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GROW AMERICA FUND INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
GROW AMERICA FUND INC (EIN 13-3641265)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-10
IRS object ID
202143149349301784
Schema version
2020v4.1
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

FieldValueIRS element (for citing)
Return2021-11-10T10:18:58-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN221478099PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1COHNREZNICK LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11301 AVENUE OF THE AMERICASAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10019ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN133641265EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GROW AMERICA FUND INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGROWBusinessNameControlTxt
Phone2126821106PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1325 GOLD STREET NO 501AddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDANIEL MARSH IIIPersonNm
Person TitleCHAIRMANPersonTitleTxt
Phone2126821106PhoneNum
Signature2021-11-08SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstDANIELPersonFirstNm
Person LastMARSH IIIPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLORI ROTHE YOKOBOSKY CPAPreparerPersonNm
PTINP01273422PTIN
Phone2122970400PhoneNum
Preparation2021-11-03PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Principal OfficerDANIEL MARSH IIIPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1325 GOLD STREET NO 501AddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$4,973,286GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.GROWAMERICAFUND.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1971FormationYr
Legal Domicile StateDELegalDomicileStateCd
Activity Or MissionTHE 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.ActivityOrMissionDesc
Voting Members Governing Body8VotingMembersGoverningBodyCnt
Voting Members Independent1VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers1TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$644,968PYContributionsGrantsAmt
CY Contributions Grants$1,125,850CYContributionsGrantsAmt
PY Program Service Revenue$3,019,575PYProgramServiceRevenueAmt
CY Program Service Revenue$3,829,055CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$56,579PYOtherRevenueAmt
CY Other Revenue$18,381CYOtherRevenueAmt
PY Total Revenue$3,721,122PYTotalRevenueAmt
CY Total Revenue$4,973,286CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$20,001CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$2,514,506PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,227,403CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$3,170,261PYOtherExpensesAmt
CY Other Expenses$2,190,401CYOtherExpensesAmt
PY Total Expenses$5,684,767PYTotalExpensesAmt
CY Total Expenses$4,437,805CYTotalExpensesAmt
PY Revenues Less Expenses-$1,963,645PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$535,481CYRevenuesLessExpensesAmt
Total Assets BOY$47,711,988TotalAssetsBOYAmt
Total Assets EOY$138,000,715TotalAssetsEOYAmt
Total Liabilities BOY$35,736,316TotalLiabilitiesBOYAmt
Total Liabilities EOY$125,489,562TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$11,975,672NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$12,511,153NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE 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.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$3,636,260ExpenseAmt
Grant$20,001GrantAmt
Revenue$3,847,436RevenueAmt
DescGAF 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. GAF HAS ASSISTED MORE THAN 3,200 SMALL BUSINESSES OWNED BY INDIVIDUALS PREVIOUSLY LACKING ACCESS TO APPROPRIATELY STRUCTURED FINANCING. SEVENTY-ONE 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 $462 MILLION. IN 2020, GAF VOLUME INCREASED AS A RESULT OF ITS LENDING ACTIVITY UNDER THE PAYCHECK PROTECTION PROGRAM (PPP). GAF PROVIDED $130 PLUS MILLION TO BORROWERS NATION-WIDE. LOANS WERE MADE TO BOTH FOR PROFIT AND NONPROFIT BORROWERS. OVER 60% OF THE BORROWERS WERE EITHER MINORITY OR LOCATED WITHIN A CDFI ELIGIBLE CENSUS TRACT. 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 ELEVEN-STATE MARKET WHERE THE POVERTY LEVEL IS DOUBLE THE NATIONAL AVERAGE. ADDITIONALLY, GAF OPERATES ITS SMALL BUSINESS-LENDING PROGRAM IN FIVE OF THE TEN MOST DISTRESSED CITIES IN AMERICA. CLEVELAND OHIO, BUFFALO NEW YORK, NEWARK NEW JERSEY, CINCINNATI OHIO, AND SAN BERNARDINO CALIFORNIA, HAVE DISTRESS RATINGS RANGING FROM 93.6 TO 99.9 OUT OF 100 ACCORDING TO THE ECONOMIC INNOVATION GROUP DISTRESSED COMMUNITY INDEX. BUSINESSES RECEIVING FINANCING FROM GAF HAVE CREATED AND/OR RETAINED OVER 42,000 JOBS, AND 30,250 OF THOSE JOBS ARE CONSIDERED FILLED BY LOW AND MODERATE-INCOME INDIVIDUALS. 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 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 $6.5 MILLION. BELOW ARE EXAMPLES OF DISADVANTAGED BUSINESSES THAT GAF'S SMALL BUSINESS LOAN FUND HAS RECENTLY ASSISTED:INTERIOR INNOVATIONS: INTERIOR INNOVATIONS (CUEVA CONTRACT) IS A RETAILER OF OFFICE FURNITURE. THE COMPANY SELLS COMMERCIAL FURNITURE DIRECT TO CONSUMERAND SERVICES A SERIES OF NEW YORK STATE AGENCIES WITH THEIR OFFICE DESIGN AND FURNITURE NEEDS. FOR YEARS INTERIOR INNOVATIONS OPERATED FROM UTICA, NY, BUT SOUGHT TO PURCHASE THEIR OWN FACILITY TO STORE LARGE INVENTORY AND CREATE A SHOWROOM. AFTER CAREFUL EXPLORATION OF THE LOCAL MARKET, THE SBC WAS ABLE TO IDENTIFY A 35,000 SQUARE FOOT SPACE IN SYRACUSE, NY THAT PROVIDES AMPLE SPACE FOR THE COMPANY TO GROW, WITH A LOADING DOCK, ELEVATOR, AND OTHER UNIQUE FEATURES. THE NEW FACILITY ALLOWS INTERIOR INNOVATIONS OFFICE SPACE, A SHOWROOM AND STORAGE.GAF WAS ABLE TO PROVIDE A $660,000 LOAN WITH A LOW RATE OVER A 25-YEAR TERM ENABLING INTERIOR INNOVATIONS TO ACQUIRE THE SYRACUSE PROPERTY. HARNESS CYCLE: WOMAN OWNED HARNESS CYCLE, LOCATED IN CLEVELAND, OH WAS FORMED IN 2012 AS A BEAT-DRIVEN CYCLE STUDIO OFFERING EXERCISE FOR MIND AND BODY. GAF PROVIDED A LOAN OF $205,000 TO REFINANCE DEBT SAVING THE COMPANY OVER $9,300 A MONTH IN DEBT PAYMENTS AND PROVIDE PERMANENT WORKING CAPITAL. ORION SYSTEMS INTEGRATION, INC.: ORION SYSTEMS INTEGRATION, INC. WAS ESTABLISHED IN 2006 AS AN IT CONSULTING FIRM BASED OUT OF PEMBROKE PINES, FLORIDA. THE COMPANY PROVIDES OUTSOURCED INFORMATION TECHNOLOGY (IT) SOLUTIONS TO SMALL AND MID-SIZE BUSINESSES THAT DO NOT HAVE OR CANNOT AFFORD AN IN-HOUSE IT STAFF.DURING THE PANDEMIC GAF PROVIDED A $25,870 PPP LOAN. ONCE THE ECONOMY SHIFTED TO RECOVERY GAF MADE A $108,000 7A LOAN TO ASSIST THE SBC IN ACQUIRING A COMMERCIAL SPACE.AFRICAN AND CARIBBEAN MARKET: AFRICAN & CARIBBEAN CENTRAL MARKET (ACCM) IS AN AFRICAN MARKET LOCATED IN SYRACUSE, NY AND WAS FOUNDED IN 2008. THE WBE WAS FOUNDED BY AN IMMIGRANT FROM GHANA WHO RELOCATED TO UPSTATE NY WHERE THERE IS A LARGE POPULATION OF WEST AFRICAN IMMIGRANTS. REALIZING A NEED, THE SBC PROVIDES BOTH HOT FOODS AND FOOD STAPLES NATIVE TO GHANA AND OTHER WEST AFRICAN COUNTRIES.GAF PROVIDED A $325,000 LOAN TO ACQUIRE A 12,300 SQUARE FOOT BUILDING TO OPERATE THE SBC IN DOWNTOWN SYRACUSE. COLOR RIN INC.: COLOR RIN INC., LOCATED IN VERNON, CA, IS A WHOLESALE APPAREL MANUFACTURER WITH SPECIALTY IN COLOR DEVELOPMENT AND FABRIC DYEING. THE BUSINESS WAS ESTABLISHED IN JANUARY 2016 AS A MINORITY OWNED BUSINESS, AND 100% OWNED BY ITS FOUNDER MR. YOUNG H. LEE. SINCE ITS INCEPTION, THE COMPANY HAS EMERGED AS AN INDUSTRY LEADER IN THE SOUTHERN CALIFORNIA GARMENT DYEING INDUSTRY, PROVIDING ITS EXPERTISE IN THE AREAS OF DYEING, TEXTILE, AND FABRIC SERVICES.GAF PROVIDED A LOAN OF $325,000 TO FUND PERMANENT WORKING CAPITAL. WIREBIDS: FORMED IN 2011, WIREBIDS LLC IS AN ONLINE AUCTION PLATFORM FOR COMMERCIAL PRINTERS, BOOKBINDERS, AND OTHER RELATED TRADES WHO WISH TO DISPOSE OF OR ACQUIRE EQUIPMENT FOR THEIR OPERATIONS. IT DEVELOPS AND MAINTAINS ITS OWN SOFTWARE, WHICH IS NOW ON ITS THIRD GENERATION. PRESENTLY, IT HAS 13,000 ACTIVE USERS AND FACILITATE SALES OF OVER $5 MILLION PER YEAR. WIREBIDS DOES NOT BUY OR SELL EQUIPMENT ITSELF IT FACILITATES SALES BY PROVIDING THE PLATFORM AND CHARGING A COMMISSION TO SELLERS OF 5%-10% OF THE SALE PRICE, WHICH THE SELLER MAY CHOOSE TO PASS ON TO THE BUYER AS A BUYER'S PREMIUM. WIREBIDS ALSO CREATES A COMBINED AUCTION EVENT ONCE A MONTH WHEREIN A SELLER OF A FEW ITEMS MAY PARTICIPATE IN A LARGER EVENT WITH SEVERAL SELLERS TO MAXIMIZE EXPOSURE AND CREATE A NETWORK EFFECT. GAF FINANCED A LOAN OF $610,000 TO PURCHASE A BUILDING TO HOUSE ITS BUSINESS. VIRTAIR: VIRTAIR INC. (VAI) WAS ESTABLISHED IN 2014 AND PROVIDES HOSPITALS AND OTHER MEDICAL CLINICS WITH THE TIMELY DELIVERY OF OXYGEN AND OXYGEN TANKS. THE COMPANY SUPPLIES TO NEW YORK CITY METROPOLITAN HOSPITALS, CLINICS, AND NURSING HOMES. GAF PROVIDED A LOAN OF $660,000 TO REFINANCE USURY DEBT AND PROVIDE THE COMPANY WITH PERMANENT WORKING CAPITAL TO FUND ITS GROWING INVENTORY.Desc
Total Program Service Expenses$3,636,260TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related InvstYes (1)ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members8GoverningBodyVotingMembersCnt
Independent Voting Member1IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1DANIEL CHOIBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2126821106PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1325 GOLD STREET SUITE 501AddressLine1Txt
CityBROOKLYNCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11201ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtOfficerOfficerInd
PATRICIA THOMSON
BOARD MEMBER0.25Yes (X)$0$0$0
RAQUEL FAVELA
BOARD MEMBER1.00Yes (X)$0$268,909$36,64649.00
KEVIN GREMSE
BOARD MEMBER1.00Yes (X)$0$231,392$80,23449.00
JOHN PALYO
PRESIDENT36.50Yes (X)$0$254,723$74,75313.50Yes (X)
CHUCK DEPEW
BOARD MEMBER1.00Yes (X)$0$240,629$73,01949.00
STEPHANIE DUGAN
MEMBER AND SECRETARY6.00Yes (X)$0$232,429$70,69744.00Yes (X)
DANIEL MARSH III
CHAIRMAN2.75Yes (X)$0$305,082$173,26152.25Yes (X)
ADAM ENNIS
MEMBER AND TREASURER3.00$0$235,830$74,80947.00Yes (X)
DANIEL CHOI
CFO25.00$0$154,475$65,36925.00Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$1,923,469TotReportableCompRltdOrgAmt
Total Other Compensation$648,788TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
COHNREZNICK LLP
1301 AVENUE OF THE AMERICASNEW YORKNY10019AUDITING$134,400
SHALLO GALLUSCIO & BIANCHI CPAS
21 NORTH SEVENTH STREETHUDSONNY12534ACCOUNTING$130,000
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt
Related Organizations$200,000RelatedOrganizationsAmt
All Other Contributions$925,850AllOtherContributionsAmt
Total Contributions$1,125,850TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
INTEREST INCOME523000$3,069,857$3,069,857
LOAN SERVICE FEES523000$419,209$419,209
PREMIUM ON SALE OF LOA523000$322,619$322,619
FEE INCOME523000$17,370$17,370
FieldValueIRS element (for citing)
Total Program Service Revenue$3,829,055TotalProgramServiceRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
MISCELLANEOUS INCOME900099$13,259$13,259
LATE FEES523000$5,122$5,122
FieldValueIRS element (for citing)
Other Revenue Total$18,381OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,973,286TotalRevenueColumnAmt
Related Or Exempt Func Income$3,847,436RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$20,001TotalAmt
Program Services$20,001ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,653,034TotalAmt
Program Services$1,352,099ProgramServicesAmt
Management And General$300,935ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$166,855TotalAmt
Program Services$136,324ProgramServicesAmt
Management And General$30,531ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$283,736TotalAmt
Program Services$231,818ProgramServicesAmt
Management And General$51,918ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$123,778TotalAmt
Program Services$101,129ProgramServicesAmt
Management And General$22,649ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$166,548TotalAmt
Program Services$166,548ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$274,900TotalAmt
Management And General$274,900ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$129,854TotalAmt
Program Services$115,604ProgramServicesAmt
Management And General$14,250ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$46,870TotalAmt
Program Services$39,242ProgramServicesAmt
Management And General$7,628ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$138,703TotalAmt
Program Services$116,130ProgramServicesAmt
Management And General$22,573ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$76,187TotalAmt
Program Services$68,640ProgramServicesAmt
Management And General$7,547ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$800,514TotalAmt
Program Services$800,514ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$6,882TotalAmt
Program Services$6,882ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
EQUIPMENT LEASES AND MA$130,273$120,424$9,849
PROVISION FOR LOAN LOSS$108,676$108,676
PROJECT AND OTHER FEES$102,386$102,386
AMORTIZATION$101,404$101,404

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$107,204TotalAmt
Program Services$48,439ProgramServicesAmt
Management And General$58,765ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$4,437,805TotalAmt
Program Services$3,636,260ProgramServicesAmt
Management And General$801,545ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$446,911BOYAmt
EOY$32,717,914EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$72,164BOYAmt
EOY$62,764EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$45,455,295BOYAmt
EOY$39,512,338EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$445,794BOYAmt
EOY$398,058EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1,291,824BOYAmt
EOY$65,309,641EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$47,711,988BOYAmt
EOY$138,000,715EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$1,252,556BOYAmt
EOY$2,180,845EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$13,901,766BOYAmt
EOY$102,293,385EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$20,581,994BOYAmt
EOY$21,015,332EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$35,736,316BOYAmt
EOY$125,489,562EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$3,109,096BOYAmt
EOY$3,200,621EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$8,866,576BOYAmt
EOY$9,310,532EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$11,975,672BOYAmt
EOY$12,511,153EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$47,711,988BOYAmt
EOY$138,000,715EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$535,481ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,139,172CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,657,359CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,742,203CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$644,968CurrentTaxYearMinus1YearAmt
Current Tax Year$1,125,850CurrentTaxYearAmt
Total$8,309,552TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,608,558CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,831,220CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$3,520,737CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$3,019,575CurrentTaxYearMinus1YearAmt
Current Tax Year$3,829,055CurrentTaxYearAmt
Total$15,809,145TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$4,747,730CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$5,488,579CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$5,262,940CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$3,664,543CurrentTaxYearMinus1YearAmt
Current Tax Year$4,954,905CurrentTaxYearAmt
Total$24,118,697TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Current Tax Year$200,000CurrentTaxYearAmt
Total$200,000TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

FieldValueIRS element (for citing)
Current Tax Year$200,000CurrentTaxYearAmt
Total$200,000TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$23,918,697PublicSupportTotal509Amt

Other Income509 OtherIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$70,235CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$227,610CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$20,759CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$56,579CurrentTaxYearMinus1YearAmt
Current Tax Year$18,381CurrentTaxYearAmt
Total$393,564TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$4,817,965CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$5,716,189CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$5,283,699CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$3,721,122CurrentTaxYearMinus1YearAmt
Current Tax Year$4,973,286CurrentTaxYearAmt
Total$24,512,261TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.97580PublicSupportCY509Pct
Public Support PY5090.98390PublicSupportPY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:FormAndLineReferenceDesc
ExplanationLATE FEES - 2016 AMOUNT: $ 53,427. 2017 AMOUNT: $ 17,996. 2018 AMOUNT: $ 17,976. 2019 AMOUNT: $ 29,592. 2020 AMOUNT: $ 5,122. NYS CORPORATION TAX REFUND - 2016 AMOUNT: $ 16,808. BAD DEBT RECOVERY - 2017 AMOUNT: $ 209,614. MISCELLANEOUS INCOME - 2018 AMOUNT: $ 2,783. 2019 AMOUNT: $ 26,987. 2020 AMOUNT: $ 13,259.ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp

FieldValueIRS element (for citing)
DescPROGRAM LOAN RECEIVABLESDesc
Book Value$39,512,338BookValueAmt
Method ValuationCMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Program Rltd$39,512,338TotalBookValueProgramRltdAmt

Other Assets Org OtherAssetsOrgGrp (5 entries)

DescDescBook ValueBookValueAmt
RESTRICTED DEPOSITS$628,876
ESCROW HELD FOR BORROWERS AND OTHER AMOUNTS DUE FROM BORROWERS$455,653
INTEREST RECEIVABLE$651,394
SERVICE FEE RECEIVABLE$566,036
PPP LOANS RECEIVABLE$63,007,682
FieldValueIRS element (for citing)
Total Book Value Other Assets$65,309,641TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDescAmtAmt
CLIENT INVESTMENT LIABILITIES$11,362,578
DUE TO RELATED ENTITIES$7,352,754
RECOVERABLE GRANT/INHERENT FOUNDATION$1,500,000
SUBORDINATED DEBT$800,000
FieldValueIRS element (for citing)
Total Liability$21,015,332TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$4,215,980TotalRevEtcAuditedFinclStmtAmt
Other Revenue-$757,306OtherRevenueAmt
Revenue Not Reported-$757,306RevenueNotReportedAmt
Revenue Subtotal$4,973,286RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$4,973,286TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$3,680,499TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$3,680,499ExpensesSubtotalAmt
Other Expenses Not Included$757,306OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$757,306ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$4,437,805TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS ALSO EXEMPT FROM STATE AND LOCAL TAXES. 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, 2020 AND 2019. THE ORGANIZATION FILES FORM 990S, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE ("IRS") ANNUALLY.
PART XI, LINE 2D - OTHER ADJUSTMENTS:LOAN EXPENSES -800,514. PROVISION FOR LOAN LOSSES 43,208.
PART XII, LINE 4B - OTHER ADJUSTMENTS:LOAN EXPENSES 800,514. PROVISION FOR LOAN LOSSES -43,208.

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINIRC SectionIRCSectionDescCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxt
THE INNONCENCE PROJECT INC
40 WORTH STREET SUITE 701NEW YORKNY10013320077563501(C)(3)$6,667OPERATING SUPPORT
HOLA OHIO
PO BOX 3066ASHTABULAOH44005832039252501(C)(3)$6,667OPERATING SUPPORT
BOND EDUCATIONAL GROUP
5546 AUTH WAYCAMP SPRINGSMD20746844156572501(C)(3)$6,667OPERATING SUPPORT
FieldValueIRS element (for citing)
Total501c3 Org3Total501c3OrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY REQUIRING THE GRANTEE TO PROVIDE PERIODIC REPORTS THAT DESCRIBE THE USE OF THE GRANT FUNDS.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (1)SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
DANIEL MARSH III
CHAIRMAN$0$298,224$0$0$0$6,858$0$151,420$0$21,841$0$478,343$0$0
JOHN PALYO
PRESIDENT$0$253,647$0$0$0$1,076$0$32,016$0$42,737$0$329,476$0$0
CHUCK DEPEW
BOARD MEMBER$0$238,015$0$0$0$2,614$0$35,182$0$37,837$0$313,648$0$0
KEVIN GREMSE
BOARD MEMBER$0$230,481$0$0$0$911$0$29,136$0$51,098$0$311,626$0$0
ADAM ENNIS
MEMBER AND TREASURER$0$235,415$0$0$0$415$0$25,360$0$49,449$0$310,639$0$0
RAQUEL FAVELA
BOARD MEMBER$0$268,315$0$0$0$594$0$15,714$0$20,932$0$305,555$0$0
STEPHANIE DUGAN
MEMBER AND SECRETARY$0$229,815$0$0$0$2,614$0$34,660$0$36,037$0$303,126$0$0
DANIEL CHOI
CFO$0$154,259$0$0$0$216$0$15,277$0$50,092$0$219,844$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 4BFormAndLineReferenceDesc
ExplanationTHE FOLLOWING INDIVIDUALS PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, NO CONTRIBUTIONS WERE MADE DURING THE YEAR. - DANIEL MARSH IIIExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THE 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 7ATHE 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 11BTHE 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 12CALL 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 19THE DOCUMENTS ARE AVAILABLE BY REQUEST.
FORM 990, PART XII, LINE 2C:THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
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/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Txt
MAIN STREET PROPERTIES NEW YORK LLC
325 GOLD STREET SUITE 501BROOKLYNNY11201273923128REAL ESTATE HOLDING COMPANYNY$0$0GROW AMERICA FUND INC
MAIN STREET PROPERTIES CONNECTICUT LLC
325 GOLD STREET SUITE 501BROOKLYNNY11201433318761REAL ESTATE HOLDING COMPANYNY$0$0GROW AMERICA FUND INC

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtControlled OrganizationControlledOrganizationIndDirect Controlling NADirectControllingNACd
NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION-GROUP RETURN
325 GOLD STREET SUITE 501BROOKLYNNY11201911884698ECON DEV/ASSIST GOV/HOUSINGVA501(C)(3)LINE 10NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC0
NDC SUPPORT I INC
325 GOLD STREET SUITE 501BROOKLYNNY11201134156877SUPPORT NDCNY501(C)(3)LINE 12A, INATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC0
NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION
325 GOLD STREET SUITE 501BROOKLYNNY11201112933129ECON DEV/ASSIST GOV/HOUSINGVA501(C)(3)LINE 10NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC0
KINGSBOROUGH HOUSING DEVELOPMENT FUND COMPANY INC
325 GOLD STREET SUITE 501BROOKLYNNY11201141734500HOUSINGNY501(C)(3)LINE 10NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC0
NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT
325 GOLD STREET SUITE 501BROOKLYNNY11201136532871ASSIST GOVNY501(C)(3)LINE 100N/A
NDC GREEN RENEWABLE ENERGY ENTERPRISE NEXUS
325 GOLD STREET SUITE 501BROOKLYNNY11201273820841ECONOMIC DEVELOPMENTNY501(C)(3)LINE 10NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC0
NDC RESOURCES
325 GOLD STREET SUITE 501BROOKLYNNY11201460674188ECON DEV/HOUSING/ASSIST GOV'TDC501(C)(3)LINE 12A, INATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT INC0

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (13 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdDirect Controlling NADirectControllingNACdDisproportionate AllocationsDisproportionateAllocationsIndGeneral Or Managing PartnerGeneralOrManagingPartnerInd
NDC CORPORATE EQUITY FUND III
325 GOLD STREET SUITE 501BROOKLYNNY11201134071776LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND IV
325 GOLD STREET SUITE 501BROOKLYNNY11201134151268LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND V
325 GOLD STREET SUITE 501BROOKLYNNY11201134195127LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND VI
325 GOLD STREET SUITE 501BROOKLYNNY11201050585420LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND VII
325 GOLD STREET SUITE 501BROOKLYNNY11201203273264LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND VIII
325 GOLD STREET SUITE 501BROOKLYNNY11201261481355LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND IX
325 GOLD STREET SUITE 501BROOKLYNNY11201264226439LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND X
325 GOLD STREET SUITE 501BROOKLYNNY11201454281155LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND XI
325 GOLD STREET SUITE 501BROOKLYNNY11201462764258LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND XII
325 GOLD STREET SUITE 501BROOKLYNNY11201473762588LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND XIII
325 GOLD STREET SUITE 501BROOKLYNNY11201813113490LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND XV
325 GOLD STREET SUITE 501BROOKLYNNY11201831506679LOW INCOME HOUSINGNYN/A00
NDC CORPORATE EQUITY FUND XVII LP
325 GOLD STREET SUITE 501BROOKLYNNY11201851350461LOW INCOME HOUSINGNYN/A00

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdDirect Controlling NADirectControllingNACdEntity TypeEntityTypeTxtControlled OrganizationControlledOrganizationInd
COMMUNITY DEVELOPMENT GROUP HOLT
325 GOLD STREET SUITE 501BROOKLYNNY11201201643188HOUSINGNYN/AC0
COMMUNITY DEVELOPMENT GROUP ILLINOIS INC
325 GOLD STREET SUITE 501BROOKLYNNY11201201644052ECONOMIC DEVELOPMENTNYN/AC0
COMMUNITY DEVELOPMENT GROUP KENTUCKY INC
325 GOLD STREET SUITE 501BROOKLYNNY11201133555220ECONOMIC DEVELOPMENTNYN/AC0
COMMUNITY DEVELOPMENT GROUP RENEWABLE ENERGY
325 GOLD STREET SUITE 501BROOKLYNNY11201262989445ECONOMIC DEVELOPMENTNYN/AC0
COMMUNITY DEVELOPMENT GROUP WALLA WALLA INC
325 GOLD STREET SUITE 501BROOKLYNNY11201133615889ECONOMIC DEVELOPMENTNYN/AC0
COMMUNITY DEVELOPMENT INVESTOR BROOKLYN
325 GOLD STREET SUITE 501BROOKLYNNY11201461534076ECONOMIC DEVELOPMENTNYN/AC0
HOUSING DEVELOPMENT GROUP III
325 GOLD STREET SUITE 501BROOKLYNNY11201203673695HOUSINGNYN/AC0
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (1)PerformOfServicesForOthOrgInd
Perform Of Services By Other OrgYes (1)PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd