Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,572,482

• 1f · All other contributions, gifts and grants

  $9,355,574

• 2a · Program service revenue: PROGRAM AND PROCESSING FEES

  total $2,092,633 · related or exempt $2,092,633

• 2b · Program service revenue: LOAN INTEREST INCOME

  total $1,706,899 · related or exempt $1,706,899

• 3 · Investment income

  total $391,734 · excluded $391,734

• 11a · Other revenue: LOAN RECOVERIES

  total $213,202 · related or exempt $213,202

• 11b · Other revenue: MISCELLANEOUS REVENUE

  total $2,437 · related or exempt $2,437

• 11e · Other revenue, total

  $215,639

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $910,354 · program services $359,761 · management and general $404,682 · fundraising $145,911

• 7 · Other salaries and wages

  total $4,904,119 · program services $3,667,712 · management and general $680,282 · fundraising $556,125

• 9 · Other employee benefits

  total $1,632,657 · program services $1,140,226 · management and general $298,976 · fundraising $193,455

• 11b · Fees: legal

  total $403,222 · program services $138,623 · management and general $243,421 · fundraising $21,178

• 11c · Fees: accounting

  total $473,816 · program services $324,429 · management and general $149,387

• 11g · Fees: other

  total $637,567 · program services $368,383 · management and general $269,184

• 12 · Advertising and promotion

  total $100,312 · program services $53,909 · management and general $46,403

• 13 · Office expenses

  total $400,492 · program services $173,510 · management and general $226,982

• 16 · Occupancy

  total $373,782 · program services $12,979 · management and general $360,803

• 17 · Travel

  total $199,628 · program services $162,192 · management and general $34,831 · fundraising $2,605

• 19 · Conferences, conventions and meetings

  total $127,832 · program services $119,416 · management and general $6,626 · fundraising $1,790

• 20 · Interest

  total $636,867 · program services $636,867

• 22 · Depreciation, depletion and amortization

  total $16,428 · management and general $16,428

• 23 · Insurance

  total $101,343 · management and general $101,343

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $5,003,862 · program services $5,003,862

• 24b · Other expenses: RECRUITMENT EXPENSES

  total $118,666 · program services $85,440 · management and general $20,173 · fundraising $13,053

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $47,794 · program services $22,538 · management and general $17,575 · fundraising $7,681

• 24d · Other expenses: ALLOCATED INDIRECT EXPE

  total -$1,582,588 · program services -$1,582,588

• 24e · All other expenses

  total $86,783 · management and general $86,783

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $14,690,812 · end of year $19,008,459

• 3 · Pledges and grants receivable

  beginning of year $4,016,108 · end of year $816,419

• 4 · Accounts receivable

  beginning of year $324,673 · end of year $284,953

• 7 · Other notes and loans receivable

  beginning of year $29,791,729 · end of year $27,206,077

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

  $323,141

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

  $303,228

• 10c · Land, buildings and equipment, net

  beginning of year $36,340 · end of year $19,913

• 12 · Investments: other securities

  beginning of year $759,618 · end of year $766,330

• 15 · Other assets

  beginning of year $2,224,147 · end of year $1,900,281

• 17 · Accounts payable and accrued expenses

  beginning of year $1,208,200 · end of year $1,196,690

• 19 · Deferred revenue

  beginning of year $4,572,753 · end of year $2,228,552

• 21 · Escrow or custodial account liability

  beginning of year $691,307 · end of year $137,691

• 24 · Unsecured notes and loans payable

  beginning of year $24,888,134 · end of year $27,242,487

• 25 · Other liabilities

  beginning of year $698,865 · end of year $386,328

• 27 · Net assets without donor restrictions

  beginning of year $12,144,535 · end of year $10,893,809

• 28 · Net assets with donor restrictions

  beginning of year $7,639,633 · end of year $7,916,875

The filer's explanations (Part III)

PART I, LINE 7

THE BONUSES REPORTED ON SCHEDULE J, PART II (B)(II) ARE NON-FIXED AND APPROVED BY THE BOARD.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• TRU-CAPITAL INVESTMENT FUND LLC

  FINANCING · DE · income $343,634 · assets $1,898,633

  Directly controlled by TRUFUND FINANCIAL SERVICES

• TRU-CAPITAL INVESTMENT FUND II LLC

  FINANCING · DE · income $53,001 · assets $490,606

  Directly controlled by TRUFUND FINANCIAL SERVICES

• NY EMERGING DEVELOPERS EQUITY FUND LLC

  FINANCING · DE · income $0 · assets $0

  Directly controlled by TRUFUND FINANCIAL SERVICES

Related partnerships

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

• EMPOWERMENT REINVESTMENT FUND LLC

  RELATED · FINANCING · NY · 99% owned · share of income $724,012 · share of assets $5,469,297 · general or managing partner

  Directly controlled by TRUFUND FINANCIAL SERVICES

Related corporations and trusts

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

• ERF HOLDINGS LLC

  C · FINANCING · NY · 100% owned · share of income $7,313 · share of assets $63,245 · controlled entity

  Directly controlled by TRUFUND FINANCIAL SERVICES