2021-11-09T16:11:09-06:00 2020-12-31 221430039 SOBEL & CO LLC CPA'S 293 EISENHOWER PARKWAY LIVINGSTON NJ 070391711 990 2020-01-01 113720098 RISING TIDE CAPITAL INC RISI 2014324316 311 MARTIN LUTHER KING DRIVE JERSEY CITY NJ 07305 ALEX FORRESTER CHIEF STRATEGY & INNOVATION OFFICER 2014324316 2021-11-09 1 ALEX FORRESTER 999009999 TARA DEL GAVIO P02438051 9739949494 2021-11-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ALEX FORRESTER 311 MARTIN LUTHER KING DRIVE JERSEY CITY NJ 07305 7734873 0 X WWW.RISINGTIDECAPITAL.ORG X 2004 NJ RISING TIDE CAPITAL IS A NONPROFIT ORGANIZATION WHOSE MISSION IS FOCUSED ON TRANSFORMING LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. WE ASSIST LOW-INCOME ENTREPRENEURS TO BUILD STRONG BUSINESSES THAT TRANSFORM LIVES, STRENGTHEN FAMILIES AND CREATE VIBRANT, SUSTAINABLE NEIGHBORHOODS. IN DOING SO, WE HELP TO BUILD MORE INCLUSIVE, RESILIENT AND HEALTHY LOCAL ECONOMIES IN THE COMMUNITIES WHERE RISING TIDE ENTREPRENEURS LIVE AND WORK. WE ARE DRIVEN BY A VISION OF HOW STRONG COMMUNITIES OF RESILIENT ENTREPRENEURS CAN CATALYZE A THRIVING AND SUSTAINABLE ECONOMY FOR ALL. 11 10 24 21 0 0 3920590 7520537 334214 203806 13547 6347 5529 4183 4273880 7734873 0 0 0 0 2781954 2714500 0 0 435172 3261477 2019562 6043431 4734062 -1769551 3000811 5676054 8934854 2197641 2455630 3478413 6479224 X RISING TIDE CAPITAL IS A NONPROFIT ORGANIZATION WHOSE MISSION IS FOCUSED ON TRANSFORMING LIVES AND COMMUNITIES THROUGH ENTREPRENEURSHIP. WE ASSIST LOW-INCOME ENTREPRENEURS TO BUILD STRONG BUSINESSES THAT TRANSFORM LIVES, STRENGTHEN FAMILIES AND CREATE VIBRANT, SUSTAINABLE NEIGHBORHOODS. IN DOING SO, WE HELP TO BUILD MORE INCLUSIVE, RESILIENT AND HEALTHY LOCAL ECONOMIES IN THE COMMUNITIES WHERE RISING TIDE ENTREPRENEURS LIVE AND WORK. WE ARE DRIVEN BY A VISION OF HOW STRONG COMMUNITIES OF RESILIENT ENTREPRENEURS CAN CATALYZE A THRIVING AND SUSTAINABLE ECONOMY FOR ALL. 0 0 3560675 203806 RISING TIDE CAPITAL PROVIDED INTENSIVE BUSINESS DEVELOPMENT SERVICES TO 1,247 ENTREPRENEURS DURING 2020. 138 PEOPLE GRADUATED FROM OUR COMMUNITY BUSINESS ACADEMY, 699 PEOPLE RECEIVED ADVANCED TECHNICAL SUPPORT AND COACHING THROUGH OUR BUSINESS ACCELERATION SERVICES PROGRAM, AND 598 PEOPLE RECEIVED CREDIT COUNSELING, LOAN PACKAGING, AND ACCESS TO CAPITAL SERVICES THROUGH OUR CREDIT TO CAPITAL PROGRAM. DURING 2020 THESE EFFORTS RESULTED IN 64 NEW BUSINESS STARTS, 498 BUSINESS STRENGTHENED/STABILIZED, 227 BUSINESS EXPANDED, AND THE CREATION OF 342 NEW JOBS (185 F.T.E.). WITHIN TWO YEARS OF GRADUATING THE COMMUNITY BUSINESS ACADEMY, OUR ENTREPRENEURS EXPERIENCE AN AVERAGE 84% INCREASE IN BUSINESS REVENUE AND 62% INCREASE IN HOUSEHOLD INCOME. OUR NATIONAL PROGRAM PARTNERSHIPS (NPP) PROGRAM, WHICH LICENSES THE RISING TIDE MODEL TO PARTNER ORGANIZATIONS IN COMMUNITIES NATIONWIDE TO ACCELERATE THEIR DEVELOPMENT AND IMPACT AS LOCAL ENTREPRENEURSHIP SUPPORT HUBS, SUPPORTED SIX PARTNER ORGANIZATIONS IN 2020, INCLUDING THE TRAINING AND LAUNCH OF PARTNERS IN THREE NEW STATES. OUR PARTNER ORGANIZATIONS SERVED A TOTAL OF 490 ENTREPRENEURS IN 2020, BRINGING THE TOTAL NUMBER OF ENTREPRENEURS SERVED BY THE RISING TIDE MODEL IN 2020 TO 1,737. 3560675 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 91 0 1 24 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ NY X MOSES ADEGBOYEGA 2014324316 311 MARTIN LUTHER KING DRIVE JERSEY CITY NJ 07305 DOUG FORRESTER CHAIRMAN 2.00 X X 0 0 0 JOHN MAHONEY VICE CHAIRMAN 2.00 X X 0 0 0 RON GRAVINO TREASURER 2.00 X X 0 0 0 ARIADNE PAPGAPITOS SECRETARY 2.00 X X 0 0 0 ALFA DEMMELLASH CHIEF EXECUTIVE OFFICER 40.00 X X 181000 0 18496 ANAND DEVENDRAN TRUSTEE 2.00 X X 0 0 0 MATTHEW BARNES TRUSTEE 2.00 X 0 0 0 ALEJANDRO ROS TRUSTEE 2.00 X 0 0 0 AICHA BALLA TRUSTEE 2.00 X 0 0 0 KRISTEN SHARP TRUSTEE 2.00 X 0 0 0 JOE MASTERSON TRUSTEE 2.00 X 0 0 0 ALEX FORRESTER CHIEF STRATEGY AND INNOVAT 40.00 X 157286 0 22801 JAY SAVULICH CHIEF OPERATING OFFICER THROUGH SEPTEMBER 2020 40.00 X 125108 0 14981 ANDREA GEROLDI CHIEF OF STAFF 40.00 X 149354 0 7579 GILLIAN SARJEANT-ALLEN EXECUTIVE DIRECTOR - NJ 40.00 X 121138 0 17955 LOUISA COUSINS DIRECTOR - PROGRAM EVALUAT 40.00 X 109328 0 17583 843214 0 99395 6 0 1 0 YOUR PART-TIME CONTROLLER LLC 1500 WALNUT STREET PHILADELPHIA PA 19102 CONTROLLER & ACCOUNTANT 211501 BARRY E WIGGINS 3347 QUESADA ST NW WASHINGTON DC 20015 CONSULTING FIRM 111921 2 928374 6592163 7520537 NATIONAL PROGRAM PARTN 611710 165622 165622 CBA AND BAS 611710 38184 38184 203806 6347 6347 4183 0 4183 4183 4183 7734873 203806 0 10530 X 815700 593748 116825 105127 1473772 1064147 212060 197565 38617 30134 5299 3184 219468 171255 30116 18097 166943 130269 22908 13766 19750 13760 4792 1198 965931 640072 258046 67813 11546 11546 7091 4632 1854 605 34729 24196 8426 2107 103615 55299 38822 9494 21661 15863 1810 3988 3253 3253 375 375 18705 9008 8160 1537 RESEARCH AND PUBLICATIO 529653 529653 PROGRAM SEMINAR AND EVE 128476 128476 EQUIPMENT, SOFTWARE AND 127202 100426 17513 9263 PRINTING AND POSTAGE 31319 29891 0 1428 16256 5047 11209 4734062 3560675 738215 435172 363623 402109 1380648 2645585 1007757 2404594 321974 56946 244364 37021 3444031 59832 2350288 3384199 7400 4400 5676054 8934854 482891 127303 214750 325000 1500000 1500000 0 503327 2197641 2455630 X 1134222 2647995 2344191 3831229 3478413 6479224 5676054 8934854 3000811 0 X X 0 1 X 1 1 1 X 5252863 5776840 3573705 3920590 7510076 26034074 5252863 5776840 3573705 3920590 7510076 26034074 9067715 16966359 7141 14911 20663 13547 6347 62609 101034 101034 26197717 803787 0.64760 0.48410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1533827 1533827 7155 7155 0 127677 52677 75000 1775372 1775372 3384199 REFUNDABLE ADVANCE - PPP LOAN 503327 503327 X 8285399 550526 550526 7734873 0 7734873 5284588 550526 550526 4734062 0 4734062 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS ALSO EXEMPT FROM STATE INCOME TAXES. THE ORGANIZATION FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED 2020 AND 2019. AT DECEMBER 31, 2020 AND 2019, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES. X X 0 0 0 0 0 0 0 0 0 ALFA DEMMELLASH CHIEF EXECUTIVE OFFICER 181000 0 0 0 0 0 9050 0 9446 0 199496 0 0 0 ALEX FORRESTER CHIEF STRATEGY AND INNOVAT 157286 0 0 0 0 0 8050 0 14751 0 180087 0 0 0 ANDREA GEROLDI CHIEF OF STAFF 149354 0 0 0 0 0 0 0 7579 0 156933 0 0 0 PART I, LINE 3 RISING TIDE CAPITAL USES ANNUALLY UPDATED MARKET RESEARCH ABOUT NONPROFIT COMPENSATION FOR ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC LOCATION. THIS INFORMATION IS PUBLISHED BY PROFESSIONALS FOR NONPROFITS AND GUIDE STAR. THE DATA INFLUENCES THE CEO'S DECISION ABOUT STAFF COMPENSATION DURING ANNUAL PERFORMANCE REVIEWS OF EACH STAFF MEMBER. THE BOARD EXECUTIVE COMPENSATION TASK FORCE REVIEWS ANNUALLY THE PERFORMANCE OF THE CEO AND CSIO AND UTILIZES APPROPRIATE MARKET DATA TO DETERMINE EXECUTIVE COMPENSATION. EXECUTIVE PERFORMANCE REVIEW IS DONE ANNUALLY AROUND MAY OF EACH YEAR. FORM 990, PART VI, SECTION A, LINE 2 DOUGLAS FORRESTER, CHAIRMAN OF THE BOARD, IS THE FATHER OF ALEX FORRESTER, COO, AND FATHER IN-LAW OF ALFA DEMMELLASH, CEO. ALFA DEMMELLASH, CEO, IS MARRIED TO ALEX FORRESTER, CSIO. FORM 990, PART VI, SECTION B, LINE 11B AFTER COMPLETION OF THE ORGANIZATION'S ANNUAL AUDIT, THE CEO, CSIO, COO AND CONTROLLER TO GATHER INFORMATION TO COMPLETE THE FORM 990 AND APPROVED BY THE BOARD FOR ACCURACY PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ALL STAFF AND BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY DISCLOSURE FORM AT THE TIME OF BEGINNING SERVICE AT RISING TIDE CAPITAL. DISCLOSURE FORMS ARE REVIEWED BY THE GOVERNANCE COMMITTEE AND REQUIRED TO BE RENEWED ANNUALLY, OR AT ANY POINT THAT A NEW POTENTIAL CONFLICT EMERGES. FORM 990, PART VI, SECTION B, LINE 15 RISING TIDE CAPITAL USES ANNUALLY UPDATED MARKET RESEARCH ABOUT NONPROFIT COMPENSATION FOR ORGANIZATIONS OF SIMILAR SIZE, MISSION, AND GEOGRAPHIC LOCATION. THIS INFORMATION IS PUBLISHED BY PROFESSIONALS FOR NONPROFITS AND GUIDE STAR. THE DATA INFLUENCES THE CEO'S DECISION ABOUT STAFF COMPENSATION DURING ANNUAL PERFORMANCE REVIEWS OF EACH STAFF MEMBER. THE BOARD EXECUTIVE COMPENSATION TASK FORCE REVIEWS ANNUALLY THE PERFORMANCE OF THE CEO AND CSIO, AND UTILIZES APPROPRIATE MARKET DATA TO DETERMINE EXECUTIVE COMPENSATION. EXECUTIVE PERFORMANCE REVIEW IS DONE ANNUALLY AROUND MAY OF EACH YEAR. FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST, RISING TIDE CAPITAL WILL FORWARD ALL INFORMATION REQUIRED BY LAW PLUS PROMOTIONAL MATERIAL TO THE REQUESTOR. FORM 990, PART VI, SECTION C, LINE 19 RISING TIDE CAPITAL MAKES ITS GOVERNNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES : PROGRAM SERVICE EXPENSES 640,072. MANAGEMENT AND GENERAL EXPENSES 258,046. FUNDRAISING EXPENSES 67,813. TOTAL EXPENSES 965,931. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.