IRCS CENTER FOR ECONOMIC OPPORTUNITY INC: Form 990, tax year 2023
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- Organization
- IRCS CENTER FOR ECONOMIC OPPORTUNITY INC (EIN 45-3686069)
- Tax period
- 2023-10-01 to 2024-09-30
- Filed
- 2025-08-15
- IRS object ID
- 202502279349303985
- Schema version
- 2023v6.0
- 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 | 2025-08-15T20:07:37-04:00 | ReturnTs |
| Tax Period End | 2024-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 113287732 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Padilla and Company LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 175-61 Hillside Avenue Ste 200 | AddressLine1Txt |
| City | Jamaica | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11432 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453686069 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IRCS CENTER FOR ECONOMIC OPPORTUNITY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | IRCS | BusinessNameControlTxt |
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 | 2025-08-14 | SignatureDt |
| Discuss With Paid Preparer | false | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jose Paolo Espiritu | PreparerPersonNm |
| PTIN | P01304010 | PTIN |
| Phone | 7185585858 | PhoneNum |
| Preparation | 2025-08-15 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Ariana Miller | PrincipalOfficerNm |
| Gross Receipts | $6,038,537 | GrossReceiptsAmt |
| Group Return For Affiliates | false | 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 unlock access to credit to help create a fair financial system where low-income people can realize their potential to build better lives and communities prosper. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 15 | TotalEmployeeCnt |
| Total Volunteers | 23 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,973,077 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,256,729 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $818,017 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,726,248 | CYProgramServiceRevenueAmt |
| PY Investment Income | $36,978 | PYInvestmentIncomeAmt |
| CY Investment Income | $55,560 | CYInvestmentIncomeAmt |
| PY Other Revenue | $211,342 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $6,039,414 | PYTotalRevenueAmt |
| CY Total Revenue | $6,038,537 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,950 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,010,581 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,660,025 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $335,438 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $341,084 | PYOtherExpensesAmt |
| CY Other Expenses | $5,335,708 | CYOtherExpensesAmt |
| PY Total Expenses | $1,353,615 | PYTotalExpensesAmt |
| CY Total Expenses | $6,995,733 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,685,799 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$957,196 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $18,295,231 | TotalAssetsBOYAmt |
| Total Assets EOY | $28,193,836 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,716,530 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $16,572,331 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $12,578,701 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $11,621,505 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To unlock access to credit to help create a fair financial system where low-income people can realize their potential to build better lives and communities prosper. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $6,298,800 | ExpenseAmt |
| Grant | $4,070 | GrantAmt |
| Revenue | $1,181,655 | RevenueAmt |
| Desc | CEO provides support to low and very low income households with consumer and small business loans in partnership with local community organizations that also offer credit education and related asset-building services. By fiscal year end 2024, CEO had 3,179 loans in its $19.5 million portfolio, reaching borrowers in 18 states with 37 local partners providing support to borrowers in their communities. 94% of these borrowers were from low income households and 63% of those borrowers had no or sub-prime credit scores before becoming CEO clients. CEOs lending activity, when combined with credit education and technical assistance, is proven to lead to improved credit scores: in a study conducted in 2024 with the Credit Builders Alliance, 98% of those who had no credit score before getting a CEO-funded loan were able to establish credit and 66% of these borrowers achieved a prime score of 660 or higher. These outcomes...(continuation in Schedule O, General Explanation) | Desc |
| Total Program Service Expenses | $6,298,800 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 8 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 15 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | false | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ELLEN BEATTIE | PersonNm |
| 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 (9 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Johannes Van de Weerd | ||||||||
| Board President | 37.50 | 0.00 | Yes (X) | $340,523 | $0 | $0 | ||
| Ellen Beattie | ||||||||
| Board Tresurer | 37.50 | 0.00 | Yes (X) | $247,000 | $0 | $0 | ||
| Kasra Movahedi | ||||||||
| Executive Director | 37.50 | 0.00 | $149,618 | $0 | $0 | Yes (X) | ||
| Megan Hershiser | ||||||||
| Assoc Dir Corporate Partne | 37.50 | 0.00 | $115,038 | $0 | $0 | Yes (X) | ||
| Gokcen Topbas | ||||||||
| Director Credit Strategy | 37.50 | 0.00 | $107,210 | $0 | $0 | Yes (X) | ||
| Senad Voloder | ||||||||
| Dep Dir Origination & Serv | 37.50 | 0.00 | $100,237 | $0 | $0 | Yes (X) | ||
| Mary Grace Ner | ||||||||
| Dep Dir Finance & Administ | 37.50 | 0.00 | $95,635 | $0 | $0 | Yes (X) | ||
| Zachary Bezold | ||||||||
| Dep Dir Learning & Innovat | 37.50 | 0.00 | $92,438 | $0 | $0 | Yes (X) | ||
| Ariana Miller | ||||||||
| Executive Director | 37.50 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,247,699 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Government Grants | $436,956 | GovernmentGrantsAmt |
| All Other Contributions | $3,819,773 | AllOtherContributionsAmt |
| Total Contributions | $4,256,729 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Loan interest and fee | 900099 | $1,181,173 | $1,181,173 |
| Portfolio management | 900099 | $545,075 | $545,075 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,726,248 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $55,560 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $55,560 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,038,537 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,781,808 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,283,730 | TotalAmt |
| Program Services | $992,863 | ProgramServicesAmt |
| Management And General | $107,326 | ManagementAndGeneralAmt |
| Fundraising | $183,541 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $376,295 | TotalAmt |
| Program Services | $291,008 | ProgramServicesAmt |
| Management And General | $31,459 | ManagementAndGeneralAmt |
| Fundraising | $53,828 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $216,083 | TotalAmt |
| Program Services | $2,100 | ProgramServicesAmt |
| Management And General | $145,455 | ManagementAndGeneralAmt |
| Fundraising | $68,528 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,030 | TotalAmt |
| Program Services | $4,995 | ProgramServicesAmt |
| Management And General | $23,035 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,601 | TotalAmt |
| Program Services | $133,792 | ProgramServicesAmt |
| Management And General | $4,014 | ManagementAndGeneralAmt |
| Fundraising | $1,795 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,962 | TotalAmt |
| Management And General | $2,962 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,732 | TotalAmt |
| Program Services | $35,019 | ProgramServicesAmt |
| Management And General | $2,967 | ManagementAndGeneralAmt |
| Fundraising | $27,746 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $240,882 | TotalAmt |
| Program Services | $240,882 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,310 | TotalAmt |
| Management And General | $17,310 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Bad debts expenses | $12,660 | $12,660 | |
| Miscellaneous | $562,386 | $560,481 | $1,905 |
| Bank fees | $25,062 | $25,062 | |
| Recoverable grants expenses | $4,025,000 | $4,025,000 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,995,733 | TotalAmt |
| Program Services | $6,298,800 | ProgramServicesAmt |
| Management And General | $361,495 | ManagementAndGeneralAmt |
| Fundraising | $335,438 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,870,507 | BOYAmt |
| EOY | $7,391,634 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $892,682 | BOYAmt |
| EOY | $939,595 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $298,336 | BOYAmt |
| EOY | $1,267,570 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,075 | BOYAmt |
| EOY | $73,666 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,184,631 | BOYAmt |
| EOY | $18,491,371 | 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 | $18,295,231 | BOYAmt |
| EOY | $28,193,836 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $330,419 | BOYAmt |
| EOY | $123,609 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,386,111 | BOYAmt |
| EOY | $16,448,722 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,716,530 | BOYAmt |
| EOY | $16,572,331 | 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 | $3,510,866 | BOYAmt |
| EOY | $3,221,676 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,067,835 | BOYAmt |
| EOY | $8,399,829 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,578,701 | BOYAmt |
| EOY | $11,621,505 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,295,231 | BOYAmt |
| EOY | $28,193,836 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$957,196 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 | false | AuditCommitteeInd |
| Federal Grant Audit Required | false | 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 | $1,746,494 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,432,655 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,228,956 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,973,077 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,256,729 | CurrentTaxYearAmt |
| Total | $18,637,911 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,746,494 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,432,655 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,228,956 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,973,077 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,256,729 | CurrentTaxYearAmt |
| Total | $18,637,911 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $1,206,826 | SubstantialContributorsTotAmt |
| Public Support Total170 | $17,431,085 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,447 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $169 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,170 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $36,978 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $55,560 | CurrentTaxYearAmt |
| Total | $99,324 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $18,737,235 | TotalSupportAmt |
| Public Support CY170 | 0.93030 | PublicSupportCY170Pct |
| Public Support PY170 | 0.94820 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
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
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Investments - program related | Desc |
| Book Value | $18,491,371 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $18,491,371 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Security deposit | Desc |
| Book Value | $30,000 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $30,000 | TotalBookValueOtherAssetsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $6,038,537 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $6,038,537 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $6,038,537 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,995,733 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $6,995,733 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $6,995,733 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Footnote for uncertain tax position under FIN 48 (Part X) | FormAndLineReferenceDesc |
| Explanation | The Organization does not believe its financial statements include any material uncertain tax positions that require adjustment to the financial statements to comply with the provisions of Financial Accounting Standards Board (FASB) Accounting StandardsCodification (ASC) 740, Accounting for Uncertainty in Income Taxes. Tax filings forperiods ending September 30, 2021 and later are subject to examination by applicabletaxing authorities. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|
| Ellen Beattie | ||
| Board Tresurer | $247,000 | $247,000 |
| Johannes Van de Weerd | ||
| Board President | $340,523 | $340,523 |
| Kasra Movahedi | ||
| Executive Director | $149,618 | $149,618 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Members or stockholder classes and rights Part VI line 6 | IRCS CENTER FOR ECONOMIC OPPORTUNITY, INC. HAS THREE MEMBERS. |
| Member election for additional members Part VI 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. |
| Governing body decisions Part VI 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. |
| Committee meeting documentation Part VI line 8b | THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| Form 990 governing body review Part VI line 11 | IRCS CENTER FOR ECONOMIC OPPORTUNITY, INC. (IRCS 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 IRCS 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. |
| Conflict of interest policy compliance Part VI line 12c | THE CONFLICT OF INTEREST POLICY APPLIES TO IRCS CEO BOARD MEMBERS AND IRC STAFF PERFORMING DUTIES FOR IRCS 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... (continuation in Schedule O, General Explanation) |
| CEO executive director top management comp Part VI line 15a | TWO OF THE FIVE IRC CEOS BOARD MEMBERS ARE THE IRCS LEADERSHIP STAFF AND ARE COMPENSATED BY THE IRC (CEOS PARENT COMPANY). THEIR COMPENSATION FOLLOW THE IRCS COMPENSATION POLICIES. IRCS CEO AS A NON-CONSOLIDATED SUBSIDIARY OF THE INTERNATIONAL RESCUE COMMITTEE HAS ADOPTED THE PARENT COMPANY COMPENSATION PROGRAM AND SALARY BAND STRUCTURE. THE TOP OFFICIAL IS THE EXECUTIVE DIRECTOR, AND THAT POSITION IS THE ONE REVIEWED BY THE BOARD WITH BENCHMARKS MADE AGAINST OTHER POSITIONS AT THE PARENT ORGANIZATION, THE INTERNATIONAL RESCUE COMMITTEE, AND OTHERS WITH SIMILAR TITLE AND RESPONSIBILITIES WITHIN THE COMMUNITY DEVELOPMENT FINANCE INDUSTRY. THE TRADE ASSOCIATION FOR CDFIS PUBLISHES A SALARY SURVEY ON A REGULAR BASIS; CEO HAS SUBSCRIBED... (continuation in Schedule O, General Explanation) |
| Other officer or key employee compensation Part VI line 15b | TWO OF THE FIVE IRC CEOS BOARD MEMBERS ARE THE IRCS LEADERSHIP STAFF AND ARE COMPENSATED BY THE IRC (CEOS PARENT COMPANY). THEIR COMPENSATION FOLLOW THE IRCS COMPENSATION POLICIES. IRCS CEO AS A NON-CONSOLIDATED SUBSIDIARY OF THE INTERNATIONAL RESCUE COMMITTEE HAS ADOPTED THE PARENT COMPANY COMPENSATION PROGRAM AND SALARY BAND STRUCTURE. THE TOP OFFICIAL IS THE EXECUTIVE DIRECTOR, AND THAT POSITION IS THE ONE REVIEWED BY THE BOARD WITH BENCHMARKS MADE AGAINST OTHER POSITIONS AT THE PARENT ORGANIZATION, THE INTERNATIONAL RESCUE COMMITTEE, AND OTHERS WITH SIMILAR TITLE AND RESPONSIBILITIES WITHIN THE COMMUNITY DEVELOPMENT FINANCE INDUSTRY. THE TRADE ASSOCIATION FOR CDFIS PUBLISHES A SALARY SURVEY ON A REGULAR BASIS; CEO HAS SUBSCRIBED... (continuation in Schedule O, General Explanation) |
| Governing documents etc available to public Part VI 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 ORGANIZATIONS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE TO THE PUBLIC UPON REQUEST. |
| General explanation attachment | (continuation of Part III, 4a)...give these borrowers a path to other wealth-building opportunities and further CEOs mission of unlocking access to credit. (continuation of Schedule O, Part VI, Line 12c)...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. (continuation of Schedule O, Part VI, Lines 15a and 15b)...TO THAT SALARY SURVEY AND HAS BEEN ABLE TO USE IT TO ALIGN ITS COMPENSATION STRUCTURE WITH THAT OF OTHER SIMILAR-SIZED ORGANIZATIONS WITH A NATIONAL FOOTPRINT. THE CEO BOARD OF DIRECTORS REVIEWS THIS DATA, AND IN CONSULTATION WITH THE HR TEAM AT THE PARENT ORGANIZATION, DETERMINES AND THEN APPROVES AN APPROPRIATE COMPENSATION STRUCTURE FOR THE EXECUTIVE DIRECTOR. THIS WAS LAST UNDERTAKEN IN DECEMBER 2023. THE BOARD REVIEWED AND APPROVED THE BUDGET PROPOSAL FOR THE CURRENT FISCAL YEAR WHICH INCLUDED AN INCREASE TO SALARIES FOR CEO STAFF INCLUDING ITS EXECUTIVE DIRECTOR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (8 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 | Province Or StateForeignAddress/ProvinceOrStateNm | 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 | 501C3 | 7 | N/A | false | |||||||
| IRC HELLAS | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | APOLLON TOWER LOUIZIS RIANKOUR 64 | ATHENS | ATHENS | GR | 11523 | GR | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC DEUTSCHLAND GGMBH | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | WALLSTRASSE 15A | BERLIN | BERLIN | GM | 10179 | GM | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC SVERIGE INSAMLINGSSTIFTELSE | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | THE PARK MAGNUS LADULASGATAN 3 | STOCKHOLM | STOCKHOLM | SW | 118 65 | SW | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC KOREA FOUNDATION | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | 432 EONJU-RO GANGNAM-GU | SEOUL | SEOUL | KS | KS | INTERNATIONAL RESCUE COMMITTEE | |||||||||
| IRC UK | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | 100 WOOD STREET | LONDON | LONDON | UK | EC2V7AN | UK | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC POLSKA | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | PRZYOKOPOWA 31 3RD FLOOR | WARSAW | WARSAW | PL | 01-208 | PL | INTERNATIONAL RESCUE COMMITTEE | ||||||||
| IRC GUATAMALA | |||||||||||||||||
| HUMANITARIAN AID | 501C3 | false | HFVJGF2 | GUATAMALA CITY | GUATAMALA CITY | GT | GT | INTERNATIONAL RESCUE COMMITTEE | |||||||||
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