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THE CORPORATION'S SPECIFIC PURPOSE IS TO ASSIST IN CARRYING OUT THE ECONOMIC DEVELOPMENT PROGRAMS AND OBJECTIVES OF THE CITY. IT WILL PROMOTE THE DEVELOPMENT, ESTABLISHMENT OR EXPANSION OF INDUSTRIES AND COMMERCE IN LOW-INCOME AREAS BY GENERATING PRIVATE INVESTMENT CAPITAL THROUGH THE NEW MARKETS TAX CREDIT ("NMTC") PROGRAM. THE CORPORATION WILL MAKE LOANS AVAILABLE FOR INVESTMENT IN "LOW-INCOME COMMUNITIES OR "LOW-INCOME PERSONS" (AS DEFINED IN THE LAW AND REGULATIONS GOVERNING THE NMTC PROGRAM). THE PRIMARY MISSION OF THE CORPORATION IS TO SERVE LOW-INCOME COMMUNITIES OR LOW-INCOME PERSONS BY PROVIDING INVESTMENT CAPITAL. THE ORGANIZATIONS'S ACTIVITES WILL TARGET ECONOMICALLY DISTRESSED COMMUNITIES WITHIN THE CITY.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$1.7M
Program Spending
63%
of total expenses go to program services
Total Contributions
$0
Total Expenses
▼$1.2M
Total Assets
$4.9M
Total Liabilities
▼$441.2K
Net Assets
$4.4M
Officer Compensation
→N/A
Other Salaries
N/A
Investment Income
$36.3K
Fundraising
▼N/A
Source: USAspending.gov
No federal awards found for this organization.
USAspending.gov tracks federal grants, cooperative agreements, and other financial assistance. Not all nonprofits receive federal funding.
Source: Federal Audit Clearinghouse (fac.gov)
No federal single audit records found for this organization.
Single audits are required for entities expending $750,000+ in federal awards annually.
Tax Year 2024 · 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: SO
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $1.7M | $0 | $1.2M | $4.9M | $4.4M |
| 2022 | $426.9K | $0 | $412.5K | $3.3M | $3M |
| 2021 | $1.7M | $0 | $1.2M | $3.3M | $3M |
| 2020 | $2M | $0 | $1.3M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Brian Strong | President | 1.5 | $0 | $0 | $0 | $0 |
| Joaquin Torres | Vice President | 1 | $0 | $0 | $0 | $0 |
| Carmen Chu | Secretary | 1 | $0 | $0 | $0 | $0 |
| Naveena Bobba | Treasurer | 1.5 | $0 | $0 | $0 | $0 |
Brian Strong
President
$0
Hrs/Wk
1.5
Compensation
$0
Related Orgs
$0
Other
$0
Joaquin Torres
Vice President
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Carmen Chu
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Naveena Bobba
Treasurer
$0
Hrs/Wk
1.5
Compensation
$0
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 |
|---|---|---|---|---|---|---|
| Tom Decaigny | Board Member | 1 | $0 | $0 | $0 | $0 |
Tom Decaigny
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $2.9M |
| $2.6M |
| 2019 | $1.1M | $0 | $781.8K | $2.1M | $1.9M |
| 2018 | $1.7M | $0 | $1.1M | $2.4M | $1.5M |
| 2017 | $400K | $0 | $357.2K | $1M | $883.8K |
| 2016 | $400K | $0 | $1.4M | $1.4M | $841K |
| 2015 | $400K | $0 | $357.7K | $1.9M | $1.8M |
| 2014 | $1M | $0 | $303.4K | $1.9M | $1.8M |
| 2013 | $813.5K | $0 | $195.7K | $1.3M | $1M |
| 2012 | $71.8K | $0 | $149.6K | $501.5K | $389.4K |
| 2011 | $583.7K | $0 | $103.2K | $517.3K | $467.3K |
| 2021 | 990 | Data |
| 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 |
| 2011 | 990 | Data |
| 2010 | 990-EZ | — |