INCLUSIVE PROSPERITY CAPITAL INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- INCLUSIVE PROSPERITY CAPITAL INC (EIN 83-0808658)
- Tax period
- 2018-07-01 to 2019-06-30
- Filed
- 2020-05-14
- IRS object ID
- 202041359349301004
- Schema version
- 2018v3.1
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-05-14T07:30:09-05:00 | ReturnTs |
| Tax Period End | 2019-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 061009205 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BLUM SHAPIRO & COMPANY PC CPA'S | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 29 S MAIN STREET PO BOX 272000 | AddressLine1Txt |
| City | WEST HARTFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 061272000 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 830808658 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INCLUSIVE PROSPERITY CAPITAL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | INCL | BusinessNameControlTxt |
| Phone | 2034335060 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 845 BROOK STREET | AddressLine1Txt |
| City | ROCKY HILL | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06067 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KERRY O'NEILL | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 8602572884 | PhoneNum |
| Signature | 2020-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RONALD W NOSSEK CPA | PreparerPersonNm |
| PTIN | P00009715 | PTIN |
| Phone | 8605614000 | PhoneNum |
| Preparation | 2020-05-13 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 64.251.63.131 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-05-13 | IPDt |
| IP Tm | 11:26:45 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 212D4AA7D86991E97AAA9C7923B382683810470F | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 212D4AA7D86991E97AAA9C7923B382683810470F | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KERRY O'NEILL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 845 BROOK STREET | AddressLine1Txt |
| City | ROCKY HILL | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06067 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,672,454 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.INCLUSIVEPROSPERITYCAPITAL.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2018 | FormationYr |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Activity Or Mission | IPC'S PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROTECT, PROMOTE AND PRESERVE THE NATURAL ENVIRONMENT BY: 1)DEVELOPING AND SUPPORTING PROGRAMS TO FINANCE AND STIMULATE DEMAND FOR CLEAN ENERGY INVESTMENT IN RESIDENTIAL, MUNICIPAL, SMALL BUSINESS AND LARGER COMMERCIAL PROJECTS; 2) PROMOTING THE USE, AVAILABILITY, EFFICACY, AFFORDABILITY AND QUALITY OF CLEAN ENERGY, ENERGY EFFICIENCY, SUSTAINABLE, HEALTHY AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE AND THE SOCIAL AND ECONOMIC BENEFITS DERIVED THEREFROM; 3) EDUCATING THE PUBLIC AND ENVIRONMENTAL, SOCIAL, HEALTH AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE; AND 4) PROMOTING THE REDUCTION OF GREENHOUSE GAS EMISSIONS, PROMOTING AND/OR MITIGATING THE ADVERSE EFFECTS OF CLIMATE CHANGE, AND ACHIEVING OTHER POSITIVE ENVIRONMENTAL IMPACTS, INCLUDING THOSE LEADING TO BETTER HEALTH OUTCOMES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 7 | TotalEmployeeCnt |
| Total Volunteers | 4 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $7,375,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,278,468 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,616 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $16,370 | CYOtherRevenueAmt |
| PY Total Revenue | $0 | PYTotalRevenueAmt |
| CY Total Revenue | $8,672,454 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | 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 | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $894,863 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $89,562 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $0 | PYOtherExpensesAmt |
| CY Other Expenses | $604,781 | CYOtherExpensesAmt |
| PY Total Expenses | $0 | PYTotalExpensesAmt |
| CY Total Expenses | $1,499,644 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,172,810 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $0 | TotalAssetsBOYAmt |
| Total Assets EOY | $7,333,848 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $161,038 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $0 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,172,810 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | IPC'S PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROTECT, PROMOTE AND PRESERVE THE NATURAL ENVIRONMENT BY: 1)DEVELOPING AND SUPPORTING PROGRAMS TO FINANCE AND STIMULATE DEMAND FOR CLEAN ENERGY INVESTMENT IN RESIDENTIAL, MUNICIPAL, SMALL BUSINESS AND LARGER COMMERCIAL PROJECTS; 2) PROMOTING THE USE, AVAILABILITY, EFFICACY, AFFORDABILITY AND QUALITY OF CLEAN ENERGY, ENERGY EFFICIENCY, SUSTAINABLE, HEALTHY AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE AND THE SOCIAL AND ECONOMIC BENEFITS DERIVED THEREFROM; 3) EDUCATING THE PUBLIC AND ENVIRONMENTAL, SOCIAL, HEALTH AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE; AND 4) PROMOTING THE REDUCTION OF GREENHOUSE GAS EMISSIONS, PROMOTING AND/OR MITIGATING THE ADVERSE EFFECTS OF CLIMATE CHANGE, AND ACHIEVING OTHER POSITIVE ENVIRONMENTAL IMPACTS, INCLUDING THOSE LEADING TO BETTER HEALTH OUTCOMES. | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $462,318 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $446,546 | RevenueAmt |
| Desc | LOW TO MODERATE INCOME SINGLE FAMILY LOAN PROGRAM - UNDER THE PROGRAM, IPC STAFF SERVICE LOANS MADE BY THIRD PARTY LENDERS AND ORIGINATES, FUNDS AND SERVICES ITS OWN PORTFOLIO OF LOANS MADE TO ORGANIZATIONS THAT DEVELOP ENERGY PROJECTS DESIGNED TO REDUCE THE ENERGY BURDEN OF LOW AND MODERATE INCOME ("LMI") COMMUNITIES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $234,884 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $364,281 | RevenueAmt |
| Desc | SMART-E LOAN PROGRAM - THE SMART-E LOAN PROGRAM PROVIDES A LOW COST,LONG TERM LOAN OPTION SINGLE FAMILY HOMEOWNERS FOR ENERGY UPGRADES THROUGH A NETWORK OF LOCAL LENDERS THAT ARE GIVEN ACCESS TO A CREDIT ENHANCEMENT (IF REQUIRED) IN EXCHANGE FOR OFFERING THE PRODUCT. THE PROGRAM USES ESTABLISHED PRE-APPROVED CONTRACTORS TO INSTALL THESE ENERGY UPGRADES TO REDUCE THE BUILDING OWNER'S ENERGY BURDEN. IPC MAY EITHER ADMINISTER THIS PROGRAM ON BEHALF OF A PROGRAM SPONSOR OR PROVIDE CERTAIN SERVICES TO A PROGRAM SPONSOR, INCLUDING THE STANDARDIZED PROGRAMMATIC APPROACH, PROTOCOLS, MARKETING AND TECHNOLOGY. CREDIT ENHANCEMENTS TYPICALLY COMPRISE INTEREST RATE BUYDOWNS AND LOAN LOSS RESERVES MAINTAINED BY THE SPONSOR TO SUPPORT LENDER PROGRAM LOANS. IN FISCAL YEAR 2019, IPC ADMINISTERED THIS PROGRAM FOR THE CONNECTICUT GREEN BANK, THE PROGRAM SPONSOR. THE PROGRAM WAS USED TO FINANCE OVER FORTY QUALIFYING ENERGY IMPROVEMENTS AT OWNER-OCCUPIED, 1-4 RESIDENTIAL PROPERTIES IN CONNECTICUT UTILIZING 10 LOCAL LENDERS (COMMUNITY BANKS AND CREDIT UNIONS) AND A NETWORK OF OVER 350 ELIGIBLE CONTRACTORS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $180,790 | ExpenseAmt |
| Revenue | $311,328 | RevenueAmt |
| Desc | MULTIFAMILY AND NON PROFIT LOAN PROGRAM - THIS PROGRAM PROVIDES FINANCING, CREDIT ENHANCEMENTS, AND TECHNICAL ASSISTANCE FOR LOANS AND GRANTS MADE TO OWNERS OF MULTIFAMILY BUILDINGS FOR ENERGY UPGRADES. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $188,581 | ExpenseAmt |
| Revenue | $156,313 | RevenueAmt |
| Desc | COMMERCIAL SOCIAL PPA & MIDWEST GREEN BANKCOMMERCIAL SOLAR PPA FUND PROGRAM - THIS PROGRAM OFFERS SOLAR FINANCING INCLUDING POWER PURCHASE AGREEMENTS (PPAS) TO UNDERSERVED COMMERCIAL, INDUSTRIAL AND INSTITUTIONAL BUILDING OWNERS TO MAXIMIZE PROJECTED SAVINGS ASSOCIATED WITH SOLAR INSTALLATIONS. MIDWEST GREEN BANK EXPANSION PROGRAM - UTILIZING A GRANT FROM THE MCKNIGHT FOUNDATION, THE PROGRAM SEEKS TO EXPAND CLEAN ENERGY FINANCING PRODUCT OFFERINGS IN THE MIDWEST REGION OF THE UNITED STATES INCLUDING BY EXPLORING THE CREATION OF GREEN BANK IN THE STATE OF MINNESOTA. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $188,581 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $156,313 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $1,066,573 | 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | 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 | 0 | 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 With Officer Ent | Yes (1) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | 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 |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 7 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| 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 |
| 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 | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | 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 | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | 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 | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GEORGE D BELLAS | PersonNm |
| Phone | 2034335060 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 845 BROOK STREET | AddressLine1Txt |
| City | ROCKY HILL | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06067 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| KERRY E O'NEILL | ||||||
| DIRECTOR, SECRETARY & CEO | 40.00 | Yes (X) | Yes (X) | $57,631 | $0 | $19,520 |
| BENJAMIN G HEALY | ||||||
| DIRECTOR & FORMER PRESIDENT | 1.00 | Yes (X) | Yes (X) | $54,468 | $0 | $9,551 |
| ROBERTO HUNTER | ||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |
| DOUGLASS SIMS | ||||||
| DIRECTOR, TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ELIZABETH CRUMB | ||||||
| DIRECTOR, CHAIRPERSON | 1.50 | Yes (X) | $0 | $0 | $0 | |
| CHRISTOPHER P MAGALHAES | ||||||
| CHIEF INVESTMENT OFFICER | 40.00 | Yes (X) | $44,768 | $0 | $5,162 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $156,867 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $34,233 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WEB ASCENDER | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2090 JOLLY ROAD STE 100 | AddressLine1Txt |
| City | OKEMOS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48864 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | SOFTWARE DEVELOPMENT FOR PROGRAM SERVICE | ServicesDesc |
| Compensation | $125,000 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $6,430,000 | GovernmentGrantsAmt |
| All Other Contributions | $945,000 | AllOtherContributionsAmt |
| Total Contributions | $7,375,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOW TO MODERATE INCOME | 900099 | $446,546 | $446,546 |
| SMART-E LOAN PROGRAM | 900099 | $364,281 | $364,281 |
| MULTIFAMILY AND NON PR | 900099 | $311,328 | $311,328 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $156,313 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $156,313 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,278,468 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,616 | TotalRevenueColumnAmt |
| Exclusion | $2,616 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| REIMBURSED OPERATING E | 900099 | $11,370 | $11,370 |
| CONSULTING FEES | 900099 | $5,000 | $5,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $16,370 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,672,454 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,278,468 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $18,986 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $457,910 | TotalAmt |
| Program Services | $294,894 | ProgramServicesAmt |
| Management And General | $122,262 | ManagementAndGeneralAmt |
| Fundraising | $40,754 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $320,810 | TotalAmt |
| Program Services | $206,572 | ProgramServicesAmt |
| Management And General | $85,678 | ManagementAndGeneralAmt |
| Fundraising | $28,560 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,868 | TotalAmt |
| Program Services | $7,643 | ProgramServicesAmt |
| Management And General | $3,169 | ManagementAndGeneralAmt |
| Fundraising | $1,056 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,323 | TotalAmt |
| Program Services | $27,900 | ProgramServicesAmt |
| Management And General | $11,567 | ManagementAndGeneralAmt |
| Fundraising | $3,856 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,952 | TotalAmt |
| Program Services | $39,253 | ProgramServicesAmt |
| Management And General | $16,274 | ManagementAndGeneralAmt |
| Fundraising | $5,425 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,270 | TotalAmt |
| Program Services | $11,066 | ProgramServicesAmt |
| Management And General | $2,204 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,167 | TotalAmt |
| Management And General | $27,167 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,247 | TotalAmt |
| Program Services | $11,247 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,199 | TotalAmt |
| Management And General | $4,905 | ManagementAndGeneralAmt |
| Fundraising | $3,294 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,272 | TotalAmt |
| Management And General | $4,272 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,192 | TotalAmt |
| Program Services | $22,663 | ProgramServicesAmt |
| Management And General | $9,397 | ManagementAndGeneralAmt |
| Fundraising | $3,132 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,172 | TotalAmt |
| Program Services | $2,670 | ProgramServicesAmt |
| Management And General | $4,876 | ManagementAndGeneralAmt |
| Fundraising | $1,626 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,019 | TotalAmt |
| Program Services | $7,296 | ProgramServicesAmt |
| Management And General | $8,864 | ManagementAndGeneralAmt |
| Fundraising | $1,859 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,734 | TotalAmt |
| Management And General | $2,734 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,366 | TotalAmt |
| Management And General | $12,366 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,774 | TotalAmt |
| Management And General | $27,774 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| LOAN PORTFOLIO LOSS RES | $289,923 | $289,923 |
| PROGRAM DEVELOPMENT COS | $96,726 | $96,726 |
| TECHNICAL SUPPORT COSTS | $48,611 | $48,611 |
| PROJECT INSPECTIONS | $109 | $109 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,499,644 | TotalAmt |
| Program Services | $1,066,573 | ProgramServicesAmt |
| Management And General | $343,509 | ManagementAndGeneralAmt |
| Fundraising | $89,562 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $228,357 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,743,372 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $250,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $103,494 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $45,959 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $347,681 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,366 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $335,315 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $3,575,719 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $51,632 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $7,333,848 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $134,648 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $26,390 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $161,038 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $5,017,810 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,155,000 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $7,172,810 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $7,333,848 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $7,172,810 | 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) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $7,375,000 | CurrentTaxYearAmt |
| Total | $7,375,000 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $7,375,000 | CurrentTaxYearAmt |
| Total | $7,375,000 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $501,360 | SubstantialContributorsTotAmt |
| Public Support Total170 | $6,873,640 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $2,616 | CurrentTaxYearAmt |
| Total | $2,616 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $16,371 | CurrentTaxYearAmt |
| Total | $16,371 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $7,393,987 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $1,278,468 | GrossReceiptsRltdActivitiesAmt |
| First5 Years170 | Yes (X) | First5Years170Ind |
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
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,620 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,164 | DepreciationAmt |
| Book Value | $10,456 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $336,061 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,202 | DepreciationAmt |
| Book Value | $324,859 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $335,315 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PARTICIPATION AGREEMENT - SECOND LIEN CREDIT AGREEMENT | Desc |
| Book Value | $3,575,719 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $3,575,719 | TotalBookValueProgramRltdAmt |
| Total Rev Etc Audited Fincl Stmt | $8,782,705 | TotalRevEtcAuditedFinclStmtAmt |
| Donated Services And Use Fclts | $110,251 | DonatedServicesAndUseFcltsAmt |
| Revenue Not Reported | $110,251 | RevenueNotReportedAmt |
| Revenue Subtotal | $8,672,454 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $8,672,454 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,609,895 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $110,251 | DonatedServicesUseFcltsAmt |
| Expenses Not Reported | $110,251 | ExpensesNotReportedAmt |
| Expenses Subtotal | $1,499,644 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,499,644 | TotalExpensesPerForm990Amt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| ROBERTO HUNTER | |||
| MEMBER, BOARD OF DIRECTORS | $1,031,213 | THE ORGANIZATION PROVIDED CONSULTING SERVICES TO ADMINISTER PROGRAMS OF THE CONNECTICUT GREEN BANK (CGB). MR. HUNTER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF INVESTMENT OFFICER OF CGB. | 0 |
| BENJAMIN HEALEY | |||
| MEMBER, BOARD OF DIRECTORS | $4,750,000 | THE ORGANIZATION MADE TWO INVESTMENTS IN THE FORM OF PROMISSORY NOTES BOTH DIRECTLY AND INDIRECTLY IN POSIGEN AND ITS AFFILIATES. AT THE TIME THE INVESTMENTS WERE MADE, MR. HEALEY WAS AN EMPLOYEE OF THE ORGANIZATION. SUBSEQUENT TO THE INVESTMENT BEING MADE, MR. HEALEY BECAME THE EXECUTIVE VICE PRESIDENT, CORPORATE DEVELOPMENT & FINANCE OF POSIGEN. | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 2 | IPC WAS IN STARTUP PHASE IN PRIOR YEAR AND HAS BEGUN OPERATIONS OF PROGRAMS AS LISTED IN THE PROGRAM SERVICE ACCOMPLISHMENTS SECTION ON PAGE 2 OF THE 990. |
| FORM 990, PART VI, SECTION B, LINE 11B | DRAFT 990 IS REVIEWED BY DIRECTOR OF ACCOUNTING AND ADMINISTRATION, FOCUSING ON NUMERICAL DATA. THE 990 IS ALSO REVIEWED BY THE CEO AND CHIEF INVESTMENT OFFICER. AFTER STAFF REVIEW, THE 990 IS REVIEWED BY THE BOD BEFORE FILING. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PROCESS OF DETERMINING THE COMPENSATION FOR THE ORGANIZATION'S CEO AND MANAGEMENT TEAM ALONG WITH THE ORGANIZATION'S OTHER EMPLOYEES IS DONE ANNUALLY IN CONJUNCTION WITH THE PREPARATION OF THE ORGANIZATION'S ANNUAL OPERATING BUDGET. THE PROCESS INCLUDES SETTING MERIT INCREASES FOR EXISTING EMPLOYEES, PROMOTIONS FOR EXISTING EMPLOYEES AND PROPOSED COMPENSATION FOR NEW HIRES AS THE NEED ARISES. THE ORGANIZATION BASIS ITS JOB TITLES, CAREER LADDERS AND COMPENSATION RANGES FOR JOB TITLES BASED ON A STUDY CONDUCTED BY AN INDEPENDENT CONSULTING FIRM. THE ORGANIZATION'S BOARD REVIEWS THE PROPOSED COMPENSATION FOR THE UPCOMING YEAR AND VOTES TO ADOPT TO PROPOSED COMPENSATION WHICH IS MEMORIALIZED IN THE MINUTES TO THE BOARD MEETING. |
| FORM 990, PART VI, SECTION C, LINE 19 | THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |