IRCS CENTER FOR ECONOMIC OPPORTUNITY INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- IRCS CENTER FOR ECONOMIC OPPORTUNITY INC (EIN 45-3686069)
- Tax period
- 2021-10-01 to 2022-09-30
- Filed
- 2023-08-15
- IRS object ID
- 202342279349301734
- Schema version
- 2021v4.2
- 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 | 2023-08-15T11:26:43-05:00 | ReturnTs |
| Tax Period End | 2022-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 873231666 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKF O'CONNOR DAVIES ADVISORY LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 245 PARK AVENUE 12TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10167 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453686069 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IRC'S CENTER FOR ECONOMIC OPPORTUNITY | BusinessNameLine1Txt |
| Business Name Line2 | INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | IRCS | BusinessNameControlTxt |
| Phone | 6196634186 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 152188 | AddressLine1Txt |
| City | SAN DIEGO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92195 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ELLEN BEATTIE | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 6196634186 | PhoneNum |
| Signature | 2023-08-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | ELLEN | PersonFirstNm |
| Person Last | BEATTIE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | GARRETT M HIGGINS | PreparerPersonNm |
| PTIN | P00543209 | PTIN |
| Phone | 2122862600 | PhoneNum |
| Preparation | 2023-08-15 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KASRA MOVAHEDI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 152188 | AddressLine1Txt |
| City | SAN DIEGO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92195 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,658,628 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HTTPS://WWW.IRC-CEO.ORG/ | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2011 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE SMALL BUSINESS LOANS AND MICROFINANCING TO VICTIMS OF OPPRESSION AND PERSECUTION WITHOUT REGARD TO THE RACE, NATIONALITY OR RELIGION OF THE BENEFICIARIES; TO RECEIVE, MANAGE, SELL, EXCHANGE, INVEST AND REINVEST THE FUNDS TRANSFERRED TO THE CORPORATION, AND TO APPLY THE INCOME AND PRINCIPAL TO THE ESTABLISHMENT AND SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 4 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 2 | VotingMembersIndependentCnt |
| Total Employee | 7 | TotalEmployeeCnt |
| Total Volunteers | 23 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,432,655 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,228,956 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $304,992 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $412,351 | CYProgramServiceRevenueAmt |
| PY Investment Income | $169 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,170 | CYInvestmentIncomeAmt |
| PY Other Revenue | $28,711 | PYOtherRevenueAmt |
| CY Other Revenue | $14,151 | CYOtherRevenueAmt |
| PY Total Revenue | $2,766,527 | PYTotalRevenueAmt |
| CY Total Revenue | $5,658,628 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $255,745 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $435,100 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $546,430 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $798,892 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $118,019 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $421,599 | PYOtherExpensesAmt |
| CY Other Expenses | $1,361,098 | CYOtherExpensesAmt |
| PY Total Expenses | $1,223,774 | PYTotalExpensesAmt |
| CY Total Expenses | $2,595,090 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,542,753 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,063,538 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $7,099,311 | TotalAssetsBOYAmt |
| Total Assets EOY | $12,149,016 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,269,947 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,256,114 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,829,364 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,892,902 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROVIDE SMALL BUSINESS LOANS AND MICROFINANCING TO VICTIMS OF OPPRESSION AND PERSECUTION WITHOUT REGARD TO THE RACE, NATIONALITY OR RELIGION OF THE BENEFICIARIES; TO RECEIVE, MANAGE, SELL, EXCHANGE, INVEST AND REINVEST THE FUNDS TRANSFERRED TO THE CORPORATION, AND TO APPLY THE INCOME AND PRINCIPAL TO THE ESTABLISHMENT AND SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $2,272,634 | ExpenseAmt |
| Grant | $435,100 | GrantAmt |
| Revenue | $412,351 | RevenueAmt |
| Desc | CEO SEEKS TO RESPONSIBLY DEPLOY CAPITAL TO UNDERSERVED, CREDIT-THIN REFUGEE AND IMMIGRANT COMMUNITIES THROUGH TRUSTED COMMUNITY PARTNERS THAT ALSO OFFER CREDIT EDUCATION AND RELATED ASSET-BUILDING SERVICES. IN FISCAL YEAR 2022, CEO REALIZED SIGNIFICANT GROWTH IN EVERY FACET OF OUR OPERATION - INCLUDING ACROSS ALL PRODUCTS AND LINES OF BUSINESS.IN FY2022, WE REACHED MORE REFUGEES AND IMMIGRANTS THROUGH MORE PARTNERS THAN IN ANY PRIOR YEAR SINCE INCEPTION. FROM OCTOBER 2021 SEPTEMBER 2022, CEO CLOSED OVER 1,400 LOANS TOTALING MORE THAN $7MM FINANCED AND REPRESENTING A 272% YEAR-OVER-YEAR GROWTH. 94% OF BORROWERS WERE LOW-INCOME BASED ON HUD AMFI AND 75% HAD "BAD OR NO" FICO SCORE AT THE TIME OF APPLICATION. 85% OF DOLLARS FINANCED WENT TO REFUGEE BORROWERS, WITH OVER 50% OF BORROWERS IN THE U.S. LESS THAN TWO YEARS. BORROWERS ARRIVED FROM OVER 68 UNIQUE COUNTRIES OF ORIGIN. DESPITE MAKING LOANS TO LOW-INCOME BORROWERS CLASSIFIED AS 'DEEP SUBPRIME' BY THE CREDIT SYSTEM, CEO HAS MAINTAINED A 97.5% HISTORICAL REPAYMENT RATE SINCE INCEPTION.THE INCREASES IN LOAN VOLUME WERE A RESULT OF SUCCESSES IN THREE KEY AREAS A) SUSTAINING & GROWING PARTNERSHIPS B) KEY TECHNOLOGY ENHANCEMENTS THAT REMOVED PRIOR BOTTLENECKS AND C) THE LAUNCH OF AN EMERGENCY RESPONSE PROGRAMMING TO SUPPORT THE INFLUX OF AFGHAN EVACUEES UNDER OPERATION: ALLIES WELCOME.A) SUSTAINED, ORGANIC GROWTH THROUGH PARTNERSHIP MODEL: BY THE END OF FY22, CEO'S LOANS WERE ACCESSIBLE THROUGH 28 COMMUNITY ACCESS POINTS ACROSS 16 STATES. ALL OF CEO'S COMMUNITY PARTNERS FROM PRIOR TO FY2022 HAVE MAINTAINED THEIR ENGAGEMENT WITH CEO WHILE WE'VE CONTINUED TO ON-BOARD NEW PARTNERS. MOST PARTNERS SPECIALIZE IN SERVING REFUGEES AND IMMIGRANTS AND ALL PROVIDE CREDIT EDUCATION AND RELATED ECONOMIC DEVELOPMENT SERVICES IN TANDEM WITH CEO'S LOANS AND OFFER SUPPORT TO CLIENTS THAT MAY FACE TURBULENCE IN REPAYMENT.B) EFFICIENCY & CAPACITY IMPROVEMENT THROUGH TECHNOLOGY INVESTMENTS: IN FY2022, CEO WENT LIVE WITH A NEW LENDING PLATFORM AND RELATED TECHNOLOGY THAT HAS BROUGHT SIGNIFICANT BENEFITS TO OUR BORROWERS, PARTNERS AND OUR OWN ADMIN AND OPERATIONS. INVESTMENTS IN CUSTOMER RELATIONSHIP MANAGEMENT SOFTWARE AND ONLINE FIN-TECH INTEGRATIONS CREATED SIGNIFICANT EFFICIENCIES AND WERE INSTRUMENTAL IN ALLOWING THE ORGANIZATION TO HANDLE OVER 200% THE VOLUME VS THE PRIOR YEAR.C) EMERGENCY RESPONSE FOR AFGHAN EVACUEES: IN RESPONSE TO THE HISTORIC EVACUATION OF OVER 85,000 AFGHANS UNDER OPERATION ALLIES WELCOME, CEO DESIGNED AND LED AN INITIATIVE TO LAUNCH THE SUPPORT FOR AFGHAN FINANCIAL EMPOWERMENT (SAFE) PROGRAM IN PARTNERSHIP WITH ITS PARENT, THE IRC. THROUGH SAFE, AFGHAN EVACUEES ACCESSED ONLINE CREDIT EDUCATION AND REMOTE 1:1 MEETINGS WITH TRAINED AFGHAN FINANCIAL COACHES. CEO ALSO ESTABLISHED THE SAFE FUND - A POOL OF DOLLARS EXCLUSIVELY USED FOR ISSUING 0% APR AUTO, PERSONAL AND CREDIT-BUILDING LOANS TO AFGHAN EVACUEES. BY JULY 0F 2022, CEO HAD RAISED AND DEPLOYED OVER $4MM OF LOANS AT 0% APR TO HELP NEWLY ARRIVED AFGHAN EVACUEES MORE QUICKLY ESTABLISH A STABLE FINANCIAL FOOTHOLD IN THE U.S. WHILE 0% CAPITAL IS NO LONGER AVAILABLE, THE SAFE PROGRAM CONTINUES AS A COLLABORATION BETWEEN IRC AND CEO AND REPRESENTS A NEW MODEL FOR LINKING NEWCOMERS TO CREDIT EDUCATION AND LOANS EVEN IN THE ABSENCE OF PHYSICAL LOCAL PARTNER PRESENCE. | Desc |
| Total Program Service Expenses | $2,272,634 | 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 |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | 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 | Yes (1) | 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 | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | 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 With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| 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 | Yes (1) | 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 | 5 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| 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 |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| 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 | 4 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 2 | 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 | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | 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 | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MD | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NJ | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELLEN BEATTIE TREASURER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2125513000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 122 EAST 42ND STREET 14TH FL | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 101681289 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| HANS VAN DE WEERD | ||||||||
| PRESIDENT | 0.50 | 37.50 | Yes (X) | Yes (X) | $0 | $283,205 | $31,201 | |
| ELLEN BEATTIE | ||||||||
| TREASURER | 0.50 | 37.50 | Yes (X) | Yes (X) | $0 | $142,970 | $35,540 | |
| SEAN CARPENTER | ||||||||
| CHAIRMAN | 0.50 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| RADHA RAJKOTIA | ||||||||
| SECRETARY | 0.50 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| KASRA MOVAHEDI | ||||||||
| EXECUTIVE DIRECTOR | 37.50 | 0.00 | Yes (X) | $128,064 | $0 | $23,855 | ||
| MARY GRACE NER | ||||||||
| DEPUTY DIR., FINANCE & ADMIN. | 37.50 | 0.00 | Yes (X) | $78,204 | $0 | $25,208 | ||
| JENNIFER SIME | ||||||||
| FORMER TREASURER | 0.00 | 37.50 | $0 | $289,820 | $42,104 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $206,268 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $715,995 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $157,908 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $2,100,000 | RelatedOrganizationsAmt |
| Government Grants | $950,000 | GovernmentGrantsAmt |
| All Other Contributions | $2,178,956 | AllOtherContributionsAmt |
| Noncash Contributions | $15,000 | NoncashContributionsAmt |
| Total Contributions | $5,228,956 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST INCOME | 522291 | $209,707 | $209,707 |
| LOAN ASSISTANCE | 522291 | $202,644 | $202,644 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $412,351 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,170 | TotalRevenueColumnAmt |
| Exclusion | $3,170 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| OTHER INCOME | 900099 | $13,251 | $13,251 |
| REIMBURSEMENTS | 900099 | $900 | $900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $14,151 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,658,628 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $412,351 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $17,321 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $429,000 | TotalAmt |
| Program Services | $429,000 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,100 | TotalAmt |
| Program Services | $6,100 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $284,365 | TotalAmt |
| Program Services | $214,875 | ProgramServicesAmt |
| Management And General | $38,914 | ManagementAndGeneralAmt |
| Fundraising | $30,576 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $206,231 | TotalAmt |
| Program Services | $154,673 | ProgramServicesAmt |
| Management And General | $28,872 | ManagementAndGeneralAmt |
| Fundraising | $22,686 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,181 | TotalAmt |
| Program Services | $24,886 | ProgramServicesAmt |
| Management And General | $4,645 | ManagementAndGeneralAmt |
| Fundraising | $3,650 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,512 | TotalAmt |
| Program Services | $75,384 | ProgramServicesAmt |
| Management And General | $14,072 | ManagementAndGeneralAmt |
| Fundraising | $11,056 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $174,603 | TotalAmt |
| Program Services | $130,952 | ProgramServicesAmt |
| Management And General | $24,445 | ManagementAndGeneralAmt |
| Fundraising | $19,206 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,105 | TotalAmt |
| Management And General | $15,105 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,119 | TotalAmt |
| Management And General | $6,119 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,975 | TotalAmt |
| Program Services | $21,975 | ProgramServicesAmt |
| Fundraising | $30,000 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,010 | TotalAmt |
| Management And General | $31,010 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,707 | TotalAmt |
| Program Services | $61,606 | ProgramServicesAmt |
| Management And General | $5,101 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,513 | TotalAmt |
| Management And General | $26,513 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,317 | TotalAmt |
| Program Services | $6,472 | ProgramServicesAmt |
| Fundraising | $845 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,653 | TotalAmt |
| Program Services | $39,653 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,317 | TotalAmt |
| Management And General | $9,317 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| BAD DEBT EXPENSE | $1,105,843 | $1,105,843 | |
| MISC OPERATING EXPENSES | $1,539 | $1,215 | $324 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,595,090 | TotalAmt |
| Program Services | $2,272,634 | ProgramServicesAmt |
| Management And General | $204,437 | ManagementAndGeneralAmt |
| Fundraising | $118,019 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,649,228 | BOYAmt |
| EOY | $3,346,869 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $857,428 | BOYAmt |
| EOY | $859,632 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $135,000 | BOYAmt |
| EOY | $833,728 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,785 | BOYAmt |
| EOY | $1,080 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,404,870 | BOYAmt |
| EOY | $7,077,707 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,000 | BOYAmt |
| EOY | $30,000 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,099,311 | BOYAmt |
| EOY | $12,149,016 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $448,280 | BOYAmt |
| EOY | $234,447 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,821,667 | BOYAmt |
| EOY | $4,021,667 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,269,947 | BOYAmt |
| EOY | $4,256,114 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,319,651 | BOYAmt |
| EOY | $1,662,931 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,509,713 | BOYAmt |
| EOY | $6,229,971 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,829,364 | BOYAmt |
| EOY | $7,892,902 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,099,311 | BOYAmt |
| EOY | $12,149,016 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $3,063,538 | 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 | 0 | 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 Minus4 Years | $440,191 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,454,543 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,746,494 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,432,655 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,228,956 | CurrentTaxYearAmt |
| Total | $11,302,839 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $440,191 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,454,543 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,746,494 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,432,655 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,228,956 | CurrentTaxYearAmt |
| Total | $11,302,839 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $792,096 | SubstantialContributorsTotAmt |
| Public Support Total170 | $10,510,743 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,163 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,447 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $169 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,170 | CurrentTaxYearAmt |
| Total | $13,949 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus2 Years | $4,614 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $28,711 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $14,151 | CurrentTaxYearAmt |
| Total | $47,484 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $11,364,272 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $1,460,343 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.92490 | PublicSupportCY170Pct |
| Public Support PY170 | 0.90820 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | OTHER INCOME - 2017 AMOUNT: $ 8. 2019 AMOUNT: $ 114. 2020 AMOUNT: $ 2,789. 2021 AMOUNT: $ 13,251. REIMBURSEMENTS - 2019 AMOUNT: $ 4,500. 2020 AMOUNT: $ 25,922. 2021 AMOUNT: $ 900. | ExplanationTxt |
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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROGRAM-RELATED LOANS RECEIVABLE | Desc |
| Book Value | $7,077,707 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $7,077,707 | TotalBookValueProgramRltdAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $5,658,628 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $5,658,628 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $5,658,628 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,595,090 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $2,595,090 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $2,595,090 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION IS UNAWARE OF ANY UNCERTAIN TAX POSITIONS AS OF SEPTEMBER 30, 2022 IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| INTERNATIONAL RESCUE COMMITTEE - NEW YORK | ||||||||
| 263 WEST 38TH STREET SUITE 6/F | NEW YORK | NY | 10018 | 135660870 | 501(C)(3) | $405,000 | $0 | TO SUPPORT IRC IN NEW YORK'S ECONOMIC EMPOWERMENT PRGRAMS TO PROVIDE FINANCIAL EDUCATION AND WORKFORCE SERVICES TO COMMUNITIES THROUGHOUT NEW YORK |
| FINEQUITY INC | ||||||||
| 41 SCHERMERHORN STREET SUITE 1002 | BROOKLYN | NY | 11201 | 844391836 | 501(C)(3) | $24,000 | $0 | TO SUPPORT FINEQUITY'S EFFORTS TO PROVIDE CLIENT SUPPORT ON COLLARABORATIVE PROJECT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| EDUCATION AND TRAINING GRANTS | 1 | $5,000 |
| FEC GRANTS | 11 | $1,100 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | GRANT TO IRC: THE ORGANIZATION GAVE CONTRIBUTIONS TO AN ORGANIZATION, INTERNATIONAL RESCUE COMMITTEE ("IRC"). IRC IS A RELATED ORGANIZATION OF IRC'S CENTER FOR ECONOMIC OPPORTUNITY, INC., WHICH IS HOW THE ORGANIZATION WAS SELECTED TO RECEIVE A GRANT. THE ORGANIZATIONS SHARE THE SAME MANAGEMENT AND SIMILAR BOARDS, AND THROUGH THIS RELATIONSHIP, OVERSIGHT IS EXERCISED ENSURING THAT IRC USES THE FUNDS FOR THE INTENDED PURPOSE. GRANT TO FINEQUITY: FINEQUITY SIGNED A LETTER AGREEMENT WITH THE ORGANIZATION TO ESTABLISH MONITORING AND OTHER KEY TERMS & DETAILS. IRC CEO MET WITH FINEQUITY, REPRESENTATIVES FROM FINANCIAL HEALTH NETWORK AND OTHER PROJECT PARTNERS ONCE PER MONTH OVER THE 12-MONTH PROJECT PERIOD TO DISCUSS CHALLENGES, MONITOR PROGRESS AGAINST GOALS, AND OTHERWISE ENSURE COMPLIANCE AND DONOR ENDORSEMENT/COMMUNICATION. FEC GRANTS: ELIGIBILITY FOR SUBMITTING LOAN APPLICATIONS IS DETERMINED AT THE LOCAL LEVEL AND ALIGNED WITH LOCAL RELATED WORKFORCE OR SOCIAL SERVICE PROGRAMS INTO WHICH CEO'S LOANS ARE EMBEDDED. ALL APPLICANTS MUST BE ENGAGED IN LOCAL RELATED ECONOMIC DEVELOPMENT PROGRAMS, THEREBY ENSURING OUR BORROWERS ARE CONNECTED TO ADDITIONAL WEALTH-BUILDING SUPPORTS AS THEY REPAY THEIR LOAN. WE FURTHER RESTRICT THE TYPES OF PURCHASES THAT WE WILL SUPPORT THROUGH DISTINCT LOAN PRODUCTS SUCH AS MICROENTERPRISE, CREDIT-BUILDING MICRO-LOANS, AND AUTO LOANS. WHERE POSSIBLE AND REASONABLE, WE DISBURSE FUNDS DIRECTLY TO THE VENDOR. EDUCATION AND TRAINING GRANTS: THE INDIVIDUAL WAS SELCTED BY THE IRC SAN JOSE OFFICE AND THE MONITORING OF THE USE OF THE FUNDS PROVIDED WAS COMPLETED BY IRC. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JENNIFER SIME | ||||||||||||||
| FORMER TREASURER | $0 | $288,349 | $0 | $0 | $0 | $1,471 | $0 | $32,420 | $0 | $9,684 | $0 | $331,924 | $0 | $0 |
| HANS VAN DE WEERD | ||||||||||||||
| PRESIDENT | $0 | $280,773 | $0 | $0 | $0 | $2,432 | $0 | $29,481 | $0 | $1,720 | $0 | $314,406 | $0 | $0 |
| ELLEN BEATTIE | ||||||||||||||
| TREASURER | $0 | $141,071 | $0 | $0 | $0 | $1,899 | $0 | $16,654 | $0 | $18,886 | $0 | $178,510 | $0 | $0 |
| KASRA MOVAHEDI | ||||||||||||||
| EXECUTIVE DIRECTOR | $127,813 | $0 | $0 | $0 | $251 | $0 | $13,626 | $0 | $10,229 | $0 | $151,919 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | INTERNATIONAL RESCUE COMMITTEE, A RELATED ORGANIZATION, COMPENSATES SEVERAL MEMBERS OF THE BOARD. BELOW IS THEIR COMPENSATION POLICY: THE IRC BOARD OF DIRECTORS ESTABLISHED A COMPENSATION COMMITTEE. PURSUANT TO IRC BYLAWS AND BOARD GOVERNANCE GUIDELINES, COMPENSATION COMMITTEE MEMBERS ARE NOMINATED BY THE NOMINATING AND GOVERNANCE COMMITTEE AND PRESENTED TO THE FULL BOARD FOR APPROVAL AT THE ANNUAL MEETINGS. ALL COMPENSATION COMMITTEE MEMBERS ARE INDEPENDENT, UNCOMPENSATED MEMBERS OF THE BOARD. THE COMPENSATION COMMITTEE MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF AND DETERMINE COMPENSATION FOR THE PRESIDENT AND CEO. IN ADDITION, THE COMMITTEE REVIEWS THE COMPENSATION FOR THE SENIOR EXECUTIVE TEAM, WHICH INCLUDES OFFICERS AND KEY EMPLOYEES. AN EXPERIENCED, INDEPENDENT CONSULTANT IS ENGAGED TO COMPILE COMPARATIVE COMPENSATION DATA, COMPENSATION RANGES, AND RELATED MATTERS. THE CONSULTANT ALSO PRESENTS TO THE COMMITTEE, A REVIEW OF INTERMEDIATE SANCTIONS RULES, CHANGES IN THOSE RULES IN THE PRECEDING YEAR, AND THE MANNER IN WHICH THE COMPENSATION COMMITTEE NEEDS TO PROCEED IN ORDER TO BE COMPLIANT. THE CONSULTANT MAKES HIS PRESENTATION VERBALLY, IN PERSON, TO THE COMMITTEE, AS WELL AS IN THE FORM OF A WRITTEN REPORT. THE COMPENSATION COMMITTEE MAINTAINS A RECORD OF ITS REVIEW AND DETERMINATIONS IN COMMITTEE MEETING MINUTES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | IRC'S CENTER FOR ECONOMIC OPPORTUNITY, INC. HAS THREE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS HAVE FULL VOTING RIGHTS AND SUCH OTHER RIGHTS AS ARE GRANTED TO MEMBERS UNDER THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS MAY RECEIVE REPORTS ON THE ACTIVITIES OF THE CORPORATION, INCLUDING THE ANNUAL FINANCIAL REPORT PREPARED AND PRESENTED IN ACCORDANCE WITH SECTION 13 OF ARTICLE II, AND DETERMINE THE DIRECTION OF THE CORPORATION FOR THE COMING YEAR AT ITS ANNUAL MEETING. SPECIAL MEETINGS OF THE MEMBERS, FOR ANY PURPOSE OR PURPOSES, MAY BE CALLED AT ANY TIME BY THE CHAIRMAN OF THE BOARD OF DIRECTORS OR THE MEMBERS. CURRENTLY-SEATED MEMBERS OF THE CORPORATION MAY ADD OR REMOVE MEMBERS OF THE CORPORATION VIA UNANIMOUS VOTE. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | IRC'S CENTER FOR ECONOMIC OPPORTUNITY, INC. ("IRC'S CEO") HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE EXECUTIVE DIRECTOR AND DEPUTY DIRECTOR, FINANCE & ADMINISTRATION OF IRC'S CEO, AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD FOR REVIEW AND APPROVAL. ONCE THE BOARD HAS APPROVED THE RETURN IT IS FILED WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY APPLIES TO IRC'S CEO BOARD MEMBERS AND IRC STAFF PERFORMING DUTIES FOR IRC'S CEO. THE POLICY ASKS FOR ANNUAL DISCLOSURES FROM ALL BOARD MEMBERS AND INVOLVED IRC STAFF. THESE DISCLOSURES ARE REVIEWED BY THE BOARD (OR ASSIGNED SUBCOMMITTEE) ANNUALLY AND PERIODICALLY. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE OF THE MEMBER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THAT THE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE CORRECTIVE ACTION. A BOARD MEMBER WITH A POTENTIAL CONFLICT OF INTEREST IS REQUIRED TO RECUSE HIMSELF OR HERSELF FROM THE MEETING DISCUSSION AND REFRAIN FROM VOTING ON THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | TWO OF THE FOUR IRC CEO'S BOARD MEMBERS ARE THE IRC'S LEADERSHIP STAFF AND ARE COMPENSATED BY THE IRC (CEO'S PARENT COMPANY). THEIR COMPENSATIONS FOLLOW THE IRC'S COMPENSATION POLICIES. IRC'S CEO AS A NON-CONSOLIDATED SUBSIDIARY OF THE INTERNATIONAL RESCUE COMMITTEE HAS ADOPTED THE PARENT COMPANY COMPENSATION PROGRAM AND SALARY BAND STRUCTURE. THE EXECUTIVE DIRECTOR POSITION FALLS INTO THE EXECUTIVE LEADERSHIP BAND. THE ED'S ANNUAL SALARY AS WELL AS ANNUAL MERIT INCREASE IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS FOR AN EFFECTIVE DATE OF JANUARY 1ST. IRC'S CEO STAFF ARE CLASSIFIED WITHIN THE SAME BAND STRUCTURE UNDER THE LEADERSHIP OF THE EXECUTIVE DIRECTOR. ANNUAL SALARIES ARE REVIEWED AND APPROVED BY THE ED IN CONSULTATION WITH THE IRC'S HR PARTNER. PERFORMANCE REVIEW IS CONDUCTED ON AN ANNUAL BASIS AND MERIT INCREASE IS APPROVED THE EXECUTIVE DIRECTOR. PERFORMANCE REVIEW/MERIT INCREASE IS CONDUCTED/DOCUMENTED ON AN ANNUAL BASIS VIA WORKDAY, THE ONLINE HR SYSTEM. THE LATEST MERIT INCREASE TOOK EFFECT ON JANUARY 1, 2022. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE TO THE PUBLIC UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Address Line1ForeignAddress/AddressLine1Txt | CityForeignAddress/CityNm | CountryForeignAddress/CountryCd | Foreign PostalForeignAddress/ForeignPostalCd | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INTERNATIONAL RESCUE COMMITTEE | ||||||||||||||||
| 122 EAST 42ND STREET 14TH FL | NEW YORK | NY | 10168 | 135660870 | HUMANITARIAN AID | NY | 501(C)(3) | LINE 7 | N/A | 0 | ||||||
| IRC HELLAS | ||||||||||||||||
| HUMANITARIAN AID | 501(C)(3) | 0 | APOLLON TOWER LOUIZIS RIANKOUR 64 | ATHENS | GR | 11523 | GR | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC DEUTSCHLAND GGMBH | ||||||||||||||||
| HUMANITARIAN AID | 501(C)(3) | 0 | WALLSTRASSE 15A | BERLIN | GM | 10179 | GM | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC SVERIGE INSAMLINGSSTIFTELSE | ||||||||||||||||
| HUMANITARIAN AID | 501(C)(3) | 0 | THE PARK MAGNUS LADULASGATAN 3 | STOCKHOLM | SW | 118 65 | SW | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC KOREA FOUNDATION | ||||||||||||||||
| HUMANITARIAN AID | 501(C)(3) | 0 | 432 EONJU-RO GANGNAM-GU | SEOUL | KS | KS | INTERNATIONAL RESCUE COMMITTEE | |||||||||
| IRC UK | ||||||||||||||||
| HUMANITARIAN AID | 501(C)(3) | 0 | 100 WOOD STREET | LONDON | UK | EC2V7AN | UK | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC POLSKA | ||||||||||||||||
| HUMANITARIAN AID | 501(C)(3) | 0 | PRZYOKOPOWA 31 3RD FLOOR | WARSAW | PL | 01-208 | PL | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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