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Nonprofiteer
← NCRC COMMUNITY DEVELOPMENT FUND INC

Form 990 for tax year 2024

Filed by NCRC COMMUNITY DEVELOPMENT FUND INC.

Totals

Total revenue
$2,252,467
Total expenses
$7,655,011
Contributions and grants received
$733,099
Grants paid
$0
Program service revenue
$1,808,593
Investment income
-$306,586
Other revenue
$17,361
Total assets, end of year
$55,569,537
Total liabilities, end of year
$38,686,941
Net assets or fund balances, end of year
$16,882,596
Program services expenses (Part IX)
$5,963,372
Management and general expenses
$1,691,639
Fundraising expenses
$0
Program service expenses (Part III)
$5,963,372

Program services were 77.9% 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

    $733,099

  • 2a · Program service revenue: INTEREST

    total $1,802,146 · related or exempt $1,802,146

  • 2b · Program service revenue: UNDERWRITING & PROCESSING FEES

    total $6,447 · related or exempt $6,447

  • 3 · Investment income

    total $206,957 · excluded $206,957

  • 7a · Gross sales of assets other than inventory

    securities $56,180

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

    securities $569,723

  • 7c · Gain or loss

    securities -$513,543

  • 7d · Net gain or loss

    total -$513,543 · excluded -$513,543

  • 11a · Other revenue: OTHER INCOME

    total $17,361 · excluded $17,361

  • 11e · Other revenue, total

    $17,361

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $2,168 · management and general $2,168

  • 11c · Fees: accounting

    total $110,229 · management and general $110,229

  • 11g · Fees: other

    total $2,002,673 · program services $642,734 · management and general $1,359,939

  • 12 · Advertising and promotion

    total $7,290 · program services $6,140 · management and general $1,150

  • 13 · Office expenses

    total $15,316 · program services $1,700 · management and general $13,616

  • 14 · Information technology

    total $78,208 · program services $45,243 · management and general $32,965

  • 16 · Occupancy

    total $24,751 · program services $2,747 · management and general $22,004

  • 17 · Travel

    total $108,063 · management and general $108,063

  • 19 · Conferences, conventions and meetings

    total $13,547 · program services $1,503 · management and general $12,044

  • 20 · Interest

    total $1,272,105 · program services $1,272,105

  • 23 · Insurance

    total $1,822 · program services $202 · management and general $1,620

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $3,987,523 · program services $3,987,523

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $19,828 · program services $2,200 · management and general $17,628

  • 24e · All other expenses

    total $11,488 · program services $1,275 · management and general $10,213

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,529,201 · end of year $7,839,419

  • 2 · Savings and temporary cash investments

    beginning of year $1,373,458 · end of year $391,007

  • 3 · Pledges and grants receivable

    beginning of year $1,840,786 · end of year $1,628,689

  • 4 · Accounts receivable

    beginning of year $3,353,154 · end of year $3,354,110

  • 7 · Other notes and loans receivable

    beginning of year $48,654,809 · end of year $42,356,312

  • 9 · Prepaid expenses and deferred charges

    beginning of year $553

  • 12 · Investments: other securities

    beginning of year $1,545,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $79,701 · end of year $349,525

  • 24 · Unsecured notes and loans payable

    beginning of year $39,790,000 · end of year $37,790,000

  • 25 · Other liabilities

    beginning of year $5,142,693 · end of year $547,416

  • 27 · Net assets without donor restrictions

    beginning of year $22,285,140 · end of year $16,882,596

Mission and programs · 2024

Mission

NCRC CDF, A US TREASURY-CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, PROVIDES ACCESS TO CAPITAL FOR AMERICA'S UNDERSERVED COMMUNITIES THAT SUPPORTS ENTREPRENEURSHIP AND AFFORDABLE HOMEOWNERSHIP.

Activities or mission (Part I)

NCRC CDF PROVIDES ACCESS TO CAPITAL THAT SUPPORTS ENTREPRENEURSHIP AND AFFORDABLE HOMEOWNERSHIP IN AMERICA'S UNDERSERVED COMMUNITIES.

  • THE AFFORDABLE HOUSING PROGRAM PROVIDES FUNDING TO ENTITIES TO REHABILITATE, DEVELOP, AND PROMOTE AFFORDABLE HOUSING AND HOME OWNERSHIP IN LOW- AND MODERATE-INCOME CENSUS TRACTS FOR PERSONS OF LOW- AND MODERATE-INCOME.

    Expenses $3,338,568 · Revenue $1,325,350

  • THE SMALL BUSINESS PROGRAM PROVIDES FUNDING TO SMALL BUSINESSES INCLUDING MINORITY-OWNED, WOMEN-OWNED AND LOW-INCOME BUSINESSES.

    Expenses $2,570,480 · Revenue $428,919

  • THE AMERICAN RESCUE PLAN GRANT MADE FUNDS AVAILABLE FOR RECOVERY TO BUSINESSES IN THE ARTS, RESTAURANTS, AND HOTEL SECTORS THAT EXPERIENCED FINANCIAL HARDSHIP DUE THE COVID-19 PANDEMIC. THE PROGRAM PROVIDED CAPITAL TO BUSINESSES IN ILLINOIS.

    Expenses $54,324 · Revenue $54,324

As filed on the 2024 return.

Listed in Part VII

  • Jesse Van Tol

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4 + 40 related

  • Irvin Henderson

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Robert Dickerson Jr

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Charles Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Donna Gambrell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Simon McNeil

    EXECUTIVE DIRECTOR

    Total calculated
    $176,407
    From this org
    $0
    From related orgs
    $155,823
    Other
    $20,584
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $155,823 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $1,177 related
    Nontaxable benefits
    $0 + $19,407 related
    Filer's total
    $0 + $176,407 related

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

None.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349312112

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