundraising $148
-
24e · All other expenses
total $1,883 · program services $426 · management and general $1,407 · fundraising $50
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $206,927 · end of year $98,151
-
2 · Savings and temporary cash investments
beginning of year $3,267 · end of year $3,268
-
3 · Pledges and grants receivable
beginning of year $1,155,000 · end of year $2,429,115
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $163,725 · end of year $163,725
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $846,827 · end of year $2,680,724
-
24 · Unsecured notes and loans payable
end of year $500,000
-
27 · Net assets without donor restrictions
beginning of year -$117,908 · end of year -$2,937,985
-
28 · Net assets with donor restrictions
beginning of year $800,000 · end of year $2,451,520
Mission and programs · 2022
Mission
HELP UNDERSERVED, UNDER-REPRESENTED SMALL BUSINESS OWNERS OVERCOME CHALLENGES THEY FACE DUE TO LACK OF ACCESS TO CAPITAL AND TO ASSIST THEM IN INCREASING BUSINESS CAPACITY RESULTING IN HIGHER REVENUE GROWTH AND PROVIDING MORE JOBS.
-
FastPath:FastPath is designed for companies generating $1 million to $5 million in annual revenues. The program is best suited for successful Founder/CEOs, needing up to $1 million in growth capital as well as professional development, including leadership skills, confidence, and vision to overcome challenges and realize opportunities in accelerating revenue growth.
Expenses $2,658,582 · Grants $549,952 · Revenue $12,881
-
Bootcamp:Bootcamp is for entrepreneurs with established businesses, earning a minimum of $250K in annual revenue, who want to achieve rapid growth. 90-day, weekly online 12 group sessions. Onsite Pitch and Graduation Event in La Jolla, CA, with opportunity to compete for up to $7,500 cash and service prizes. Learn what it takes to develop an effective growth and funding plan that gets funders to say yes to your request to fund your business growth. Includes 9-months of post-program support coaching and support.
Expenses $1,403,747 · Grants $24,650
-
Challenge:Challenge is for entrepreneurs with established businesses, earning between $50,000 and $250,000 in annual revenue, who want to achieve growth. 60-day Mini-Accelerator Program consists of four (4) workshops where you will learn how to work ON your business, not just IN your business! Program completes with Pitch and Graduation Event, with opportunity to compete for up to $5,000 cash and service prizes. Includes 18 months of post-program support coaching and support.
Expenses $714,335 · Grants $4,650
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Shaylon ScottSHAYLON SCOTT
Executive Dir.
- Total calculated
- $112,043
- From this org
- $105,927
- From related orgs
- $0
- Other
- $6,116
- Hours/week
- 40
-
Kim FolsomKIM FOLSOM
Chairman
- Total calculated
- $0
- Hours/week
- 15 + 40 related
-
Sulaiman RahmanSULAIMAN RAHMAN
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Beverly ColeBEVERLY COLE
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Alicia QuinnALICIA QUINN
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Sharon PayneSHARON PAYNE
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Yadira EsquedaYADIRA ESQUEDA
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Maurice WilsonMAURICE WILSON
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Rohan KaleROHAN KALE
Director
- Total calculated
- $0
- Hours/week
- 1
-
Ila GomezILA GOMEZ
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Kurtis TrevanKURTIS TREVAN
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Tony BialoruckTONY BIALORUCK
Trustee
- 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.
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
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FOUNDERS FIRST CAP PTNRS INC
C CORP · SMALL BUSINESS TRAINING · CA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 July 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401929349301955
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