Totals
- Total revenue
- $6,684,587
- Total expenses
- $4,561,932
- Contributions and grants received
- $5,740,891
- Grants paid
- $0
- Program service revenue
- $942,774
- Investment income
- $922
- Other revenue
- $0
- Total assets, end of year
- $18,529,952
- Total liabilities, end of year
- $9,120,196
- Net assets or fund balances, end of year
- $9,409,756
- Program services expenses (Part IX)
- $3,501,723
- Management and general expenses
- $730,812
- Fundraising expenses
- $329,397
- Program service expenses (Part III)
- $3,501,723
Program services were 76.8% 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)
$4,072,009
-
1f · All other contributions, gifts and grants
$1,668,882
-
2a · Program service revenue: PROGRAM INTEREST FROM LOANS
total $740,244 · related or exempt $740,244
-
2b · Program service revenue: ADMINISTRATION FEES
total $108,162 · related or exempt $108,162
-
2c · Program service revenue: CLIENT FEES
total $94,368 · related or exempt $94,368
-
3 · Investment income
total $922 · excluded $922
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $610,544 · program services $172,702 · management and general $263,427 · fundraising $174,415
-
7 · Other salaries and wages
total $2,027,986 · program services $1,740,966 · management and general $217,047 · fundraising $69,973
-
8 · Pension plan contributions
total $44,135 · program services $41,742 · management and general $2,212 · fundraising $181
-
9 · Other employee benefits
total $305,089 · program services $254,619 · management and general $36,249 · fundraising $14,221
-
10 · Payroll taxes
total $197,232 · program services $145,553 · management and general $34,626 · fundraising $17,053
-
11c · Fees: accounting
total $98,680 · program services $28,139 · management and general $70,541
-
11g · Fees: other
total $134,138 · program services $122,765 · fundraising $11,373
-
12 · Advertising and promotion
total $9,018 · program services $6,141 · management and general $394 · fundraising $2,483
-
13 · Office expenses
total $40,922 · program services $32,349 · management and general $6,184 · fundraising $2,389
-
14 · Information technology
total $198,072 · program services $143,939 · management and general $45,517 · fundraising $8,616
-
16 · Occupancy
total $127,777 · program services $104,899 · management and general $14,332 · fundraising $8,546
-
17 · Travel
total $57,824 · program services $34,309 · management and general $13,418 · fundraising $10,097
-
19 · Conferences, conventions and meetings
total $13,711 · program services $7,381 · management and general $2,901 · fundraising $3,429
-
20 · Interest
total $132,599 · program services $132,599
-
22 · Depreciation, depletion and amortization
total $4,446 · program services $3,663 · management and general $487 · fundraising $296
-
23 · Insurance
total $13,671 · program services $11,263 · management and general $1,497 · fundraising $911
-
24a · Other expenses: LOAN SERVICING EXPENSES
total $282,907 · program services $282,907
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $219,961 · program services $219,961
-
24c · Other expenses: MEMBERSHIP DUES/LICENSE
total $43,220 · program services $15,826 · management and general $21,980 · fundraising $5,414
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,293,192 · end of year $338,653
-
2 · Savings and temporary cash investments
beginning of year $944,981 · end of year $2,900,446
-
3 · Pledges and grants receivable
beginning of year $514,399 · end of year $4,582,693
-
4 · Accounts receivable
beginning of year $45,335 · end of year $93,528
-
9 · Prepaid expenses and deferred charges
beginning of year $45,537 · end of year $39,669
-
10a · Land, buildings and equipment: cost or other basis
$155,108
-
10b · Land, buildings and equipment: accumulated depreciation
$142,286
-
10c · Land, buildings and equipment, net
beginning of year $14,258 · end of year $12,822
-
13 · Investments: program-related
beginning of year $9,055,983 · end of year $10,288,249
-
15 · Other assets
beginning of year $382,030 · end of year $273,892
-
17 · Accounts payable and accrued expenses
beginning of year $127,677 · end of year $372,811
-
19 · Deferred revenue
beginning of year $40,500 · end of year $304,278
-
21 · Escrow or custodial account liability
beginning of year $448,000 · end of year $8,000
-
23 · Secured mortgages and notes payable
beginning of year $433,001 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $7,093,750 · end of year $7,687,500
-
25 · Other liabilities
beginning of year $865,686 · end of year $747,607
-
27 · Net assets without donor restrictions
beginning of year $6,382,817 · end of year $6,426,541
-
28 · Net assets with donor restrictions
beginning of year $904,284 · end of year $2,983,215
Mission and programs · 2022
Mission
WORKING SOLUTIONS CDFI IS THE FIRST TO BELIEVE IN START-UP AND EARLY-STAGE BUSINESSES BY PROVIDING DIVERSE ENTREPRENEURS WITH AFFORDABLE CAPITAL, CUSTOMIZED BUSINESS CONSULTING, AND COMMUNITY CONNECTIONS TO INCREASE ECONOMIC OPPORTUNITY IN NORTHERN CALIFORNIA.
Activities or mission (Part I)
WORKING SOLUTIONS IS A CERTIFIED NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) THAT SUPPORTS NORTHERN CALIFORNIA ENTREPRENEURS TO START AND GROW THRIVING LOCAL BUSINESSES. WE SPECIALIZE IN START-UP AND EARLY-STAGE FINANCING FOR INDIVIDUALS VIA CAPITAL, CONSULTING, AND COMMUNITY CONNECTIONS.
-
WORKING SOLUTIONS CDFI ("WORKING SOLUTIONS OR "THE ORGANIZATION") IS A CALIFORNIA NONPROFIT CORPORATION AND A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). WORKING SOLUTIONS IS THE FIRST TO BELIEVE IN START-UP AND EARLY-STAGE BUSINESSES BY PROVIDING AFFORDABLE CAPITAL, CUSTOMIZED BUSINESS CONSULTING, AND COMMUNITY CONNECTIONS TO DIVERSE ENTREPRENEURS - WITH A FOCUS ON LOW-INCOME INDIVIDUALS, ENTREPRENEURS OF COLOR, AND WOMEN - TO INCREASE ECONOMIC OPPORTUNITY IN NORTHERN CALIFORNIA. WORKING SOLUTIONS SUPPORTS MICROENTERPRISE GROWTH TO STRENGTHEN THE LOCAL ECONOMY, CREATE JOBS, AND BUILD STRONG COMMUNITIES. WORKING SOLUTIONS PROVIDES THE FOLLOWING SERVICES: (I) LOANS FROM $5,000 TO $100,000; (II) SMALL BUSINESS GRANTS; (III) FREE, ONE-ON-ONE BUSINESS CONSULTING TO HELP ENTREPRENEURS NAVIGATE THE CHALLENGES OF OWNING A SMALL BUSINESS WITH A SPECIFIC FOCUS ON FINANCIAL MANAGEMENT AND RISK MITIGATION; AND (IV) REFERRALS TO FREE OR LOW-COST INDUSTRY EXPERTS FOR LEGAL, ACCOUNTING, MARKETING, AND OTHER TYPES OF SPECIALIZED SUPPORT.
Expenses $3,501,723 · Revenue $942,774
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Marci RosenfeldMARCI ROSENFELD
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Olivia RebanalOLIVIA REBANAL
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Christina TraversCHRISTINA TRAVERS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Mindy ChristensenMINDY CHRISTENSEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Haseeb ChaudhryHASEEB CHAUDHRY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Emily GasnerEMILY GASNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brian NagendraBRIAN NAGENDRA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Purvi PatelPURVI PATEL
BOARD MEMBER (START 1/2023)
- Total calculated
- $0
- Hours/week
- 1
-
Lena RobinsonLENA ROBINSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Paloma VidgenPALOMA VIDGEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Cameron WilsonCAMERON WILSON
BOARD MEMBER (THROUGH 7/2023)
- Total calculated
- $0
- Hours/week
- 1
-
Sara RazaviSARA RAZAVI
CHIEF EXECUTIVE OFFICER
- Total calculated
- $184,797
- From this org
- $178,136
- From related orgs
- $0
- Other
- $6,661
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,333
- Bonus
- $0
- Other
- $803
- Deferred
- $6,661
- Nontaxable benefits
- $0
- Filer's total
- $184,797
-
Gasper MagallanesGASPER MAGALLANES
CHIEF FINANCIAL OFFICER
- Total calculated
- $191,304
- From this org
- $176,990
- From related orgs
- $0
- Other
- $14,314
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $173,081
- Bonus
- $3,500
- Other
- $409
- Deferred
- $5,227
- Nontaxable benefits
- $9,087
- Filer's total
- $191,304
-
Laura HooverLAURA HOOVER
CHIEF DEVELOPMENT OFFICER
- Total calculated
- $204,853
- From this org
- $170,561
- From related orgs
- $0
- Other
- $34,292
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $170,561
- Bonus
- $0
- Other
- $0
- Deferred
- $6,425
- Nontaxable benefits
- $27,867
- Filer's total
- $204,853
-
Titilope IkhileTITILOPE IKHILE
CHIEF PROGRAM OFFICER
- Total calculated
- $174,030
- From this org
- $146,281
- From related orgs
- $0
- Other
- $27,749
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,257
- Bonus
- $5,000
- Other
- $1,024
- Deferred
- $5,222
- Nontaxable benefits
- $22,527
- Filer's total
- $174,030
-
Debra SteinemanDEBRA STEINEMAN
SENIOR ACCOUNTING MANAGER
- Total calculated
- $136,031
- From this org
- $111,947
- From related orgs
- $0
- Other
- $24,084
- 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
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 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
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- ALL EMPLOYEES (INCLUDING THE LISTED EMPLOYEES IN FORM 990, PART VII, SECTION A) ARE ELIGIBLE TO RECEIVE REIMBURSEMENT FOR GYM MEMBERSHIPS/FITNESS CENTER DUES, WHICH IS REPORTED AS TAXABLE COMPENSATION TO THE EMPLOYEE.
- PART I, LINE 7
- BONUSES, WHEN BEING MADE, ARE CALCULATED UTILIZING A FORMULA, A COMPONENT OF WHICH REQUIRES THE USE OF DISCRETION BY INDIVIDUALS DETERMINING THE AMOUNT OF BONUS AWARDED.
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
- 14 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400459349302965
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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