Loading organization details...
Loading organization details...
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$5.2M
Program Spending
80%
of total expenses go to program services
Total Contributions
$3.7M
Total Expenses
▼$5M
Total Assets
$21.4M
Total Liabilities
▼$11.8M
Net Assets
$9.6M
Officer Compensation
→$1M
Other Salaries
$1.8M
Investment Income
$154.9K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$12.5M
Awards Found
20
Department of the Treasury
$4.1M
PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of the Treasury
$1.3M
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Small Business Administration
$176.8K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$166.6K
TMC DEVELOPMENT WORKING SOLUTIONS - CA FY 19 MICROLOAN AWARD
Small Business Administration
$89.2K
WORKING SOLUTIONS IS THE FIRST TO BELIEVE IN START-UP AND EARLY-STAGE BUSINESSES PROVIDING DIVERSE ENTREPRENEURS WITH AFFORDABLE CAPITAL, CUSTOMIZED BUSINESS CONSULTING, AND COMMUNITY CONNECTIONS TO INCREASE ECONOMIC OPPORTUNITY IN THE SAN FRANCISCO BAY AREA. WORKING SOLUTIONS WILL PROVIDE PRE- AND POST-LOAN TA IN NINE COUNTIES TO 500 SMALL BUSINESS OWNERS 65% OF WHOM ARE LOW-INCOME, WITH A
Small Business Administration
$65.5K
TMC DEVELOPMENT WORKING SOLUTIONS, CA THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$61.8K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE GRANT
Small Business Administration
$39.7K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$30.2K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
10
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $4.9M | Yes | 2026-02-25 |
| 2024 | Clean | Unmodified (Clean) | $5.8M | Yes | 2025-02-24 |
| 2023 | Clean | Unmodified (Clean) | $4.9M | Yes | 2024-02-22 |
| 2022 | Clean | Unmodified (Clean) | $4M | Yes | 2023-02-20 |
| 2021 | Clean | Unmodified (Clean) | $2.3M | Yes | 2022-02-17 |
| 2020 | Clean | Unmodified (Clean) | $2.1M | Yes | 2021-02-22 |
| 2019 | Clean | Unmodified (Clean) | $1.4M | No | 2020-02-17 |
| 2018 | Clean | Unmodified (Clean) | $1.6M | No | 2019-02-03 |
| 2017 | Clean | Unmodified (Clean) | $1.9M | No | 2018-01-22 |
| 2016 | Clean | Unmodified (Clean) | $2.2M | Yes | 2017-04-30 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.2M
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: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $5.2M | $3.7M | $5M | $21.4M | $9.6M |
| 2022 | $2.7M | $1.5M | $3.9M | $16.3M | $7.3M |
| 2021 | $7.4M | $5.6M | $3.5M | $16.9M | $8.5M |
| 2020 | $3.5M | $2.1M | $3.4M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Gasper Magallanes | Chief Financial Officer | 40 | $170.3K | $0 | $34.7K | $205K |
| Sara Razavi | Chief Executive Officer | 40 | $178.5K | $0 | $9,261 | $187.7K |
| Marci Rosenfeld | Chair Thru 1/2024 / Dir Start 1/2024 | 1 | $0 | $0 | $0 | $0 |
| Paloma Vidgen | Chair Start 1/2024 | 1 | $0 | $0 | $0 | $0 |
| Olivia Rebanal | Vice Chair | 1 | $0 | $0 | $0 | $0 |
| Christina Travers | Treasurer | 1 | $0 | $0 | $0 | $0 |
| Mindy Christensen | Secretary | 1 | $0 | $0 | $0 | $0 |
Gasper Magallanes
Chief Financial Officer
$205K
Hrs/Wk
40
Compensation
$170.3K
Related Orgs
$0
Other
$34.7K
Sara Razavi
Chief Executive Officer
$187.7K
Hrs/Wk
40
Compensation
$178.5K
Related Orgs
$0
Other
$9,261
Marci Rosenfeld
Chair Thru 1/2024 / Dir Start 1/2024
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Paloma Vidgen
Chair Start 1/2024
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Olivia Rebanal
Vice Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Christina Travers
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mindy Christensen
Secretary
$0
Hrs/Wk
1
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 |
|---|---|---|---|---|---|---|
| Laura Hoover | Chief Development Officer | 40 | $168.1K | $0 | $37.9K | $206K |
| John Palyo | Chief Lending Officer Through 7/2024 | 40 | $159.7K | $0 | $32.5K | $192.1K |
| Titilope Ikhile | Chief Program Officer | 40 | $152.9K | $0 | $32.1K | $185K |
| Debra Steineman | Senior Accounting Manager | 40 | $121.8K | $0 | $22.7K | $144.5K |
| Priscilla Woo | Director Of Lending | 40 | $112.2K | $0 | $21.1K | $133.3K |
Laura Hoover
Chief Development Officer
$206K
Hrs/Wk
40
Compensation
$168.1K
Related Orgs
$0
Other
$37.9K
John Palyo
Chief Lending Officer Through 7/2024
$192.1K
Hrs/Wk
40
Compensation
$159.7K
Related Orgs
$0
Other
$32.5K
Titilope Ikhile
Chief Program Officer
$185K
Hrs/Wk
40
Compensation
$152.9K
Related Orgs
$0
Other
$32.1K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Brian Nagendra | Board Member | 1 | $0 | $0 | $0 | $0 |
| Emily Gasner | Board Member | 1 | $0 | $0 | $0 | $0 |
| Haseeb Chaudhry | Board Member | 1 | $0 | $0 | $0 | $0 |
| Lena Robinson | Board Member | 1 | $0 | $0 | $0 | $0 |
| Marisa Calderon | Board Member Start 1/2024 | 1 | $0 | $0 | $0 | $0 |
| Purvi Patel | Board Member Through 8/2024 |
Brian Nagendra
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Emily Gasner
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Haseeb Chaudhry
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $12.8M |
| $4.7M |
| 2019 | $2.8M | $1.7M | $2.7M | $12.6M | $4.6M |
| 2018 | $2.2M | $1.2M | $2.1M | $11.1M | $4.5M |
| 2017 | $2.7M | $1.7M | $2.4M | $9.1M | $4.4M |
| 2016 | $2.7M | $2.1M | $1.8M | $8.1M | $4.4M |
| 2015 | $1.9M | $1.5M | $1.4M | $5.8M | $4.7M |
| 2014 | $1.9M | $1.7M | $1.4M | $5.3M | $4.2M |
| 2013 | $1.8M | $1.6M | $816.7K | $4.7M | $3.6M |
| 2012 | $848.7K | $737.9K | $660.5K | $3.3M | $2.6M |
| 2011 | $2.1M | $2M | $528.1K | $3.3M | $2.4M |
| 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 |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| Natalya Blumenfeld |
| Impact Manager |
| 40 |
| $103.5K |
| $0 |
| $16K |
| $119.5K |
| Lynnda Mori | Business Consulting Manager | 40 | $110.2K | $0 | $5,703 | $115.9K |
| Christian Knight | Portfolio Manager | 40 | $107.5K | $0 | $4,094 | $111.6K |
Debra Steineman
Senior Accounting Manager
$144.5K
Hrs/Wk
40
Compensation
$121.8K
Related Orgs
$0
Other
$22.7K
Priscilla Woo
Director Of Lending
$133.3K
Hrs/Wk
40
Compensation
$112.2K
Related Orgs
$0
Other
$21.1K
Natalya Blumenfeld
Impact Manager
$119.5K
Hrs/Wk
40
Compensation
$103.5K
Related Orgs
$0
Other
$16K
Lynnda Mori
Business Consulting Manager
$115.9K
Hrs/Wk
40
Compensation
$110.2K
Related Orgs
$0
Other
$5,703
Christian Knight
Portfolio Manager
$111.6K
Hrs/Wk
40
Compensation
$107.5K
Related Orgs
$0
Other
$4,094
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Tate Hill | Board Member Start 1/2024 | 1 | $0 | $0 | $0 | $0 |
| Will Jackson | Board Member Start 1/2024 | 1 | $0 | $0 | $0 | $0 |
Lena Robinson
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Marisa Calderon
Board Member Start 1/2024
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Purvi Patel
Board Member Through 8/2024
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Tate Hill
Board Member Start 1/2024
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Will Jackson
Board Member Start 1/2024
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0