GROW AMERICA FUND INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- GROW AMERICA FUND INC (EIN 13-3641265)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-10
- IRS object ID
- 202333149349305263
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-10T15:19:17-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 221478099 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COHNREZNICK LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1301 AVENUE OF THE AMERICAS | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10019 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133641265 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GROW AMERICA FUND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GROW | BusinessNameControlTxt |
| Phone | 2126821106 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 633 THIRD AVE 19J | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10017 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL MARSH III | PersonNm |
| Person Title | CHAIRMAN | PersonTitleTxt |
| Phone | 2126821106 | PhoneNum |
| Signature | 2023-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DANIEL | PersonFirstNm |
| Person Last | MARSH III | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LORI ROTHE YOKOBOSKY CPA | PreparerPersonNm |
| PTIN | P01273422 | PTIN |
| Phone | 2122970400 | PhoneNum |
| Preparation | 2023-11-04 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | DANIEL MARSH III | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 633 THIRD AVE 19J | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,801,712 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.GROWAMERICAFUND.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1971 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 1 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,596,924 | PYContributionsGrantsAmt |
| CY Contributions Grants | $407,298 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,580,430 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,368,061 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,622 | PYOtherRevenueAmt |
| CY Other Revenue | $26,353 | CYOtherRevenueAmt |
| PY Total Revenue | $12,181,976 | PYTotalRevenueAmt |
| CY Total Revenue | $3,801,712 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,727,253 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,099,494 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,146,834 | PYOtherExpensesAmt |
| CY Other Expenses | $2,194,500 | CYOtherExpensesAmt |
| PY Total Expenses | $4,876,587 | PYTotalExpensesAmt |
| CY Total Expenses | $4,293,994 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $7,305,389 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$492,282 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $143,748,091 | TotalAssetsBOYAmt |
| Total Assets EOY | $53,966,443 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $123,931,549 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $34,642,183 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $19,816,542 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $19,324,260 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE GROW AMERICA FUND, INC. ("GAF") HAS A PRIMARY MISSION TO CREATE ECONOMIC OPPORTUNITY, STIMULATE INVESTMENT, AND TO ENCOURAGE ENTREPRENEURSHIP IN LOW-INCOME COMMUNITIES BY FINANCING BUSINESSES AND ENTREPRENEURS THAT INVEST IN THOSE DISADVANTAGED (CONT. ON SCHEDULE O) COMMUNITIES, AND/OR CREATE JOBS FOR LOW-INCOME UNEMPLOYED AND UNDER-EMPLOYED INDIVIDUALS. GAF, A LICENSED U.S. SBA SMALL BUSINESS LENDING COMPANY, AND U.S. DEPARTMENT OF THE TREASURY CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, PROVIDES ACCESS TO CAPITAL FOR BUSINESS EXPANSION STRUCTURED WITH LONGER AMORTIZATION TERMS AND LOWER INTEREST RATES. THESE LENDING TERMS SERVE TO DECREASE DEBT SERVICE COSTS AND IMPROVE THE BORROWER'S OPERATING CASH FLOW, GIVING BUSINESSES A FINANCIAL ADVANTAGE THAT HELPS STRENGTHEN BOTH THE ECONOMIC BASE OF THE BUSINESS, AND THE COMMUNITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $3,458,299 | ExpenseAmt |
| Revenue | $3,394,414 | RevenueAmt |
| Desc | GAF PROVIDES LONGER TERM, LOWER INTEREST RATE SMALL BUSINESS LOANS THAT ENABLE SMALL BUSINESSES TO CREATE JOBS, STIMULATE INVESTMENT, AND EXPAND THE ENTREPRENEURIAL AND SMALL BUSINESS BASE IN LOW-INCOME COMMUNITIES. (CONT. ON SCHEDULE O) | Desc |
| Total Program Service Expenses | $3,458,299 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 1 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DANIEL CHOI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2126821106 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 633 THIRD AVE SUITE 19J | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10017 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| DANIEL MARSH III | ||||||||
| CHAIRMAN | 2.75 | 52.25 | Yes (X) | Yes (X) | $0 | $452,944 | $190,813 | |
| ADAM ENNIS | ||||||||
| TREASURER | 3.00 | 47.00 | Yes (X) | Yes (X) | $0 | $220,109 | $90,195 | |
| STEPHANIE DUGAN | ||||||||
| BOARD MEMBER | 1.00 | 49.00 | Yes (X) | $0 | $215,123 | $73,474 | ||
| RAQUEL FAVELA | ||||||||
| BOARD MEMBER | 1.00 | 49.00 | Yes (X) | $0 | $216,670 | $72,461 | ||
| KEVIN GREMSE | ||||||||
| BOARD MEMBER | 1.00 | 49.00 | Yes (X) | $0 | $243,106 | $90,436 | ||
| PATRICIA THOMSON | ||||||||
| BOARD MEMBER | 0.25 | Yes (X) | $0 | $0 | $0 | |||
| CHARLEY DEPEW | ||||||||
| BOARD MEMBER | 1.00 | 49.00 | Yes (X) | $0 | $209,259 | $27,998 | ||
| DAVID TREVISANI | ||||||||
| BOARD MEMBER/INTERIM PRESIDENT | 8.50 | 41.50 | Yes (X) | Yes (X) | $0 | $214,643 | $85,560 | |
| JOHN PAYLO | ||||||||
| PRESIDENT | 42.00 | 8.00 | Yes (X) | Yes (X) | $0 | $214,066 | $81,711 | |
| JENNIE VERTREES | ||||||||
| SECRETARY | 7.50 | 42.50 | Yes (X) | $0 | $101,193 | $77,225 | ||
| DANIEL CHOI | ||||||||
| CFO | 15.00 | 35.00 | $0 | $164,163 | $86,257 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $2,251,276 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $876,130 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SHALLO GALLUSCIO & BIANCHI CPAS | |||||
| 21 NORTH SEVENTH STREET | HUDSON | NY | 12534 | ACCOUNTING | $150,465 |
| COHNREZNICK LLP | |||||
| 1301 AVENUE OF THE AMERICAS | NEW YORK | NY | 10019 | AUDITING | $144,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $250,000 | GovernmentGrantsAmt |
| All Other Contributions | $157,298 | AllOtherContributionsAmt |
| Total Contributions | $407,298 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST INCOME | 523000 | $2,925,257 | $2,925,257 |
| LOAN SERVICE FEES | 523000 | $248,166 | $248,166 |
| PREMIUM ON SALE OF LOA | 523000 | $164,689 | $164,689 |
| FEE INCOME | 523000 | $29,949 | $29,949 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,368,061 | TotalProgramServiceRevenueAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LATE FEES | Desc |
| Business | 523000 | BusinessCd |
| Total Revenue Column | $8,386 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $8,386 | RelatedOrExemptFuncIncomeAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,967 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,967 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $26,353 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,801,712 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,394,414 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,512,746 | TotalAmt |
| Program Services | $1,258,770 | ProgramServicesAmt |
| Management And General | $253,976 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $168,963 | TotalAmt |
| Program Services | $143,828 | ProgramServicesAmt |
| Management And General | $25,135 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $315,396 | TotalAmt |
| Program Services | $268,477 | ProgramServicesAmt |
| Management And General | $46,919 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $102,389 | TotalAmt |
| Program Services | $87,158 | ProgramServicesAmt |
| Management And General | $15,231 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $335,151 | TotalAmt |
| Program Services | $335,151 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $294,465 | TotalAmt |
| Management And General | $294,465 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,368 | TotalAmt |
| Program Services | $111,368 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,673 | TotalAmt |
| Program Services | $17,392 | ProgramServicesAmt |
| Management And General | $5,281 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,700 | TotalAmt |
| Program Services | $1,304 | ProgramServicesAmt |
| Management And General | $396 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $102,608 | TotalAmt |
| Program Services | $85,910 | ProgramServicesAmt |
| Management And General | $16,698 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $603,205 | TotalAmt |
| Program Services | $603,205 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,582 | TotalAmt |
| Management And General | $7,582 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| PROVISION FOR LOAN LOSS | $381,742 | $381,742 | |
| EQUIPMENT LEASES AND MA | $117,278 | $117,278 | |
| PROJECT AND OTHER FEES | $85,416 | $85,416 | |
| AMORTIZATION | $41,720 | $41,720 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $89,592 | TotalAmt |
| Program Services | $36,858 | ProgramServicesAmt |
| Management And General | $52,734 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,293,994 | TotalAmt |
| Program Services | $3,458,299 | ProgramServicesAmt |
| Management And General | $835,695 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,124,283 | BOYAmt |
| EOY | $15,198,149 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $590,000 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,888 | BOYAmt |
| EOY | $8,888 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,726,905 | BOYAmt |
| EOY | $26,532,594 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $324,985 | BOYAmt |
| EOY | $283,265 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,973,030 | BOYAmt |
| EOY | $11,943,547 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $143,748,091 | BOYAmt |
| EOY | $53,966,443 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,032,767 | BOYAmt |
| EOY | $835,147 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $98,416,333 | BOYAmt |
| EOY | $18,995,168 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,482,449 | BOYAmt |
| EOY | $14,811,868 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $123,931,549 | BOYAmt |
| EOY | $34,642,183 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,927,023 | BOYAmt |
| EOY | $11,749,981 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,889,519 | BOYAmt |
| EOY | $7,574,279 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,816,542 | BOYAmt |
| EOY | $19,324,260 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $143,748,091 | BOYAmt |
| EOY | $53,966,443 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$492,282 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,742,203 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $644,968 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,125,850 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,596,924 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $407,298 | CurrentTaxYearAmt |
| Total | $6,517,243 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,520,737 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,019,575 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,829,055 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,580,430 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,368,061 | CurrentTaxYearAmt |
| Total | $23,317,858 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,262,940 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,664,543 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,954,905 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $12,177,354 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,775,359 | CurrentTaxYearAmt |
| Total | $29,835,101 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $200,000 | CurrentTaxYearMinus2YearsAmt |
| Total | $200,000 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $200,000 | CurrentTaxYearMinus2YearsAmt |
| Total | $200,000 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $29,635,101 | PublicSupportTotal509Amt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $20,759 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $56,579 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $18,381 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,622 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $26,353 | CurrentTaxYearAmt |
| Total | $126,694 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,283,699 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,721,122 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,973,286 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $12,181,976 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,801,712 | CurrentTaxYearAmt |
| Total | $29,961,795 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.98910 | PublicSupportCY509Pct |
| Public Support PY509 | 0.98340 | PublicSupportPY509Pct |
| Investment Income CY | 0.00000 | InvestmentIncomeCYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | LATE FEES - 2018 AMOUNT: $ 17,976. 2019 AMOUNT: $ 29,592. 2020 AMOUNT: $ 5,122. 2021 AMOUNT: $ 4,622. 2022 AMOUNT: $ 8,386. MISCELLANEOUS INCOME - 2018 AMOUNT: $ 2,783. 2019 AMOUNT: $ 26,987. 2020 AMOUNT: $ 13,259. 2022 AMOUNT: $ 17,967. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROGRAM LOAN RECEIVABLES | Desc |
| Book Value | $26,532,594 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $26,532,594 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| RESTRICTED DEPOSITS | $1,295,149 |
| ESCROW HELD FOR BORROWERS AND OTHER AMOUNTS DUE FROM BORROWERS | $715,596 |
| INTEREST RECEIVABLE | $407,177 |
| SERVICE FEE RECEIVABLE | $525,376 |
| PPP LOANS RECEIVABLE | $8,822,528 |
| DUE FROM AFFILIATE | $177,721 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $11,943,547 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| CLIENT INVESTMENT LIABILITIES | $13,891,569 |
| DUE TO RELATED ENTITIES | $120,299 |
| SUBORDINATED DEBT | $800,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $14,811,868 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $2,825,512 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$976,200 | OtherRevenueAmt |
| Revenue Not Reported | -$976,200 | RevenueNotReportedAmt |
| Revenue Subtotal | $3,801,712 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $3,801,712 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,317,794 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $3,317,794 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $976,200 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $976,200 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $4,293,994 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION, AMONG OTHERS. THERE WERE NO UNCERTAIN TAX POSITIONS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | LOAN EXPENSES -603,205. PROVISION FOR LOAN LOSSES -372,995. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | LOAN EXPENSES 603,205. PROVISION FOR LOAN LOSSES 372,995. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DANIEL MARSH III | ||||||||||||||
| CHAIRMAN | $0 | $448,000 | $0 | $0 | $0 | $4,944 | $0 | $172,604 | $0 | $18,209 | $0 | $643,757 | $0 | $0 |
| KEVIN GREMSE | ||||||||||||||
| BOARD MEMBER | $0 | $240,841 | $0 | $0 | $0 | $2,265 | $0 | $44,772 | $0 | $45,664 | $0 | $333,542 | $0 | $0 |
| ADAM ENNIS | ||||||||||||||
| TREASURER | $0 | $219,640 | $0 | $0 | $0 | $469 | $0 | $45,531 | $0 | $44,664 | $0 | $310,304 | $0 | $0 |
| DAVID TREVISANI | ||||||||||||||
| BOARD MEMBER/INTERIM PRESIDENT | $0 | $211,641 | $0 | $0 | $0 | $3,002 | $0 | $40,946 | $0 | $44,614 | $0 | $300,203 | $0 | $0 |
| JOHN PAYLO | ||||||||||||||
| PRESIDENT | $0 | $212,048 | $0 | $0 | $0 | $2,018 | $0 | $41,094 | $0 | $40,617 | $0 | $295,777 | $0 | $0 |
| RAQUEL FAVELA | ||||||||||||||
| BOARD MEMBER | $0 | $215,591 | $0 | $0 | $0 | $1,079 | $0 | $53,390 | $0 | $19,071 | $0 | $289,131 | $0 | $0 |
| STEPHANIE DUGAN | ||||||||||||||
| BOARD MEMBER | $0 | $212,121 | $0 | $0 | $0 | $3,002 | $0 | $41,779 | $0 | $31,695 | $0 | $288,597 | $0 | $0 |
| DANIEL CHOI | ||||||||||||||
| CFO | $0 | $163,867 | $0 | $0 | $0 | $296 | $0 | $42,978 | $0 | $43,279 | $0 | $250,420 | $0 | $0 |
| CHARLEY DEPEW | ||||||||||||||
| BOARD MEMBER | $0 | $203,757 | $0 | $0 | $0 | $5,502 | $0 | $11,801 | $0 | $16,197 | $0 | $237,257 | $0 | $0 |
| JENNIE VERTREES | ||||||||||||||
| SECRETARY | $0 | $100,409 | $0 | $0 | $0 | $784 | $0 | $34,755 | $0 | $42,470 | $0 | $178,418 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE FOLLOWING INDIVIDUALS PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, NO CONTRIBUTIONS WERE MADE DURING THE YEAR. - DANIEL MARSH III | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1: | THE GROW AMERICA FUND, INC. ("GAF") HAS A PRIMARY MISSION TO CREATE ECONOMIC OPPORTUNITY, STIMULATE INVESTMENT, AND TO ENCOURAGE ENTREPRENEURSHIP IN LOW-INCOME COMMUNITIES BY FINANCING BUSINESSES AND ENTREPRENEURS THAT INVEST IN THOSE DISADVANTAGED COMMUNITIES, AND/OR CREATE JOBS FOR LOW-INCOME UNEMPLOYED AND UNDER-EMPLOYED INDIVIDUALS. GAF, A LICENSED U.S. SBA SMALL BUSINESS LENDING COMPANY, AND U.S. DEPARTMENT OF THE TREASURY CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, PROVIDES ACCESS TO CAPITAL FOR BUSINESS EXPANSION STRUCTURED WITH LONGER AMORTIZATION TERMS AND LOWER INTEREST RATES. THESE LENDING TERMS SERVE TO DECREASE DEBT SERVICE COSTS AND IMPROVE THE BORROWER'S OPERATING CASH FLOW, GIVING BUSINESSES A FINANCIAL ADVANTAGE THAT HELPS STRENGTHEN BOTH THE ECONOMIC BASE OF THE BUSINESS, AND THE COMMUNITY. |
| FORM 990, PART III, LINE 4A CONTINUATION: | GAF HAS ASSISTED MORE THAN 3300 SMALL BUSINESSES OWNED BY INDIVIDUALS PREVIOUSLY LACKING ACCESS TO APPROPRIATELY STRUCTURED FINANCING. OVER SIXTY-PERCENT OF OUR LOANS HAVE BEEN MADE IN CDFI-ELIGIBLE CENSUS TRACTS OR TO MINORITY BORROWERS. GAF NOT ONLY PROVIDES LOANS WITH FAVORABLE BELOW MARKET TERMS BUT ALSO PROVIDES INDIVIDUAL BUSINESS COUNSELING AT APPLICATION AND CONTINUING THROUGH THE ENTIRE TERM OF THE LOAN. LOANS MADE THROUGH THIS PROGRAM TOTAL OVER $485 MILLION. IN 2020 AND 2021, GAF VOLUME INCREASED AS A RESULT OF ITS LENDING ACTIVITY UNDER THE PAYCHECK PROTECTION PROGRAM (PPP) AS THE ORGANIZATION PROVIDED $198 PLUS MILLION TO MORE THAN 2600 BORROWERS NATION-WIDE. LOANS WERE MADE TO BOTH FOR PROFIT AND NONPROFIT BORROWERS AND OVER SEVENTY-FIVE PERCENT OF THE BORROWERS WERE EITHER MINORITY OR LOCATED WITHIN A CDFI ELIGIBLE CENSUS TRACT. GAF'S PPP LENDING RETAINED MORE THAN 25,000 JOBS, AND NINETY-NINE PERCENT OF THE PPP LOAN PORTFOLIO HAS BEEN PROCESSED FOR FORGIVENESS THROUGH THE SBA. LOANS OTHER THAN PPP ARE STRUCTURED TO FIT THE FINANCING NEEDS OF THE INDIVIDUAL BUSINESS AND CARRY BELOW MARKET RATES AND TERMS. TO ASSIST THE BORROWER, GAF CAPS CLOSING COSTS AND PROVIDES BUSINESS COUNSELING AT NO COST TO THE SMALL BUSINESSES. GAF LENDS IN DISTRESSED COMMUNITIES IN AN TWELVE-STATE MARKET WHERE THE POVERTY LEVEL IS DOUBLE THE NATIONAL AVERAGE. BUSINESSES RECEIVING FINANCING FROM GAF HAVE CREATED AND/OR RETAINED OVER 39,000 JOBS, AND APPROXIMATELY FIFTY-TWO PERCENT OF THOSE LOANS HAVE BEEN TO MINORITY AND WOMEN-OWNED BUSINESS. OVER THE PAST SEVERAL YEARS, GAF HAS RECEIVED NATIONAL RECOGNITION FROM A VARIETY OF INSTITUTIONS: - THE U.S. SMALL BUSINESS ADMINISTRATION HAS ACKNOWLEDGED GAF AS A MISSION-BASED LENDER FOR CARRYING OUT OUR MISSION TO MAKE CREDIT AVAILABLE TO DISADVANTAGED BUSINESSES AND HELPING THOSE BUSINESSES TO SUCCEED THROUGH OUR TECHNICAL ASSISTANCE. GAF IS AN SBA PREFERRED LENDER. - IN RECOGNITION OF OUR WORK, THE CDFI FUND HAS AWARDED OUR LOAN FUND MORE THAN $10 MILLION IN COMMUNITY FACILITY GRANTS TO CARRY OUT OUR MISSION. - IN THE EARLY 2000'S JPMORGAN CHASE MADE A $7 MILLION GRANT TO A CONSORTIUM OF SMALL BUSINESS LENDERS WORKING WITH DISADVANTAGED BUSINESSES IN LOW-INCOME COMMUNITIES IN CHASE'S COMMUNITY REINVESTMENT AREAS. GAF IS A MEMBER OF THE LENDING CONSORTIUM AND RECEIVED $2.3 MILLION OF THE $7 MILLION GRANT. - JP MORGAN CHASE, PNC BANK AND DISCOVER BANK SUPPORT OUR EFFORTS BY MAKING VERY LOW INTEREST LOANS AND GRANTS AVAILABLE TO US TO CARRY OUT OUR MISSION IN LOW-INCOME COMMUNITIES AND WITH DISADVANTAGED BUSINESSES. - THE LONGWOOD FOUNDATION, BALLMER GROUP, GREATER TACOMA COMMUNITY FOUNDATION, INHERENT FOUNDATION AND THE SEATTLE FOUNDATION HAVE MADE GRANTS AND PROGRAM RELATED INVESTMENTS (PRIS) AND GRANTS TO OUR SMALL BUSINESS LOAN FUND TOTALING MORE THAN $7 MILLION. BELOW ARE EXAMPLES OF DISADVANTAGED BUSINESSES THAT GAF'S SMALL BUSINESS LOAN FUND HAS RECENTLY ASSISTED: GAF 7A LENDING SBA GUARANTEED LENDING VOLUME WAS LOW IN 2022 DUE TO THE CONTINUED AVAILABILITY OF RECOVERY LOANS AND ASSISTANCE. HOWEVER, GAF WAS ABLE TO LEND $6.6 MILLION TO 16 BORROWERS. INCLUDED IN THOSE 16 LOANS ARE: IT TAKES A VILLAGE THIS SYRACUSE, NY BASED DAYCARE IS LOCATED IN A CDFI ELIGIBLE CENSUS TRACT. IT IS OWNED 100% BY AN AFRICAN AMERICAN WOMAN. THE TOTAL LOAN IN THE AMOUNT OF $270,000 FUNDED PURCHASE OF A PERMANENT FACILITY FOR THIS BUSINESS. MY SISTER'S FAULT THIS BAKERY IS LOCATED IN A CDFI ELIGIBLE CENSUS TRACT IN MILFORD, DE. IT IS OWNED 100% BY TWO PUERTO RICAN WOMEN. THE LOAN IN THE AMOUNT OF $750,000 PROVIDED FUNDS TO ACQUIRE A COMMERCIAL BUILDING AND PERMANENT WORKING CAPITAL TO FUND THE BUSINESS' OPERATING NEEDS. GAF'S 2022 7A LENDING CREATED/RETAINED 210 FULL-TIME JOBS. SIXTY-THREE PERCENT OF GAF'S 7A LOANS IN 2022 WERE MADE TO MWBE OWNERS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT, INC D/B/A THE NATIONAL DEVELOPMENT COUNCIL IS THE SOLE MEMBER OF GROW AMERICA FUND, INC. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT, INC D/B/A THE NATIONAL DEVELOPMENT COUNCIL AS THE SOLE MEMBER IT HAS THE RIGHT TO ELECT THE DIRECTORS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WAS PREPARED BY OUTSIDE TAX PREPARERS IN CONSULTATION WITH MANAGEMENT AND AUDITORS. A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO ENTIRE BOARD FOR REVIEW. A COMPLETE COPY OF THE FINAL FORM 990 WAS PROVIDED TO THE ORGANIZATION'S ENTIRE BOARD BEFORE IT WAS FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL MEMBERS OF THE GROW AMERICA FUND, INC. ("GAF") BOARD OF DIRECTORS AND EXECUTIVE EMPLOYEES ARE REQUIRED TO ANNUALLY EXECUTE A CONFLICT OF INTEREST AND COMPENSATION GUIDELINES ACKNOWLEDGEMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES. THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES REQUIRES BOARD MEMBERS AND EXECUTIVE EMPLOYEES TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY. THE CHAIRPERSON OF THE BOARD WILL UPON NOTIFICATION OF SUCH AN EVENT APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY CAN RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALSO, ALL BOARD MEMBERS, BY EXECUTING THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES, ACKNOWLEDGE THAT THEY SHARE THE RESPONSIBILITY OF GAF TO REMAIN FAITHFUL TO THE ORGANIZATION'S CHARITABLE PURPOSES. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE DOCUMENTS ARE AVAILABLE BY REQUEST. |
| FORM 990, PART IX, LINES 7-9: | THE AMOUNTS REPORTED ON LINES 7-9 RELATED TO EXPENSES PAID BY THE PARENT COMPANY (NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT EIN 13-6532871) AND ALLOCATED TO THE ORGANIZATION. |
| PART VI, 1B: | ALL OF THE ORGANIZATION'S BOARD MEMBERS WORK FOR THE PARENT ORGANIZATION NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT. WHILE ONE IS INDEPENDENT THE INDEPENDENT BOARD OF DIRECTORS OF THE PARENT OVERSEES THE ORGANIZATION'S OPERATIONS AND ACTIONS. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| MAIN STREET PROPERTIES NEW YORK LLC | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 273923128 | REAL ESTATE HOLDING COMPANY | NY | $0 | $0 | GROW AMERICA FUND INC |
| MAIN STREET PROPERTIES CONNECTICUT LLC | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 433318761 | REAL ESTATE HOLDING COMPANY | NY | $0 | $0 | GROW AMERICA FUND INC |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION-GROUP RETURN | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 911884698 | ECON DEV/ASSIST GOV/HOUSING | VA | 501(C)(3) | LINE 10 | NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC | 0 | |
| NDC SUPPORT I INC | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 134156877 | SUPPORT NDC | NY | 501(C)(3) | LINE 12A, I | NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC | 0 | |
| NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 112933129 | ECON DEV/ASSIST GOV/HOUSING | VA | 501(C)(3) | LINE 10 | NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC | 0 | |
| KINGSBOROUGH HOUSING DEVELOPMENT FUND COMPANY INC | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 141734500 | HOUSING | NY | 501(C)(3) | LINE 10 | NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC | 0 | |
| NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 136532871 | ASSIST GOV | NY | 501(C)(3) | LINE 10 | 0 | N/A | |
| NDC GREEN RENEWABLE ENERGY ENTERPRISE NEXUS | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 273820841 | ECONOMIC DEVELOPMENT | NY | 501(C)(3) | LINE 10 | NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC | 0 | |
| NDC RESOURCES | |||||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 460674188 | ECON DEV/HOUSING/ASSIST GOV'T | DC | 501(C)(3) | LINE 12A, I | NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC | 0 | |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (15 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Direct Controlling NADirectControllingNACd | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd |
|---|---|---|---|---|---|---|---|---|---|
| NDC CORPORATE EQUITY FUND III | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 134071776 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND IV | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 134151268 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND V | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 134195127 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND VI | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 050585420 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND VII | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 203273264 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND VIII | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 261481355 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND IX | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 264226439 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND X | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 454281155 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XI | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 462764258 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XII | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 473762588 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XIII | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 813113490 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XV | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 831506679 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XVII LP | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 851350461 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XVIII LP | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 861325179 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
| NDC CORPORATE EQUITY FUND XIX | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 883399188 | LOW INCOME HOUSING | NY | N/A | 0 | 0 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Direct Controlling NADirectControllingNACd | Entity TypeEntityTypeTxt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| COMMUNITY DEVELOPMENT GROUP HOLT | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 201643188 | HOUSING | NY | N/A | C | 0 |
| COMMUNITY DEVELOPMENT GROUP ILLINOIS INC | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 201644052 | ECONOMIC DEVELOPMENT | NY | N/A | C | 0 |
| COMMUNITY DEVELOPMENT GROUP KENTUCKY INC | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 133555220 | ECONOMIC DEVELOPMENT | NY | N/A | C | 0 |
| COMMUNITY DEVELOPMENT GROUP RENEWABLE ENERGY | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 262989445 | ECONOMIC DEVELOPMENT | NY | N/A | C | 0 |
| COMMUNITY DEVELOPMENT GROUP WALLA WALLA INC | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 133615889 | ECONOMIC DEVELOPMENT | NY | N/A | C | 0 |
| COMMUNITY DEVELOPMENT INVESTOR BROOKLYN | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 461534076 | ECONOMIC DEVELOPMENT | NY | N/A | C | 0 |
| HOUSING DEVELOPMENT GROUP III | |||||||||
| 633 THIRD AVE SUITE 19J | NEW YORK | NY | 10017 | 203673695 | HOUSING | NY | N/A | C | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |