Inner City Advisors

“The organization changed its name to ica. Fund.”

“The finance team & investment manager reviewed the returns and then forwarded to the board. The full board received a copy of the form 990 for review prior to filing.”

“All directors and officers are covered under the policy. An interested person must disclose all material facts to the board or executive committee, upon which the determination of a conflict of interest is discussed and voted upon by the remaining board or executive committee members. If the board or executive committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“The executive committee (ec) of the board annually reviews the salaries of the ceo and benchmarks against like positions. The ec documents this review through a memo provided to management indicating the ceo's new salary.”

“Audited financial statements are available on the ica.fund website, along with annual form 990. Additionally, all other documents are available upon request for the same period of time set forth in sec. 6104(d).”

“Inner city advisors and fund good jobs, inc., merged into a single not-for-profit organization and designated inner city advisors as the surviving entity with name changed into ica.fund. The merged organization continues to operate with the same mission, staff, and board of directors, and shall hereinafter continue to be referred to as the organization. Prior to the merger, fund good jobs, inc., was a certified community development financial institution (cdfi). Subsequent to the merger, the organization applied for and received recertification as a cdfi.”

“Consultants: program service expenses 369,296. Management and general expenses 55,306. Fundraising expenses 0. Total expenses 424,602.”

“Assets transferred from fgj 1,596,520.”

“Inner city advisors and fund good jobs had shared board members and employees with compensation allocated between the two organizations. In fiscal year 2020, ica.fund and fund good jobs, inc., merged into a single not-for-profit organization and designated ica.fund as the surviving entity.”