Civic Intelligence

Albina Opportunities Corporation

EIN 20-5597705 • 501(c)3 • Portland, OR

Profile

Provide financial resources and business consulting services to small minority-owned businesses located in distressed sectors within the portland, oregon metropolitan area. The resources are specifically directed at stimulating business growth and creating jobs.

1515 SW Fifth Avenue No 600Portland, OR 97201

www.albinaopportunities.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.17x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2019

Net Margin

100th percentile

264%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

88th percentile

$107,311

Higher top officer pay than 88% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

3rd percentile

-80%

Faster asset growth than 3% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Assets

Down

$548,628

Down $2,138,076 (-80%) from 2018

Liabilities

Down

$641,603

Down $1,452,311 (-69%) from 2018

Net Assets

Down

-$92,975

Down $685,765 (-116%) from 2018

Revenue

Down

-$259,872

Down $505,128 (-206%) from 2018

Expenses

Up

$425,893

Up $65,928 (+18%) from 2018

Net Income

Down

-$685,765

Down $571,056 (-498%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $1,360,445Liabilities 2011: $1,329,250Net Assets 2011: $31,1952011Assets 2012: $1,374,755Liabilities 2012: $1,134,528Net Assets 2012: $240,2272012Assets 2013: $1,999,931Liabilities 2013: $1,648,972Net Assets 2013: $350,9592013Assets 2014: $2,473,425Liabilities 2014: $1,965,153Net Assets 2014: $508,2722014Assets 2015: $2,685,689Liabilities 2015: $1,945,649Net Assets 2015: $740,0402015Assets 2016: $2,968,701Liabilities 2016: $2,209,280Net Assets 2016: $759,4212016Assets 2017: $2,905,964Liabilities 2017: $2,198,465Net Assets 2017: $707,4992017Assets 2018: $2,686,704Liabilities 2018: $2,093,914Net Assets 2018: $592,7902018Assets 2019: $548,628Liabilities 2019: $641,603Net Assets 2019: -$92,9752019

Highlighted filing

2019

Assets$548,628
Liabilities$641,603
Net Assets-$92,975

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500K-$1.0MRevenue 2011: $92,160Expenses 2011: $247,192Net Income 2011: -$155,0322011Expenses 2012: $231,2872012Revenue 2013: $490,731Expenses 2013: $379,999Net Income 2013: $110,7322013Revenue 2014: $547,189Expenses 2014: $399,194Net Income 2014: $147,9952014Revenue 2015: $698,156Expenses 2015: $444,088Net Income 2015: $254,0682015Revenue 2016: $581,642Expenses 2016: $562,261Net Income 2016: $19,3812016Revenue 2017: $419,047Expenses 2017: $470,969Net Income 2017: -$51,9222017Revenue 2018: $245,256Expenses 2018: $359,965Net Income 2018: -$114,7092018Revenue 2019: -$259,872Expenses 2019: $425,893Net Income 2019: -$685,7652019

Highlighted filing

2019

Revenue-$259,872
Expenses$425,893
Net Income-$685,765

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 24, 2020
Return Version
2019v5.1
Gross Receipts
$151,485
Mission and Program Overview

Mission

Provide financial resources and business consulting services to small minority-owned businesses located in distressed sectors within the portland, oregon metropolitan area. The resources are specifically directed at stimulating business growth and creating jobs.

To create financial equity and jobs in the portland area through lending and business guidance to minority-owned, women-owned, disadvantaged, and low income business communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$583,072$272,539▼ $310,533
Other Notes and Loans Receivable, Net$1,185,965$263,156▼ $922,809
Loans From Officers Directors$10,000--
Prepaid Expenses and Deferred Charges$15,333$8,952▼ $6,381
Accounts Receivable$9,856$2,275▼ $7,581
Pledges and Grants Receivable$56,132$1,000▼ $55,132
Savings and Temporary Cash Investments$836,346$706▼ $835,640
Total Assets$2,686,704$548,628▼ $2,138,076
Liabilities
Unsecured Notes Loans Payable$2,069,376$625,000▼ $1,444,376
Accounts Payable and Accrued Expenses$930$13,316▲ $12,386
Other Liabilities$13,208$1,875▼ $11,333
Deferred Revenue-$1,412-
Escrow Account Liability$400--
Total Liabilities$2,093,914$641,603▼ $1,452,311
Net Assets / Fund Balance
Net Assets With Donor Restrictions$179,744$34,890▼ $144,854
Net Assets Without Donor Restrictions$413,046$-127,865▼ $540,911
Total Net Assets Fund Balance$592,790$-92,975▼ $685,765
Total Liabilities and Net Assets / Fund Balance$2,686,704$548,628▼ $2,138,076
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robin WangExecutive DirectorFT$102,045$5,266$107,311

Board Members and Trustees

NameTitle
Alan GarciaDirector
Amy WaysonDirector
Art HiemstraDirector
Bruce WattsDirector
Bryson DavisDirector
Erik SeldenDirector
Erin TochenDirector
Jeffrey LangDirector
Melissa SangerDirector
Sheila HoldenDirector
Shobi DahlDirector
Ward GreeneDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$43,026
Program Service Revenue
$137,951
Investment Income
$-406,315
Other Revenue
$-34,534
All Other Contributions
$43,026
Change in Net Assets
$-685,765
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$243,219
Other Expenses$182,674
Total Fundraising Expense$4,485
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$96,914$16,760-$113,674
Current Officers, Directors, Trustees, and Key Employees$91,262$12,476$3,573$107,311
Fees for Services Legal$66,734--$66,734
Interest$30,363--$30,363
Fees for Services Accounting$15,496$5,256-$20,752
Occupancy$17,316$2,202$599$20,117
Payroll Taxes$15,210$2,660-$17,870
Fees for Services Other$8,622$2,925-$11,547
Office Expenses$10,445$293$80$10,818
Insurance$6,365$809$220$7,394
Other Employee Benefits$3,458$906-$4,364
Advertising$1,360--$1,360
Other Expenses$254$262$8$524
Depreciation Depletion$154$20$5$179
Total Functional Expenses$376,839$44,569$4,485$425,893
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$10,000--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$1,875
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1

The board's elected officers (chair, vice chair, treasurer, secretary, and past board chair) comprise the executive committtee which has some authority to act on behalf of the entire board.

Form 990, Part VI, Section B, Line 11B

A draft of the form 990 will be sent to our board for review and approval.

Form 990, Part VI, Section B, Line 12C

The board of directors reviews the conflict of interest policy and potential conflicts at annual board meetings

Form 990, Part VI, Section B, Line 15A

Comparable executive director compensation, roles and responsibilities were used in determining compensation of the executive director

Form 990, Part VI, Section C, Line 19

The organization's governing documents and conflict of interest policy are made available to the public upon request. Financial statements are not made available to the public.

Filing and Contact Details

Filer

Filer Name
Albina Opportunities Corporation
EIN
20-5597705
Phone
5034885945
Address
1515 SW FIFTH AVENUE NO 600, PORTLAND, OR 97201
Doing Business As
Ascent Funding

Signing Officer

Name
Robin Wang
Title
Executive Director
Phone
5034885945
Signed
2020-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robin Wang
Formed
2007
Legal Domicile
Or
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
20

Preparer

Firm
Mcdonald Jacobs Pc
Address
520 SW YAMHILL ST STE 500, PORTLAND, OR 97204
Preparer
Sang Ahn
Phone
5032270581
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

On 12/30/2019, the assets of the organization were acquired by micro enterprise services of oregon (meso) which is a 501(c)(3) organization. As a result, our loans and or programs were transferred to meso. See schedule n for details.

Financial Statement Notes

PART IV, LINE 2B:

The organization acts as a loan servicer for joint participation loans made in connection with the exempt purpose of the organization. In that regard the organization generally has cash balance beloinging to the third party loan participant that have not yet been repaid.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt03458
IRS990/OtherEmployeeBenefitsGrp/TotalAmt04364
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1OTHER
IRS990/OtherExpensesGrp/FundraisingAmt08
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0262
IRS990/OtherExpensesGrp/ProgramServicesAmt012886
IRS990/OtherExpensesGrp/ProgramServicesAmt1254
IRS990/OtherExpensesGrp/TotalAmt012886
IRS990/OtherExpensesGrp/TotalAmt1524
IRS990/OtherLiabilitiesGrp/BOYAmt013208
IRS990/OtherLiabilitiesGrp/EOYAmt01875
IRS990/OtherRevenueMiscGrp/BusinessCd0525990
IRS990/OtherRevenueMiscGrp/Desc0LOSS FROM LOAN DEFAULT
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0-34534
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0-34534
IRS990/OtherRevenueTotalAmt0-34534
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt016760
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt096914
IRS990/OtherSalariesAndWagesGrp/TotalAmt0113674
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01185965
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0263156
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02660
IRS990/PayrollTaxesGrp/ProgramServicesAmt015210
IRS990/PayrollTaxesGrp/TotalAmt017870
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt056132
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt015333
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08952
IRS990/PrincipalOfficerNm0ROBIN WANG
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1LOAN FEES
IRS990/ProgramServiceRevenueGrp/Desc2SETTLEMENT
IRS990/ProgramServiceRevenueGrp/Desc3SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0107985
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt123267
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt25000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31699
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0107985
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt123267
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31699
IRS990/ProgSrvcAccomActy2Grp/Desc0BUSINESS ADVISORY SERVICES: THE ORGANIZATION PROVIDES PROSPECTIVE AND EXISTING BORROWER-CLIENTS WITH ACCESS TO FREE BUSINESS ADVISORY SERVICES AND EDUCATIONAL WORKSHOPS AND PROGRAMS FROM STAFF AND VOLUNTEER BUSINESS ADVISORS
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt078105
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0109375
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02026
IRS990/PYOtherExpensesAmt0103419
IRS990/PYOtherRevenueAmt0-1683
IRS990/PYProgramServiceRevenueAmt0135538
IRS990/PYRevenuesLessExpensesAmt0-114709
IRS990/PYSalariesCompEmpBnftPaidAmt0256546
IRS990/PYTotalExpensesAmt0359965
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0245256
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-685765
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0-306940
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0836346
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0706
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt043026
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0104875
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0275463
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0393745
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0189642
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01006751
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04042
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02026
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0712
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0508
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0349
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt07637
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0567372
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01388
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01388
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.48860
IRS990ScheduleA/PublicSupportPY170Pct00.68050
IRS990ScheduleA/PublicSupportTotal170Amt0496279
IRS990ScheduleA/SubstantialContributorsTotAmt0510472
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt043026
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0104875
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0275463
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0393745
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0189642
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01006751
IRS990ScheduleA/TotalSupportAmt01015776
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd01
IRS990ScheduleD/BeginningBalanceAmt0400
IRS990ScheduleD/DistributionsDuringYearAmt0400
IRS990ScheduleD/EndingBalanceAmt00
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01875
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACTS AS A LOAN SERVICER FOR JOINT PARTICIPATION LOANS MADE IN CONNECTION WITH THE EXEMPT PURPOSE OF THE ORGANIZATION. IN THAT REGARD THE ORGANIZATION GENERALLY HAS CASH BALANCE BELOINGING TO THE THIRD PARTY LOAN PARTICIPANT THAT HAVE NOT YET BEEN REPAID.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt01875
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CAPITAL FOR MAKING LOANS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt025000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0WARD GREENE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleN/AssetsDistributedInd00
IRS990ScheduleN/AttorneyGeneralNotifiedInd00
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd00
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0TERM LOANS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1RESTRICTED FUNDS (PERMISSION FROM GRANTORS)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2ART CORTEZ TERM LOAN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3TANGIBLE ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4IP RELATED TO LOAN TERMS AND MARKETING
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0MICRO ENTERPRISES SERVICES OF OREGON
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1MICRO ENTERPRISES SERVICES OF OREGON

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