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Job creation, attracting & retaining businesses and other economic development activities by providing grants and below-market rate loan programs through Urban Enterprise
Source: IRS Form 990 (Tax Year 2023)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2022
Total Revenue
▼$2.1M
Program Spending
83%
of total expenses go to program services
Total Contributions
$1.3M
Total Expenses
▼$2.3M
Total Assets
$20.2M
Total Liabilities
▼$5.2M
Net Assets
$15M
Officer Compensation
→N/A
Other Salaries
$1.1M
Investment Income
$232K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$850K
Awards Found
1
Department of Housing and Urban Development
$850K
PURPOSE: ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING/CONGRESSIONAL DIRECTED SPENDING AWARDS ARE AUTHORIZED UNDER THE CONSOLIDATED APPROPRIATIONS ACT, 2022 PUBLIC LAW 117-328 AND THE EXPLANATORY STATEMENT FOR DIVISION L OF THAT ACT. PROJECTS SELECTED FOR COMMUNITY PROJECT FUNDING/CONGRESSIONAL DIRECTED SPENDING ARE LISTED IN THE JOINT EXPLANATORY STATEMENT (JES) THAT ACCOMPANIES A SPECIFIC FISCAL YEAR’S APPROPRIATIONS ACT OR CONGRESSIONAL RECORD. THE JES LISTS PROJECT, RECIPIENT, STATE, AMOUNT AND CONGRESSIONAL SPONSOR.; ACTIVITIES TO BE PERFORMED: ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING/CONGRESSIONALLY DIRECTED SPENDING AWARD PROJECTS INCLUDE A WIDE VARIETY OF ACTIVITIES THAT RESULT IN ECONOMIC DEVELOPMENT OR COMMUNITY DEVELOPMENT OUTCOMES. HUD WILL NOT KNOW THE FULL SCOPE OF THE PROJECT UNTIL THE RECIPIENT SUBMITS THE REQUIRED PROJECT NARRATIVE AND CONFIRMS ALIGNMENT WITH THE LANGUAGE AS PROVIDED IN THE CONGRESSIONAL RECORD. TO FIND THE DETAILS OF THE GRANT AWARD AS WRITTEN WITHIN THE CONGRESSIONAL RECORD USE THE FOLLOWING LINK AND PATH SELECTIONS TO GET TO THE DESCRIPTION OF THE ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING GRANTS HTTPS://WWW.HUD.GOV/PROGRAM_OFFICES/COMM_PLANNING/EDI-GRANTS, SELECT THE FISCAL YEAR OF INTEREST, SCROLL DOWN TO PROGRAM LAWS AND REGULATIONS, UNDER FISCAL YEAR 20XX CONSOLIDATED APPROPRIATIONS ACT, 20XX: CONGRESSIONAL RECORD (JOINT EXPLANATORY STATEMENT).; EXPECTED OUTCOMES: COMPLETION OF THE PROJECT AS DESCRIBED IN THE JOINT EXPLANATORY STATEMENT (JES) PROJECT DESCRIPTION AND SUBSEQUENT APPROVED PROJECT NARRATIVE.; INTENDED BENEFICIARIES: THE PROJECT BENEFICIARIES ARE THE INDIVIDUALS AND/OR ORGANIZATIONS THAT ARE AWARDED GRANT FUNDS OR SERVED BY THE ENTITIES THAT ARE AWARDED GRANT FUNDS AS IDENTIFIED IN THE JES RECIPIENT OR PROJECT DESCRIPTION SECTIONS.; SUBRECIPIENT ACTIVITIES: THE SUBRECIPIENT ACTIVITIES ARE UNKNOWN AT THE TIME OF AWARD.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
1
Clean Audits
1
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2021 | Clean | Unmodified (Clean) | $2.4M | No | 2023-06-19 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Tax Year 2022 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023 | $2.1M | $1.3M | $2.3M | $20.2M | $15M |
| 2022IRS e-File | $2.1M | $1.3M | $2.3M | $20.2M | $15M |
| 2021 | $6M | $5.2M | $6.4M | $19.9M | $16.2M |
| 2020 | $2M | $1.4M | $1.7M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2022)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2022)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Angel Cabrera | Secretary | 2 | $0 | $0 | $0 | $0 |
| Gregory Waga | Chairman | 2 | $0 | $0 | $0 | $0 |
| Marty Borruso | Vice Chairperson | 2 | $0 | $0 | $0 | $0 |
| Julio Sabater | Treasurer | 2 | $0 | $0 | $0 | $0 |
Angel Cabrera
Secretary
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Gregory Waga
Chairman
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Marty Borruso
Vice Chairperson
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Julio Sabater
Treasurer
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| William O'Dea | Executive Director | 35 | $142.5K | $0 | $0 | $142.5K |
| Brenda Mcrae | Deputy Exec Dir Finance And Admin | 35 | $120.9K | $0 | $0 | $120.9K |
| Edgar Lopez | Dir Of Neighborhood Revitalization | 35 | $102.2K | $0 | $0 | $102.2K |
| Daniel Devanney | Dir Uez & Financial Programs | 35 | $93.6K | $0 | $0 | $93.6K |
William O'Dea
Executive Director
$142.5K
Hrs/Wk
35
Compensation
$142.5K
Related Orgs
$0
Other
$0
Brenda Mcrae
Deputy Exec Dir Finance And Admin
$120.9K
Hrs/Wk
35
Compensation
$120.9K
Related Orgs
$0
Other
$0
Edgar Lopez
Dir Of Neighborhood Revitalization
$102.2K
Hrs/Wk
35
Compensation
$102.2K
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Amy Wagner | Member | 2 | $0 | $0 | $0 | $0 |
| Ana Liranzo | Member | 2 | $0 | $0 | $0 | $0 |
| Bridget Anderson | Member | 2 | $0 | $0 | $0 | $0 |
| David Gibbons | Member | 2 | $0 | $0 | $0 | $0 |
| Dr Margaret Mcmenamin | Member | 2 | $0 | $0 | $0 | $0 |
| Jennifer Costa | Member | 2 |
Amy Wagner
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ana Liranzo
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Bridget Anderson
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
| $20.5M |
| $16.7M |
| 2019 | $2.9M | $1.8M | $3M | $20.8M | $17.1M |
| 2018 | $6.1M | $955.6K | $2.8M | $20.5M | $17.2M |
| 2017 | $3.5M | $2M | $3.6M | $24.7M | $14M |
| 2016 | $3.4M | $1.9M | $3.4M | $24.9M | $14M |
| 2015 | $6.2M | $4.4M | $6.4M | $25.2M | $14M |
| 2014 | $4.7M | $2.5M | $5.1M | $23.2M | $14.2M |
| 2013 | $4M | $1.5M | $3.8M | $23.6M | $14.5M |
| 2012 | $5M | $2M | $5.3M | $24.3M | $14.3M |
| 2021 | 990 | Data | PDF not yet published by IRS |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
Daniel Devanney
Dir Uez & Financial Programs
$93.6K
Hrs/Wk
35
Compensation
$93.6K
Related Orgs
$0
Other
$0
| $0 |
| $0 |
| $0 |
| $0 |
| Kate Kerpchar | Member | 2 | $0 | $0 | $0 | $0 |
| Laura Ciraco | Member | 2 | $0 | $0 | $0 | $0 |
| Marcy Metz | Immediate Past President | 2 | $0 | $0 | $0 | $0 |
| Mary Arias | Member | 2 | $0 | $0 | $0 | $0 |
| Matt Beyerstedt | Member | 2 | $0 | $0 | $0 | $0 |
| Theresa Pereira | Member | 2 | $0 | $0 | $0 | $0 |
David Gibbons
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Dr Margaret Mcmenamin
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Jennifer Costa
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Kate Kerpchar
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Laura Ciraco
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Marcy Metz
Immediate Past President
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mary Arias
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Matt Beyerstedt
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Theresa Pereira
Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0