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Nonprofiteer
← PARTNERS FOR THE COMMON GOOD INC

Form 990 for tax year 2022

Filed by PARTNERS FOR THE COMMON GOOD INC.

Totals

Total revenue
$4,280,450
Total expenses
$3,575,096
Contributions and grants received
$1,006,776
Grants paid
$0
Program service revenue
$3,138,420
Investment income
$135,254
Other revenue
$0
Total assets, end of year
$60,206,337
Total liabilities, end of year
$39,797,902
Net assets or fund balances, end of year
$20,408,435
Program services expenses (Part IX)
$2,185,257
Management and general expenses
$1,099,209
Fundraising expenses
$290,630
Program service expenses (Part III)
$2,185,257

Program services were 61.1% 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)

    $690,000

  • 1f · All other contributions, gifts and grants

    $316,776

  • 2a · Program service revenue: LOAN PORTFOLIO INTERES

    total $2,368,643 · related or exempt $2,368,643

  • 2b · Program service revenue: FEE INCOME - LOAN PORT

    total $769,777 · related or exempt $769,777

  • 3 · Investment income

    total $59,656 · excluded $59,656

  • 7a · Gross sales of assets other than inventory

    other assets $340,782

  • 7b · Less cost or other basis and sales expenses

    other assets $265,184

  • 7c · Gain or loss

    other assets $75,598

  • 7d · Net gain or loss

    total $75,598 · excluded $75,598

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $422,839 · program services $212,628 · management and general $169,136 · fundraising $41,075

  • 11a · Fees: management

    total $1,217,871 · program services $612,415 · management and general $487,148 · fundraising $118,308

  • 11b · Fees: legal

    total $11,261 · management and general $11,261

  • 11c · Fees: accounting

    total $162,468 · program services $79,149 · management and general $56,523 · fundraising $26,796

  • 11g · Fees: other

    total $405,130 · program services $202,851 · management and general $133,603 · fundraising $68,676

  • 13 · Office expenses

    total $91,510 · program services $24,909 · management and general $65,774 · fundraising $827

  • 14 · Information technology

    total $4,519 · program services $1,131 · management and general $3,346 · fundraising $42

  • 16 · Occupancy

    total $131,978 · program services $66,366 · management and general $52,791 · fundraising $12,821

  • 17 · Travel

    total $35,320 · program services $7,014 · management and general $18,009 · fundraising $10,297

  • 19 · Conferences, conventions and meetings

    total $14,662 · program services $2,912 · management and general $7,476 · fundraising $4,274

  • 20 · Interest

    total $967,491 · program services $967,491

  • 22 · Depreciation, depletion and amortization

    total $15,165 · program services $4,324 · management and general $10,841

  • 23 · Insurance

    total $24,057 · management and general $24,057

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $54,445 · program services $21,285 · management and general $33,160

  • 24b · Other expenses: LOAN WRITE-OFFS

    total $51,338 · program services $51,338 · management and general $0 · fundraising $0

  • 24c · Other expenses: COMPUTER REPAIR AND MAI

    total $15,783 · program services $0 · management and general $15,783 · fundraising $0

  • 24d · Other expenses: LOAN DISTRIBUTION FEES

    total $13,301 · program services $13,301 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total -$64,042 · program services -$81,857 · management and general $10,301 · fundraising $7,514

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,765,455 · end of year $3,196,891

  • 2 · Savings and temporary cash investments

    beginning of year $8,946,062 · end of year $14,164,478

  • 4 · Accounts receivable

    beginning of year $1,680,644 · end of year $1,357,893

  • 7 · Other notes and loans receivable

    beginning of year $43,118,170 · end of year $39,434,009

  • 9 · Prepaid expenses and deferred charges

    beginning of year $66,276 · end of year $52,600

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

    $1,803,621

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

    $374,470

  • 10c · Land, buildings and equipment, net

    beginning of year $51,656 · end of year $1,429,151

  • 11 · Investments: publicly traded securities

    beginning of year $529,826 · end of year $545,065

  • 15 · Other assets

    beginning of year $234,934 · end of year $26,250

  • 17 · Accounts payable and accrued expenses

    beginning of year $787,638 · end of year $1,060,706

  • 24 · Unsecured notes and loans payable

    beginning of year $35,688,128 · end of year $38,472,749

  • 25 · Other liabilities

    beginning of year $229,415 · end of year $264,447

  • 27 · Net assets without donor restrictions

    beginning of year $18,842,842 · end of year $19,688,435

  • 28 · Net assets with donor restrictions

    beginning of year $845,000 · end of year $720,000

Mission and programs · 2022

Mission

OUR MISSION IS TO ADVANCE ECONOMIC JUSTICE AND OPPORTUNITY BY PARTNERING WITH ORGANIZATIONS WHO PROVIDE ACCESS TO CAPITAL FOR LOW INCOME PEOPLE AND COMMUNITIES.

Activities or mission (Part I)

PROVIDING COMMUNITY DEVELOPMENT LOANS

  • PARTNERS FOR THE COMMON GOOD PROVIDES AN EFFECTIVE AND FISCALLY PRUDENT MECHANISM THROUGH WHICH INSTITUTIONAL INVESTORS CAN SUPPORT COMMUNITY DEVELOPMENT NATIONWIDE AND ABROAD. WE MOVE OUR ECONOMY FORWARD BY PROVIDING COMMUNITY DEVELOPMENT LOANS AND ENCOURAGING COMMUNITY ENGAGEMENT.

    Expenses $1,950,034 · Revenue $2,592,878

  • CAPNEXUS - AN ONLINE TOOL FOR CDFIS, INVESTORS, AND OTHERS IN THE COMMUNITY DEVELOPMENT FINANCE FIELD TO CONNECT MISSION FOCUSED CAPITAL WITH COMMUNITY DEVELOPMENT PROJECTS. IT STRENGTHENS THE CAPACITY OF INSTITUTIONS AND THE INDUSTRY TO SERVE COMMUNITIES THAT NEED IT MOST.

    Expenses $67,688

  • NEW MARKETS TAX CREDITS - PARTNERS FOR THE COMMON GOOD PARTICIPATES IN THE NEW MARKETS CREDIT PROGRAM, AS AN EXTENSION OF LENDING DONE THROUGH OUR GENERAL LOAN FUND. THE NMTC ALLOWS PCG TO SIGNIFICANTLY INCREASE THE FLOW OF CAPITAL TO LOW INCOME COMMUNITIES BY PROVIDING A TAX INCENTIVE TO PRIVATE INVESTORS.

    Expenses $167,535 · Revenue $545,542

As filed on the 2022 return.

Listed in Part VII

  • Amir Kirkwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Barbara Dreher

    OUTGOING-BOARD OF DIRECTORS - SECRE

    Total calculated
    $0
    Hours/week
    2

  • Dan Betancourt

    BOARD OF DIRECTORS - CHAIR

    Total calculated
    $0
    Hours/week
    2

  • David Landis

    DIRECTOR (UNTIL 9/2022)

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Novak

    BOARD OF DIRECTORS - TREAS

    Total calculated
    $0
    Hours/week
    2

  • Jie Wang

    DIRECTOR - VICE CHAIRPERSO

    Total calculated
    $0
    Hours/week
    2

  • John Holdsclawiv

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Karen Kollias

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kim Levine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marguerite O'Brien Csj

    BOARD OF DIRECTORS - SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Patricia Wittberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tabitha

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeannine Jacokes

    CEO

    Total calculated
    $243,798
    From this org
    $208,551
    From related orgs
    $0
    Other
    $35,247
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,551
    Bonus
    $0
    Other
    $0
    Deferred
    $21,304
    Nontaxable benefits
    $13,943
    Filer's total
    $243,798

  • Larita Mimms

    CHIEF ACCOUNTING & ADMIN O

    Total calculated
    $179,041
    From this org
    $141,967
    From related orgs
    $0
    Other
    $37,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,967
    Bonus
    $10,000
    Other
    $0
    Deferred
    $11,402
    Nontaxable benefits
    $25,672
    Filer's total
    $179,041

  • Andrew S Baldwin

    CHIEF LENDING AND CREDIT O

    Total calculated
    $196,325
    From this org
    $176,919
    From related orgs
    $0
    Other
    $19,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,919
    Bonus
    $10,000
    Other
    $0
    Deferred
    $16,286
    Nontaxable benefits
    $3,120
    Filer's total
    $196,325

  • Barbara Yiadom

    DIRECTOR OF PORTFOLIO MANAGEMENT

    Total calculated
    $159,713
    From this org
    $140,180
    From related orgs
    $0
    Other
    $19,533
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,680
    Bonus
    $4,500
    Other
    $0
    Deferred
    $7,740
    Nontaxable benefits
    $11,793
    Filer's total
    $159,713

  • Dorian Butts

    SENIOR LOAN OFFICER

    Total calculated
    $137,808
    From this org
    $120,945
    From related orgs
    $0
    Other
    $16,863
    Hours/week
    40

  • Gloria Nauden

    CHIEF MARKETING AND IMPACT OFFICER

    Total calculated
    $144,234
    From this org
    $134,639
    From related orgs
    $0
    Other
    $9,595
    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

  • 3 · Approval by the board or compensation committee

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.

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.

  • PCG SUB CDE 1

    RELATED · CDE · DC · 0.01% owned · share of income $20 · share of assets $535 · general or managing partner

  • PCG SUB CDE 2

    RELATED · CDE · DC · 0.01% owned · share of income $3 · share of assets $683 · general or managing partner

  • PCG SUB CDE 3

    RELATED · CDE · DC · 0.01% owned · share of income $14 · share of assets $584 · general or managing partner

  • PCG SUB CDE 4

    RELATED · CDE · DC · 0.01% owned · share of assets $589 · general or managing partner

  • PCG SUB CDE 5

    RELATED · CDE · DC · 0.01% owned · share of assets $538 · general or managing partner

  • PCG SUB CDE 6

    RELATED · CDE · DC · 0.01% owned · share of income $3 · share of assets $491 · general or managing partner

  • PCG SUB CDE 7

    RELATED · CDE · DC · 0.01% owned · share of income $1 · share of assets $590 · general or managing partner

  • PCG SUB CDE 8

    RELATED · CDE · DC · 0.01% owned · share of income $25 · share of assets $882 · general or managing partner

  • PCG SUB CDE 9

    RELATED · CDE · DC · 0.01% owned · share of income $2 · share of assets $743 · general or managing partner

  • PCG SUB CDE 10

    RELATED · CDE · DC · 0.01% owned · share of assets $704 · general or managing partner

  • PCG SUB CDE 11

    RELATED · CDE · DC · 0.01% owned · share of income $1 · share of assets $694 · general or managing partner

  • PCG SUB CDE 12

    RELATED · CDE · DC · 0.01% owned · share of income $5 · share of assets $638 · general or managing partner

  • PCG SUB CDE 13

    RELATED · CDE · DC · 0.01% owned · share of income $1 · share of assets $696 · general or managing partner

  • ECONOMIC JUSTICE PARTNERSHIP FUND LLC

    RELATED · LENDING · DC · 99.99% owned · share of income -$7,062 · share of assets $430,474

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHRISTIAN BROTHERS

    C · PAYROLL · NY

Provenance

Return type
form_990
Tax year
2022
Filed
24 August 2023
IRS schema version
2022v5.0
Source object
202312419349300426

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